0:00:02 > 0:00:05Hello and welcome. Now, looking for a plot of land or a doer-upperer...
0:00:05 > 0:00:08..an investment opportunity or a place to live...
0:00:08 > 0:00:11..you can find them all at a property auction.
0:00:36 > 0:00:41Now, there are some key things to remember when buying property at auction.
0:00:41 > 0:00:47Mm-hm. Do your research, view your property, and sort your finances out in advance.
0:00:47 > 0:00:53So, did today's buyers do their homework? Or are they in line for a fail grade?
0:00:54 > 0:00:59'In Kent, this property proves that sometimes you can judge a book by its cover.'
0:00:59 > 0:01:03There's a lot to do in here. There really is.
0:01:04 > 0:01:09'This farmhouse in Cornwall makes me feel rather green around the gills.'
0:01:09 > 0:01:13Oh, boy, oh, boy, is this a project.
0:01:14 > 0:01:19'And I'm in Derby, where this house has plenty of room for improvement inside,
0:01:19 > 0:01:21'but outside is another matter.'
0:01:21 > 0:01:24So, absolutely gorgeous views out of the front of the property.
0:01:25 > 0:01:27'All these properties have been sold at auction.
0:01:27 > 0:01:31'We'll find out who bought them and what they paid for them
0:01:31 > 0:01:33- 'when they went under the hammer.' - HAMMER BANGS
0:01:42 > 0:01:45'Ah, Margate. I know this area well. And in days gone by,
0:01:45 > 0:01:51'it was a quintessential kiss-me-quick Great British seaside holiday destination.
0:01:53 > 0:01:59'Times have changed, and Margate's growing reputation for its boutiques, bars and bistros
0:01:59 > 0:02:02'is bringing the tourists back to the beach.
0:02:03 > 0:02:08'Today I'm venturing a little further inland, to the Dane Park area,
0:02:08 > 0:02:10'which is popular with young families.'
0:02:12 > 0:02:16So, just a mile from that beautiful beach
0:02:16 > 0:02:19is this nice residential road and the property that went under the hammer.
0:02:19 > 0:02:23Now, if you think you pay a premium for being close to the sea,
0:02:23 > 0:02:27ha, you're so wrong, because this house has got three bedrooms
0:02:27 > 0:02:31and it had a guide price of £60,000 to £65,000.
0:02:34 > 0:02:38'At present, it's more tip than tip-top condition.
0:02:38 > 0:02:44'But I've seen more than my fair share of rundown and dilapidated houses on Homes Under The Hammer,
0:02:44 > 0:02:47'so a little mess holds no fear for me.'
0:02:47 > 0:02:51# That's another fine mess you've got me into
0:02:54 > 0:02:57Well, that's what you call a carpet of newspaper.
0:02:57 > 0:03:00Wow! It's really undulating.
0:03:00 > 0:03:04Gosh! That's about an inch deep. That's quite incredible.
0:03:04 > 0:03:09Erm, so there's a lot to do in here, there really is.
0:03:09 > 0:03:12I mean, there's just a whole load of junk in that room.
0:03:12 > 0:03:17Carpets, wood, it just looks like stuff's been just chucked in the corner.
0:03:17 > 0:03:20But if you can see beyond that, the room proportions are fantastic
0:03:20 > 0:03:22and the window's beautiful.
0:03:22 > 0:03:28Second reception room, again, you've just got to see beyond all of this mess.
0:03:28 > 0:03:31Look, you've got a whopping big hole down there.
0:03:31 > 0:03:36There's even a bit of plant life growing somewhere. Rather odd.
0:03:36 > 0:03:40Yeah, you really do have to just see through this
0:03:40 > 0:03:43and think about, is it worth taking on?
0:03:43 > 0:03:45I would say this house is unmortgageable.
0:03:49 > 0:03:54'For the last few years, this place has been empty and allowed to go to rack and ruin.
0:03:54 > 0:04:00'In order to get a mortgage, a property must be deemed fit for human habitation.
0:04:00 > 0:04:03'And this house is far from that.
0:04:03 > 0:04:07'At the back is what's described in the auction catalogue as the kitchen.
0:04:07 > 0:04:11'Mm. Well, I can see a sink.
0:04:11 > 0:04:14'Oh, dear, this place is definitely in a dreadful state.
0:04:14 > 0:04:17'But as I explore this lot further,
0:04:17 > 0:04:19'I can see the odd period feature
0:04:19 > 0:04:24'and the potential it has to be more than simply fit for human habitation
0:04:24 > 0:04:27'and become a place that people would love to call home.
0:04:27 > 0:04:30'OK. Fingers crossed for up top now.'
0:04:32 > 0:04:36So, upstairs, am I going to be delightfully surprised?
0:04:36 > 0:04:42No. I think it's actually worse up here, it really is a dust pit.
0:04:42 > 0:04:45So let's start with what I think might be the bathroom,
0:04:45 > 0:04:48but there's also a bed in here.
0:04:48 > 0:04:51So call me silly, I'm not quite sure what room that is.
0:04:51 > 0:04:56There's a massive hole leading to the garden down there!
0:04:56 > 0:04:59There's no window there so I can see the next door neighbour's roof.
0:04:59 > 0:05:03I can see into one of the bedrooms through this hole in the wall.
0:05:03 > 0:05:08Erm, yeah, so, so much work needs to be done.
0:05:08 > 0:05:11This place needs to be taken back to bare brick.
0:05:11 > 0:05:15Not a bad size bedroom, and surprisingly, look,
0:05:15 > 0:05:20you've got some nice little fireplaces here, really quite beautiful.
0:05:20 > 0:05:23Along with all the slates from the roof.
0:05:23 > 0:05:25I would certainly get that looked at.
0:05:25 > 0:05:28You have got two beautiful windows in here, though.
0:05:28 > 0:05:31Once they've been refurbished, they will look lovely.
0:05:31 > 0:05:37You cannot underestimate the amount of work that needs doing in this house.
0:05:39 > 0:05:42'Whenever I view a property in this condition,
0:05:42 > 0:05:45'I ask myself how on earth it got into such a state.
0:05:45 > 0:05:47'But perhaps the more important question is
0:05:47 > 0:05:53'what needs to be done to make it the warm and welcoming family home it was built to be?
0:05:53 > 0:05:58'I only hope the new owner has the desire and, just as importantly,
0:05:58 > 0:06:02'the resources to make this place a lovely home once more.'
0:06:03 > 0:06:07# We can't close the door
0:06:07 > 0:06:09# On this broken home
0:06:13 > 0:06:16'We invited a local estate agent to give his opinion on this property
0:06:16 > 0:06:21'which had a guide price of £60,000 to £65,000.'
0:06:21 > 0:06:24First impressions of the house is it could do with a lick of paint.
0:06:24 > 0:06:27It certainly needs a lot of renovation.
0:06:27 > 0:06:30But not beyond the realms of possibility of putting it back into good shape.
0:06:30 > 0:06:34'So after that lick of paint and major renovation work,
0:06:34 > 0:06:37'how much could this house be worth?'
0:06:37 > 0:06:40Once refurbished to a reasonable standard,
0:06:40 > 0:06:44I would expect this to sell at around £125,000.
0:06:44 > 0:06:49'Well, this place could be a money-maker rather than a money pit after all.
0:06:49 > 0:06:51'What about renting it out?'
0:06:52 > 0:06:55It's in a good area so the property would rent quite well.
0:06:55 > 0:06:59If it is still as a three-bedroom, it could get anything up to £650 a month.
0:07:02 > 0:07:04This house is not a job for amateurs.
0:07:04 > 0:07:06Everything needs doing.
0:07:06 > 0:07:09But if you're not scared off by the state of the place
0:07:09 > 0:07:12and you pay near the guide price,
0:07:12 > 0:07:14there could be some room for some profit here.
0:07:14 > 0:07:19So let's see who wanted this muddled Margate house when we went to auction.
0:07:21 > 0:07:23We've got a guide of £60,000 to £65,000.
0:07:23 > 0:07:26What may I say? A lot of interest in this. £60,000 to start me.
0:07:26 > 0:07:29There should be some hands springing up like mushrooms.
0:07:29 > 0:07:32£60,000 anywhere?
0:07:32 > 0:07:34£60,000?
0:07:34 > 0:07:3760 I have, thank you. At £60,000 I'm bid.
0:07:37 > 0:07:39And 62 do I see?
0:07:39 > 0:07:43At £60,000 I'm bid. This is lot 30.
0:07:43 > 0:07:46At 62. And 65.
0:07:46 > 0:07:49At 62,000 on my left hand side.
0:07:49 > 0:07:51At £62,000. 65 do I see?
0:07:51 > 0:07:5565 in a fresh place. And 67. 67 is bid.
0:07:55 > 0:07:57And 70.
0:07:57 > 0:07:5967 on my far left.
0:07:59 > 0:08:01At 67,000. 68 if it helps.
0:08:01 > 0:08:04At 67. 68 in a fresh place.
0:08:04 > 0:08:07At 69. 69 I have. And 70?
0:08:07 > 0:08:1070 is bid. And 71. And 72.
0:08:10 > 0:08:14And 74. And 76. And 78. And 80.
0:08:14 > 0:08:18At £78,000 on my left.
0:08:18 > 0:08:20At 78,000 out on my far left.
0:08:20 > 0:08:24At 78,000. 80 do I see anywhere?
0:08:24 > 0:08:267...
0:08:26 > 0:08:2979. 79,000, then, for the first time.
0:08:29 > 0:08:32Anybody else can join in.
0:08:32 > 0:08:35At 79. And 80,000 I have. 81.
0:08:35 > 0:08:3881. And 82.
0:08:38 > 0:08:41At 81,000, anybody else can join in,
0:08:41 > 0:08:44but for the first time then at 81,000.
0:08:44 > 0:08:46Gentleman on my left with a leather jacket on.
0:08:46 > 0:08:49At 81,000 for the second time.
0:08:49 > 0:08:5281,000, third and final time,
0:08:52 > 0:08:55- at 81,000, are you all done? - HAMMER BANGS
0:08:55 > 0:09:00'The new owner is Michael with his successful bid of £81,000,
0:09:00 > 0:09:03'more than 20 grand over the guide price.
0:09:04 > 0:09:07'Michael's an estate agent and developer based in London
0:09:07 > 0:09:10'who, attracted by the regeneration of Margate,
0:09:10 > 0:09:12'is investing in the local property market.
0:09:12 > 0:09:15'He was on this programme in 2009,
0:09:15 > 0:09:18'when he renovated a maisonette in London.
0:09:18 > 0:09:24'He had set up an organisation which helps find houses for homeless families.
0:09:24 > 0:09:26'They may have no references or deposits
0:09:26 > 0:09:31'but are given financial assistance by the government in the form of housing benefit.
0:09:31 > 0:09:35'The property in London was let to a family found through that organisation,
0:09:35 > 0:09:38'which is now a registered charity.
0:09:38 > 0:09:41'So what are Michael's plans for his latest purchase?'
0:09:41 > 0:09:47- Michael, we meet again. I think it was five years since I interviewed you last.- Something like that, yes.
0:09:47 > 0:09:51Tell me, what you are doing now? Last time we met, you were very involved with the charity
0:09:51 > 0:09:53and running an estate agency.
0:09:53 > 0:09:56Still much of the same. I've aged gracefully, you even more so.
0:09:56 > 0:09:59- Thank you.- We're very keen to help people who are homeless
0:09:59 > 0:10:01and that's what we're primarily concentrating on.
0:10:01 > 0:10:05We're arranging property investment for other landlords and for ourselves.
0:10:05 > 0:10:09So why have you ventured out of London for a property like this one in Margate?
0:10:09 > 0:10:13I'm very keen that families should have a nice house and live in a reasonable area,
0:10:13 > 0:10:16be able to send kids to local schools, and in London,
0:10:16 > 0:10:18because of the capping of rents, it's very, very difficult.
0:10:18 > 0:10:21And we've lined up a family that would wish to move here,
0:10:21 > 0:10:24that's seen the potential and wants to start afresh here
0:10:24 > 0:10:27and hopefully, you know, will establish themselves.
0:10:29 > 0:10:32'It's wonderful that there's a promise of a new beginning
0:10:32 > 0:10:37'not only for the family moving to Margate but also for this house.'
0:10:37 > 0:10:41Can you see the end product of this property?
0:10:41 > 0:10:43I think it needs a great deal to be done.
0:10:43 > 0:10:45But sometimes, you know, in a way, it's good to gut a place.
0:10:45 > 0:10:49We've got some original fireplaces which we'll keep, we'll keep some familiar things.
0:10:49 > 0:10:53We'll put in some nice new kitchen and bathroom. It'll be good when it's finished.
0:10:53 > 0:10:58£81,000 you paid for this at auction. Do you think you might have paid the top end for this property?
0:10:58 > 0:11:01As with any auction, when you're bidding, you want to go to a certain level,
0:11:01 > 0:11:06but I was edging up because I had a homeless family in mind and I didn't want to let them down.
0:11:06 > 0:11:08This house when it's finished will be very pleasant,
0:11:08 > 0:11:11it won't be luxurious but it will be pleasant,
0:11:11 > 0:11:16and it will still suit the needs and the requirements of that family. So in that sense, it'll be fine.
0:11:16 > 0:11:19Michael, what sort of budget do you have in mind?
0:11:19 > 0:11:23Because you have to take this house back to the bare brick, it really does need everything doing.
0:11:23 > 0:11:25We're looking about £23,000 to £25,000.
0:11:25 > 0:11:29That's a relatively small budget, in my book,
0:11:29 > 0:11:34to do this whole house, kitchens, bathrooms, everything, it needs clearing...
0:11:34 > 0:11:36It may have to go above budget
0:11:36 > 0:11:41but I'd rather be demoralised by having a little bit of a surprise on the upward side,
0:11:41 > 0:11:44rather than have too high expectations.
0:11:44 > 0:11:46And how long you think it's going to take to get it up and ready?
0:11:46 > 0:11:51I'd have thought six or seven weeks. The backyard will be cleared and turned.
0:11:51 > 0:11:56- This'll be the Costa Del Margate when this is finished. - I love your faith in Margate.
0:11:56 > 0:11:58# You can keep the Costa Brava
0:11:58 > 0:12:01# I'm telling you, mate, I'd rather have a day down Margate
0:12:01 > 0:12:04# With all my family
0:12:04 > 0:12:09'It takes vision and determination to be able to look beyond the crumbling walls and rotten floors.
0:12:09 > 0:12:12'But Michael has both in abundance.'
0:12:12 > 0:12:17Michael, I'm intrigued to find out how the layout of this property is going to work.
0:12:17 > 0:12:20There'll be changes here. We'll be having a bedroom at the back
0:12:20 > 0:12:23where the bathroom may originally have been.
0:12:23 > 0:12:28And there'll be a bathroom here in the room behind, and this room will be divided into two.
0:12:28 > 0:12:31So ultimately there'll be three bedrooms up here and a bathroom.
0:12:31 > 0:12:34Fantastic. That is what a family house needs,
0:12:34 > 0:12:36especially bringing a bathroom upstairs.
0:12:36 > 0:12:40So do you have a team of builders in mind that are going to be setting...
0:12:40 > 0:12:43Yeah, there's a nice story there. The builders we use here in Margate
0:12:43 > 0:12:45were originally a family we housed in London
0:12:45 > 0:12:48who came from very difficult circumstances,
0:12:48 > 0:12:51and the young guy who was in his 20s has established himself,
0:12:51 > 0:12:56bought his own little detached house and has a couple of nice cars
0:12:56 > 0:13:00and a wife and children, and does our building work and charges for it.
0:13:00 > 0:13:04Michael, I can't wait to see what happens, who ends up getting the house and how well it's done.
0:13:04 > 0:13:08- Thank you so much for coming along today. Lovely seeing you again. - My pleasure.- Thank you.
0:13:10 > 0:13:15Well, Michael has a team of builders all ready to go, but the pressure is on.
0:13:15 > 0:13:19He's got a tenant already lined up waiting to move in.
0:13:19 > 0:13:23So, will things run to plan? Will they stick to their budget?
0:13:23 > 0:13:27And will they get everything done to their tight timescale?
0:13:27 > 0:13:31You can find out how Michael gets on later on in the programme.
0:13:36 > 0:13:40'Ah. Beautiful Truro in Cornwall.
0:13:40 > 0:13:44'And when the sun is shining, there's no better place to be.'
0:13:44 > 0:13:48# Oh, it's such a perfect day
0:13:49 > 0:13:52# I'm glad I spent it with you
0:13:54 > 0:13:58'And could a large farmhouse in Blackwater,
0:13:58 > 0:14:01'just seven miles from Truro, be the perfect home?
0:14:01 > 0:14:05'Or is the price tag telling us something?'
0:14:05 > 0:14:09Well, the guide price was £225,000
0:14:09 > 0:14:14for a six or seven-bedroom property in around about two acres of land.
0:14:15 > 0:14:18Uh! That could explain it.
0:14:18 > 0:14:21It doesn't look like that good condition really, does it? Nah.
0:14:21 > 0:14:25That's just one of the things in the grounds.
0:14:25 > 0:14:30This is the property itself, and actually, in some ways... it looks worse.
0:14:30 > 0:14:33# That don't impress me much
0:14:33 > 0:14:36'This property dates back to the 1840s
0:14:36 > 0:14:39'and was updated in the 1960s.
0:14:39 > 0:14:43'It now presents a somewhat characterless face to the world.
0:14:43 > 0:14:47'It looks rather like a giant green shed.'
0:14:48 > 0:14:50Hm. Yes. Not that pleasant at all.
0:14:50 > 0:14:54But anyway, what's inside? OK, we've got a loo there, at the entrance.
0:14:54 > 0:14:59Straight away I'm seeing higgledy-piggledy. Oh, blimey!
0:14:59 > 0:15:03Lots of little corridors leading to a mishmash of rooms.
0:15:03 > 0:15:07Stairs up to the bedrooms, or some of the bedrooms, anyway.
0:15:07 > 0:15:11As you walk through into the property, at least you start to get some original features.
0:15:11 > 0:15:17We like this. A huge great inglenook fireplace. I doubt it had this bit on it in the first place.
0:15:17 > 0:15:19That's been put in to make the fire actually work.
0:15:19 > 0:15:21But get that cleaned up and that's quite nice.
0:15:21 > 0:15:26Straight away I'm seeing things as basic as electrics.
0:15:26 > 0:15:30Not up to current standards, I don't think.
0:15:30 > 0:15:33This part of the house, though, it's dark, it's dingy,
0:15:33 > 0:15:38it's got the big thick walls, it's going to need some sorting out. Oh, boy, oh, boy, is this a project!
0:15:38 > 0:15:40# Working nine to five
0:15:40 > 0:15:43# What a way to make a living
0:15:43 > 0:15:48'Well, you're going to have to put in even more hours than Dolly Parton to refurbish this house.
0:15:48 > 0:15:51'Each room requires a serious overhaul.
0:15:51 > 0:15:57'Luckily, when it all gets a bit too much, you can retire to the conservatory to put your feet up.
0:15:57 > 0:16:02'Not something I've got time for, though, with six bedrooms upstairs still to see.'
0:16:02 > 0:16:05BENNY HILL THEME
0:16:22 > 0:16:25So, it's not just the house that you get for your money,
0:16:25 > 0:16:30you also get over two acres of land and it extends all the way over here.
0:16:30 > 0:16:33It's very difficult to see where the boundary is cos it's so overgrown.
0:16:33 > 0:16:38But what could this potentially be? Well, a development plot. Now, let's talk about that.
0:16:38 > 0:16:41If you were to build, say, a four, five-bedroom house on here,
0:16:41 > 0:16:44and I think there's enough room for it, sell that on,
0:16:44 > 0:16:49potentially that could fund the rebuilding of that property there.
0:16:50 > 0:16:53On the other hand, it's really nice to have this bit as a paddock area,
0:16:53 > 0:16:56so why not create yourself that idyllic life in the country?
0:16:56 > 0:16:58Oh, the options are yours.
0:16:58 > 0:17:02# I touched the green, green grass of home
0:17:02 > 0:17:05'There are more than two acres here,
0:17:05 > 0:17:08'so ample room to build another property.
0:17:08 > 0:17:11'But perhaps you'd rather enjoy the solitude and quiet.'
0:17:13 > 0:17:17Well, sadly, you think Cornwall and you think seaside or beautiful open views.
0:17:17 > 0:17:19The property's location is not ideal,
0:17:19 > 0:17:23right by the side, literally, of the A30, the main road through Cornwall.
0:17:23 > 0:17:25What can you do about it? Well, absolutely nothing.
0:17:25 > 0:17:28Maybe it's time to consider double glazing.
0:17:28 > 0:17:31# I'm on the highway to hell
0:17:32 > 0:17:35'Fortunately, the main house already has double glazing
0:17:35 > 0:17:38'and so it seems does the garden,
0:17:38 > 0:17:41'in which there's another interesting little item.'
0:17:43 > 0:17:4812 years ago, this well used to provide the water for three properties around here.
0:17:48 > 0:17:51There's no reason to think it couldn't be brought back into service.
0:17:51 > 0:17:55You'd have to have it checked out, have somebody come and check the water was safe to drink,
0:17:55 > 0:18:00you'd probably have to put in a purification plan, but it could save you a considerable amount of money.
0:18:00 > 0:18:03And just the aesthetics of having your own well - how cool is that?
0:18:03 > 0:18:06# Till the well runs dry
0:18:06 > 0:18:08# Till the well runs dry
0:18:08 > 0:18:10'I think it's swell having your own well,
0:18:10 > 0:18:15'but close by there's something that's not so nice.'
0:18:15 > 0:18:18Well, lovely and large though the garden is,
0:18:18 > 0:18:21in it lurks a potential problem.
0:18:21 > 0:18:23This area of Cornwall, of course,
0:18:23 > 0:18:25famous for its mining in the past,
0:18:25 > 0:18:28and here in the garden,
0:18:28 > 0:18:31the remains of a mine shaft.
0:18:31 > 0:18:35In order to discern whether or not this is a problem, you need to get the local coal authority out,
0:18:35 > 0:18:38they'll look at it and say, "Yes, it could be a problem."
0:18:38 > 0:18:41Thankfully it's a reasonable distance away from the house.
0:18:41 > 0:18:45Er, but I wouldn't buy this place until I had that investigated.
0:18:45 > 0:18:48'Bearing in mind that its guide price was £225,000,
0:18:48 > 0:18:51'what does a local estate agent make of this place?
0:18:51 > 0:18:54'We asked one for his thoughts.'
0:18:54 > 0:18:59It's sizey. It's got three reception rooms, conservatory,
0:18:59 > 0:19:03six/seven bedrooms upstairs, so it's a very good-sized accommodation.
0:19:04 > 0:19:10'OK, let's talk numbers. How much might the house sell for once refurbished?'
0:19:10 > 0:19:12If it was fully renovated,
0:19:12 > 0:19:17it should sell in the region of £450,000 to £500,000.
0:19:17 > 0:19:21'What about the rental market?'
0:19:21 > 0:19:27This property should generate between £1,000 and £1,500 per calendar month in rental.
0:19:27 > 0:19:30'And if the new owners manage to build a second dwelling,
0:19:30 > 0:19:33'how much could that sell on for?'
0:19:33 > 0:19:36If the owners were to develop the land
0:19:36 > 0:19:40and build a three to four-bedroom detached property on the plot,
0:19:40 > 0:19:45they could be looking at a resale value of around £300,000 to £350,000.
0:19:46 > 0:19:49So, what would you do if you were to take this place on?
0:19:49 > 0:19:52There's certainly a lot of work required to sort it out
0:19:52 > 0:19:57and it might make more financial sense to knock it down and start again.
0:19:57 > 0:20:00On the plus side, there is the development potential on the plot.
0:20:00 > 0:20:05On the negative side, well, you have got the road and also that mineshaft.
0:20:05 > 0:20:08Lots of things to think about. Let's find out who bought it at the auction.
0:20:11 > 0:20:15Six-bedroom farmhouse. All sorts of outbuildings.
0:20:15 > 0:20:18It ought to be talking 200,000 straight in.
0:20:18 > 0:20:21200 straight in. 200, he says.
0:20:21 > 0:20:24At 200. At 200. At 200. At 200.
0:20:24 > 0:20:26And two. 202.
0:20:26 > 0:20:28204. 206.
0:20:28 > 0:20:30208.
0:20:30 > 0:20:32208. At 208.
0:20:32 > 0:20:34210. 212.
0:20:35 > 0:20:39Isn't that embarrassingly far away? 214. 214. 216.
0:20:39 > 0:20:4418. 20. At 220. At 220.
0:20:44 > 0:20:47At 220 first time, then.
0:20:47 > 0:20:50At 220 second time.
0:20:50 > 0:20:53At 220. Looking hard around.
0:20:53 > 0:20:55220. Take a single off anyone.
0:20:55 > 0:20:58220, third and last time. At 220.
0:20:58 > 0:21:00- HAMMER BANGS - Sir, yours.
0:21:00 > 0:21:05'That successful bid of £220,000 was made by Mark.
0:21:05 > 0:21:08'He's a fireman and also has a building background,
0:21:08 > 0:21:11'which I'm sure will come in handy for this place.
0:21:11 > 0:21:15'I met up with him at the property to find out more.'
0:21:15 > 0:21:17- Mark, lovely to meet you. Congratulations.- Thank you.
0:21:17 > 0:21:21- You've got yourself a bit of a challenge here.- I think so, yes.
0:21:21 > 0:21:25I do like a challenge. Probably the biggest one I've took on so far.
0:21:25 > 0:21:28So why did you want to come to Cornwall so much?
0:21:28 > 0:21:31I like the lifestyle. It's so much more relaxed.
0:21:31 > 0:21:35I'm fed up with looking out the window and seeing rows and rows of terraced houses.
0:21:37 > 0:21:39# I want to get away, get away
0:21:39 > 0:21:45'This piece of Cornish countryside is a world away from Mark's end-of-terrace house in Kent.'
0:21:45 > 0:21:50It's probably about four to five times the size of the house.
0:21:50 > 0:21:54And probably... 500 times the size of the garden.
0:21:54 > 0:21:57'But Mark isn't doing this alone.
0:21:57 > 0:22:02'His partner Julie and her children, Morgan and Nadine, will be helping him out.
0:22:02 > 0:22:05'But why did Mark choose this house?'
0:22:05 > 0:22:11I was looking for something that I considered to be a good value property, really.
0:22:11 > 0:22:16So I wanted a decent amount of space around it. I wanted a decent amount of land.
0:22:16 > 0:22:19Julie likes to grow veg and fruit and stuff. There's plenty of room for that.
0:22:19 > 0:22:21There's plenty of room for the dogs to run round.
0:22:21 > 0:22:26- So you've got dogs. What about other animals?- Yeah, we've got four parrots, two giant rabbits,
0:22:26 > 0:22:28a normal rabbit, two chipmunks.
0:22:28 > 0:22:32What? All in your end-of-terrace house in Kent?
0:22:32 > 0:22:34Yes. It's a little tight in places.
0:22:35 > 0:22:41'It sounds like all the species of this household will fill up this property perfectly
0:22:41 > 0:22:44'and still leave plenty of room for Mark's 83-year-old mum,
0:22:44 > 0:22:47'who will be relocating with them.
0:22:47 > 0:22:50'But what about that mineshaft?'
0:22:50 > 0:22:53The mineshaft is about 75 metres away from the house.
0:22:53 > 0:22:58So even if there was a collapse situation, it wouldn't affect the property.
0:22:58 > 0:23:01That's been checked out through mining searches.
0:23:01 > 0:23:03'That's good news about the mineshaft.
0:23:03 > 0:23:09'And with the house double-glazed already, the main road won't bother Mark and his family.
0:23:09 > 0:23:11'But what are his plans for this place?'
0:23:11 > 0:23:14Could do with a couple of extra windows in the main living room,
0:23:14 > 0:23:16because there's nothing on the front.
0:23:16 > 0:23:21At some point, I will be looking at re-pitching the roof because it's got a very large flat roof on the front.
0:23:21 > 0:23:24What about the layout? Cos it is quite bitty at the moment, isn't it?
0:23:24 > 0:23:30It is, but it lends itself quite well to the idea of my mum having her own separate area,
0:23:30 > 0:23:35because we've got the living room at the end there, and then there's a shower and a toilet off of that
0:23:35 > 0:23:37and there's also a door that can shut that off.
0:23:37 > 0:23:40She can then come out into the conservatory, as well, from there.
0:23:40 > 0:23:43So it'll give her a bit of freedom there.
0:23:45 > 0:23:49'With their £55,000 budget and a timescale of two years,
0:23:49 > 0:23:53'Mark and Julie's new life in Cornwall is beginning
0:23:53 > 0:23:55'with the prospect of waiting for their dream home.
0:23:55 > 0:24:00'Although a fireman now, Mark began his working life as a carpenter,
0:24:00 > 0:24:05'so his hands-on building skills are definitely going to be put to good use here.'
0:24:06 > 0:24:09It is a major project, isn't it?
0:24:09 > 0:24:12It is. I like a challenge.
0:24:13 > 0:24:18Wow! Well, this is a challenge enough
0:24:18 > 0:24:23without the added complications of having to rehouse dogs, parrots,
0:24:23 > 0:24:26chickens, chipmunks, oh, and an 83-year-old lady.
0:24:27 > 0:24:31How are they going to get on? Join us later in the show and find out.
0:24:32 > 0:24:36'Coming up in Derby, the renovation of this house on a hill
0:24:36 > 0:24:39'might be an uphill struggle.'
0:24:39 > 0:24:41As a first impression, that's not good!
0:24:42 > 0:24:46'Back on the farm, has Mark enjoyed creating his dream home?'
0:24:48 > 0:24:52It's been a lot of work, but it's been fun.
0:24:53 > 0:24:56'But first, a progress report in Kent.'
0:24:56 > 0:25:01The only thing that we didn't have to do was, erm, sort of, erm... Actually, we had to do everything.
0:25:05 > 0:25:08'Let's make our way back to Margate...
0:25:09 > 0:25:13'..where I viewed this three-bedroom terrace
0:25:13 > 0:25:17'which had a guide price of between £60,000 and £65,000.
0:25:17 > 0:25:20'Now, if there's one thing I've learned on Homes Under The Hammer
0:25:20 > 0:25:23'it's that you can't always judge a book by its cover.
0:25:23 > 0:25:25'But then again, sometimes you can.
0:25:28 > 0:25:32'This house was in a big mess. It had been empty for a few years
0:25:32 > 0:25:36'and become derelict and very dilapidated.'
0:25:39 > 0:25:45You cannot underestimate the amount of work that needs doing in this house.
0:25:46 > 0:25:48'But seeing beyond the dingy conditions
0:25:48 > 0:25:52'was London-based estate agent and property developer Michael.
0:25:54 > 0:25:57'He paid £81,000 for it at auction.
0:25:57 > 0:26:02'His many years of experience meant this horrifying house held no fear for him.'
0:26:04 > 0:26:07Can you see the end product of this property?
0:26:07 > 0:26:10I think it needs a great deal to be done,
0:26:10 > 0:26:12but sometimes, you know, in a way, it's good to gut a place.
0:26:12 > 0:26:16We've got some original fireplaces which we'll keep. We'll keep some familiar things.
0:26:16 > 0:26:20We'll put in some nice new kitchen and bathroom. It'll be good when it's finished.
0:26:21 > 0:26:24'Michael may have been cool, calm and collected,
0:26:24 > 0:26:28'but I was worried about his £25,000 budget
0:26:28 > 0:26:32'and super-speedy and perhaps optimistic seven-week schedule.
0:26:32 > 0:26:35'Could he really bring this place back from the brink?'
0:26:36 > 0:26:39# I'm flying into pieces
0:26:40 > 0:26:42'A mere two months later, we're back.'
0:26:43 > 0:26:46# I'm flying into pieces
0:27:06 > 0:27:11'From top to bottom, inside and out, this terrace has been utterly transformed
0:27:11 > 0:27:15'from derelict wreck to a very desirable residence.
0:27:15 > 0:27:18'Usually at this point we'd ask, "So, what have you done?"
0:27:18 > 0:27:21'But on this occasion, it might be more apt to ask,
0:27:21 > 0:27:24'"What haven't you done?"'
0:27:25 > 0:27:28The only thing that I think we didn't have to do was, erm,
0:27:28 > 0:27:31sort of, erm... Actually, we had to do everything.
0:27:31 > 0:27:35A new roof, new windows. We made some changes in the layout upstairs.
0:27:35 > 0:27:40The only thing that remained were some of the features, a couple of nice fireplaces, that was all.
0:27:44 > 0:27:48'Nowhere is the transformation of this terrace from tragedy to triumph
0:27:48 > 0:27:50'more evident than in the kitchen.
0:27:50 > 0:27:53'Michael has even added an interesting light feature.
0:27:53 > 0:27:58'Could this be the start of a new trend, the kitchen-cum-discotheque?'
0:28:01 > 0:28:05# That's why you'll always find him in the kitchen at parties
0:28:06 > 0:28:11This was absolutely derelict. There was nothing here, nothing that even looked like a kitchen.
0:28:11 > 0:28:13So we've had to totally transform it,
0:28:13 > 0:28:19put in the units, put in the electrics, put in a new floor. Everything is changed.
0:28:19 > 0:28:24I think it's nice. We've got some disco lights if anyone wants to dance round. Really pleasant. Really nice.
0:28:26 > 0:28:29'Michael was determined to have an upstairs bathroom,
0:28:29 > 0:28:33'which he feels, and I agree, is more family-friendly.
0:28:33 > 0:28:36'So he converted the back bedroom into one.'
0:28:42 > 0:28:49We've totally changed this. Lovely corner unit. Heated towel rail. Lovely sink and WC.
0:28:49 > 0:28:54Very pleasant, fully tiled, nice flooring. Really looks grand. It's lovely.
0:28:55 > 0:28:59'In order to retain three bedrooms,
0:28:59 > 0:29:01'Michael divided the master one...
0:29:03 > 0:29:06'..to create a pair of single bedrooms.
0:29:07 > 0:29:12'While these are certainly not spacious, they would suit young children.
0:29:13 > 0:29:18'However, in order to create a new entrance for the partitioned bedrooms,
0:29:18 > 0:29:21'he had to take space from the third bedroom.
0:29:21 > 0:29:25'For a master, it's ever so slightly on the small side.
0:29:25 > 0:29:28'But I have to commend Michael for his good use of space.
0:29:31 > 0:29:34'15 years ago, he set up an organisation
0:29:34 > 0:29:38'which helps homeless families move into private accommodation.
0:29:39 > 0:29:42'Landlords usually demand references and require deposits,
0:29:42 > 0:29:47'which can exclude disadvantaged families in need of a home.
0:29:47 > 0:29:50'So this charity works with private landlords
0:29:50 > 0:29:53'who place these people in houses they can make their home.
0:29:53 > 0:29:58'The landlords receive the market rate for their property from government subsidies.
0:29:58 > 0:30:02'The builder who Michael employed to carry out the renovation, Adam,
0:30:02 > 0:30:05'was previously a beneficiary of this charity.'
0:30:05 > 0:30:08Quite a few years ago he rehoused my family,
0:30:08 > 0:30:10under the House The Homeless scheme he's got,
0:30:10 > 0:30:14and then we moved to Margate, he had a few properties down here,
0:30:14 > 0:30:18he asked me to maintain a couple of them, we did well,
0:30:18 > 0:30:22and it escalated from there. He's asked me to look after the rest of them
0:30:22 > 0:30:24and now we do all his building work.
0:30:25 > 0:30:27'How has Adam found doing this job?'
0:30:29 > 0:30:32The biggest problem was probably doing the roof,
0:30:32 > 0:30:35because it was snowing at the time. HE LAUGHS
0:30:35 > 0:30:37Bad time to start, but, you know?
0:30:37 > 0:30:40But, no, other than that, everything else was OK.
0:30:40 > 0:30:43'Adam has spent eight weeks on the project.
0:30:43 > 0:30:46'But how much has it cost?
0:30:47 > 0:30:49'Michael hasn't skimped on the finish.
0:30:49 > 0:30:52'The oak doors add a touch of quality.
0:30:52 > 0:30:57'So has he kept to his £25,000 maximum budget?'
0:30:59 > 0:31:03The final bill was £24,000 which, given the work that's been carried out, is very reasonable.
0:31:04 > 0:31:07'Reasonable? Now there's an understatement.
0:31:07 > 0:31:11'Adding Michael's £81,000 purchase price
0:31:11 > 0:31:14'makes the total outlay £105,000.
0:31:16 > 0:31:18'So what's he most pleased with?'
0:31:19 > 0:31:22My favourite bit of the house, I think, is the bathroom.
0:31:22 > 0:31:27It's really nice. If David Beckham didn't live in a prestigious property in West London now,
0:31:27 > 0:31:30I'm sure he'd be very happy to have bath time here.
0:31:32 > 0:31:35'So is his development financially offside?
0:31:35 > 0:31:37'Or is he on a winning streak?
0:31:37 > 0:31:41'We've lined up two local estate agents to give us their opinions.'
0:31:41 > 0:31:44I think this is a fantastic three-bedroom terraced house,
0:31:44 > 0:31:49obviously completely refurbished to a very reasonable standard,
0:31:49 > 0:31:51and I think it will make an ideal family home.
0:31:51 > 0:31:54The changes are amazing. They've done an extremely good job
0:31:54 > 0:31:58in a very short time and transformed the look and feel of the property.
0:31:59 > 0:32:03'Bearing in mind Michael's total spend of £105,000,
0:32:03 > 0:32:07'how much do the estate agents believe the property could achieve if sold?'
0:32:09 > 0:32:12I think this property would sell to a first-time buyer
0:32:12 > 0:32:16and you'd be looking at around about £130,000.
0:32:16 > 0:32:21I would suggest they put it on the market between £130,000 and £135,000.
0:32:21 > 0:32:26That's fantastic. That gives a notional profit of quite a significant amount. That's great.
0:32:26 > 0:32:30'Michael seems chuffed with those valuations,
0:32:30 > 0:32:34'which would give him a profit between £25,000 and £30,000,
0:32:34 > 0:32:39'minus tax and expenses. But he intends to let this house.'
0:32:41 > 0:32:46I think you're going to be looking at around about £650 per calendar month.
0:32:46 > 0:32:51In the current market, I would expect them to achieve about £650 per calendar month.
0:32:51 > 0:32:53That's what we were looking at. Originally I thought a bit more
0:32:53 > 0:32:56but we've looked at market rents and that seems reasonable, yeah.
0:32:56 > 0:32:59'£650 per calendar month
0:32:59 > 0:33:05'would give Michael a healthy yield of just under 7.5 percent.
0:33:09 > 0:33:14'This house has been given a new lease of life by Michael and Adam.
0:33:14 > 0:33:17'It will be a fantastic family home for the tenants
0:33:17 > 0:33:20'who are also making a fresh start.
0:33:20 > 0:33:24'Michael must be very proud of all that he's achieved.'
0:33:24 > 0:33:27I'm really happy. Whenever you're bidding at an auction,
0:33:27 > 0:33:29you never know quite what to bid to,
0:33:29 > 0:33:32but now that the work's been done, the house looks really clean,
0:33:32 > 0:33:34really good, really clean, really pleasant,
0:33:34 > 0:33:38I'm really pleased with the work that Adam's done and I'm very glad I bought it.
0:33:47 > 0:33:50I'm in Ambergate in Derbyshire,
0:33:50 > 0:33:53about three and a half miles from the nearest town of Belper.
0:33:53 > 0:33:56It's got a railway station but not many other facilities
0:33:56 > 0:33:59so you are going to need a car if you live here.
0:33:59 > 0:34:04That's the downside. The upside is you're surrounded by this incredible Derbyshire scenery.
0:34:05 > 0:34:09'I'm right in the heart of the Derwent Valley here,
0:34:09 > 0:34:12'and if it's a semi-rural retreat you're looking for,
0:34:12 > 0:34:15'you couldn't do much better than Ambergate.
0:34:15 > 0:34:19'If you do need a few more facilities than this picturesque hamlet has to offer,
0:34:19 > 0:34:22'then the historic mill town of Belper,
0:34:22 > 0:34:27'with its parks, shops, inns and restaurants, is only three and a half miles away.'
0:34:28 > 0:34:34Well, the property I'm here to see is this three-bedroom semi-detached with integral garage.
0:34:34 > 0:34:38At a guide price of £80,000, built in the 1960s,
0:34:38 > 0:34:41you can see straight away it's not going to appeal to everybody
0:34:41 > 0:34:46because it's built on this hillside and the only way in is up these steps.
0:34:46 > 0:34:50# We'll be pleased to be called
0:34:54 > 0:34:58# The folks who live on the hill
0:34:58 > 0:34:59HE PANTS
0:34:59 > 0:35:03So what does this house on a hill have to offer?
0:35:03 > 0:35:06Well, hopefully it won't be an uphill struggle for whoever buys it.
0:35:06 > 0:35:09Although, as a first impression, that's not good!
0:35:09 > 0:35:13Just above the window there, you can see that there's a lot of cracking going on.
0:35:13 > 0:35:17My guess is that's a lintel supporting the wall above it.
0:35:17 > 0:35:21I reckon that the double glazing has been replaced at some time in the not too distant past,
0:35:21 > 0:35:25and before that, the window was actually forming part of the structure.
0:35:25 > 0:35:28That hasn't really been upgraded when the windows were put in,
0:35:28 > 0:35:30and as a result, it's started to sag a bit and you get that cracking.
0:35:30 > 0:35:34Definitely need to get that sorted out. So not a good start. However,
0:35:34 > 0:35:36the moment you come into this lounge, it all changes.
0:35:36 > 0:35:40Really nice size, you've got double aspect, nice windows with a view out the front,
0:35:40 > 0:35:43great patio doors out the back to the garden.
0:35:43 > 0:35:46Interesting fireplace but at least it's a bit of a feature.
0:35:46 > 0:35:49And then through here to the kitchen.
0:35:49 > 0:35:51Now, needs a bit of tender loving care.
0:35:51 > 0:35:55Erm, it's not a bad sized space, a bit of a unusual size,
0:35:55 > 0:35:57and you might think about getting rid of that cupboard there
0:35:57 > 0:36:00and opening it out a bit to create a bit of a nicer space.
0:36:00 > 0:36:03But again, nice views onto the rear garden there.
0:36:03 > 0:36:06And I like this kind of house, the kind of house you can walk round and round in,
0:36:06 > 0:36:11because go through this door and you're out again to where you came in. Marvellous.
0:36:11 > 0:36:14# Let's go round again
0:36:15 > 0:36:18# Maybe we'll turn back the hands of time
0:36:18 > 0:36:20# Let's go around again
0:36:21 > 0:36:25# One more time
0:36:25 > 0:36:27'One of the great things about a house like this,
0:36:27 > 0:36:31'where there doesn't seem to have been much done or altered since it was originally built,
0:36:31 > 0:36:36'is that you can really go to town on it and make it your own.'
0:36:38 > 0:36:40So, upstairs, any great surprises?
0:36:40 > 0:36:44Er, no. Pretty much exactly what you might expect.
0:36:44 > 0:36:47Two good-size double bedrooms, one at the back, one at the front,
0:36:47 > 0:36:51a small box room, and the only thing to really think about, you've got a separate loo and a bathroom.
0:36:51 > 0:36:54Knock them together? Maybe, maybe not.
0:36:54 > 0:36:57A house which I think is just a really good property.
0:37:00 > 0:37:03'I know the rooms are dated and the bathroom will need upgrading,
0:37:03 > 0:37:09'but what I like about this house, that went to auction guided at £80,000,
0:37:09 > 0:37:12'is that it offers the potential to add value.
0:37:12 > 0:37:15'The new owner will need to get the wiring checked out,
0:37:15 > 0:37:19'and I've spotted some cracks in the ceiling that'll need investigating.
0:37:21 > 0:37:23'But outside there's good news.
0:37:23 > 0:37:27'This garage, for starters. Just look at it. It's huge.
0:37:27 > 0:37:31'And there's still off-road parking at the front for your car.
0:37:32 > 0:37:35'But you might not want to be driving off anywhere
0:37:35 > 0:37:38'when you could be sitting on your balcony admiring the vista.'
0:37:40 > 0:37:44Some absolutely gorgeous views out of the front of the property.
0:37:44 > 0:37:47But unfortunately, at the front and side of the house,
0:37:47 > 0:37:51there is a massive amount of these breeze blocks and lots of concrete.
0:37:51 > 0:37:54Thankfully the house redeems itself at the back,
0:37:54 > 0:37:57cos this really is the most charming garden. Come and have a look.
0:37:57 > 0:38:02Up these steps. Love all these various conifer-type trees.
0:38:02 > 0:38:04You've got primroses out, isn't that glorious?
0:38:04 > 0:38:07And you sort of think it's going to end about here,
0:38:07 > 0:38:10but it doesn't! Come on, come on.
0:38:11 > 0:38:13Through here. This is wonderful. Look at this!
0:38:13 > 0:38:15You've even got a pond, you've got a greenhouse.
0:38:15 > 0:38:19It goes all the way to the back here and then you've got open fields in the distance.
0:38:19 > 0:38:23I mean, the house is great. I'd buy this place for the garden.
0:38:23 > 0:38:25# Come into the garden, babe
0:38:25 > 0:38:27# Come on, come on in
0:38:27 > 0:38:30# Come into the secret garden
0:38:30 > 0:38:35'There's no doubt that somebody's going to love this little hillside perch.
0:38:35 > 0:38:38'And if bought for anywhere near that guide price of £80,000,
0:38:38 > 0:38:41'I really do think you'd be getting a lot for your money.
0:38:41 > 0:38:47'We asked the auctioneer who sold the property to tell us what potential he thinks there is here. '
0:38:47 > 0:38:51Built in the 1960s, it's fairly bland, it's fairly ordinary.
0:38:51 > 0:38:55But where it is is beautiful and I think you could make it into
0:38:55 > 0:38:57a very desirable home.
0:38:57 > 0:38:59'OK. But where to begin?'
0:38:59 > 0:39:03You've got to start, I think, with refitting the property first of all.
0:39:03 > 0:39:08The wiring is old, I guess the central heating system is pretty old, as well.
0:39:08 > 0:39:10But the whole house really just wants a facelift.
0:39:10 > 0:39:15'Once the property's been refurbished, how much could it be worth if sold?'
0:39:15 > 0:39:19When this property is renovated and done to a good standard,
0:39:19 > 0:39:21it would probably have a value on today's market
0:39:21 > 0:39:24of somewhere around £140,000.
0:39:24 > 0:39:27'And the potential rental income once done up?'
0:39:27 > 0:39:31This would have a rental value when it's done up
0:39:31 > 0:39:36of probably somewhere in the region of £575 to £600 per calendar month.
0:39:36 > 0:39:40A really good-sized family house with bags of potential.
0:39:40 > 0:39:44And I think for that £80,000 guide price, a great one to go for.
0:39:44 > 0:39:49It won't appeal to everybody, cos you've got the steps to the front and that steep garden to the back.
0:39:49 > 0:39:52But that view... Let's see who fancied it
0:39:52 > 0:39:55and had the energy to take it on when it went under the hammer.
0:39:56 > 0:40:00- Lot 58. - 'It was towards the end of the day,
0:40:00 > 0:40:04'but I'm sure bidders were at the ready for this prize property.'
0:40:04 > 0:40:08Start me where you will on this one. May I say 85,000 for it?
0:40:08 > 0:40:12£80,000? Into the bidding here, thank you, at 80,000.
0:40:12 > 0:40:15At £80,000. 81 somewhere? 81 is bid.
0:40:15 > 0:40:18At 81. 82 I have.
0:40:18 > 0:40:2182. 83. 83,000.
0:40:21 > 0:40:2484 is bid. 84. 85.
0:40:24 > 0:40:2685. 86.
0:40:26 > 0:40:2986. 87.
0:40:29 > 0:40:3187,000. 88.
0:40:31 > 0:40:3489. 90 on the right.
0:40:34 > 0:40:3690,000. 91.
0:40:36 > 0:40:3991,000. 92.
0:40:39 > 0:40:4293.
0:40:42 > 0:40:4493. 94.
0:40:44 > 0:40:4895. At 95,000. 96?
0:40:48 > 0:40:5096, a fresh bidder.
0:40:50 > 0:40:5396. 97.
0:40:53 > 0:40:5697. First and last?
0:40:56 > 0:40:59£97,000. It's against you at the back.
0:40:59 > 0:41:01We're selling it at 97.
0:41:01 > 0:41:04Going once. Twice. Third time.
0:41:04 > 0:41:08- HAMMER BANGS - Sold at 97,000, number 82.
0:41:09 > 0:41:14'Well, the happy buyer was Rob, who attended the auction with his sister, Sandra.
0:41:14 > 0:41:16'And no wonder they're smiling.
0:41:16 > 0:41:20'Rob had been prepared to go up to £130,000,
0:41:20 > 0:41:24'so he must be delighted that he ended up paying just £97,000.
0:41:26 > 0:41:30'Rob's an architectural technician and building surveyor by trade
0:41:30 > 0:41:34'so should be able to handle the challenge of this property.'
0:41:34 > 0:41:37- Rob, great to meet you. Congratulations.- Thank you.
0:41:37 > 0:41:42- Tell me why you wanted to buy this place.- I've recently separated from my family
0:41:42 > 0:41:45so I'm basically looking to pick up and start again.
0:41:45 > 0:41:48So this is going to be my new start in life.
0:41:48 > 0:41:53Lot of emotional trauma in the last little while, I'm sure, but on the up now with this place.
0:41:53 > 0:41:57It is, yeah. I'm looking for somewhere that I can sink my teeth into
0:41:57 > 0:42:00and my two daughters can come and help me do some work on it.
0:42:00 > 0:42:04- Why this house, then?- I need somewhere that I can live in,
0:42:04 > 0:42:07so move into while I'm doing the work, so it needs to be habitable.
0:42:07 > 0:42:12I want somewhere that's big enough to have an office, cos I'm home-based.
0:42:12 > 0:42:16It needs a second bedroom so that my daughters can come and stay with me.
0:42:16 > 0:42:21And I've got an old classic car, so I need a reasonable size garage.
0:42:21 > 0:42:23So that was one of my top priorities.
0:42:23 > 0:42:28- So it's going to have pride of place in the garage?- It is. And this is a big enough garage to get it in.
0:42:28 > 0:42:32# Well, if you let me be your mechanic
0:42:33 > 0:42:35# I can do your motor some good
0:42:38 > 0:42:40Tell me what you're going to do to sort the house out.
0:42:40 > 0:42:44Ideally, I'd like to put French doors at the front,
0:42:44 > 0:42:48so you can get the most of the views as you look out from the front.
0:42:48 > 0:42:52I'm going to remove the block work and the railing at the front of the house
0:42:52 > 0:42:54and put a more contemporary balustrade across.
0:42:54 > 0:42:59Erm, the internals, my first thought was to split the house,
0:42:59 > 0:43:02actually turn the lounge around through 90 degrees.
0:43:02 > 0:43:08I was thinking of putting up a kitchen/diner at the rear of the house
0:43:08 > 0:43:12and a full-length lounge at the front, basically taking out part of this wall,
0:43:12 > 0:43:15but I think that that's going to add some lateral restraint.
0:43:15 > 0:43:19- But I'm still considering that one. - And what about upstairs? Any plans?
0:43:19 > 0:43:25Well, upstairs, the two large bedrooms don't really need much doing to it.
0:43:25 > 0:43:29The small bedroom would be my office, so at least I've got nice views.
0:43:29 > 0:43:32The bathroom, it's got a separate WC and bathroom.
0:43:32 > 0:43:36Clearly you'd remove the stud wall so that you've got one bathroom.
0:43:36 > 0:43:39But what I do want to do is to provide an en suite up there, as well.
0:43:39 > 0:43:44I hope my daughters will come and stay, so if they've got their own bathroom off their bedroom,
0:43:44 > 0:43:48- it might encourage them a bit more. - How you going to squeeze in a bathroom en suite?
0:43:48 > 0:43:53I think the wall at the side of the bath needs to move about a foot more into the bedroom.
0:43:53 > 0:43:56You can fit a shower with a WC and a wash basin in as an en suite.
0:43:56 > 0:44:00Then you've still got your bath, wash basin and WC in the main bathroom.
0:44:01 > 0:44:05'Whatever layout Rob decides on for the ground floor,
0:44:05 > 0:44:07'he plans to do most of the work himself.
0:44:07 > 0:44:11'He's reckoning on a budget of between £10,000 and £12,000,
0:44:11 > 0:44:15'but as he'll only be able to tackle it around his full-time job,
0:44:15 > 0:44:18'he thinks it'll take him six months to get the basics done
0:44:18 > 0:44:23'and then another six months after that to finish the final fixes and the landscaping.'
0:44:24 > 0:44:29- I wish you all the best here. - Thank you.- Look forward to seeing how you get on.- Thank you.- Good luck.
0:44:31 > 0:44:34Well, it's a new start for Rob.
0:44:34 > 0:44:37I'm sure his daughters will be absolutely delighted
0:44:37 > 0:44:41with the bedroom he's building for them, and more importantly, the en suite.
0:44:41 > 0:44:45My only concern is will he spend more time in the garage
0:44:45 > 0:44:50restoring his Triumph Stag than he will the property? You can find out later in the show.
0:44:53 > 0:44:56In the property world, time is money.
0:44:56 > 0:44:59It's important to work hard and get the job done.
0:44:59 > 0:45:02So, did today's buyers finish their projects
0:45:02 > 0:45:05or was time their enemy? Let's find out.
0:45:07 > 0:45:11'We've returned to Blackwater in Cornwall.
0:45:12 > 0:45:15'It was two years and eight months ago
0:45:15 > 0:45:17'that I met Kent fireman Mark.
0:45:18 > 0:45:24'He paid £220,000 at an auction for this huge property.
0:45:24 > 0:45:28'It had three reception rooms, six bedrooms and over two acres of land
0:45:28 > 0:45:31'and fitted his bill perfectly.'
0:45:32 > 0:45:37I was looking for something that I considered to be a good value property, really.
0:45:37 > 0:45:41Also, I wanted a decent amount of space around it, I wanted a decent amount of land.
0:45:41 > 0:45:44There's plenty of room for the dogs to run round.
0:45:44 > 0:45:48- So you've got dogs. What about other animals? - Yeah, we've got four parrots,
0:45:48 > 0:45:52two giant rabbits, a normal rabbit, two chipmunks, two cats,
0:45:52 > 0:45:57erm, probably a few others if I thought about it. 16 chickens.
0:45:57 > 0:45:59'Well, with that large menagerie,
0:45:59 > 0:46:03'it was no wonder Mark was keen to take on this place.
0:46:03 > 0:46:05'As a former joiner keen for a challenge,
0:46:05 > 0:46:08'he had his work cut out for him.
0:46:08 > 0:46:11'This was going to be his family home for the long-term future
0:46:11 > 0:46:14'so there was no urgency to get it finished.
0:46:14 > 0:46:17'Two years and eight months later, we're back.
0:46:39 > 0:46:43'So, no obvious dramatic changes inside,
0:46:43 > 0:46:46'but the family have moved in, animals and all.'
0:46:46 > 0:46:49# Chick-chick-chick-chick-chicken
0:46:49 > 0:46:51# Lay a little egg for me
0:46:51 > 0:46:53# Chick-chick-chick-chick-chicken
0:46:53 > 0:46:56# I want one for my tea
0:46:56 > 0:46:59'And the reason they've not got very far with the decor?
0:46:59 > 0:47:02'Well, like many an older property,
0:47:02 > 0:47:05'there were underlying problems to address first.'
0:47:05 > 0:47:10This fireplace here used to be built right out wide, didn't it?
0:47:10 > 0:47:13- It came right out there.- Yeah. - It was all built in at the ends.
0:47:13 > 0:47:17When we removed all that, we then found there was no floor.
0:47:17 > 0:47:21So that all had to be dug out right back to the sub-base
0:47:21 > 0:47:25and then obviously damp-proofed and a new floor put in.
0:47:25 > 0:47:28We replaced all the joists, all the flooring upstairs
0:47:28 > 0:47:32and then manufactured a new set of stairs, put them in.
0:47:32 > 0:47:36- They were quite fun to get up into place, weren't they?- They were.
0:47:36 > 0:47:38So it's coming along.
0:47:38 > 0:47:43It'll take a good while yet, but there's only so much you can do in a day.
0:47:43 > 0:47:47# Relax, take it easy
0:47:47 > 0:47:50'Mark, his step-daughter Nadine and one of their several parrots
0:47:50 > 0:47:53'seem very relaxed about the whole thing.
0:47:53 > 0:47:58'Although, when they first arrived at the property, they had a big job on their hands.'
0:47:58 > 0:48:03Yeah, we've cleared all the rubbish that was over here,
0:48:03 > 0:48:08built the garage so we had somewhere to store materials and things like that.
0:48:08 > 0:48:12We actually cleared all this and managed to find the well.
0:48:12 > 0:48:14New roof's on,
0:48:14 > 0:48:17walls have all got to be rerendered and painted,
0:48:17 > 0:48:20same at the garage, so it all ties in nicely together.
0:48:20 > 0:48:24It's been a lot of work but it's been fun.
0:48:24 > 0:48:29We've got through it and we'll see how it goes from there on. Just keep going.
0:48:29 > 0:48:33# Wish me love a wishing well, kiss and tell
0:48:33 > 0:48:34# A wishing well...
0:48:34 > 0:48:39'You have to admire Mark's relaxed approach to the very daunting task ahead.'
0:48:40 > 0:48:43The biggest challenge on this is really time,
0:48:43 > 0:48:46just to try and get the work done,
0:48:46 > 0:48:49because I do like to do 90 percent of everything myself.
0:48:49 > 0:48:53The burning issue at the moment is trying to get teenage daughters' rooms done,
0:48:53 > 0:48:57because I keep getting it in my ear that they're not done yet
0:48:57 > 0:48:59and they've been waiting for so long.
0:48:59 > 0:49:01'The project may still be under construction
0:49:01 > 0:49:06'but with the new garage, new joists, floors and plastering,
0:49:06 > 0:49:09'the pounds are bound to have added up.
0:49:09 > 0:49:13'Mark's original budget for the work was £50,000.'
0:49:13 > 0:49:17We've spent, to date, approximately £55,000 on it,
0:49:17 > 0:49:20which is mainly on the roof.
0:49:20 > 0:49:25Because I do the work myself, materials-wise is all I really pay for,
0:49:25 > 0:49:30so I reckon we've got another 10 to 15 to spend to get it to where I want it.
0:49:31 > 0:49:34'With the purchase price of £220,000
0:49:34 > 0:49:37'and Mark's projected final spend here of around £70,000,
0:49:37 > 0:49:42'that brings his total investment to £290,000.
0:49:43 > 0:49:45'We invited two local property experts
0:49:45 > 0:49:49'to cast their eyes over this work in progress.'
0:49:49 > 0:49:51First impressions when you come through the doors,
0:49:51 > 0:49:55you can see the massive potential and scope that this property offers.
0:49:55 > 0:49:59The overall layout of the property at the moment does fit well.
0:49:59 > 0:50:04However, some remodelling downstairs between the kitchen and the dining room would add to its appeal.
0:50:04 > 0:50:08'I don't see Mark or his family going anywhere any time soon.
0:50:08 > 0:50:13'He bought this for the long-term and it's certainly become a labour of love for him.
0:50:13 > 0:50:17'He's also thoroughly enjoying the new lifestyle which it affords him.
0:50:18 > 0:50:21'If he were to have a change of heart, however,
0:50:21 > 0:50:26'what do the experts think he could sell the property on for once renovations are completed?'
0:50:27 > 0:50:31If the owners continue to refurbish it to the same standards they've done so far,
0:50:31 > 0:50:36then I would expect this property to fetch somewhere in the region of £350,000 to £400,000.
0:50:36 > 0:50:38Once the property has been fully renovated,
0:50:38 > 0:50:43we would look to market the property at an asking price in the region of £385,000.
0:50:43 > 0:50:46£350,000 to £400,000.
0:50:46 > 0:50:48- I'm quite pleased with that. - Yeah, that's all right.
0:50:48 > 0:50:50It's definitely an improvement.
0:50:50 > 0:50:55'With a potential pre-tax profit of between £60,000 and £110,000,
0:50:55 > 0:50:58'it's no wonder Mark's pleased to hear those figures.
0:51:00 > 0:51:04'So, do Mark and Nadine, who works at a local kennels at the weekends,
0:51:04 > 0:51:08'plan to add to their ever-growing menagerie?'
0:51:08 > 0:51:10Oh, I'm sure we can fit some more pets in.
0:51:10 > 0:51:14I do have a thought of emus or rheas at some point.
0:51:16 > 0:51:20Especially with my work. We get a lot of abandoned dogs in.
0:51:20 > 0:51:25- I could bring them home. - I think the five dogs will do. THEY LAUGH
0:51:30 > 0:51:33'Just three and a half miles from the Derbyshire town of Belper,
0:51:33 > 0:51:37'in Ambergate, right in the heart of the Derwent Valley,
0:51:37 > 0:51:43'was this house in a elevated position with great views all round.
0:51:43 > 0:51:49'It was bought for £97,000 by Rob, who was looking to make a fresh start.
0:51:50 > 0:51:54'Doing the house up for when his two daughters come to stay,
0:51:54 > 0:51:59'he planned to landscape the large garden and dispense with the piles of breeze blocks.'
0:52:00 > 0:52:03Tell me what you're going to do to sort the house out.
0:52:03 > 0:52:07Ideally I'd like to put French doors so that you can get the most of the views as you look out from the front.
0:52:07 > 0:52:15It's got a separate WC and bathroom, which clearly you'd remove the stud wall so it's one bathroom.
0:52:15 > 0:52:18But what I do want to do is provide an en suite up there, as well.
0:52:18 > 0:52:21'Rob had set a budget of £10,000 to £12,000,
0:52:21 > 0:52:25'and as he would be doing a lot of the work himself,
0:52:25 > 0:52:28'he anticipated it would take about a year to complete.
0:52:29 > 0:52:32'It's now 14 months later.
0:52:32 > 0:52:37'The house has new windows and that unruly garden has been beautifully landscaped,
0:52:37 > 0:52:40'making the very most of the wonderful views into the distance.
0:52:44 > 0:52:48'And the view from the rear bedroom's not bad, either.
0:52:50 > 0:52:54'The separate loo and bathroom have been knocked into one.
0:52:55 > 0:53:00'At the front, Rob's got an equally impressive outlook from his new office.
0:53:02 > 0:53:05'And the master bedroom.
0:53:05 > 0:53:09'Downstairs, he decided to keep the layout the same.
0:53:11 > 0:53:14'But the kitchen has been totally refitted.
0:53:14 > 0:53:19'Access from the hall has been blocked up and a new loo has been installed.
0:53:19 > 0:53:22'But what about the upstairs facilities?
0:53:22 > 0:53:26'There's no sign of the en suite he'd planned for the back bedroom.'
0:53:26 > 0:53:31I did drawings, configurations as to how I could change the bathroom and bedroom to fit it in
0:53:31 > 0:53:34and it would've worked quite nicely, but at the end of the day,
0:53:34 > 0:53:37it just made more efficient use to form a downstairs WC in there
0:53:37 > 0:53:40and leave the bathroom and the back bedroom as large as possible.
0:53:40 > 0:53:42'Well, the bathroom still needs to be completed
0:53:42 > 0:53:47'and it sounds like Rob's two daughters aren't missing the en suite at all.
0:53:47 > 0:53:50'But what do they think of the rest of the house?'
0:53:50 > 0:53:54Er, they don't say a great deal. I know they don't like the rug.
0:53:54 > 0:53:57HE LAUGHS But other than that, I think they're quite pleased with it.
0:53:57 > 0:54:01'I'm not surprised. The garden's stunning.
0:54:01 > 0:54:03'Unlike many developers we meet on the programme,
0:54:03 > 0:54:08'Rob decided not to leave the outside till last. In fact, he did it first.'
0:54:08 > 0:54:13I excavated this lower area to make a sunken patio that gets the sun all afternoon,
0:54:13 > 0:54:18and then this, what was a sunken area, I used bricks and blocks from inside the house.
0:54:19 > 0:54:22The biggest part of the project was excavating all of this area here.
0:54:22 > 0:54:27I wanted to make a seating area and then space for a conservatory, which I've bought.
0:54:27 > 0:54:31So the stonework that came from here went to fill the side excavations.
0:54:31 > 0:54:35And then I'll show you what I've done at the top of the garden.
0:54:35 > 0:54:39'We can see. Heaps! It really is impressive.'
0:54:39 > 0:54:42The garden was pretty overgrown when I first moved in here.
0:54:42 > 0:54:46The first week I moved, I bought a chainsaw and cut down 14 trees.
0:54:46 > 0:54:51I moved the fish pond from a higher level down to here, put a new shed at the top.
0:54:51 > 0:54:54Then all of the stonework that was remaining from the excavations at the bottom
0:54:54 > 0:54:56I used to level this top end of the garden.
0:54:56 > 0:55:01It catches the sun all day long. I'm very happy with it.
0:55:01 > 0:55:06'Those cracks above the front window that I was concerned about were only superficial.
0:55:06 > 0:55:08'There was a concrete lintel inside
0:55:08 > 0:55:11'and Rob's added steel lintels outside.
0:55:11 > 0:55:15'I reckon that once he gets the inside completely finished,
0:55:15 > 0:55:17'this will be a really fabulous property.
0:55:17 > 0:55:22'The varnished floorboards and the finish in the kitchen hint at what to expect.
0:55:22 > 0:55:26'But with the project taking almost 14 months so far,
0:55:26 > 0:55:31'what's happened to Rob's other love, his cherished sports car?'
0:55:31 > 0:55:34Unfortunately, I haven't touched my car.
0:55:34 > 0:55:37I start it up every day when I get in and sit in it
0:55:37 > 0:55:41and make brum-brum noises, but no, that's my next project.
0:55:41 > 0:55:43'Robert set a budget of £10,000 to £12,000.
0:55:43 > 0:55:46'So how has he faired with that?'
0:55:46 > 0:55:50I've spent £10,611.
0:55:50 > 0:55:54But that includes a conservatory for the back which I've bought,
0:55:54 > 0:55:56which I hadn't got included in the original budget.
0:55:56 > 0:55:59So I would like to think I've ended up pretty much on the nose.
0:55:59 > 0:56:03'Pretty specific with the numbers, then.
0:56:03 > 0:56:05'And with that £97,000 he paid at auction,
0:56:05 > 0:56:11'that takes his total investment to a shade over £107,600.
0:56:11 > 0:56:13'Time to get some opinions from two local property experts.
0:56:13 > 0:56:17'First, the auctioneer who saw it before any work was done.'
0:56:17 > 0:56:20I do remember it. It was a bit tired, a bit dated.
0:56:20 > 0:56:24He's refitted everything, done it with a lot of attention to detail
0:56:24 > 0:56:27and he's doing very well with it.
0:56:27 > 0:56:30I really love this property. I think it's beautifully presented,
0:56:30 > 0:56:33it sits on a delightful position, the views are stunning,
0:56:33 > 0:56:35it's a very desirable property.
0:56:36 > 0:56:41'What about the rental income here? How much income could Rob generate?'
0:56:41 > 0:56:45I would value this property for rental purposes
0:56:45 > 0:56:47at around £550 a month.
0:56:47 > 0:56:52If this house was for rent, it would have a rental value in excess of £600 per calendar month.
0:56:52 > 0:56:55I wouldn't be looking to put it on to rent, anyway.
0:56:55 > 0:57:00Maybe in 12 months time, I might be looking to sell and move onto another project.
0:57:00 > 0:57:03But, no, that sounds very good money.
0:57:03 > 0:57:06'Will the resale values go as swimmingly?
0:57:06 > 0:57:11'Could the house be worth more than the £107,600 that Rob's invested?'
0:57:11 > 0:57:14I think this house, on the open market currently,
0:57:14 > 0:57:16would have a value of around £150,000.
0:57:16 > 0:57:21I would advertise this property around the £165,000 mark
0:57:21 > 0:57:24with a view to returning about £160,000.
0:57:24 > 0:57:27'That valuation range would produce a profit
0:57:27 > 0:57:32'of between £42,400 and £57,400
0:57:32 > 0:57:35'before tax and expenses.'
0:57:35 > 0:57:38The house owes me £108,200.
0:57:38 > 0:57:41If you look at all of the fees it's cost to buy it
0:57:41 > 0:57:43and everything I've spent on it,
0:57:43 > 0:57:46less a year's worth of rent that I've saved living here,
0:57:46 > 0:57:50potentially quite a tidy profit. I'm very pleased with that.
0:57:50 > 0:57:53'With work still to finish inside and out
0:57:53 > 0:57:55'and that car down in the garage beckoning,
0:57:55 > 0:57:57'what's Rob got planned for this evening?'
0:57:59 > 0:58:01Bottles of wine tonight and we've got friends coming around.
0:58:01 > 0:58:05It's the first time that the house has been clean and tidy in 12 months
0:58:05 > 0:58:08so I've got to make the most of it quick while it's clean and tidy.
0:58:10 > 0:58:13Well, that's it from Martin and me.
0:58:13 > 0:58:17- Join us next time for more Homes Under The Hammer.- Goodbye.- Goodbye.
0:58:17 > 0:58:21Subtitles by Red Bee Media Ltd
0:58:21 > 0:58:21.