0:00:02 > 0:00:06Buying a house and being caught in the property chain is a nightmare.
0:00:06 > 0:00:08So how can you avoid the situation?
0:00:08 > 0:00:13One way to cut through the links of the chain is to buy your next house under the hammer.
0:00:39 > 0:00:44People go to auction with all sorts of budgets and they're looking for different kinds of properties.
0:00:44 > 0:00:49There's an enormous choice available, so what did our buyers bid for?
0:00:50 > 0:00:54'I'm in a Buckinghamshire semi with a decade dilemma.'
0:00:54 > 0:00:56Over here, very 1980s.
0:00:56 > 0:00:59Over this side, it's 1950s.
0:01:00 > 0:01:04'I search for a bungalow in this stunning Kent setting.'
0:01:04 > 0:01:09At the moment, it feels more like I'm on some kind of foraging expedition.
0:01:10 > 0:01:16'And I recommend a bit of elbow grease at a two-bed terrace in Tyne and Wear.'
0:01:16 > 0:01:20It's a bit more effort to do this, but what a difference it makes!
0:01:21 > 0:01:24'All these properties were sold at auction.
0:01:24 > 0:01:30- 'We'll find out who bought them and what they paid for them when they went under the hammer.'- Sold.
0:01:32 > 0:01:35I'm in glorious Buckinghamshire,
0:01:35 > 0:01:37in fact, in Prestwood,
0:01:37 > 0:01:41not far from where author Roald Dahl lived.
0:01:41 > 0:01:46The big question is, will today's property throw up some tales of the unexpected
0:01:46 > 0:01:49or will it be the property equivalent
0:01:49 > 0:01:53of one of the golden tickets in Willy Wonka's chocolate bars?
0:01:53 > 0:01:55# I'll tell you a story
0:01:55 > 0:01:58# To pass on to the end... #
0:02:02 > 0:02:05In 1960, the famous author settled in Great Missenden,
0:02:05 > 0:02:08a mile and a half from Prestwood village, with his family.
0:02:08 > 0:02:12It was here in a small hut at the bottom of the garden
0:02:12 > 0:02:16that he penned most of his unforgettable stories.
0:02:16 > 0:02:21It's also home to the main-line train station, the closest commuter link to Prestwood.
0:02:23 > 0:02:27It's a very pleasant place to live, easily commutable to London,
0:02:27 > 0:02:30yet you've got lots of countryside all around.
0:02:30 > 0:02:37The property I'm here to see is this, a three-bedroom semi-detached, with a guide price of 200,000 quid.
0:02:37 > 0:02:39Let's take a look.
0:02:39 > 0:02:43So we like the location. What about the house itself?
0:02:43 > 0:02:49Through the front door into this entrance area - rather unpleasant door on the under-stairs cupboard.
0:02:49 > 0:02:54Change that, so you've got a nicer feel when you walk through the front door.
0:02:54 > 0:02:59The other thing that I would contemplate is putting proper double glazing on here.
0:02:59 > 0:03:02You've got metal-framed windows called Crittall windows.
0:03:02 > 0:03:06They're not thermally efficient and they don't keep noise out,
0:03:06 > 0:03:10so kill two birds with one stone, put double glazing in there,
0:03:10 > 0:03:14but you come into this lovely, big room, it's a through lounge,
0:03:14 > 0:03:17lots of light, so that's a really nice feel to the place.
0:03:17 > 0:03:21One thing I do notice, piecing the property together,
0:03:21 > 0:03:25it's got some kind of a solid fuel fire here, so my guess is no gas,
0:03:25 > 0:03:31possibly no proper central heating throughout the whole house, so that needs to be addressed.
0:03:31 > 0:03:33Lots more light coming in here.
0:03:33 > 0:03:38Put a nice set of patio doors out on to the garden and that would finish that off.
0:03:38 > 0:03:42Through into the kitchen and it really is a kitchen of two eras.
0:03:42 > 0:03:46Over here, very 1980s, Duran Duran, eat your heart out!
0:03:46 > 0:03:51Over this side, it's 1950s. Elvis Presley would be very at home.
0:03:51 > 0:03:57- # I'm all shook up! # - Either way, it really does need being brought up to date.
0:03:57 > 0:04:00But overall, a very promising start.
0:04:00 > 0:04:06Off the kitchen is the slightly weathered porch which leads out to the back of the property.
0:04:06 > 0:04:11Underneath that snow is, believe me, a good-sized garden in need of a little love.
0:04:11 > 0:04:14# Got the snow, I, I...
0:04:14 > 0:04:18# Got the snow, I, I...
0:04:18 > 0:04:20# Got the snow, I, I...
0:04:20 > 0:04:24# Got the snow, I, I, got the snow... #
0:04:27 > 0:04:31Upstairs, the house has a pretty standard layout.
0:04:31 > 0:04:36The bathroom and loo are separate, but could be knocked together easily.
0:04:36 > 0:04:39The three bedrooms do need a re-vamp.
0:04:39 > 0:04:43Two are a fairly decent size with a boxroom at the front.
0:04:43 > 0:04:48However, this property could offer an opportunity for creating more space.
0:04:48 > 0:04:53Adding a two-storey extension to the side would make it more family-friendly
0:04:53 > 0:04:56and could mean significant added value.
0:04:56 > 0:05:01This is looking like a good buy. Is there anything not to like? Well, maybe.
0:05:02 > 0:05:06On the other side of this fence is the property.
0:05:06 > 0:05:11On this side of the fence, however, is this. It's an electricity sub-station.
0:05:11 > 0:05:15A lot of people have concerns about living under pylons,
0:05:15 > 0:05:21but some people aren't that keen being next to something like this, so you really need to consider that.
0:05:21 > 0:05:23It may or it may not affect the re-sale value.
0:05:23 > 0:05:26It's very close to the boundary of your property,
0:05:26 > 0:05:31so any plans for extension will have to be considered very carefully.
0:05:31 > 0:05:34# Shock me like an electric eel... #
0:05:35 > 0:05:39In terms of the village location, the property is a winner,
0:05:39 > 0:05:44but this sub-station's position may lose it points with some buyers.
0:05:44 > 0:05:48What does a local estate agent think of this three-bed semi,
0:05:48 > 0:05:50guided at £200,000?
0:05:53 > 0:05:56It needs a bit of work. Structurally, it looks sound.
0:05:56 > 0:06:01It needs double glazing, kitchen, bathroom, but it has great potential.
0:06:01 > 0:06:04How could the property fare financially,
0:06:04 > 0:06:08firstly, if given a basic renovation, but no extension?
0:06:08 > 0:06:14You could rent this property out as a three-bed in the region of £1,000 per calendar month.
0:06:14 > 0:06:18What if the plan was to do it up and sell it?
0:06:18 > 0:06:21I believe it could be sold on for around £250,000.
0:06:21 > 0:06:25If an extension was done to make this a four-bedroom property,
0:06:25 > 0:06:30he estimated a rental income of £1,350 per calendar month.
0:06:30 > 0:06:32How about a sale price?
0:06:32 > 0:06:35As a four-bed, with a double-storey extension to the side,
0:06:35 > 0:06:40I'd place it on the market for in the region of £335,000.
0:06:40 > 0:06:44# Turn me on with your electric feel... #
0:06:45 > 0:06:48Well, location - tick,
0:06:48 > 0:06:51potential to add value - big tick,
0:06:51 > 0:06:55proximity to electricity sub-station - uh-uh, large cross.
0:06:55 > 0:07:00Did it put people off? Let's find out when it went to the auction.
0:07:02 > 0:07:05This is Lot 118. Who'd like to start me on this?
0:07:05 > 0:07:08How much...? OK, we'll start there.
0:07:08 > 0:07:11180,000, I've got. Anybody else?
0:07:11 > 0:07:13181.
0:07:13 > 0:07:15182. 183.
0:07:15 > 0:07:18184. 185.
0:07:18 > 0:07:20186. 187.
0:07:20 > 0:07:23188.
0:07:23 > 0:07:25189. 190.
0:07:25 > 0:07:28191? OK. 192.
0:07:28 > 0:07:30193.
0:07:30 > 0:07:33194. 195.
0:07:33 > 0:07:35196.
0:07:35 > 0:07:36197.
0:07:36 > 0:07:39Yes? 198.
0:07:39 > 0:07:42199. 200,000.
0:07:42 > 0:07:44201?
0:07:44 > 0:07:47No? Anybody else for Lot 118?
0:07:47 > 0:07:53If not, 200 for the first, for the second, third and final time...
0:07:53 > 0:07:55All done?
0:07:55 > 0:07:57Sold, 200. Well done.
0:07:57 > 0:08:04'That successful £200,000 bid was bang on the guide price and came from Spanish-born Carmen,
0:08:04 > 0:08:06'a retired civil engineer.
0:08:06 > 0:08:11'She's planning to renovate the property with the help of her son-in-law Paul.
0:08:11 > 0:08:15'I met them both to give them something of an inquisition.'
0:08:15 > 0:08:21- Carmen, Paul, lovely to meet you both.- Hello.- Congratulations. Why did you want to buy this place?
0:08:21 > 0:08:24We were looking for something with potential to add on to
0:08:24 > 0:08:28because that's where we've seen you get the most value.
0:08:28 > 0:08:33- So, it looked like it had got space to extend on the side.- Yeah.
0:08:33 > 0:08:38There wasn't much at our price range that was kind of in a good area that had that spec.
0:08:38 > 0:08:42We put an offer in the week before of 220 and it got turned down.
0:08:42 > 0:08:49- Wow!- So we were very lucky.- So you saved 10% on what you were willing to pay.- Yeah.- Absolutely.- Great.
0:08:49 > 0:08:53- That was good.- So why did you ask Paul to be involved?
0:08:53 > 0:08:55We've done another project before.
0:08:55 > 0:09:01He's very good. He gives me a lot of moral support and practical support and... He's very good.
0:09:01 > 0:09:04- I'm very lucky to have such a son-in-law.- Absolutely.
0:09:04 > 0:09:06Paul, what's your experience?
0:09:06 > 0:09:10We've done three or four properties, mainly to live in ourselves,
0:09:10 > 0:09:14then sell on just to pay mortgages off and work our way up the ladder.
0:09:14 > 0:09:18- You and your wife? - Me, my mother-in-law and my wife.
0:09:18 > 0:09:22Between us, we've either lived in them or she's lived in them
0:09:22 > 0:09:25and we've bought various properties and done them up.
0:09:25 > 0:09:29'So, by no means novices and it's a great set-up if you can do it.
0:09:29 > 0:09:33'Not everyone could work so closely with their in-laws,
0:09:33 > 0:09:39'but Paul and Carmen seem a great team and have done up their own properties in the past to boot.
0:09:39 > 0:09:43'The purchase was heavily influenced by the potential to extend.
0:09:43 > 0:09:47'What else do they have in the pipeline here?'
0:09:47 > 0:09:49We've had some plans drawn up
0:09:49 > 0:09:54which we've submitted to the council for a two-storey extension on the side of the property.
0:09:54 > 0:09:59It will be a master bedroom upstairs with an en-suite and a dressing room,
0:09:59 > 0:10:03- then a big kitchen/dining room downstairs which will lead out on to the garden.- Wow!
0:10:03 > 0:10:07Then we'll spruce everything up and make it more modern.
0:10:07 > 0:10:12- You've put in a planning application or just had a preliminary chat? - We've put in the planning.
0:10:12 > 0:10:18- Have you spoken to them about an indication of whether or not they'll approve it?- It's only just gone in.
0:10:18 > 0:10:24- It's early days.- Sometimes it's good to engage the planning office before you put the application in.
0:10:24 > 0:10:30We've pushed them as far as we can to get as much information and they were getting a bit fed up by the end,
0:10:30 > 0:10:35so we'd better just get the plans in and we'll see how it goes from there.
0:10:35 > 0:10:39Good. So what's the kind of budget for the work you've got in mind?
0:10:39 > 0:10:43- Well, no more than 50,000.- £50,000?
0:10:43 > 0:10:48We hope, we hope. A little bit more maybe, but we hope to keep it under 50.
0:10:48 > 0:10:54'The plan is to have the place done in six to seven months and then put it back on the market to sell.
0:10:54 > 0:10:59'Carmen is considering bringing a team of builders over from Spain to do the work,
0:10:59 > 0:11:04'but whoever does it, she'll be keeping a close eye on them.'
0:11:05 > 0:11:09# Blue...
0:11:09 > 0:11:12# Spanish eyes... #
0:11:13 > 0:11:18- I'll manage the project with his help.- Manage being what? Coming in and telling people what to do?
0:11:18 > 0:11:24- No, I'll live here while the extension is going on. - Very noisy, very dirty, very smelly.
0:11:24 > 0:11:27No, I've done it before. I'm very adaptable. I adapt to anything.
0:11:27 > 0:11:32- OK.- She's basically living with us at the moment. I think she's a bit fed up.
0:11:32 > 0:11:36- They are fed up.- Sick of being asked to baby-sit every two minutes.
0:11:36 > 0:11:41You're looking forward to having your place again. It's an interesting way of doing it -
0:11:41 > 0:11:47- buying the properties, living in them, selling them, then having to buy somewhere else.- It's boredom.
0:11:47 > 0:11:53- It's giving you something to do since you retired.- At the moment, it's probably a hobby more than anything.
0:11:53 > 0:11:56I like design. I like doing that kind of project,
0:11:56 > 0:12:02so when life becomes a little bit dreary, I say, "Let's go and do a project," and I'll do it.
0:12:02 > 0:12:05Carmen's a good grafter. I'll give her that.
0:12:05 > 0:12:09I'll do all the painting, little jobs and things like that.
0:12:09 > 0:12:12Are you going to bring any Spanish influence to this?
0:12:12 > 0:12:16- I'm going to bring a little bit of rococo...- Rococo?- French.
0:12:16 > 0:12:19Mainly in the bedrooms. Downstairs will be very modern.
0:12:19 > 0:12:25OK. What kind of style will that be? Give me an example of what you'll have if this is rococo.
0:12:25 > 0:12:29- It's in the bedroom. - Just one bedroom, yes.
0:12:29 > 0:12:33- Chandeliers and...?- Yes, chandeliers and a kind of French...
0:12:33 > 0:12:35What do they call it? Toile de Jouy?
0:12:35 > 0:12:39- Toile?- I'm not getting involved in this side of it.
0:12:39 > 0:12:42It's rococo, a little bit, you know, sort of...
0:12:42 > 0:12:47White, pale colouring, overdone a bit, that sort of thing, but not in all the bedrooms.
0:12:47 > 0:12:53- Palace of Versailles type thing? - Not quite that elaborate, but yeah... - Wow! Fountains in the garden?
0:12:53 > 0:12:57No, I think that's just one bedroom that's going to be rococo.
0:12:57 > 0:13:03- The rest of the house is going to be quite modern.- Very modern. - Quite neutral.- Very European.- Wow!
0:13:03 > 0:13:08- Congratulations. Good luck. - Thank you.- We look forward to seeing how you get on.
0:13:08 > 0:13:11# Say you and your Spanish eyes
0:13:11 > 0:13:14# Will wait for me... #
0:13:15 > 0:13:21Well, when we come back, will we discover that the Spanish builders have been shipped in
0:13:21 > 0:13:25to build, amongst other things, the rococo bedroom?
0:13:25 > 0:13:30Before that, Carmen and Paul have got the more basic problems of getting planning permission.
0:13:30 > 0:13:33Find out how they get on later in the show.
0:13:37 > 0:13:42This is Rainham in Kent, a small town which boasts a fast train to London,
0:13:42 > 0:13:45useful shops, cafes and some beautiful buildings.
0:13:45 > 0:13:50For today's lot, I'll have to venture slightly off the main drag.
0:13:50 > 0:13:56# If you go down in the woods today, you're sure of a big surprise
0:13:56 > 0:14:01# If you go down in the woods today, you'd better go in disguise
0:14:01 > 0:14:04# For every bear that ever there was
0:14:04 > 0:14:06# Will gather there for certain because
0:14:06 > 0:14:11# Today's the day the teddy bears have their picnic... #
0:14:11 > 0:14:14I will be surprised if there are bears,
0:14:14 > 0:14:18but I'm hoping today's lot will give me the warm and fuzzies.
0:14:18 > 0:14:22So I was expecting a standard suburban semi,
0:14:22 > 0:14:26but I've left all those behind me back on the road
0:14:26 > 0:14:30and I'm assured the property is somewhere down this unadopted lane.
0:14:30 > 0:14:34At the moment, it feels more like I'm on some kind of foraging expedition
0:14:34 > 0:14:37or pleasant weekend ramble,
0:14:37 > 0:14:42but here it is, nestled or hidden in the trees, depending on which way you're looking at it.
0:14:42 > 0:14:48It's a bungalow with a guide price of 160,000 to 165,000.
0:14:48 > 0:14:50Oh, how very exciting!
0:14:50 > 0:14:54# It's so exciting
0:14:54 > 0:14:56# It's so exciting... #
0:14:56 > 0:14:58Talk about an ideal setting!
0:14:58 > 0:15:04Amongst the trees and woodland, you may feel a world away from Rainham, yet it's right on your doorstep.
0:15:04 > 0:15:10It's a perfect compromise if you struggle to pick between town and country living.
0:15:10 > 0:15:14So, stunning surroundings, but what of the bungalow itself?
0:15:15 > 0:15:18So, my first impressions...
0:15:18 > 0:15:21Well, this is where it goes downhill.
0:15:22 > 0:15:25It's old. It's older than old.
0:15:25 > 0:15:30It really smells of damp. It's incredibly grim.
0:15:30 > 0:15:34Everything just needs completely replacing.
0:15:34 > 0:15:36It's got a little room through there.
0:15:36 > 0:15:39There's damp in the corners.
0:15:39 > 0:15:42This is like a little lean-to bolted on the side.
0:15:42 > 0:15:45I mean, look, the floor...
0:15:45 > 0:15:47It's arcing over.
0:15:47 > 0:15:50The wallpaper's falling off.
0:15:50 > 0:15:53There is a gorgeous avocado suite in there...
0:15:53 > 0:15:54Not!
0:15:54 > 0:15:59I mean, there is nothing worth salvaging here.
0:15:59 > 0:16:02The space is good, but it's incredibly depressing.
0:16:02 > 0:16:06It's colder in here than outside.
0:16:07 > 0:16:11This is a knock-down job, if you're allowed to.
0:16:11 > 0:16:15The footprint comprises the living room with a bedroom to the rear,
0:16:15 > 0:16:18which includes access to some loft space.
0:16:18 > 0:16:21There are two entrances to what was once a kitchen.
0:16:21 > 0:16:25Off that, there's another tiny bedroom and that green bathroom.
0:16:25 > 0:16:29There is also a conservatory at the back and I use the word loosely.
0:16:29 > 0:16:35In amongst the overgrown garden is a shed and detached garage.
0:16:36 > 0:16:41Just because demolishing a property might be the cheap and easy option,
0:16:41 > 0:16:44it doesn't necessarily follow that the council will allow that.
0:16:44 > 0:16:48You can never assume anything when it comes to planning,
0:16:48 > 0:16:53but whatever you do, it needs to be sensitive to this beautiful setting.
0:16:53 > 0:16:57The bungalow may be average, but the garden is anything but.
0:16:58 > 0:17:02It's half an acre of garden surrounded by trees,
0:17:02 > 0:17:07utterly private and really like living within the gorgeous woodland itself.
0:17:07 > 0:17:13Now, looking at an Ordnance Survey map actually helps you realise the uniqueness of the position.
0:17:13 > 0:17:16The access road is here, the bungalow is here
0:17:16 > 0:17:22and the land it sits on really is a slice right out of the wood.
0:17:22 > 0:17:29Really! The question is, do you try and build something as amazing as the setting itself?
0:17:29 > 0:17:33Again that will depend on what the council allows.
0:17:33 > 0:17:37No matter how special the surroundings, every area has a ceiling price,
0:17:37 > 0:17:43so this postcode may not warrant building a property as lavish as the land.
0:17:43 > 0:17:47If you wanted to live here, you might not care about the sums,
0:17:47 > 0:17:52but an investor would definitely need to work out if a profit was possible here,
0:17:52 > 0:17:57even if they got it for anywhere near that £160,000 to £165,000 guide price.
0:17:57 > 0:18:00We asked a local estate agent for his views.
0:18:03 > 0:18:06First impressions of the lot,
0:18:06 > 0:18:10it's a very, very nice location, it's secluded, it's off a very nice road
0:18:10 > 0:18:15and an opportunity like this probably doesn't come along very often.
0:18:15 > 0:18:17You could extend it,
0:18:17 > 0:18:23you could knock it down, subject to permission, and build a very imposing property on it
0:18:23 > 0:18:26and it's in a very, very nice location,
0:18:26 > 0:18:29so I think the opportunities are great.
0:18:29 > 0:18:33What about the scope for financial returns, first, if sold on?
0:18:36 > 0:18:41If you were to build a four, five-bedroom house, two-storey,
0:18:41 > 0:18:44I think you could achieve a price in the region of 500,000.
0:18:44 > 0:18:48If you were restricted through planning for a bungalow,
0:18:48 > 0:18:55then I think you would be looking at a property in the region of 350,000 for a two, three-bedroom property.
0:18:55 > 0:18:57And rental?
0:18:57 > 0:19:02For rental purposes, if you were to build a smaller bungalow,
0:19:02 > 0:19:06I think you'd be looking for £750 a month,
0:19:06 > 0:19:11and if you were to achieve that two-storey, big house, four, five bedrooms,
0:19:11 > 0:19:16really, you could be looking in excess of £1,500 a month.
0:19:16 > 0:19:20These days, the chances of getting planning permission
0:19:20 > 0:19:24to build a home right in the middle of the wood are slim to none,
0:19:24 > 0:19:29but here, somebody's done that work for you and gifted the new owner with a canvas
0:19:29 > 0:19:32on which to paint a really special property.
0:19:32 > 0:19:35Let's see who went for it at the auction.
0:19:35 > 0:19:38This was the final lot of the day.
0:19:38 > 0:19:41Was it a case of best for last?
0:19:41 > 0:19:44Where do you want to start me? Make it 150 to get me going.
0:19:44 > 0:19:47150, hand straight up. 150 I've got. And 5.
0:19:47 > 0:19:50155 I've got. 160.
0:19:50 > 0:19:52160. And 5, it's against you?
0:19:52 > 0:19:57165, I'm looking for. Are we all done at £160,000? This is a good deal.
0:19:57 > 0:20:00At £160,000 then for the first time...
0:20:00 > 0:20:02to my maiden bidder.
0:20:02 > 0:20:05At £160,000 for the second...
0:20:05 > 0:20:10On my left-hand side at £160,000, if you're sure you're all done?
0:20:10 > 0:20:13It's yours, sir, at £160,000. Well done.
0:20:13 > 0:20:19'That successful bid of 160,000, at the lower end of the guide price, was made by Chris and Sue
0:20:19 > 0:20:22'who currently live in Nottingham.
0:20:22 > 0:20:29'The couple love animals. Not only do they have two dogs, but a horse and 14 chickens in their charge.'
0:20:29 > 0:20:31# Animal
0:20:31 > 0:20:34# You're an animal... #
0:20:34 > 0:20:39'I think I'm beginning to understand why they might have been attracted to this.'
0:20:39 > 0:20:42- Guys, congratulations.- Thank you.
0:20:42 > 0:20:48- Chris, Sue...- Thank you.- Well done. What have you gone and done? Whose idea was this then?
0:20:48 > 0:20:54- There you go, Sue's.- The wife's! - The wife's.- Blaming each other! - Why have you bought this?
0:20:54 > 0:21:00We bought this as a project heading towards our retirement, looking for a comfortable home into retirement.
0:21:00 > 0:21:04- So this is for you to live in? - Yes.- Not what's there now!
0:21:05 > 0:21:09Hopefully, a new build with the necessary planning approval.
0:21:09 > 0:21:12- So we're talking demolish and build? - Exactly.
0:21:12 > 0:21:15- We got married 18 months ago.- Oh!
0:21:15 > 0:21:18Sue's from this area, I'm from Nottingham,
0:21:18 > 0:21:24and the intention was to return to this area eventually anyway, as in retirement perhaps.
0:21:24 > 0:21:28We've been looking and this one is an adventure.
0:21:28 > 0:21:31- You can say that again! - There you go.
0:21:31 > 0:21:36Sue, this IS an adventure. I mean, it's not for everybody, this.
0:21:36 > 0:21:40What was it about this that made you want to bid for this on auction day?
0:21:40 > 0:21:47The area, but we also like the woods and the...off the beaten track.
0:21:47 > 0:21:49'This certainly fits that bill.
0:21:49 > 0:21:53'The couple are aware that some of the trees have preservation orders.
0:21:53 > 0:21:56'That is to be expected in established woodland.
0:21:56 > 0:22:01'It must be taken into consideration when it comes to the build.
0:22:01 > 0:22:07'There's plenty to love about this location and that was all they'd seen prior to purchasing.'
0:22:07 > 0:22:13- When you did see the property inside for the first time...- Which was this morning.- Which was this morning?!
0:22:13 > 0:22:16- Yes.- What did you think? - Exactly what I expected.
0:22:16 > 0:22:21- Not much good?- No, it was bought with the intention of demolition.
0:22:21 > 0:22:24What do you want to build here? The sky is the limit.
0:22:24 > 0:22:27We only have a need for a three-bedroom bungalow.
0:22:27 > 0:22:32We're getting on a little bit in life. It's more a retirement home for us than anything else.
0:22:32 > 0:22:35What's worrying you about this, Sue?
0:22:35 > 0:22:38I'm not worried about anything, really, am I?
0:22:38 > 0:22:42I rely on him. I rely on him. He does it well.
0:22:42 > 0:22:45- What will it be like for you to come back home?- Brilliant.
0:22:45 > 0:22:49The horse is already down here, so I'm missing him and my family.
0:22:49 > 0:22:52Yes, it'll all come together, we hope.
0:22:52 > 0:22:57- Chris, what will it be like for you? You're a Nottingham boy. - I'll have to adapt, won't I?
0:22:57 > 0:23:00Sue went the other way for five years.
0:23:00 > 0:23:05She came up to Nottingham for me, so it's just returning the compliment.
0:23:06 > 0:23:08'Aw! And what a lovely way to do so!
0:23:08 > 0:23:11'Chris has renovated property before
0:23:11 > 0:23:16'and has drawn up some plans for what he intends to build here for himself, Sue and their pets.
0:23:16 > 0:23:23'He knows what he wants the end product to be, but pinning down a budget is trickier.'
0:23:23 > 0:23:25How long is a piece of string, Lucy?
0:23:25 > 0:23:30- You must have a budget. You haven't got an endless purse string.- 200,000.
0:23:30 > 0:23:36- 200,000, that's quite a healthy budget, but that's to build whatever you choose to build.- Exactly.
0:23:36 > 0:23:39What sort of design and look will it have?
0:23:39 > 0:23:43Nothing spectacularly different from a standard build.
0:23:43 > 0:23:48- You're not going for something architecturally beautiful, lots of glass, very contemporary?- No.
0:23:48 > 0:23:53- Why not?- I don't think it suits the setting more than anything else.- Hmm.
0:23:53 > 0:23:56We're very conventional and normal, shall I say?
0:23:56 > 0:23:59Yes, I don't like the modern design. Do we?
0:23:59 > 0:24:04- So you want something cosy?- Yes. - Cosy and homely?- That's the one. - Wood-burner, that sort of thing.
0:24:04 > 0:24:08How long do you think it will take before you settle in?
0:24:08 > 0:24:11- I'm reckoning 12 to 18 months. - Yeah.- Really?- Yeah.
0:24:11 > 0:24:17It will be quite a while, plus we live in Nottingham, so there's the journey down to see to anything.
0:24:17 > 0:24:20How will that work while you're living up north?
0:24:20 > 0:24:26We'll have to set a team of builders on and they'll have to manage the project for us
0:24:26 > 0:24:29with us paying infrequent visits.
0:24:29 > 0:24:34Guys, I'm so excited for you. Good luck and I hope the planning goes your way.
0:24:34 > 0:24:39I hope we return to see a lovely, cosy, three-bed bungalow on this plot.
0:24:39 > 0:24:43- So nice to meet you both. - Thanks, Lucy.- Thank you.- Thank you.
0:24:44 > 0:24:48Well, the pair may think they're normal and conventional,
0:24:48 > 0:24:51but there aren't many people who take on such a big project
0:24:51 > 0:24:55and what an amazing project in a spectacular setting!
0:24:55 > 0:24:58I can't wait to see what they build here.
0:24:58 > 0:25:01Join me later in the show and you can find out.
0:25:02 > 0:25:08'Coming up, in this Tyne and Wear terrace, I'm talking tiny, but terrific.'
0:25:08 > 0:25:11It's not huge, but it needs no work, so we love it.
0:25:12 > 0:25:17'Did Chris and Sue find themselves in for a big surprise in those Kent woods?'
0:25:17 > 0:25:22We weren't quite expecting that amount of money, to be quite honest.
0:25:23 > 0:25:28'But first, did Carmen have to spend big bucks in Buckinghamshire?'
0:25:28 > 0:25:30So I'm very poor now.
0:25:36 > 0:25:41We're back in the charming village of Prestwood in Buckinghamshire
0:25:41 > 0:25:45where Spanish-born Carmen bought this three-bed semi at auction
0:25:45 > 0:25:48for bang on the guide price of 200,000.
0:25:48 > 0:25:54It needed a complete renovation and former civil engineer Carmen had enlisted son-in-law Paul
0:25:54 > 0:25:56to help oversee things.
0:25:56 > 0:26:01She planned to get her hands dirty and keep a very close eye on the proceedings.
0:26:03 > 0:26:06I'm going to manage the project with his help as well.
0:26:06 > 0:26:11- Coming in and telling people what to do?- No, I'll live here while the extension goes on.
0:26:11 > 0:26:14Very noisy, very dirty, very smelly.
0:26:14 > 0:26:18No, I've done it before. I'm very adaptable. I adapt to anything.
0:26:18 > 0:26:19OK...
0:26:20 > 0:26:23Adaptation was the name of the game here
0:26:23 > 0:26:28and serial developer Carmen was planning a two-storey extension.
0:26:28 > 0:26:33We've returned 13 months on to see if she and Paul have made the house magnifico.
0:26:34 > 0:26:37# Bamboleo, bambolea
0:26:37 > 0:26:41# Porque mi vida, yo la prefiero vivir asi
0:26:41 > 0:26:45# Bamboleo, bambolea
0:26:45 > 0:26:50# Porque mi vida, yo la prefiero vivir asi
0:26:50 > 0:26:54# Bamboleo, bambolea
0:26:54 > 0:26:58# Porque mi vida, yo la prefiero vivir asi
0:26:58 > 0:27:01# Bamboleo, bambolea... #
0:27:01 > 0:27:06With this now a utility room, there's only one place the kitchen could be.
0:27:07 > 0:27:12# Bamboleo, bambolea
0:27:12 > 0:27:15# Porque mi vida, yo la prefiero vivir asi... #
0:27:15 > 0:27:22And the downstairs kitchen/diner isn't the only impressive part of this two-storey extension.
0:27:22 > 0:27:26# Vivir asi-i-i-i... #
0:27:28 > 0:27:31This is the upstairs extension.
0:27:31 > 0:27:36Behind me, we've got the en-suite bathroom. Quite a good size.
0:27:36 > 0:27:38We've got a walk-in wardrobe there.
0:27:38 > 0:27:43This is the master bedroom. It's quite a long, sort of narrow room.
0:27:43 > 0:27:49The length of it gives a spacious feel. It's not as wide as we would have liked, but still a nice space.
0:27:49 > 0:27:54It all looks lovely now, but I wonder if Carmen's adaptability was tested?
0:27:54 > 0:27:59Did she really manage to live here while the work was in progress?
0:27:59 > 0:28:02Yes, I did. From day one more or less.
0:28:02 > 0:28:05I was living here with no central heating.
0:28:05 > 0:28:11What I did, one of the bedrooms, I make it like my little apartment.
0:28:11 > 0:28:16So I put television, I put everything there and I eat there. I did everything there.
0:28:18 > 0:28:21So it wasn't too bad, it wasn't too bad.
0:28:21 > 0:28:24Well, she did say she was adaptable.
0:28:24 > 0:28:29The renovation took longer than the planned 6-7 months,
0:28:29 > 0:28:33mainly due to getting the correct planning permission in place.
0:28:33 > 0:28:37All that's left to do is the garden, which is again covered in snow.
0:28:37 > 0:28:43Bur Carmen now has a beautiful four-bedroom property which she's set to sell soon.
0:28:43 > 0:28:47How did her budget of £50,000 hold up?
0:28:47 > 0:28:51I spent over 80,000, but...
0:28:51 > 0:28:56once you have started, you have to finish. So I'm very poor now!
0:28:58 > 0:29:02The good thing about the whole thing is I lost a lot of weight!
0:29:02 > 0:29:04Working so hard.
0:29:04 > 0:29:10So now when I recover my money I have to buy a new wardrobe - nothing fits any more!
0:29:10 > 0:29:15Well, that's one way to lose weight and hopefully have fun along the way.
0:29:15 > 0:29:19Carmen decided against bringing over a team of builders from Spain,
0:29:19 > 0:29:23although I do see a dash of Spanish influence in the decor.
0:29:23 > 0:29:27She also had Paul on hand when she needed him.
0:29:27 > 0:29:33I think Carmen's done an amazing job. What she's been through - she lived here with no heating.
0:29:33 > 0:29:39She's just a real grafter. She's got her head down and worked and been on the phone to people,
0:29:39 > 0:29:44pushing builders, and when she's at her wit's end, she phones me.
0:29:44 > 0:29:50But she's done most of the work on her own, pulling in help from family members,
0:29:50 > 0:29:52but she's done a really good job.
0:29:52 > 0:29:56This was no small project for them to tackle.
0:29:56 > 0:29:58Does she think she'll do another?
0:29:58 > 0:30:00It's too soon to ask!
0:30:00 > 0:30:02Probably, probably.
0:30:02 > 0:30:08I have to recover a little bit and then I'll probably look at another one.
0:30:08 > 0:30:12Otherwise, you know... I have to keep young.
0:30:12 > 0:30:16I'm very old, but I have to keep young.
0:30:16 > 0:30:22As long as I have my family's support and I don't feel alone, I think I'm going to carry on.
0:30:23 > 0:30:30Just before Carmen gets a well-earned rest, we invited two local property experts
0:30:30 > 0:30:36to cast their eyes over her latest project. One of them was here before the transformation.
0:30:36 > 0:30:43My first impression coming back today is they've done a fantastic job. It's really well presented.
0:30:43 > 0:30:50It's light, it's neutral. Very good size. I like the en suite off the master bedroom. Good job.
0:30:50 > 0:30:57The location's excellent and four bedrooms will be of benefit when it comes to selling.
0:30:57 > 0:31:02The property cost £200,000 at the auction
0:31:02 > 0:31:08and the total for the work was £80,000, meaning Carmen's invested £280,000 here.
0:31:08 > 0:31:13So could she make a healthy profit if she puts it on the sales market as she plans?
0:31:16 > 0:31:22If I was to put the property onto the market, I'd expect to achieve in the region of £375,000.
0:31:22 > 0:31:26I would expect this property to achieve £395,000.
0:31:26 > 0:31:31- That's very good.- It's very good. We had on our own, out of curiosity,
0:31:31 > 0:31:36two more valuations and it was about 400,
0:31:36 > 0:31:42- so the last price, not bad. The other one...- A bit low. - It's a little bit low for us.
0:31:42 > 0:31:47- We paid a lot of money for this house. - But 400, I think, in this climate,
0:31:47 > 0:31:52- if we could achieve close to that it would be very good.- 400 is OK.
0:31:52 > 0:31:54We're happy with that.
0:31:54 > 0:32:01If they do manage to sell for £400,000, there'd be a pre-tax profit of £120,000.
0:32:01 > 0:32:08If they take the rental route, the estate agents estimated £1,400-£1,500 per calendar month,
0:32:08 > 0:32:10which would yield around 6%.
0:32:10 > 0:32:17But Carmen's keen to get the money out of this property for when she's ready to do her next one.
0:32:17 > 0:32:20Will that be with Paul?
0:32:21 > 0:32:27We're still speaking to each other, so we've got a few projects we're talking about in the pipeline.
0:32:27 > 0:32:31Maybe doing the next one for me and my wife to live in.
0:32:31 > 0:32:35- Yes. - We'll see what we can come up with.
0:32:38 > 0:32:43Lying less than 30 miles west of Newcastle-upon-Tyne
0:32:43 > 0:32:46is the semi-rural village of Ryton.
0:32:46 > 0:32:49Traditionally an area built upon agriculture and mining,
0:32:49 > 0:32:54it increasingly attracts commuters to the more urban areas of Tyneside.
0:32:54 > 0:33:01I'm in an area of Ryton known as Crookhill, well known as a friendly, community-orientated place.
0:33:01 > 0:33:07The property I'm here to see could make a perfect family home. It is a two-bed mid-terrace.
0:33:07 > 0:33:13It had a guide price of £64,950 plus. Let's take a look.
0:33:13 > 0:33:19'I like the fact it's set back from the road and has a pleasant front garden. Good start.'
0:33:19 > 0:33:23So... Nice double-glazed front door there.
0:33:23 > 0:33:28And the rest of the house looks in part like it's double-glazed, which is good.
0:33:28 > 0:33:34Through into your living room area. It's a nice size. Looks like it's got central heating
0:33:34 > 0:33:39and reasonably new radiators. I love this fire surround.
0:33:39 > 0:33:45That's great. Odd ceiling. Kind of traditional for a certain age of house,
0:33:45 > 0:33:49but not to everyone's liking, perhaps. But it's a good size.
0:33:49 > 0:33:53Strange things going on with the walls. I wonder what that is.
0:33:53 > 0:34:00It looks like indications of damp, but as you come through into this rear area here...
0:34:02 > 0:34:06Yeah, look. Damp on that internal wall. That's a worry.
0:34:06 > 0:34:12Come down to this wall here, which is on the adjoining wall to the next property
0:34:12 > 0:34:16and there's loads of damp. Not only is the paint almost coming off,
0:34:16 > 0:34:21there's dampness on the carpet, paper's starting to peel off.
0:34:21 > 0:34:25But in terms of the layout, we like it. Continuing through,
0:34:25 > 0:34:30kitchen tacked on the back here is not in bad condition.
0:34:30 > 0:34:36On the face of it, a really nice house, but just a few big issues, particularly damp,
0:34:36 > 0:34:38that need to be addressed.
0:34:38 > 0:34:45'Yes, damp on internal walls is always slightly concerning, though not insurmountable.
0:34:45 > 0:34:51'The plaster will need to be hacked off and damp-proof membranes installed. That can be rather messy
0:34:51 > 0:34:54'and add to refurbishment costs.
0:34:54 > 0:35:00'There's also always the slight worry about what damage might have been done to floorboards and joists.
0:35:00 > 0:35:05'I'd certainly want to factor a contingency cost into the budget.'
0:35:05 > 0:35:11It's a relatively small thing, but one thing that really struck me here was it had character
0:35:11 > 0:35:16and what gave it that character, well, one thing was these doors.
0:35:16 > 0:35:22My guess is these are the original doors, but somebody's taken the time and trouble to strip them back
0:35:22 > 0:35:25or take them to a dip strip place.
0:35:25 > 0:35:31And look what we've ended up with. It drives me... Well, I get quite cross when I see houses
0:35:31 > 0:35:37where traditional doors have been taken off and just a simple, modern door put in its place.
0:35:37 > 0:35:41It's a little bit more effort to do it, but what a difference it makes.
0:35:41 > 0:35:45# I better knock on wood... #
0:35:47 > 0:35:53'Upstairs, the two bedrooms are pretty decent as well, with one small-ish double at the back
0:35:53 > 0:35:57'and one good-sized double at the front.
0:35:57 > 0:36:02'They're both rather tired and need some refreshing, whereas in the bathroom
0:36:02 > 0:36:08'there's an impressive white suite and standalone shower. You could leave this pretty much as is.'
0:36:08 > 0:36:14Now often when I visit this kind of house, you come to the rear and it's an afterthought,
0:36:14 > 0:36:19it's a mess, it requires clearing, it's full of old beds and rubbish.
0:36:19 > 0:36:23That's absolutely not the case here. A really nice little area.
0:36:23 > 0:36:26It's got these pebbles, a nice shed.
0:36:26 > 0:36:31It's not huge, but it doesn't need any work, so we love it.
0:36:34 > 0:36:40'Overall, this is a pretty together two-bedroom house. Double-glazed, in decent decorative order,
0:36:40 > 0:36:44'centrally-heated with an immaculate bathroom and good location,
0:36:44 > 0:36:51'so apart from those signs of damp, it looks as though it's got a lot going for it.
0:36:51 > 0:36:54'What does a local estate agent make of this place?
0:36:54 > 0:36:59'Is it really as promising as it seems?'
0:37:03 > 0:37:08This property needs a very small amount of money spending on it to fix the damp problem.
0:37:08 > 0:37:11The overall condition is fantastic.
0:37:11 > 0:37:16So we both agree that this does look like a pretty solid property.
0:37:16 > 0:37:23It was guided at £64,950, so could it potentially stack up as a good investment?
0:37:23 > 0:37:28If this property had the damp repairs done and also some decoration,
0:37:28 > 0:37:33I feel the property would be worth £80,000-£85,000.
0:37:33 > 0:37:39If we were to completely renovate the property and transform the kitchen and bathroom,
0:37:39 > 0:37:44it would then be worth £90,000-£95,000 on the open market.
0:37:44 > 0:37:47What about its rental potential?
0:37:47 > 0:37:50Crookhill is a really fast-moving rental area.
0:37:50 > 0:37:54We find properties can rent straight away.
0:37:54 > 0:38:02This is an excellent rental property and I feel it will achieve £475 per calendar month.
0:38:05 > 0:38:09Well, there's a lot going for this house - a nice area,
0:38:09 > 0:38:15a property that has a few issues, particularly damp, but it would make a lovely place to live.
0:38:15 > 0:38:20So let's see who went for it when it went under the hammer.
0:38:23 > 0:38:28Lot number 101. The two-bedroom mid-terrace property.
0:38:28 > 0:38:33It is an established area of Ryton. Easy access to facilities and road links.
0:38:33 > 0:38:3560,000 anywhere?
0:38:35 > 0:38:4160,000, the gentleman sitting down. £60,000. 61 bid. 62.
0:38:41 > 0:38:4463. 64. 65.
0:38:44 > 0:38:4766. 67.
0:38:47 > 0:38:4968. No?
0:38:49 > 0:38:53£67,000. New bidder. At 68.
0:38:53 > 0:38:5569? 69 bid. 70?
0:38:55 > 0:39:00The gentleman sitting down, at £69,000.
0:39:00 > 0:39:01500.
0:39:01 > 0:39:04500 bid. 500?
0:39:04 > 0:39:0670,000. 70,500?
0:39:06 > 0:39:10Definitely shaking this time. I'm going once at 70,000.
0:39:10 > 0:39:13I'm going for the second time at £70,000.
0:39:15 > 0:39:21So the hammer fell at £70,000 and the successful bid was made by Gordon.
0:39:21 > 0:39:25He was bidding on behalf of Tonya, the lady sitting beside him.
0:39:25 > 0:39:31Gordon works as a property manager for Tonya and will oversee the work to turn this into a rental property.
0:39:31 > 0:39:36I met him at the two-bed Ryton house to find out more.
0:39:39 > 0:39:43- Gordon, great to meet you.- And you. - What's going on with this place?
0:39:43 > 0:39:48It's a property that I'm going to oversee the work on,
0:39:48 > 0:39:52which has been bought by a lady who has a few properties,
0:39:52 > 0:39:57a small portfolio, a couple of commercial properties and a few rental houses.
0:39:57 > 0:40:04She's bought this one because a friend's mother wished to live in the area.
0:40:04 > 0:40:10And we basically said we'd go out, find a house and fit you up with a property.
0:40:10 > 0:40:13That's basically what's happening.
0:40:13 > 0:40:18- You've already got a tenant. - Yes. Moving in in two months' time.
0:40:18 > 0:40:25- OK. Is that your full-time job? - No, it's not.- What do you do? - I'm a farmer as well.- A farmer?!
0:40:25 > 0:40:29- What kind of farming do you do? - Beef cattle.- A big farm or...?
0:40:29 > 0:40:35- No, just a small farm. - I guess if it was super-big, you wouldn't have the time.
0:40:35 > 0:40:39Well, yes. I've cut down to working nine days a week now.
0:40:40 > 0:40:44# If you got a problem I don't care what it is
0:40:44 > 0:40:48# If you need a hand I can assure you this
0:40:48 > 0:40:53# I can help I've got two strong arms and I can help... #
0:40:53 > 0:40:59'There's no obvious connection between property and beef farming. He's done several renovations,
0:40:59 > 0:41:05'but also built the current house he lives in. He seems to be a man who can and he'll need to be
0:41:05 > 0:41:10'with that tenant moving in in just two months.'
0:41:10 > 0:41:16- What are you going to do to it? - Basically, all that needs done, the main thing is the damp.
0:41:16 > 0:41:24- So we'll get a damp-proof injection done. It'll all be decoration and new carpets.- Right.
0:41:24 > 0:41:31A little bit of work in the kitchen. We want to change the sink and put a drainer in.
0:41:31 > 0:41:35Probably put some new tiles in the kitchen and that's it.
0:41:35 > 0:41:40- So what's the budget for doing this? - I think between £4,000 and £5,000.
0:41:40 > 0:41:44So what will your involvement be in the renovation project?
0:41:44 > 0:41:50I'll just basically make the telephone calls to get the right people to do the job,
0:41:50 > 0:41:54oversee it, check it's done right. And that'll be it.
0:41:54 > 0:42:00- Congratulations.- Thank you. - Good luck with it. I look forward to seeing how you get on.
0:42:00 > 0:42:05# It would sure do me good to do you good, let me help... #
0:42:08 > 0:42:14So Gordon, the cattle farmer and man who can, taking on this project on behalf of his client.
0:42:14 > 0:42:20I'm sure he'll do a great job. I'm a bit concerned about the effort it'll take to sort out that damp.
0:42:20 > 0:42:24It's the damage that getting that done causes.
0:42:24 > 0:42:30One metre of plaster, all that. Can it all be done within budget on a tight timescale?
0:42:30 > 0:42:33You can find out later in the show.
0:42:36 > 0:42:40Time has passed and we're hoping that money has been well-spent.
0:42:40 > 0:42:44It would be great if all those grand plans had come to fruition...
0:42:44 > 0:42:49So let's go back to the properties and find out what happened.
0:42:53 > 0:43:01Earlier, we were in Rainham in Kent where married couple Chris and Sue bought this rather intriguing lot
0:43:01 > 0:43:06at an auction for 160 grand. The property itself may have been a battered old bungalow,
0:43:06 > 0:43:13but just look what surrounded it. And for one of them, buying this was all about coming home.
0:43:13 > 0:43:17- We got married 18 months ago... - Oh!
0:43:17 > 0:43:24Sue's from this area, I'm from Nottingham and the intention was to return to this area eventually,
0:43:24 > 0:43:26as in retirement, perhaps.
0:43:26 > 0:43:33- And we've been looking and this one is an adventure.- You can say that again!- There you go.
0:43:33 > 0:43:38Sue, this IS an adventure. It's not for everybody, this.
0:43:38 > 0:43:42What was it about this that made you want to bid for it?
0:43:42 > 0:43:49The area, but we also liked the woods and being off the beaten track.
0:43:49 > 0:43:53Being slightly hidden away with lots of land worked for them, too,
0:43:53 > 0:43:57as they have 14 chickens, two dogs and a horse to house.
0:43:57 > 0:44:02We're back 15½ months later to see what sits on the plot now.
0:44:04 > 0:44:09# I feel so untouched And I want you so much
0:44:09 > 0:44:12# And I just can't resist you
0:44:12 > 0:44:15# Been going crazy from the moment I met you... #
0:44:15 > 0:44:19And untouched is not quite what I expected.
0:44:19 > 0:44:25The plan had been to demolish this property so Sue and Chris could build their own,
0:44:25 > 0:44:27so why is it still standing?
0:44:27 > 0:44:31Since we last saw you, we've managed to obtain planning permission
0:44:31 > 0:44:35for a four-bedroom, detached-style bungalow on this particular site.
0:44:35 > 0:44:40It does stand forward of the existing property, which will be demolished,
0:44:40 > 0:44:45and had to be clad in timber to be in keeping with the area. It should complement it very well.
0:44:45 > 0:44:51Aha! Those words "planning permission" help explain it.
0:44:51 > 0:44:56It's never a fast process, particularly when you're building from scratch
0:44:56 > 0:45:02and having to negotiate and resubmit plans as they had to over the last 9 months,
0:45:02 > 0:45:07but that's not the only reason nothing's been done here.
0:45:07 > 0:45:11We decided it wasn't right for us. I've got a horse,
0:45:11 > 0:45:18- but there's not sufficient ground. - And there wasn't anywhere reasonable locally to stable the horse
0:45:18 > 0:45:22- and still live here. - Which is the long-term goal.
0:45:22 > 0:45:27Retirement, enjoy the animals. Chickens, geese, everything else.
0:45:27 > 0:45:30There wasn't quite enough room.
0:45:30 > 0:45:35# But I got a horse out in the country... #
0:45:35 > 0:45:39So Sue's horse has ground proceedings to a halt.
0:45:39 > 0:45:43Whilst I think it's a real shame this hasn't worked out for them,
0:45:43 > 0:45:49it's meant they can take on another adventure. What will they look for now?
0:45:49 > 0:45:53Very similar to this, perhaps with a little more available land.
0:45:53 > 0:45:57Yeah. And something we could live in while we're decorating, et cetera.
0:45:57 > 0:46:00But less of a project than this was.
0:46:00 > 0:46:06That wasn't the reason we changed our mind because we were quite looking forward to seeing it through,
0:46:06 > 0:46:11- but...we're getting older these days. I think that's what it is.- Yeah.
0:46:11 > 0:46:16Oh, age is just a number, Chris, but something new and fresh here is the plan.
0:46:16 > 0:46:23- What exactly did they get permission for?- A four-bedroom, detached, chalet-style bungalow
0:46:23 > 0:46:27with dining room, utility, en suites in two bedrooms,
0:46:27 > 0:46:32- and a family bathroom.- The bedroom downstairs was going to be for us.
0:46:32 > 0:46:35We were planning it for us in our old age.
0:46:35 > 0:46:40To that end, we had it with a bedroom and en suite on the ground floor,
0:46:40 > 0:46:47as well as three bedrooms on the upper floor, to save us climbing stairs when we perhaps couldn't.
0:46:47 > 0:46:51Those plans sound so perfect for them, have they any regrets?
0:46:51 > 0:46:58I would have liked to have lived here. If there had been more land, it's central for all the family,
0:46:58 > 0:47:04- but we'll just keep looking until we find something that's more suitable for us.- True.
0:47:04 > 0:47:08And our family...of animals.
0:47:10 > 0:47:12Which we intend to extend.
0:47:12 > 0:47:14You do, you're right.
0:47:14 > 0:47:18I think we'd best leave that.
0:47:18 > 0:47:22Sue and Chris purchased this for £160,000 at the auction,
0:47:22 > 0:47:24without planning permission.
0:47:24 > 0:47:28We invited two local estate agents to hear what they made of the plans
0:47:28 > 0:47:31and the potential profits.
0:47:31 > 0:47:36I've had a look at the plans and they look very suitable for this area.
0:47:36 > 0:47:42And there are restrictions on what you can and can't build.
0:47:42 > 0:47:45I think it will look very nice when it's finished.
0:47:45 > 0:47:50I think it is a good scheme and would sell very well once it's built.
0:47:50 > 0:47:54Once built, how much might it be worth?
0:47:54 > 0:47:58If the new four-bedroom chalet bungalow is built,
0:47:58 > 0:48:03it should achieve a price in the region of £400,000-£450,000.
0:48:03 > 0:48:09A four-bedroom chalet bungalow would resell for approximately £500,000.
0:48:09 > 0:48:13So some healthy returns for the completed property,
0:48:13 > 0:48:18but how about selling it on now with planning permission?
0:48:18 > 0:48:22I would value the property as it stands, with the planning permission,
0:48:22 > 0:48:27in the region of £200,000-£250,000.
0:48:27 > 0:48:33I would value this site, with planning permission, at £220,000-£240,000.
0:48:33 > 0:48:38Boy, am I glad they said that because they've already sold it on
0:48:38 > 0:48:43for £242,000. And where did they do that? At an auction, of course!
0:48:43 > 0:48:48How did it feel to be on the other side of the hammer?
0:48:48 > 0:48:51Less fraught, a lot more pleasurable.
0:48:51 > 0:48:56- Yes.- We weren't quite expecting that amount of money, to be quite honest.
0:48:56 > 0:48:58It was a pleasant surprise.
0:48:58 > 0:49:03Little wonder. Chris and Sue have made a profit of £82,000
0:49:03 > 0:49:07without having to put a single brick in place. With that extra money,
0:49:07 > 0:49:12they can now start their search again. Where have they got in mind?
0:49:14 > 0:49:16Round the corner?
0:49:16 > 0:49:21- Not too far distant from here, possibly!- Not that far away.
0:49:24 > 0:49:26# Let me help you... #
0:49:26 > 0:49:33It was in the Tyne and Wear town of Ryton where we came across this property in pretty decent condition.
0:49:33 > 0:49:37Good-sized rooms, double-glazing,
0:49:37 > 0:49:41reasonable decorative order and in a good location.
0:49:41 > 0:49:45The only potential problem was evidence of damp.
0:49:46 > 0:49:51It was bought at auction for £70,000 by Tonya on the right,
0:49:51 > 0:49:57but she wasn't going to do the work. That was down to her property manager, Gordon.
0:49:57 > 0:50:01# If you need a hand I can assure you of this
0:50:01 > 0:50:05- # I can help... # - Is this what you do? Your job?
0:50:05 > 0:50:10- Yes, I look after properties in this lady's portfolio.- Right.
0:50:10 > 0:50:16- Is that your full-time job?- No. - What do you do? - I'm a farmer as well.
0:50:16 > 0:50:22- Do you rent yourself out as a man who can? - Well, something like that, yes.
0:50:22 > 0:50:27# It would sure do me good To do you good, let me help... #
0:50:27 > 0:50:33So with skills as both a farmer and property manager, Gordon seems able to roll up his sleeves
0:50:33 > 0:50:38and tackle most things. There was already a tenant lined up,
0:50:38 > 0:50:44so his task here was to get this ready in two months and on a budget of £5,000.
0:50:46 > 0:50:49Two and a half months later, we're back.
0:50:49 > 0:50:56# Oh, the weather outside is frightful
0:50:56 > 0:51:02# But the fire is so delightful
0:51:03 > 0:51:08# And since we've no place to go
0:51:10 > 0:51:15# Let it snow, let it snow Let it snow... #
0:51:15 > 0:51:21OK, so there's "snow" difference outside, but what about inside?
0:51:21 > 0:51:25The major work was the damp. We'd a big problem with the damp.
0:51:25 > 0:51:31That was the first thing we got onto, stripped all the walls off to 1.5 metres.
0:51:31 > 0:51:35Got everything out, cleared out, got the damp proofers in.
0:51:35 > 0:51:42With the damp sorted, it was really just a case of decorating the place throughout.
0:51:42 > 0:51:47# Walking round the room singing Stormy Weather... #
0:51:47 > 0:51:52I'm lad to see that lovely feature fireplace remains and the layout hasn't changed.
0:51:52 > 0:51:57# It's the same room But everything's different
0:51:57 > 0:52:01# You can find the sleep But not the dream
0:52:04 > 0:52:09# Things ain't cooking in my kitchen
0:52:09 > 0:52:13# Strange affliction washed over me... #
0:52:13 > 0:52:18The kitchen's been retiled and new work surfaces put on.
0:52:18 > 0:52:23There's now a larger, more practical sink, something the tenant requested.
0:52:23 > 0:52:29The landlady who owns the property, the tenant who is coming in is actually the mother of her friend.
0:52:29 > 0:52:35So she was asked what colour she wanted - white or magnolia!
0:52:35 > 0:52:40And that was again with the carpets. We had a budget as to what we'd spend on the carpets
0:52:40 > 0:52:43so we gave her the choice.
0:52:43 > 0:52:49So not the biggest choice of colours, but a choice nevertheless.
0:52:49 > 0:52:53At least the main bedroom leaves you feeling less blue.
0:52:53 > 0:52:58Both rooms do look smarter and fresher.
0:53:00 > 0:53:05Another thing that's the same, but different is that bathroom.
0:53:05 > 0:53:11There was already a clean white suite, but it's been freshened up and looks pretty smart.
0:53:11 > 0:53:16What does the prospective tenant think of her new home?
0:53:16 > 0:53:22She's been back a couple of times to see what's what and she's over the moon with it.
0:53:22 > 0:53:25It's gone very well. She's happy.
0:53:25 > 0:53:31Gordon not only oversees renovations, but also gets stuck in from time to time.
0:53:31 > 0:53:38He retiled the kitchen, changed the sink and moved the units to fit the soon-to-be-installed dishwasher.
0:53:38 > 0:53:42How does he combine his farm duties with his property role?
0:53:42 > 0:53:46# We're just country boys and girls... #
0:53:46 > 0:53:52Fortunately, my farm is on the way to here, so I call there, do what I have to do, then come here.
0:53:52 > 0:53:58The guys we've got doing the works are all very reliable people.
0:53:58 > 0:54:04We just let them get on and it goes well and it lets me do other things that I need to do.
0:54:04 > 0:54:08Let's be frank - this house wasn't ever going to be too taxing.
0:54:08 > 0:54:15It was in decent order to start, but the damp did take longer to sort out than planned,
0:54:15 > 0:54:21which has delayed the two-month timescale, but only by three weeks. What about the £5,000 budget?
0:54:22 > 0:54:27Including the carpets, we're going to finish about £4,800.
0:54:27 > 0:54:32A spend of just below £5,000 and a purchase price of £70,000
0:54:32 > 0:54:39takes the total outlay to around £75,000, not including taxes and expenses.
0:54:39 > 0:54:46So has this been a profitable property recommendation by Gordon? What do two estate agents reckon?
0:54:48 > 0:54:53I do like the property refurbishment. It's nice, bright, airy.
0:54:53 > 0:54:57Very clean and ready for someone to move into.
0:54:57 > 0:55:01I think the property has been decorated to a good standard.
0:55:01 > 0:55:06It has a lovely fireplace and the kitchen is ideal.
0:55:06 > 0:55:11There's already a tenant lined up, but if it was sold on the current resale market,
0:55:11 > 0:55:16would there by any potential return on a £75,000 investment?
0:55:16 > 0:55:22I would recommend putting this property on the market for £85,000-£95,000.
0:55:22 > 0:55:28My sale valuation for this property would be between £85,000 and £90,000.
0:55:28 > 0:55:33I'm happy with that. I expected it to be worth around £90,000.
0:55:33 > 0:55:38So a potential gross profit of £10,000-£20,000.
0:55:38 > 0:55:42Not bad. But how would it fare on the all-important rental market?
0:55:42 > 0:55:46I would put this property on the market
0:55:46 > 0:55:51for £475-£495 per calendar month.
0:55:51 > 0:55:56The rental valuation I would place on this property is £475 per calendar month
0:55:56 > 0:55:59to £495 per calendar month.
0:55:59 > 0:56:05I think that's round about what we're getting for the property, so that's good.
0:56:05 > 0:56:09Any valuations around the £475 per calendar month mark
0:56:09 > 0:56:16would generate a yield of around 7%. Will he and Tonya join forces for another project soon?
0:56:16 > 0:56:23And will Gordon be mucking about in property or mucking out at the farm next?
0:56:23 > 0:56:29I've got a busy time coming up. It's springtime. Hopefully my cows will be having some calves.
0:56:29 > 0:56:34That's a busy time for me. A few late nights, early starts, sometimes up all night,
0:56:34 > 0:56:40but that's what it's about. There's more money in property development than in farming,
0:56:40 > 0:56:43but I prefer farming!
0:56:45 > 0:56:49That's it. Did we inspire you or put you right off trying?
0:56:49 > 0:56:55- We'll have more stories for you next time on Homes Under The Hammer. - See you then.- Goodbye.
0:57:10 > 0:57:13Subtitles by Red Bee Media Ltd