Episode 35 Homes Under the Hammer

Hello. You can't always judge what the property market is up to

these days because you can't always believe

what you read or what you hear.

The best thing to do is to try and find out for yourself.

And one way you can do that

is by going to your local property auction.

Well, there are a huge range of properties that go under

the hammer, so why not nip down to your local auction house

and get a feel for them? You don't have to buy anything.

Yeah. You may be surprised at some of the prices.

So let's take a look at what got our bidders going on today's programme.

In Gillingham, Kent, something is missing.

You know what? It just reminds me of a pub loo.

Why would you want to have that big gap there?

While in Streatham, South London,

I find something I didn't want to see.

Don't ever think about painting plastic windows.

And in Bodmin,

there might be something the neighbours don't want to see.

Doors from the bathroom out, onto the balcony.

Just make sure you remember to wear a bathrobe. Otherwise,

you give the neighbours a bit of a shock.

I've got 235 here.

All of these properties were sold at auction.

We'll find out who bought them and what they paid for them

when they went under the hammer.

# Why don't you live in a house in Kent?

# Believe that it's heaven sent

# Live in a house in Kent

# And don't ever move. #

I'm in Gillingham, a place that in old Kentish means...to shout!

Will there be something to shout about today?

The property I am here to see is just around the corner

from a large general hospital.

So, before you even go to the door, you know you've got

your rental income sorted. A good start.

Now, the house itself has three bedrooms

and it had a guide price of 90,000 to 95,000.

# Doctor, Doctor, please

# Oh, the mess I'm in! #

Doctors on call like to be as near their place of work as possible,

so this is just what the doctor ordered.

The house is a bit scruffy on the outside,

definitely in need of some first aid.

Whoo! In I come.

Let's put the brolly down and have a little look around

with what we've got.

So, straightaway, the things you need to clock

when you walk into a property - things like this.

Yes, a big tick, there is central heating.

I'm not keen on the external pipes, I'd like to get those buried.

A good-sized sitting room. Some really funky retro features.

I mean, look at the wall lights, the lampshades.

Some beautiful cornicing, though, in that room,

so beware of little features like that. Second reception room.

Now, this is actually a much bigger space,

a nicer size than the room next door, I think.

Would you want to knock through here and open up this wall?

Or perhaps, you might want to knock through this room

and go into the kitchen.

But another thing I've noticed - double glazing.

So, two big expenses spared, which is great.

So far, there is something to shout about with this property.

Sure, I'd want those gas fires gone.

And the kitchen, well, it is a bit of a let down - very dated, indeed.

This is a rip-out job. But handy that there's a can opener,

because the bathroom door is a can of worms!

You think you've seen it all.

Look, this is the bathroom,

but there is a piece of wall missing from ceiling to there.

And it gets better. Follow me through to here.

Yes, and voila!

The toilet. Same thing again.

You know what, it just reminds me of a pub loo.

Why would you want to have that big gap there?

In my mind, the space hasn't been utilised brilliantly.

You've got a big waste of space here with the corridor.

You've got the back door leading out to the garden.

I think there's easily enough room to put a utilities somewhere

and to re-juggle the bathroom towards

the back of the property, maybe thinking about re-locating

that door and putting it in here, in place of the window in the bathroom.

There is so much you could do

to make better use of the space.

# Mind the gap, mind your head

# Mind things your mama said. #

There is more potential than privacy about this privy.

When it's got to go, it's got to go.

Outside, there is a fair bit of space.

Now that IS something to shout about.

Well, this is a nice staircase. Lovely spindles.

Nice to have some character in houses like this.

So, right at the back, we've got a little bedroom with a boiler in it.

Not ideal.

Try and relocate that downstairs if possible. Another bedroom here.

Great size. You've got a fireplace that you could uncover.

You never know what's lurking behind.

And right along this corridor,

towards the front of the building, is the master bedroom.

Now, this is brilliant.

You've got a great space here, enough room to put some wardrobes.

Look at these lovely floorboards.

It's so nice when you pull back, in this instance the lino,

and you can see the really nice floorboards.

And look, an old newspaper.

Sunday Pictorial, May 10th, 1959.

"You can't wash the smartness out of this non-iron shirt." I love it!

"So crazy - anyone can buy it."

Let's hope the person who's bought this house doesn't think

they're crazy, because I certainly don't.

-# You know I'm not crazy

-You know I'm not crazy

-# You know I'm not crazy

-You know I'm not crazy. #

Let's see if a local agent agrees with me.

The situation with the downstairs in particular, the bathroom,

is a little bit unusual.

Although, it is not unusual to have

a downstairs bathroom.

But I would consider some sort of reconfiguration out there to perhaps

get a utility room or maybe move the door to make that practical.

This property is one of the ones that if you're not careful,

you might end up spending more than you planned,

which would eat into your profit.

I think this property, when fully renovated, should be

worth in the region of 125,000.

This property will rent for a price

of £700 to £750 per calendar month.

This is actually a decent sized house with plenty of scope to

improve and character to enhance.

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

Lot 28.

And we've got a guide of 90 to 95.

What may I say?

Start me at the bottom end of the guide - £90,000 to start.

90,000 anywhere?

I don't mind where we start, it's where we finish that counts.

85 then?

85? 85 springing up like mushrooms.

85 on bid. 88?

88, I have. And 90? 90 is bid.

And 92? 92 on the far right.

95.

97 is bid. And 100?

100, I have. 102?

102 on bid. 105.

107. 107. And 110.

Anybody else? 110, I have.

112?

I'll take 1,000 if it helps.

At 110,000 for the first time, then.

For the second time at... 111.

It has come back. 112, sir?

111, you might've just clinched it.

At 111, then, for the first time.

111 for the second time.

111 for the third and final time.

At 111, are you all done?

Sold at 111.

And the successful bidders were father and son team Tony and Luke.

-# I am what I am

-Am what I am

# A family man. #

Tony has just taken early retirement.

So rather than putting his feet up,

he went to the auction to find a new project.

Tony and Luke, congratulations. This is really good news.

How well do you know the area?

Very well. I've been living in the area for 30 years now.

-And have you bought this property?

-Yes.

OK, now, Luke, what is your input going to be?

I'm going to be helping out weekends, evenings,

so much as possible.

I work all week, so when I get a bit of free time,

I'll help out my dad.

Hopefully, I can still play football on Sunday morning,

but it is up to the boss now. So, we'll have to see how that goes.

-Is he really in control?

-He will be.

He's shaking his head.

If he starts paying the money, then I'll do whatever he says.

Tony used to work for a power station, but now that he's retired,

he's looking forward to a change in direction.

And for him, it isn't just a pipe dream.

Well, I've always has been interested in houses and doing houses up.

I've built three, four extensions.

And just find it interesting.

I've lived on a building site my entire life.

Oh, tell me about your childhood, was it that awful?

It was extensions and a lot of digging,

a lot of filling up rubble bags.

So I've kind of learned from a young age, really.

And I'm kind of carrying it forward to my house now

and my house I just left. So, it's a good...

This work has been like a mini apprenticeship for me, really.

The apprenticeship hasn't put Luke off, which is just as well.

Tony has set a £10,000 budget.

Hm, the margins are quite tight on this one.

Bought for 111,000, add £10,000,

and the agent thought it would sell for 125,000.

Ooh...

So, where are you going to start? What changes are you going to make?

Well, I'm going to start on the easy bit, which is upstairs, I think.

Because really that is just purely decoration.

I hope it is easy, but really, I'm worried, as this is a house

that both the agent and I thought could eat up money.

So, let's talk about downstairs.

You've got some rooms... You know, you've got a lovely,

big room to the front,

this one that we are standing in. What do you think?

Well, knocking this wall down there

to make this an open plan lounge-diner.

But the kitchen and the bathroom I've been... Tape measured

and drawings and...

So, what ideas have you come up with so far?

Knocking all them silly little walls down that are in there.

Moving the doorway.

I'm going to put a VELUX window in or two, maybe,

to bring some natural light in.

It's just figuring out how to squeeze the bath up towards the toilet,

and that's what I plan on doing.

Do you think it was a good buy at auction?

When I looked at this house, it had such a good feel.

It was a really sunny day.

The garden is south facing, it was lovely out there. And I just...

And it was big.

Which I thought you can do something if it's big.

Talking about the garden, what is that right at the end of the garden?

It's a lovely little pub.

I say a little pub, it's more like a hole.

-Will you be spending any time in there?

-No.

Will you be hopping over the back wall?

You're nodding, you're shaking your head.

-We've got to say no.

-No.

-But probably.

-Mum's watching.

Don't worry, Mum, I think

there's plenty of work here to keep this pair out of the pub.

But Tony and Luke seemed to be relishing

the prospect of getting stuck in.

So, how near do you and your dad live, then?

Me and my fiancee and our little girl,

we're just down the road. It's quite handy.

I like to pop in, get a bottle of wine when they're out

and borrow a few tools.

So, yeah, it's quite useful.

So, have you taken a lot from your dad's life and experience

of building extensions and brought it to your own family?

I think it annoys my other half, simply because I always think,

"I'm going to try that myself."

Sometimes it works, sometimes it doesn't.

But I'm always one for giving everything a try.

If it doesn't work, then you can easily fix it.

That's fantastic, I love your attitude.

Even though you are both very relaxed about this,

-what is your timeframe?

-I did say six months,

but I don't really know.

It might go over. Hopefully, it will be under. But six months I've set.

Only time will tell. When we come back, we'll find out.

It has been lovely meeting both of you. I'm so excited to see

-how the project goes. Good luck.

-Thank you.

-Thanks a lot.

-Nice to meet you. Thank you.

If it doesn't work, you can easily fix it. I love that attitude!

And most of the time, well, it is true.

But all that work for ten grand?

Hm, that's a little bit harder.

You can find out how it all goes later in the programme.

I'm in Streatham, South London,

a multicultural hubbub with all sorts of properties at offer,

from flats to townhouses in tree-lined streets.

And up here on Streatham Common, annually, the Kite Festival.

All you need do is turn up with a kite, surprise, surprise. If all

else fails, a bin bag, some twigs, some sticky tape and some string.

# Come fly with me

# Let's fly, let's fly away! #

Luckily, the properties around here seem to be made of sturdier stuff

than that.

And there's quite a range of architectural styles to be

seen surrounding this great open space.

And there's much more on offer here with a busy high street

and easy access to public transport.

Well, flying high in the property stakes,

we hope, is the flat I'm here to see, quite close

to Streatham Hill Station and Streatham High Street.

Two bedrooms, ground floor, had a guide price of £200,000,

which for around here, sounds pretty good to me.

The flat sits on the ground floor of a four-storey block.

And with these balcony corridors on the upper levels, it gives them

a sense of space you wouldn't get with an enclosed corridor.

So, what do you get for your money?

Well, first glance. Hm, hm.

Not in the best state of repair.

The floor doesn't give a very good impression.

But let's just look at the layout. Toilet there. Unusual.

If there's a bathroom as well, then that is not too bad news.

Two bedrooms. First one, that is a half decent size.

Lots of storage, which is definitely good for a flat.

Look, some there, some there.

I don't know if there is anyway you could maybe take those out

if you wanted to create a bit more of an open feel.

Actually, on balance, I think I'd keep them,

cos storage is at a premium in a flat like this.

Good-sized second bedroom there.

Really nice feel here, in the fact that it is dual aspect.

So the flat spans the whole width of the building,

So you get light on each side.

That actually does give it a really nice feel.

And bathroom there, no toilet, so you might want to play

around with that to perhaps introduce a toilet in there.

But then through into the kitchen.

I mean, it's not massive, but then, neither is the flat in general.

Proportionally, it works really well.

A bit of money spent in here.

All in all...

..I think it's really good!

Whoever lived here has certainly stamped their own

personality on it, and the bathroom design has been done with flair.

And if you're living in a property, then of course,

you should have it just the way you want it.

But for rental or resale, the general rule of thumb is -

keep it neutral.

That way, you provide a blank campus for people's imaginations

and will open up your property to the widest possible market.

And, well, this just isn't neutral, is it?

Ew.

With bold colours in the kitchen and the bathroom

and baby pink throughout the hall and living room,

it just isn't going to be to everyone's taste.

Well, one of the benefits of a ground-floor flat is that

you've got access to outdoor space.

In this case, we even get a little balcony.

It's not exactly staring out across the Serengeti,

but it is nice to have that outdoor space.

But look what somebody has done.

Here is a top NOT decorating tip -

don't ever think about painting plastic windows,

cos it'll end up looking like this.

-SIRENS

-Here come the DIY police.

MUSIC: "Every Breath You Take" by The Police

Maybe not quite an arrestable offence

and maybe a bit harsh to say never,

but you should be cautioned.

There are products designed to allow you to paint on plastic,

but you need to know what you are doing.

So if you must, then do your research, get some advice

and be warned - if you get it wrong, then it can look, well, like this.

But this is all just cosmetic stuff.

Remember that attractive guide price of £200,000.

We asked a local estate agent to have a look at the flat.

What did she have to say about the property?

The positives of this property are two good-sized double bedrooms.

You've got a little bit of communal gardens at the front,

but the local communities are just so close to hand.

You've got bus carriage more or less next door

and train stations galore as well.

There is a huge demand

for properties like this because,

um, property is in short supply

in Streatham,

and lots of people are buying and keeping their properties to rent

out for future investment.

So, yeah, we could always use properties like this.

All great news - good location,

demand for rental and it also appeals to the first-time

buyer market. So what could the property fetch if resold?

Once renovated, this property will achieve in the region

of £270,000 to £275,000.

And for rental, who would she expect to live here?

If this property was rented, it would appeal to young professionals,

because we've got two good-sized double bedrooms and you would hope

to achieve anywhere between 1,350 per calendar month

and 1,400 per calendar month.

Well, £200,000 doesn't buy you a lot in London these days.

And yet here, in Streatham Hill, I think an opportunity to get hold

of a really decent little flat with an opportunity to add value as well.

Let's see who agreed when it went under the hammer.

Move on now to lot 98.

Two-bedroom, ground-floor flat

in need of modernisation.

Close to Streatham High Road. Offering it with vacant possession.

230 anywhere?

Despite the auction room being packed,

this lot took a while to get going.

What about 210? Try and help with a bit of discount.

210 anywhere?

Thank you. 210, I've got.

211 anywhere?

210 on my right. 211 anywhere?

211, thank you.

And when it did get going,

our cameras didn't manage to catch the bidders.

We rejoin the auction at £221,000.

222. 223.

224. 225 at the back.

Anybody else?

If not, 225 for the first.

225 for the second.

225 for the third and final time.

All done?

Sold, 225.

Hidden from our camera was Peter,

who bought the flat with his wife, Christine, for £225,000.

Peter is an electrician, so that is going to be handy.

-Peter, nice to meet you.

-Nice to meet you.

-Congratulations.

-Thank you.

-Tell me why you wanted to buy the flat.

Well, I didn't actually see it before I...before we bought it.

-My wife had come to see it.

-Ah!

-And we decided on a figure for it.

And so we went on and bought it.

-Right, is she the property sourcer out of the pair of you?

-Um...

-I mean, she is probably more intelligent than me.

-Oh, OK.

She looks into things a little bit more than me.

I just go and do the work. I do as I'm told.

Is this something that the pair of you do, then?

-Are you property investors?

-Not really, no.

We just wanted to get two or three flats together so we can,

you know, have a bit of income in our old age, basically.

-So, is this number one or is this part...?

-No, this is number two.

-Great.

-We'd like to get three if we could.

-We've just sold our house, so we've got a bit of money from that.

-Right.

Hopefully, if we can get three, that should be a little bit,

plus our pensions, to actually live off of for the next ten years or so.

Right.

-Are you happy with what you paid?

-Yeah, I think so, yeah. Yeah.

It's, uh... You know, up for sale,

I would have much preferred it had been another 25 grand cheaper, but...

So, what are your plans for this place?

What are you going to do to it?

We are going to do a new kitchen, new bathroom, toilet.

I think, with the toilet, it needs a basin, so I might swing that door

so that it comes out into the hall, so we can fit a basin in there.

So then there'd be a basin and a bath in the bathroom

-and a toilet and a basin in the other.

-Right.

And then just tile, you know, laminate the floors in the bathroom,

toilet. Kitchen.

-And probably carpet the rest.

-Right.

It is quite echoing and quite noisy, isn't it?

I think carpets would be the best thing.

-That might absorb some of the noise from outside, perhaps.

-Yep.

-I might put carpet on the walls as well.

-Blimey! Really?!

-No.

Lovely(!)

But, obviously, it's got double glazing at the moment.

-You almost feel like it needs triple glazing, don't you?

-Yes.

I mean, we won't go to that.

I don't know if you've noticed,

-but all the windows and doors have actually been painted.

-Yes.

-On the plastic.

-Which is a bit of a pain.

But I did have a word about that with my painter yesterday.

He said he can get some special paint and sort that out

-and it won't be... It's not going to fall off, basically.

-Right.

You can't clean it off, then, with solvents?

He doesn't seem to think that that's very viable.

Sorting out the bad paint job will be a massive improvement,

particularly the ones painted red,

as will sorting out the current toilet arrangement.

I mean, it's not very hygiene to have a loo and nowhere to

wash your hands.

However, Peter is certainly going to make the best of the space

here, by the sounds of it.

Not a bad size flat, is it?

No, it is a nice size, isn't it? I mean, the lounge's a reasonable size.

Both of the bedrooms are about the same size,

-but they're nice-sized sort of double bedrooms, aren't they?

-Yeah.

So, I'm sure it will rent out easy.

-And that's the plan, is it, to rent it out?

-It is, yeah.

We don't want to sell it on, we just want to get some rent back.

Get, you know, a regular income coming in.

So what is the budget?

-The budget, I would think about ten grand.

-OK.

That is quite healthy, really, cos there isn't much to do, is there?

-No, not really, no.

-Right.

And the timescale?

Um, originally, I was thinking, as long as it is done inside

-eight weeks, but I really think like four to six weeks, really.

-OK.

Are you going to get somebody in?

Yeah. I mean, even if I was doing it myself,

you know, I'm the decorator, I get someone else to do it all the time.

I sometimes get involved in stripping down the walls,

but, you know, I find it quite boring just doing the painting,

so I've got a good mate who does that. So, yeah.

So, he'll do all that for me,

and do a good job, a better job than what I can do.

-Listen, congratulations. Good luck with it.

-Thank you.

-I look forward to seeing how you get on.

-OK, thanks.

So, Peter buying this place on the recommendation of his wife, often

a very good way to go, and adding it to their property portfolio.

How will he get on sorting it out?

You can find out later in the show.

Coming up, in Cornwall, I find the ultimate in tranquillity.

I mean, does anything get more idyllic than this?

And back in South London, we check on the progress of Peter's

flat, which has become a family affair.

My daughter and my wife have been helping me here, um,

giving me a bit of grief, telling me what to do.

Back now to Gillingham in Kent, where earlier,

we met retired builder Tony and his son, Luke, who

spent £111,000 at auction on this three-bedroom terraced house.

-Let's talk about downstairs.

-Mm.

-You've got some rooms...

You know, you've got a lovely, big room to the front,

this one that we are standing in, what do you think?

Well, knocking this wall down there,

to make this an open-plan lounge-diner.

But the kitchen and the bathroom,

I've been... Taped measured, and drawings, and looking around...

And I just don't really know what I'm going to do yet, really.

And that bathroom downstairs was, mm, well, to say the least...

Eccentric.

There's a piece of wall missing from ceiling to there!

Tony and Luke have budgeted 10,000 and given themselves six

months to renovate this house to sell on.

13 months have now passed and we are back to see if this father

and son team have managed to knock doors out of windows.

# I want to be

# Sledgehammer! #

# Sledge, sledge! #

Well, there is certainly a wall missing here,

but it is the one between the dining room and this lovely new kitchen.

And it looks like all that measuring has paid off,

with this new utility and bathroom.

And they've even followed my advice and moved the back door.

What happened to Tony's plan to open up the lounge and dining room?

Most of the houses around here have knocked the lounge into one big

lounge, and I wanted to be a little bit different.

And I think the result is excellent.

I certainly wouldn't argue there.

Were there any more unexpected changes to the plan?

One of the main ones was in the bathroom.

We increased the height of the ceiling by about two foot.

Reason being is when we moved the bathroom out to the back room,

if we were stood in the bath, having a shower, we are

six foot plus, so our heads would've been touching the ceiling.

So we made it a bit more practical for anyone who buys the property.

I'm just glad they banished the gap above the door.

Now I seem to remember that Luke, a lifetime apprentice to his dad,

said he would just follow Dad's instructions.

Hm, now how did that work out?

Yeah, we had a bit of a joint input in terms of where things have

gone, what we have done with the walls and decoration,

but ultimately,

Dad will be getting any profit, so I just do what he says.

And hope he hands it down.

Well, since you mentioned money, the original budget was £10,000.

How did that fare?

Well, we've ended up spending £20,000,

which was double my original estimate.

There was a lot of extra work involved than what I thought.

New paths, new drainage,

you name it, everything was new. And um...

Just went over budget.

Keeping the costs down is the key to making a good profit, but in

the end, there is no point scrimping on the work that has to be done.

And with all that extra work, how did their six-month timescale fare?

The project's taken us just over a year, which was, again,

double our original estimate. We seem to have doubled everything.

If we can double the profit, that'd be even better.

Um, reason being, I think it is

because of all the extra work that we hadn't really accounted for.

We've had to replace floors in the kitchen,

replace the roof out the back.

And it is all little things like that that take you about

an extra two or three weeks, and they have all added up

and just extended the timescale of the project.

Oh, dear, double the budget and the timescale.

But they have transformed this house!

So, how has this father

and son team enjoyed working on this project together?

I've enjoyed it.

-I don't know about you.

-Some of it.

-The end is quite good.

-Yeah.

The beginning is awful.

It is a nice feeling, when you come in here

and look at this place now and you think what it was before.

There has been a lot done and it shows.

Tony bought this house for £111,000

and has spent 20 grand on renovations.

We invited two local property experts around

to see what they think, starting with the one we saw last time.

I think this property will appeal to two main people -

your investor who wants a property where

he doesn't have to do anything and he can rent it out -

the yield would be excellent - and your first-time buyer,

who wants to buy a property

and, again, doesn't want to do too much to it -

he wouldn't have to do nothing, he could really move straight into it.

I've had a good look round the house today, it's a super house.

It is a lovely refurbishment.

Exactly what people come here to buy.

Both very positive,

but what do they think it could achieve on the rental market?

This property would easily rent for £800 per calendar month.

I think this property could rent for a figure of £750 per calendar month.

Yeah, that's not bad, to be honest.

That's quite a generous rental.

But again, I think it is done up too nice to rent out,

just in case anything happens to it.

It's better to get it off our hands and move on to the next one.

Tony has spent a total of 131,000.

The agent who came to see this house before renovations reckoned

it could sell for 125,000.

Will having doubled his budget have impacted on Tony's profit?

Will he still be relaxed?

I think this property could sell for a figure between £130,000

and £150,000.

We would look to sell this property for about £165,000.

Wow! And relax.

Those are very different valuations.

What do Luke and Tony make of them?

About 150, 155, I think, personally.

I agree.

We've seen a lot of properties up this road

and nearby go for the 150 mark,

and this is by far a better layout and done to a better standard, so

I think we are going to come on to a bit of a premium for this place.

If Tony and Luke are right, £155,000 would give them

a profit of 24,000, minus all the usual taxes and fees.

So, what is next?

We're doing my house next.

It's what we're planning, or what I'm planning,

-honestly.

-That's news to me.

But you're supposed to be retired, Tony!

Isn't it time for the pipe and slippers?

No, not yet, I'm going to do something else and then

probably look around for another property and have another shot at it.

And then retire.

Well, if you do fancy a rest, you could do worse than spending

a bit of time here, in beautiful Cornwall.

I'm in Bodmin, one of the oldest towns in the county,

which explains the impressive architecture,

some of which has been beautifully restored.

I'm hoping the property I'm here to see today will have as much

character.

Well, a couple of miles from Bodmin is the little hamlet of Dunmere, and

an absolutely gorgeous little spot it is as well -

lots of trees, a river...

And a house to match? Well...

It looks pretty good from the outside.

A really substantial three-bedroom, detached property at a guide

price of 235,000 quid.

Let's go inside!

Just before we do, a few things to take note of on the outside.

There is a garage, that's handy.

There's a lane going past your front door that is shared with

the neighbours, though there aren't many of those.

Probably getting a bit more use is the famous Camel Trail,

an 18-mile disused railway line, which attracts walkers,

cyclists and horse riders, and runs along the back of the property.

So, is it as delightful inside?

Ah... Let's find out.

Through the front door, you've got stairs up to the bedrooms.

It feels reasonably spacious here.

Over that side, a kitchen.

It looks a little bit dated, but it's not a bad size.

Um... Ergh.

I don't like this cladding, it makes it feel very dark.

But then you come into this living room area.

And while you might not particularly like the colours - the browns

and the dark reds - but everything is in really fantastic condition.

Nice curtains, this amazing feature fireplace.

Wow, that is a feature and a half, isn't it?

Actually, talking of halves, I would probably chop it in half

and maybe keep the fire end of it and possibly lose this.

But I mean, in terms of living up to expectations,

yeah, it's great!

Clean as a proverbial whistle.

Oh, I do love viewing a well-cared-for home.

There is even a utility room off the kitchen for extra practicality

and a loo under the stairs.

You really could move in as it is.

On the upper floor, there are three bedrooms -

a very good-sized double at the front

and a smaller one to the back.

And the family bathroom, again, spotless, if a little old-fashioned.

Then... It really is a bit of a rabbit warren, this place.

Over that side of the stairs, two bedrooms.

Then you come to this side, where you find the master bedroom.

And how lovely is this?

Obviously, get rid of some of the furniture,

the built-in wardrobes and all that kind of stuff. This is the en-suite.

It might not be to everyone's taste, but absolutely lovely condition.

Tiling all nicely done. Big sort of whirlpool bath thing going on there.

And as if that isn't enough, something you very rarely see -

doors from the bathroom out, onto the balcony.

Just make sure you remember to wear a bathrobe.

Otherwise, you give the neighbours a bit of a shock.

While it might be slightly strange to have this

balcony off the en-suite, it is a lovely thing to have.

OK, you could rearrange the bedroom, so this side

is off your master, and switch the en-suite elsewhere, but, hey,

I'd be inclined to leave it where it is and just see

it as a rather quirky added extra.

But if you were impressed already, head out of the house, over the

road, and I've got something to show you that will blow your socks off.

Well, yes, the house is separated from its garden by that

little road, but once you get here,

you really do not care,

because it is quite simply one of the most spectacular gardens

I've seen while I've been doing the show.

OK, it is a steep climb down, but it is stunning.

Carved into the side of the hill and landscaped with plants

and flowers, this has obviously been someone's pride and joy.

It feels very Himalayan, a world away from the everyday lawns

and patios and flowerbeds.

I mean, does anything get more idyllic than this?

And this garden alone

would have taken years

and you could easily have blown six figures doing this, honestly!

As it is, somebody has done it, and it is amazing.

I'm a goner.

Magical. That's all I can say.

How many houses come with a secret hideaway of their very own

right on the water's edge?

This house is not for everyone.

The road will put some people off. The fact that your garden is

not right outside your front door will deter others.

Plenty won't like the steep steps down the garden.

But if you don't care about those things, if you want a really

solid, big house, with a sensational piece of land and your own river

frontage, well, I don't think there are many places around like this.

# Downriver, downriver

# Downriver, down... #

We asked a local agent along

to see what he thought.

It's an interesting place when you drive up towards it.

It is well away from the road.

There is quite a busy road at the end of the drive,

but you're elevated from it,

so it doesn't feel like you're anywhere near it.

It is a good-sized house, actually.

But generally, it does need a fair bit of modernising - things

like kitchens and bathrooms are showing signs of wear and age now.

So, it is a bit of a project.

The thing that strikes me

most about this property is probably the garden, which admittedly,

is situated on the other side of the road,

so, OK, could be a small drawback for some people.

But it is beautiful. It is just the highlight for me.

Yes, the agent is a goner over the garden, too.

But let's put the magic aside and do the numbers thing.

If this house was updated, how much could it sell for?

If all the work was undertaken here,

I would say an asking price of 285,000.

And what about the rental market?

You're looking at around £850 per calendar month

in its current condition.

Well, the house itself is in great condition.

It offers loads of options and potential.

But it is this garden that just turns it into a truly

spectacular auction lot.

Let's see who fell in love when it went under the hammer.

Lot 111.

Here we have a freehold, three-bed detached, character cottage.

It is adjacent to the Camel Trail.

Going price here is 235.

I'm on the book at 235, that is where we are going to start.

Straight off at 235. I'm in action, where are you, ladies and gentlemen?

I've got 235 here. 240?

240. I have 245 here. 250?

250 here.

Yeah? Sure? I'm out here.

You're in there at 250.

It is with the rest of you now, ladies and gentlemen. At 250 here.

Any advance on 250?

Moment to think. I won't put you through too much pain.

Bidding on the curtain there at 250.

Sure we're all done?

First, second, third. Last time at £250,000, seated.

Yours at £250,000. Congratulations.

I know you've come a long way, so I'm delighted for you two.

And don't they look thrilled?!

Getting a bit of Cornish magic for £250,000 are Valerie and Kevin,

who currently live in Hampshire and plan to get married next year.

And where else to meet them but in this wonderful garden?

-Congratulations.

-BOTH: Thank you.

-Can I buy your garden, please?

-No!

-No.

-Please?

-No, no!

-Please?

-No!

It's all ours.

What did you think when you first saw this?

-It really struck our hearts in the middle, didn't it?

-It did.

We came down to the bottom of the garden here, sat by the water,

looked back up at the house and thought...

-I don't know, you can't explain it, really.

-Well, I've experienced it.

-I mean, it's a magical spot, isn't it?

-It is.

-Why have you bought it?

-We wanted a home of our own.

That's right, yeah.

I'm selling my place at the moment and Valerie has sold hers.

We have also thrown all our cards in the air.

I've given up my job.

I've given up my job.

And we're going to try and make a go of it down here.

Wow! So what were you doing until recently?

Until last Friday, I was a facility's maintenance engineer.

-Last Friday?

-Last Friday.

And Valerie?

I was an estate agent.

THEY LAUGH

-OK.

-I can't say I was too sorry to get away from that job.

So, what's prompted this...pretty radical change of life?

-If you don't do it, you'll always wonder.

-Yeah.

We just want a change of life.

# The dog days are over

# The dog days are done

# The horses are coming

# So, you better run. #

What a glorious place to make a new start!

Since meeting at Avebury Stone Circle

at the winter solstice three years ago,

Kevin and Valerie feel that all roads have led to this new home.

I want to do healing because that's what I'm qualified to do.

What kind of healing?

-Spiritual healing.

-Right. Yeah.

And meditation.

I teach meditation and I think here would just be a perfect place.

It... Yeah, even if you're not into that kind of stuff,

you come here and you almost want to meditate.

-It forces you to meditate.

-Yeah, absolutely!

-And...

-The dowsing as well.

-I do dowsing.

Well, you're not going to have difficulty doing the dowsing.

-There's loads of...

-Boom! There you go.

THEY LAUGH

And...

We want to do a bit of bed and breakfast

-as a bit of a sideline as well. Just...

-Yeah.

We're going to have a go at anything that brings a bit of income in.

-Yeah.

-We'll have a go.

The house, then. Let's start with that. What do you think about it?

We walked in there and I mean, it felt like

it had been a really well-loved home.

You know, the people that had lived there

had obviously put a lot of work into it, you know, during their time.

And although, OK, it's getting a little dated in places,

but it's very liveable

and we'll just gradually put our own personality on it as and when.

-And then the garden?

-Over this side, we're going to have the log...

One log cabin up there and a nice big...

-At the top over there...

-Love healing.

That's a healing cabin. A nice...nice-looking place.

And then, we want to actually cut the garden,

so we have a meandering path coming down, but there's lots of ideas.

It's... Again, it's so much to look at

it's difficult to know where to start, really.

Well, these two have plenty of time to ponder. They're in no rush.

They know from a structural survey that the house is sound

and the only big job is that the septic tank needs replacing.

And they do have an ambitious plan for the future

making the kitchen bigger by knocking into the garage.

But they've got £30,000 to spend. OK, I'm going to have one last go.

-And I can't persuade you to sell me the garden?

-No.

-It's ours!

Well, listen, congratulations.

-I'm really delighted...

-Thank you.

..the house has found somebody lovely to enjoy it.

Well, if ever there was a perfect pairing of property

and purchasers, it's this place and Valerie and Kevin.

I'm not surprised their heart skipped a beat when they saw it,

but what a lifestyle change they are going through.

How exciting!

You can find out how it all turns out later in the show.

Well, the seasons have changed. Have the properties changed as well?

Or have they remained exactly the same? It's the moment of truth.

Let's find out.

Back now to Streatham Hill in South London

in this rather bold two-bedroom flat bought

by electrician Peter at auction for 225,000.

Peter was planning to spend four to six weeks

and £10,000 doing the property up.

So, what are your plans for this place?

What are you going to do to it?

Erm, we're going to do a new kitchen, new bathroom, toilet.

-It is quite echo-y and quite noisy, isn't it?

-I think...

I think carpet would be the best thing.

And that might absorb some of the noise from outside, perhaps.

Yeah. Yeah. I might put carpet on the walls as well.

-Blimey! Really?

-No.

-Lovely(!)

Peter was going to need that sense of humour

with some of the paint work he had to remedy.

Painted uPVC windows not good.

Peter and his wife Christine had bought this flat to rent out

and this was the second property

in what they hope will be their retirement fund portfolio.

Peter reckoned on a four-to-six week timescale

and so, four weeks later, we're back to see how far he's got

and by the look of things, that's a long way.

Thankfully, the new carpets have remained on the floor.

That rather dismal kitchen is now clean and crisp.

Peter's plan to sort out the awkward bathroom arrangements

have approved the flat no end.

We now have a neat, handy loo with washbasin

and a modern, family-sized bathroom.

And remember what I said about neutral?

Well, this is just the job and the story continues in the bedrooms.

I'm guessing Peter has had a very busy schedule.

I put new bathroom, toilet, kitchen and flooring throughout.

Wooden flooring through the hallways into the kitchen, bathroom

and carpets in the bedrooms and the lounge.

-Anything else, Peter?

-New doors, new boiler added a couple of racks.

I put a towel rail in the bathroom.

That's an awful lot of work in just four weeks.

-How's he managed to pull it off?

-My mate Roy did...

He does all my decorating for me, an old school friend of mine.

And a chap called Bob who...

Well, he's been a friend since just after school

and he does the plumbing.

So, yeah, and my daughter and my wife have been helping me here.

Giving me a bit of grief, telling me what to do. Erm, yeah.

So, yeah, that was quite fun.

So, quite the team effort, then.

But what about those painted, plastic windows?

Did Peter manage to come to a solution there?

We just painted it.

You know, we cleaned up on the outside and we painted the inside.

My painter did that for me.

He...he does a good job. He puts all the right stuff on it

and undercoats and primes it and everything else,

so, yeah, he did all of that for me.

Peter and his team have done a fantastic job throughout this house,

but are there any jobs that still need to be finished?

I've just finished the sealing around the bath

and I've just got some edging round the floor to do

and just curtains and blinds to go up, really.

That's a handy tip. If you're sealing the bath,

do it when it's full for best results.

By the time I'm finished this weekend,

it will be exactly four weeks,

which, you know, is not bad.

Not bad, but it's been hard work, so...

And all that hard work's paid off

as Peter's has already found some tenants.

This estate agent came round and he said,

"Oh, do you mind if I bring someone in?" So, all right.

He's brought two people... Two loads of people in.

When the second person came in

and they put a deposit down that afternoon.

And to... And it was as much as what we wanted, so...

So, Peter's managed to bring this renovation in

well within his four-to-six week timescale

and he already has tenants lined up.

But has he managed to do it on budget?

Yeah, I mean, we originally said about 10,000

and I think it was 10,000. It might be 10,200, something like that.

I always thought that £10,000-budget was pretty realistic

and it looks like he spent it wisely.

Will two local estate agents think so, too?

Fantastic. The property is fantastic

especially in such a short space of time.

The property would definitely suit young professionals.

I think the owner's done very well.

He's kept it neutral throughout and the finish of the kitchen

and the bathroom are actually very good.

Peter is set on renting this property

as part of his pension portfolio,

but what if he and his wife Christine

decide to put it on the market?

What do the agents think this property could sell for?

Would it make a profit?

He spent £10,200 renovating the property he bought for 225,000

taking his total investment to £235,200.

If I was...to put the property on for marketing,

the property would be priced between £270,000 and £275,000.

We believe this property would sell for between £260,000 and £270,000.

There's one that's going around this area for 275, so, you know,

I would think that's about right, but, you know, we're not selling.

That top valuation could mean a potential profit of £40,000

minus the usual taxes and expenses.

But Peter already has a tenant.

Is he getting the market rate?

What do the agents think he should be asking?

If we were putting this property on the market for rental purposes,

we would market the property

at between 1,300 and 1,350 per calendar month.

We expect this property to rent for £1,325.

Well, I mean, we've got 1,300, so, you know that's round about right.

That £1,300 per calendar month means a yield of over 6%,

which is pretty good.

So, with this second addition to his property portfolio,

does Peter have any advice for would-be investors?

Obviously, get it done as quick as possible and then, you know,

if you have got something else you can move on to,

then...then you can do that.

Or if you just want to relax somewhere, you can just do that.

Speaking of relaxing, earlier in the Dunmere, Cornwall,

we met a couple who definitely did want to just relax somewhere.

Valerie and Kevin bought this lovely house at auction for £250,000

and I had a serious case of garden envy.

-Can I buy your garden, please?

-No. No.

-Please?

-No. No. No.

It's all ours.

Valarie and Kevin had decided to completely transform their lives

not just with their forthcoming marriage,

but they'd given up their jobs

and sold both their homes to move to Cornwall.

So, what's prompted this...pretty radical change of life?

-If you don't do it, you'll always wonder.

-Yeah.

We just want a change of life.

They certainly got that, but former estate agent Valerie

and former engineer Kevin needed to find alternative careers.

I want to do healing because that's what I'm qualified to do.

-What kind of healing?

-Spiritual healing.

-Right. Yeah.

And meditation. I teach meditation.

We want to do a bit of bed and breakfast

-as a bit of a sideline as well.

-Yeah.

We're going to have a go at anything that brings a bit of income in.

-Yeah.

-We'll have a go.

The couple had a budget of £30,000 and a very long time scale in mind

to update this solid, but old-fashioned home.

They were in no hurry, but just over a year later,

we really wanted to know

if their magical corner of Cornwall was living up to their expectations.

Inside the house,

the biggest changes are to the guest bedroom and the family bathroom.

The rest of the house is pretty much as it was,

but the addition of Valerie and Kevin's furniture

makes a huge difference.

So, just how has the work been going?

Our first big job really, we had a septic tank put in,

which basically wrecked everything in the garden.

Everything that we had nicely set up wasn't there any more.

So, that was the first thing that went in.

After that, we decided we'd try and make amends to everything

and we thought soon as we've got the work here,

we decided that we were going to put Valerie's cabin up.

-So, that's one thing we did in the bottom garden, didn't we?

-Yeah.

And we needed to work towards making a living,

so I think the next thing we did was create the bed and breakfast suite.

We completely gutted out the guest room so that, you know,

-we've now got a nice bed and breakfast suite.

-That's right.

So, we have the log burner put in before winter.

That was one of the most important things.

Oh! That was very important, to have a log burner put in.

-We needed a bit of warmth, didn't we?

-Yes.

And it looks like JJ the cat approves of that addition.

But what about that stunning garden?

Well, as we are getting older,

it was very difficult to get up and down the garden.

It's about 30 degrees, so it was all terraced

and some very heavy-duty steps,

so we decided that one of the best things to do was to make a pathway,

an easy pathway, so we could get down in our older age.

That, we managed to do.

All the stonewalling that's gone was...Valerie's done that.

And all the railings and everything around have all been rebuilt

and made safe because in ten days' time, we're getting married

and it's going to be in the garden

and they'll probably be a few children

running around here and there, won't they?

There's been a fair bit of work in the house and the garden

including stuff you can't see like the plumbing and electrics.

So, how has their £30,000 budget gone so far?

Right. We worked out last night that what we have roughly spent

is about 22,500 so far.

And obviously, the septic tank took a large proportion of that money,

which is a bit galling because we've got nothing pretty to look at.

Erm, what we've got left is very little

because obviously the money's going on the wedding.

-Yeah.

-And after that, we've really got to concentrate

on making an income.

-Finding ways to make an income.

-Yeah.

And then we can maybe start thinking again about doing more work.

This house was always intended to be a home for Valerie and Kevin.

They've spent a lot of time and money putting their stamp on it.

So, we invited two local property agents along to see what they think.

Particular selling features of this property would be location.

It's a very attractive property.

There's not many of these that would necessarily come to the market

in this area and with the stream down the bottom

of the garden as well, I think it would have real wide appeal.

It's a real one-off to find a property like this

because not only are you in the countryside by the river,

but you're right next to the Camel Trail,

which leads from Wadebridge and to Padstow.

And also you're in walking distance of a local pub,

so you're nearby for a cheeky half.

No time for that now.

This is Valerie and Kevin's lovely home

and it's never been about profit for them.

So it almost seems rude to talk about money, but we will.

They've spent £272,500 on this house so far.

What could it sell for?

In the open market,

I think this property would readily sell for £250,000,

but you may find that special buyer because of its unique location,

who would even be prepared to pay up to £275,000 or £285,000.

If I was to put this property on the market,

I'd look to market it at £295,000.

I would hope to achieve as close to this price as possible.

That's about what I expected, really.

Well, it's probably about what we expected to start off with, yeah.

-Yeah.

-Yeah.

-So...

-It's not that important to us as we are staying here,

but, yeah, that's about what I would imagine.

So, an average of those valuations would be £272,500,

exactly what they've spent so far.

So, what about rental?

If I was to put the property on the rental market,

I'd be looking to achieve

anywhere between £900 and £950 per calendar month.

As an assured shorthold tenancy,

this would let in the region of £900 per calendar month.

-Yeah.

-If that's all certain, I might take up the offer, I think.

-You know, if we get poor, we know what to do.

-Yes.

That lowest figure would give Kevin and Valerie a yield of almost 4%,

but I doubt that they'll be taking up the offer any time soon.

-Oh! We love it here, don't we?

-Yeah.

Absolutely love it. Everything about it.

The people, the neighbourhood, the area.

Yeah. The cosiness.

The country. The birds, you know? In the middle of the night. Owls. Yeah.

-Everything.

-We... Yeah.

-Yeah. It's our dream, really.

-Yeah. It's great.

Well, that's it for today's show.

We'll have more stories from the auction rooms for you next time.

We look forward to seeing you then on Homes Under The Hammer.

-Bye for now.

-Goodbye.