Episode 26 Homes Under the Hammer


Episode 26

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Hello. Buying your first home is a life-defining moment.

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One that you will just treasure for ever.

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But whether it's your first property or your 50th,

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-it's always really exciting buying at auction.

-Oh, yes.

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There are plenty of heart-stopping moments

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when you buy your home under the hammer!

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Well, everyone knows that appearances can be deceptive

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and some auction properties prove to be a bit of a challenge!

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Yes, the house may look as if it needs a quick makeover.

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But actually, what is needed is drastic surgery!

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So do today's properties just need a bit of filler, or a full renovation?

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Let's find out!

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In Kent, this building plot hasn't dampened my enthusiasm.

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I can imagine a nice big, detached, family house sitting here.

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This mansion in Darlington makes me feel more "down" than "Downton"!

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But it isn't that sort of big,

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impressive entrance that you'd hope for.

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And this Derby semi was ticking boxes for me. Nice house, I thought.

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Well, it was all going so well. And then, I came into the bathroom.

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All these lots went to auction. We'll find out who bought them...

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Selling for the first time.

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..and what they paid when they went under the hammer.

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Sold.

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This is the village of Four Elms in Kent.

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15 minutes from the town of Sevenoaks,

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deep in the lovely Kentish countryside.

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And in my opinion, you'd be "quackers" not to take a look

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at what's on offer in this neck of the woods.

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Even in the rain!

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# All the ducks are swimming in the water

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# Fol de rol de rol

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# Fol de rol de rol! #

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This part of the world is very, very desirable indeed.

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Families are falling over themselves to buy a home here.

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But what if a characterful old farmhouse isn't your thing?

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Well, how about a plot to build something new?

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Because that is exactly what was on offer.

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It's a quarter of an acre site,

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right in the heart of the village, with planning for a four-bed house.

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And it had a guide price of 280 to 300,000. How exciting!

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It's unusual to get a building plot right in the heart

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of a community like this.

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In fact, there was a bungalow on this site

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until it was demolished a couple of years ago.

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And I tell you what, I'm glad I brought my wellies!

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Because this is going to be one muddy viewing!

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Now, I know this is a quarter of an acre site,

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but you know, it feels so much bigger! Wow! Loads of space here.

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You can see this is where the old house was. Loads of rubble.

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But it's quite interesting, I can imagine a nice big,

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detached family house sitting here very happily indeed.

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And the bit I love, the plans! There is an executive four-bedroom house.

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Now, these have been passed already. There's two floors.

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You've got the downstairs ground floor with the kitchen, dining room,

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a family space, a nice big hallway, a drawing room and bedroom four.

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Not sure about that.

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Apart from bedroom four,

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everything else looks really good on the ground floor.

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And then going upstairs,

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you've got a master bedroom with a lovely ensuite shower room.

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You've got another two bedrooms and a study and linen area.

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Now, straightaway, I would like to knock the study

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and the linen cupboard into one big room and call that bedroom four.

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I really think you needs to have your sleeping upstairs

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and your living accommodation downstairs.

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You wouldn't want to have to submit the plans again,

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because this is already a done deal.

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It's passed, you're going to buy these with the auction lot.

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so I think if you could tweak it,

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and just have four bedrooms upstairs, this would be a great house.

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Some potential buyers will not be keen on a downstairs bedroom

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and just regard it as a study or occasional bedroom at best.

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And you don't really want your substantial family home

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downgraded to a three-bed if you can help it.

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The downstairs bedroom is next to a shower room, which might be OK

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for families with teenagers or someone with mobility issues.

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But I think that on the whole, it does limit the market.

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So might well be worth exploring, as is the site itself.

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It's always worth doing a bit of digging around any auction purchase.

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And here, it is quite literally true.

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I found out the reason the bungalow that used to be on this site

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was demolished was because it had subsidence.

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It was underpinned and the problems came back,

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making it utterly unmortgageable.

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I'd like to bet that the ground around here played a big part,

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since it's mainly clay soil, which is prone to shrink and swell.

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One thing's for sure, whoever builds a new home here needs to be

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certain it doesn't go the same way as the old one.

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It's like Glastonbury at festival time on this ground!

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# Only one way to get there

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# You've got to get a little mud on the tyres! #

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But the word "subsidence" is not music to my ears.

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You definitely need to "pile" the work into new foundations,

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which could be expensive, but might well pay off.

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What does a local estate agent think?

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Four Elms is a very popular village, surrounded by open countryside.

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The green belt washes over the area completely

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and very few building plots such as this ever come to the market.

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Having seen the plans, my thoughts are, it would be probably a little

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bit nicer to have the fourth bedroom upstairs rather than downstairs.

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What level of finish should the new house be kitted out to?

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I think to a high specification to obtain the best possible price.

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It is a good plot, it's a good location.

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Therefore it deserves a good specification.

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That greenbelt factor is definitely worth bearing in mind.

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It will mean that there will be planning restrictions, so trying

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to change the plans to build an even bigger house or houses

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might well be a non-starter.

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So if a developer decided to go with the plans as they are,

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maybe with the odd bedroom tweaked, how much could the property be worth?

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The house when completed, depending on specifications and standard

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of construction, should be worth in the region of 625 to £650,000.

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You would have to spend a lot of money to create a high spec

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house here, say 200,000 build costs on top of the plot,

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even if it sold for around the guide price, of 280 to 300,000.

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So the figures stack up for resale, but what about rental?

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There is a good rental market for the property and I believe it would

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achieve a rent in the region of 2,000 to 2,500 per calendar month.

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A rare opportunity to build a house in an extremely desirable location.

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It's not a cheap plot,

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but it could reap decent rewards or make a lovely home for someone.

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Let's see who went for it at the auction.

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Lot number 17 now is, wow, this is a really lovely plot,

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this, over by Edenbridge.

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Planning permission for a four-bedroom detached house

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with a site of a quarter of an acre.

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Start me at £280,000.

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260 to get me running. I'm on the way at 260. I'm obliged.

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260, I'm on the way. At 260.

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And five. 265. 265. And 70. 270.

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270. And five. 275. 275.

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And 80 if you like. 280.

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280, right in front of me in a fresh place. 280.

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And 85. 285 to either of you, if you like.

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285,000. At 285 if you like.

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280 I've got sitting in the front row.

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We're going to sell it for the first time at £280,000.

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A chance to bid again if you want it. Second time at £280,000.

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Third and final time. If you're sure. You're all done at £280,000.

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It's yours, sir, at 280. Excellent plot.

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That final successful bid of 280,000 was made by Andy.

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He's a local developer and I met him

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back at the muddy site to find out why he wanted it.

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-Andy, lovely to meet you.

-You too.

-Congratulations.

-Thank you.

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I want to know all about what's going to go on here

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and why you wanted this plot.

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Well, we're looking at putting a four-bedroom house on here,

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as it's got planning in the auctions for this.

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We're going to do a couple of alterations to it.

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We're changing the garage to an oak garage now.

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And we're going to put in a swimming pool as well now, in the garden.

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Wow!

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We've had some tests done for piling now,

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so we have to pile because of the water level around here.

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So we've had companies come in, do all the setting outs,

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and we're ready to roll in the next hopefully two weeks.

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When the ground is unstable and can't bear the weight of a structure,

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prefabricated piles made of concrete or steel can be

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driven into the soil using a pile driver.

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# Pile driver... #

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Often the piles are embedded into a concrete block to help

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distribute the load, which should result in a stable foundation.

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So, tell me about your experience of building houses.

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I've been building for 30 years now. Mainly extensions, loft conversions.

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And about 20 years ago we decided to build our own house

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and carry on building. So we try to do at least one to two a year now.

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Andy is what you'd call a seasoned developer.

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And it needs someone with experience to wade through this clay soil

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here and not find themselves, well, stuck in the mud!

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Can we talk about the soil, first and foremost?

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And why you're doing the piling?

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Well, the background to the site show that there was some

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kind of maybe lake or pond on here. So we had to have a soil test done.

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Which does show it is clay and part peat as well, which is

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very soft for a normal foundation.

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So that is why we've had to go for piling.

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Is that something you factored into the costs here?

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Yes. When we bought the plots,

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we knew that we would probably have to pile, before we went to auction.

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I had some quotes done, so we knew that it was going to be

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a good £20,000 over from what we'd normally build.

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And that, ladies and gentlemen, is how it's done.

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Andy did his homework, so didn't get any nasty surprises.

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It's definitely an advantage, being local.

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He knows the ground conditions and the market,

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including what goes down swimmingly with buyers!

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The thing that bothers me

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is the fact that there are three bedrooms upstairs and one downstairs.

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What are you going to do to change that layout?

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Well, we're going to take the study upstairs out and there's quite a big

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cupboard upstairs, out, which would give a good size fourth bedroom.

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I was really hoping you were going to say that

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because when I was looking at it, I was really trying to

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rack my brains to think, is there enough room to call that bedroom four?

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-Yeah, definitely.

-A swimming pool, whose idea is that?!

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I mean, you really are taking it up to the next level.

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Yes, it was a friend of mine who came up with the idea.

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He's just built a couple of swimming pools now, so he came

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down to the site yesterday and we decided we're going to have one.

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How much do you think it's going to cost you?

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I mean, what is your budget for a build such as this?

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The build on this will be 200,000.

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How much is it going to be worth at the end of the day?

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It's been valued between 650 and 700.

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So hopefully with the pool, it will keep it up near the 700 mark.

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So you are looking at walking away with quite a healthy profit there.

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Yeah, yeah.

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It all sounds very glamorous and lucrative.

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If Andy sticks to his budget, he could possibly be

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looking at a gross profit of over 200,000 on this build.

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He plans to get it done in seven months.

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It all seems remarkably straightforward, so far.

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And are you going to be here on-site, watching the boys,

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-making sure everything runs smoothly?

-I'm actually on the tools.

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My trade is plastering.

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So I will be on the tools, doing quite a bit of the work myself,

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-with the chaps as well.

-I am so excited to see what it looks like.

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-Thank you for coming along today. Sorry about the weather!

-No trouble!

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Good luck with it. Thank you.

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Andy knows what he's about and I'm sure he'll build

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a smasher of a home here.

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I love the swimming pool plan and I reckon there's a profit in it.

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Provided that clay soil doesn't drain his budget!

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You can find out how it goes later in the show.

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I'm in County Durham in the market town of Darlington.

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The town has many impressive landmarks, like this clock tower,

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a legacy of the Pease family who were wealthy Victorian industrialists.

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Intriguingly, the property that went to auction just half a mile away

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from the town centre has a connection.

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Well, this area of Darlington is called the West End.

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And it's extremely popular and desirable.

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Now, the property I'm here to see

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was described in the auction catalogue as substantial.

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That's a good start. And you know what?

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From the outside, it's living up to that description. Five bedrooms.

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The guide price was 399,950 quid.

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This Victorian house was once owned by the Pease family,

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who built the clock tower as well as the town hall

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and the covered market in Darlington.

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Since those heady days of grandeur,

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the property has been divided into two.

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At one time, this must have been an amazing mansion.

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But before you get the carriage and footman ready, please note,

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we'll be using the tradesman's entrance, round the back!

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Well, approaching the property, the entry is a little bit confusing.

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That's probably because this was,

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along with the adjoining property, originally one big house.

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So you've actually only got half of it, if you like.

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You have got the garages. There's four of those.

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That's certainly enough.

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And you come round into this little courtyard area.

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A little bit more of rear garden or front garden,

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whichever you want to call it!

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And then what would be your entrance to the house.

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But out here, before you even go in, you can see, lovely though it is,

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a bit of remedial work required to that brickwork at the top.

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Let's take a look inside.

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Slightly disappointing when you come in through the door there.

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But I suppose this was the rear entrance,

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so you wouldn't expect anything too grand.

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Nice that you've got the tiled floor.

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But it isn't that sort of big, impressive entrance that you'd hope for.

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Similarly, a big sweeping staircase? Well no, there isn't one.

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This is the staircase in the property.

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I guess in the property as a whole, it was the second staircase.

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So it's not that grand.

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And it's almost like there is a dividing line here,

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almost like that was the servants' area at one point.

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There's a couple of small rooms.

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The moment you step into this area of the house,

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you suddenly get that feeling of grandeur.

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Over that side, a really nice-sized rear sitting room,

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front sitting room,

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it depends which way round the house you're going to call it!

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But a good size, with the big windows.

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Over this side, a dining area, separate from the kitchen.

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It looks to be in pretty good condition.

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And then again, the further you walk this way into the house,

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the better it becomes.

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Coming to here, and you've got this absolutely gorgeous living room area.

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Huge great windows. Nice fireplace. Stripped floor.

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Lots of original features like the coving and stuff like that.

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This, this is what I was hoping the house would be like all throughout.

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But at least you've got this room. And that one. With the kitchen.

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Let's carry on.

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# Nothing but a grand illusion... #

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I'm rather disappointed that it's not all grand rooms here.

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In fact, it's a bit of an illusion.

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At the other end of the corridor,

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if I turned left instead of coming up this way, smaller rooms

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we didn't see when I first came in include a study

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and this utility room.

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As well as a downstairs bathroom. This place is vast!

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So, what does the upstairs have to offer?

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Well, a smallish kind of landing area here.

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And then down that way, I don't want to go there yet, we'll go this way.

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Because a very interesting room here, bathroom there,

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bit of a storage cupboard.

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Half-decent-sized bedroom here with a double aspect, which is nice.

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But it's linked by this door into this bedroom.

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So this, to me, is the side of the house you want to be on because

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you've got these fantastic windows again, overlooking the garden.

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Lots of light flooding in. Really nice-sized room.

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But in terms of the layout, it just needs a little bit of tweaking.

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Down the other end of the landing, there's another very large bedroom.

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Then the rooms become a little smaller.

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There are two more bedrooms, one double and one single.

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So that's five bedrooms in total. And the main bathroom.

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Like most of the other rooms, the fixtures are pretty good.

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So you could get away with just adding your own decorative style.

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However, the biggest tweak needs to be downstairs

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in that kitchen/dining area.

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Ideally, you'd have one big open-plan area.

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But obviously, you've got this chimney breast in the middle

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and that is one heck of a job to take that out.

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So I guess that's going to have to stay.

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It would be nice to have something a bit more substantial,

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But as it is, it's in really nice condition.

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I mean, the whole house, you could pretty much move into as it is.

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I mean, look at this.

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You've got granite work surfaces, fairly new units.

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With a house like this, though, of this kind of age, it's going

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to be the stuff that you can't see that you really want to check out.

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What condition is the roof in, what is the damp-proofing,

0:18:370:18:40

if there is any, like?

0:18:400:18:41

You know, the exterior pointing and stuff like that.

0:18:410:18:44

That is the stuff that isn't particularly nice to do,

0:18:440:18:47

because it just costs a lot of money.

0:18:470:18:48

But it's stuff that you're going to have to address.

0:18:480:18:52

So, what does a local estate agent think of this large, five-bedroom

0:18:520:18:56

property that went to auction guided at just £50 shy of £400,000?

0:18:560:19:03

Would it be worth spending a lot of money here?

0:19:030:19:05

It's a lovely property. I just think it needs some modernisation.

0:19:070:19:11

I think the rooms need reconfiguring to a more modern family style of living.

0:19:110:19:16

But because it's semi-detached, I think that is going to

0:19:160:19:18

limit the end value. So although it needs some good investment,

0:19:180:19:22

there should be a limit on how much is spent.

0:19:220:19:24

What about the rental prospects for this grand property?

0:19:240:19:28

Once refurbished, the property will rent for approximately £1,300 per calendar month.

0:19:290:19:35

And the resale value after some cosmetic changes?

0:19:350:19:38

Once refurbished,

0:19:380:19:40

I would expect to sell the property for between 470 and £500,000.

0:19:400:19:45

Well, a bit of an interesting one, this one.

0:19:450:19:47

Because it could go two ways.

0:19:470:19:49

Either you could move in here and live in it pretty much as it is.

0:19:490:19:53

And it would be a lovely home, just like that.

0:19:530:19:56

Or, once you embark on some kind of renovation, it's going to cost

0:19:560:19:59

you a lot of money, but you could turn it into the most amazing house.

0:19:590:20:03

It's all going to be down to the decision of whoever bought it.

0:20:030:20:07

Let's find out who that was when it went under the hammer.

0:20:070:20:10

So we're going to move along now to property, lot number 43.

0:20:100:20:14

Fantastic looking house, this. Substantial Victorian residence.

0:20:140:20:18

Can I ask for 400 to start?

0:20:180:20:21

Do I have 390,000? Thank you. 395. Yeah?

0:20:210:20:25

400,000? 400 bid.

0:20:250:20:28

405. 410. 415? 415.

0:20:280:20:33

420. I'll halve it to 417,500.

0:20:330:20:37

417,500 bid. I'll halve to you as well at 420.

0:20:370:20:41

420 bid. 422 and a half. No?

0:20:410:20:45

I'm selling once at 420,000. It really is your last chance.

0:20:450:20:48

I'm selling for the second time at £420,000.

0:20:480:20:54

Sold to the gentleman and the lady on the right-hand side.

0:20:540:20:56

That final bid of 420,000,

0:20:560:20:59

to seal the deal on this huge Darlington property

0:20:590:21:01

was made by Andy, who was at the auction with his wife, Andrea.

0:21:010:21:05

# That it feels like home

0:21:050:21:08

# And it knocks me out

0:21:080:21:11

# Just to feel this way

0:21:110:21:14

# You know, I broke out... #

0:21:140:21:17

The couple live in the town. Andy runs his own civil engineering and groundworks business.

0:21:170:21:23

Andrea has been a midwife for the past seven years.

0:21:230:21:26

I met up with them both back at the new purchase,

0:21:260:21:29

to hear about what they plan to deliver at this property.

0:21:290:21:32

-Andy, Andrea, lovely to meet you both.

-And you.

0:21:320:21:34

Tell me why you wanted to buy this lovely house?

0:21:340:21:37

Well, I think we'd made the decision that we wanted to move

0:21:370:21:40

back into the centre of town, really.

0:21:400:21:43

We live out in the countryside at the moment.

0:21:430:21:46

But we've decided we don't particularly enjoy country life.

0:21:460:21:49

-Oh, right!

-We're missing things about the town, which I know is backwards for most people.

0:21:490:21:54

But, um, we miss being able to walk into the town on an evening,

0:21:540:21:57

and walk the kids to school.

0:21:570:21:59

This house is going to be a new family home for Andy, Andrea

0:21:590:22:03

and their children, Jamie and Fiona.

0:22:030:22:06

But the move isn't going to be completely straightforward.

0:22:060:22:09

What's happening with the house you're living in at the moment?

0:22:090:22:12

-It on the market. We're hoping to sell.

-You haven't sold it yet?

-We haven't sold it yet, no.

0:22:120:22:16

We're in that nail-biting stage, really, of owning two large houses.

0:22:160:22:20

Ooh! So how have you managed to finance this?

0:22:200:22:23

Well, we've mortgaged some of it. And we've used all of our savings,

0:22:230:22:26

just about, to pay for it. We kept a little bit back

0:22:260:22:29

to get some of the work done ourselves.

0:22:290:22:31

But then, until we can sell ours, we won't complete the work.

0:22:310:22:35

# Cash or credit, it doesn't matter

0:22:350:22:39

# As long as my bank books

0:22:390:22:41

# Keep growing fatter

0:22:410:22:43

# Easy Street is my favourite avenue

0:22:430:22:47

# Who needs money? I do. #

0:22:470:22:50

Andy and Andrea are definitely going to need cash.

0:22:500:22:54

That's because there's a lot of that boring but necessary maintenance stuff I mentioned earlier.

0:22:540:22:59

And also, some not so boring stuff.

0:22:590:23:02

Quite a few of the bricks have actually deteriorated to the fact

0:23:020:23:04

where I need to replace the bricks.

0:23:040:23:06

So I've got a lot of bricks to take out and fully repoint the whole house.

0:23:060:23:10

Wow! That's a job and a half in itself.

0:23:100:23:13

It is for somebody, yeah! I must admit I don't fancy that one.

0:23:130:23:15

And then it's got a double hip roof, so there's a lot of work to do on the roof.

0:23:150:23:19

There's a lot of damage to that that needs replacing.

0:23:190:23:22

Convert the garages, lose two of the garages.

0:23:220:23:24

Our final project would be an orangery out the back,

0:23:240:23:28

-if you want to call it the back or the front.

-Wow!

0:23:280:23:30

And then internals, I'll leave to Andrea.

0:23:300:23:32

Internals, the biggest piece of work we're doing is taking out

0:23:320:23:35

the chimney breast that's between the breakfast room

0:23:350:23:38

and the kitchen, and then going up stairs,

0:23:380:23:40

the same chimney breast between the two smallest bedrooms.

0:23:400:23:43

So we'll create a really big sort of kitchen dayroom downstairs.

0:23:430:23:48

Do you have any idea how much rubble that is going to create?

0:23:480:23:51

-Oh, yes!

-Oh, it'll be all right.

-It's best that we're actually not living in here

0:23:510:23:55

why we're doing it, because that is really dirty.

0:23:550:23:57

Yeah. We're going to use some of the corridor space behind the kitchen

0:23:570:24:00

to create a utility room. And then the existing utility room,

0:24:000:24:04

we're going to convert into a sauna and a wet room.

0:24:040:24:06

And then upstairs, create a sort of a really big master suite with dressing room and ensuite,

0:24:060:24:12

from the rooms where we've taken the chimney breast out.

0:24:120:24:15

Not just that, they'll also be replacing the windows.

0:24:150:24:18

All 25 of them. So this is going to be a major job.

0:24:180:24:22

But then Andy does run a civil engineering and groundworks company.

0:24:220:24:26

The general building work, the demolition, I would do it myself.

0:24:260:24:29

All of the first fixed works, I'll do myself.

0:24:290:24:31

But I will utilise plumbers and electricians.

0:24:310:24:34

What's the budget for this little adventure?

0:24:340:24:37

70,000, we hope we will do it all bar the orangery.

0:24:370:24:40

What kind of timescale is there for sorting it?

0:24:400:24:43

-Five to six months.

-OK.

-I think it all depends on selling ours.

0:24:430:24:46

-If ours sells, five to six months.

-Well listen, congratulations.

0:24:460:24:50

I'm very excited to see how you get on sorting it out.

0:24:500:24:52

-So, good luck with it.

-Thank you.

-Thank you very much.

0:24:520:24:56

Well, Andy and Andrea are clearly delighted with what will become their new family home.

0:24:560:25:02

But the amount of work they're taking on, gosh, it frightens even me.

0:25:020:25:06

I mean, just to take out this wall here in the kitchen/dining area,

0:25:060:25:12

what a job that's going to be.

0:25:120:25:14

Well, you can find out how many skips they end up using

0:25:140:25:18

later in the show.

0:25:180:25:20

Coming up, there's plenty on offer in this Derby property

0:25:220:25:25

both inside and out.

0:25:250:25:28

What a fantastic additional bonus to have.

0:25:280:25:31

We return to Darlington, where time's taken its toll.

0:25:310:25:36

It's a very old house with years of neglect.

0:25:360:25:39

We just have to put all of those things right.

0:25:390:25:42

But first it is back to Kent, where Andy's had a hard time.

0:25:420:25:47

About 180 tonnes of cross concrete in the garden, to raise the garden.

0:25:470:25:51

Earlier in the programme, we were in the Kent village of Four Elms,

0:25:540:25:58

seven miles from Sevenoaks.

0:25:580:26:01

And the numbers certainly seem to be stacking up for this plot,

0:26:070:26:10

with planning permission for a four-bedroom house.

0:26:100:26:13

Local developer Andy bought it for 280,000.

0:26:130:26:17

He and I agreed that the only flaws in the plans

0:26:170:26:20

were the fourth bedroom being on the ground floor,

0:26:200:26:23

and the small matter of the site having a history of subsidence.

0:26:230:26:26

However, none of this worried him unduly.

0:26:260:26:29

We've had some tests done for piling now.

0:26:290:26:32

So we have to pile because of the water level round here.

0:26:320:26:35

And we're ready to roll in the next, hopefully, two weeks.

0:26:350:26:38

Is that something you've factored into the cost?

0:26:380:26:40

Yes, when we bought the plot we knew that we'd probably have to pile.

0:26:400:26:45

Andy was also really plunging in, with plans for a swimming pool

0:26:450:26:50

and an oak garage, all to be done in seven months,

0:26:500:26:53

on a budget of 200,000.

0:26:530:26:56

Seven months and three weeks later, I'm back.

0:26:590:27:02

And Andy's five-star, four-bed executive house is built,

0:27:070:27:12

along with this oak garage, as Andy had promised.

0:27:120:27:15

At the back of the house, Andy, his partner Ali and new puppy Leo,

0:27:180:27:22

have moved in, and can enjoy this sun terrace,

0:27:220:27:25

which spans the whole width of the house.

0:27:250:27:28

Inside, the light floods into this timber-floored open-plan living space.

0:27:290:27:34

And I really love this large open kitchen

0:27:370:27:41

that stretches from the front of the property to the back.

0:27:410:27:45

This is the dining area and the kitchen area, open-planned.

0:27:450:27:49

This is where we've taken out the wall from the existing drawings

0:27:490:27:53

and made it more into an open-planned area.

0:27:530:27:55

And then this is the lounge, which we created with the bi-folding doors opening up into the garden.

0:27:550:28:02

Off the hall is a cloakroom and two further rooms at the front.

0:28:020:28:06

The interior design has all been down to Ali.

0:28:060:28:11

The original plans had the fourth bedroom on the ground floor.

0:28:110:28:15

That didn't work for me. Andy and Ali thought exactly the same.

0:28:150:28:19

So the cupboard and study area have gone.

0:28:190:28:23

And... Ta-da! Four upstairs bedrooms now!

0:28:230:28:28

They've gone for a very high-end look throughout.

0:28:310:28:34

Moving that bedroom upstairs has really worked well.

0:28:360:28:40

Yeah, I think that was really good because we created a fourth bedroom,

0:28:400:28:43

which was a really good size. And we also put an en suite on the master bedroom.

0:28:430:28:48

We put wardrobes all down one wall, so there's lots of storage.

0:28:480:28:52

Andy didn't have to resubmit the plans for the changes he's made.

0:28:520:28:55

That meant there were no delays. So building this lovely house

0:28:550:28:59

in just over seven months is pretty good going.

0:28:590:29:02

However, sadly, there's no lounging by the pool with cocktails here, after all.

0:29:020:29:07

The garden does look lovely.

0:29:070:29:09

But what happened to those swimming pool plans?

0:29:090:29:12

Well, we found out it was a very high water level.

0:29:120:29:15

This is why we had to pile it. We probably had about 180 tonnes of cross concrete in the garden,

0:29:150:29:20

to raise the garden because of the water levels.

0:29:200:29:23

So I think having a swimming pool would have caused a lot of problems

0:29:230:29:26

with the high water levels.

0:29:260:29:28

Andy's heating the house from an external heat source pump,

0:29:280:29:31

powered by the solar panels.

0:29:310:29:33

So I wonder, has the budget ended up in hot water?

0:29:330:29:37

We stuck to the budget on the 200,000.

0:29:370:29:41

But I'd allowed for solar panels.

0:29:410:29:44

But I decided to go for an air source heat pump.

0:29:440:29:47

So, in total, that probably put the budget up about another 15-20,000.

0:29:470:29:52

Added to the 280,000 Andy paid at auction,

0:29:520:29:56

that takes his total investment here to 500,000.

0:29:560:30:00

Andy and Ali moved in about a month ago.

0:30:000:30:02

And Andy's son is going to join them soon as well.

0:30:020:30:05

So, Ali, after a few weeks here,

0:30:050:30:08

what's been the most enjoyable aspect of your new home?

0:30:080:30:11

I think this open plan living area.

0:30:110:30:14

This is what I absolutely love, being able to cook and chat.

0:30:140:30:18

Really great. And it's all overlooking the garden as well.

0:30:180:30:22

Puppy Leo, who's a cockapoo, seems to be cock-a-hoop with the garden.

0:30:220:30:28

The couple plan to live in the house for at least nine months

0:30:280:30:31

and then maybe sell.

0:30:310:30:33

We invited two local estate agents to take a look at the property

0:30:330:30:38

and give their current valuations,

0:30:380:30:40

to see if Andy's hard work has paid off.

0:30:400:30:43

First impressions of the property when you approach,

0:30:430:30:45

is that it has a good kerb appeal.

0:30:450:30:48

It looks attractive from the outside. It seems to have been done very well.

0:30:480:30:51

It fits in nicely with the surrounding properties,

0:30:510:30:54

and keeps the main fabric of the village going.

0:30:540:30:57

The living space here at the property is very versatile.

0:30:570:31:00

You've got good sized rooms, tall ceilings and it's very bright.

0:31:000:31:04

The bedrooms are all good doubles, with an ensuite,

0:31:040:31:07

which is to a high standard and specification.

0:31:070:31:10

It's clean, it's tidy, it's bright, its contemporary.

0:31:100:31:14

And that's what people are looking for.

0:31:140:31:16

The estate agents estimate it could generate a rental income

0:31:160:31:19

of between 3,000 and 3,250 per calendar month.

0:31:190:31:23

That's a yield of 7%. So, does that tempt them?

0:31:230:31:27

No!

0:31:270:31:30

No, I'm happy actually living in here until early next year,

0:31:300:31:35

until we decide on another project.

0:31:350:31:38

I don't think I could tear myself away from this place if it was mine.

0:31:380:31:42

However, profit is profit.

0:31:420:31:45

And I expect that would be Andy's motivation for moving on.

0:31:450:31:48

Has his £500,000 investment made the most of this unpromising plot?

0:31:480:31:54

If the property came to the market it would achieve

0:31:540:31:57

something between £775,000 and £800,000.

0:31:570:32:01

This is up to 150,000 more than he valued it when he first saw the plot.

0:32:010:32:06

It's always tricky valuing off plan.

0:32:060:32:08

And he now feels that, as the spec's so good,

0:32:080:32:11

and it now sports four proper bedrooms, that boosts the value.

0:32:110:32:15

What did the other estate agent think?

0:32:150:32:17

I'd look to put the property on the market with a guide price

0:32:170:32:20

of between 785,000 and 800,000.

0:32:200:32:23

And I would look to achieve somewhere in the region.

0:32:230:32:26

A profit of 275 to 300,000, before tax and expenses.

0:32:260:32:32

-Great prices.

-Wow!

-I valued it between seven and 750.

0:32:320:32:36

Definitely a nice profit in 19 weeks.

0:32:360:32:40

-That's all it took to build.

-And it's a lovely place to live.

-Yeah.

-For a little while.

0:32:400:32:44

With Andy's building expertise and Ali's interior design skills,

0:32:440:32:48

they've created an impressive new home here.

0:32:480:32:51

They seem a great development double act.

0:32:510:32:53

Andy's done it really well. And he's done it really quickly as well.

0:32:530:32:58

So yeah, I think we've worked, Ali doing her interior design,

0:32:580:33:01

she's put some good colours and furniture together.

0:33:010:33:06

Well done. Worth celebrating. Cheers!

0:33:060:33:09

I'm in Alveston, only three miles south-east of Derby city centre.

0:33:140:33:20

Once a village, it became part of Derby in the late 1900s.

0:33:200:33:23

# So I got me a little home

0:33:250:33:27

# On the outskirts of town. #

0:33:270:33:30

Well, I'm here in Alveston to see the kind of property

0:33:300:33:34

that's synonymous with the suburbs. A three-bedroom semi-detached.

0:33:340:33:38

In this case it's got a drive, it's got a garage,

0:33:380:33:41

it looks pretty good from the outside.

0:33:410:33:44

It had a guide price of 88,000 quid. Let's take a look inside.

0:33:440:33:48

I'm pleased to see the outside has what looks like

0:33:480:33:51

new double glazing, which is promising.

0:33:510:33:54

In through the front door, stairs up to your bedrooms.

0:33:540:33:58

One thing which I don't particularly like is that, a glass panel.

0:33:580:34:01

I think throwing light into the kitchen, but for some reason, that jars with me a little bit.

0:34:010:34:06

However, what I do like is this room here. You've got dual aspect.

0:34:060:34:10

It is a big, knocked-through living area. Open fire, which is good.

0:34:100:34:15

And it's a really nice space. It works for me.

0:34:150:34:18

It feels - well, it makes the house feel a really nice size.

0:34:180:34:22

Erm, but again, good and bad. What doesn't work is this.

0:34:220:34:25

The kitchen. As you can see, it's really not suitable for this house.

0:34:250:34:28

However, the solution, I think, is very simple.

0:34:280:34:32

This wall here, knock that through to create a really nice room.

0:34:320:34:35

Maybe a breakfast bar. Suddenly this is turning into a fantastic family home.

0:34:350:34:39

I might have radical thoughts about the downstairs layout,

0:34:390:34:43

but upstairs it's all pretty standard.

0:34:430:34:45

And there's nothing wrong with that. Three bedrooms,

0:34:450:34:48

including a good-sized double at the front with a charming bay window.

0:34:480:34:52

Next door, there's a single bedroom.

0:34:520:34:55

And at the back, a double bedroom where it might be worth considering

0:34:550:34:59

taking the chimney breast out to create even more space.

0:34:590:35:02

But of course that costs money.

0:35:020:35:04

Whether you do or not might depend on

0:35:040:35:06

whether it was bought for anything like that £88,000-plus guide price.

0:35:060:35:11

What I wouldn't scrimp on is checking the rather

0:35:110:35:14

suspect-looking electrics, and the central heating.

0:35:140:35:18

You don't want any surprise problems.

0:35:180:35:20

It was all going so well, and then I came into the bathroom here

0:35:210:35:26

and unfortunately, I think we've got some real problems.

0:35:260:35:30

Initially you notice this crack above the bath -

0:35:300:35:34

that in itself isn't too bad,

0:35:340:35:36

but then you start looking a bit further.

0:35:360:35:38

The window frame here is kind of skew-whiff.

0:35:380:35:40

Same for that door frame, another crack there in that wall.

0:35:400:35:43

It seems to me like this corner of the whole property

0:35:430:35:47

is actually sinking, I think we've got subsidence.

0:35:470:35:50

It could be problems with the drains downstairs and outside - whatever,

0:35:500:35:54

this is potentially a very serious issue, and you need to get this

0:35:540:35:58

checked out before you go anywhere near the property.

0:35:580:36:01

# Crackin' up

0:36:010:36:03

# I'm gettin' ready to go, had enough

0:36:030:36:06

# I can't take any more... #

0:36:060:36:08

It could of course just be historic settlement,

0:36:080:36:11

with nothing moving now -

0:36:110:36:13

indeed, there are no signs of any cracks on the exterior walls,

0:36:130:36:17

although there's obviously been some repointing

0:36:170:36:19

of the brickwork at some point in the past.

0:36:190:36:22

But to be really certain whether it's subsidence or not

0:36:220:36:24

it's always best to get a professional survey done.

0:36:240:36:27

At the rear of the property, nice to see double doors out onto the garden,

0:36:270:36:31

and there's a potential for doing some kind of extension which is good,

0:36:310:36:35

but a real surprise is this - have a look!

0:36:350:36:37

It's a garden, and it goes on and on.

0:36:370:36:40

You've got some nice apple trees and things like that,

0:36:400:36:43

cos all the way down here, fantastic little allotment,

0:36:430:36:46

a place to grow your vegetables,

0:36:460:36:49

and look at this! All the way to here.

0:36:490:36:53

What a fantastic additional bonus to have.

0:36:530:36:57

# Did you know your garden's overgrown?

0:36:570:37:02

# And what is shown?

0:37:020:37:04

There's some fairly backbreaking work to clear this out,

0:37:040:37:08

but this could be just what a keen gardener's been looking for.

0:37:080:37:11

There's even a garage to store the tools.

0:37:110:37:15

To find out a bit more about the potential we invited the auctioneer who sold the semi

0:37:150:37:19

to come and have a look around and tell us what he'd recommend doing here.

0:37:190:37:24

I think it's a general makeover for the whole house -

0:37:240:37:27

the fixtures and fittings are fairly old, the decor is fairly old.

0:37:270:37:30

It all just needs bringing into the 21st century.

0:37:300:37:33

How much could the house sell for after refurbishment?

0:37:350:37:39

Whatever you do to this property, without structural extensions

0:37:390:37:43

you're not going to raise its value beyond about £125,000 to £130,000.

0:37:430:37:48

What effect would adding an extension have?

0:37:480:37:51

If you extended but it was still three bedrooms,

0:37:510:37:54

and I imagine it would be because you'd only do a single-storey extension on the back,

0:37:540:37:58

you could probably add about another £10,000 to £15,000 to that.

0:37:580:38:02

That wouldn't be cost-effective.

0:38:020:38:04

In that case, sticking with the current layout,

0:38:040:38:08

what rental income could it produce?

0:38:080:38:09

If this was on the rental market,

0:38:110:38:13

once renovated it would have a rental value of about £575 a calendar month.

0:38:130:38:18

So, a fairly straightforward semi here -

0:38:180:38:22

it needs a bit of work to sort it out, especially that

0:38:220:38:25

crack in the bathroom which certainly needs investigating.

0:38:250:38:28

But basically, who fancied resuscitating this semi in Alveston?

0:38:280:38:33

Let's find out, when it went to auction.

0:38:330:38:36

Lot 50, and a traditional 1930s bay windowed three-bedroom semi.

0:38:360:38:42

Requires some upgrading and modernisation.

0:38:420:38:45

Start me on this one, ladies and gentlemen, what will I say for it?

0:38:450:38:48

88 is bid, thank you.

0:38:480:38:50

89? 89, I've got.

0:38:500:38:53

89,000. At 90?

0:38:530:38:55

£90,000. 91?

0:38:550:38:57

91 is bid.

0:38:570:38:59

At 91. 92?

0:38:590:39:01

92,000. 93?

0:39:010:39:04

At 93. 94?

0:39:040:39:06

94 is the bid. 95, one more?

0:39:060:39:10

£94,000. 95, quickly.

0:39:100:39:13

That's just short of reserve, so I can't do it at 94.

0:39:130:39:17

Unfortunately the property didn't reach its reserve price during the auction.

0:39:170:39:21

However, it was bought immediately after the auction

0:39:210:39:24

for £95,500 by John, here on the right.

0:39:240:39:28

We didn't see him bidding because, as he'd lost out on his first property choice earlier in the day,

0:39:280:39:33

he nipped out for a break so missed this one going under the hammer.

0:39:330:39:37

I met up with him and his friend James to find out more.

0:39:370:39:41

John, James. Great to meet you both.

0:39:410:39:43

What happened there, then? Cos it didn't sell.

0:39:430:39:45

Well, basically we've gone in to get the first lot,

0:39:450:39:48

and the first lot went for a lot more than what we'd budgeted for

0:39:480:39:52

so we've gone for the 50th lot, so obviously there's a big gap.

0:39:520:39:55

So we nipped out to grab something to eat,

0:39:550:39:57

and by the time we got back it was on the 50th lot, and it didn't sell.

0:39:570:40:02

The reserve was at 97,

0:40:020:40:04

so then we went in, put in an offer for 95 and a half, and it was accepted.

0:40:040:40:09

John was at the auction with his grandad, who's also called John.

0:40:090:40:13

His grandad's a property developer from London.

0:40:130:40:16

So tell me why you wanted to buy the house.

0:40:160:40:19

Well, basically I'm looking for a project to do during the winter.

0:40:190:40:22

I normally work a lot during the summer, and then the winter is

0:40:220:40:27

-when it quietens down a little bit.

-So what do you do?

0:40:270:40:30

I'm a football freestyler. So I do shows with a ball, body doubling,

0:40:300:40:34

events, corporate parties... So I basically do tricks with a football.

0:40:340:40:39

-Where did that come from, then?

-I used to play football, and then I stopped playing when I was 16,

0:40:390:40:44

entered a competition with freestyle.

0:40:440:40:46

Won a competition, and then in 2008 I won the UK Championships for football freestyle.

0:40:460:40:51

And to show us what he means,

0:40:510:40:53

I couldn't resist getting John to give us a quick demo.

0:40:530:40:56

# It's tricky!

0:40:580:41:01

# It's tricky, tricky, tricky, tricky...

0:41:010:41:04

Impressive stuff, and John's hoping to score with this property as well.

0:41:040:41:08

It's his second development project.

0:41:110:41:13

First time around he had the help and guidance of his grandad,

0:41:130:41:17

but on this project, Grandad won't be so involved.

0:41:170:41:20

John's mate James will be lending a hand.

0:41:200:41:24

So James, what's your involvement in all this going to be?

0:41:240:41:27

Basically I'm just going to help John out in what needs doing.

0:41:270:41:30

-And what's your sort of speciality?

-Electrics, mainly.

0:41:300:41:33

I was supposed to be at college full-time,

0:41:330:41:35

but the funding got removed for the course.

0:41:350:41:37

So now I've got some more spare time I'll be helping a friend out.

0:41:370:41:42

I've been doing labouring and building work for about four years. So it works out well.

0:41:420:41:46

And is he going to pay you?

0:41:460:41:47

-No, no, I'll do it as a friend.

-We'll sort him out.

0:41:470:41:51

It's not just James who'll be here to help.

0:41:540:41:56

John's dad is a joiner, and James's dad is a qualified electrician.

0:41:560:42:01

So, if John's grandad turns up as well there'll be enough of them for a game of five-a-side footy.

0:42:010:42:06

But John's got an arrangement with his developer grandad

0:42:060:42:09

that means he doesn't have to invest a footballer's salary.

0:42:090:42:14

I basically put in as much money as I can to get in the house

0:42:140:42:16

and he puts the rest, and then I pay for the materials, the labour,

0:42:160:42:21

and whatever else needs to be paid for.

0:42:210:42:23

He's going to stay at home - he's from London -

0:42:230:42:26

so he'll be doing his own property whilst we're doing this one.

0:42:260:42:30

-So, tell me what you're going to do to sort this place out.

-There's a few things really.

0:42:300:42:34

Up in the bathroom there's a nice crack in the wall,

0:42:340:42:36

we need to strip that back, see what's going on behind there.

0:42:360:42:40

This wall'll be coming out.

0:42:400:42:43

The kitchen needs doing, we're going to brick up the wall the other side here.

0:42:430:42:47

We're just going to basically strip it back to a blank canvas

0:42:470:42:50

and then put in the kitchen, bathroom suite and so on.

0:42:500:42:54

-What's the timescale?

-I'm saying two to three months. It's not a massive project.

0:42:540:42:59

-Yeah. As soon as you leave today we'll be cracking on with it.

-Right.

-That's my main thought on the place.

0:42:590:43:03

And how much it's going to cost, the budget?

0:43:030:43:06

We're saying about 4,000 to 6,000.

0:43:060:43:08

-Quite tight, that!

-Yeah.

-Kitchen, bathroom?

-Electrics?

0:43:080:43:12

I know you've got your mate doing it, but...

0:43:120:43:14

It's all about knowing people.

0:43:140:43:15

-It's favours, isn't it?

-It's all favours.

0:43:150:43:18

-Well, listen - congratulations. We look forward to seeing how you get on. Good luck with it.

-Cheers.

0:43:180:43:23

Freestyling footballer John carrying on

0:43:230:43:25

in the property developing game with this house.

0:43:250:43:27

Has he found his perfect match here?

0:43:270:43:30

Hopefully there won't be too many financial penalties

0:43:300:43:32

as a result of things taking longer than expected.

0:43:320:43:35

You can find out how it all goes in the second half.

0:43:350:43:39

Well, we have given our buyers time, but has it all gone to plan?

0:43:420:43:46

-Will we return to bare plaster or a perfect finish?

-Let's find out.

0:43:460:43:52

We're now returning to the County Durham market town of Darlington...

0:43:520:43:56

# Drivin' into Darlington County

0:43:560:43:59

# Sha-la-la-la la-la-la... #

0:43:590:44:02

..where earlier in the programme Andy and his wife Andrea paid £420,000

0:44:020:44:07

for this five-bedroom Victorian house in half of this imposing property.

0:44:070:44:12

They wanted it so they could relocate from the country

0:44:120:44:15

to be nearer the town centre. And they had ambitious plans for it.

0:44:150:44:20

The biggest piece of work we're doing is taking out the chimney breast that's between

0:44:200:44:24

the breakfast room and the kitchen, and then going upstairs,

0:44:240:44:27

the same chimney breast between the two smallest bedrooms.

0:44:270:44:30

-Do you have any idea how much rubble that is going to create?

-Oh, yes.

-Oh, It'll be all right.

0:44:300:44:34

Andy runs a civil engineering and groundworks company, so he was well prepared.

0:44:350:44:39

The general building work, the demolition, I'll be doing all myself.

0:44:420:44:45

All of the first-fix works I'll do myself.

0:44:450:44:46

But I will utilise plumbers and electricians.

0:44:460:44:49

The couple haven't yet sold their current house,

0:44:500:44:53

and had set a budget of £70,000 for the work,

0:44:530:44:55

which they hope to complete in five to six months.

0:44:550:44:59

Well, it's now ten and a half months later, and Andy, Andrea,

0:44:590:45:03

plus Jamie and Fiona, will be moving in in a couple of weeks.

0:45:030:45:07

Their current house is still on the market, but their new home's looking great.

0:45:070:45:10

The former kitchen, that was a little shy,

0:45:130:45:16

hiding behind the chimney breast, is now centre stage and very confident.

0:45:160:45:21

What we've done in the kitchen... Originally the kitchen was

0:45:220:45:26

two separate rooms, with a big double thickness chimney breast

0:45:260:45:29

dividing the two, so we've taken that chimney breast out,

0:45:290:45:33

and created a doorway in the corner

0:45:330:45:35

and a utility room from part of the corridor.

0:45:350:45:38

And then at this end of the room we had two windows,

0:45:380:45:41

which we've taken out and made into the French doors,

0:45:410:45:44

put the stone flooring down,

0:45:440:45:47

and then obviously the oak kitchen. And I'm really pleased with the overall effect.

0:45:470:45:52

The living room has had a floral makeover,

0:45:530:45:57

though the dining room still needs some work.

0:45:570:45:59

Upstairs, as planned, the chimney breast

0:45:590:46:02

was also removed from the first floor,

0:46:020:46:04

between two of the smaller bedrooms.

0:46:040:46:06

This has resulted in this large master bedroom.

0:46:060:46:10

The end of the original corridor has been blocked off,

0:46:110:46:15

and the small former bathroom is now the ensuite.

0:46:150:46:19

It sounds like the demolition was as messy as I'd feared.

0:46:190:46:23

We had lots of different people at it, including my children and children's friends,

0:46:230:46:27

everybody's enjoyed taking it down.

0:46:270:46:29

I think it was about six skips in the end, which was less than I'd thought.

0:46:290:46:32

Two of the remaining three bedrooms are for their children.

0:46:330:46:36

Fiona's gone fuchsia.

0:46:360:46:39

And Jamie's gone more neutral, with a splash of blue.

0:46:410:46:45

The connecting door from Fiona's room to the guest room

0:46:450:46:48

has now been blocked off.

0:46:480:46:51

It's a lovely double aspect room.

0:46:510:46:54

The large family bathroom has remained in its original location.

0:46:540:46:59

The room now has much more of a character look -

0:46:590:47:02

all the period plumbing has been replaced.

0:47:020:47:05

And it's all been rewired, too.

0:47:050:47:08

The roof needed a fair amount of attention,

0:47:080:47:11

and that was due to a period feature too.

0:47:110:47:13

It was a wooden drainage system, that needed replacing from when the house was built.

0:47:130:47:19

It was a very old house,

0:47:190:47:21

and...well, years of neglect.

0:47:210:47:23

We just had to put all of those things right.

0:47:230:47:25

The house had scaffolding up for six weeks.

0:47:250:47:29

With the help of builders from Andy's civil engineering and groundworks company,

0:47:290:47:33

the gable ends have been repaired.

0:47:330:47:34

The brickwork's been repointed, and the garage roof removed.

0:47:340:47:39

New wooden windows have been installed throughout.

0:47:400:47:43

What part has Andrea played in the refurbishment?

0:47:430:47:47

My role has predominantly been the decorating -

0:47:470:47:49

stripping paint off skirting boards, stripping woodchip off walls,

0:47:490:47:54

and then starting to put it back together.

0:47:540:47:56

The floor in the lounge has been stripped and re-stained.

0:47:560:48:00

And they've retained much of the original Victorian character.

0:48:000:48:04

They've already bought a new floor for the hall and dining room, which has yet to be laid.

0:48:040:48:09

So, what's left on the to-do list?

0:48:090:48:11

The study, which is now the workshop,

0:48:110:48:14

has to be cleaned out, shelves down,

0:48:140:48:16

and in what used to be the downstairs bathroom and toilet,

0:48:160:48:19

that needs a floor down.

0:48:190:48:22

It's a wet room, cos we've put a shower in.

0:48:220:48:24

We sort of pre-prepped for an orangery on the front.

0:48:240:48:27

We've got the bi-fold doors in the dining room, and the door in the living room.

0:48:270:48:31

The couple are considering extending into the garage in the future.

0:48:310:48:34

But with no extra income yet from the sale of THEIR house,

0:48:340:48:37

what have they spent on the project up to this point?

0:48:370:48:41

The budget was 70 to do it. We're running now roughly about 84.

0:48:410:48:45

We're hoping to get it all done, 88 to 90 at the most.

0:48:460:48:50

They paid £420,000 at auction, which takes their total investment so far to 510,000.

0:48:520:48:58

Time to see what two local estate agents think of how it looks now,

0:49:000:49:05

and the plans for the future.

0:49:050:49:07

I'm very impressed with the house. Grand period property.

0:49:070:49:10

The work that's been done has been done well. Lovely front garden.

0:49:100:49:13

I think the house has got a lot going for it.

0:49:130:49:16

The kitchen downstairs is lovely.

0:49:160:49:18

And certainly the bedrooms upstairs, their size, fit very well in this current market.

0:49:180:49:22

How much do the experts reckon the property could achieve on the market

0:49:220:49:26

once the work is completed?

0:49:260:49:28

More than the £510,000 Andy and Andrea have invested?

0:49:280:49:33

Once the property is finished off,

0:49:330:49:35

my current value would be £475,000 to £495,000.

0:49:350:49:41

Once the work is completed I would suggest that

0:49:410:49:43

the property would be likely to sell for a figure just shy of £500,000.

0:49:430:49:47

Well, there's no initial profit here,

0:49:470:49:50

but as Andrea and Andy have bought the house as their new family home,

0:49:500:49:54

I doubt they will be too disappointed.

0:49:540:49:56

-It's about what we expected. We thought it would be just under the 500 mark, didn't we?

-Yeah.

0:49:570:50:01

You said just under 500 and I said 460-ish, so yeah, it's a little bit more.

0:50:010:50:06

Both estate agents agree that the property could let

0:50:060:50:10

for between £1,250 and £1,500 per calendar month,

0:50:100:50:14

producing a yield of around 3%.

0:50:140:50:17

I could charge you that, then(!)

0:50:180:50:21

No, it's not something we'll be looking at doing.

0:50:210:50:23

Our aim was to make it a family home, trying to keep as many

0:50:230:50:27

features as we can, and somewhere that we'll enjoy living in.

0:50:270:50:30

And I think that's what we've made, we've made it somewhere we'll enjoy living.

0:50:300:50:34

Earlier in the programme in the Derby suburb of Alveston,

0:50:400:50:44

this 1930s three-bed semi was bought for £95,500

0:50:440:50:50

by John, who we met with his friend James.

0:50:500:50:53

John's a football freestyler,

0:50:540:50:57

and this was the second investment property he'd bought with his grandad.

0:50:570:51:01

He hopes to continue doing this until he can eventually buy his own house.

0:51:010:51:06

I basically put in as much money as I can to get in the house

0:51:060:51:08

and he puts the rest, and then I pay for the materials, the labour,

0:51:080:51:13

and whatever else needs to be paid for.

0:51:130:51:16

His old school friend James was going to help out.

0:51:160:51:20

-What's your sort of speciality?

-Electrics, mainly.

0:51:200:51:23

I was supposed to be at college full-time,

0:51:230:51:25

but the funding got removed for the course.

0:51:250:51:27

So now I've got some more spare time I'll be helping a friend out.

0:51:270:51:31

James had also been doing building work for the last four years.

0:51:320:51:36

His dad's an electrician and John's is a builder

0:51:360:51:38

so there was plenty of experience to call on. Which they came to need,

0:51:380:51:41

judging by that crack in the bathroom.

0:51:410:51:45

They had big plans for a small budget - a new kitchen,

0:51:450:51:49

a new bathroom, as well as walls to come down and walls to go up. All in a three-month timescale.

0:51:490:51:54

Well - now, 13 weeks later, it's showtime!

0:51:580:52:02

So, what happened in the front room?

0:52:050:52:08

We all agreed the walls should come down to create an open kitchen...

0:52:080:52:12

and, yes, there it is.

0:52:120:52:14

The boys have gone for a very neutral colour scheme - a wise choice.

0:52:170:52:21

The open-plan slate grey kitchen complements it very well.

0:52:230:52:28

I'm delighted that glass divide to the hall's been bricked up -

0:52:290:52:33

but what about those cracks in the bathroom I'd been concerned about?

0:52:330:52:37

We got a builder to have a look at the cracks in the bathroom,

0:52:370:52:40

and he said structurally everything was fine.

0:52:400:52:42

So we basically re-cemented, and then got on with the tiling and stuff.

0:52:420:52:49

Panic over. That's good news!

0:52:490:52:51

The bedrooms have been equally well finished,

0:52:540:52:56

with new doors, plastering and radiators.

0:52:560:53:00

John and James have concentrated a lot of their time on the house, but who house has been involved?

0:53:000:53:06

The main person that's helped along with us is my dad. He was finishing work and then coming straight here,

0:53:060:53:13

and I think we've both learned a lot from him as well.

0:53:130:53:15

Yeah, definitely. He has been brilliant, he's been really valuable to the success of this project.

0:53:150:53:20

The boys have done reasonably well, with what was a pretty small budget.

0:53:200:53:24

James isn't fully qualified as an electrician, but has been working

0:53:280:53:32

under the supervision of a registered electrician.

0:53:320:53:35

Always remember, when it comes to electrical jobs you must comply with regulations -

0:53:350:53:40

and employ a registered electrician. It's the law.

0:53:400:53:44

It's basically been mostly rewired,

0:53:470:53:50

so we've rewired downstairs and upstairs and put a new fuse board in.

0:53:500:53:53

We've moved some of the light pendants upstairs, cos they were near the window -

0:53:530:53:57

we've moved them to the middle of the room.

0:53:570:53:59

We just made it look up to date.

0:53:590:54:01

We got a qualified electrician in to come in and test everything.

0:54:010:54:05

We've been given the OK and he's going to send the certificate,

0:54:050:54:08

so everything's bang on.

0:54:080:54:10

In UK homes, around 70 people die in electrical accidents every year,

0:54:100:54:14

so make sure you have someone who knows what they're doing.

0:54:140:54:18

Electricity and gas are definitely no-go areas for amateurs.

0:54:180:54:22

However, most of us can turn a hand to gardening,

0:54:220:54:25

and this one has been cleared.

0:54:250:54:27

John and James plan to spend a couple of days getting it in shape.

0:54:270:54:31

There has been a lot of work here. What's been the biggest challenge?

0:54:310:54:35

I think the most difficult part, because we've got no bosses

0:54:350:54:38

and we're working together, is getting each other going.

0:54:380:54:42

If you're doing one or two hours here, nothing will ever get done.

0:54:420:54:45

What effect has that had on John's freestyle football bookings?

0:54:450:54:50

With freestyle, it took a back seat whilst I've been doing the project,

0:54:500:54:54

so I've set up an agency so I can stay hands-on with this project.

0:54:540:54:58

For the future, I'll earn from that as well as doing my own stuff.

0:54:580:55:02

John had set a budget of £4,000 to £6,000.

0:55:020:55:05

Did he manage to keep to that?

0:55:050:55:08

With the budget, we did well.

0:55:080:55:10

We spent £5,500, which was within the 4 to 6 that we aimed for.

0:55:100:55:15

With the £95,500 that John and his grandad paid for the semi,

0:55:150:55:19

that takes the total investment here to £101,000.

0:55:190:55:23

We invited two local property experts

0:55:250:55:27

to have a look.

0:55:270:55:29

What will they think of the finish and the potential?

0:55:290:55:32

First, the auctioneer who sold and viewed it originally.

0:55:320:55:36

It's always interesting when you come into a property you've seen

0:55:360:55:39

in its old clothes, so to speak,

0:55:390:55:41

because the impression is always positive, isn't it?

0:55:410:55:44

When you look around the place,

0:55:440:55:45

you think, "I would have put a better bathroom in than that

0:55:450:55:49

"and I wouldn't have put the wash basin where it is,"

0:55:490:55:51

but the overall impression I think is fine.

0:55:510:55:53

My general impression of the property is good.

0:55:530:55:56

It's a '30s semi, which always looks nice, with the nice bay windows.

0:55:560:56:00

Inside, it's nicely polished, new carpets, decor, new fittings.

0:56:000:56:04

The kitchen and bathroom have been done reasonably cheap

0:56:040:56:08

but still look good.

0:56:080:56:10

How much rental income could the house generate?

0:56:100:56:13

This would have a rental value of about £575 a calendar month.

0:56:130:56:18

I'd be looking round about £550 per calendar month.

0:56:180:56:21

A yield of over 6.5%.

0:56:210:56:24

But rental's not part of the long-term plan for John.

0:56:240:56:28

We want a quick turnaround and we want to get in, get out,

0:56:280:56:32

get the house sold and start the next project.

0:56:320:56:34

John and his grandad intend to sell this place.

0:56:340:56:38

Do the experts value it above the £101,000

0:56:380:56:42

they've invested?

0:56:420:56:44

I think I'd pitch it at £130,000

0:56:440:56:47

and I'd expect offers around £125, maybe a little bit more.

0:56:470:56:51

I'd recommend an asking price not exceeding £125,000.

0:56:510:56:57

That's about as much as, sensibly,

0:56:570:56:59

you would market a property in this location for.

0:56:590:57:01

That would be a profit of between £24,000 and £29,000

0:57:010:57:05

before tax and expenses

0:57:050:57:07

for John and his grandad to share.

0:57:070:57:10

We were looking at about £128,000 to £130,000,

0:57:100:57:14

so, you know, we're nearly there,

0:57:140:57:16

so we've got to be happy with that.

0:57:160:57:19

After 11 weeks of solid work, the lads are looking forward to

0:57:190:57:23

getting their social life back on track.

0:57:230:57:26

Once they've caught up with all the news from their mates,

0:57:260:57:30

what have they got planned?

0:57:300:57:32

I definitely think we'll work again together.

0:57:320:57:34

We're both ambitious and we both want to make money,

0:57:340:57:37

just like everybody else does. We work well together

0:57:370:57:40

so I'm sure we'll link up and sort another project out,

0:57:400:57:44

whether it be property or something else.

0:57:440:57:46

And the latest news is that John has scored with this house.

0:57:460:57:49

It's now been sold for £130,000.

0:57:490:57:53

Well, that's it for today.

0:57:550:57:57

We hope you've enjoyed the trials and tribulations.

0:57:570:58:00

Make sure you join us next time for more Homes Under The Hammer.

0:58:000:58:04

-Goodbye.

-Goodbye.

0:58:040:58:06

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