0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:06All sorts of people buy property from auctions these days.
0:00:06 > 0:00:08Auctions attract buyers from all walks of life.
0:00:08 > 0:00:11That's because there are bargains to be had
0:00:11 > 0:00:13buying your home under the hammer.
0:00:38 > 0:00:42Well, you'll find all sorts of properties at the auctions,
0:00:42 > 0:00:46from disused toilets to bijou flats to grand mansions.
0:00:46 > 0:00:49It's often a race to get the best bargains,
0:00:49 > 0:00:51but you have you be in it to win it,
0:00:51 > 0:00:54so let's see what we're featuring on today's show.
0:00:54 > 0:00:57I'm in Whitby, North Yorkshire,
0:00:57 > 0:01:01where the rooms in this flat may seem a little small,
0:01:01 > 0:01:03but the big thing about this room is that.
0:01:05 > 0:01:06I'm in Leybourne in Kent,
0:01:06 > 0:01:09where you'll need more than green fingers
0:01:09 > 0:01:12if you're taking on this place.
0:01:12 > 0:01:15Argh! The overgrown wilderness, argh!
0:01:15 > 0:01:18And near St Austell in Cornwall,
0:01:18 > 0:01:22this property is in need of a layout re-think.
0:01:22 > 0:01:24This really doesn't work.
0:01:27 > 0:01:30All these properties have been sold at auction.
0:01:30 > 0:01:33We'll find out who bought them and what they paid for them
0:01:33 > 0:01:34when they went under the hammer.
0:01:38 > 0:01:41# Holiday
0:01:42 > 0:01:45# Celebrate
0:01:45 > 0:01:47# Holiday... #
0:01:47 > 0:01:52I'm in Whitby, on the spectacular North Yorkshire coast.
0:01:52 > 0:01:55Once a thriving fishing port and boat-building centre,
0:01:55 > 0:02:00it's now a really popular tourist destination, and you can see why.
0:02:00 > 0:02:04But probably its most famous connection is with Bram Stoker,
0:02:04 > 0:02:08who got inspiration for his Dracula from the town.
0:02:08 > 0:02:11So, big question is, will the property I'm here to see
0:02:11 > 0:02:15be pulsating with potential or as cold as a tomb?
0:02:16 > 0:02:20Each year, Whitby holds a gothic weekend for Bram Stoker fanatics,
0:02:20 > 0:02:24who are drawn to its eerie abbey and atmospheric coastline.
0:02:24 > 0:02:28But today, it's not just Stoker fans.
0:02:28 > 0:02:31The town is buzzing with day trippers and holidaymakers
0:02:31 > 0:02:34making the most of this glorious sunshine.
0:02:34 > 0:02:36# To go away on a summer's day
0:02:36 > 0:02:38# Never seemed so clear... #
0:02:40 > 0:02:43So, where ideally would we like the property to be?
0:02:43 > 0:02:44Well, how about this for a start?
0:02:44 > 0:02:48You've got the harbour on that side, you've got one of the main streets of the town here,
0:02:48 > 0:02:51and the property I'm here to see,
0:02:51 > 0:02:55a one-bedroom flat with a guide price of 80,000 quid,
0:02:55 > 0:02:57is just over there. Morning.
0:02:59 > 0:03:04The flat is above commercial premises, which isn't everyone's cup of tea,
0:03:04 > 0:03:08but I'm told the boarded-up shop below is in fact a cafe,
0:03:08 > 0:03:10so at least you won't have far to travel to get one,
0:03:10 > 0:03:14although in this weather, I think an ice cream would be more fitting.
0:03:14 > 0:03:17However, getting to the property is proving
0:03:17 > 0:03:19to be a slight issue for me today.
0:03:19 > 0:03:21Well, it's always nice to be noticed.
0:03:21 > 0:03:24# I'm your biggest fan
0:03:24 > 0:03:27# I'll follow you until you love me
0:03:27 > 0:03:30# Papa, paparazzi... #
0:03:33 > 0:03:37Finally, down the alley and around the back of the main street,
0:03:37 > 0:03:39I've found it.
0:03:43 > 0:03:45Ooh.
0:03:45 > 0:03:47And breathe! Right.
0:03:47 > 0:03:51So, away from the crowds, what's the property itself like?
0:03:51 > 0:03:53Well, through the rear entrance here,
0:03:53 > 0:03:58a large kind of living-room area, nice fireplace there.
0:03:58 > 0:04:01You've got your one bedroom over to that side, it's a decent size,
0:04:01 > 0:04:03and it's got some kind of boiler in there.
0:04:03 > 0:04:06I never liked boilers in bedrooms, but maybe you could relocate that.
0:04:06 > 0:04:08A good-sized bathroom,
0:04:08 > 0:04:12and then through into... Right, another living room.
0:04:12 > 0:04:18Fairly questionable fireplace, you want to get rid of that,
0:04:18 > 0:04:22but the big thing about this room is that. I mean, how fantastic?
0:04:22 > 0:04:24Looking out over the bay,
0:04:24 > 0:04:27you've got St Mary's church on the top of the hill there,
0:04:27 > 0:04:32lots of people. But what a fantastic location this property is.
0:04:32 > 0:04:35But something's not quite working in terms of the layout.
0:04:35 > 0:04:38I think there's a trick being missed here, big time.
0:04:38 > 0:04:41Why not think about converting this into a two-bedroom flat?
0:04:41 > 0:04:43That would definitely increase
0:04:43 > 0:04:46the amount of rent you could get, or the value,
0:04:46 > 0:04:49and I don't think it would be that difficult.
0:04:49 > 0:04:50Put some kind of corridor in there,
0:04:50 > 0:04:53leaving access through to the kitchen, create a bedroom there,
0:04:53 > 0:04:57then knock out this wall here, in between this room and the kitchen,
0:04:57 > 0:05:01to create a really nice open-plan living/kitchen area, with those fantastic views.
0:05:01 > 0:05:05Maybe a door out on to the balcony there. Now you're talking.
0:05:07 > 0:05:11Opening up the kitchen/living room would work well here,
0:05:11 > 0:05:14giving you inside and outside space.
0:05:14 > 0:05:17With doors onto the small but useful seating area.
0:05:17 > 0:05:20Well, it's not getting quieter down there,
0:05:20 > 0:05:21but maybe that's a good thing.
0:05:21 > 0:05:25Whitby is, of course, a really popular holiday destination,
0:05:25 > 0:05:28so why not consider this place as a holiday let?
0:05:28 > 0:05:30Suddenly, the quirky design,
0:05:30 > 0:05:35the fact that it's above commercial premises and the fact there's no parking don't matter anymore,
0:05:35 > 0:05:38cos people are here on holiday for a week, so who cares?
0:05:38 > 0:05:40Does it stack up financially?
0:05:40 > 0:05:41Well, yes, I think it might.
0:05:41 > 0:05:43In the peak summer season,
0:05:43 > 0:05:46you're going to get around £450 a week for this place.
0:05:46 > 0:05:48So, let's assume you've got a 12-week season...
0:05:48 > 0:05:51You've got probably longer than that, but let's be conservative.
0:05:51 > 0:05:5512 weeks, 450 quid a week - that's 5,400 quid.
0:05:55 > 0:05:58Not a bad return on your investment.
0:05:58 > 0:06:04Another interesting quirk worth investigating is this piece of garden at the back,
0:06:04 > 0:06:09which, at the moment, is being let to the property by the council.
0:06:09 > 0:06:10I'd certainly try to buy that,
0:06:10 > 0:06:14as it could be just the thing to relax in
0:06:14 > 0:06:16after a long day on those beautiful beaches.
0:06:19 > 0:06:23Bearing in mind its guide price of £80,000,
0:06:23 > 0:06:27we asked a local estate agent to pop in and give us his thoughts.
0:06:29 > 0:06:31Needs a little bit of TLC.
0:06:31 > 0:06:33I would suspect at the very minimum
0:06:33 > 0:06:35it probably needs new kitchen, new bathroom.
0:06:35 > 0:06:38Adding a second bedroom would always be very good,
0:06:38 > 0:06:42because with one bedroom, you're limited to the amount of people who can actually stay here.
0:06:42 > 0:06:46But two bedrooms would be good for either holiday let or an occupation,
0:06:46 > 0:06:47or a holiday home.
0:06:47 > 0:06:48So, let's talk money.
0:06:48 > 0:06:51What could this place achieve
0:06:51 > 0:06:53on the rental market with its current layout?
0:06:53 > 0:06:56In the low season, you'd be looking at
0:06:56 > 0:06:58anywhere between £200 and £310 a week.
0:06:58 > 0:07:01High season, I would have thought between £400 and £450 a week.
0:07:01 > 0:07:06What about once converted into a two-bed?
0:07:06 > 0:07:09High season, I would have thought probably around £500 a week.
0:07:09 > 0:07:12And how about the resale market?
0:07:12 > 0:07:15As a one-bedroom flat, fully renovated,
0:07:15 > 0:07:18I would suggest it would probably be worth
0:07:18 > 0:07:20in the region of around £100,000.
0:07:20 > 0:07:24As a two-bedroom flat, probably around about £120,000.
0:07:25 > 0:07:28Well, as a holiday let or a holiday getaway,
0:07:28 > 0:07:30if you want a slice of seaside life,
0:07:30 > 0:07:32you can't go wrong with this little flat.
0:07:32 > 0:07:34Yes, there is work to be done,
0:07:34 > 0:07:36but you certainly can't knock the location.
0:07:36 > 0:07:39Let's see who fancied it when it went under the hammer.
0:07:41 > 0:07:44Where do you want to start? who will start me at £60,000?
0:07:44 > 0:07:47Who'll give me 60? Do I see 60,000 anywhere?
0:07:47 > 0:07:4960, thank you, sir. Keep moving, 65?
0:07:49 > 0:07:5365, thank you. Do I see 70, 70,000? Thank you.
0:07:53 > 0:07:55I'll take ones to keep it moving, 71 anywhere?
0:07:55 > 0:07:5771, thank you, fresh bid.
0:07:57 > 0:07:5971, 72? 72, thank you.
0:07:59 > 0:08:0173, thank you. 74?
0:08:01 > 0:08:0474,000, thank you very much. 74.
0:08:04 > 0:08:0775? Thank you, sir, 75, you're back in the game, 76?
0:08:07 > 0:08:1076. Do I see 77?
0:08:10 > 0:08:1377. 78? 78, 78 on the phone.
0:08:13 > 0:08:1879? 79 and a half? 79 and a half on the phone, do I see 80?
0:08:18 > 0:08:2179, £80,000, £80,000.
0:08:21 > 0:08:2480,500, do we see 81?
0:08:24 > 0:08:2681. 82?
0:08:26 > 0:08:2982. 83? 83. 84?
0:08:29 > 0:08:3184, 85?
0:08:31 > 0:08:3285, 86?
0:08:32 > 0:08:35No, it's your bid, sir, happy at 85, yeah?
0:08:35 > 0:08:3885,000, then, for the first time.
0:08:38 > 0:08:4385,000 for the second, and absolutely the last time.
0:08:43 > 0:08:45Property sold for 85,000, thank you.
0:08:45 > 0:08:50The successful bid of 85,000 was made by couple Rachel and David,
0:08:50 > 0:08:53who both work in the water-treatment business.
0:08:53 > 0:08:56I caught up with them at the property to find out their plans.
0:08:56 > 0:08:58David, Rachel, lovely to meet you both.
0:08:58 > 0:08:59- And you, hello.- Hello.
0:08:59 > 0:09:03- Congratulations!- Thank you. - You've got yourselves a little place in Whitby!
0:09:03 > 0:09:08- Tell me why you wanted to buy it. - We like Whitby, we like the east coast, there's so much to do.
0:09:08 > 0:09:12The hustle and bustle is very different from the home life.
0:09:12 > 0:09:15We live in a field, really, back in Sheffield.
0:09:15 > 0:09:19- A field?- Yes, no neighbours.- So, hustle and bustle for the weekend...
0:09:19 > 0:09:21is the idea behind it.
0:09:21 > 0:09:24In fact, Rachel and David are keen walkers,
0:09:24 > 0:09:28and see this as a holiday cottage for their dogs and themselves.
0:09:28 > 0:09:32They also have an interesting story about how this place
0:09:32 > 0:09:34caught their attention.
0:09:35 > 0:09:38- We've been doing some charity work in Scotland.- Oh.
0:09:38 > 0:09:40It was getting late, we hadn't eaten,
0:09:40 > 0:09:43so I said, shall we pop to the Magpie for fish and chips?
0:09:43 > 0:09:48So we went to the Magpie and saw the "For sale" sign,
0:09:48 > 0:09:50and one thing led to another.
0:09:50 > 0:09:53- So, your desire for a fish-and-chip supper...- Cost us a lot of money!
0:09:53 > 0:09:55Yes!
0:09:55 > 0:09:58Well, the couple aren't at all put off by the crowds of tourists,
0:09:58 > 0:10:00and they're both looking forward to
0:10:00 > 0:10:02enjoying the local pubs and restaurants,
0:10:02 > 0:10:06including fish-and-chip shops, in the area.
0:10:06 > 0:10:07So, the flat itself, then.
0:10:07 > 0:10:09Obviously, it needs a little bit of work.
0:10:09 > 0:10:11Tell me what you're going to do to sort it out.
0:10:11 > 0:10:14- We're going to move the back door to start with.- Right.
0:10:14 > 0:10:18Extend the bedroom, and then the area will be kitchen, dining,
0:10:18 > 0:10:19full glass at the front.
0:10:19 > 0:10:22Ooh, you're talking about lots of glassy things on the front -
0:10:22 > 0:10:25that sounds to me like planning permission.
0:10:25 > 0:10:28I think sliding doors onto the balcony,
0:10:28 > 0:10:31as opposed to perhaps glass all over.
0:10:31 > 0:10:34- We'll need to be sure. - Sure what we can actually do.
0:10:34 > 0:10:39- That's great. So, what's the kind of budget for the work?- 40,000.
0:10:39 > 0:10:41Wow, that's quite a lot.
0:10:41 > 0:10:43- All done and dusted, though.- Furnishing.
0:10:43 > 0:10:45Everything, top to bottom.
0:10:45 > 0:10:47- We're talking...- High quality.- Yeah.
0:10:47 > 0:10:48Yeah. Dead swish.
0:10:48 > 0:10:52The reason behind the higher-than-normal budget
0:10:52 > 0:10:53for this kind of property is that
0:10:53 > 0:10:57Rachel and David are not planning to make a quick profit here.
0:10:57 > 0:11:01This holiday home will be for themselves to enjoy.
0:11:03 > 0:11:05I think it's a getaway for us.
0:11:05 > 0:11:08We'll see how we go. We've never had a holiday home before, have we?
0:11:08 > 0:11:10So, what about timescale?
0:11:10 > 0:11:13I think if we can be ready for next season...
0:11:13 > 0:11:15OK, giving yourselves about a year, then?
0:11:15 > 0:11:18Yeah, the building permission is
0:11:18 > 0:11:21four to six weeks for the council, et cetera,
0:11:21 > 0:11:24so that's going to slow us down a little bit.
0:11:24 > 0:11:26Brilliant for you to make this place...
0:11:26 > 0:11:28It sounds like it's going to be amazing.
0:11:28 > 0:11:31- Hope so.- Indeed, I think we're really excited about it, yeah.
0:11:31 > 0:11:33- I'm delighted for you, congratulations.- Thank you.
0:11:33 > 0:11:36- Really look forward to seeing how you transform the place.- Thank you.
0:11:36 > 0:11:39- Good luck with it. - Thank you very much.- Thanks.
0:11:39 > 0:11:42Well, it turned out to be an expensive fish-and-chip supper
0:11:42 > 0:11:43for Rachel and David,
0:11:43 > 0:11:47but I think they've got themselves a cracking little property here,
0:11:47 > 0:11:49and some interesting ideas to sort it out too.
0:11:49 > 0:11:51Still work to be done,
0:11:51 > 0:11:55but I think we'll find a wonderful little flat here in Whitby
0:11:55 > 0:11:57when we return later in the show.
0:12:03 > 0:12:09Welcome to Leybourne Lakes country park in Kent. How peaceful.
0:12:09 > 0:12:10Leybourne is commuter country,
0:12:10 > 0:12:14and highly desirable for families looking for semi-rural living.
0:12:15 > 0:12:17A five-minute drive from the lakes,
0:12:17 > 0:12:20and the views are slightly less lovely,
0:12:20 > 0:12:23but the guide price for this four-bedroom home is
0:12:23 > 0:12:25still extremely appealing.
0:12:25 > 0:12:31£195,000 to £205,000, so we're not talking period charm here,
0:12:31 > 0:12:36but I'm hoping there'll be practicality and space in spades.
0:12:36 > 0:12:38I'm going to go in and find out.
0:12:40 > 0:12:42This quiet cul-de-sac was built in 1985,
0:12:42 > 0:12:47when, as you can see, mock Tudor was all the rage.
0:12:47 > 0:12:48# '80s
0:12:48 > 0:12:51# I'm living in the '80s... #
0:12:53 > 0:12:57Just like legwarmers, shoulder pads and ra-ra skirts,
0:12:57 > 0:13:00let's hope we escape the mock Tudor grandeur inside.
0:13:03 > 0:13:05Well, I know this house was built in the '80s,
0:13:05 > 0:13:08and you really get that feeling the minute you walk through the door,
0:13:08 > 0:13:10it smacks you in the face.
0:13:10 > 0:13:13Lots of dark, oppressive woodwork everywhere,
0:13:13 > 0:13:17but saying that, what a fantastic hallway.
0:13:17 > 0:13:20A lovely, grand staircase there. It's very open.
0:13:20 > 0:13:22You've got a nice-size dining room,
0:13:22 > 0:13:25or a study, or a playroom back there.
0:13:25 > 0:13:28A lovely sitting room, that would be wonderful for a family.
0:13:30 > 0:13:32Now, the kitchen, a great size,
0:13:32 > 0:13:33and for the first time ever on the show,
0:13:33 > 0:13:37I'm going to say I don't think you need to knock through here
0:13:37 > 0:13:39to open the space up, because it's sufficient,
0:13:39 > 0:13:41it would serve a family well.
0:13:41 > 0:13:45You've got a nice little area at the back here to put a table.
0:13:45 > 0:13:47I'd probably get rid of all of this,
0:13:47 > 0:13:49because I think there's too much kitchen.
0:13:49 > 0:13:52And come with me, because I want to show you the garden.
0:13:52 > 0:13:54You're not going to believe it, look!
0:13:54 > 0:13:58Argh! The overgrown wilderness, argh!
0:13:58 > 0:14:00There is so much going on out there,
0:14:00 > 0:14:02but you have got a good-sized garden.
0:14:02 > 0:14:06Once that's sorted, you've got a really great house here.
0:14:06 > 0:14:09Before getting your hands dirty in the garden,
0:14:09 > 0:14:11there's plenty of work to do inside.
0:14:12 > 0:14:14The kitchen, with its pastiche screens
0:14:14 > 0:14:19and dated units, looks oh, so... Um, what's the word?
0:14:19 > 0:14:21# '80s... #
0:14:22 > 0:14:26Ah, yes, that's it, but it is big enough to use as a kitchen diner.
0:14:28 > 0:14:32The sitting room is a good size, even with the imposing fireplace.
0:14:35 > 0:14:39That means the dining room, as I said, could be used as a playroom.
0:14:39 > 0:14:41And as for the oh, so...
0:14:41 > 0:14:42# '80s... #
0:14:42 > 0:14:46..wallpaper, the floral pattern is almost real.
0:14:46 > 0:14:50Hold on a minute - the creeping ivy has forced its way through
0:14:50 > 0:14:52the crumbling woodwork in the window.
0:14:52 > 0:14:55Although the property is double glazed,
0:14:55 > 0:14:58the window frames will need remedial work.
0:14:58 > 0:15:01First, let's take a look upstairs.
0:15:01 > 0:15:05What a lovely, big window. It lets in so much light on this landing.
0:15:05 > 0:15:09It's got a galleried feel to it. I really like it upstairs.
0:15:09 > 0:15:13Oops - looks as though the ceiling has collapsed.
0:15:13 > 0:15:15Now, it might look worse than it is.
0:15:15 > 0:15:19There's probably been some sort of leak up there, so I'd definitely check the roof
0:15:19 > 0:15:21and check that water's still not coming in.
0:15:21 > 0:15:23You'd need to get somebody in to look at that.
0:15:23 > 0:15:25So, you've got a rather small bedroom to the front.
0:15:25 > 0:15:30A bathroom, very dated avocado suite, you'd need to update that.
0:15:30 > 0:15:31Another bedroom here.
0:15:31 > 0:15:34Be great if you could get the water tank out
0:15:34 > 0:15:38and put that somewhere else, cos that takes a bit of that room up.
0:15:38 > 0:15:39Another bedroom to the front.
0:15:39 > 0:15:42All the rooms are perfect for a family to move in to this house.
0:15:42 > 0:15:47And look at this - this is a wonderful bedroom.
0:15:47 > 0:15:50We've got two big windows, again, loads of light coming in,
0:15:50 > 0:15:53and obviously, what I love is the en suite here.
0:15:53 > 0:15:55So, it needs updating, it needs modernising.
0:15:55 > 0:15:58In fact, everything in this whole house does.
0:15:58 > 0:16:01So, you've got a great house with great bone structure -
0:16:01 > 0:16:03just needs a bit more fashion sense.
0:16:03 > 0:16:07# You're out of fashion
0:16:10 > 0:16:12# Your moment's over... #
0:16:13 > 0:16:16Some say that '80s style is on its way back,
0:16:16 > 0:16:20but avocado bathroom suites, I think, are best left behind.
0:16:22 > 0:16:25Layout-wise, this property is in tip-top shape,
0:16:25 > 0:16:28with a guide price of 195 to £205,000.
0:16:30 > 0:16:34Surely, a developer could bestow a makeover on this fashion disaster.
0:16:34 > 0:16:37# You're out of fashion... #
0:16:39 > 0:16:41We invited a local estate agent
0:16:41 > 0:16:44to give us his opinion on this property.
0:16:44 > 0:16:45I think it's a very good investment.
0:16:45 > 0:16:48You could either renovate it on a budget...
0:16:48 > 0:16:51If you spent a lot of money to bring it up to a really high standard,
0:16:51 > 0:16:54again, I think there's sufficient profit in it,
0:16:54 > 0:16:56so I think it's a very good buy.
0:16:56 > 0:17:00How much could this property achieve if sold in its current condition,
0:17:00 > 0:17:02and then once renovated?
0:17:04 > 0:17:06In its current condition,
0:17:06 > 0:17:10I would anticipate it being worth about £250,000.
0:17:10 > 0:17:12Renovated to a high standard,
0:17:12 > 0:17:15I would anticipate selling for probably between 290
0:17:15 > 0:17:18and maybe £300,000 on a good day.
0:17:19 > 0:17:20And rental income?
0:17:20 > 0:17:25We could probably attract a tenant at about £1,200 per calendar month.
0:17:29 > 0:17:33I think this is a big, spacious, solid house
0:17:33 > 0:17:35in a great re-sale location.
0:17:35 > 0:17:39It needs work, but come on, that's where the money is in property,
0:17:39 > 0:17:42and what gets pulses racing at the auction.
0:17:42 > 0:17:46Looking for 200,000. 200 all the way.
0:17:46 > 0:17:49At 200. Now 205?
0:17:49 > 0:17:50205. And 210?
0:17:50 > 0:17:52210, and 15?
0:17:52 > 0:17:55215, and 20?
0:17:55 > 0:17:56And 25?
0:17:56 > 0:17:5825, 225,000.
0:17:58 > 0:18:00225 sitting down, and 30?
0:18:00 > 0:18:04230, at 225 it's with you.
0:18:04 > 0:18:07She's not bidding against herself, don't worry.
0:18:07 > 0:18:09225, I've got on the right.
0:18:09 > 0:18:11230 in a fresh place right at the back.
0:18:11 > 0:18:15Now it's your turn, 235. And 40, 245?
0:18:16 > 0:18:20250, the lady says, 250, and five?
0:18:20 > 0:18:22Sitting down at £250,000.
0:18:22 > 0:18:26255, he's back, 260, now, it's against you.
0:18:26 > 0:18:28255 then, sitting right at the back, I've got.
0:18:28 > 0:18:31255, I've got for the first time.
0:18:32 > 0:18:35255 for the second time, if you're sure.
0:18:35 > 0:18:37You're all done, you've all had your fair chance.
0:18:37 > 0:18:42255 sitting right at the back for the third and final time.
0:18:42 > 0:18:48It was John and Martin who made the successful bid of 255,000.
0:18:50 > 0:18:53They're semi-retired shop fitters who also dabble in property.
0:18:53 > 0:18:56Unfortunately, they exceeded
0:18:56 > 0:18:59the stamp duty level of 250,000 by five grand,
0:18:59 > 0:19:04making their actual outlay £262,650.
0:19:05 > 0:19:07Guys, congratulations.
0:19:07 > 0:19:10I bet you're absolutely thrilled to have got this.
0:19:10 > 0:19:13What was it that appealed to you, Martin?
0:19:13 > 0:19:17Well, we knew the estate and we knew that it was in a good area,
0:19:17 > 0:19:18so that really appealed to us,
0:19:18 > 0:19:21and we could see that when we came to have a look round
0:19:21 > 0:19:24that there wasn't an awful lot to do to the house
0:19:24 > 0:19:25to get it back to how we wanted it,
0:19:25 > 0:19:27so we thought it would be a really good buy.
0:19:27 > 0:19:30We think it's about 23 years old.
0:19:30 > 0:19:34When we came in and saw how it had stood up over that period of time,
0:19:34 > 0:19:36we thought it would be a really good buy.
0:19:36 > 0:19:39And then you see the garden.
0:19:39 > 0:19:42Has that just been left for many, many years?
0:19:42 > 0:19:45Well, it has. We've spoken to the neighbours,
0:19:45 > 0:19:48and they said that it's just been left as it is,
0:19:48 > 0:19:51and it's just completely overgrown in those 23 years.
0:19:51 > 0:19:55Bearing in mind the local estate agent's top-end valuation
0:19:55 > 0:19:58of £300,000 for this house once renovated,
0:19:58 > 0:20:01John and Martin must keep control of their spending
0:20:01 > 0:20:05in order to maximise their potential profit.
0:20:05 > 0:20:08So, how are you going to curb the spending, chaps?
0:20:08 > 0:20:12Because it does still need quite a lot doing.
0:20:12 > 0:20:14You know, you've got a lot of bathrooms in this house,
0:20:14 > 0:20:17it's great that it's big and there are so many bathrooms,
0:20:17 > 0:20:20- but you've got to refurb them, you've got to change them.- Yes.
0:20:20 > 0:20:22You've got a nice-size kitchen, are you going to change that?
0:20:22 > 0:20:25We are, we're going to completely renew the kitchen
0:20:25 > 0:20:28with a modern kitchen with granite worktops.
0:20:28 > 0:20:31Do you really need granite in the kitchen?
0:20:31 > 0:20:34- You do.- OK. Right, there you go, that told me! Granite it is, then!
0:20:34 > 0:20:37- Would you not like granite in your kitchen?- I would,
0:20:37 > 0:20:40but I would also like a nice, chunky profit to walk away with.
0:20:40 > 0:20:42You've got to do a lot of work here.
0:20:42 > 0:20:46In my opinion, walk in the door, it's stuck in a time warp,
0:20:46 > 0:20:47it's very dated.
0:20:47 > 0:20:50It's oppressive because there's so much dark wood everywhere.
0:20:50 > 0:20:53What are you going to do to change that?
0:20:53 > 0:20:56Some of the dark wood, we might look at trying to change some of it,
0:20:56 > 0:20:58but we've also been in the neighbours' houses
0:20:58 > 0:21:00to see what they've done,
0:21:00 > 0:21:04and actually, the neighbours have kept a lot of the dark wood in it,
0:21:04 > 0:21:06and as long as everything else is lightened up,
0:21:06 > 0:21:08it doesn't look too bad.
0:21:08 > 0:21:12Do you not think to paint everything would give it a more modern edge?
0:21:12 > 0:21:14You don't agree, Martin, you don't agree!
0:21:14 > 0:21:15I'm not saying we don't agree.
0:21:15 > 0:21:19I mean, what we're trying to do is keep costs down as much as we can,
0:21:19 > 0:21:23and, um, you know, we will have a look at this sort of thing,
0:21:23 > 0:21:26and if we think it's appropriate, we certainly will do it.
0:21:27 > 0:21:31John and Martin have a £25,000 budget for the renovation,
0:21:31 > 0:21:34and having previously developed several properties in the local area,
0:21:34 > 0:21:36they know their market.
0:21:36 > 0:21:38Do you guys get stressed while doing it?
0:21:38 > 0:21:42Because a lot of people I meet, they get so stressed, everything's very stressful
0:21:42 > 0:21:45and it's costly. You seem like you enjoy what you do and it's fun.
0:21:45 > 0:21:47We wouldn't be doing it if it stressed us out.
0:21:47 > 0:21:50Things will happen, things will go wrong,
0:21:50 > 0:21:53we'll end up spending more money than we thought we would,
0:21:53 > 0:21:54and we know that from day one.
0:21:54 > 0:21:59Why don't you try, on this project, to not spend too much money,
0:21:59 > 0:22:01- try and do it on a budget? - We'll try.
0:22:01 > 0:22:03I'm going to hold you to that.
0:22:03 > 0:22:06- Martin, it's been lovely talking to you, good luck. - Nice to speak to you.
0:22:06 > 0:22:09- John, thank you so much, good luck. - You're welcome.
0:22:09 > 0:22:13I can't believe this house has been empty for so long
0:22:13 > 0:22:14and it's in such good nick.
0:22:14 > 0:22:17Martin and John will have to reign each other in
0:22:17 > 0:22:18on the spending, though,
0:22:18 > 0:22:22because although a shiny, high-end kitchen would be lovely,
0:22:22 > 0:22:25the profit margins are reasonably tight here.
0:22:25 > 0:22:30Join us later in the show to see, hopefully, a transformed home,
0:22:30 > 0:22:34nice, light, painted woodwork, and maybe even a garden.
0:22:35 > 0:22:38Coming up, I'm in Cornwall,
0:22:38 > 0:22:40where there's an odd odour about this property.
0:22:40 > 0:22:44Clear signs of damp to back up the smell.
0:22:46 > 0:22:51In Kent, the experts are impressed with John and Martin's handiwork.
0:22:51 > 0:22:55The property is one of the best transformations I've seen.
0:22:56 > 0:23:00But first, in Whitby, for David and Rachel, there's no doubt who's boss.
0:23:00 > 0:23:02I gave my point of view for decorations
0:23:02 > 0:23:05and then Rachel decided what we were having.
0:23:10 > 0:23:14As we mentioned earlier, Whitby, with its dramatic coastline,
0:23:14 > 0:23:17inspired Bram Stoker to write Dracula.
0:23:21 > 0:23:25But these days, you're more likely to find rock-licking holidaymakers
0:23:25 > 0:23:26than a blood-sucking vampire.
0:23:29 > 0:23:33However, Sheffield couple David and Rachel
0:23:33 > 0:23:36were looking to sink their teeth into renovating
0:23:36 > 0:23:40this one-bedroom apartment on the promenade above a shop premises,
0:23:40 > 0:23:41to make it their weekend getaway.
0:23:41 > 0:23:43We like Whitby, we like the east coast.
0:23:43 > 0:23:46The hustle and bustle is very different from the home life.
0:23:46 > 0:23:50We live in a field, really, back in Sheffield.
0:23:50 > 0:23:54- A field?- Yes, no neighbours. - Some hustle for the weekend.
0:23:54 > 0:23:57The couple bought the property at auction for 85,000,
0:23:57 > 0:24:01and had a whopping £40,000 budget to create their home from home
0:24:01 > 0:24:05to enjoy, as they say, the hustle and bustle of Whitby.
0:24:05 > 0:24:06So, after eight months,
0:24:06 > 0:24:10have they created the swish seaside getaway they'd hoped?
0:24:19 > 0:24:24This looks like an oh, so sweet weekend retreat.
0:24:24 > 0:24:28# Everybody got, everybody got something for the weekend... #
0:24:28 > 0:24:33David and Rachel have worked wonders, I'm really impressed.
0:24:33 > 0:24:36They've created an absolutely beautiful
0:24:36 > 0:24:39and stylish open-plan apartment.
0:24:39 > 0:24:43# Everybody got, everybody got something for the weekend... #
0:24:43 > 0:24:45We went back to bare walls, bare floors,
0:24:45 > 0:24:47everything was ripped out and gutted.
0:24:47 > 0:24:52Um, the structural element, a lot of beams have been installed.
0:24:53 > 0:24:57The couple removed the main support wall, installing a supporting beam,
0:24:57 > 0:25:01which allowed them to remodel the flat to their requirements.
0:25:03 > 0:25:07For a long time, it was just an open space with no walls,
0:25:07 > 0:25:10and it seemed to be a very slow process to getting to the stage
0:25:10 > 0:25:12of having internal walls.
0:25:22 > 0:25:26David and Rachel increased the size of the bedroom,
0:25:26 > 0:25:29taking space from what is now the kitchen
0:25:29 > 0:25:31by moving the rear door to where the window used to be.
0:25:34 > 0:25:37When you start moving walls, I found it difficult to envisage
0:25:37 > 0:25:39and imagine how large rooms would be,
0:25:39 > 0:25:41but the highlight for me has been
0:25:41 > 0:25:44the kitchen through to the dining room and the balcony.
0:25:47 > 0:25:50This part of the flat is changed, probably, more than any other.
0:25:50 > 0:25:52This used to be the kitchen area here.
0:25:52 > 0:25:55Um, so all the cabinets were on this side,
0:25:55 > 0:25:58the patio doors weren't there, that was a solid wall.
0:25:58 > 0:26:00We're particularly pleased with the glass work
0:26:00 > 0:26:02and the patio doors which slide all the way back,
0:26:02 > 0:26:05so if we have a nice summer's day, we can let lots of light in.
0:26:05 > 0:26:07Also the brick wall, um,
0:26:07 > 0:26:10this is just to hint to the age of the property.
0:26:10 > 0:26:14It's fairly modern throughout the rest of the flat, I think,
0:26:14 > 0:26:17so this has come up really well with the glazing,
0:26:17 > 0:26:19and I think that contrasts well
0:26:19 > 0:26:21with the modern chairs and the granite table.
0:26:21 > 0:26:26The only area Rachel and David couldn't possibly improve upon is
0:26:26 > 0:26:27their wonderful view.
0:26:30 > 0:26:33But now they have a lovely balcony to enjoy it from.
0:26:35 > 0:26:39- We're looking forward to sitting out there, aren't we?- Yes, yes.
0:26:39 > 0:26:42Hopefully, maybe tonight with a glass of champagne.
0:26:42 > 0:26:45Ah, you can't beat drinking a romantic bottle of bubbly
0:26:45 > 0:26:47while watching the sunset.
0:26:47 > 0:26:51In Sheffield, they have a traditional farmhouse,
0:26:51 > 0:26:54so decided to decorate this property in a contemporary style,
0:26:54 > 0:26:56with a high-spec finish.
0:26:58 > 0:27:00I gave my point of view for decorations,
0:27:00 > 0:27:03and then Rachel decided what we were having, so, uh...
0:27:09 > 0:27:12The feature wallpaper is a bold statement by Rachel,
0:27:12 > 0:27:15and might not be to everyone's taste,
0:27:15 > 0:27:17but this is the couple's home from home,
0:27:17 > 0:27:20so she has allowed her interior-design instincts to bloom.
0:27:22 > 0:27:26- Anybody who's been, actually, has commented on it, haven't they?- Yes.
0:27:26 > 0:27:28And said, "Ooh, we like that, although it's quite loud."
0:27:28 > 0:27:30It's different, isn't it?
0:27:30 > 0:27:31Possibly a hate or love,
0:27:31 > 0:27:34but we've had a lot of positives on the wallpaper.
0:27:34 > 0:27:36- Even the boys.- Yes.
0:27:36 > 0:27:37Even the builders.
0:27:37 > 0:27:40Mind you, they might not have been telling the truth, really.
0:27:44 > 0:27:47The living room is as sleek and stylish
0:27:47 > 0:27:49as the kitchen and dining area,
0:27:49 > 0:27:52but did the couple scrimp in the bathroom?
0:27:55 > 0:27:56Of course not.
0:27:56 > 0:28:00They've even treated themselves to an Italian designer glass basin.
0:28:00 > 0:28:06That whopping £40,000 budget doesn't seem so whopping after all.
0:28:06 > 0:28:10- The original budget we said was 40,000.- Yes.
0:28:10 > 0:28:13And I think we've gone to 60.
0:28:13 > 0:28:16Yes, which was, in part, in the heavy part,
0:28:16 > 0:28:18due to the structural elements,
0:28:18 > 0:28:20having to get in the architect.
0:28:20 > 0:28:22And the cost of the beams.
0:28:22 > 0:28:25The beams themselves, and the installation,
0:28:25 > 0:28:27and then, yes, one or two items.
0:28:27 > 0:28:31The kitchen, especially, slid over budget, shall we say?
0:28:31 > 0:28:35But I don't think... I think it's money well spent, hopefully.
0:28:35 > 0:28:37Included in the £60,000 spend is
0:28:37 > 0:28:41the three-year lease from the council for the back garden,
0:28:41 > 0:28:46which they've converted into a patio area for easy maintenance.
0:28:46 > 0:28:50David and Rachel have created a cool, contemporary weekend retreat,
0:28:50 > 0:28:53which I'm sure they'll enjoy for many years to come.
0:29:00 > 0:29:01We invited two local estate agents
0:29:01 > 0:29:04to give us their opinion of the property.
0:29:04 > 0:29:06Remarkably impressed.
0:29:06 > 0:29:09I think the apartment has been designed very well
0:29:09 > 0:29:11to bring in the light from the front.
0:29:11 > 0:29:15Obviously, key is the front view over the sea and the bay,
0:29:15 > 0:29:18so I think the design of the place is great.
0:29:18 > 0:29:22First impressions are everything, the oak floor,
0:29:22 > 0:29:25the matching oak doors, beautiful treatment of the brickwork,
0:29:25 > 0:29:27fantastic balcony, that's a great thing.
0:29:27 > 0:29:32Bearing in mind David and Rachel's total spend of 145,000,
0:29:32 > 0:29:36how much do the experts believe it could sell for?
0:29:36 > 0:29:41I think the value of this property in the current market
0:29:41 > 0:29:45would be somewhere in the region of £150,000.
0:29:45 > 0:29:47There is a premium attached to the location,
0:29:47 > 0:29:50the standard of finish that they have in it,
0:29:50 > 0:29:55and its overall layout and the general ambience of the whole thing,
0:29:55 > 0:29:59um, probably be 160 to £165,000 now.
0:30:03 > 0:30:07Those figures would give David and Rachel a pre-tax profit
0:30:07 > 0:30:10of between 5 and £20,000, minus the usual selling expenses.
0:30:10 > 0:30:14And if they ever decide to rent the property out as a holiday let,
0:30:14 > 0:30:18they could get as much as £650 per week in the high season.
0:30:19 > 0:30:22So, did the couple enjoy
0:30:22 > 0:30:24their auction experience?
0:30:24 > 0:30:29- I'd like another one to do!- Yeah, we've enjoyed this one, I think.
0:30:29 > 0:30:32I think the valuation is encouraging,
0:30:32 > 0:30:35because we haven't held back with the budget,
0:30:35 > 0:30:36I think it's fair to say.
0:30:36 > 0:30:39We've gone for quality and nice pieces,
0:30:39 > 0:30:42and so there's options to maybe do it again,
0:30:42 > 0:30:45and see how we get on.
0:30:47 > 0:30:49BIRDSONG
0:30:50 > 0:30:54# Sunrise, sunrise
0:30:54 > 0:30:56# Looks like morning in your eyes
0:30:56 > 0:31:02# But the clock's held 9.15 for hours... #
0:31:03 > 0:31:06A glorious sunrise in Cornwall.
0:31:06 > 0:31:10What a wonderful way to start my day.
0:31:10 > 0:31:12I'm in St Stephen, a former mining village, and even though
0:31:12 > 0:31:15the mines have long since closed,
0:31:15 > 0:31:18St Stephen has thrived.
0:31:18 > 0:31:23So, let's see if there's an opportunity to be mined here.
0:31:23 > 0:31:25The property I'm here to see
0:31:25 > 0:31:27is right on this main road
0:31:27 > 0:31:29that goes through the centre of the village.
0:31:29 > 0:31:33Fantastic if you're running a car showroom - lots of passing trade,
0:31:33 > 0:31:37but not ideal if you want to have a house with a bit of peace and quiet.
0:31:37 > 0:31:39But what we've got here sounds quite interesting -
0:31:39 > 0:31:43three bedrooms, guide price £75,000. Let's take a look.
0:31:47 > 0:31:49The main road may put off potential purchasers
0:31:49 > 0:31:52looking for country village tranquillity,
0:31:52 > 0:31:54but for a three-bedroom,
0:31:54 > 0:31:58mid-terrace house in this lovely village for just 75 grand,
0:31:58 > 0:32:00I'd put up with the hum of traffic.
0:32:00 > 0:32:05The catalogue definitely says this is a three-bedroom property
0:32:05 > 0:32:08and yet, from the front, it's more like a two-up, two-down.
0:32:08 > 0:32:11But here's a clue as to what might have happened,
0:32:11 > 0:32:14because at some stage, this has been knocked through to create
0:32:14 > 0:32:17this really lovely, big living room area.
0:32:17 > 0:32:20You've got an open fire and then this is where the property
0:32:20 > 0:32:23probably would have finished.
0:32:23 > 0:32:26However, somebody at some stage, has added on this extension to
0:32:26 > 0:32:29create an amazing kitchen.
0:32:29 > 0:32:33Yes, it's a bit tired and in need of some tender loving care,
0:32:33 > 0:32:36but what a fantastic family space this is.
0:32:36 > 0:32:40Views out onto the garden and yes, for 75,000 quid,
0:32:40 > 0:32:44it's a lot of property for the money.
0:32:44 > 0:32:47Maybe it was the delightful dawn this morning or my
0:32:47 > 0:32:49naturally sunny disposition,
0:32:49 > 0:32:53but I've taken a bit of a shine to these cheery tiles.
0:32:53 > 0:32:57The units are salvageable, and with a new worktop and new floor,
0:32:57 > 0:33:01you've got a lovely family kitchen diner.
0:33:01 > 0:33:05But an absolute must-have is French doors out to the back garden.
0:33:10 > 0:33:14Now, here's the tranquillity I was looking for.
0:33:18 > 0:33:22Upstairs, and the first thing that greets you is a really bad
0:33:22 > 0:33:24smell of damp, which is not a good sign.
0:33:24 > 0:33:28But let's just see what we've got. A bathroom here.
0:33:29 > 0:33:33Just not an ideal colour for a bathroom suite, I don't think.
0:33:33 > 0:33:36That needs to definitely be sorted out.
0:33:38 > 0:33:42Clear, visual signs of damp to back up the smell
0:33:42 > 0:33:45on this wall, here, so obviously something happening,
0:33:45 > 0:33:48maybe on the roof. And then, down this little corridor here,
0:33:48 > 0:33:52we've got two really not ideal bedrooms -
0:33:52 > 0:33:56one here, which, as you can see, is very long and thin,
0:33:56 > 0:34:01and then, the other one on this side.
0:34:01 > 0:34:05Somebody's begun to knock through two bedrooms
0:34:05 > 0:34:07and my guess is that originally, this was one bedroom.
0:34:07 > 0:34:10It's obviously had this stud partition wall put up.
0:34:10 > 0:34:12Keep it as two?
0:34:12 > 0:34:15Maybe if you just had a family with children here, perhaps,
0:34:15 > 0:34:18but otherwise my temptation,
0:34:18 > 0:34:21depending on how much it would be affecting the rent, would be
0:34:21 > 0:34:25to create one nice-sized room here because this really doesn't work.
0:34:26 > 0:34:29Upstairs a decision will need to be taken as to
0:34:29 > 0:34:32whether this is a family, or fun-sized, house.
0:34:34 > 0:34:37The choices - two small, single rooms at the back,
0:34:37 > 0:34:40or one good-sized master bedroom. To the front,
0:34:40 > 0:34:44the third bedroom is all odd angles, so perhaps
0:34:44 > 0:34:48I was a little premature to be quite so starry-eyed about this property.
0:34:48 > 0:34:52# Why am I so starry-eyed?
0:34:52 > 0:34:57# Starry-eyed and mystified. #
0:34:57 > 0:34:59And, of course, there's the damp.
0:34:59 > 0:35:01Could it be that the roof needs to be repaired?
0:35:01 > 0:35:03That's never cheap.
0:35:06 > 0:35:09We invited a local estate agent to give us
0:35:09 > 0:35:14his opinion on this house which had a guide price of £75,000.
0:35:14 > 0:35:16My first impressions of the property
0:35:16 > 0:35:19are it needs quite a lot of work doing to it.
0:35:19 > 0:35:22There are two little rooms at the back of this house.
0:35:22 > 0:35:24Tough shout whether to take down the partition wall
0:35:24 > 0:35:28and make it one large room, or leave it as two.
0:35:28 > 0:35:30Personally, if it was being left down to me,
0:35:30 > 0:35:33I'd probably leave it as two, as I think as a rental or
0:35:33 > 0:35:36sale, you'll probably achieve slightly more by doing that.
0:35:36 > 0:35:41How much could this place be worth in its current condition,
0:35:41 > 0:35:45and how much could it achieve once renovated, remaining as
0:35:45 > 0:35:47a three-bedroomed house?
0:35:47 > 0:35:51The property, as I see it today, is probably worth between 90 and 95,000.
0:35:51 > 0:35:54I'd say, with some significant changes,
0:35:54 > 0:35:57it will be closer to £125,000.
0:35:57 > 0:36:00And rental value?
0:36:00 > 0:36:03Once the property is renovated, I'd anticipate a rentable
0:36:03 > 0:36:06value of £650 per calendar month.
0:36:08 > 0:36:12So, some sorting out to be done, particularly with the layout
0:36:12 > 0:36:15upstairs, but it's a good house in a very popular location,
0:36:15 > 0:36:18and I think there could even be a bit of a quick profit on this
0:36:18 > 0:36:21one, or a great place to live or rental opportunity.
0:36:21 > 0:36:24Let's see who fancied it when it went under the hammer.
0:36:24 > 0:36:28£75,000 to start. I'll take 70, if it helps.
0:36:29 > 0:36:3265, then.
0:36:32 > 0:36:34Well, you do surprise me,
0:36:34 > 0:36:37and, I suppose, slightly disappoint me, too.
0:36:37 > 0:36:38£65,000.
0:36:38 > 0:36:41I'll take your bid - £65,000.
0:36:41 > 0:36:44Two more, 65,000 and 67. 69.
0:36:46 > 0:36:4869.
0:36:48 > 0:36:4969, 71, 71,
0:36:49 > 0:36:51and three?
0:36:53 > 0:36:56Little bit more squeezing to do here.
0:36:56 > 0:36:5873?
0:36:58 > 0:36:59You're at your limit, aren't you?
0:36:59 > 0:37:02OK, ladies and gentlemen, £71,000 at the back of the room,
0:37:02 > 0:37:04if I can't take it any further.
0:37:04 > 0:37:07No further advances at £71,000?
0:37:07 > 0:37:10I can't quite sell it there, either.
0:37:10 > 0:37:12How disappointing.
0:37:12 > 0:37:15The property failed to reach its reserve price.
0:37:15 > 0:37:18But a deal was done after the auction,
0:37:18 > 0:37:23when it sold to retired HGV driver John and market trader Jan,
0:37:23 > 0:37:26for £72,500.
0:37:26 > 0:37:30They paid £2,500 under the guide price.
0:37:30 > 0:37:33I'm certain John is a cool customer.
0:37:33 > 0:37:36After all, he's wearing shorts and a T-shirt in winter.
0:37:36 > 0:37:38He's a braver man than me!
0:37:38 > 0:37:42- Congratulations.- Thank you.- Tell me why you wanted to buy this place.
0:37:42 > 0:37:45- Erm, I'm not sure really.- Right!
0:37:45 > 0:37:48I just thought I'd have a look to see if there was any
0:37:48 > 0:37:52property in our price range, and this one came up and the price
0:37:52 > 0:37:55was near enough our price range, so I thought let's give it a go.
0:37:55 > 0:37:58- How was the auction?- Scary.
0:37:58 > 0:38:02Like two rabbits in the headlights. Frightened to death.
0:38:02 > 0:38:03Especially for John.
0:38:03 > 0:38:05I don't think he thought I would put my hand up.
0:38:05 > 0:38:07- That was the first shock.- But I did.
0:38:07 > 0:38:12And then we actually bought it post-auction.
0:38:12 > 0:38:16We didn't quite reach the price he wanted at the auction itself,
0:38:16 > 0:38:19so we had a chat afterwards and come to an agreement.
0:38:19 > 0:38:23- And then it was no return.- Were you happy with what you paid?- Yes.
0:38:23 > 0:38:26I think so. I think looking at it again,
0:38:26 > 0:38:28we've had a fairly good deal.
0:38:28 > 0:38:33- Have you done anything like this before, at all?- No, not a thing.- No.
0:38:33 > 0:38:36New adventure. Do or die!
0:38:38 > 0:38:41I have to ask you, we're in January and you're wearing shorts.
0:38:41 > 0:38:45Is that normal round here or what?
0:38:45 > 0:38:47It is for me.
0:38:47 > 0:38:51All year round, 365 days of the year, it's shorts, isn't it?
0:38:51 > 0:38:53Unless it's a funeral.
0:38:53 > 0:38:55And then it's black shorts.
0:38:58 > 0:39:01# Who wears short shorts?
0:39:01 > 0:39:04# We wear short shorts. #
0:39:04 > 0:39:07Jan and John live in the area
0:39:07 > 0:39:09and would be on-site most days, project managing.
0:39:09 > 0:39:12They'll bring in the different trades as needed
0:39:12 > 0:39:15and do some of the general labouring themselves.
0:39:15 > 0:39:19- So tell me what you're going to do to sort it out.- Where do we start?
0:39:19 > 0:39:22The kitchen, we're going to just re-jig it, I think,
0:39:22 > 0:39:25and give it a bit of a revamp, aren't we?
0:39:25 > 0:39:28This will probably come down, because we want to open up the window
0:39:28 > 0:39:30that was originally there,
0:39:30 > 0:39:32because that's the outside wall,
0:39:32 > 0:39:34to get more light into the lounge.
0:39:34 > 0:39:38The lounge we'll probably keep as it is. Want to put a woodburner
0:39:38 > 0:39:43in there and new heating as well, throughout the house.
0:39:43 > 0:39:46What about the number of bedrooms? Are you thinking of changing?
0:39:46 > 0:39:50I think we'll probably keep the two small ones as two small bedrooms,
0:39:50 > 0:39:53and hope we get a family in with young children.
0:39:53 > 0:39:55If it's not possible,
0:39:55 > 0:39:57then we'd perhaps make it back into one again,
0:39:57 > 0:40:00but as you can see, it needs a bit of help up there.
0:40:00 > 0:40:01It's got a big hole in the wall.
0:40:03 > 0:40:05And some signs of damp, as well?
0:40:05 > 0:40:09Yes. We think it's been cured, we hope.
0:40:09 > 0:40:11It seems to be dry up there now,
0:40:11 > 0:40:13but it looked like it was a problem
0:40:13 > 0:40:15before, so hopefully that's been sorted.
0:40:15 > 0:40:20Yeah, well, there's some people had the roof
0:40:20 > 0:40:23done each side of us. They checked out our roof, as well.
0:40:23 > 0:40:26They put one or two little slates that were loose
0:40:26 > 0:40:28back in place.
0:40:28 > 0:40:29Right.
0:40:29 > 0:40:31- Hopefully, that's cured it. - That's sorted it.
0:40:31 > 0:40:35Jan and John are planning on letting out their new investment.
0:40:35 > 0:40:37while the local estate agent believed
0:40:37 > 0:40:39'they could maximise their rental income
0:40:39 > 0:40:41by retaining its three bedrooms,
0:40:41 > 0:40:43I would advise the best option is
0:40:43 > 0:40:46to return the property to its original two-bedroom layout,
0:40:46 > 0:40:48to avoid compromise,
0:40:48 > 0:40:51and disappointing potential tenants.
0:40:52 > 0:40:55What is the budget for doing the work?
0:40:55 > 0:40:58- Probably between 8,000 and 10,000, we think.- Something like that.
0:40:58 > 0:41:00And the timescale?
0:41:00 > 0:41:01SHE LAUGHS
0:41:01 > 0:41:04Well, it would be about a couple of months, or more.
0:41:04 > 0:41:07Yes. Probably, that's optimistic, isn't it?
0:41:07 > 0:41:09Three to six months, maybe.
0:41:09 > 0:41:11- Congratulations to you both. - Thank you.
0:41:11 > 0:41:13Lovely to meet you. Wish you all the best.
0:41:13 > 0:41:15Look forward to seeing how you get on.
0:41:15 > 0:41:18- Right!- Thank you!
0:41:20 > 0:41:25So, a new adventure for this Cornish couple.
0:41:25 > 0:41:28It may well have been a bit of a shock for John,
0:41:28 > 0:41:32but shorts all year round? He's obviously made of tough stuff,
0:41:32 > 0:41:33and can cope with everything.
0:41:33 > 0:41:35As long as he gets some good advice along the way.
0:41:35 > 0:41:38You can find out how they get on later in the show.
0:41:41 > 0:41:45It's been a while now since we last saw those properties.
0:41:45 > 0:41:47Has any work been done,
0:41:47 > 0:41:49or have they just got stuck in second gear?
0:41:49 > 0:41:50Let's find out.
0:41:53 > 0:41:54Let's return to Leybourne, in Kent,
0:41:54 > 0:41:56where I viewed this four-bedroom house.
0:41:56 > 0:42:01The interior was an impressive excess of mock-Tudor grandeur.
0:42:01 > 0:42:05But this was no "ye olde manor house".
0:42:05 > 0:42:08It was built in the mid-'80s.
0:42:08 > 0:42:11MUSIC: "Eighties" by Killing Joke
0:42:14 > 0:42:17It was bought at auction for 255,000,
0:42:17 > 0:42:21plus £7,650 stamp duty,
0:42:21 > 0:42:25by semi-retired shop fitters John and Martin.
0:42:25 > 0:42:28'While they thought the dark wood wasn't too bad,
0:42:28 > 0:42:32'I was convinced it was time to bring this property
0:42:32 > 0:42:34'bang up to date.'
0:42:34 > 0:42:35In my opinion,
0:42:35 > 0:42:37walking through the door,
0:42:37 > 0:42:38it's stuck in a time warp.
0:42:38 > 0:42:40What are you going to do to change that?
0:42:40 > 0:42:43Some of the dark wood we might have a look at trying to change.
0:42:43 > 0:42:45As long as everything else is lightened up,
0:42:45 > 0:42:47it doesn't look too bad.
0:42:48 > 0:42:51I'm afraid "not too bad" is not good enough,
0:42:51 > 0:42:54if this duo are to achieve the top-end price
0:42:54 > 0:42:57they need to make a healthy profit.
0:42:57 > 0:43:00Three months later, we're back.
0:43:00 > 0:43:04I hope we're not going to be disappointed.
0:43:04 > 0:43:08MUSIC: "How You Like Me Now?" by The Heavy
0:43:20 > 0:43:21Well, I like it a lot.
0:43:21 > 0:43:23This cool, contemporary look
0:43:23 > 0:43:25is just what this property needed.
0:43:30 > 0:43:33The colour scheme has a little bit to do with Lucy.
0:43:33 > 0:43:38Because she suggested that we paint everything out one colour.
0:43:38 > 0:43:42We was a bit sceptical to start with, but it's worked.
0:43:47 > 0:43:51We decided that we didn't want to go for creams and beige,
0:43:51 > 0:43:55which is what people usually do when they do refurbishments.
0:43:55 > 0:43:58So we just decided to go for very pale colours,
0:43:58 > 0:44:01and we've got this very pale off-white colour,
0:44:01 > 0:44:05and complemented it with the pale grey carpet.
0:44:06 > 0:44:08And I need to compliment John and Martin
0:44:08 > 0:44:10on their bold decision-making.
0:44:12 > 0:44:16Now, have they delivered on the high-spec kitchen?
0:44:21 > 0:44:24Of course they have!
0:44:24 > 0:44:26The major selling points of all properties
0:44:26 > 0:44:27are the kitchen and bathroom.
0:44:27 > 0:44:30I was unsure if investing in a granite worktop was wise,
0:44:30 > 0:44:34but having seen the result, I have to admit they proved me wrong.
0:44:36 > 0:44:40We always go for quite a high-quality finish.
0:44:40 > 0:44:43We think that's what people expect these days.
0:44:43 > 0:44:45It's no use refurbishing to a low standard,
0:44:45 > 0:44:48so we tend to go as high as we possibly can.
0:44:48 > 0:44:51And then, there was the rear garden!
0:44:51 > 0:44:54So overgrown, you couldn't even get into it!
0:44:57 > 0:45:01John and Martin have now created a lovely space,
0:45:01 > 0:45:03another good selling point.
0:45:04 > 0:45:07We had to get a mini digger in,
0:45:07 > 0:45:08and dig it all out,
0:45:08 > 0:45:10and re-laid it all with new turf.
0:45:10 > 0:45:12It's come out really well - we're really pleased with it.
0:45:12 > 0:45:14And so they should be.
0:45:17 > 0:45:19Let's take a little look upstairs.
0:45:21 > 0:45:24The master bedroom has been made over in the same colour palette
0:45:24 > 0:45:26as downstairs.
0:45:26 > 0:45:30John and Martin's dedication to quality can be seen
0:45:30 > 0:45:31in the en suite.
0:45:35 > 0:45:38One bedroom had a collapsed ceiling,
0:45:38 > 0:45:39but is now good as new.
0:45:39 > 0:45:42In fact, it's better.
0:45:47 > 0:45:50John and Martin are semi-retired shop fitters,
0:45:50 > 0:45:53and carried out the majority of the work themselves,
0:45:53 > 0:45:56but were they able to keep on-schedule?
0:45:58 > 0:46:01We thought it would take three to four months,
0:46:01 > 0:46:04but the way things went, we've done in about 2½.
0:46:04 > 0:46:07So we're quite pleased with that.
0:46:07 > 0:46:09Well done. Ahead of schedule!
0:46:09 > 0:46:12But what about that £5,000 budget?
0:46:15 > 0:46:18Because quality like this costs a pretty penny.
0:46:20 > 0:46:23We ended up spending round about the 30,000 mark,
0:46:23 > 0:46:26basically, because we changed the windows,
0:46:26 > 0:46:28which we weren't going to do, originally.
0:46:28 > 0:46:30But, having looked into it further,
0:46:30 > 0:46:32we thought it would make so much difference,
0:46:32 > 0:46:34so we decided to go along with that.
0:46:36 > 0:46:38John and Martin may have overspent,
0:46:38 > 0:46:40but they've overspent wisely,
0:46:40 > 0:46:43on areas that will attract potential purchasers.
0:46:46 > 0:46:49We asked two local estate agents for their opinions,
0:46:49 > 0:46:52including the one who visited the property previously.
0:46:52 > 0:46:54My first impression's really good.
0:46:54 > 0:46:57They've done an absolutely fabulous job.
0:46:57 > 0:47:00I think now the property is, in my view,
0:47:00 > 0:47:04one of the best transformations I've seen.
0:47:04 > 0:47:05They've really gone to town.
0:47:05 > 0:47:08I think they've done a fabulous job.
0:47:08 > 0:47:10This property is presented so well.
0:47:10 > 0:47:11It's contemporary,
0:47:11 > 0:47:13it's modern,
0:47:13 > 0:47:16and a really crisp finish to everything that they've done.
0:47:16 > 0:47:18The choice of the colour, when I first saw it,
0:47:18 > 0:47:22my initial reaction was, "Perhaps that won't be to everybody's taste".
0:47:22 > 0:47:25But actually, it grows on you very quickly,
0:47:25 > 0:47:27and it becomes very apparent, very quickly,
0:47:27 > 0:47:29that it's very sympathetic to the property.
0:47:29 > 0:47:31It's of the moment,
0:47:31 > 0:47:34and I think most folk are going to really like it.
0:47:34 > 0:47:38John and Martin are putting this property up for sale.
0:47:38 > 0:47:40They have spent a total
0:47:40 > 0:47:43of £292,650,
0:47:43 > 0:47:45purchasing and renovating it.
0:47:45 > 0:47:49How much do the estate agents believe it could sell for?
0:47:50 > 0:47:53My recollection, when I visited the property initially,
0:47:53 > 0:47:55suggested that once it was renovated,
0:47:55 > 0:47:58it would achieve something in the region of £300,000.
0:47:58 > 0:48:01However, now - despite the fact that the market conditions
0:48:01 > 0:48:03haven't really changed -
0:48:03 > 0:48:06but the quality of the work is so good,
0:48:06 > 0:48:10I think we could probably ask as much as £320,000.
0:48:10 > 0:48:13I would expect to market this property
0:48:13 > 0:48:15around £325,000.
0:48:17 > 0:48:19Those figures would give John and Martin
0:48:19 > 0:48:22a potential profit of between £27,350
0:48:22 > 0:48:26and £32,350 -
0:48:26 > 0:48:28minus the usual selling expenses, of course.
0:48:28 > 0:48:32What do they think of that?
0:48:32 > 0:48:34We believe that's low
0:48:34 > 0:48:36for this property.
0:48:36 > 0:48:38It's such a nice area,
0:48:38 > 0:48:42and we had two agents come out last week,
0:48:42 > 0:48:45and both valued it at £350,000 plus.
0:48:45 > 0:48:49That's around about where we think it should be - around 350,000.
0:48:49 > 0:48:51We'll see how we get on with that.
0:48:59 > 0:49:03So what's next for John and Martin?
0:49:03 > 0:49:06We're always looking for new projects,
0:49:06 > 0:49:09and we'll just keep our eye out
0:49:09 > 0:49:11for similar sorts of projects.
0:49:11 > 0:49:14As and when they come along, we'll go for them.
0:49:14 > 0:49:18Yep - if the opportunity arises, we'll be there.
0:49:22 > 0:49:24Let's return to the lovely Cornish village
0:49:24 > 0:49:28of St Stephen, near St Austell,
0:49:28 > 0:49:31where I saw this three-bedroom house, which had a guide price
0:49:31 > 0:49:33of £75,000.
0:49:36 > 0:49:38The spacious sitting room...
0:49:40 > 0:49:44..the family-sized kitchen,
0:49:44 > 0:49:47and delightfully peaceful back garden
0:49:47 > 0:49:49had me starry-eyed at this property's potential.
0:49:53 > 0:49:55Upstairs, however,
0:49:55 > 0:49:59the compromised three bedrooms were poorly partitioned, or oddly angled,
0:49:59 > 0:50:04which brought this shooting star crashing down to earth.
0:50:04 > 0:50:07It failed to reach its reserve price at auction,
0:50:07 > 0:50:09but was purchased afterwards by John and Jan,
0:50:09 > 0:50:12for £72,500.
0:50:15 > 0:50:19'It was their first auction, and first property development.'
0:50:19 > 0:50:21How was the auction?
0:50:21 > 0:50:23Scary!
0:50:23 > 0:50:24SHE LAUGHS
0:50:24 > 0:50:26Like two rabbits in the headlights.
0:50:26 > 0:50:30- Have you done anything like this before?- No.- Not a thing.
0:50:30 > 0:50:32New adventure.
0:50:32 > 0:50:34So, three months later, we're back to see
0:50:34 > 0:50:38if John and Jan have a star in the making.
0:50:42 > 0:50:44MUSIC: "Starry Eyed" by Ellie Goulding
0:50:47 > 0:50:51What a wonderfully warm and welcoming sitting room!
0:50:55 > 0:50:59By removing the outdated fireplace, and creating a window,
0:50:59 > 0:51:01which looks through to the kitchen,
0:51:01 > 0:51:03the sitting room now feels even larger,
0:51:03 > 0:51:06with the woodburner adding a touch of rural charm.
0:51:06 > 0:51:11That continues with these country kitchen-style units.
0:51:11 > 0:51:13There's obviously a lot of work still to be done,
0:51:13 > 0:51:17but John and Jan have certainly been busy.
0:51:17 > 0:51:19We've been here every day,
0:51:19 > 0:51:21probably for the last month and a half, haven't we?
0:51:21 > 0:51:23Yeah.
0:51:23 > 0:51:24Doing something.
0:51:24 > 0:51:28And we've had a plumber to do a good part of the work.
0:51:28 > 0:51:32The electrician's done a fair bit of work for us, as well.
0:51:32 > 0:51:36- And I've just been the labourer. - You've been a really good labourer.
0:51:36 > 0:51:38I've been fitted in wherever they wanted me.
0:51:38 > 0:51:40He has all sorts of skills now he didn't have before.
0:51:40 > 0:51:41SHE LAUGHS
0:51:41 > 0:51:44We're not going on another one to carry on my skills,
0:51:44 > 0:51:45I tell you that.
0:51:45 > 0:51:49It would appear that John's enthusiasm for property developing
0:51:49 > 0:51:50may be on the wane.
0:51:50 > 0:51:53But it seems the couple are doing a great job,
0:51:53 > 0:51:56and it's already starting to pay dividends.
0:51:56 > 0:51:58We've got a tenant ready to move in,
0:51:58 > 0:52:01and hopefully she'll be here long-term -
0:52:01 > 0:52:02that's her plan.
0:52:02 > 0:52:04She didn't want short-term, so...
0:52:04 > 0:52:06We're happy with that, aren't we?
0:52:06 > 0:52:07And so they should be.
0:52:07 > 0:52:10Now, what about the rear bedroom conundrum?
0:52:10 > 0:52:12Did they keep two small single bedrooms,
0:52:12 > 0:52:14or turn it into one bigger bedroom?
0:52:18 > 0:52:20I'm glad to see they've followed my advice.
0:52:20 > 0:52:24It's a delightful double bedroom.
0:52:24 > 0:52:27We did think maybe about keeping it as three.
0:52:27 > 0:52:30We thought maybe it would be better from a rental point of view,
0:52:30 > 0:52:32we might get more money.
0:52:32 > 0:52:34As it turned out, the lady that wants to move in
0:52:34 > 0:52:36has got a teenage son
0:52:36 > 0:52:39who really didn't want to sleep in such a small room, did he?
0:52:39 > 0:52:41Cos he would have slept in one room,
0:52:41 > 0:52:44and his clothes and wardrobe would have been in the other bedroom...
0:52:44 > 0:52:45He wasn't happy.
0:52:45 > 0:52:48He didn't want to walk all the way round every day, to get dressed.
0:52:48 > 0:52:51And now for Jan and John's masterstroke.
0:52:51 > 0:52:53The front bedroom
0:52:53 > 0:52:54was oddly shaped,
0:52:54 > 0:52:58but has been transformed into a bright and spacious double bedroom.
0:52:59 > 0:53:02The couple achieved this by turning around the stairs,
0:53:02 > 0:53:05allowing the space that was used as hallway
0:53:05 > 0:53:06to become part of the bedroom.
0:53:08 > 0:53:10All they need to do is fit the banister,
0:53:10 > 0:53:12and their great idea will be complete.
0:53:12 > 0:53:15Now you can put two beds in that room,
0:53:15 > 0:53:16if you wanted to.
0:53:16 > 0:53:18Before, you could fit a bed and a matchbox,
0:53:18 > 0:53:20and that was just about it.
0:53:20 > 0:53:23We're quite pleased that we did it.
0:53:24 > 0:53:29Jan and John had a budget of between £8,000 and £10,000.
0:53:29 > 0:53:32They believe they'll have spent the full £10,000
0:53:32 > 0:53:35when the renovation is complete.
0:53:35 > 0:53:38The couple originally had a three-to-six-month schedule,
0:53:38 > 0:53:41but with the tenants due to move in in two days' time,
0:53:41 > 0:53:44they'd best get cracking with those finishing touches.
0:53:44 > 0:53:50It's been hard work, but how have they enjoyed working together?
0:53:50 > 0:53:53On the whole, not too bad.
0:53:53 > 0:53:55THEY LAUGH
0:53:55 > 0:53:57Last couple of days has been a bit of a strain.
0:53:57 > 0:53:59A bit fraught, yes.
0:53:59 > 0:54:01The air has been a bit blue,
0:54:01 > 0:54:04but that's what it's all about, working together.
0:54:04 > 0:54:07As you can see, I'm still working.
0:54:07 > 0:54:10As you can see, I'm relaxing. I've done my share.
0:54:12 > 0:54:16We invited two local estate agents to give us their opinion
0:54:16 > 0:54:19on Jan and John's efforts.
0:54:19 > 0:54:21Since my last visit, three months ago,
0:54:21 > 0:54:23the change has been quite significant.
0:54:23 > 0:54:25It looks a lot brighter.
0:54:25 > 0:54:26It's been decorated quite nicely,
0:54:26 > 0:54:29with new floor coverings, which really helps.
0:54:29 > 0:54:32I would say the largest change has been turning the staircase around,
0:54:32 > 0:54:34which has drastically altered upstairs.
0:54:34 > 0:54:37I like the fact that they've turned this into a two-bedroom,
0:54:37 > 0:54:38as opposed to a three.
0:54:38 > 0:54:41Inherently, these are quite small properties.
0:54:41 > 0:54:44The bedrooms are never usually that big.
0:54:44 > 0:54:47But now you have two decent double bedrooms.
0:54:49 > 0:54:53Bearing in mind the couple's purchase price of £72,000,
0:54:53 > 0:54:55and their projected renovation costs
0:54:55 > 0:54:56of 10,000,
0:54:56 > 0:54:59how much could this property sell for?
0:54:59 > 0:55:01I would value this, for resale purposes -
0:55:01 > 0:55:04once all completed -
0:55:04 > 0:55:06at around £115,000.
0:55:06 > 0:55:08When they finish this property off,
0:55:08 > 0:55:11I would imagine it would go on the market at around 120,000,
0:55:11 > 0:55:14to achieve around £115,000.
0:55:14 > 0:55:16- Ooh, that's not bad. - That's not bad, is it?
0:55:16 > 0:55:18Not bad for a couple of weeks' work, is it?
0:55:18 > 0:55:21A couple of months.
0:55:21 > 0:55:23Yeah - very pleased with that.
0:55:23 > 0:55:26Yeah - not bad. I still ain't going to buy another one!
0:55:26 > 0:55:27THEY LAUGH
0:55:27 > 0:55:30However, Jan and John are letting this property out,
0:55:30 > 0:55:34so how much rental income do the estate agents believe
0:55:34 > 0:55:36this house could generate?
0:55:37 > 0:55:43I think you're looking around £550 to £575, per calendar month.
0:55:43 > 0:55:45I would say the rental income would be
0:55:45 > 0:55:48between £550 and £600, per calendar month.
0:55:48 > 0:55:50That's spot-on, really.
0:55:50 > 0:55:52- Not bad, is it? - What we were saying.
0:55:52 > 0:55:54We thought we'd get around that area.
0:55:54 > 0:55:56I'm pleased with that. Definitely.
0:55:56 > 0:55:57It ain't that far out.
0:56:01 > 0:56:03The couple are in fact
0:56:03 > 0:56:06receiving £550 per calendar month,
0:56:06 > 0:56:08which gives them a rental yield of 8%.
0:56:08 > 0:56:10Not bad at all.
0:56:10 > 0:56:12It's been hard work,
0:56:12 > 0:56:15but Jan and John are earning their due reward.
0:56:15 > 0:56:17So, will they be returning to an auction?
0:56:17 > 0:56:19SHE SIGHS
0:56:19 > 0:56:20Not a chance!
0:56:20 > 0:56:22Not a chance!
0:56:22 > 0:56:24THEY LAUGH
0:56:24 > 0:56:26No, it's been very hard work, hasn't it?
0:56:26 > 0:56:29Yeah. But I'm pleased with it.
0:56:29 > 0:56:30Yeah.
0:56:30 > 0:56:33- You pleased?- Yes, I'm pleased. - Good.
0:56:35 > 0:56:37So make sure you join us next time
0:56:37 > 0:56:39for more auction ups and downs.
0:56:39 > 0:56:41From basements, to bungalows,
0:56:41 > 0:56:43to building sites,
0:56:43 > 0:56:45you'll find it all on Homes Under The Hammer.
0:56:45 > 0:56:46- See you then.- Goodbye.- Goodbye.
0:57:08 > 0:57:11Subtitles by Red Bee Media Ltd