0:00:02 > 0:00:05Now, Lucy and I find the world of property absolutely absorbing
0:00:05 > 0:00:08and if you get it right, it can be quite profitable too.
0:00:08 > 0:00:12But in order to do well, you need to buy at the right price.
0:00:12 > 0:00:15One way you can do that is to visit your local property auction.
0:00:41 > 0:00:44You need to do your homework when you buy at auction and once you've
0:00:44 > 0:00:48decided it's the one for you, you could get yourself a real bargain.
0:00:48 > 0:00:52So did today's buyers get themselves some good deals?
0:00:52 > 0:00:53Here's what they bought.
0:00:55 > 0:00:57In the New Forest,
0:00:57 > 0:01:00it looks like time's up for this prefabricated bungalow.
0:01:00 > 0:01:03I don't think it's going to be here for much longer.
0:01:05 > 0:01:08While the layout of this ground floor two-bed flat in Chopwell
0:01:08 > 0:01:11is, well, in for the chop.
0:01:11 > 0:01:13Start again and plan it properly.
0:01:15 > 0:01:16And in Alvaston, Derby,
0:01:16 > 0:01:20again, something past its sell by date is about to bite the dust.
0:01:20 > 0:01:24You would demolish this, which looks just as bad from the outside as it did from the inside.
0:01:25 > 0:01:28All these properties have been sold at auction.
0:01:28 > 0:01:32We'll find out who bought them and what they paid for them when they went under the hammer.
0:01:32 > 0:01:34Congratulations, sir.
0:01:38 > 0:01:40This is Godshill in Hampshire.
0:01:46 > 0:01:49Godshill is surrounded by the New Forest National Park,
0:01:49 > 0:01:51famous for its wild ponies.
0:01:53 > 0:01:55# Wild horses
0:01:55 > 0:01:58# I want to be like you. #
0:01:58 > 0:02:01The New Forest was created by William the Conqueror
0:02:01 > 0:02:05as his hunting ground and it was made a national park in 2005.
0:02:05 > 0:02:07The property I'm here to see
0:02:07 > 0:02:10is really tucked away from the rest of the world.
0:02:10 > 0:02:13It's right at the end of this little lane.
0:02:13 > 0:02:18Incredibly off the beaten track. So a fantastic countryside location.
0:02:18 > 0:02:23The house I'm here to see is a three-bedroom detached bungalow.
0:02:23 > 0:02:25Do you know what?
0:02:25 > 0:02:29It looks more like a glorified shed or a rundown holiday chalet.
0:02:29 > 0:02:31That is really disappointing.
0:02:31 > 0:02:35And even more disappointing is that you don't get much house
0:02:35 > 0:02:37for a £300,000 guide price.
0:02:39 > 0:02:43Now, this bungalow was built post-World War II, in the 1950s,
0:02:43 > 0:02:46and it's what's called non-standard construction.
0:02:46 > 0:02:50Basically, look, it's made out of concrete and it was probably
0:02:50 > 0:02:53built as a temporary structure, not built to last.
0:02:53 > 0:02:58So you can see this hasn't been touched in many, many years.
0:02:58 > 0:03:02This room was probably the lounge. You've got the fireplace here.
0:03:02 > 0:03:06A kitchen scullery area through there.
0:03:06 > 0:03:09It's quite incredible to think that something like this
0:03:09 > 0:03:12really has lasted this long.
0:03:12 > 0:03:15I don't think it's going to be here for much longer.
0:03:18 > 0:03:22The auction catalogue suggested that this place now requires demolition.
0:03:22 > 0:03:24I have to agree!
0:03:24 > 0:03:28# I know that it's over
0:03:28 > 0:03:31# Because I'm falling down. #
0:03:31 > 0:03:34It's pretty much unmortgageable as it stands.
0:03:34 > 0:03:36The concrete walls are uninsulated
0:03:36 > 0:03:38and they are beginning to deteriorate.
0:03:38 > 0:03:40And there's an asbestos roof.
0:03:41 > 0:03:44So, would you have lost the plot if you bought this?
0:03:44 > 0:03:47No, because actually the plot is what you would gain
0:03:47 > 0:03:49after a lot of work.
0:03:49 > 0:03:52This isn't going to be a straightforward redevelopment.
0:03:52 > 0:03:55First, you have to get permission to demolish this.
0:03:55 > 0:03:57Then you have the expense of properly
0:03:57 > 0:04:00and safely disposing of that asbestos roof.
0:04:00 > 0:04:03And then you have to apply for planning permission.
0:04:03 > 0:04:06This property is actually within the boundaries
0:04:06 > 0:04:08of the New Forest National Park,
0:04:08 > 0:04:11so the planners are going to be very strict
0:04:11 > 0:04:14about what you are allowed to build here.
0:04:14 > 0:04:16Good luck, new owners!
0:04:18 > 0:04:21The plot itself is actually 0.92 acres
0:04:21 > 0:04:25and stretches beyond the trees and down into the valley.
0:04:25 > 0:04:27But those conifers block the view.
0:04:27 > 0:04:31I would want to chop them back, but that might not be so straightforward.
0:04:32 > 0:04:34There's also one more issue.
0:04:34 > 0:04:38This bungalow has some rather lovely neighbours. Badgers.
0:04:38 > 0:04:42And they have dug holes all over the site like this.
0:04:42 > 0:04:45Under the 1992 Protection of Badgers Act,
0:04:45 > 0:04:48it's a criminal offence to kill or injure any badgers
0:04:48 > 0:04:51or to even interfere with a badger sett in any way.
0:04:51 > 0:04:54Which of course is going to be a problem if you want to build here.
0:04:54 > 0:04:57You need a licence to be able to move them
0:04:57 > 0:05:01and you basically have to entice them into a new home.
0:05:01 > 0:05:05It's a slow, time-consuming and costly business.
0:05:05 > 0:05:07But I think it's worth it.
0:05:07 > 0:05:09After all, the countryside and its wildlife
0:05:09 > 0:05:12is surely one of the attractions of living here.
0:05:19 > 0:05:23Time for a second opinion from a local property expert and he agrees
0:05:23 > 0:05:27that the bungalow's date with a bulldozer has been long overdue.
0:05:27 > 0:05:30But with the lot guided at £300,000,
0:05:30 > 0:05:33what does he think you could be permitted to build here?
0:05:33 > 0:05:36I think you're going to be able to build a property
0:05:36 > 0:05:38which is about 30% larger than the floor area
0:05:38 > 0:05:41of this whole property as it is at present.
0:05:41 > 0:05:45Planning is difficult in the New Forest National Park, but it shouldn't be an issue.
0:05:45 > 0:05:49You should be able to get something, but it probably won't be more than 30%.
0:05:51 > 0:05:54And would you be allowed to build a two-storey property?
0:05:54 > 0:05:57It is stretching it to say you could have two full storeys,
0:05:57 > 0:06:00but I definitely think you can have a chalet property.
0:06:00 > 0:06:03There are a couple across the valley which you can see
0:06:03 > 0:06:07are similar to the style they like being built.
0:06:07 > 0:06:10So say you got the plot for that £300,000 guide price
0:06:10 > 0:06:14and spent 250 grand on the build, what could it sell for?
0:06:14 > 0:06:17Assuming they can build a three-bedroom house which
0:06:17 > 0:06:20is 30% larger than the floor area here already,
0:06:20 > 0:06:23I would say a price in the region of 750,000.
0:06:25 > 0:06:30Sadly, I think it's the end of the line for this old, dilapidated bungalow.
0:06:30 > 0:06:33It's time to just knock it down and start again.
0:06:33 > 0:06:36But getting the planning permission to build something new
0:06:36 > 0:06:41in a national park is bound to be a slow and laborious process.
0:06:41 > 0:06:43So who was ready to take on the challenge?
0:06:43 > 0:06:46Let's find out when we head to auction.
0:06:46 > 0:06:51We move on to lot three. Our guide here is 300,000.
0:06:51 > 0:06:54Would someone like to come straight in at 300,000?
0:06:54 > 0:06:57280 then, surely? 280.
0:06:57 > 0:07:03Yes, 280. Thank you. At 280. We will take £5,000 bids if we may then. 285.
0:07:03 > 0:07:08290. With the starter with the glasses at 290. 295.
0:07:08 > 0:07:11This was slow to start but very quickly,
0:07:11 > 0:07:14it became a real battle between two bidders.
0:07:14 > 0:07:17We rejoin the bidding at 370,000.
0:07:17 > 0:07:22370. 375. At 375. 380.
0:07:23 > 0:07:28At 382. 384. 384.
0:07:29 > 0:07:32384. At the back. 384,000.
0:07:32 > 0:07:37Standing at the back at 384.
0:07:37 > 0:07:39Congratulations. Well done, sir.
0:07:41 > 0:07:45The lucky new owners of this patch of paradise in the New Forest
0:07:45 > 0:07:48were Angela and Ian who currently live in Dorset.
0:07:48 > 0:07:52Ian is a joiner and carpenter, running a small building business,
0:07:52 > 0:07:55and Angela works as a local government officer.
0:07:57 > 0:08:00# Feels like heaven. #
0:08:03 > 0:08:06So why were they so keen to buy this particular lot?
0:08:06 > 0:08:09I met up with them back at the new property to find out.
0:08:09 > 0:08:12Congratulations. This is fantastic news.
0:08:12 > 0:08:15What's the background story behind you buying this?
0:08:15 > 0:08:20We had sold our house and we have been looking for something nice, a project to do for ourselves,
0:08:20 > 0:08:24settle down and eventually stop work and retire one day.
0:08:24 > 0:08:28Angela, what is it about this site and this house, shall I call it,
0:08:28 > 0:08:31that you loved enough to want to bid for it on that day?
0:08:31 > 0:08:36It's just so peaceful and quiet and it's just everything we want.
0:08:36 > 0:08:39We want to be just quiet and...
0:08:39 > 0:08:41On our own.
0:08:41 > 0:08:44You are certainly on your own here, I have to say!
0:08:44 > 0:08:48Angela, I have to be honest, the thing that does strike me about this plot,
0:08:48 > 0:08:51it's quiet and I'm sure it's beautiful,
0:08:51 > 0:08:54but at the moment you can't see the beauty.
0:08:54 > 0:08:56You cannot see what's beyond all these trees.
0:08:56 > 0:08:58What are you going to do to open this place up?
0:08:58 > 0:09:03What we hope to do is take some of these conifer trees down,
0:09:03 > 0:09:06which are not native to the New Forest,
0:09:06 > 0:09:10and that will open it all up, and replace them with some more trees
0:09:10 > 0:09:13that will be native, or fruit trees, things like that.
0:09:13 > 0:09:17Ian, something that I've noticed, there are loads and loads of badger holes.
0:09:17 > 0:09:20- Are you going to have a bit of a problem with that?- Hopefully not.
0:09:20 > 0:09:24We looked into it and we had an ecologist who came in
0:09:24 > 0:09:27and looked at it before we went to the auction.
0:09:27 > 0:09:31You have to apply for a proper licence when you get planning permission
0:09:31 > 0:09:35and they move them by gating the holes over and making a new den.
0:09:35 > 0:09:40They encourage them in with peanut butter and stuff like that, apparently.
0:09:40 > 0:09:44If they go in there and they get them to live in their new domain,
0:09:44 > 0:09:49they have to wait 21 days and if they go back and try to go back into where they were,
0:09:49 > 0:09:51they've got to do the whole process over again.
0:09:51 > 0:09:54It's got to be done between April and November.
0:09:54 > 0:09:58- If it's not done by this November, we will have to leave it until next April.- Gosh!
0:09:58 > 0:10:04So, it is so absolutely crucial that you get the badgers sorted out.
0:10:04 > 0:10:08Well, so far we have concentrated on the surroundings,
0:10:08 > 0:10:10but what are their plans for the bungalow?
0:10:10 > 0:10:14Subject to planning, we're going to pull it down and hopefully we would
0:10:14 > 0:10:17like to build a green oak building all in New Forest oak,
0:10:17 > 0:10:21plenty of glass because there are nice southerly facing views and things.
0:10:21 > 0:10:24It will all depend on the planners, really.
0:10:24 > 0:10:28I love the plan but this plot is on the edge of the National Park.
0:10:28 > 0:10:31Planning permission might not be guaranteed.
0:10:31 > 0:10:33But Angela has the answer.
0:10:33 > 0:10:35I'm going to send Ian in and he's going to charm them!
0:10:35 > 0:10:38Ian, how are you planning on charming these guys?
0:10:38 > 0:10:42I've already been over and I spoke to two planning officers.
0:10:42 > 0:10:45Basically, what we are talking about was fairly acceptable.
0:10:45 > 0:10:48They will be looking for something that will fit in with the landscape
0:10:48 > 0:10:52and that's why we want to use green oak and oak from the New Forest.
0:10:52 > 0:10:57Reclaim clay tiles, things like that. Hopefully, I think they will be OK.
0:10:57 > 0:11:00We would love a lovely big house but we're not going to get it.
0:11:00 > 0:11:03I think we have accepted if we can get a three-bedroom
0:11:03 > 0:11:06modest but done very nicely, that is what we are after.
0:11:06 > 0:11:10It sounds like this is going to be a fabulous house on a fantastic plot
0:11:10 > 0:11:13and it's also going to be a labour of love as Ian,
0:11:13 > 0:11:17who is a joiner, is going to be building lots of the house himself.
0:11:17 > 0:11:22- So how long have you been a joiner? - Since I was 15.- Really?- Yes. I'm 63.
0:11:22 > 0:11:26- Is he pretty good at it? - He's had a lot of practice!
0:11:26 > 0:11:27Have you got any cost implications?
0:11:27 > 0:11:30How much is something like this going to cost you?
0:11:30 > 0:11:33A couple of hundred thousand maybe, I don't know. We will see.
0:11:33 > 0:11:35- I think it will probably be more. - How much do you think?
0:11:35 > 0:11:39- Come on, how much do you think? - I think it will be more like 250.
0:11:39 > 0:11:42- And you are thinking you can do it for two?- Plus the landscaping.
0:11:42 > 0:11:45And that's not even the interior design!
0:11:45 > 0:11:49- That is not even the kitchen! - No, I'll build that.
0:11:49 > 0:11:52This all sounds like it could be a dream for Angela and Ian,
0:11:52 > 0:11:56but with badgers to charm with peanut butter and planners to please,
0:11:56 > 0:12:00it could also be a bit of a nightmare getting there.
0:12:00 > 0:12:05How long is it going to take you to have that beautiful green oak house standing here?
0:12:05 > 0:12:10Subject to planners, I think it will take maybe a year and a half to do the whole lot.
0:12:10 > 0:12:12Ian, you've got a lot of sweet talking to do.
0:12:12 > 0:12:15I am so excited to find out what happens with this story.
0:12:15 > 0:12:18It's been delightful meeting both of you today
0:12:18 > 0:12:22- and I can't wait to see what you do here.- Thank you.
0:12:22 > 0:12:24How exciting!
0:12:24 > 0:12:27Angela and Ian want to build their forever home here,
0:12:27 > 0:12:29a place to live out the rest of their lives.
0:12:29 > 0:12:32And I can't think of a better spot to settle in. It's beautiful.
0:12:32 > 0:12:35But they still have to go through the planning process
0:12:35 > 0:12:38and they might not be able to build what they want here.
0:12:38 > 0:12:41We'll find out if they were successful later on in the programme.
0:12:46 > 0:12:51And from the great expanses of the New Forest to Chopwell,
0:12:51 > 0:12:55just west of Newcastle, which also boasts its very own woodlands.
0:12:55 > 0:12:58# Chop, chop, chop, you can hear him singing
0:12:58 > 0:13:01# Chop, chop, chop as his axe is swinging
0:13:01 > 0:13:04# Chop, chop, chop through the woods it's ringing. #
0:13:04 > 0:13:08But the property I'm going to see is hardly a rural retreat.
0:13:08 > 0:13:12Well, it's not exactly an ideal location.
0:13:12 > 0:13:16Situated on this fairly busy main road and a hill,
0:13:16 > 0:13:19so the sound of the traffic is quite bad.
0:13:19 > 0:13:23But the property I'm here to see sounds interesting enough.
0:13:23 > 0:13:27A two-bedroom ground floor flat. It had a guide price of £10,000 plus.
0:13:27 > 0:13:31A bit of a weird frontage. But let's see what it's like inside.
0:13:34 > 0:13:37Good-sized room though once you get inside.
0:13:37 > 0:13:41The first thing you want to invest in though, without doubt,
0:13:41 > 0:13:45is double glazing because that noise is pretty intense.
0:13:45 > 0:13:48But laid out as a living room at the moment.
0:13:48 > 0:13:51Then stud partition walls dividing off... Let's find out.
0:13:52 > 0:13:57Ah! Yes, I imagine this is one of the two bedrooms
0:13:57 > 0:14:00and again the location is pretty poor.
0:14:00 > 0:14:02Right on the main road.
0:14:02 > 0:14:05If you were sleeping in here, that would be a real problem.
0:14:05 > 0:14:07So again, double or even triple glazing.
0:14:07 > 0:14:10Or you could think a little bit more laterally,
0:14:10 > 0:14:13and take out that stud partition to create a really nice
0:14:13 > 0:14:17open plan space, which could potentially be like a kitchen living area.
0:14:17 > 0:14:19Let's explore further before we decide.
0:14:21 > 0:14:24Now, in its former life this was a commercial property,
0:14:24 > 0:14:26hence all the windows.
0:14:26 > 0:14:28But if it's going to be a flat,
0:14:28 > 0:14:31that facade might just be a bit of a pain.
0:14:31 > 0:14:32Do you really need all that glass?
0:14:34 > 0:14:38As you progress further into the property, up these little stairs,
0:14:38 > 0:14:41you start to get this overwhelming feeling
0:14:41 > 0:14:44that the layout just isn't working.
0:14:44 > 0:14:49Bathroom there, but no loo. That needs a complete rework.
0:14:49 > 0:14:54Through that way to the kitchen. But then into the second bedroom.
0:14:54 > 0:14:56It's not so much a bedroom, well it is a bedroom,
0:14:56 > 0:15:00but it's also an exit to the rear of the property, so you've got a door there.
0:15:00 > 0:15:02So that doesn't work.
0:15:02 > 0:15:06Part of me is saying, just take out every single wall, at least the ones that aren't supporting,
0:15:06 > 0:15:09and start again and plan it properly.
0:15:11 > 0:15:14Now, if your plan is to go back to commercial use here,
0:15:14 > 0:15:17you can forgive the peculiar layout
0:15:17 > 0:15:21and out that back door, there is a shared yard of sorts.
0:15:24 > 0:15:27But as a flat, this really isn't working for me.
0:15:28 > 0:15:30Well, yet more corridors
0:15:30 > 0:15:34heading down to the rear of the property, to the kitchen.
0:15:34 > 0:15:37This isn't where you want it to be, is it?
0:15:37 > 0:15:40It's cramped, it's in the wrong place. There's a loo.
0:15:40 > 0:15:43That's where the loo is, right off the kitchen.
0:15:43 > 0:15:44It's all just gone horribly wrong.
0:15:44 > 0:15:47As I said, rip out all the walls, start again.
0:15:47 > 0:15:50I think make this bit here the bedroom,
0:15:50 > 0:15:52or the second bedroom, keep that as a bedroom.
0:15:52 > 0:15:54Don't worry about the back door, just put a curtain over it.
0:15:54 > 0:15:57The front of the property then becomes your main living space.
0:15:57 > 0:15:59It means the bedroom's in the quieter part of the house,
0:15:59 > 0:16:00that bit there,
0:16:00 > 0:16:03you're not so bothered about a bit of noise from the road.
0:16:03 > 0:16:06You have that as a big, open-plan kitchen living area
0:16:06 > 0:16:10and job done. Bit of expense, but worth every penny.
0:16:12 > 0:16:14So some lateral thinking required,
0:16:14 > 0:16:17but a re-jig of the layout here needn't cost the earth
0:16:17 > 0:16:22and we mustn't lose sight of that £10,000 guide price.
0:16:22 > 0:16:25We asked along a local estate agent to give us her thoughts.
0:16:27 > 0:16:29The property is spacious for a two-bedroom flat,
0:16:29 > 0:16:31but also for the area,
0:16:31 > 0:16:35a lot of properties in this price bracket are terraced houses
0:16:35 > 0:16:36and those are quite often smaller
0:16:36 > 0:16:39than the accommodation this flat offers.
0:16:39 > 0:16:41But if the layout of the flat were to be re-jigged
0:16:41 > 0:16:44and it gets the make-over it deserves,
0:16:44 > 0:16:47what could the property fetch on the resale market?
0:16:47 > 0:16:51If the property was remodelled to maximise the space in the property,
0:16:51 > 0:16:55I feel the property can achieve between £25,000 and £35,000.
0:16:55 > 0:16:58And what about the rental market?
0:16:58 > 0:17:01The rental market in this area is buoyant and I feel the property
0:17:01 > 0:17:05could achieve somewhere between £300 and £325 per calendar month.
0:17:07 > 0:17:10Hmm, buy this one at the guide price of ten grand,
0:17:10 > 0:17:14spend another five on it, rent it out for £325 a month,
0:17:14 > 0:17:17you're looking at a 25% yield, give or take.
0:17:18 > 0:17:21Let's see who was tempted by this one at the auction.
0:17:25 > 0:17:27Lot number 13,
0:17:27 > 0:17:29we've got a two-bedroom, ground-floor flat.
0:17:29 > 0:17:31£5,000, anyone?
0:17:31 > 0:17:34Got to be somebody. £5,000?
0:17:34 > 0:17:37Right-hand side, £5,000 bid.
0:17:37 > 0:17:38Do I have 6,000 anywhere else?
0:17:38 > 0:17:40Six on the back wall. Seven.
0:17:41 > 0:17:427,000 on the left.
0:17:42 > 0:17:44Eight.
0:17:44 > 0:17:45Eight bid. Nine.
0:17:45 > 0:17:479,000, 9,000 bid.
0:17:47 > 0:17:49I'll take 500 if it'll help.
0:17:49 > 0:17:519,500 on the right.
0:17:51 > 0:17:54Do I have 10,000 anywhere else? You're both out at the back.
0:17:54 > 0:17:56I'll take 250 if it'll help.
0:17:56 > 0:17:58No? I'm here and I'm wanting to sell.
0:17:59 > 0:18:01Two and a half.
0:18:01 > 0:18:02Two and a half.
0:18:02 > 0:18:03Two and a half bid.
0:18:03 > 0:18:0510,250.
0:18:05 > 0:18:0610,250 bid.
0:18:06 > 0:18:07Ten and a half.
0:18:07 > 0:18:09Definitely not.
0:18:09 > 0:18:11I'm on the right-hand side at 10,250.
0:18:11 > 0:18:16You're both out. I'm selling at 10,250 on the right. I'm going once.
0:18:16 > 0:18:18I'm going for the second and final time.
0:18:18 > 0:18:21£10,250.
0:18:21 > 0:18:23Sold, gentleman on the right-hand side.
0:18:23 > 0:18:27And squashed behind our tripod in the packed auction room
0:18:27 > 0:18:29was the successful buyer, Gordon,
0:18:29 > 0:18:35snapping this one up for £10,250. Gordon has worked as an electrician.
0:18:35 > 0:18:37MUSIC: "Electric Avenue" by Eddy Grant
0:18:37 > 0:18:39He's also worked as an IT professional
0:18:39 > 0:18:41and is something of a self-builder.
0:18:44 > 0:18:48I met him back at the property to find out his plans.
0:18:48 > 0:18:50Gordon, good to meet you.
0:18:50 > 0:18:52- Pleased to meet you.- Congratulations.
0:18:52 > 0:18:55Tell me why you wanted to buy this, then.
0:18:55 > 0:18:58Erm, well, on the day of the auction,
0:18:58 > 0:19:00me and my pal went along just out of curiosity,
0:19:00 > 0:19:02never been to an auction before,
0:19:02 > 0:19:05so I thought it would be interesting to see what kind of people
0:19:05 > 0:19:07buy properties at auction.
0:19:07 > 0:19:11Basically, I bought this on impulse because it was such a low price,
0:19:11 > 0:19:13I thought, "Well, what's the worst that can happen?"
0:19:13 > 0:19:16Well, you lose all your money is probably the worst that can happen.
0:19:16 > 0:19:17Yeah, it's still a lot of money,
0:19:17 > 0:19:22but £10,000, people spend that on a small family car.
0:19:22 > 0:19:27I thought, "Well, surely at £10,000 I can make some money on this."
0:19:27 > 0:19:29Right.
0:19:29 > 0:19:32- That's the idea! We'll see. - Fair enough.
0:19:32 > 0:19:35- But you hadn't seen it? - I hadn't seen it.
0:19:35 > 0:19:37The reserve was £10,000.
0:19:37 > 0:19:39Quickly looked at my brochure
0:19:39 > 0:19:42and the immediate thing I saw was the windows at the front -
0:19:42 > 0:19:45basically no kerb appeal, really poor kerb appeal and I thought,
0:19:45 > 0:19:50"Well, I can do something with that", so before I knew it, I was bidding.
0:19:50 > 0:19:52- So do you have a partner at home? - Yeah, my wife.
0:19:52 > 0:19:55So when you strolled in that night,
0:19:55 > 0:19:59- how did you tell the story? - I actually texted her to say...
0:19:59 > 0:20:02Cos she knew I went to the auction,
0:20:02 > 0:20:05and I just texted her and said, "When I come home, you better be sat down."
0:20:06 > 0:20:09And she replied, "What have you done?"
0:20:09 > 0:20:12I said, "I've bought a flat in Chopwell",
0:20:12 > 0:20:15and I'd never even heard of Chopwell.
0:20:15 > 0:20:18I've only been here once before for ten minutes,
0:20:18 > 0:20:20- the day before yesterday.- Right!
0:20:20 > 0:20:23It's a nice little village. It seems all right.
0:20:23 > 0:20:25So presumably you hadn't read the legal pack.
0:20:25 > 0:20:29No. I found out since that no-one really reads the legal pack.
0:20:29 > 0:20:30That's rubbish!
0:20:30 > 0:20:32Everybody needs to read the legal pack
0:20:32 > 0:20:35and the solicitor should look through it as well.
0:20:35 > 0:20:36Yeah, but in reality,
0:20:36 > 0:20:39- nobody reads the legal pack. - That's not true!
0:20:39 > 0:20:41- Isn't it?- No, absolutely rubbish!
0:20:42 > 0:20:44I will argue till the cows come home on this point.
0:20:44 > 0:20:46People need to read the legal pack!
0:20:46 > 0:20:48- When I got home, I looked at the legal pack.- Oh, good.
0:20:48 > 0:20:51And I also did some research,
0:20:51 > 0:20:54the kind of things you should do before you go to an auction,
0:20:54 > 0:20:56which I'd recommend to everybody.
0:20:56 > 0:21:01But in my particular case, I think I've got a good buy.
0:21:01 > 0:21:03- I think you have.- Yeah.
0:21:03 > 0:21:07So are you as spur of the moment in other aspects of your life?
0:21:07 > 0:21:09- I think that, yeah.- Are you?
0:21:09 > 0:21:12Yeah, everybody should have risk in their lives,
0:21:12 > 0:21:13high-medium risk.
0:21:13 > 0:21:15You should always be doing something
0:21:15 > 0:21:20and I think this is a medium-risk venture.
0:21:20 > 0:21:22High... Not high risk. High to medium.
0:21:23 > 0:21:27OK, so Gordon might not have had to sink his entire life savings
0:21:27 > 0:21:29into buying this property,
0:21:29 > 0:21:32but there was certainly risk involved in buying blind
0:21:32 > 0:21:35and I'd say a high degree of risk, rather than medium.
0:21:36 > 0:21:40Do not try this buying blind business at home, please.
0:21:40 > 0:21:42MUSIC: "Open Your Eyes" by Snow Patrol
0:21:42 > 0:21:47# Tell me that you'll open your eyes
0:21:49 > 0:21:55# Tell me that you'll open your eyes... #
0:21:56 > 0:21:59You've got the place now. What are your plans for it?
0:21:59 > 0:22:01There's three main things with this property.
0:22:01 > 0:22:03The front I'm going to change completely,
0:22:03 > 0:22:07so it's got two normal-sized windows and a normal-sized door
0:22:07 > 0:22:10and double-glazed to take away the road noise.
0:22:10 > 0:22:12There's the door in the bedroom, the second bedroom,
0:22:12 > 0:22:14which must come out and a window must go in,
0:22:14 > 0:22:17and then there's a toilet in the kitchen,
0:22:17 > 0:22:21so my plan is to put a back door in the kitchen, where it belongs,
0:22:21 > 0:22:24put the toilet back in the bathroom, where it belongs,
0:22:24 > 0:22:26and change the front of the property.
0:22:26 > 0:22:28They're my main, fundamental things
0:22:28 > 0:22:30that have to be done before I do anything else.
0:22:32 > 0:22:35Gordon is not intent on splashing the cash.
0:22:35 > 0:22:38In fact, he plans to spend £3,000 on renovations.
0:22:38 > 0:22:42That would take his total spend here to 15 grand.
0:22:42 > 0:22:47That's right - flat, fees and refurbishment, all for £15,000.
0:22:47 > 0:22:48So will he be doing some of the work?
0:22:50 > 0:22:52- I will do all of the work.- Will you?
0:22:52 > 0:22:55The only thing that I won't do and don't do
0:22:55 > 0:22:56is the plastering, skimming.
0:22:56 > 0:22:59I've never mastered that skill.
0:22:59 > 0:23:02And things like fitting kitchens, no problem? Redoing bathrooms?
0:23:02 > 0:23:03Yeah, that's all straightforward.
0:23:03 > 0:23:06What's next on the agenda after this, then?
0:23:06 > 0:23:08- I'm in the middle of a self-build at the moment.- Right.
0:23:08 > 0:23:12Obviously, me buying this hasn't went down too well with my wife,
0:23:12 > 0:23:16but I've assured her I'm only coming away for the month.
0:23:18 > 0:23:19Is she living in a caravan in the garden?
0:23:19 > 0:23:21- Oh, no, we're living in the house. - Oh, good.
0:23:21 > 0:23:24- It's in a decent state now.- Right.
0:23:24 > 0:23:27So my plan is to continue my self-build and, potentially,
0:23:27 > 0:23:29look for another piece of land
0:23:29 > 0:23:31and build another house.
0:23:31 > 0:23:34Right. Well, listen, it really is lovely to meet you.
0:23:34 > 0:23:38- Fascinating story.- Thank you. - Definitely gave me a giggle.
0:23:38 > 0:23:40- Good luck with it.- Thank you.
0:23:40 > 0:23:43- I might need it.- Look forward to seeing how you get on.
0:23:45 > 0:23:48So Gordon breaking absolutely all the rules
0:23:48 > 0:23:50and with a very interesting attitude to life.
0:23:50 > 0:23:52In some ways, quite refreshing, I guess,
0:23:52 > 0:23:54but you must read the legal pack! Don't listen to him.
0:23:54 > 0:23:57Anyway, how's he going to get on sorting this place out
0:23:57 > 0:23:59with that tiny budget?
0:23:59 > 0:24:01You can find out later in the show.
0:24:02 > 0:24:06Coming up, in Derby, is there something shocking to contend with?
0:24:06 > 0:24:09Clearly, we're going to have to factor in
0:24:09 > 0:24:10a total rewire into our budget.
0:24:12 > 0:24:14And in Chopwell, Tyne and Wear,
0:24:14 > 0:24:18it sounds like Gordon was the bright spark this place needed.
0:24:18 > 0:24:22I used to be an electrician, so electrical work was easy for me.
0:24:26 > 0:24:27We now head back to Hampshire
0:24:27 > 0:24:30and the beautiful New Forest National Park.
0:24:30 > 0:24:33We were there in the village of Godshill
0:24:33 > 0:24:37to see a prefabricated concrete three-bed bungalow,
0:24:37 > 0:24:38built in the 1950s.
0:24:38 > 0:24:42Rundown and decaying, time wasn't on this bungalow's side.
0:24:42 > 0:24:47It was bought for 384,000 by Ian, a joiner,
0:24:47 > 0:24:50and his wife Angela, a local government officer,
0:24:50 > 0:24:53who planned to demolish the derelict prefab
0:24:53 > 0:24:55and build a new home for themselves.
0:24:55 > 0:24:58First of all, though, they would need planning permission
0:24:58 > 0:25:00from the New Forest National Park,
0:25:00 > 0:25:03something that's not always a certainty.
0:25:03 > 0:25:05I'm going to send Ian in, he's going to charm them.
0:25:05 > 0:25:08So, Ian, how are you planning on charming these guys?
0:25:08 > 0:25:09I've already been over.
0:25:09 > 0:25:11I've been over and spoke to two planning officers,
0:25:11 > 0:25:14and, basically, what we're talking about
0:25:14 > 0:25:15was fairly acceptable.
0:25:15 > 0:25:17They'll be looking for something
0:25:17 > 0:25:18that's going to fit in with the landscape
0:25:18 > 0:25:23and that's why we want to use green oak and oak from the New Forest.
0:25:23 > 0:25:25Ian would also have to use his charms
0:25:25 > 0:25:28to move on a set of badgers that also lived on the plot.
0:25:28 > 0:25:33Protected under law, relocating them could potentially delay the build.
0:25:33 > 0:25:36With a possible budget of up to 250,000
0:25:36 > 0:25:38and a timescale of a year and a half,
0:25:38 > 0:25:42this was going to be a project well worth watching out for.
0:25:42 > 0:25:45But it was four years later when we returned to see
0:25:45 > 0:25:48how they'd got on and the result, oh, well,
0:25:48 > 0:25:50it was simply worth the wait.
0:26:14 > 0:26:18This beautiful oak-framed house is stunning from the outside,
0:26:18 > 0:26:21but wait until you see inside!
0:26:21 > 0:26:26A huge hallway complete with an amazing glass-gabled atrium,
0:26:26 > 0:26:30which leads onto a massive open-plan space,
0:26:30 > 0:26:32complete with the kitchen at one end.
0:26:37 > 0:26:42There's a dining area and at the far end, the lounge.
0:26:44 > 0:26:47Everywhere you look, the warm tones of the oak timber give the house
0:26:47 > 0:26:52character and style and all created by Ian and his workmate, Ollie.
0:26:53 > 0:26:57We've put a lot of thought into all the detail - handles,
0:26:57 > 0:27:00door furniture, window stays and stuff like that.
0:27:00 > 0:27:03All the kitchen and stuff has all been hand-built by us.
0:27:03 > 0:27:06All the doors inside and out, they've all been made by us.
0:27:06 > 0:27:10A lot of job satisfaction in the whole place, really.
0:27:10 > 0:27:12In fact, one of the few things in the house Ian didn't build
0:27:12 > 0:27:14was the staircase.
0:27:14 > 0:27:18However, he and Ollie built the amazing oak frame.
0:27:18 > 0:27:19Yep, this part of the house
0:27:19 > 0:27:22is probably my favourite part of the house.
0:27:22 > 0:27:25I think the design of it, with all the oak and the glass,
0:27:25 > 0:27:27the vaulted ceilings,
0:27:27 > 0:27:30and the biggest challenge here was putting this glass in.
0:27:30 > 0:27:33I think the biggest one's about 14 feet.
0:27:33 > 0:27:36Extremely heavy, expensive, and we never broke any,
0:27:36 > 0:27:38which was most important.
0:27:38 > 0:27:41So I think, all in all, it's turned out really lovely.
0:27:43 > 0:27:47And those stairs lead to a spacious landing with three bedrooms.
0:27:47 > 0:27:51There's a bathroom at one end with a shower room at the other.
0:27:55 > 0:27:57A huge master bedroom
0:27:57 > 0:28:00and two smaller rooms complete the line-up.
0:28:01 > 0:28:03And like the ground floor,
0:28:03 > 0:28:06everything here is beautifully finished in oak.
0:28:06 > 0:28:09There's about 20 oak trees gone into this house
0:28:09 > 0:28:12for all the oak framing and stuff, which is a colossal amount of wood
0:28:12 > 0:28:15and we got a traditional oak-framed house
0:28:15 > 0:28:17like they built hundreds of years ago
0:28:17 > 0:28:20and hopefully it'll be here in hundreds of years' time.
0:28:20 > 0:28:22But it's not just about this wonderful house.
0:28:22 > 0:28:23Step onto the balcony
0:28:23 > 0:28:27and look what the couple have decided to add to their new home -
0:28:27 > 0:28:29an amazing swimming pool.
0:28:29 > 0:28:30Glorious.
0:28:30 > 0:28:32But even after all this time,
0:28:32 > 0:28:35the couple won't be getting their swimming cossies out just yet.
0:28:35 > 0:28:39We hope to move in in probably about a fortnight's time.
0:28:39 > 0:28:41We don't want to move in till everything's done,
0:28:41 > 0:28:44cos we know that once we move in, we won't finish,
0:28:44 > 0:28:46so we want to get everything finished before we move in.
0:28:46 > 0:28:49There had been concerns about the planning constraints
0:28:49 > 0:28:52and how they would impact on the size of the house,
0:28:52 > 0:28:53both inside and out,
0:28:53 > 0:28:56but some clever design and landscaping worked a charm.
0:28:56 > 0:28:58It may look taller,
0:28:58 > 0:29:02but the hillside has been excavated and dropped by 2m,
0:29:02 > 0:29:04so despite being a two-storey house,
0:29:04 > 0:29:07the roof line is exactly the same height as the original bungalow,
0:29:07 > 0:29:09while the footprint of the house
0:29:09 > 0:29:13is only a third larger than the bungalow's dimensions.
0:29:13 > 0:29:15- Feels bigger.- Feels bigger, yeah, cos I suppose it's open plan,
0:29:15 > 0:29:18so it feels bigger and it feels spacious.
0:29:18 > 0:29:22More so than what we kind of expected, I suppose, really.
0:29:22 > 0:29:26As the couple was granted permission to remove several conifers,
0:29:26 > 0:29:30they now have plenty of space on their newly-landscaped gardens
0:29:30 > 0:29:34and with the added bonus of incredible views of the New Forest.
0:29:34 > 0:29:38Native species such as oak and birch have been replanted
0:29:38 > 0:29:41and there's also a wood shed and a garage,
0:29:41 > 0:29:44but what's happened to those badgers?
0:29:44 > 0:29:46The badger sett, we couldn't move it
0:29:46 > 0:29:49until we got planning permission, then we had to get a licence,
0:29:49 > 0:29:51and then we built a new badger sett
0:29:51 > 0:29:53and there is basically three big boxes
0:29:53 > 0:29:58- full of hay.- Oak. Oak-framed. - Oak boxes, yeah!
0:29:58 > 0:30:00That's what we did and something's down there -
0:30:00 > 0:30:03there's a lot of scratching and stuff going on,
0:30:03 > 0:30:05so we presume they're happy in their new house.
0:30:05 > 0:30:09It's good to see that everyone on the plot will live in comfort,
0:30:09 > 0:30:12but it's been a tortuous process getting there.
0:30:12 > 0:30:14Planning took a year to complete
0:30:14 > 0:30:17and re-siting the badger sett took another year.
0:30:17 > 0:30:19With Ian and Ollie busy on other projects,
0:30:19 > 0:30:22work on the house started 12 months ago.
0:30:22 > 0:30:25Happily, the end is now in sight,
0:30:25 > 0:30:28but, unfortunately, so were their finances.
0:30:28 > 0:30:33- We've spent more than 250,000. - Yeah, we have.- Definitely.
0:30:33 > 0:30:36I think we've spent more than 100 over our budget.
0:30:36 > 0:30:38So we won't be retiring any time soon.
0:30:40 > 0:30:45Building their dream home has cost Ian and Angela a possible 350,000.
0:30:45 > 0:30:49With their purchase price of £384,000,
0:30:49 > 0:30:54their total outlay could be 734,000.
0:30:54 > 0:30:55I think it's well worth it,
0:30:55 > 0:30:58but what do two local agents think,
0:30:58 > 0:31:02starting with the one who first saw the original bungalow?
0:31:02 > 0:31:04It's just absolutely fabulous.
0:31:04 > 0:31:07It really is, this is what you want to come back and see.
0:31:07 > 0:31:12Particularly with all the oak that they've put forward, and the glass,
0:31:12 > 0:31:14one - it sits well within the plot,
0:31:14 > 0:31:17but it also, against the backdrop of that scenery, it's just...
0:31:17 > 0:31:18Yeah.
0:31:18 > 0:31:20I think the property's beautifully finished,
0:31:20 > 0:31:23the position is absolutely fantastic, just on the edge of the New Forest,
0:31:23 > 0:31:26the owners have put in a lot of love to this property
0:31:26 > 0:31:29and the standard of finish is absolutely first-class.
0:31:29 > 0:31:33The quality of the wood, the kitchen and the bathrooms are second to none.
0:31:35 > 0:31:37But despite being a labour of love,
0:31:37 > 0:31:39if Ian and Angela ever decided to sell,
0:31:39 > 0:31:43what sort of profit could they get from their £734,000 spend?
0:31:43 > 0:31:45In the current market,
0:31:45 > 0:31:49I would like to think that this would achieve early to mid-900,000s.
0:31:49 > 0:31:51If I put the property on the market today,
0:31:51 > 0:31:53I'd put it on the market for £1 million.
0:31:53 > 0:31:55I think it's well worth that.
0:31:55 > 0:31:58That's the way I feel about it. I think it's well worth that.
0:31:58 > 0:32:01Not that it matters to us, cos it's our home.
0:32:01 > 0:32:05- If it had been 600, it wouldn't have mattered.- No.- It's our home.
0:32:05 > 0:32:07You can't really put a value on this house.
0:32:07 > 0:32:12It's been a labour of love and it's a testament to Ian's dedication,
0:32:12 > 0:32:17but that top value of £1 million would give them a profit of 266,000,
0:32:17 > 0:32:19minus taxes and fees.
0:32:21 > 0:32:25But having put all their finances into this dream home,
0:32:25 > 0:32:28will Ian be hanging up his joiner's belt and lounging by the pool?
0:32:29 > 0:32:31I think if I did retire,
0:32:31 > 0:32:33I'd be totally bored.
0:32:33 > 0:32:35I enjoy doing my woodwork, been doing it for over 50 years
0:32:35 > 0:32:39and it's part of me and why throw away a lovely skill?
0:32:41 > 0:32:45- So, no, we won't be doing that.- And I like him at work. He's out the way.
0:32:49 > 0:32:52This is Alvaston, three miles south of Derby.
0:32:52 > 0:32:54It's a suburb of the city centre nowadays,
0:32:54 > 0:32:58but once upon a time, Alvaston was a village in its own right
0:32:58 > 0:33:01and because of that, it still has a heart of its own.
0:33:01 > 0:33:05There are plenty of amenities for the rising population here.
0:33:05 > 0:33:12So what was on offer at the auction with a guide price of £75,000 plus?
0:33:12 > 0:33:14Well, a three-bedroom semi-detached.
0:33:14 > 0:33:16It actually looks OK from the outside,
0:33:16 > 0:33:18although one thing I've spotted straightaway -
0:33:18 > 0:33:21it doesn't have a pavement. Not ideal.
0:33:23 > 0:33:25What's more, it is a bit of a busy road.
0:33:27 > 0:33:30Luckily, there's off-street parking to the side.
0:33:30 > 0:33:35The brickwork and pointing look surprisingly good, as do the tiles.
0:33:36 > 0:33:40The garden, well, that needs a bit of a tidy.
0:33:40 > 0:33:43Nice you've got that little porch out there.
0:33:43 > 0:33:44Keep the draught out.
0:33:44 > 0:33:47Stairs up to your bedrooms there and then through into the lounge
0:33:47 > 0:33:48and straightaway...
0:33:48 > 0:33:50glass doors.
0:33:50 > 0:33:53These are such a health hazard. If you trip and fall into that,
0:33:53 > 0:33:58goodness knows. Just horrible, get rid of those, 100%. Dreadful things.
0:33:59 > 0:34:02Right, anyway, into the lounge area.
0:34:02 > 0:34:05It's not bad size. Lots of light coming in through the windows.
0:34:05 > 0:34:07Double-glazed? Very old double glazing,
0:34:07 > 0:34:09so that'll have to be replaced.
0:34:09 > 0:34:11Similarly, the fireplace.
0:34:11 > 0:34:14Straightaway, you're getting that feeling that this is a house
0:34:14 > 0:34:17that hasn't had a lot done to it in quite a while,
0:34:17 > 0:34:20although here's an advert for these kind of carpets.
0:34:20 > 0:34:23Despite everything else, this carpet is still going strong.
0:34:23 > 0:34:25Brilliant.
0:34:25 > 0:34:28Through to the kitchen - this is a nice surprise.
0:34:28 > 0:34:31It's a really nice-sized kitchen/dining area,
0:34:31 > 0:34:33very modern living here.
0:34:33 > 0:34:36The units, obviously, dreadful.
0:34:36 > 0:34:38Definitely got a few quirky things about it, this property.
0:34:38 > 0:34:41Look at that little conservatory lean-to thing.
0:34:41 > 0:34:43Probably wants to be knocked down
0:34:43 > 0:34:46and then a bit of a surprise for this kind of house -
0:34:46 > 0:34:49the loo of the property is situated down here.
0:34:49 > 0:34:52I say a surprise - you might expect that from a terrace,
0:34:52 > 0:34:55but from this kind of house, no, not ideal,
0:34:55 > 0:34:57so that has got to go somewhere else.
0:34:59 > 0:35:02I don't know about you, but I'm not keen on the idea of dripping
0:35:02 > 0:35:04through the kitchen when I get out of the bath.
0:35:04 > 0:35:07And there's another thing I don't like -
0:35:07 > 0:35:09polystyrene ceiling tiles.
0:35:09 > 0:35:12If you have a fire, they can make the blaze spread quickly,
0:35:12 > 0:35:14so they have to go.
0:35:14 > 0:35:17I'd maybe keep the flying saucer lights, though.
0:35:17 > 0:35:20I do like a bit of retro, but I digress.
0:35:20 > 0:35:21I'm not here to discuss decor.
0:35:23 > 0:35:26Upstairs, and the first thing I'm looking for is somewhere
0:35:26 > 0:35:29where you could potentially move that bathroom to
0:35:29 > 0:35:31and I'm rather sad to say it's looking like
0:35:31 > 0:35:34you might have to sacrifice a bedroom.
0:35:34 > 0:35:35This room at the front, though -
0:35:35 > 0:35:38it's not a bad size and you can possibly play around with this
0:35:38 > 0:35:40to get a bathroom in here
0:35:40 > 0:35:42and a smaller bedroom, so that is one option.
0:35:42 > 0:35:45It does feel a lot smaller up here than it does downstairs,
0:35:45 > 0:35:48which is a bit strange and one thing I'm definitely noticing -
0:35:48 > 0:35:50erm, wiring.
0:35:50 > 0:35:53When you do go round houses, you're looking for clues
0:35:53 > 0:35:54as to the state of the wiring
0:35:54 > 0:35:56and that can often be the light switches,
0:35:56 > 0:35:58it can be the fuse board.
0:35:58 > 0:35:59You're looking for stuff which says
0:35:59 > 0:36:02the wiring is potentially very old and might need replacing.
0:36:02 > 0:36:04Well, you don't have to look very far,
0:36:04 > 0:36:07because here in the bedroom, there's one of these charming little things.
0:36:07 > 0:36:11I don't know if you can see, but actually we've got a few bits
0:36:11 > 0:36:14of the actual cable there, so I'm not going to touch that.
0:36:14 > 0:36:17If I did, there'd be a big, blue flash and no more Martin.
0:36:17 > 0:36:19Clearly, we're going to have to factor in
0:36:19 > 0:36:22- a total rewire into our budget. - MUSIC: "Safety First" by Brotherhood of Man
0:36:22 > 0:36:25# Safety first
0:36:25 > 0:36:27# Here's a warning
0:36:27 > 0:36:29# If you want to play about
0:36:29 > 0:36:32# Keep it dumb, don't scream and shout
0:36:32 > 0:36:34# Just make sure I don't find out
0:36:34 > 0:36:36# Safety first... #
0:36:36 > 0:36:39Health and safety - it may be the butt of a lot of jokes,
0:36:39 > 0:36:43but when it comes to renovation and building work, it's no joke.
0:36:43 > 0:36:45Is everything safe?
0:36:45 > 0:36:47That's a question you should address on a regular basis
0:36:47 > 0:36:51and not just if you're a landlord.
0:36:51 > 0:36:54Here's there's the glass door, polystyrene tiles
0:36:54 > 0:36:56and the old wiring to contend with
0:36:56 > 0:36:59and that's before you get to do any of the obvious jobs
0:36:59 > 0:37:02and there's quite a lot of them to do.
0:37:02 > 0:37:05Then you think about moving that bathroom somewhere upstairs,
0:37:05 > 0:37:07but that would mean losing the bedroom,
0:37:07 > 0:37:10so maybe another solution will present itself.
0:37:11 > 0:37:14So outside of the house and to the side,
0:37:14 > 0:37:18possible opportunity for an extension
0:37:18 > 0:37:22and I would like to see possibly a garage with rooms above.
0:37:22 > 0:37:26Perhaps it would give you a chance to extend not only
0:37:26 > 0:37:28the front of the property, but also this kitchen area
0:37:28 > 0:37:30and at the same time, you would demolish this,
0:37:30 > 0:37:33which looks just as bad from the outside as it did from the inside.
0:37:33 > 0:37:36The other thing to think about when you're looking round houses
0:37:36 > 0:37:40is don't assume that's where the garden ends,
0:37:40 > 0:37:45cos often this kind of foliage can just overtake a house
0:37:45 > 0:37:48and a garden, especially if it's been left for a while.
0:37:48 > 0:37:50I reckon if you root around in there,
0:37:50 > 0:37:53that the boundary to the property
0:37:53 > 0:37:56goes at least another six or seven feet back that way.
0:37:58 > 0:38:01Time for a chain saw, I think.
0:38:01 > 0:38:04In fact, a section of this garden was sold off previously,
0:38:04 > 0:38:06so it was originally much bigger,
0:38:06 > 0:38:10but hopefully after this bit has been cleared, it will be big enough.
0:38:10 > 0:38:12To discover more about the history
0:38:12 > 0:38:15of the house that went to auction guided at £75,000 plus,
0:38:15 > 0:38:18we asked the auctioneer who sold it to come and tell us
0:38:18 > 0:38:21a bit more about this old property.
0:38:21 > 0:38:25Originally, this house had a much larger garden than it's got now
0:38:25 > 0:38:28and what's happened here is that somebody has bought it,
0:38:28 > 0:38:30they've applied for planning permission
0:38:30 > 0:38:34on the majority of the original garden for a building plot,
0:38:34 > 0:38:37so we're now concerned with the sale of the house with a driveway
0:38:37 > 0:38:40and just a very small front and rear garden.
0:38:40 > 0:38:42It's the space inside I'm more concerned with
0:38:42 > 0:38:45and that bathroom conundrum.
0:38:45 > 0:38:48In some local markets, the downstairs bathroom is the norm
0:38:48 > 0:38:51and in some, an upstairs bathroom is a must.
0:38:51 > 0:38:53What would the agent recommend?
0:38:53 > 0:38:54It's a difficult one.
0:38:54 > 0:38:58I think if it was me, I would actually put it into two bedrooms
0:38:58 > 0:39:01and take the bathroom away from downstairs.
0:39:01 > 0:39:04What effect would losing a bedroom have on the resale value
0:39:04 > 0:39:07of the property after a full refurbishment?
0:39:08 > 0:39:11If this is renovated to a good standard
0:39:11 > 0:39:13and you retain it as three bedrooms,
0:39:13 > 0:39:17it would have a value on today's market of about £120,000.
0:39:17 > 0:39:20If you bring the bathroom upstairs, so it becomes two bedrooms,
0:39:20 > 0:39:22clearly that would have a slight effect on value.
0:39:22 > 0:39:24It'd be a little bit less, but not a lot.
0:39:24 > 0:39:26So you'd be spending money on moving the bathroom
0:39:26 > 0:39:28and reducing the value of the house.
0:39:28 > 0:39:31That might not matter if you wanted to live here,
0:39:31 > 0:39:34but what effect would it have if you wanted to rent the property out?
0:39:34 > 0:39:36In terms of rental value,
0:39:36 > 0:39:39whether it remains as three bedrooms or becomes two bedrooms,
0:39:39 > 0:39:42it would be about £575 to £600 a calendar month.
0:39:45 > 0:39:47So intrinsically, not a bad house at all.
0:39:47 > 0:39:51It just needs quite a lot of modernisation.
0:39:51 > 0:39:55Good project, I would say. Let's see who agreed when it went under the hammer.
0:39:55 > 0:39:58Lot 15, who's got 70,000 to get on?
0:39:58 > 0:40:00He has, thank you.
0:40:00 > 0:40:02£70,000 is my opening bid.
0:40:02 > 0:40:0470,000, 71.
0:40:04 > 0:40:0572.
0:40:05 > 0:40:0672, 3.
0:40:06 > 0:40:0874.
0:40:08 > 0:40:1074,000, 75.
0:40:10 > 0:40:1375, 76 is bid.
0:40:13 > 0:40:15At 76,000. 77?
0:40:15 > 0:40:1777.
0:40:17 > 0:40:2077,000. 78 is bid.
0:40:20 > 0:40:21At 78.
0:40:21 > 0:40:23At 79? 79.
0:40:23 > 0:40:26At 79. 80,000.
0:40:26 > 0:40:2780, quickly.
0:40:27 > 0:40:30£79,000, then, once.
0:40:30 > 0:40:34£79,000 twice. It's going to go, make no mistake.
0:40:34 > 0:40:3679,000, third and last opportunity.
0:40:38 > 0:40:40Sold to the lady at 79,000.
0:40:41 > 0:40:45The successful bidder paying £79,000 was Chris,
0:40:45 > 0:40:47who was at the auction with her son, Danny.
0:40:47 > 0:40:50They live in Derby and Chris runs a day nursery,
0:40:50 > 0:40:53but is an experienced developer,
0:40:53 > 0:40:56so is her 17-year-old son hoping to follow in her footsteps?
0:40:56 > 0:40:59- Chris, Danny, great to see you both.- Hello.
0:40:59 > 0:41:01- Congratulations.- Thank you.
0:41:01 > 0:41:03So why do you want to buy this place?
0:41:03 > 0:41:05We didn't intend on buying this place.
0:41:05 > 0:41:08We meant to buy another property
0:41:08 > 0:41:11which went over our price.
0:41:11 > 0:41:14This one came up, we knew the area, so we thought we'd go for this.
0:41:19 > 0:41:23Chris has bought at auction before and she converted that property
0:41:23 > 0:41:26into a day nursery, so why did she buy this house?
0:41:26 > 0:41:29We went to auction to buy a property so Daniel could start
0:41:29 > 0:41:32on property development, because that's what he wants to do.
0:41:32 > 0:41:37The house that we initially went for, which was a lower price,
0:41:37 > 0:41:41we didn't get, so this one came up
0:41:41 > 0:41:45and it was still something there that Daniel could do and renovate,
0:41:45 > 0:41:46so we went for it.
0:41:46 > 0:41:49So is it just going to be you in terms of family members, or what?
0:41:49 > 0:41:52My sister might be helping out
0:41:52 > 0:41:53round here as well.
0:41:53 > 0:41:55So a bit of a family event, if you like.
0:41:55 > 0:41:57- And my brother.- And your brother?
0:41:57 > 0:41:59So tell me what you're going to do to it to sort it out.
0:41:59 > 0:42:04For starters, I'm going to start on the garden, get a new driveway in
0:42:04 > 0:42:08and at the back, there's quite a few laurels that need to come down.
0:42:08 > 0:42:11Take them down and start on the inside, get a new central heating,
0:42:11 > 0:42:15rewiring straightaway, that needs doing, new bathroom, new kitchen.
0:42:15 > 0:42:17So who's going to do the work?
0:42:17 > 0:42:20I'm going to concentrate on the garden and ripping out
0:42:20 > 0:42:23and get tradesmen in for what we need inside.
0:42:23 > 0:42:26We're going to look at probably moving the bathroom upstairs,
0:42:26 > 0:42:28aren't we? Only losing the bedroom.
0:42:28 > 0:42:33Then I think this area would be quite nice made into a large kitchen diner
0:42:33 > 0:42:36- with maybe French doors.- Ooh, la, la!
0:42:36 > 0:42:40It's a big list of to-dos for a first-time developer
0:42:40 > 0:42:42in a three to four-month timescale.
0:42:42 > 0:42:44And Danny, at 17,
0:42:44 > 0:42:46well, he must be one of our youngest developers on the show ever.
0:42:46 > 0:42:49So let's hope his brother, Dean, and sister, Charlotte,
0:42:49 > 0:42:53will come through with their offers of help.
0:42:53 > 0:42:56- What's the budget?- 15,000-18,000.
0:42:56 > 0:42:59What's the plan for it? Is it to sell it on or to rent it out?
0:42:59 > 0:43:01It'll be for Charlotte, my daughter.
0:43:01 > 0:43:03She's going to come in and live here.
0:43:03 > 0:43:05Although I was at the auction and purchased it,
0:43:05 > 0:43:07Charlotte is now taking on the mortgage,
0:43:07 > 0:43:11- so it will be her property to live in.- OK.
0:43:11 > 0:43:13So you're almost doing it up for your sister to live in?
0:43:13 > 0:43:15- Yeah.- But getting the experience from it?- Yes.
0:43:15 > 0:43:18- Listen, congratulations. Good luck with it.- Thank you.
0:43:18 > 0:43:21- I look forward to seeing how you get on.- Thank you very much.
0:43:22 > 0:43:24Well, a great property for Danny
0:43:24 > 0:43:27to cut his teeth in the world of property investment on
0:43:27 > 0:43:32and keeping it in the family by doing it up for his sister.
0:43:32 > 0:43:34How will they get on sorting it out?
0:43:34 > 0:43:36You can find out later in the show.
0:43:39 > 0:43:42Months have gone by since we last saw those properties.
0:43:42 > 0:43:46Have the renovations gone well and has time and money been well spent?
0:43:46 > 0:43:47Let's find out.
0:43:48 > 0:43:51Back now to Chopwell in Tyne and Wear
0:43:51 > 0:43:55and this former commercial premises, which had been converted
0:43:55 > 0:43:58into a two-bed flat with a rather peculiar layout.
0:43:58 > 0:44:02It was bought at auction for £10,250 by Gordon,
0:44:02 > 0:44:05a self-builder who has previously worked
0:44:05 > 0:44:08as an electrician and an IT professional.
0:44:08 > 0:44:11Now, Gordon was clearly not averse to risk.
0:44:11 > 0:44:13Hammer golden rule number one -
0:44:13 > 0:44:16view before you buy.
0:44:16 > 0:44:18I hadn't seen it.
0:44:18 > 0:44:21Basically, I bought it on impulse because it was such a low price,
0:44:21 > 0:44:24I thought, "Well, what's the worst that could happen?"
0:44:24 > 0:44:27You lose all your money is probably the worst that could happen.
0:44:27 > 0:44:30And Hammer golden rule number two?
0:44:30 > 0:44:32So presumably you haven't read the legal pack.
0:44:32 > 0:44:37No. I found out since that no-one really reads the legal pack.
0:44:37 > 0:44:38That's rubbish!
0:44:38 > 0:44:40Everybody needs to read the legal pack
0:44:40 > 0:44:42and the solicitor should look through it as well.
0:44:42 > 0:44:46- Yeah, but in reality, nobody reads the legal pack.- That's not true!
0:44:46 > 0:44:48- Isn't it?- No! Absolutely rubbish!
0:44:49 > 0:44:52I will argue till the cows come home on this point.
0:44:52 > 0:44:53People need to read the legal pack!
0:44:55 > 0:44:57I feel better for getting that off my chest.
0:44:57 > 0:45:00Gordon was planning to do as much of the work himself as possible
0:45:00 > 0:45:05and he had a budget of £3,000 and a four to six-week timescale.
0:45:05 > 0:45:0816 weeks after our first visit, we're back to see
0:45:08 > 0:45:11if all Gordon's risks have paid off.
0:45:15 > 0:45:18MUSIC: "What If?" by Coldplay
0:45:21 > 0:45:28# Let's take a breath, jump over the side
0:45:28 > 0:45:35# Ooh, ooh-ooh, that's right
0:45:35 > 0:45:42# How can you know it, if you don't even try?
0:45:42 > 0:45:48# Ooh, ooh-ooh, that's right... #
0:45:50 > 0:45:51Nice one, Gordon!
0:45:51 > 0:45:55For starters, the flat looks like a flat now.
0:45:56 > 0:46:01This one here, this was a complete window with a door here.
0:46:01 > 0:46:05And now, as you can see, I've got rid of the big window and put two
0:46:05 > 0:46:11smaller windows, and then put the door over there with a little porch.
0:46:11 > 0:46:15So it keeps out the road noise and also somewhere to put your coat
0:46:15 > 0:46:17and put your boots when you come in.
0:46:17 > 0:46:21You see there's cars passing by there and you can't hear them.
0:46:21 > 0:46:24Ordinarily, that was really noisy - the windows used to shake
0:46:24 > 0:46:27when a car or a van went by.
0:46:28 > 0:46:30And to prove just how quiet it is,
0:46:30 > 0:46:31all we need now is some traffic...
0:46:31 > 0:46:33Oh, there's a bus.
0:46:35 > 0:46:39Beyond the changes to the front, the main thing is the layout here
0:46:39 > 0:46:43works much better, with an open-plan living space at the front...
0:46:44 > 0:46:46..three bedrooms at the back,
0:46:46 > 0:46:49although the third one is on the small side...
0:46:49 > 0:46:51and the bathroom and the back door
0:46:51 > 0:46:54now at the end of the corridor where the old kitchen and loo were.
0:46:56 > 0:46:58I really like what Gordon has done here.
0:46:58 > 0:47:02He's bought the bathroom, kitchen and other materials from internet
0:47:02 > 0:47:07auctions, and what's more, he's just about done it all single-handed.
0:47:07 > 0:47:10I've done all the work myself, apart from plastering.
0:47:10 > 0:47:13That's the only thing that I can't do.
0:47:13 > 0:47:15I've tried before and it's just too difficult -
0:47:15 > 0:47:18especially ceilings, it's just impossible.
0:47:18 > 0:47:22So that's the only thing that I've actually paid for to...
0:47:22 > 0:47:24£700 it cost me.
0:47:26 > 0:47:28Gordon turned his hand to everything else,
0:47:28 > 0:47:33from laying the bricks for the new front wall, to some basic plumbing.
0:47:33 > 0:47:35Years ago, before I went to university,
0:47:35 > 0:47:37I used to be an electrician,
0:47:37 > 0:47:39so electrical work was easy for me.
0:47:39 > 0:47:43Plumbing is very similar to electrical work,
0:47:43 > 0:47:44so I did the plumbing myself.
0:47:44 > 0:47:47But the boiler hasn't moved - it's still the same,
0:47:47 > 0:47:51so there's no gas work, it was just simple radiators.
0:47:51 > 0:47:55Gordon is aware that he'll need certification for the electrical
0:47:55 > 0:47:57and gas work when it comes to selling,
0:47:57 > 0:48:02and he will need a gas safety certificate if he decides to rent.
0:48:02 > 0:48:04If you're thinking of becoming a landlord, check out
0:48:04 > 0:48:06government guidelines for becoming a landlord
0:48:06 > 0:48:10and property professionals - very handy.
0:48:10 > 0:48:13I anticipated six to eight weeks for this project and it took me
0:48:13 > 0:48:14twice as long.
0:48:14 > 0:48:17Renovating, you're doing twice as much work, cos you've got to
0:48:17 > 0:48:23pull down other people's work and mistakes and then put in new.
0:48:24 > 0:48:27So, he's gone over on his schedule, but by doing most of the work
0:48:27 > 0:48:32himself, has Gordon managed to keep the budget in check?
0:48:32 > 0:48:35My budget, originally, was £3,000.
0:48:35 > 0:48:36I've spent about £3,500,
0:48:36 > 0:48:43but I've bought the majority of the materials off the internet.
0:48:43 > 0:48:47Gordon bought the flat for £10,250,
0:48:47 > 0:48:49and a £3,500 spend
0:48:49 > 0:48:55brings his total spend to £13,750, before fees.
0:48:55 > 0:48:58We asked along two local estate agents to
0:48:58 > 0:49:00get their take on the renovated flat.
0:49:00 > 0:49:04First up, the agent who looked round before work commenced.
0:49:04 > 0:49:08I think that the property has undergone an amazing transformation,
0:49:08 > 0:49:12and I really like the space, especially this lounge area here.
0:49:13 > 0:49:16I love the dining room and the kitchen, I think
0:49:16 > 0:49:18that space has been used really, really well.
0:49:18 > 0:49:20I think people are looking for open-plan now,
0:49:20 > 0:49:23so I think he's done a great job on that.
0:49:23 > 0:49:27Now, Gordon is undecided as to whether he will rent or sell, so
0:49:27 > 0:49:32what do the experts think the flat would fetch on the resale market?
0:49:32 > 0:49:34I think the property, once completely finished, would be
0:49:34 > 0:49:37worth somewhere in the region of £35,000.
0:49:37 > 0:49:39To market the property,
0:49:39 > 0:49:42I would put it on at between £30,000 and £35,000.
0:49:43 > 0:49:45Those figures would give Gordon a profit, before tax
0:49:45 > 0:49:51and expenses, of between £16,250 and £21,250,
0:49:51 > 0:49:53which is more than doubling his money.
0:49:53 > 0:49:56What about rentals?
0:49:56 > 0:49:58For rental purposes, I think the property should achieve
0:49:58 > 0:50:03somewhere between £350 to £375, per calendar month.
0:50:03 > 0:50:06For rental, I would value the property between £350
0:50:06 > 0:50:09and £375 per calendar month.
0:50:10 > 0:50:14If Gordon rented the flat out for £375 a month,
0:50:14 > 0:50:19he'd be looking at a staggering yield of almost 33%.
0:50:19 > 0:50:24So, Gordon, is it going to be a quick sale or a long-term rental?
0:50:24 > 0:50:28If I could get £30,000 to £35,000, I'd be tempted to sell it.
0:50:28 > 0:50:32If I couldn't, if it gets down to, say 25,
0:50:32 > 0:50:36then I would keep it for a couple of years, get my money back,
0:50:36 > 0:50:39and then possibly test the market again.
0:50:42 > 0:50:45Will he be back at the auction any time soon?
0:50:45 > 0:50:49I would definitely do it again, and I would definitely recommend it.
0:50:49 > 0:50:53The other question that's buzzing around in my head is...
0:50:53 > 0:50:55This jumper?
0:50:55 > 0:51:00My mum - Nana Olive, she's 87 and she spent a few months knitting me
0:51:00 > 0:51:03this jumper, and that's why I'm wearing it today for my mam.
0:51:10 > 0:51:13Well, there were more high risks to face in this
0:51:13 > 0:51:15three-bed semi in Alvaston, Derby,
0:51:15 > 0:51:18but the risks here were more about the fixtures and fittings -
0:51:18 > 0:51:24old polystyrene tiles, glass doors and dodgy wiring for three.
0:51:24 > 0:51:26There were a lot of tired fixtures and fittings,
0:51:26 > 0:51:29and the outside had little additions,
0:51:29 > 0:51:33front and back, that needed demolished before they fell down.
0:51:33 > 0:51:35The place was in real need of a make over,
0:51:35 > 0:51:40and this pile of problems was bought by Chris for £79,000.
0:51:40 > 0:51:44Chris, who runs a day nursery, and her 17-year-old son Danny,
0:51:44 > 0:51:46plan to make the house fit for modern living -
0:51:46 > 0:51:48not for the property market,
0:51:48 > 0:51:51but for Chris's daughter Charlotte and her daughter Kaya.
0:51:51 > 0:51:54Tell me what you're going to do to it then, to sort it out.
0:51:54 > 0:51:57We're going to look at moving the bathroom upstairs,
0:51:57 > 0:51:59only losing a bedroom.
0:51:59 > 0:52:01And then this area, I think, would be quite nice
0:52:01 > 0:52:06made into a kitchen/diner, with maybe French doors.
0:52:06 > 0:52:09This was going to be Danny's first ever renovation project,
0:52:09 > 0:52:13and with a budget of £15,000 to £18,000,
0:52:13 > 0:52:16and a three-to-four-month timescale, mum Chris would be on hand to
0:52:16 > 0:52:20guide him through the pitfalls of making over a property.
0:52:20 > 0:52:22So, when we returned seven months later,
0:52:22 > 0:52:25had Danny turned the house into a home?
0:52:26 > 0:52:30Well, the garden has been stripped away, along with the tired porch,
0:52:30 > 0:52:33leaving a new front door, new windows
0:52:33 > 0:52:36and freshly-painted lintels - all very smart.
0:52:38 > 0:52:41And that's exactly how it is inside.
0:52:41 > 0:52:46The re-carpeted, decorated lounge is now minus that antiquated gas fire.
0:52:48 > 0:52:52And the kitchen sink and cooker have been replaced with new units,
0:52:52 > 0:52:54a hob and flooring.
0:52:56 > 0:52:58And while the bathroom is still downstairs,
0:52:58 > 0:53:02a new suite at least makes it feel up to date.
0:53:03 > 0:53:06Upstairs, and the three bedrooms have all had a make over,
0:53:06 > 0:53:08with freshly-painted walls,
0:53:08 > 0:53:11giving these rooms a greater feeling of light and space.
0:53:12 > 0:53:15Danny wasn't able to meet us on the day of filming,
0:53:15 > 0:53:17but Chris and her daughter Charlotte were there to tell us
0:53:17 > 0:53:20about the changeover from tired house to modern home.
0:53:22 > 0:53:25It's developed really quite nicely, I'm pleased with it.
0:53:25 > 0:53:28Everybody's saying what a lovely feel it has about it -
0:53:28 > 0:53:31it has got a really nice, homely feel,
0:53:31 > 0:53:34which we really like.
0:53:34 > 0:53:37And that homely feel will soon belong to Charlotte.
0:53:37 > 0:53:39I'm going to be moving in at the weekend, hopefully.
0:53:39 > 0:53:42There's a few more bits that I do need to get sorted,
0:53:42 > 0:53:47but other than that, hopefully, this weekend I should be moving in.
0:53:47 > 0:53:49It's an exciting time for Charlotte,
0:53:49 > 0:53:51who has also taken on the mortgage for the property.
0:53:51 > 0:53:55But what about those changes that Chris had planned?
0:53:55 > 0:53:58We did debate whether to put the bathroom upstairs or not,
0:53:58 > 0:54:01however, it is quite a nice space upstairs
0:54:01 > 0:54:06and having that extra spare room for visitors and maybe turning it into
0:54:06 > 0:54:12a little office, was more beneficial than taking the bathroom upstairs.
0:54:12 > 0:54:16So we left the bathroom where it was, retiled and made it
0:54:16 > 0:54:17look a bit neater and tidier.
0:54:19 > 0:54:23And it's not only more comfortable, it's an awful lot safer.
0:54:23 > 0:54:27The plans for the French windows also had to be dropped, as it would
0:54:27 > 0:54:31have involved new lintels, which was more work than they really wanted.
0:54:31 > 0:54:33But the house has had new electrics
0:54:33 > 0:54:38and gas central heating installed, so the main comforts are in place.
0:54:38 > 0:54:41Outside, the back porch has been despatched to skip
0:54:41 > 0:54:43and it all looks a lot tidier,
0:54:43 > 0:54:46while the noble laurels have met a rather ignoble end.
0:54:46 > 0:54:49But I think that this will be a lovely space for Charlotte to
0:54:49 > 0:54:53relax in, though it sounds like she's been doing that already.
0:54:53 > 0:54:56I haven't really had much input at all with this,
0:54:56 > 0:54:58it was more my brother Daniel.
0:54:58 > 0:55:00I just said, "Paint the walls a plain colour
0:55:00 > 0:55:04"and I'll put my stamp on it when I'm ready."
0:55:04 > 0:55:07And it was Danny who was the real champion of the hour,
0:55:07 > 0:55:10working hard, doing the labouring chores, stripping away
0:55:10 > 0:55:14the wallpaper and getting the property ready for the tradesmen.
0:55:14 > 0:55:16Danny's done quite a bit of the organising
0:55:16 > 0:55:19and I've just supported him with that.
0:55:19 > 0:55:21But he wanted to be able make the phone calls and try
0:55:21 > 0:55:26and coordinate the electrician and the plumber and the decorator.
0:55:26 > 0:55:29Yeah, but we have all worked together on the project.
0:55:29 > 0:55:33And it's been a learning curve that didn't get too steep for Danny.
0:55:33 > 0:55:35But, being a first-time developer,
0:55:35 > 0:55:38did he manage to stick to the budget?
0:55:38 > 0:55:42We had estimated around £15,000 to £18,000 it was going to cost us,
0:55:42 > 0:55:48however, we did manage to do it on a budget of £10,500.
0:55:48 > 0:55:51I think with having Danny doing a lot of labouring,
0:55:51 > 0:55:55that's managed to keep the costs down quite a bit as well.
0:55:57 > 0:56:01Add that to their purchase price of 79,000,
0:56:01 > 0:56:05and their total outlay is £89,500.
0:56:05 > 0:56:08Time to find out what two local property experts
0:56:08 > 0:56:10thought of Charlotte's new home.
0:56:10 > 0:56:12We start first with the auctioneer who sold
0:56:12 > 0:56:14the home before the renovation.
0:56:14 > 0:56:18First impressions on this is it's clean, tidy, presentable
0:56:18 > 0:56:19and will appeal.
0:56:19 > 0:56:22The first impressions of the property are, yes,
0:56:22 > 0:56:26lovely-looking house, which I think is going to draw people's attention.
0:56:26 > 0:56:28I quite like the kitchen, it's got a nice feel to it,
0:56:28 > 0:56:31it's got lots of bright windows and it's a nice size.
0:56:31 > 0:56:34So I think it's got some appeal.
0:56:34 > 0:56:36This will soon be Charlotte's home,
0:56:36 > 0:56:40but as the family have spent £89,500 on the house,
0:56:40 > 0:56:44what sort of profit could they make, should they decide to sell?
0:56:44 > 0:56:48My sale valuation on this property would be £120,000.
0:56:48 > 0:56:52If we were to put this property up for sale, with a few tweaks,
0:56:52 > 0:56:55I think we could ask £130,000,
0:56:55 > 0:57:00and achieve something around the stamp duty threshold of £125,000.
0:57:02 > 0:57:05Those valuations mean that the family could make a possible
0:57:05 > 0:57:12profit of £30,500 to £35,500, minus the usual taxes and fees.
0:57:12 > 0:57:14- Wow...- That's really good, isn't it?
0:57:14 > 0:57:15We like the sound of that.
0:57:15 > 0:57:19That's a good investment.
0:57:19 > 0:57:23But for now, this will be a new home for Charlotte and her daughter Kaya,
0:57:23 > 0:57:27who already know the perfect way to relax in their new surroundings.
0:57:30 > 0:57:32We're going to have a little party,
0:57:32 > 0:57:34so we'll have a midnight feast,
0:57:34 > 0:57:36might get all the blankets downstairs
0:57:36 > 0:57:39and just enjoy our own home.
0:57:42 > 0:57:44We hope you've enjoyed watching
0:57:44 > 0:57:46and perhaps learned some lessons along the way.
0:57:46 > 0:57:50Make sure you join us next time for more Homes Under The Hammer.
0:57:50 > 0:57:51- Goodbye.- Goodbye.