0:00:02 > 0:00:04Hello. You can't always judge what the property market is up to
0:00:04 > 0:00:06these days because you can't always believe
0:00:06 > 0:00:08what you read or what you hear.
0:00:08 > 0:00:11The best thing to do is to try and find out for yourself.
0:00:11 > 0:00:12And one way you can do that
0:00:12 > 0:00:15is by going to your local property auction.
0:00:40 > 0:00:44Well, there are a huge range of properties that go under
0:00:44 > 0:00:47the hammer, so why not nip down to your local auction house
0:00:47 > 0:00:50and get a feel for them? You don't have to buy anything.
0:00:50 > 0:00:52Yeah. You may be surprised at some of the prices.
0:00:52 > 0:00:57So let's take a look at what got our bidders going on today's programme.
0:00:57 > 0:01:01In Gillingham, Kent, something is missing.
0:01:01 > 0:01:04You know what? It just reminds me of a pub loo.
0:01:04 > 0:01:07Why would you want to have that big gap there?
0:01:07 > 0:01:09While in Streatham, South London,
0:01:09 > 0:01:12I find something I didn't want to see.
0:01:12 > 0:01:17Don't ever think about painting plastic windows.
0:01:18 > 0:01:19And in Bodmin,
0:01:19 > 0:01:22there might be something the neighbours don't want to see.
0:01:22 > 0:01:27Doors from the bathroom out, onto the balcony.
0:01:27 > 0:01:30Just make sure you remember to wear a bathrobe. Otherwise,
0:01:30 > 0:01:33you give the neighbours a bit of a shock.
0:01:33 > 0:01:34I've got 235 here.
0:01:34 > 0:01:36All of these properties were sold at auction.
0:01:36 > 0:01:39We'll find out who bought them and what they paid for them
0:01:39 > 0:01:41when they went under the hammer.
0:01:44 > 0:01:47# Why don't you live in a house in Kent?
0:01:47 > 0:01:50# Believe that it's heaven sent
0:01:50 > 0:01:53# Live in a house in Kent
0:01:53 > 0:01:59# And don't ever move. #
0:01:59 > 0:02:04I'm in Gillingham, a place that in old Kentish means...to shout!
0:02:04 > 0:02:07Will there be something to shout about today?
0:02:08 > 0:02:11The property I am here to see is just around the corner
0:02:11 > 0:02:13from a large general hospital.
0:02:13 > 0:02:17So, before you even go to the door, you know you've got
0:02:17 > 0:02:20your rental income sorted. A good start.
0:02:20 > 0:02:22Now, the house itself has three bedrooms
0:02:22 > 0:02:26and it had a guide price of 90,000 to 95,000.
0:02:26 > 0:02:30# Doctor, Doctor, please
0:02:30 > 0:02:33# Oh, the mess I'm in! #
0:02:34 > 0:02:38Doctors on call like to be as near their place of work as possible,
0:02:38 > 0:02:41so this is just what the doctor ordered.
0:02:41 > 0:02:43The house is a bit scruffy on the outside,
0:02:43 > 0:02:45definitely in need of some first aid.
0:02:48 > 0:02:50Whoo! In I come.
0:02:50 > 0:02:53Let's put the brolly down and have a little look around
0:02:53 > 0:02:54with what we've got.
0:02:54 > 0:02:56So, straightaway, the things you need to clock
0:02:56 > 0:02:58when you walk into a property - things like this.
0:02:58 > 0:03:01Yes, a big tick, there is central heating.
0:03:01 > 0:03:04I'm not keen on the external pipes, I'd like to get those buried.
0:03:04 > 0:03:08A good-sized sitting room. Some really funky retro features.
0:03:08 > 0:03:11I mean, look at the wall lights, the lampshades.
0:03:11 > 0:03:13Some beautiful cornicing, though, in that room,
0:03:13 > 0:03:17so beware of little features like that. Second reception room.
0:03:17 > 0:03:19Now, this is actually a much bigger space,
0:03:19 > 0:03:22a nicer size than the room next door, I think.
0:03:22 > 0:03:25Would you want to knock through here and open up this wall?
0:03:25 > 0:03:29Or perhaps, you might want to knock through this room
0:03:29 > 0:03:30and go into the kitchen.
0:03:30 > 0:03:33But another thing I've noticed - double glazing.
0:03:33 > 0:03:36So, two big expenses spared, which is great.
0:03:36 > 0:03:41So far, there is something to shout about with this property.
0:03:41 > 0:03:43Sure, I'd want those gas fires gone.
0:03:43 > 0:03:47And the kitchen, well, it is a bit of a let down - very dated, indeed.
0:03:47 > 0:03:51This is a rip-out job. But handy that there's a can opener,
0:03:51 > 0:03:54because the bathroom door is a can of worms!
0:03:57 > 0:03:59You think you've seen it all.
0:03:59 > 0:04:01Look, this is the bathroom,
0:04:01 > 0:04:05but there is a piece of wall missing from ceiling to there.
0:04:05 > 0:04:08And it gets better. Follow me through to here.
0:04:08 > 0:04:11Yes, and voila!
0:04:11 > 0:04:13The toilet. Same thing again.
0:04:13 > 0:04:15You know what, it just reminds me of a pub loo.
0:04:15 > 0:04:18Why would you want to have that big gap there?
0:04:18 > 0:04:21In my mind, the space hasn't been utilised brilliantly.
0:04:21 > 0:04:24You've got a big waste of space here with the corridor.
0:04:24 > 0:04:27You've got the back door leading out to the garden.
0:04:27 > 0:04:31I think there's easily enough room to put a utilities somewhere
0:04:31 > 0:04:33and to re-juggle the bathroom towards
0:04:33 > 0:04:35the back of the property, maybe thinking about re-locating
0:04:35 > 0:04:39that door and putting it in here, in place of the window in the bathroom.
0:04:39 > 0:04:42There is so much you could do
0:04:42 > 0:04:44to make better use of the space.
0:04:44 > 0:04:47# Mind the gap, mind your head
0:04:47 > 0:04:50# Mind things your mama said. #
0:04:50 > 0:04:53There is more potential than privacy about this privy.
0:04:53 > 0:04:55When it's got to go, it's got to go.
0:04:57 > 0:05:00Outside, there is a fair bit of space.
0:05:00 > 0:05:03Now that IS something to shout about.
0:05:03 > 0:05:06Well, this is a nice staircase. Lovely spindles.
0:05:06 > 0:05:08Nice to have some character in houses like this.
0:05:08 > 0:05:12So, right at the back, we've got a little bedroom with a boiler in it.
0:05:12 > 0:05:13Not ideal.
0:05:13 > 0:05:16Try and relocate that downstairs if possible. Another bedroom here.
0:05:16 > 0:05:19Great size. You've got a fireplace that you could uncover.
0:05:19 > 0:05:21You never know what's lurking behind.
0:05:21 > 0:05:23And right along this corridor,
0:05:23 > 0:05:26towards the front of the building, is the master bedroom.
0:05:26 > 0:05:27Now, this is brilliant.
0:05:27 > 0:05:31You've got a great space here, enough room to put some wardrobes.
0:05:31 > 0:05:34Look at these lovely floorboards.
0:05:34 > 0:05:37It's so nice when you pull back, in this instance the lino,
0:05:37 > 0:05:39and you can see the really nice floorboards.
0:05:39 > 0:05:42And look, an old newspaper.
0:05:43 > 0:05:47Sunday Pictorial, May 10th, 1959.
0:05:47 > 0:05:51"You can't wash the smartness out of this non-iron shirt." I love it!
0:05:51 > 0:05:53"So crazy - anyone can buy it."
0:05:53 > 0:05:55Let's hope the person who's bought this house doesn't think
0:05:55 > 0:05:57they're crazy, because I certainly don't.
0:05:57 > 0:06:02- # You know I'm not crazy - You know I'm not crazy
0:06:02 > 0:06:07- # You know I'm not crazy - You know I'm not crazy. #
0:06:08 > 0:06:11Let's see if a local agent agrees with me.
0:06:12 > 0:06:17The situation with the downstairs in particular, the bathroom,
0:06:17 > 0:06:18is a little bit unusual.
0:06:18 > 0:06:20Although, it is not unusual to have
0:06:20 > 0:06:22a downstairs bathroom.
0:06:22 > 0:06:26But I would consider some sort of reconfiguration out there to perhaps
0:06:26 > 0:06:31get a utility room or maybe move the door to make that practical.
0:06:31 > 0:06:34This property is one of the ones that if you're not careful,
0:06:34 > 0:06:36you might end up spending more than you planned,
0:06:36 > 0:06:38which would eat into your profit.
0:06:38 > 0:06:41I think this property, when fully renovated, should be
0:06:41 > 0:06:44worth in the region of 125,000.
0:06:44 > 0:06:47This property will rent for a price
0:06:47 > 0:06:52of £700 to £750 per calendar month.
0:06:53 > 0:06:57This is actually a decent sized house with plenty of scope to
0:06:57 > 0:07:00improve and character to enhance.
0:07:00 > 0:07:03Let's see who went for it at the auction.
0:07:03 > 0:07:05Lot 28.
0:07:05 > 0:07:07And we've got a guide of 90 to 95.
0:07:07 > 0:07:09What may I say?
0:07:09 > 0:07:12Start me at the bottom end of the guide - £90,000 to start.
0:07:12 > 0:07:1390,000 anywhere?
0:07:13 > 0:07:16I don't mind where we start, it's where we finish that counts.
0:07:16 > 0:07:1785 then?
0:07:17 > 0:07:2085? 85 springing up like mushrooms.
0:07:20 > 0:07:2285 on bid. 88?
0:07:22 > 0:07:2588, I have. And 90? 90 is bid.
0:07:25 > 0:07:28And 92? 92 on the far right.
0:07:28 > 0:07:2995.
0:07:29 > 0:07:3197 is bid. And 100?
0:07:31 > 0:07:34100, I have. 102?
0:07:34 > 0:07:36102 on bid. 105.
0:07:36 > 0:07:40107. 107. And 110.
0:07:40 > 0:07:42Anybody else? 110, I have.
0:07:42 > 0:07:44112?
0:07:44 > 0:07:46I'll take 1,000 if it helps.
0:07:46 > 0:07:49At 110,000 for the first time, then.
0:07:49 > 0:07:52For the second time at... 111.
0:07:52 > 0:07:54It has come back. 112, sir?
0:07:54 > 0:07:56111, you might've just clinched it.
0:07:56 > 0:07:59At 111, then, for the first time.
0:07:59 > 0:08:02111 for the second time.
0:08:02 > 0:08:05111 for the third and final time.
0:08:05 > 0:08:07At 111, are you all done?
0:08:07 > 0:08:09Sold at 111.
0:08:09 > 0:08:14And the successful bidders were father and son team Tony and Luke.
0:08:14 > 0:08:18- # I am what I am - Am what I am
0:08:19 > 0:08:21# A family man. #
0:08:21 > 0:08:24Tony has just taken early retirement.
0:08:24 > 0:08:25So rather than putting his feet up,
0:08:25 > 0:08:29he went to the auction to find a new project.
0:08:29 > 0:08:31Tony and Luke, congratulations. This is really good news.
0:08:31 > 0:08:34How well do you know the area?
0:08:34 > 0:08:37Very well. I've been living in the area for 30 years now.
0:08:37 > 0:08:40- And have you bought this property? - Yes.
0:08:40 > 0:08:43OK, now, Luke, what is your input going to be?
0:08:43 > 0:08:45I'm going to be helping out weekends, evenings,
0:08:45 > 0:08:46so much as possible.
0:08:46 > 0:08:49I work all week, so when I get a bit of free time,
0:08:49 > 0:08:51I'll help out my dad.
0:08:51 > 0:08:54Hopefully, I can still play football on Sunday morning,
0:08:54 > 0:08:57but it is up to the boss now. So, we'll have to see how that goes.
0:08:57 > 0:09:00- Is he really in control?- He will be.
0:09:00 > 0:09:02He's shaking his head.
0:09:02 > 0:09:06If he starts paying the money, then I'll do whatever he says.
0:09:06 > 0:09:10Tony used to work for a power station, but now that he's retired,
0:09:10 > 0:09:13he's looking forward to a change in direction.
0:09:13 > 0:09:15And for him, it isn't just a pipe dream.
0:09:15 > 0:09:19Well, I've always has been interested in houses and doing houses up.
0:09:19 > 0:09:23I've built three, four extensions.
0:09:23 > 0:09:26And just find it interesting.
0:09:26 > 0:09:28I've lived on a building site my entire life.
0:09:28 > 0:09:31Oh, tell me about your childhood, was it that awful?
0:09:31 > 0:09:34It was extensions and a lot of digging,
0:09:34 > 0:09:36a lot of filling up rubble bags.
0:09:36 > 0:09:39So I've kind of learned from a young age, really.
0:09:39 > 0:09:42And I'm kind of carrying it forward to my house now
0:09:42 > 0:09:45and my house I just left. So, it's a good...
0:09:45 > 0:09:48This work has been like a mini apprenticeship for me, really.
0:09:48 > 0:09:52The apprenticeship hasn't put Luke off, which is just as well.
0:09:52 > 0:09:55Tony has set a £10,000 budget.
0:09:55 > 0:09:58Hm, the margins are quite tight on this one.
0:09:58 > 0:10:01Bought for 111,000, add £10,000,
0:10:01 > 0:10:05and the agent thought it would sell for 125,000.
0:10:05 > 0:10:07Ooh...
0:10:07 > 0:10:10So, where are you going to start? What changes are you going to make?
0:10:10 > 0:10:13Well, I'm going to start on the easy bit, which is upstairs, I think.
0:10:13 > 0:10:17Because really that is just purely decoration.
0:10:17 > 0:10:21I hope it is easy, but really, I'm worried, as this is a house
0:10:21 > 0:10:24that both the agent and I thought could eat up money.
0:10:26 > 0:10:29So, let's talk about downstairs.
0:10:29 > 0:10:32You've got some rooms... You know, you've got a lovely,
0:10:32 > 0:10:33big room to the front,
0:10:33 > 0:10:35this one that we are standing in. What do you think?
0:10:35 > 0:10:38Well, knocking this wall down there
0:10:38 > 0:10:41to make this an open plan lounge-diner.
0:10:41 > 0:10:45But the kitchen and the bathroom I've been... Tape measured
0:10:45 > 0:10:46and drawings and...
0:10:46 > 0:10:49So, what ideas have you come up with so far?
0:10:49 > 0:10:52Knocking all them silly little walls down that are in there.
0:10:52 > 0:10:54Moving the doorway.
0:10:54 > 0:10:57I'm going to put a VELUX window in or two, maybe,
0:10:57 > 0:10:59to bring some natural light in.
0:10:59 > 0:11:03It's just figuring out how to squeeze the bath up towards the toilet,
0:11:03 > 0:11:05and that's what I plan on doing.
0:11:05 > 0:11:07Do you think it was a good buy at auction?
0:11:07 > 0:11:09When I looked at this house, it had such a good feel.
0:11:09 > 0:11:11It was a really sunny day.
0:11:11 > 0:11:15The garden is south facing, it was lovely out there. And I just...
0:11:15 > 0:11:17And it was big.
0:11:17 > 0:11:19Which I thought you can do something if it's big.
0:11:19 > 0:11:23Talking about the garden, what is that right at the end of the garden?
0:11:23 > 0:11:25It's a lovely little pub.
0:11:25 > 0:11:28I say a little pub, it's more like a hole.
0:11:28 > 0:11:30- Will you be spending any time in there?- No.
0:11:30 > 0:11:32Will you be hopping over the back wall?
0:11:32 > 0:11:34You're nodding, you're shaking your head.
0:11:34 > 0:11:38- We've got to say no.- No. - But probably.- Mum's watching.
0:11:41 > 0:11:43Don't worry, Mum, I think
0:11:43 > 0:11:46there's plenty of work here to keep this pair out of the pub.
0:11:46 > 0:11:48But Tony and Luke seemed to be relishing
0:11:48 > 0:11:50the prospect of getting stuck in.
0:11:51 > 0:11:53So, how near do you and your dad live, then?
0:11:53 > 0:11:55Me and my fiancee and our little girl,
0:11:55 > 0:11:58we're just down the road. It's quite handy.
0:11:58 > 0:12:01I like to pop in, get a bottle of wine when they're out
0:12:01 > 0:12:03and borrow a few tools.
0:12:03 > 0:12:05So, yeah, it's quite useful.
0:12:05 > 0:12:09So, have you taken a lot from your dad's life and experience
0:12:09 > 0:12:12of building extensions and brought it to your own family?
0:12:12 > 0:12:15I think it annoys my other half, simply because I always think,
0:12:15 > 0:12:16"I'm going to try that myself."
0:12:16 > 0:12:18Sometimes it works, sometimes it doesn't.
0:12:18 > 0:12:21But I'm always one for giving everything a try.
0:12:21 > 0:12:23If it doesn't work, then you can easily fix it.
0:12:23 > 0:12:25That's fantastic, I love your attitude.
0:12:25 > 0:12:28Even though you are both very relaxed about this,
0:12:28 > 0:12:31- what is your timeframe? - I did say six months,
0:12:31 > 0:12:34but I don't really know.
0:12:34 > 0:12:38It might go over. Hopefully, it will be under. But six months I've set.
0:12:38 > 0:12:41Only time will tell. When we come back, we'll find out.
0:12:41 > 0:12:44It has been lovely meeting both of you. I'm so excited to see
0:12:44 > 0:12:46- how the project goes. Good luck. - Thank you.
0:12:46 > 0:12:49- Thanks a lot.- Nice to meet you. Thank you.
0:12:49 > 0:12:54If it doesn't work, you can easily fix it. I love that attitude!
0:12:54 > 0:12:56And most of the time, well, it is true.
0:12:56 > 0:12:59But all that work for ten grand?
0:12:59 > 0:13:01Hm, that's a little bit harder.
0:13:01 > 0:13:04You can find out how it all goes later in the programme.
0:13:09 > 0:13:11I'm in Streatham, South London,
0:13:11 > 0:13:15a multicultural hubbub with all sorts of properties at offer,
0:13:15 > 0:13:19from flats to townhouses in tree-lined streets.
0:13:19 > 0:13:23And up here on Streatham Common, annually, the Kite Festival.
0:13:23 > 0:13:28All you need do is turn up with a kite, surprise, surprise. If all
0:13:28 > 0:13:32else fails, a bin bag, some twigs, some sticky tape and some string.
0:13:32 > 0:13:34# Come fly with me
0:13:34 > 0:13:37# Let's fly, let's fly away! #
0:13:37 > 0:13:41Luckily, the properties around here seem to be made of sturdier stuff
0:13:41 > 0:13:42than that.
0:13:42 > 0:13:45And there's quite a range of architectural styles to be
0:13:45 > 0:13:48seen surrounding this great open space.
0:13:48 > 0:13:52And there's much more on offer here with a busy high street
0:13:52 > 0:13:54and easy access to public transport.
0:13:54 > 0:13:57Well, flying high in the property stakes,
0:13:57 > 0:14:01we hope, is the flat I'm here to see, quite close
0:14:01 > 0:14:04to Streatham Hill Station and Streatham High Street.
0:14:04 > 0:14:08Two bedrooms, ground floor, had a guide price of £200,000,
0:14:08 > 0:14:11which for around here, sounds pretty good to me.
0:14:13 > 0:14:16The flat sits on the ground floor of a four-storey block.
0:14:16 > 0:14:20And with these balcony corridors on the upper levels, it gives them
0:14:20 > 0:14:24a sense of space you wouldn't get with an enclosed corridor.
0:14:25 > 0:14:27So, what do you get for your money?
0:14:29 > 0:14:32Well, first glance. Hm, hm.
0:14:32 > 0:14:34Not in the best state of repair.
0:14:34 > 0:14:37The floor doesn't give a very good impression.
0:14:37 > 0:14:40But let's just look at the layout. Toilet there. Unusual.
0:14:40 > 0:14:44If there's a bathroom as well, then that is not too bad news.
0:14:44 > 0:14:47Two bedrooms. First one, that is a half decent size.
0:14:47 > 0:14:49Lots of storage, which is definitely good for a flat.
0:14:49 > 0:14:51Look, some there, some there.
0:14:51 > 0:14:53I don't know if there is anyway you could maybe take those out
0:14:53 > 0:14:56if you wanted to create a bit more of an open feel.
0:14:56 > 0:14:58Actually, on balance, I think I'd keep them,
0:14:58 > 0:15:00cos storage is at a premium in a flat like this.
0:15:00 > 0:15:04Good-sized second bedroom there.
0:15:04 > 0:15:07Really nice feel here, in the fact that it is dual aspect.
0:15:07 > 0:15:11So the flat spans the whole width of the building,
0:15:11 > 0:15:12So you get light on each side.
0:15:12 > 0:15:14That actually does give it a really nice feel.
0:15:14 > 0:15:17And bathroom there, no toilet, so you might want to play
0:15:17 > 0:15:19around with that to perhaps introduce a toilet in there.
0:15:19 > 0:15:22But then through into the kitchen.
0:15:22 > 0:15:25I mean, it's not massive, but then, neither is the flat in general.
0:15:25 > 0:15:27Proportionally, it works really well.
0:15:27 > 0:15:29A bit of money spent in here.
0:15:29 > 0:15:30All in all...
0:15:32 > 0:15:33..I think it's really good!
0:15:36 > 0:15:39Whoever lived here has certainly stamped their own
0:15:39 > 0:15:43personality on it, and the bathroom design has been done with flair.
0:15:43 > 0:15:45And if you're living in a property, then of course,
0:15:45 > 0:15:48you should have it just the way you want it.
0:15:48 > 0:15:51But for rental or resale, the general rule of thumb is -
0:15:51 > 0:15:52keep it neutral.
0:15:52 > 0:15:56That way, you provide a blank campus for people's imaginations
0:15:56 > 0:15:59and will open up your property to the widest possible market.
0:15:59 > 0:16:02And, well, this just isn't neutral, is it?
0:16:02 > 0:16:04Ew.
0:16:04 > 0:16:07With bold colours in the kitchen and the bathroom
0:16:07 > 0:16:09and baby pink throughout the hall and living room,
0:16:09 > 0:16:12it just isn't going to be to everyone's taste.
0:16:18 > 0:16:21Well, one of the benefits of a ground-floor flat is that
0:16:21 > 0:16:23you've got access to outdoor space.
0:16:23 > 0:16:25In this case, we even get a little balcony.
0:16:27 > 0:16:31It's not exactly staring out across the Serengeti,
0:16:31 > 0:16:35but it is nice to have that outdoor space.
0:16:35 > 0:16:37But look what somebody has done.
0:16:37 > 0:16:41Here is a top NOT decorating tip -
0:16:41 > 0:16:46don't ever think about painting plastic windows,
0:16:46 > 0:16:49cos it'll end up looking like this.
0:16:49 > 0:16:52- SIRENS - Here come the DIY police.
0:16:52 > 0:16:54MUSIC: "Every Breath You Take" by The Police
0:16:54 > 0:16:57Maybe not quite an arrestable offence
0:16:57 > 0:17:00and maybe a bit harsh to say never,
0:17:00 > 0:17:02but you should be cautioned.
0:17:02 > 0:17:05There are products designed to allow you to paint on plastic,
0:17:05 > 0:17:07but you need to know what you are doing.
0:17:07 > 0:17:11So if you must, then do your research, get some advice
0:17:11 > 0:17:16and be warned - if you get it wrong, then it can look, well, like this.
0:17:18 > 0:17:20But this is all just cosmetic stuff.
0:17:20 > 0:17:24Remember that attractive guide price of £200,000.
0:17:26 > 0:17:29We asked a local estate agent to have a look at the flat.
0:17:29 > 0:17:33What did she have to say about the property?
0:17:33 > 0:17:36The positives of this property are two good-sized double bedrooms.
0:17:36 > 0:17:39You've got a little bit of communal gardens at the front,
0:17:39 > 0:17:42but the local communities are just so close to hand.
0:17:42 > 0:17:44You've got bus carriage more or less next door
0:17:44 > 0:17:47and train stations galore as well.
0:17:47 > 0:17:48There is a huge demand
0:17:48 > 0:17:50for properties like this because,
0:17:50 > 0:17:52um, property is in short supply
0:17:52 > 0:17:54in Streatham,
0:17:54 > 0:17:57and lots of people are buying and keeping their properties to rent
0:17:57 > 0:17:59out for future investment.
0:17:59 > 0:18:02So, yeah, we could always use properties like this.
0:18:02 > 0:18:04All great news - good location,
0:18:04 > 0:18:08demand for rental and it also appeals to the first-time
0:18:08 > 0:18:12buyer market. So what could the property fetch if resold?
0:18:12 > 0:18:15Once renovated, this property will achieve in the region
0:18:15 > 0:18:19of £270,000 to £275,000.
0:18:19 > 0:18:22And for rental, who would she expect to live here?
0:18:22 > 0:18:26If this property was rented, it would appeal to young professionals,
0:18:26 > 0:18:29because we've got two good-sized double bedrooms and you would hope
0:18:29 > 0:18:31to achieve anywhere between 1,350 per calendar month
0:18:31 > 0:18:33and 1,400 per calendar month.
0:18:35 > 0:18:39Well, £200,000 doesn't buy you a lot in London these days.
0:18:39 > 0:18:43And yet here, in Streatham Hill, I think an opportunity to get hold
0:18:43 > 0:18:47of a really decent little flat with an opportunity to add value as well.
0:18:47 > 0:18:50Let's see who agreed when it went under the hammer.
0:18:54 > 0:18:56Move on now to lot 98.
0:18:56 > 0:18:58Two-bedroom, ground-floor flat
0:18:58 > 0:18:59in need of modernisation.
0:18:59 > 0:19:03Close to Streatham High Road. Offering it with vacant possession.
0:19:03 > 0:19:05230 anywhere?
0:19:06 > 0:19:09Despite the auction room being packed,
0:19:09 > 0:19:12this lot took a while to get going.
0:19:12 > 0:19:16What about 210? Try and help with a bit of discount.
0:19:16 > 0:19:17210 anywhere?
0:19:19 > 0:19:22Thank you. 210, I've got.
0:19:22 > 0:19:24211 anywhere?
0:19:25 > 0:19:28210 on my right. 211 anywhere?
0:19:28 > 0:19:30211, thank you.
0:19:30 > 0:19:32And when it did get going,
0:19:32 > 0:19:34our cameras didn't manage to catch the bidders.
0:19:34 > 0:19:38We rejoin the auction at £221,000.
0:19:38 > 0:19:41222. 223.
0:19:41 > 0:19:43224. 225 at the back.
0:19:43 > 0:19:45Anybody else?
0:19:45 > 0:19:49If not, 225 for the first.
0:19:49 > 0:19:51225 for the second.
0:19:51 > 0:19:55225 for the third and final time.
0:19:55 > 0:19:56All done?
0:19:57 > 0:19:58Sold, 225.
0:20:00 > 0:20:02Hidden from our camera was Peter,
0:20:02 > 0:20:07who bought the flat with his wife, Christine, for £225,000.
0:20:09 > 0:20:12Peter is an electrician, so that is going to be handy.
0:20:14 > 0:20:18- Peter, nice to meet you. - Nice to meet you.- Congratulations.
0:20:18 > 0:20:20- Thank you.- Tell me why you wanted to buy the flat.
0:20:20 > 0:20:24Well, I didn't actually see it before I...before we bought it.
0:20:24 > 0:20:29- My wife had come to see it.- Ah! - And we decided on a figure for it.
0:20:29 > 0:20:33And so we went on and bought it.
0:20:33 > 0:20:36- Right, is she the property sourcer out of the pair of you?- Um...
0:20:36 > 0:20:40- I mean, she is probably more intelligent than me.- Oh, OK.
0:20:40 > 0:20:43She looks into things a little bit more than me.
0:20:43 > 0:20:45I just go and do the work. I do as I'm told.
0:20:45 > 0:20:47Is this something that the pair of you do, then?
0:20:47 > 0:20:49- Are you property investors? - Not really, no.
0:20:49 > 0:20:53We just wanted to get two or three flats together so we can,
0:20:53 > 0:20:56you know, have a bit of income in our old age, basically.
0:20:56 > 0:21:00- So, is this number one or is this part...?- No, this is number two.
0:21:00 > 0:21:03- Great.- We'd like to get three if we could.
0:21:03 > 0:21:07- We've just sold our house, so we've got a bit of money from that.- Right.
0:21:07 > 0:21:10Hopefully, if we can get three, that should be a little bit,
0:21:10 > 0:21:14plus our pensions, to actually live off of for the next ten years or so.
0:21:14 > 0:21:15Right.
0:21:15 > 0:21:18- Are you happy with what you paid? - Yeah, I think so, yeah. Yeah.
0:21:18 > 0:21:21It's, uh... You know, up for sale,
0:21:21 > 0:21:26I would have much preferred it had been another 25 grand cheaper, but...
0:21:26 > 0:21:28So, what are your plans for this place?
0:21:28 > 0:21:29What are you going to do to it?
0:21:29 > 0:21:33We are going to do a new kitchen, new bathroom, toilet.
0:21:33 > 0:21:37I think, with the toilet, it needs a basin, so I might swing that door
0:21:37 > 0:21:41so that it comes out into the hall, so we can fit a basin in there.
0:21:41 > 0:21:45So then there'd be a basin and a bath in the bathroom
0:21:45 > 0:21:47- and a toilet and a basin in the other.- Right.
0:21:47 > 0:21:52And then just tile, you know, laminate the floors in the bathroom,
0:21:52 > 0:21:54toilet. Kitchen.
0:21:54 > 0:21:56- And probably carpet the rest.- Right.
0:21:56 > 0:22:00It is quite echoing and quite noisy, isn't it?
0:22:00 > 0:22:02I think carpets would be the best thing.
0:22:02 > 0:22:06- That might absorb some of the noise from outside, perhaps.- Yep.
0:22:06 > 0:22:10- I might put carpet on the walls as well.- Blimey! Really?!- No.
0:22:10 > 0:22:11Lovely(!)
0:22:11 > 0:22:14But, obviously, it's got double glazing at the moment.
0:22:14 > 0:22:18- You almost feel like it needs triple glazing, don't you?- Yes.
0:22:18 > 0:22:19I mean, we won't go to that.
0:22:19 > 0:22:21I don't know if you've noticed,
0:22:21 > 0:22:25- but all the windows and doors have actually been painted.- Yes.
0:22:25 > 0:22:28- On the plastic. - Which is a bit of a pain.
0:22:28 > 0:22:31But I did have a word about that with my painter yesterday.
0:22:31 > 0:22:34He said he can get some special paint and sort that out
0:22:34 > 0:22:37- and it won't be... It's not going to fall off, basically.- Right.
0:22:37 > 0:22:39You can't clean it off, then, with solvents?
0:22:39 > 0:22:42He doesn't seem to think that that's very viable.
0:22:44 > 0:22:47Sorting out the bad paint job will be a massive improvement,
0:22:47 > 0:22:49particularly the ones painted red,
0:22:49 > 0:22:52as will sorting out the current toilet arrangement.
0:22:52 > 0:22:55I mean, it's not very hygiene to have a loo and nowhere to
0:22:55 > 0:22:57wash your hands.
0:23:02 > 0:23:05However, Peter is certainly going to make the best of the space
0:23:05 > 0:23:07here, by the sounds of it.
0:23:07 > 0:23:09Not a bad size flat, is it?
0:23:09 > 0:23:14No, it is a nice size, isn't it? I mean, the lounge's a reasonable size.
0:23:14 > 0:23:16Both of the bedrooms are about the same size,
0:23:16 > 0:23:19- but they're nice-sized sort of double bedrooms, aren't they?- Yeah.
0:23:19 > 0:23:22So, I'm sure it will rent out easy.
0:23:22 > 0:23:24- And that's the plan, is it, to rent it out?- It is, yeah.
0:23:24 > 0:23:28We don't want to sell it on, we just want to get some rent back.
0:23:28 > 0:23:31Get, you know, a regular income coming in.
0:23:31 > 0:23:33So what is the budget?
0:23:33 > 0:23:36- The budget, I would think about ten grand.- OK.
0:23:36 > 0:23:39That is quite healthy, really, cos there isn't much to do, is there?
0:23:39 > 0:23:41- No, not really, no.- Right.
0:23:41 > 0:23:43And the timescale?
0:23:43 > 0:23:46Um, originally, I was thinking, as long as it is done inside
0:23:46 > 0:23:50- eight weeks, but I really think like four to six weeks, really.- OK.
0:23:50 > 0:23:52Are you going to get somebody in?
0:23:52 > 0:23:54Yeah. I mean, even if I was doing it myself,
0:23:54 > 0:23:57you know, I'm the decorator, I get someone else to do it all the time.
0:23:57 > 0:24:00I sometimes get involved in stripping down the walls,
0:24:00 > 0:24:03but, you know, I find it quite boring just doing the painting,
0:24:03 > 0:24:07so I've got a good mate who does that. So, yeah.
0:24:07 > 0:24:09So, he'll do all that for me,
0:24:09 > 0:24:11and do a good job, a better job than what I can do.
0:24:11 > 0:24:14- Listen, congratulations. Good luck with it.- Thank you.
0:24:14 > 0:24:17- I look forward to seeing how you get on.- OK, thanks.
0:24:19 > 0:24:23So, Peter buying this place on the recommendation of his wife, often
0:24:23 > 0:24:27a very good way to go, and adding it to their property portfolio.
0:24:27 > 0:24:29How will he get on sorting it out?
0:24:29 > 0:24:32You can find out later in the show.
0:24:32 > 0:24:36Coming up, in Cornwall, I find the ultimate in tranquillity.
0:24:36 > 0:24:42I mean, does anything get more idyllic than this?
0:24:45 > 0:24:48And back in South London, we check on the progress of Peter's
0:24:48 > 0:24:50flat, which has become a family affair.
0:24:50 > 0:24:54My daughter and my wife have been helping me here, um,
0:24:54 > 0:24:57giving me a bit of grief, telling me what to do.
0:25:02 > 0:25:05Back now to Gillingham in Kent, where earlier,
0:25:05 > 0:25:08we met retired builder Tony and his son, Luke, who
0:25:08 > 0:25:13spent £111,000 at auction on this three-bedroom terraced house.
0:25:16 > 0:25:20- Let's talk about downstairs.- Mm. - You've got some rooms...
0:25:20 > 0:25:22You know, you've got a lovely, big room to the front,
0:25:22 > 0:25:24this one that we are standing in, what do you think?
0:25:24 > 0:25:27Well, knocking this wall down there,
0:25:27 > 0:25:30to make this an open-plan lounge-diner.
0:25:30 > 0:25:32But the kitchen and the bathroom,
0:25:32 > 0:25:36I've been... Taped measured, and drawings, and looking around...
0:25:36 > 0:25:40And I just don't really know what I'm going to do yet, really.
0:25:40 > 0:25:44And that bathroom downstairs was, mm, well, to say the least...
0:25:44 > 0:25:45Eccentric.
0:25:45 > 0:25:49There's a piece of wall missing from ceiling to there!
0:25:50 > 0:25:54Tony and Luke have budgeted 10,000 and given themselves six
0:25:54 > 0:25:57months to renovate this house to sell on.
0:25:57 > 0:26:0013 months have now passed and we are back to see if this father
0:26:00 > 0:26:04and son team have managed to knock doors out of windows.
0:26:04 > 0:26:06# I want to be
0:26:08 > 0:26:09# Sledgehammer! #
0:26:11 > 0:26:14# Sledge, sledge! #
0:26:14 > 0:26:16Well, there is certainly a wall missing here,
0:26:16 > 0:26:20but it is the one between the dining room and this lovely new kitchen.
0:26:20 > 0:26:23And it looks like all that measuring has paid off,
0:26:23 > 0:26:26with this new utility and bathroom.
0:26:28 > 0:26:33And they've even followed my advice and moved the back door.
0:26:33 > 0:26:38What happened to Tony's plan to open up the lounge and dining room?
0:26:38 > 0:26:42Most of the houses around here have knocked the lounge into one big
0:26:42 > 0:26:45lounge, and I wanted to be a little bit different.
0:26:45 > 0:26:49And I think the result is excellent.
0:26:49 > 0:26:52I certainly wouldn't argue there.
0:26:52 > 0:26:56Were there any more unexpected changes to the plan?
0:26:56 > 0:26:58One of the main ones was in the bathroom.
0:26:58 > 0:27:01We increased the height of the ceiling by about two foot.
0:27:01 > 0:27:05Reason being is when we moved the bathroom out to the back room,
0:27:05 > 0:27:07if we were stood in the bath, having a shower, we are
0:27:07 > 0:27:11six foot plus, so our heads would've been touching the ceiling.
0:27:11 > 0:27:15So we made it a bit more practical for anyone who buys the property.
0:27:15 > 0:27:18I'm just glad they banished the gap above the door.
0:27:18 > 0:27:22Now I seem to remember that Luke, a lifetime apprentice to his dad,
0:27:22 > 0:27:26said he would just follow Dad's instructions.
0:27:26 > 0:27:28Hm, now how did that work out?
0:27:28 > 0:27:32Yeah, we had a bit of a joint input in terms of where things have
0:27:32 > 0:27:34gone, what we have done with the walls and decoration,
0:27:34 > 0:27:37but ultimately,
0:27:37 > 0:27:40Dad will be getting any profit, so I just do what he says.
0:27:40 > 0:27:43And hope he hands it down.
0:27:43 > 0:27:48Well, since you mentioned money, the original budget was £10,000.
0:27:48 > 0:27:49How did that fare?
0:27:50 > 0:27:54Well, we've ended up spending £20,000,
0:27:54 > 0:27:56which was double my original estimate.
0:27:56 > 0:28:01There was a lot of extra work involved than what I thought.
0:28:01 > 0:28:03New paths, new drainage,
0:28:03 > 0:28:07you name it, everything was new. And um...
0:28:07 > 0:28:08Just went over budget.
0:28:09 > 0:28:13Keeping the costs down is the key to making a good profit, but in
0:28:13 > 0:28:17the end, there is no point scrimping on the work that has to be done.
0:28:17 > 0:28:21And with all that extra work, how did their six-month timescale fare?
0:28:22 > 0:28:26The project's taken us just over a year, which was, again,
0:28:26 > 0:28:29double our original estimate. We seem to have doubled everything.
0:28:29 > 0:28:32If we can double the profit, that'd be even better.
0:28:32 > 0:28:34Um, reason being, I think it is
0:28:34 > 0:28:37because of all the extra work that we hadn't really accounted for.
0:28:37 > 0:28:40We've had to replace floors in the kitchen,
0:28:40 > 0:28:42replace the roof out the back.
0:28:42 > 0:28:45And it is all little things like that that take you about
0:28:45 > 0:28:47an extra two or three weeks, and they have all added up
0:28:47 > 0:28:51and just extended the timescale of the project.
0:28:51 > 0:28:54Oh, dear, double the budget and the timescale.
0:28:54 > 0:28:57But they have transformed this house!
0:28:57 > 0:28:59So, how has this father
0:28:59 > 0:29:02and son team enjoyed working on this project together?
0:29:02 > 0:29:04I've enjoyed it.
0:29:04 > 0:29:06- I don't know about you.- Some of it.
0:29:08 > 0:29:11- The end is quite good.- Yeah.
0:29:11 > 0:29:13The beginning is awful.
0:29:13 > 0:29:15It is a nice feeling, when you come in here
0:29:15 > 0:29:18and look at this place now and you think what it was before.
0:29:18 > 0:29:21There has been a lot done and it shows.
0:29:23 > 0:29:26Tony bought this house for £111,000
0:29:26 > 0:29:29and has spent 20 grand on renovations.
0:29:29 > 0:29:32We invited two local property experts around
0:29:32 > 0:29:36to see what they think, starting with the one we saw last time.
0:29:36 > 0:29:40I think this property will appeal to two main people -
0:29:40 > 0:29:43your investor who wants a property where
0:29:43 > 0:29:46he doesn't have to do anything and he can rent it out -
0:29:46 > 0:29:50the yield would be excellent - and your first-time buyer,
0:29:50 > 0:29:51who wants to buy a property
0:29:51 > 0:29:54and, again, doesn't want to do too much to it -
0:29:54 > 0:29:57he wouldn't have to do nothing, he could really move straight into it.
0:29:57 > 0:30:00I've had a good look round the house today, it's a super house.
0:30:00 > 0:30:02It is a lovely refurbishment.
0:30:02 > 0:30:04Exactly what people come here to buy.
0:30:06 > 0:30:07Both very positive,
0:30:07 > 0:30:11but what do they think it could achieve on the rental market?
0:30:11 > 0:30:14This property would easily rent for £800 per calendar month.
0:30:14 > 0:30:20I think this property could rent for a figure of £750 per calendar month.
0:30:20 > 0:30:22Yeah, that's not bad, to be honest.
0:30:22 > 0:30:24That's quite a generous rental.
0:30:24 > 0:30:27But again, I think it is done up too nice to rent out,
0:30:27 > 0:30:29just in case anything happens to it.
0:30:29 > 0:30:33It's better to get it off our hands and move on to the next one.
0:30:34 > 0:30:37Tony has spent a total of 131,000.
0:30:37 > 0:30:40The agent who came to see this house before renovations reckoned
0:30:40 > 0:30:44it could sell for 125,000.
0:30:44 > 0:30:48Will having doubled his budget have impacted on Tony's profit?
0:30:48 > 0:30:50Will he still be relaxed?
0:30:50 > 0:30:54I think this property could sell for a figure between £130,000
0:30:54 > 0:30:56and £150,000.
0:30:56 > 0:31:00We would look to sell this property for about £165,000.
0:31:00 > 0:31:03Wow! And relax.
0:31:03 > 0:31:05Those are very different valuations.
0:31:05 > 0:31:07What do Luke and Tony make of them?
0:31:07 > 0:31:11About 150, 155, I think, personally.
0:31:11 > 0:31:13I agree.
0:31:13 > 0:31:15We've seen a lot of properties up this road
0:31:15 > 0:31:17and nearby go for the 150 mark,
0:31:17 > 0:31:21and this is by far a better layout and done to a better standard, so
0:31:21 > 0:31:25I think we are going to come on to a bit of a premium for this place.
0:31:26 > 0:31:31If Tony and Luke are right, £155,000 would give them
0:31:31 > 0:31:36a profit of 24,000, minus all the usual taxes and fees.
0:31:36 > 0:31:38So, what is next?
0:31:38 > 0:31:39We're doing my house next.
0:31:39 > 0:31:42It's what we're planning, or what I'm planning,
0:31:42 > 0:31:45- honestly.- That's news to me.
0:31:45 > 0:31:47But you're supposed to be retired, Tony!
0:31:47 > 0:31:50Isn't it time for the pipe and slippers?
0:31:50 > 0:31:54No, not yet, I'm going to do something else and then
0:31:54 > 0:31:58probably look around for another property and have another shot at it.
0:31:58 > 0:31:59And then retire.
0:32:06 > 0:32:09Well, if you do fancy a rest, you could do worse than spending
0:32:09 > 0:32:12a bit of time here, in beautiful Cornwall.
0:32:14 > 0:32:18I'm in Bodmin, one of the oldest towns in the county,
0:32:18 > 0:32:20which explains the impressive architecture,
0:32:20 > 0:32:23some of which has been beautifully restored.
0:32:23 > 0:32:26I'm hoping the property I'm here to see today will have as much
0:32:26 > 0:32:28character.
0:32:28 > 0:32:32Well, a couple of miles from Bodmin is the little hamlet of Dunmere, and
0:32:32 > 0:32:35an absolutely gorgeous little spot it is as well -
0:32:35 > 0:32:38lots of trees, a river...
0:32:38 > 0:32:41And a house to match? Well...
0:32:41 > 0:32:43It looks pretty good from the outside.
0:32:43 > 0:32:46A really substantial three-bedroom, detached property at a guide
0:32:46 > 0:32:49price of 235,000 quid.
0:32:50 > 0:32:52Let's go inside!
0:32:52 > 0:32:56Just before we do, a few things to take note of on the outside.
0:32:58 > 0:33:01There is a garage, that's handy.
0:33:01 > 0:33:04There's a lane going past your front door that is shared with
0:33:04 > 0:33:07the neighbours, though there aren't many of those.
0:33:07 > 0:33:11Probably getting a bit more use is the famous Camel Trail,
0:33:11 > 0:33:15an 18-mile disused railway line, which attracts walkers,
0:33:15 > 0:33:19cyclists and horse riders, and runs along the back of the property.
0:33:24 > 0:33:27So, is it as delightful inside?
0:33:27 > 0:33:30Ah... Let's find out.
0:33:30 > 0:33:33Through the front door, you've got stairs up to the bedrooms.
0:33:33 > 0:33:35It feels reasonably spacious here.
0:33:35 > 0:33:37Over that side, a kitchen.
0:33:37 > 0:33:41It looks a little bit dated, but it's not a bad size.
0:33:41 > 0:33:42Um... Ergh.
0:33:42 > 0:33:46I don't like this cladding, it makes it feel very dark.
0:33:46 > 0:33:48But then you come into this living room area.
0:33:48 > 0:33:54And while you might not particularly like the colours - the browns
0:33:54 > 0:33:58and the dark reds - but everything is in really fantastic condition.
0:33:58 > 0:34:01Nice curtains, this amazing feature fireplace.
0:34:01 > 0:34:04Wow, that is a feature and a half, isn't it?
0:34:04 > 0:34:06Actually, talking of halves, I would probably chop it in half
0:34:06 > 0:34:11and maybe keep the fire end of it and possibly lose this.
0:34:11 > 0:34:15But I mean, in terms of living up to expectations,
0:34:15 > 0:34:18yeah, it's great!
0:34:18 > 0:34:21Clean as a proverbial whistle.
0:34:21 > 0:34:24Oh, I do love viewing a well-cared-for home.
0:34:24 > 0:34:28There is even a utility room off the kitchen for extra practicality
0:34:28 > 0:34:30and a loo under the stairs.
0:34:30 > 0:34:32You really could move in as it is.
0:34:32 > 0:34:36On the upper floor, there are three bedrooms -
0:34:36 > 0:34:38a very good-sized double at the front
0:34:38 > 0:34:41and a smaller one to the back.
0:34:41 > 0:34:45And the family bathroom, again, spotless, if a little old-fashioned.
0:34:45 > 0:34:49Then... It really is a bit of a rabbit warren, this place.
0:34:49 > 0:34:52Over that side of the stairs, two bedrooms.
0:34:52 > 0:34:55Then you come to this side, where you find the master bedroom.
0:34:55 > 0:34:57And how lovely is this?
0:34:57 > 0:35:00Obviously, get rid of some of the furniture,
0:35:00 > 0:35:04the built-in wardrobes and all that kind of stuff. This is the en-suite.
0:35:04 > 0:35:08It might not be to everyone's taste, but absolutely lovely condition.
0:35:08 > 0:35:13Tiling all nicely done. Big sort of whirlpool bath thing going on there.
0:35:13 > 0:35:17And as if that isn't enough, something you very rarely see -
0:35:17 > 0:35:22doors from the bathroom out, onto the balcony.
0:35:22 > 0:35:25Just make sure you remember to wear a bathrobe.
0:35:25 > 0:35:28Otherwise, you give the neighbours a bit of a shock.
0:35:28 > 0:35:30While it might be slightly strange to have this
0:35:30 > 0:35:34balcony off the en-suite, it is a lovely thing to have.
0:35:34 > 0:35:37OK, you could rearrange the bedroom, so this side
0:35:37 > 0:35:41is off your master, and switch the en-suite elsewhere, but, hey,
0:35:41 > 0:35:43I'd be inclined to leave it where it is and just see
0:35:43 > 0:35:45it as a rather quirky added extra.
0:35:47 > 0:35:51But if you were impressed already, head out of the house, over the
0:35:51 > 0:35:56road, and I've got something to show you that will blow your socks off.
0:35:57 > 0:36:01Well, yes, the house is separated from its garden by that
0:36:01 > 0:36:04little road, but once you get here,
0:36:04 > 0:36:06you really do not care,
0:36:06 > 0:36:13because it is quite simply one of the most spectacular gardens
0:36:13 > 0:36:15I've seen while I've been doing the show.
0:36:16 > 0:36:20OK, it is a steep climb down, but it is stunning.
0:36:20 > 0:36:24Carved into the side of the hill and landscaped with plants
0:36:24 > 0:36:28and flowers, this has obviously been someone's pride and joy.
0:36:28 > 0:36:32It feels very Himalayan, a world away from the everyday lawns
0:36:32 > 0:36:35and patios and flowerbeds.
0:36:35 > 0:36:41I mean, does anything get more idyllic than this?
0:36:41 > 0:36:44And this garden alone
0:36:44 > 0:36:46would have taken years
0:36:46 > 0:36:50and you could easily have blown six figures doing this, honestly!
0:36:51 > 0:36:54As it is, somebody has done it, and it is amazing.
0:36:57 > 0:36:58I'm a goner.
0:36:59 > 0:37:01Magical. That's all I can say.
0:37:01 > 0:37:05How many houses come with a secret hideaway of their very own
0:37:05 > 0:37:07right on the water's edge?
0:37:07 > 0:37:10This house is not for everyone.
0:37:10 > 0:37:12The road will put some people off. The fact that your garden is
0:37:12 > 0:37:15not right outside your front door will deter others.
0:37:15 > 0:37:18Plenty won't like the steep steps down the garden.
0:37:18 > 0:37:21But if you don't care about those things, if you want a really
0:37:21 > 0:37:26solid, big house, with a sensational piece of land and your own river
0:37:26 > 0:37:30frontage, well, I don't think there are many places around like this.
0:37:33 > 0:37:37# Downriver, downriver
0:37:37 > 0:37:42# Downriver, down... #
0:37:42 > 0:37:44We asked a local agent along
0:37:44 > 0:37:46to see what he thought.
0:37:47 > 0:37:50It's an interesting place when you drive up towards it.
0:37:50 > 0:37:52It is well away from the road.
0:37:52 > 0:37:54There is quite a busy road at the end of the drive,
0:37:54 > 0:37:56but you're elevated from it,
0:37:56 > 0:37:58so it doesn't feel like you're anywhere near it.
0:37:58 > 0:38:00It is a good-sized house, actually.
0:38:00 > 0:38:05But generally, it does need a fair bit of modernising - things
0:38:05 > 0:38:08like kitchens and bathrooms are showing signs of wear and age now.
0:38:08 > 0:38:10So, it is a bit of a project.
0:38:10 > 0:38:11The thing that strikes me
0:38:11 > 0:38:15most about this property is probably the garden, which admittedly,
0:38:15 > 0:38:17is situated on the other side of the road,
0:38:17 > 0:38:19so, OK, could be a small drawback for some people.
0:38:19 > 0:38:24But it is beautiful. It is just the highlight for me.
0:38:24 > 0:38:27Yes, the agent is a goner over the garden, too.
0:38:27 > 0:38:30But let's put the magic aside and do the numbers thing.
0:38:30 > 0:38:34If this house was updated, how much could it sell for?
0:38:34 > 0:38:36If all the work was undertaken here,
0:38:36 > 0:38:39I would say an asking price of 285,000.
0:38:39 > 0:38:41And what about the rental market?
0:38:41 > 0:38:44You're looking at around £850 per calendar month
0:38:44 > 0:38:46in its current condition.
0:38:46 > 0:38:49Well, the house itself is in great condition.
0:38:49 > 0:38:52It offers loads of options and potential.
0:38:52 > 0:38:57But it is this garden that just turns it into a truly
0:38:57 > 0:39:00spectacular auction lot.
0:39:00 > 0:39:04Let's see who fell in love when it went under the hammer.
0:39:04 > 0:39:06Lot 111.
0:39:06 > 0:39:10Here we have a freehold, three-bed detached, character cottage.
0:39:10 > 0:39:11It is adjacent to the Camel Trail.
0:39:11 > 0:39:14Going price here is 235.
0:39:14 > 0:39:16I'm on the book at 235, that is where we are going to start.
0:39:16 > 0:39:21Straight off at 235. I'm in action, where are you, ladies and gentlemen?
0:39:21 > 0:39:23I've got 235 here. 240?
0:39:23 > 0:39:26240. I have 245 here. 250?
0:39:28 > 0:39:29250 here.
0:39:29 > 0:39:31Yeah? Sure? I'm out here.
0:39:31 > 0:39:33You're in there at 250.
0:39:33 > 0:39:36It is with the rest of you now, ladies and gentlemen. At 250 here.
0:39:36 > 0:39:38Any advance on 250?
0:39:38 > 0:39:41Moment to think. I won't put you through too much pain.
0:39:41 > 0:39:44Bidding on the curtain there at 250.
0:39:44 > 0:39:45Sure we're all done?
0:39:45 > 0:39:49First, second, third. Last time at £250,000, seated.
0:39:51 > 0:39:53Yours at £250,000. Congratulations.
0:39:53 > 0:39:56I know you've come a long way, so I'm delighted for you two.
0:39:56 > 0:39:59And don't they look thrilled?!
0:40:01 > 0:40:06Getting a bit of Cornish magic for £250,000 are Valerie and Kevin,
0:40:06 > 0:40:10who currently live in Hampshire and plan to get married next year.
0:40:10 > 0:40:15And where else to meet them but in this wonderful garden?
0:40:15 > 0:40:17- Congratulations. - BOTH: Thank you.
0:40:17 > 0:40:19- Can I buy your garden, please?- No!
0:40:19 > 0:40:23- No.- Please?- No, no!- Please?- No!
0:40:23 > 0:40:25It's all ours.
0:40:25 > 0:40:27What did you think when you first saw this?
0:40:27 > 0:40:31- It really struck our hearts in the middle, didn't it?- It did.
0:40:31 > 0:40:36We came down to the bottom of the garden here, sat by the water,
0:40:36 > 0:40:39looked back up at the house and thought...
0:40:39 > 0:40:42- I don't know, you can't explain it, really.- Well, I've experienced it.
0:40:42 > 0:40:44- I mean, it's a magical spot, isn't it?- It is.
0:40:44 > 0:40:47- Why have you bought it? - We wanted a home of our own.
0:40:47 > 0:40:49That's right, yeah.
0:40:49 > 0:40:53I'm selling my place at the moment and Valerie has sold hers.
0:40:53 > 0:40:56We have also thrown all our cards in the air.
0:40:56 > 0:40:58I've given up my job.
0:40:58 > 0:40:59I've given up my job.
0:40:59 > 0:41:01And we're going to try and make a go of it down here.
0:41:01 > 0:41:04Wow! So what were you doing until recently?
0:41:04 > 0:41:09Until last Friday, I was a facility's maintenance engineer.
0:41:09 > 0:41:11- Last Friday?- Last Friday.
0:41:11 > 0:41:12And Valerie?
0:41:12 > 0:41:15I was an estate agent.
0:41:15 > 0:41:18THEY LAUGH
0:41:18 > 0:41:21- OK.- I can't say I was too sorry to get away from that job.
0:41:21 > 0:41:25So, what's prompted this...pretty radical change of life?
0:41:27 > 0:41:30- If you don't do it, you'll always wonder.- Yeah.
0:41:30 > 0:41:31We just want a change of life.
0:41:31 > 0:41:35# The dog days are over
0:41:35 > 0:41:37# The dog days are done
0:41:37 > 0:41:40# The horses are coming
0:41:40 > 0:41:44# So, you better run. #
0:41:44 > 0:41:48What a glorious place to make a new start!
0:41:48 > 0:41:50Since meeting at Avebury Stone Circle
0:41:50 > 0:41:52at the winter solstice three years ago,
0:41:52 > 0:41:57Kevin and Valerie feel that all roads have led to this new home.
0:41:57 > 0:42:01I want to do healing because that's what I'm qualified to do.
0:42:01 > 0:42:02What kind of healing?
0:42:02 > 0:42:04- Spiritual healing.- Right. Yeah.
0:42:04 > 0:42:06And meditation.
0:42:06 > 0:42:09I teach meditation and I think here would just be a perfect place.
0:42:09 > 0:42:12It... Yeah, even if you're not into that kind of stuff,
0:42:12 > 0:42:14you come here and you almost want to meditate.
0:42:14 > 0:42:16- It forces you to meditate. - Yeah, absolutely!
0:42:16 > 0:42:18- And...- The dowsing as well. - I do dowsing.
0:42:18 > 0:42:21Well, you're not going to have difficulty doing the dowsing.
0:42:21 > 0:42:23- There's loads of...- Boom! There you go.
0:42:23 > 0:42:24THEY LAUGH
0:42:24 > 0:42:26And...
0:42:26 > 0:42:28We want to do a bit of bed and breakfast
0:42:28 > 0:42:30- as a bit of a sideline as well. Just...- Yeah.
0:42:30 > 0:42:33We're going to have a go at anything that brings a bit of income in.
0:42:33 > 0:42:34- Yeah.- We'll have a go.
0:42:34 > 0:42:37The house, then. Let's start with that. What do you think about it?
0:42:37 > 0:42:39We walked in there and I mean, it felt like
0:42:39 > 0:42:41it had been a really well-loved home.
0:42:41 > 0:42:44You know, the people that had lived there
0:42:44 > 0:42:47had obviously put a lot of work into it, you know, during their time.
0:42:47 > 0:42:51And although, OK, it's getting a little dated in places,
0:42:51 > 0:42:54but it's very liveable
0:42:54 > 0:42:57and we'll just gradually put our own personality on it as and when.
0:42:57 > 0:43:00- And then the garden?- Over this side, we're going to have the log...
0:43:00 > 0:43:03One log cabin up there and a nice big...
0:43:03 > 0:43:05- At the top over there... - Love healing.
0:43:05 > 0:43:09That's a healing cabin. A nice...nice-looking place.
0:43:09 > 0:43:12And then, we want to actually cut the garden,
0:43:12 > 0:43:15so we have a meandering path coming down, but there's lots of ideas.
0:43:15 > 0:43:17It's... Again, it's so much to look at
0:43:17 > 0:43:20it's difficult to know where to start, really.
0:43:20 > 0:43:24Well, these two have plenty of time to ponder. They're in no rush.
0:43:24 > 0:43:27They know from a structural survey that the house is sound
0:43:27 > 0:43:32and the only big job is that the septic tank needs replacing.
0:43:32 > 0:43:35And they do have an ambitious plan for the future
0:43:35 > 0:43:38making the kitchen bigger by knocking into the garage.
0:43:38 > 0:43:43But they've got £30,000 to spend. OK, I'm going to have one last go.
0:43:43 > 0:43:48- And I can't persuade you to sell me the garden?- No.- It's ours!
0:43:48 > 0:43:50Well, listen, congratulations.
0:43:50 > 0:43:51- I'm really delighted...- Thank you.
0:43:51 > 0:43:54..the house has found somebody lovely to enjoy it.
0:43:54 > 0:43:58Well, if ever there was a perfect pairing of property
0:43:58 > 0:44:03and purchasers, it's this place and Valerie and Kevin.
0:44:03 > 0:44:06I'm not surprised their heart skipped a beat when they saw it,
0:44:06 > 0:44:11but what a lifestyle change they are going through.
0:44:11 > 0:44:12How exciting!
0:44:12 > 0:44:15You can find out how it all turns out later in the show.
0:44:20 > 0:44:23Well, the seasons have changed. Have the properties changed as well?
0:44:23 > 0:44:28Or have they remained exactly the same? It's the moment of truth.
0:44:28 > 0:44:29Let's find out.
0:44:33 > 0:44:35Back now to Streatham Hill in South London
0:44:35 > 0:44:38in this rather bold two-bedroom flat bought
0:44:38 > 0:44:42by electrician Peter at auction for 225,000.
0:44:43 > 0:44:45Peter was planning to spend four to six weeks
0:44:45 > 0:44:49and £10,000 doing the property up.
0:44:49 > 0:44:50So, what are your plans for this place?
0:44:50 > 0:44:52What are you going to do to it?
0:44:52 > 0:44:56Erm, we're going to do a new kitchen, new bathroom, toilet.
0:44:56 > 0:44:59- It is quite echo-y and quite noisy, isn't it?- I think...
0:44:59 > 0:45:01I think carpet would be the best thing.
0:45:01 > 0:45:04And that might absorb some of the noise from outside, perhaps.
0:45:04 > 0:45:08Yeah. Yeah. I might put carpet on the walls as well.
0:45:08 > 0:45:11- Blimey! Really?- No.- Lovely(!)
0:45:11 > 0:45:14Peter was going to need that sense of humour
0:45:14 > 0:45:16with some of the paint work he had to remedy.
0:45:16 > 0:45:20Painted uPVC windows not good.
0:45:20 > 0:45:23Peter and his wife Christine had bought this flat to rent out
0:45:23 > 0:45:25and this was the second property
0:45:25 > 0:45:29in what they hope will be their retirement fund portfolio.
0:45:29 > 0:45:31Peter reckoned on a four-to-six week timescale
0:45:31 > 0:45:35and so, four weeks later, we're back to see how far he's got
0:45:35 > 0:45:38and by the look of things, that's a long way.
0:45:42 > 0:45:46Thankfully, the new carpets have remained on the floor.
0:45:47 > 0:45:51That rather dismal kitchen is now clean and crisp.
0:45:52 > 0:45:56Peter's plan to sort out the awkward bathroom arrangements
0:45:56 > 0:45:58have approved the flat no end.
0:45:58 > 0:46:02We now have a neat, handy loo with washbasin
0:46:02 > 0:46:05and a modern, family-sized bathroom.
0:46:05 > 0:46:07And remember what I said about neutral?
0:46:07 > 0:46:11Well, this is just the job and the story continues in the bedrooms.
0:46:14 > 0:46:17I'm guessing Peter has had a very busy schedule.
0:46:17 > 0:46:24I put new bathroom, toilet, kitchen and flooring throughout.
0:46:24 > 0:46:29Wooden flooring through the hallways into the kitchen, bathroom
0:46:29 > 0:46:31and carpets in the bedrooms and the lounge.
0:46:31 > 0:46:37- Anything else, Peter?- New doors, new boiler added a couple of racks.
0:46:37 > 0:46:39I put a towel rail in the bathroom.
0:46:39 > 0:46:43That's an awful lot of work in just four weeks.
0:46:43 > 0:46:46- How's he managed to pull it off?- My mate Roy did...
0:46:46 > 0:46:50He does all my decorating for me, an old school friend of mine.
0:46:50 > 0:46:53And a chap called Bob who...
0:46:53 > 0:46:56Well, he's been a friend since just after school
0:46:56 > 0:46:58and he does the plumbing.
0:46:58 > 0:47:03So, yeah, and my daughter and my wife have been helping me here.
0:47:03 > 0:47:07Giving me a bit of grief, telling me what to do. Erm, yeah.
0:47:07 > 0:47:10So, yeah, that was quite fun.
0:47:10 > 0:47:12So, quite the team effort, then.
0:47:12 > 0:47:15But what about those painted, plastic windows?
0:47:15 > 0:47:17Did Peter manage to come to a solution there?
0:47:19 > 0:47:21We just painted it.
0:47:21 > 0:47:24You know, we cleaned up on the outside and we painted the inside.
0:47:24 > 0:47:26My painter did that for me.
0:47:26 > 0:47:29He...he does a good job. He puts all the right stuff on it
0:47:29 > 0:47:32and undercoats and primes it and everything else,
0:47:32 > 0:47:35so, yeah, he did all of that for me.
0:47:35 > 0:47:39Peter and his team have done a fantastic job throughout this house,
0:47:39 > 0:47:42but are there any jobs that still need to be finished?
0:47:42 > 0:47:45I've just finished the sealing around the bath
0:47:45 > 0:47:48and I've just got some edging round the floor to do
0:47:48 > 0:47:52and just curtains and blinds to go up, really.
0:47:52 > 0:47:54That's a handy tip. If you're sealing the bath,
0:47:54 > 0:47:58do it when it's full for best results.
0:47:58 > 0:48:01By the time I'm finished this weekend,
0:48:01 > 0:48:03it will be exactly four weeks,
0:48:03 > 0:48:05which, you know, is not bad.
0:48:05 > 0:48:08Not bad, but it's been hard work, so...
0:48:08 > 0:48:10And all that hard work's paid off
0:48:10 > 0:48:13as Peter's has already found some tenants.
0:48:13 > 0:48:16This estate agent came round and he said,
0:48:16 > 0:48:19"Oh, do you mind if I bring someone in?" So, all right.
0:48:19 > 0:48:21He's brought two people... Two loads of people in.
0:48:21 > 0:48:23When the second person came in
0:48:23 > 0:48:26and they put a deposit down that afternoon.
0:48:26 > 0:48:31And to... And it was as much as what we wanted, so...
0:48:31 > 0:48:34So, Peter's managed to bring this renovation in
0:48:34 > 0:48:36well within his four-to-six week timescale
0:48:36 > 0:48:39and he already has tenants lined up.
0:48:39 > 0:48:42But has he managed to do it on budget?
0:48:42 > 0:48:45Yeah, I mean, we originally said about 10,000
0:48:45 > 0:48:51and I think it was 10,000. It might be 10,200, something like that.
0:48:51 > 0:48:54I always thought that £10,000-budget was pretty realistic
0:48:54 > 0:48:57and it looks like he spent it wisely.
0:48:57 > 0:49:01Will two local estate agents think so, too?
0:49:01 > 0:49:03Fantastic. The property is fantastic
0:49:03 > 0:49:06especially in such a short space of time.
0:49:06 > 0:49:08The property would definitely suit young professionals.
0:49:08 > 0:49:10I think the owner's done very well.
0:49:10 > 0:49:13He's kept it neutral throughout and the finish of the kitchen
0:49:13 > 0:49:15and the bathroom are actually very good.
0:49:15 > 0:49:18Peter is set on renting this property
0:49:18 > 0:49:20as part of his pension portfolio,
0:49:20 > 0:49:22but what if he and his wife Christine
0:49:22 > 0:49:24decide to put it on the market?
0:49:24 > 0:49:27What do the agents think this property could sell for?
0:49:27 > 0:49:28Would it make a profit?
0:49:30 > 0:49:35He spent £10,200 renovating the property he bought for 225,000
0:49:35 > 0:49:40taking his total investment to £235,200.
0:49:42 > 0:49:45If I was...to put the property on for marketing,
0:49:45 > 0:49:50the property would be priced between £270,000 and £275,000.
0:49:50 > 0:49:56We believe this property would sell for between £260,000 and £270,000.
0:49:56 > 0:50:00There's one that's going around this area for 275, so, you know,
0:50:00 > 0:50:03I would think that's about right, but, you know, we're not selling.
0:50:03 > 0:50:08That top valuation could mean a potential profit of £40,000
0:50:08 > 0:50:10minus the usual taxes and expenses.
0:50:10 > 0:50:13But Peter already has a tenant.
0:50:13 > 0:50:14Is he getting the market rate?
0:50:14 > 0:50:17What do the agents think he should be asking?
0:50:17 > 0:50:21If we were putting this property on the market for rental purposes,
0:50:21 > 0:50:22we would market the property
0:50:22 > 0:50:27at between 1,300 and 1,350 per calendar month.
0:50:27 > 0:50:31We expect this property to rent for £1,325.
0:50:31 > 0:50:37Well, I mean, we've got 1,300, so, you know that's round about right.
0:50:37 > 0:50:41That £1,300 per calendar month means a yield of over 6%,
0:50:41 > 0:50:43which is pretty good.
0:50:43 > 0:50:46So, with this second addition to his property portfolio,
0:50:46 > 0:50:49does Peter have any advice for would-be investors?
0:50:49 > 0:50:52Obviously, get it done as quick as possible and then, you know,
0:50:52 > 0:50:55if you have got something else you can move on to,
0:50:55 > 0:50:57then...then you can do that.
0:50:57 > 0:51:01Or if you just want to relax somewhere, you can just do that.
0:51:05 > 0:51:09Speaking of relaxing, earlier in the Dunmere, Cornwall,
0:51:09 > 0:51:14we met a couple who definitely did want to just relax somewhere.
0:51:14 > 0:51:19Valerie and Kevin bought this lovely house at auction for £250,000
0:51:19 > 0:51:23and I had a serious case of garden envy.
0:51:23 > 0:51:29- Can I buy your garden, please?- No. No.- Please?- No. No. No.
0:51:29 > 0:51:31It's all ours.
0:51:31 > 0:51:36Valarie and Kevin had decided to completely transform their lives
0:51:36 > 0:51:38not just with their forthcoming marriage,
0:51:38 > 0:51:40but they'd given up their jobs
0:51:40 > 0:51:43and sold both their homes to move to Cornwall.
0:51:43 > 0:51:47So, what's prompted this...pretty radical change of life?
0:51:49 > 0:51:52- If you don't do it, you'll always wonder.- Yeah.
0:51:52 > 0:51:53We just want a change of life.
0:51:53 > 0:51:57They certainly got that, but former estate agent Valerie
0:51:57 > 0:52:01and former engineer Kevin needed to find alternative careers.
0:52:01 > 0:52:05I want to do healing because that's what I'm qualified to do.
0:52:05 > 0:52:08- What kind of healing? - Spiritual healing.- Right. Yeah.
0:52:08 > 0:52:11And meditation. I teach meditation.
0:52:11 > 0:52:13We want to do a bit of bed and breakfast
0:52:13 > 0:52:15- as a bit of a sideline as well. - Yeah.
0:52:15 > 0:52:17We're going to have a go at anything that brings a bit of income in.
0:52:17 > 0:52:19- Yeah.- We'll have a go.
0:52:19 > 0:52:24The couple had a budget of £30,000 and a very long time scale in mind
0:52:24 > 0:52:27to update this solid, but old-fashioned home.
0:52:28 > 0:52:31They were in no hurry, but just over a year later,
0:52:31 > 0:52:33we really wanted to know
0:52:33 > 0:52:37if their magical corner of Cornwall was living up to their expectations.
0:52:42 > 0:52:43Inside the house,
0:52:43 > 0:52:47the biggest changes are to the guest bedroom and the family bathroom.
0:52:52 > 0:52:54The rest of the house is pretty much as it was,
0:52:54 > 0:52:57but the addition of Valerie and Kevin's furniture
0:52:57 > 0:52:59makes a huge difference.
0:53:00 > 0:53:03So, just how has the work been going?
0:53:03 > 0:53:06Our first big job really, we had a septic tank put in,
0:53:06 > 0:53:09which basically wrecked everything in the garden.
0:53:09 > 0:53:13Everything that we had nicely set up wasn't there any more.
0:53:13 > 0:53:15So, that was the first thing that went in.
0:53:15 > 0:53:19After that, we decided we'd try and make amends to everything
0:53:19 > 0:53:22and we thought soon as we've got the work here,
0:53:22 > 0:53:25we decided that we were going to put Valerie's cabin up.
0:53:25 > 0:53:29- So, that's one thing we did in the bottom garden, didn't we?- Yeah.
0:53:29 > 0:53:32And we needed to work towards making a living,
0:53:32 > 0:53:35so I think the next thing we did was create the bed and breakfast suite.
0:53:35 > 0:53:38We completely gutted out the guest room so that, you know,
0:53:38 > 0:53:41- we've now got a nice bed and breakfast suite.- That's right.
0:53:41 > 0:53:43So, we have the log burner put in before winter.
0:53:43 > 0:53:45That was one of the most important things.
0:53:45 > 0:53:47Oh! That was very important, to have a log burner put in.
0:53:47 > 0:53:49- We needed a bit of warmth, didn't we? - Yes.
0:53:49 > 0:53:53And it looks like JJ the cat approves of that addition.
0:53:53 > 0:53:56But what about that stunning garden?
0:53:56 > 0:53:57Well, as we are getting older,
0:53:57 > 0:54:01it was very difficult to get up and down the garden.
0:54:01 > 0:54:03It's about 30 degrees, so it was all terraced
0:54:03 > 0:54:05and some very heavy-duty steps,
0:54:05 > 0:54:09so we decided that one of the best things to do was to make a pathway,
0:54:09 > 0:54:13an easy pathway, so we could get down in our older age.
0:54:13 > 0:54:15That, we managed to do.
0:54:15 > 0:54:19All the stonewalling that's gone was...Valerie's done that.
0:54:19 > 0:54:23And all the railings and everything around have all been rebuilt
0:54:23 > 0:54:28and made safe because in ten days' time, we're getting married
0:54:28 > 0:54:30and it's going to be in the garden
0:54:30 > 0:54:32and they'll probably be a few children
0:54:32 > 0:54:34running around here and there, won't they?
0:54:34 > 0:54:37There's been a fair bit of work in the house and the garden
0:54:37 > 0:54:41including stuff you can't see like the plumbing and electrics.
0:54:41 > 0:54:46So, how has their £30,000 budget gone so far?
0:54:46 > 0:54:50Right. We worked out last night that what we have roughly spent
0:54:50 > 0:54:53is about 22,500 so far.
0:54:53 > 0:54:56And obviously, the septic tank took a large proportion of that money,
0:54:56 > 0:55:00which is a bit galling because we've got nothing pretty to look at.
0:55:02 > 0:55:04Erm, what we've got left is very little
0:55:04 > 0:55:08because obviously the money's going on the wedding.
0:55:09 > 0:55:12- Yeah.- And after that, we've really got to concentrate
0:55:12 > 0:55:15on making an income.
0:55:15 > 0:55:17- Finding ways to make an income. - Yeah.
0:55:17 > 0:55:21And then we can maybe start thinking again about doing more work.
0:55:22 > 0:55:26This house was always intended to be a home for Valerie and Kevin.
0:55:26 > 0:55:29They've spent a lot of time and money putting their stamp on it.
0:55:29 > 0:55:34So, we invited two local property agents along to see what they think.
0:55:35 > 0:55:39Particular selling features of this property would be location.
0:55:39 > 0:55:42It's a very attractive property.
0:55:42 > 0:55:45There's not many of these that would necessarily come to the market
0:55:45 > 0:55:47in this area and with the stream down the bottom
0:55:47 > 0:55:51of the garden as well, I think it would have real wide appeal.
0:55:51 > 0:55:53It's a real one-off to find a property like this
0:55:53 > 0:55:57because not only are you in the countryside by the river,
0:55:57 > 0:55:59but you're right next to the Camel Trail,
0:55:59 > 0:56:02which leads from Wadebridge and to Padstow.
0:56:02 > 0:56:04And also you're in walking distance of a local pub,
0:56:04 > 0:56:06so you're nearby for a cheeky half.
0:56:06 > 0:56:08No time for that now.
0:56:08 > 0:56:11This is Valerie and Kevin's lovely home
0:56:11 > 0:56:13and it's never been about profit for them.
0:56:13 > 0:56:17So it almost seems rude to talk about money, but we will.
0:56:17 > 0:56:22They've spent £272,500 on this house so far.
0:56:22 > 0:56:24What could it sell for?
0:56:26 > 0:56:27In the open market,
0:56:27 > 0:56:31I think this property would readily sell for £250,000,
0:56:31 > 0:56:36but you may find that special buyer because of its unique location,
0:56:36 > 0:56:41who would even be prepared to pay up to £275,000 or £285,000.
0:56:41 > 0:56:43If I was to put this property on the market,
0:56:43 > 0:56:46I'd look to market it at £295,000.
0:56:46 > 0:56:50I would hope to achieve as close to this price as possible.
0:56:50 > 0:56:52That's about what I expected, really.
0:56:52 > 0:56:56Well, it's probably about what we expected to start off with, yeah.
0:56:56 > 0:56:58- Yeah.- Yeah.
0:56:58 > 0:57:00- So...- It's not that important to us as we are staying here,
0:57:00 > 0:57:04but, yeah, that's about what I would imagine.
0:57:04 > 0:57:09So, an average of those valuations would be £272,500,
0:57:09 > 0:57:12exactly what they've spent so far.
0:57:12 > 0:57:14So, what about rental?
0:57:14 > 0:57:16If I was to put the property on the rental market,
0:57:16 > 0:57:18I'd be looking to achieve
0:57:18 > 0:57:21anywhere between £900 and £950 per calendar month.
0:57:21 > 0:57:23As an assured shorthold tenancy,
0:57:23 > 0:57:27this would let in the region of £900 per calendar month.
0:57:28 > 0:57:31- Yeah.- If that's all certain, I might take up the offer, I think.
0:57:33 > 0:57:37- You know, if we get poor, we know what to do.- Yes.
0:57:37 > 0:57:42That lowest figure would give Kevin and Valerie a yield of almost 4%,
0:57:42 > 0:57:46but I doubt that they'll be taking up the offer any time soon.
0:57:46 > 0:57:48- Oh! We love it here, don't we?- Yeah.
0:57:48 > 0:57:50Absolutely love it. Everything about it.
0:57:50 > 0:57:53The people, the neighbourhood, the area.
0:57:53 > 0:57:55Yeah. The cosiness.
0:57:55 > 0:58:01The country. The birds, you know? In the middle of the night. Owls. Yeah.
0:58:01 > 0:58:03- Everything.- We... Yeah.
0:58:03 > 0:58:05- Yeah. It's our dream, really. - Yeah. It's great.
0:58:08 > 0:58:10Well, that's it for today's show.
0:58:10 > 0:58:14We'll have more stories from the auction rooms for you next time.
0:58:14 > 0:58:16We look forward to seeing you then on Homes Under The Hammer.
0:58:16 > 0:58:18- Bye for now.- Goodbye.