0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:06Auctions are an interesting place to buy and sell property.
0:00:06 > 0:00:09And that's why they've become so popular.
0:00:09 > 0:00:11Yes. Literally thousands of properties
0:00:11 > 0:00:13are sold at auctions each year
0:00:13 > 0:00:15and end up under the auctioneer's gavel.
0:00:41 > 0:00:45Well, people who buy regularly at auction get to know
0:00:45 > 0:00:46the tricks of the trade.
0:00:46 > 0:00:49And one way to make sure you're not inheriting a whole
0:00:49 > 0:00:52load of problems for the property you want to buy
0:00:52 > 0:00:54is to make sure you read the legal pack.
0:00:54 > 0:00:57Oh, yes. Better to be safe than sorry.
0:00:57 > 0:01:00Here are the properties that inspired the buyers on today's show.
0:01:02 > 0:01:05First up, in Crewe, I regret not bringing my wellies.
0:01:05 > 0:01:07That's even worse.
0:01:07 > 0:01:10There is actually, like, lots and lots of water.
0:01:12 > 0:01:15In Kent, I regret not bringing a bulldozer.
0:01:15 > 0:01:16Come on!
0:01:16 > 0:01:21This is a perfect plot for a bigger and better house than this bungalow.
0:01:22 > 0:01:27And over in Surrey, I meet two friends with seemingly no regrets.
0:01:27 > 0:01:29- It's a lovely little spot. - Isn't it?
0:01:29 > 0:01:32It's great, isn't it? It's absolutely perfect.
0:01:34 > 0:01:36All these properties have been sold at auction.
0:01:36 > 0:01:38We'll find out who bought them and what they paid for them
0:01:38 > 0:01:40when they went under the hammer.
0:01:40 > 0:01:41All done, sir. It's yours.
0:01:47 > 0:01:51I'm in Crewe, Cheshire, famed for its links with transport.
0:01:53 > 0:01:57Railways and Rolls-Royce car production are part of its heritage.
0:01:58 > 0:02:00Just two miles from the town centre
0:02:00 > 0:02:03is one of the most desirable villages - Wistaston.
0:02:05 > 0:02:08Well, situated on this lovely residential street is
0:02:08 > 0:02:09the property I'm here to see.
0:02:09 > 0:02:11A 1930s three-bedroom semidetached.
0:02:11 > 0:02:16At a guide price of 115,000 quid, there it is.
0:02:16 > 0:02:17Let's take a look.
0:02:17 > 0:02:19Well, I liked the long drive,
0:02:19 > 0:02:22but what is hidden behind all that foliage?
0:02:27 > 0:02:29A bit of a sticky door.
0:02:29 > 0:02:30Umpf! Not a particularly good start.
0:02:30 > 0:02:32But straight in through the front door,
0:02:32 > 0:02:34I expected a fairly traditional layout.
0:02:34 > 0:02:36Stairs up to the bedrooms there,
0:02:36 > 0:02:43but straightaway, it looks like the house is in need of a bit of work.
0:02:43 > 0:02:45Very odd, actually. I talked about traditional layout,
0:02:45 > 0:02:47that's not very traditional at all.
0:02:47 > 0:02:50Almost under the stairs to get through to the kitchen.
0:02:50 > 0:02:54But then into a really nice dual-aspect living room.
0:02:54 > 0:02:56Over this side, big bay window.
0:02:56 > 0:02:58HE GIGGLES
0:02:58 > 0:03:00Open brick works in fireplaces.
0:03:00 > 0:03:02Not sure it works necessarily there.
0:03:02 > 0:03:06And the floor feels a little bit, well,
0:03:06 > 0:03:08dodgy, for lack of a better word.
0:03:08 > 0:03:11But it's a nice sized space and as I said, dual-aspect,
0:03:11 > 0:03:14which is really good. This sort of rear area here. Erm...
0:03:14 > 0:03:17Good place for a dining table. Hole in floor.
0:03:18 > 0:03:20I'll come back to that.
0:03:20 > 0:03:24Let's carry on under the stairs through to the kitchen.
0:03:24 > 0:03:25Wow!
0:03:25 > 0:03:26HE LAUGHS
0:03:26 > 0:03:30Well, it's a project for somebody. Yes.
0:03:30 > 0:03:33It's good size, though. This bit here, a little extension.
0:03:33 > 0:03:35Nice views out into the garden.
0:03:35 > 0:03:37Good-sized space, but clearly...
0:03:37 > 0:03:41Straightaway, this is one of those "Rip it out and start again" jobs.
0:03:41 > 0:03:45# Rip it up and start again... #
0:03:45 > 0:03:47Also true in the lounge.
0:03:47 > 0:03:51# Rip it up and start again. #
0:03:51 > 0:03:54OK. So what on earth is going on with this hole in the lounge?
0:03:54 > 0:03:56Well, first of all,
0:03:56 > 0:03:59really nasty case of...
0:04:01 > 0:04:03..woodworm there. That's not good, but...
0:04:03 > 0:04:05HE LAUGHS
0:04:07 > 0:04:08That's even worse.
0:04:08 > 0:04:13There is actually, like, lots and lots of water underneath there.
0:04:13 > 0:04:15Wow!
0:04:16 > 0:04:19Still, ever the optimist - if there's nothing on the telly,
0:04:19 > 0:04:23you could pull back the rug and sit yourself down for a spot of fishing.
0:04:23 > 0:04:25Well, maybe not.
0:04:25 > 0:04:30So, upstairs with some trepidation. What am I going to discover up here?
0:04:30 > 0:04:34Well, three bedrooms. That one, not too big. Those two, a good size.
0:04:34 > 0:04:38Lots of light again coming in. A bathroom. Again, a decent size.
0:04:38 > 0:04:40Needs total refurbishment,
0:04:40 > 0:04:43but, yeah, it's where it should be.
0:04:43 > 0:04:45But then, to this bedroom here.
0:04:45 > 0:04:48Where, in such a small space, so many problems.
0:04:48 > 0:04:49For a start, a boiler.
0:04:49 > 0:04:51Boilers in a bedroom, never good.
0:04:51 > 0:04:53Carbon monoxide poisoning and all that sort of stuff.
0:04:53 > 0:04:56So move it out of here, or at the very least, get it serviced.
0:04:56 > 0:04:58But then, how about this?
0:04:58 > 0:05:01Patio doors out on to what - a patio, perhaps?
0:05:01 > 0:05:02No. On to a flat roof.
0:05:02 > 0:05:04HE SIGHS
0:05:04 > 0:05:09And no balustrade or safety thing at all. Slightly dangerous, you think?
0:05:10 > 0:05:14I did say it was a "rip it out and start again" job.
0:05:14 > 0:05:17This is not for the faint of heart,
0:05:17 > 0:05:20but I still think this house has great potential.
0:05:20 > 0:05:25The house is surrounded by quite a lot of space.
0:05:25 > 0:05:28The gardens or in this case, driveway,
0:05:28 > 0:05:29and some sort of patio area.
0:05:29 > 0:05:31What's been done in the past, though,
0:05:31 > 0:05:36is this fairly dubious-looking single-storey extension here.
0:05:36 > 0:05:38I think there's scope to build something
0:05:38 > 0:05:40much more elaborate on the back.
0:05:40 > 0:05:43Single-storey, within permitted development rules.
0:05:43 > 0:05:45That would certainly make a lot of sense.
0:05:45 > 0:05:47But step towards the back of the property
0:05:47 > 0:05:50and almost its hidden treasure is revealed.
0:05:50 > 0:05:56Well, it's still partly hidden, and let's be honest...
0:06:00 > 0:06:03..you don't come across this kind of thing very often in a back garden.
0:06:03 > 0:06:05I couldn't work out which was worse -
0:06:05 > 0:06:09the house, or this wreck of a classic Hillman Super Minx.
0:06:10 > 0:06:12Then I saw the shed.
0:06:12 > 0:06:13# And I know
0:06:13 > 0:06:16# It is time for falling apart. #
0:06:18 > 0:06:21We called in an agent from the auction house who sold it
0:06:21 > 0:06:23to tell us a bit about the prospects
0:06:23 > 0:06:27for this bit of a wreck guided at 115,000.
0:06:28 > 0:06:32I would imagine the new buyer of the property would change the layout.
0:06:32 > 0:06:35People do like open-plan kitchens nowadays.
0:06:35 > 0:06:38Family dining areas within the kitchen.
0:06:38 > 0:06:44If the property was modernised to a good standard throughout,
0:06:44 > 0:06:46with no extensions,
0:06:46 > 0:06:52the resale value would be £185,000 to £195,000.
0:06:52 > 0:06:56If a single-storey extension was added on to the property,
0:06:56 > 0:06:58the value of the property would be
0:06:58 > 0:07:02in the region of £195,000 to £205,000.
0:07:03 > 0:07:08Well, lots of work to be done, so not a project for the unwary.
0:07:08 > 0:07:13But a great location and a house that just screams potential.
0:07:13 > 0:07:15And that means potential profit.
0:07:15 > 0:07:19Let's see who fancied it when it went under the hammer.
0:07:19 > 0:07:21Lot number 19.
0:07:21 > 0:07:22What's this? 80 to start me?
0:07:22 > 0:07:2380 bid, thank you.
0:07:23 > 0:07:25£80,000.
0:07:25 > 0:07:2685 I'm going to say now.
0:07:26 > 0:07:2885. Thank you, got you.
0:07:28 > 0:07:31£85,000. 90, is it?
0:07:31 > 0:07:3295?
0:07:32 > 0:07:36No? At £90,000. Bids left. I'll take 92 if it helps.
0:07:36 > 0:07:39It does. 92, ticket there. Seen you, sir.
0:07:39 > 0:07:42£94,000.
0:07:42 > 0:07:4496. £96,000.
0:07:44 > 0:07:46Do you want to come in at 98?
0:07:46 > 0:07:48£98,000.
0:07:48 > 0:07:4999 anywhere else?
0:07:50 > 0:07:53If not, £98,000 for the first time.
0:07:53 > 0:07:56£98,000 for the second time.
0:07:56 > 0:07:59Third and final time, at £98,000.
0:07:59 > 0:08:01All done, sir, well done.
0:08:01 > 0:08:04Well, Joanne and Mark couldn't hide their joy
0:08:04 > 0:08:09at getting the house for £17,000 less than the guide price.
0:08:09 > 0:08:14That £98,000 sealed that first auction purchase.
0:08:14 > 0:08:18Mark, who used to work in sales, proposed to Joanne,
0:08:18 > 0:08:20who worked in HR, earlier in the year,
0:08:20 > 0:08:23and this house is part of a new future together.
0:08:23 > 0:08:25I met them to find out more.
0:08:25 > 0:08:27- Joanne, Mark, great to meet you. - Hi.- Pleased to meet you.
0:08:27 > 0:08:29- Congratulations. - BOTH: Thank you.
0:08:29 > 0:08:31A bit of a doer-upper then?
0:08:31 > 0:08:33Yeah, I'd say that.
0:08:33 > 0:08:36What was it that attracted you to the house?
0:08:36 > 0:08:39The location was one of the biggest things. The garden.
0:08:39 > 0:08:42And the potential to, obviously, get it to work.
0:08:42 > 0:08:48We'd like it to be for selling on or for staying in, for moving into.
0:08:48 > 0:08:49Is this something you do?
0:08:49 > 0:08:52- No, until now.- No.
0:08:52 > 0:08:54- THEY LAUGH - OK.
0:08:54 > 0:08:56We've both just been recently made redundant. Me prior.
0:08:56 > 0:08:59- Sorry. - No, it's one of those things.
0:08:59 > 0:09:01- Over the space of what period of time?- About three months.
0:09:01 > 0:09:03Right, OK. That wasn't good, was it?
0:09:03 > 0:09:04BOTH: No.
0:09:04 > 0:09:06So, what kind of experience have you got?
0:09:06 > 0:09:09I've done a certain amount of labouring/kitchen fitting
0:09:09 > 0:09:12in different guises, with the brother-in-law.
0:09:12 > 0:09:14So, I'm fairly hands on.
0:09:14 > 0:09:17Albeit, I won't get involved with the electrics, the gas,
0:09:17 > 0:09:18anything like that.
0:09:18 > 0:09:21So talk me through exactly what the plans are.
0:09:21 > 0:09:23First things first, the roof.
0:09:23 > 0:09:24Right.
0:09:24 > 0:09:27It's going on in two weeks' time and it's going to match next door.
0:09:27 > 0:09:28We've got a perfect match on the tile.
0:09:28 > 0:09:31Second job, we're waiting for the architect's plans,
0:09:31 > 0:09:33and that's going to hold things up a little bit.
0:09:33 > 0:09:35But because it's within the government guidelines,
0:09:35 > 0:09:37we don't need planning permission.
0:09:37 > 0:09:39- So that's three metres extension. Single-storey?- Single-storey.
0:09:39 > 0:09:42Yeah. And then hoping to put some doors in.
0:09:42 > 0:09:45Sort of behind us here, as a closed-off sitting room.
0:09:45 > 0:09:48Sounds like you're really designing it with the end user in mind,
0:09:48 > 0:09:51which is really what you should do. But sometimes, people don't.
0:09:51 > 0:09:53Yeah, I think it's got to be done that way because,
0:09:53 > 0:09:55at the end of the day, if we want to stay here,
0:09:55 > 0:09:58it's got what we would like, but likewise we want to sell it.
0:09:58 > 0:10:01And it's got to be what most other people would like.
0:10:01 > 0:10:03What about upstairs?
0:10:03 > 0:10:06It's going to be kept pretty much the same layout.
0:10:06 > 0:10:08The patio doors, which open out onto the flat roof?
0:10:08 > 0:10:12We thought they might go. And just have a normal window there.
0:10:12 > 0:10:14We don't think, again, it's not child-friendly.
0:10:14 > 0:10:17- No, completely the opposite. - Absolutely.
0:10:18 > 0:10:22Joanne's going to need that positive attitude with this house
0:10:22 > 0:10:25and with Mark's "three or four months" timescale.
0:10:25 > 0:10:26But to be fair,
0:10:26 > 0:10:29he's already organised someone to do the extension.
0:10:29 > 0:10:31What about budget for all this?
0:10:31 > 0:10:34- I think 25.- I think 30.
0:10:34 > 0:10:36I think it's going to be there or there...in between the two.
0:10:36 > 0:10:40Now, you do know that this whole working together on a project
0:10:40 > 0:10:43is going to throw up, naturally, sort of questions
0:10:43 > 0:10:45which you might not agree on.
0:10:45 > 0:10:48I think, in fairness, Mark is going to project manage it
0:10:48 > 0:10:50and on this one, I'm certainly going to be his labourer.
0:10:50 > 0:10:54However, when it comes to making final decisions on kitchens
0:10:54 > 0:10:57- and bathrooms, they were my choices. - That's true.
0:10:57 > 0:10:59- Brilliant. Listen, congratulations. - BOTH: Thanks.
0:10:59 > 0:11:01Good luck with it. We look forward to seeing how you get on.
0:11:01 > 0:11:04- Thank you very much.- See you soon. - Yeah.
0:11:04 > 0:11:08And we'll be finding out how they get on later in the programme.
0:11:12 > 0:11:15For the next property going under the hammer, we've come to
0:11:15 > 0:11:19Rainham, in Kent, just outside the towns of Chatham and Gillingham.
0:11:19 > 0:11:21It's perfect commuter territory
0:11:21 > 0:11:24with everyday amenities on your doorstep.
0:11:24 > 0:11:27The M2 motorway is only minutes away, as well as a train line
0:11:27 > 0:11:31that would get you into Central London in under an hour.
0:11:34 > 0:11:36Five minutes or so from the train station
0:11:36 > 0:11:39and this is typical 1930s suburbia.
0:11:39 > 0:11:42Nothing wrong with that, nice and practical.
0:11:42 > 0:11:46And the property I'm here to see is this, a detached two-bedroom
0:11:46 > 0:11:51bungalow which had a guide price of 190 to 200 grand.
0:11:52 > 0:11:56Well, there's not a lot of kerb appeal, but if the front is
0:11:56 > 0:12:00anything to go by, this is a very big plot - and there's a garage.
0:12:02 > 0:12:05I really like the fact that there's enough parking for, at least,
0:12:05 > 0:12:08three or four cars on that driveway.
0:12:08 > 0:12:11As expected, in this little bungalow, look at this,
0:12:11 > 0:12:14it needs decorating, it needs attention.
0:12:14 > 0:12:18There's a big old crack along there, so I'd get that looked at.
0:12:18 > 0:12:21But on the positive side, what I do love is the fact that
0:12:21 > 0:12:24I can see into every single room from standing here.
0:12:24 > 0:12:28It makes it very welcoming and I do like a nice open hallway.
0:12:28 > 0:12:31I'd say that's a bedroom, we've got a bathroom,
0:12:31 > 0:12:33which will need completely updating.
0:12:33 > 0:12:36A great kitchen, a lovely size.
0:12:36 > 0:12:39I mean, there is a lot you can do with that.
0:12:39 > 0:12:42And through here, you've got the sitting room, the lounge area,
0:12:42 > 0:12:44whatever you like to call it. You could have a dining room.
0:12:44 > 0:12:46There's two doorways here,
0:12:46 > 0:12:49which was probably considered quite posh in the day.
0:12:49 > 0:12:53But a lot of work to do and it's very spacious. I do like it.
0:12:53 > 0:12:56# I like it
0:12:56 > 0:12:57# I like it. #
0:12:58 > 0:13:00I always love a project,
0:13:00 > 0:13:03and there's no denying that this is certainly one.
0:13:03 > 0:13:05And I also like a bungalow,
0:13:05 > 0:13:08and they are increasingly popular with an ageing population.
0:13:08 > 0:13:10This could be well worth the hard graft
0:13:10 > 0:13:14of bringing this up to a really good standard.
0:13:14 > 0:13:18However, hold on. If you thought the front garden was big...
0:13:20 > 0:13:21Ah!
0:13:21 > 0:13:24Well, at the back, there is a significant parcel of land.
0:13:24 > 0:13:280.38 acres, in fact. Look, it's huge!
0:13:28 > 0:13:29Not enough to stable a horse,
0:13:29 > 0:13:34but quite enough to take a more substantial property. Come on!
0:13:34 > 0:13:35We're all thinking it.
0:13:35 > 0:13:40This is a perfect plot for a bigger and better house than this bungalow.
0:13:40 > 0:13:45Now, you could renovate, you could extend, it's worth thinking about.
0:13:45 > 0:13:49But knocking this place down and making the most of this plot
0:13:49 > 0:13:52is more than worth a thought as well.
0:13:52 > 0:13:55As far as gardens go, this is a whopper,
0:13:55 > 0:13:57with sheds and greenhouses galore.
0:13:57 > 0:13:59You could put a whole swimming pool in here
0:13:59 > 0:14:02and you wouldn't make much of a dent in this place.
0:14:02 > 0:14:04And it got me thinking.
0:14:04 > 0:14:07Now, there's scope to build a bigger property here,
0:14:07 > 0:14:09maybe a bit further back from the road.
0:14:09 > 0:14:13But before you get carried away, it's time to do the sums.
0:14:13 > 0:14:16Say you bought the bungalow for the guide price,
0:14:16 > 0:14:17around £200,000.
0:14:17 > 0:14:21You knocked it down, built a four or five-bedroom place,
0:14:21 > 0:14:23did it nicely, high spec...
0:14:23 > 0:14:25How much are you going to spend?
0:14:25 > 0:14:28200K, maybe more?
0:14:28 > 0:14:32So you're into a £400,000 project.
0:14:32 > 0:14:35If you go by the rule that you should spend
0:14:35 > 0:14:37a third on your land, a third on your build's cost
0:14:37 > 0:14:40and you walk away with a third as profit,
0:14:40 > 0:14:44you'd be hoping to sell for £600,000.
0:14:44 > 0:14:47And I simply can't see a house here making that sort of money.
0:14:47 > 0:14:51You can pick up a large family home for well under 500,000 grand on this
0:14:51 > 0:14:56road, which makes me think maybe this bungalow is worth working with.
0:14:57 > 0:15:01Look, I'm not saying a possible 100-grand profit on my hypothetical
0:15:01 > 0:15:05five-bedroom house wouldn't be worth aiming for,
0:15:05 > 0:15:07but it does rest on lots of ifs and buts.
0:15:09 > 0:15:12That possible profit could quickly disappear if it goes well over
0:15:12 > 0:15:16the guide, or demolition and building costs escalated.
0:15:18 > 0:15:20Are there any other options?
0:15:20 > 0:15:22Well, a big plot like this could easily bear
0:15:22 > 0:15:26a pair of semidetached houses, which might increase your margins.
0:15:28 > 0:15:31But would it get planning permission?
0:15:31 > 0:15:35Now, this street does seem to be dominated by detached homes.
0:15:35 > 0:15:38What would the local estate agent recommend
0:15:38 > 0:15:39for this interesting bungalow?
0:15:40 > 0:15:45I would recommend extending and going up into the loft
0:15:45 > 0:15:46and making it bigger that way,
0:15:46 > 0:15:50because the cost of knocking it down and moving it
0:15:50 > 0:15:54might not justify the final cost of the completed project.
0:15:54 > 0:15:58But whichever option is viable, it all comes down to the maths.
0:15:58 > 0:16:02So what kind of values will these options make?
0:16:02 > 0:16:06If you extended the property and made it a four-bedroom,
0:16:06 > 0:16:10you could see a value from 450 to £500,000.
0:16:10 > 0:16:15If you knocked the property down and made it a new detached property,
0:16:15 > 0:16:21four, maybe five bedrooms, you might push the value up to 500,000 plus.
0:16:21 > 0:16:25Sounds like knocking down isn't necessarily the way to reap
0:16:25 > 0:16:26the biggest rewards.
0:16:26 > 0:16:28What about the renting potential?
0:16:28 > 0:16:32If a bungalow is left as a two-bedroom, I think you would
0:16:32 > 0:16:38achieve a figure of between £700 and £750 per calendar month.
0:16:38 > 0:16:42As a four or five-bedroom detached property, the rental income
0:16:42 > 0:16:48should be in the region of say £1,400 to £1,500 per calendar month.
0:16:48 > 0:16:51This is a very interesting lot with lots of options.
0:16:51 > 0:16:55Do you renovate, do you demolish? What would you build here? Hmm.
0:16:55 > 0:16:57Let's see who had some ideas at the auction.
0:16:58 > 0:17:00Where do you want to start me on this one?
0:17:00 > 0:17:02190 would be a good place to start.
0:17:02 > 0:17:04Tell me 180, then. 180. 180, I'm on the way.
0:17:04 > 0:17:06I've got you on the left-hand side.
0:17:06 > 0:17:10180. And five. 185. 185.
0:17:10 > 0:17:12190. And five.
0:17:12 > 0:17:14195.
0:17:14 > 0:17:16The bids came fast and furious
0:17:16 > 0:17:19and became a battle of wills between two bidders.
0:17:19 > 0:17:22We rejoined at £240,000.
0:17:22 > 0:17:26240 on the internet, I'm obliged, and 245 I'm looking for.
0:17:26 > 0:17:28241.
0:17:28 > 0:17:30242 I've got on the internet bidder.
0:17:30 > 0:17:32243. 243.
0:17:32 > 0:17:33244 I've got.
0:17:33 > 0:17:36245 is against you. 245 I have.
0:17:36 > 0:17:38246 is against you on the internet.
0:17:38 > 0:17:41It's in the room, it's not on the internet bidder, just so you know.
0:17:41 > 0:17:44At 245 for the first time.
0:17:44 > 0:17:46245 for the second.
0:17:46 > 0:17:50Third and final time, you're sure you're all done. It's yours, sir.
0:17:50 > 0:17:52£245,000 in the room.
0:17:52 > 0:17:57# If I could change the way
0:17:57 > 0:18:02# I live my life today
0:18:02 > 0:18:03# I wouldn't change. #
0:18:03 > 0:18:08The successful bidder getting the bungalow for 245,000 was Joe.
0:18:08 > 0:18:12He worked in IT for 25 years and embarked on a career change,
0:18:12 > 0:18:16becoming a teacher for five years.
0:18:16 > 0:18:18However, he's now decided being a property developer,
0:18:18 > 0:18:23which he already has experience in, is a less stressful career.
0:18:23 > 0:18:27A couple of months after the auction, we caught up with him
0:18:27 > 0:18:30at the bungalow, by which time he'd already made a start
0:18:30 > 0:18:32by clearing the trees and shrubbery
0:18:32 > 0:18:36and also had time to come up with a plan of action.
0:18:36 > 0:18:37- Joe, congratulations.- Thank you.
0:18:37 > 0:18:39What a fantastic plot!
0:18:39 > 0:18:42So, what are you going to do here?
0:18:42 > 0:18:44There are a number of options.
0:18:44 > 0:18:47When I first looked at the property,
0:18:47 > 0:18:51I was looking at keeping it as it is and then extending it slightly,
0:18:51 > 0:18:54renovating it, going outwards and backwards.
0:18:54 > 0:18:57And then possibly putting something at the back with a side access.
0:18:57 > 0:19:00We've come up with a few other ideas as well,
0:19:00 > 0:19:03and one of those is, my other half would like to keep it
0:19:03 > 0:19:06for our own personal residential home as well.
0:19:08 > 0:19:11Before Joe's wife set her sights on living here, the plan was to
0:19:11 > 0:19:15chop the garden in half and create a new house with its own access.
0:19:17 > 0:19:20- OK. So, you looked at this as a big development project.- Yes.
0:19:20 > 0:19:22But now your wife's got all excited.
0:19:22 > 0:19:25She's seen it for herself and she wants to live here.
0:19:25 > 0:19:26She likes the size of the plot.
0:19:26 > 0:19:28We've got a Doberman and he loved it
0:19:28 > 0:19:31when we came down after we got the keys and everything.
0:19:31 > 0:19:34And she fell in love with it. She likes the size of the plot.
0:19:34 > 0:19:37I'm still trying to convince her with a couple of other options.
0:19:37 > 0:19:38Keeping the plot,
0:19:38 > 0:19:41but maybe alternatives at the back at the moment.
0:19:41 > 0:19:44So, do you think you'd like to build your own house here
0:19:44 > 0:19:46or would you just develop this bungalow?
0:19:46 > 0:19:48At the moment, I've got somebody drawing up plans
0:19:48 > 0:19:50to come up with a new build.
0:19:50 > 0:19:53So knock this down and build a new one on top of this
0:19:53 > 0:19:55or just a little bit further back.
0:19:55 > 0:19:58A larger family home, which would be at least,
0:19:58 > 0:20:01if not slightly bigger than the one we've got at the moment.
0:20:01 > 0:20:04Joe has already worked out some plans
0:20:04 > 0:20:05and a budget for the new build.
0:20:05 > 0:20:08He's hoping to spend no more than 250 grand.
0:20:08 > 0:20:12If you add that to the 245,000 he paid at auction,
0:20:12 > 0:20:16that's already 495,000.
0:20:16 > 0:20:18Pretty much what the state agent thought
0:20:18 > 0:20:20was the going price for a house here.
0:20:22 > 0:20:23Still, that wouldn't matter
0:20:23 > 0:20:25if you wanted to make it your home,
0:20:25 > 0:20:27especially if you got planning permission
0:20:27 > 0:20:30to put another house on the plot.
0:20:30 > 0:20:33But is that really the best route?
0:20:33 > 0:20:35Now, the bungalow as it stands is fantastic.
0:20:35 > 0:20:38It's got lovely, wide rooms. You could go up.
0:20:38 > 0:20:41You could go out just with permitted development
0:20:41 > 0:20:43and make this a fantastic space.
0:20:43 > 0:20:45Surely that's a better option for you,
0:20:45 > 0:20:47and then try to get planning permission
0:20:47 > 0:20:49to build a separate house in the garden.
0:20:49 > 0:20:52It...it is, and that's another one I'm seriously considering,
0:20:52 > 0:20:55and have been considering and I'm trying to convince my wife
0:20:55 > 0:20:59that we can still do that and get away with a reasonable-sized house
0:20:59 > 0:21:01even if I go back another couple of metres
0:21:01 > 0:21:02and apply for planning permission.
0:21:02 > 0:21:04That shouldn't be a problem.
0:21:05 > 0:21:08But if there weren't already enough options,
0:21:08 > 0:21:11there's another that Joe is now considering.
0:21:11 > 0:21:14There's another alternative to rebuilding something at the back.
0:21:14 > 0:21:16My next-door neighbour has shown some interest in selling parts
0:21:16 > 0:21:19of their garden and the neighbour on the right-hand side
0:21:19 > 0:21:22has also shown possibly some interest as well,
0:21:22 > 0:21:25which would then give me a T-shaped plot.
0:21:25 > 0:21:28If I can get access from the back,
0:21:28 > 0:21:31and there is a road directly behind that,
0:21:31 > 0:21:33then I'm possibly looking at anything
0:21:33 > 0:21:37between sort of four to six semidetached properties.
0:21:37 > 0:21:41- Wow!- Assuming the planners allow this, of course.
0:21:41 > 0:21:46Amazing! Now, that is a moneymaking development and a half!
0:21:46 > 0:21:49Complicated, though, with lots of borders to haggle,
0:21:49 > 0:21:51boundaries and rights of way to discuss,
0:21:51 > 0:21:54and it turns out there's a covenant in the legal pack
0:21:54 > 0:21:57that sets out some restrictions on what can be built.
0:21:57 > 0:22:00And although he's confident he can sort that out,
0:22:00 > 0:22:04this doesn't sound like the less stressful life that Joe wanted.
0:22:06 > 0:22:10And first things first - Joe may have to sell the family home
0:22:10 > 0:22:13to release equity for this, so he needs somewhere to live.
0:22:14 > 0:22:17And he still has his wife's wishes to consider.
0:22:18 > 0:22:21Maybe best to take some time to think about it all.
0:22:22 > 0:22:25What are you going to be doing in the next few months?
0:22:25 > 0:22:28In the next three months, it's going to be getting the plans drawn up,
0:22:28 > 0:22:31submitting the plans, whether it's a new complete build
0:22:31 > 0:22:33or whether it's an extension to this
0:22:33 > 0:22:36and hopefully get some agreement with the planners
0:22:36 > 0:22:39about what we can do at the back.
0:22:39 > 0:22:42What options there are and what they would be happy with.
0:22:42 > 0:22:44Joe, I am very excited to see which option you go for.
0:22:44 > 0:22:46It's really exciting times for you
0:22:46 > 0:22:49and this is a fabulous plot. Well done. It was a great buy.
0:22:49 > 0:22:52- Thank you. Thank you very much. - Thank you.- Cheers.
0:22:52 > 0:22:55So, Joe has options galore here
0:22:55 > 0:22:58and I'm not sure he knows which way to turn.
0:22:58 > 0:23:00What will we find when we come back?
0:23:00 > 0:23:02A five-bed deluxe home?
0:23:02 > 0:23:03A refurbished bungalow?
0:23:03 > 0:23:06A development in the back garden? Ha-ha!
0:23:06 > 0:23:09Who knows? Join us later in the show and you can find out.
0:23:11 > 0:23:12Still to come, in Surrey,
0:23:12 > 0:23:15a renovation that needs plenty of planning and foresight.
0:23:15 > 0:23:18We're just going to refurbish the whole house.
0:23:18 > 0:23:20Tiles, carpets throughout.
0:23:22 > 0:23:27But in Kent, Joe finds that a bit of hindsight can be useful too.
0:23:27 > 0:23:28In a way, if I had known what I know now,
0:23:28 > 0:23:30I probably would have knocked it down.
0:23:34 > 0:23:37We return now to the historic railway town of Crewe
0:23:37 > 0:23:41where Mark and Joanne have picked up this unloved, three-bedroom
0:23:41 > 0:23:44semidetached house as their first project.
0:23:44 > 0:23:47Costing £98,000 at auction,
0:23:47 > 0:23:49they hoped it would signal a new beginning for them
0:23:49 > 0:23:53as they attempt to build a business in property development.
0:23:53 > 0:23:55So talk me through exactly what the plans are.
0:23:55 > 0:23:58- First things first, the roof. - Right.
0:23:58 > 0:24:01It's going on in two weeks' time and it's going to match next door.
0:24:01 > 0:24:03Second job, we're waiting for the architect's plans
0:24:03 > 0:24:05and that's going to hold things up a little bit.
0:24:05 > 0:24:08But because it's within the government guidelines,
0:24:08 > 0:24:09we don't need planning permission.
0:24:09 > 0:24:11So that's three metres extension, but single-storey.
0:24:11 > 0:24:12- Single-storey.- Yeah.
0:24:14 > 0:24:18The couple had a clear idea about what they wanted to do.
0:24:18 > 0:24:23They thought there was a possibility they might even move in.
0:24:23 > 0:24:26But although they agreed on a three-to-four-month timescale,
0:24:26 > 0:24:28budget was a different matter.
0:24:28 > 0:24:30- I think 25.- I think 30.
0:24:30 > 0:24:34And I think it's going to be there in between the two.
0:24:34 > 0:24:37And on this one, I'm certainly going to be his labourer, however,
0:24:37 > 0:24:39when it comes to making final decisions on kitchens
0:24:39 > 0:24:42and bathrooms, they'll be my choices.
0:24:42 > 0:24:43That's true enough.
0:24:44 > 0:24:48Mark and Joanne were making a new start after being made redundant
0:24:48 > 0:24:52and this house and garden needed someone to love and care for it.
0:24:54 > 0:24:57Nearly ten months later, have they spread the love?
0:24:57 > 0:25:02# You are so wonderful
0:25:02 > 0:25:05# Being near you
0:25:05 > 0:25:08# Is all that I'm living for
0:25:08 > 0:25:12# You've shown me more kindness
0:25:12 > 0:25:14# In little ways
0:25:14 > 0:25:16# Than I've ever known
0:25:16 > 0:25:19# In all my days
0:25:19 > 0:25:23# Tell me we'll stay together
0:25:23 > 0:25:26# Let me love you forever. #
0:25:26 > 0:25:30This really is a wonderful transformation.
0:25:30 > 0:25:34Top marks to the new developers on the block.
0:25:34 > 0:25:37It's hard to believe that this is the same house.
0:25:37 > 0:25:40The only things that are left are the joists upstairs
0:25:40 > 0:25:43and the roof trusses and the windows.
0:25:43 > 0:25:46That's literally all there is left.
0:25:46 > 0:25:48Everything else has all been replaced. It's all brand-new.
0:25:48 > 0:25:51The plaster on the walls is all new everywhere.
0:25:51 > 0:25:53All the electrics are brand-new.
0:25:53 > 0:25:56Brand-new central heating and plumbing systems and...
0:25:56 > 0:25:59- New bathrooms.- New bathrooms. - New kitchen.
0:25:59 > 0:26:00New kitchen, new floorboards,
0:26:00 > 0:26:03new floor joists all downstairs throughout.
0:26:03 > 0:26:06So, yeah, it's been...been a fair old...
0:26:06 > 0:26:08A labour of love.
0:26:08 > 0:26:10Yeah, a labour of love.
0:26:10 > 0:26:14# The look of love
0:26:14 > 0:26:16# Is in...
0:26:16 > 0:26:18# Your eyes... #
0:26:18 > 0:26:23There's clearly been a lot of thought behind the layout changes
0:26:23 > 0:26:25and that new extension that was promised.
0:26:25 > 0:26:28This was a through-lounge dining room,
0:26:28 > 0:26:31which we've basically taken back to the old, we've bricked up,
0:26:31 > 0:26:35so you have a separate lounge, and the old extension,
0:26:35 > 0:26:39which was here, has been knocked down and totally rebuilt.
0:26:39 > 0:26:42New footings suitable for two storeys
0:26:42 > 0:26:46and then upstairs, every wall was stripped back to brick
0:26:46 > 0:26:48and replastered.
0:26:48 > 0:26:51You know, we think we've got the good finished article.
0:26:51 > 0:26:54- We've also replaced every floorboard downstairs, haven't we?- Yeah.
0:26:54 > 0:26:58- Every architrave.- All the doorframes.- Absolutely everything.
0:27:00 > 0:27:03For first-time developers, Mark and Joanne have shown great courage
0:27:03 > 0:27:06in this project and the results speak for themselves.
0:27:08 > 0:27:10How would they summarize their endeavours?
0:27:10 > 0:27:15As a first project, I think it's far, far bigger than we thought.
0:27:15 > 0:27:17I think we were probably slightly naive -
0:27:17 > 0:27:19even down to the cost of skips
0:27:19 > 0:27:22and how many skips it was going to cost to remove rubbish.
0:27:22 > 0:27:26And how many vans we would have to hire to remove garden rubbish.
0:27:26 > 0:27:28I'm proud of us both that we've done it
0:27:28 > 0:27:30because, you know, at the end of the day,
0:27:30 > 0:27:34we've taken on a massive task and it's come to fruition.
0:27:34 > 0:27:37- You know, we've got the perfect house at the end of it.- Yeah.
0:27:37 > 0:27:40Perfect family home in a lovely area, you know?
0:27:41 > 0:27:45The roof has been done to match the neighbours and looks terrific.
0:27:45 > 0:27:49But the outside did present a test for their patience,
0:27:49 > 0:27:51with three attempts to get the outside rendered
0:27:51 > 0:27:53to the right standard.
0:27:53 > 0:27:56You've got scaffolding going up three times and down three times
0:27:56 > 0:27:57and it's just...
0:27:57 > 0:28:01And then all the jobs are then put back because of that, you know?
0:28:01 > 0:28:03The build went swimmingly well.
0:28:03 > 0:28:05Almost too well, if I'm being honest with you, you know?
0:28:05 > 0:28:08You don't normally see things happen in the way you want them to.
0:28:10 > 0:28:13This is very true, but again, our first-timers seem to have
0:28:13 > 0:28:16dealt with the issues in a calm and practical manner.
0:28:18 > 0:28:21But what about that dreaded woodworm?
0:28:21 > 0:28:23The woodworm was located predominantly at the back wall
0:28:23 > 0:28:26and there were other areas, but it was just patches.
0:28:26 > 0:28:28So the actual infestation wasn't too bad.
0:28:28 > 0:28:31And all the joists upstairs are absolutely fine, so...
0:28:31 > 0:28:33- So, we were lucky.- Down here.
0:28:35 > 0:28:36Well, as the saying goes,
0:28:36 > 0:28:39"The harder you work, the luckier you get."
0:28:39 > 0:28:41And Mark and Joanne certainly earned theirs.
0:28:43 > 0:28:45So, will the numbers prove to be lucky, too?
0:28:45 > 0:28:47How much did they end up spending?
0:28:49 > 0:28:53- I think we are somewhere in the region of just over 40,000.- 45.
0:28:53 > 0:28:5545...
0:28:55 > 0:28:59Which I think probably 5,000 of that has probably gone in skips...
0:28:59 > 0:29:02- There's been a lot.- And van hire.
0:29:02 > 0:29:04Van hire, skips... beyond our expectations.
0:29:06 > 0:29:09That skip thing is a cautionary tale, indeed.
0:29:09 > 0:29:12One of those hidden costs that can trip you up.
0:29:12 > 0:29:15On a more positive note, the local scrap yard took the car,
0:29:15 > 0:29:18which was unfortunately beyond repair.
0:29:19 > 0:29:23Given the quality of finish, that spend is hardly surprising,
0:29:23 > 0:29:29but it is significantly over their original 25 to 30 grand estimate.
0:29:29 > 0:29:32I do worry when there is no clear plan for the property
0:29:32 > 0:29:36that's being developed, and in this case, Mark and Joanne seem torn
0:29:36 > 0:29:41between whether this is a first step into business, or their home.
0:29:41 > 0:29:44So this might be the root of the overspend.
0:29:44 > 0:29:46So, what is their plan?
0:29:46 > 0:29:47Ultimately, we want to...
0:29:47 > 0:29:50We'd like to be mortgage-free within five years
0:29:50 > 0:29:52and live in an ideal home.
0:29:52 > 0:29:55We have the ideal home, but we wouldn't have a business.
0:29:55 > 0:29:57So, it's, you know, my head says, "Sell it."
0:29:57 > 0:30:00And my heart says, "Move in, cos it's your ideal home."
0:30:00 > 0:30:03So, to help them decide,
0:30:03 > 0:30:07we asked two local agents to give us their opinion.
0:30:07 > 0:30:10Nice modern kitchen. Centre islands are very fashionable at the minute
0:30:10 > 0:30:14and I really like the fact he's put two nice big double doors
0:30:14 > 0:30:16overlooking the private garden in.
0:30:16 > 0:30:19I think the way they've updated this house is superb
0:30:19 > 0:30:22because they've left the bedrooms quite open
0:30:22 > 0:30:25for anybody to have fitted wardrobes put in if they wanted
0:30:25 > 0:30:28or you could put fitted dressers and things like that
0:30:28 > 0:30:29in the downstairs rooms
0:30:29 > 0:30:33so I think they've done enough to make it interesting.
0:30:33 > 0:30:37Mark and Joanne have invested a total of £143,000
0:30:37 > 0:30:40creating this lovely house.
0:30:40 > 0:30:42What could it sell for?
0:30:42 > 0:30:44I think if you achieved around £200,000,
0:30:44 > 0:30:46a little bit more, would be excellent on this house.
0:30:46 > 0:30:49I think when this property goes onto the open market,
0:30:49 > 0:30:54we'd be looking £200,000 to £210,000.
0:30:56 > 0:30:59So, if you take the top estimate of £210,000
0:30:59 > 0:31:03and the overall spend of £143,000, that is a potential profit
0:31:03 > 0:31:09of a more than satisfactory £67,000 minus taxes and fees, of course.
0:31:11 > 0:31:13Well done, Mark and Joanne.
0:31:17 > 0:31:21Yeah, more than happy with those valuations, you know.
0:31:21 > 0:31:24If we can get anywhere near that, I'd be more than happy.
0:31:26 > 0:31:29With that input from the estate agents, what's the verdict?
0:31:29 > 0:31:31Will they stay or will they go?
0:31:34 > 0:31:37Do I want to drive past and every time I look at it think,
0:31:37 > 0:31:39"They're living in my house"?
0:31:39 > 0:31:40That's... So, you know...
0:31:40 > 0:31:43There's fors and againsts for both aspects
0:31:43 > 0:31:48but I think for the business side of things, we'll sell it.
0:31:48 > 0:31:51It's a shame, but watch this space.
0:31:51 > 0:31:53# Should I stay or should I go now? #
0:31:53 > 0:31:57Uh...right, so that was a decision, wasn't it?
0:31:58 > 0:32:00They've done a great job and I don't blame them
0:32:00 > 0:32:02for being in a bit of a quandary.
0:32:02 > 0:32:04But whether they stay or go,
0:32:04 > 0:32:08I have a feeling we'll be seeing them again at auction.
0:32:13 > 0:32:20Addlestone, in Surrey, began life as a quiet agricultural hamlet,
0:32:20 > 0:32:23but today it has a train station as well as shops, restaurants and bars.
0:32:25 > 0:32:30It also has excellent motorway links, being very close to the M25.
0:32:30 > 0:32:32I'm exploring a neighbourhood
0:32:32 > 0:32:35three to four minutes' drive from the town centre.
0:32:35 > 0:32:39Well, in this quiet, leafy residential area
0:32:39 > 0:32:42is the property I am here to see.
0:32:42 > 0:32:47£240,000 was the guide price for this, a three-bedroom semi.
0:32:47 > 0:32:49Now, the auction catalogue on the negative side
0:32:49 > 0:32:52says it is in need of modernisation.
0:32:52 > 0:32:56But on the plus side, there is extension potential.
0:32:56 > 0:32:58Let's take a look.
0:32:58 > 0:32:59I love that word, potential.
0:32:59 > 0:33:03And it's not a bad-looking '60s house.
0:33:03 > 0:33:07And since the house isn't that old, how bad could it be?
0:33:07 > 0:33:10Pleasant little entrance area here.
0:33:10 > 0:33:13Stairs winding up that way to your bedrooms, under-stair space.
0:33:13 > 0:33:15You've got a living room towards the front there
0:33:15 > 0:33:18and then straight through here to your kitchen.
0:33:18 > 0:33:21It's not bad in terms of size
0:33:21 > 0:33:25but modernisation most definitely required in here
0:33:25 > 0:33:28and it's a room that you could make a massive amount of difference to
0:33:28 > 0:33:30just by picking some nice units
0:33:30 > 0:33:34and carefully converting this into something a bit more modern.
0:33:34 > 0:33:36In terms of extension potential though...
0:33:38 > 0:33:40Just because there is potential for extending
0:33:40 > 0:33:43doesn't mean you should, of course.
0:33:43 > 0:33:45It's worth thinking it through
0:33:45 > 0:33:49because there is a fair amount of space downstairs.
0:33:49 > 0:33:52Between the front room with the '60s psychedelic walls
0:33:52 > 0:33:55and the dated kitchen, there is a dining room
0:33:55 > 0:33:58which, in terms of floor space, is great
0:33:58 > 0:34:00but in terms of flow, not so good.
0:34:00 > 0:34:02I want to have a think about that.
0:34:02 > 0:34:05There is already a small extension added.
0:34:05 > 0:34:10It houses a ground floor loo and a utility room which looks...
0:34:10 > 0:34:12underutilised.
0:34:12 > 0:34:14And I reckon something better could be done.
0:34:14 > 0:34:16Now, in general, it's always easier
0:34:16 > 0:34:18to get planning permission for extensions at the back
0:34:18 > 0:34:21and side of a property rather than the front so that is good news
0:34:21 > 0:34:23because that is exactly what you'd want to do here.
0:34:23 > 0:34:27And just looking at it, you can see either an extension out the back,
0:34:27 > 0:34:31possibly one or two storey, possibly an extension at the side
0:34:31 > 0:34:33over the existing single-storey bit that is there,
0:34:33 > 0:34:35definitely worth doing.
0:34:35 > 0:34:38How about a wraparound that encompassed the two?
0:34:38 > 0:34:41At the end of the day, it would all come down to the cost
0:34:41 > 0:34:45and if it was going to add that amount of value or more
0:34:45 > 0:34:46to the property itself.
0:34:47 > 0:34:51To extend or not extend? That might be the question.
0:34:51 > 0:34:54I think I'll take a look upstairs and ruminate.
0:34:54 > 0:34:58There's a bathroom, a good place to ruminate in,
0:34:58 > 0:35:00and two bedrooms.
0:35:00 > 0:35:03Oh, and look, up, more potential. A loft.
0:35:03 > 0:35:05Are you thinking what I'm thinking?
0:35:05 > 0:35:08However, that one definitely needs homework.
0:35:08 > 0:35:10Loft conversions can be expensive.
0:35:12 > 0:35:14So what about taking the focus off the bigger
0:35:14 > 0:35:16and thinking about the better?
0:35:16 > 0:35:20One room you might want to consider enhancing is this here.
0:35:20 > 0:35:23It's your main living-dining room area.
0:35:23 > 0:35:26And your first thought might be to take out
0:35:26 > 0:35:30this rather large bit of wall which incorporates the chimney.
0:35:30 > 0:35:32It wouldn't be too difficult.
0:35:32 > 0:35:36Stick a supporting beam in there, open plan it all up.
0:35:36 > 0:35:39How's this for an alternative?
0:35:39 > 0:35:41This is, as I said, a fireplace
0:35:41 > 0:35:43and I've seen a design which I really loved
0:35:43 > 0:35:47where a fireplace like this was opened out on both sides
0:35:47 > 0:35:49so you have a really nice fire in the middle
0:35:49 > 0:35:53and then you can access it from both sides of the room.
0:35:53 > 0:35:56It makes a stunning feature in a property
0:35:56 > 0:35:58and would basically be really easy to do
0:35:58 > 0:36:01and certainly cheaper than taking it out.
0:36:04 > 0:36:08There are indeed bags of possibilities and lots of potential.
0:36:08 > 0:36:11But you do have to remember that this is a semi
0:36:11 > 0:36:15and so it will have a ceiling price.
0:36:15 > 0:36:17And there is also something else
0:36:17 > 0:36:20that might have a bearing on the resale figures here.
0:36:20 > 0:36:24A development of over 360 houses is under way nearby.
0:36:24 > 0:36:27You need to think of what kind of impact that would have
0:36:27 > 0:36:32on this house, guided at £240,000, and its ultimate value.
0:36:33 > 0:36:36A local estate agent came along to tell us more.
0:36:36 > 0:36:39I think the new development will have an impact,
0:36:39 > 0:36:40certainly, on the local area.
0:36:40 > 0:36:43What was predominantly a very green belt area with open fields
0:36:43 > 0:36:46which was really popular with dog walkers
0:36:46 > 0:36:47has now become a housing estate.
0:36:47 > 0:36:50Density with traffic and school places
0:36:50 > 0:36:53certainly plays a key factor for people
0:36:53 > 0:36:57when they are making decisions as to which area to move to.
0:36:57 > 0:37:00With that in mind, extending might not be an option
0:37:00 > 0:37:03if you're looking at this house as an investment.
0:37:03 > 0:37:05What would the agent advise?
0:37:05 > 0:37:10Ceiling price for a property such as this is around £390,000,
0:37:10 > 0:37:12which is something you really need to bear in mind
0:37:12 > 0:37:14when you're thinking about extending.
0:37:14 > 0:37:17My honest opinion is the property would benefit from a minor
0:37:17 > 0:37:20or small ground floor extension.
0:37:20 > 0:37:22Maybe pushing out the dining area
0:37:22 > 0:37:23or actually making more use
0:37:23 > 0:37:27of what is predominantly a utility area at the moment.
0:37:27 > 0:37:32Time to see how the maths pan out. What does the agent think?
0:37:32 > 0:37:35Once this property has been renovated and kept to the original size
0:37:35 > 0:37:37but with new fixtures and fittings throughout,
0:37:37 > 0:37:42I'd look to achieve somewhere in the region of £320,000 to £325,000.
0:37:42 > 0:37:45Well, it's certainly a lovely area
0:37:45 > 0:37:48and a reasonable amount of house for the money
0:37:48 > 0:37:51but it could be oh-so-much more.
0:37:51 > 0:37:53Let's see who had the imagination to take this place on
0:37:53 > 0:37:55when it went under the hammer.
0:37:55 > 0:37:58This is lot 61. Three-bed semidetached house.
0:37:58 > 0:38:00£200,000.
0:38:00 > 0:38:02Thank you. £200,000.
0:38:02 > 0:38:03205 anywhere?
0:38:03 > 0:38:05205. 210?
0:38:05 > 0:38:08210. 215?
0:38:08 > 0:38:12220. 225. 230.
0:38:12 > 0:38:18235. 240. 245. 250.
0:38:18 > 0:38:21255. 260. 265.
0:38:21 > 0:38:24266. 267.
0:38:24 > 0:38:27268. 269.
0:38:27 > 0:38:30270. 271.
0:38:30 > 0:38:33272. 273.
0:38:33 > 0:38:35274, sir?
0:38:35 > 0:38:38275. 276.
0:38:38 > 0:38:41275 down here. 275.
0:38:41 > 0:38:45First time. Second time.
0:38:45 > 0:38:48Third and last time. If you're all done.
0:38:48 > 0:38:50Sold, 275. Well done.
0:38:50 > 0:38:54And that final bid of £275,000 was from Heather,
0:38:54 > 0:38:57who came to the auction with one of her sons.
0:39:00 > 0:39:04This purchase is a family investment but first-time developer Heather
0:39:04 > 0:39:08came along with her friend Helen to tell us more.
0:39:08 > 0:39:10Helen, Heather, great to meet you both. Congratulations.
0:39:10 > 0:39:12Tell me why you wanted to buy this place.
0:39:12 > 0:39:15We're doing it really for investment reasons.
0:39:15 > 0:39:16And it was my son that saw the property
0:39:16 > 0:39:18and thought it had some really good potential
0:39:18 > 0:39:21and which is why we went for it.
0:39:21 > 0:39:23- I mean, it's a lovely little spot. - It's great, isn't it?
0:39:23 > 0:39:25It's absolutely perfect.
0:39:25 > 0:39:27So, Helen, what's your involvement in all this?
0:39:27 > 0:39:30I've done a bit of this before so I'm going to try and help out
0:39:30 > 0:39:33and between the two of us, we should be able to keep it on track.
0:39:33 > 0:39:35So, have you two worked together before?
0:39:35 > 0:39:37No, actually, no, we haven't.
0:39:37 > 0:39:39- Not yet.- This is our first project.
0:39:39 > 0:39:43- So you're chums but not working partners.- No.
0:39:43 > 0:39:46- Is that going to be all right? - I think so.
0:39:46 > 0:39:48- Well, you can hardly sack her, can you?- No, exactly!
0:39:48 > 0:39:52This is a family and friends project
0:39:52 > 0:39:55but it's the friends that are going to be in charge of the work.
0:39:55 > 0:39:56So what's the plan?
0:39:56 > 0:40:00Well, basically, we're just going to refurbish the whole house.
0:40:00 > 0:40:04We're going to change the kitchen, new bathroom, new downstairs loo,
0:40:04 > 0:40:09tiles, carpets throughout, paint every room and the outside as well.
0:40:09 > 0:40:12- The garden, just tidy it up? - Definitely.
0:40:12 > 0:40:16The garden, we'll put nice little picket fence up just to segregate it
0:40:16 > 0:40:19and we'll just make it into a really pretty, cottagey, little house.
0:40:21 > 0:40:23A cottagey feel in a '60s house? Hmm.
0:40:23 > 0:40:26Maybe it's time for my fireplace idea.
0:40:26 > 0:40:30So talking through the rooms then, this one where we're standing,
0:40:30 > 0:40:32what about this fireplace?
0:40:32 > 0:40:34I think we want to open it up if we can
0:40:34 > 0:40:36and turn it back into a fireplace.
0:40:36 > 0:40:39Now, I did have a thought which you might want to nick, basically.
0:40:39 > 0:40:42- Open it up so you can see it from both sides.- Ah.
0:40:42 > 0:40:45- Well...- It's a possibility.
0:40:45 > 0:40:47As long as it draws well we could easily do that, yeah.
0:40:47 > 0:40:49I've seen it done and it looks really nice.
0:40:49 > 0:40:52- It definitely would work. It'd be a nice feature.- Yeah.
0:40:52 > 0:40:54- It would be a nice feature, actually. - Watch this space.
0:40:54 > 0:40:58So what about that extension?
0:40:58 > 0:41:01We looked at that but then if we go for an extension
0:41:01 > 0:41:05and we do an upstairs extension we'd have to go for planning permission
0:41:05 > 0:41:07so that would delay the project by two or three months
0:41:07 > 0:41:09so it was just a headache.
0:41:09 > 0:41:12So we just decided on keeping it simple.
0:41:12 > 0:41:15Obviously you've got what is a single-storey extension on the side
0:41:15 > 0:41:19and that has formed the various little rooms out there.
0:41:19 > 0:41:21What is your plans for that?
0:41:21 > 0:41:24I think we're just going to try and make a bit more sense of that space
0:41:24 > 0:41:26because it is wasted, really and hopefully
0:41:26 > 0:41:30we can make it into a decent room and a nice downstairs loo.
0:41:30 > 0:41:32And then keep it separate from the kitchen,
0:41:32 > 0:41:35which will be essentially a galley kitchen.
0:41:35 > 0:41:39They've set a budget of £15,000 for the work
0:41:39 > 0:41:43and they spent £275,000 at auction.
0:41:43 > 0:41:48With the value being around £320,000 and upwards, there is profit in it
0:41:48 > 0:41:51but I think they are right to be cautious.
0:41:51 > 0:41:54We're just going to try and play it really safe with what we do,
0:41:54 > 0:41:56- keep it simple.- Right.- Yeah.
0:41:56 > 0:41:58And if you stick to that 15 grand budget,
0:41:58 > 0:42:01you need to really make sure that you're going to maximise the profit.
0:42:01 > 0:42:02I think so, yeah.
0:42:02 > 0:42:04- We should be OK.- Should be OK.
0:42:04 > 0:42:06- We'll see.- Well, listen, congratulations.
0:42:06 > 0:42:07- Good luck with it.- Thank you.
0:42:07 > 0:42:10We look forward to seeing how you get on.
0:42:10 > 0:42:13Well, Heather certainly seems to have the right idea for this place,
0:42:13 > 0:42:15however, margins are tight
0:42:15 > 0:42:18so she does need to keep a close eye on the budget.
0:42:18 > 0:42:21How will she get on? You can find out later in the show.
0:42:24 > 0:42:27I wonder if our buyers' plans have worked out.
0:42:27 > 0:42:30- Have there been any problems? - Well, it is the day of reckoning.
0:42:30 > 0:42:32Let's go back and find out.
0:42:37 > 0:42:39We return now to Maidstone, in Kent,
0:42:39 > 0:42:42where Joe purchased this sweet little bungalow
0:42:42 > 0:42:47on a massive 0.38 acre site for £245,000.
0:42:47 > 0:42:52- So, what are you going to do here? - There are a number of options.
0:42:52 > 0:42:55When I first looked at the property,
0:42:55 > 0:43:00I was looking at keeping it as it is and then extending it slightly,
0:43:00 > 0:43:02renovating and going upwards and backwards
0:43:02 > 0:43:06and then possibly putting something at the back with a side access.
0:43:06 > 0:43:08We've come up with a few other ideas as well.
0:43:08 > 0:43:11One of those is my other half would like to keep it
0:43:11 > 0:43:15for our own personal residential home as well.
0:43:16 > 0:43:19Before Joe's wife set her sights on living here,
0:43:19 > 0:43:21the plan was to chop the garden in half
0:43:21 > 0:43:24and create a new house with its own access.
0:43:25 > 0:43:29- OK, so you looked at this as a big development project.- Yes.
0:43:29 > 0:43:30But now your wife has got all excited.
0:43:30 > 0:43:33She's seen it for herself and she wants to live here.
0:43:33 > 0:43:36She fell in love with it. She likes the size of the plot.
0:43:36 > 0:43:39I'm still trying to convince her with a couple of other options,
0:43:39 > 0:43:41keeping the plot but maybe
0:43:41 > 0:43:43alternatives at the back at the moment.
0:43:43 > 0:43:47So Joe had many options here - to extend the existing bungalow,
0:43:47 > 0:43:51to knock it down and build a new house, to break up the garden
0:43:51 > 0:43:53and build numerous houses.
0:43:53 > 0:43:55Decisions, decisions.
0:43:55 > 0:43:58All relying on planning permission.
0:43:58 > 0:44:01And 11 months later, the result.
0:44:24 > 0:44:28We originally wanted to go with the option of a house
0:44:28 > 0:44:31and basically extend the bungalow upwards
0:44:31 > 0:44:35and also build a couple of properties at the back of the garden.
0:44:35 > 0:44:37We didn't get that option from the planners
0:44:37 > 0:44:41so I decided I would go for a side extension
0:44:41 > 0:44:42and a chalet bungalow,
0:44:42 > 0:44:45which is what we eventually got passed by the planners
0:44:45 > 0:44:47so we've gone about four metres to the right-hand side,
0:44:47 > 0:44:51half a metre or so on the left-hand side and we knocked down the front
0:44:51 > 0:44:53because it looked rather ugly
0:44:53 > 0:44:55to make it a little bit more appealing
0:44:55 > 0:44:59and give it a wider hallway and an entrance area.
0:44:59 > 0:45:04I'm wondering why, with so little of the original bungalow left,
0:45:04 > 0:45:07he didn't just build from scratch.
0:45:07 > 0:45:09Because they wouldn't let me build a house on here.
0:45:09 > 0:45:12Their argument was there's bungalows to the left
0:45:12 > 0:45:13and bungalows to the right.
0:45:13 > 0:45:16My argument was there's a house across the road
0:45:16 > 0:45:18which has bungalows to the left and the right.
0:45:18 > 0:45:21The planners' argument was that, "Well, that was done in the past.
0:45:21 > 0:45:23"We've changed the rules."
0:45:24 > 0:45:28Joe weighed everything up and opted to extend the original bungalow
0:45:28 > 0:45:31to create this chalet bungalow with upstairs space.
0:45:33 > 0:45:35It will have, upstairs, four double bedrooms.
0:45:35 > 0:45:38One, a master bedroom, will be larger,
0:45:38 > 0:45:41two en-suite rooms, en-suite bathrooms,
0:45:41 > 0:45:43one main bathroom upstairs.
0:45:43 > 0:45:46Then downstairs, there will be three reception rooms,
0:45:46 > 0:45:51one large and two double rooms, and a large kitchen and a garage.
0:45:52 > 0:45:55Wow. A new house in all but name,
0:45:55 > 0:45:58especially when you consider the extra square footage
0:45:58 > 0:45:59being added to this property.
0:46:00 > 0:46:04Well, if you just take downstairs, it's increased by just over 50%.
0:46:04 > 0:46:08If you take the upstairs, it's more than double the living space.
0:46:09 > 0:46:13I reckoned from the start this big plot could take a big house.
0:46:13 > 0:46:15However, all the wrangling over planning
0:46:15 > 0:46:19has taken its toll on Joe's six to nine months' time frame.
0:46:20 > 0:46:23We got approval, in the end, in March.
0:46:23 > 0:46:26Unfortunately, I got let down by my architect,
0:46:26 > 0:46:28which meant I had to find somebody else
0:46:28 > 0:46:30to take over the next part of it,
0:46:30 > 0:46:33which was to do the building regulations plans
0:46:33 > 0:46:36and he couldn't work for another three, four weeks
0:46:36 > 0:46:38so we got another delay there.
0:46:38 > 0:46:40And then eventually, he started working on it
0:46:40 > 0:46:44and we got that approved and we are now into our ninth week.
0:46:44 > 0:46:47So, we've made pretty good progress,
0:46:47 > 0:46:50considering the fact that we've only had two months at it.
0:46:51 > 0:46:55Joe predicts it'll take another two months to complete the work.
0:46:55 > 0:46:59It's been a long battle and not just with the paperwork side of things.
0:47:00 > 0:47:03The building process has proved troublesome too.
0:47:03 > 0:47:07The original plan was to use the bungalow's internal walls, but...
0:47:08 > 0:47:12The bricks basically were held together by the render.
0:47:12 > 0:47:15The mortar inside was purely just sand
0:47:15 > 0:47:19and you could pick it up, you could pick the bricks up,
0:47:19 > 0:47:23so there was no other option than to actually rebuild the walls.
0:47:25 > 0:47:28Add to that issues with woodworm in the joists and foundations.
0:47:28 > 0:47:31Oh, this has not been an easy journey!
0:47:31 > 0:47:34Joe originally did his sums and worked out
0:47:34 > 0:47:37that extending was the better financial option
0:47:37 > 0:47:40rather than building an entirely new bungalow.
0:47:40 > 0:47:42But with all the issues he uncovered...
0:47:42 > 0:47:44If I'd known at the start
0:47:44 > 0:47:47that the walls inside were going to be this bad,
0:47:47 > 0:47:51I think it would have been cheaper, where we've got to at the moment,
0:47:51 > 0:47:53to actually say, "We'll bulldoze it all down."
0:47:53 > 0:47:56So, in a way, if I'd known what I know now,
0:47:56 > 0:47:58I probably would have knocked it down.
0:48:03 > 0:48:07Hindsight, as they say, is a wonderful thing.
0:48:07 > 0:48:10But at £245,000,
0:48:10 > 0:48:13this plot was still tremendous value.
0:48:14 > 0:48:17Building spend wise, how are things progressing?
0:48:17 > 0:48:21We've spent approximately £45,000.
0:48:21 > 0:48:23It's about £25,000 on materials
0:48:23 > 0:48:28and probably around £20,000 in terms of labour costs.
0:48:28 > 0:48:30It's just a basic split.
0:48:30 > 0:48:33We still have quite a bit to spend.
0:48:34 > 0:48:39Joe reckons his eventual spend should be around £100,000,
0:48:39 > 0:48:42but he's prepared for £125,000.
0:48:42 > 0:48:47If we add that higher sum to his purchase price of £245,000,
0:48:47 > 0:48:51it would mean a grand total of 370 grand invested here.
0:48:52 > 0:48:55We asked two local estate agents to come along
0:48:55 > 0:48:59and tell us how this chalet bungalow might fare on the local market.
0:49:01 > 0:49:04The appeal of the chalet bungalow that they've ended up with
0:49:04 > 0:49:07is that it would be a house, yeah?
0:49:07 > 0:49:10It has got an upstairs, but it is a bungalow
0:49:10 > 0:49:14so could be adapted for somebody who needs rooms downstairs.
0:49:14 > 0:49:17My first impression is it's an excellent house
0:49:17 > 0:49:21in an excellent position on an excellent plot.
0:49:22 > 0:49:25Well, there you have it. Positivity all round.
0:49:25 > 0:49:29But Joe's into this project for £370,000.
0:49:29 > 0:49:32So, what sort of resale value could it make?
0:49:32 > 0:49:34The sales value of this property,
0:49:34 > 0:49:38when completed, as I said, dependent upon a good finish,
0:49:38 > 0:49:43could be from £470,000 to £500,000.
0:49:43 > 0:49:45I predict a sale value for this property
0:49:45 > 0:49:49to be in the region of £450,000 to £475,000.
0:49:49 > 0:49:53I would probably say it's going to be around £500,000 to £525,000.
0:49:53 > 0:49:55Maybe more. It depends on the finish.
0:49:56 > 0:49:59When finished, there's an excellent chance
0:49:59 > 0:50:02of Joe selling this property for £500,000.
0:50:03 > 0:50:06If he manages to stay within budget,
0:50:06 > 0:50:08he is looking at a profit of £130,000,
0:50:08 > 0:50:11minus taxes and expenses, of course.
0:50:12 > 0:50:15That's the kind of figure that would bring a smile to anyone's face, I think.
0:50:22 > 0:50:24With those kinds of numbers,
0:50:24 > 0:50:29is Joe still seriously considering making it the new family home?
0:50:29 > 0:50:31If somebody offers me the right price for this,
0:50:31 > 0:50:33then I probably will sell,
0:50:33 > 0:50:35although I'd like to move into it
0:50:35 > 0:50:37cos I think it's got a lot more potential.
0:50:37 > 0:50:38We'll see what happens.
0:50:38 > 0:50:40We will indeed
0:50:40 > 0:50:44and we shall also return to find out how Joe got on.
0:50:50 > 0:50:53We return to Surrey now and the small town of Addlestone,
0:50:53 > 0:50:57where earlier, I visited the nearby village of Row Town
0:50:57 > 0:51:00and this three-bed semi in need of some modernisation,
0:51:00 > 0:51:02but with great potential.
0:51:05 > 0:51:08It was bought by local businesswoman Heather
0:51:08 > 0:51:11who, for £275,000,
0:51:11 > 0:51:14had purchased it as a family investment.
0:51:14 > 0:51:16And along with family friend Helen helping,
0:51:16 > 0:51:18had some pretty big plans.
0:51:19 > 0:51:23Well, basically, we're just going to refurbish the whole house.
0:51:23 > 0:51:27We're going to change the kitchen, new bathroom, new downstairs loo,
0:51:27 > 0:51:29tiles, carpets throughout.
0:51:29 > 0:51:32You know, paint every room and the outside as well.
0:51:32 > 0:51:34- Mm-hm. The garden, just tidy it up? - Oh, definitely.
0:51:34 > 0:51:37The garden, we'll put a nice little picket fence up,
0:51:37 > 0:51:39you know, just to sort of segregate it
0:51:39 > 0:51:43and we'll just make it into a really pretty, cottagey, little house.
0:51:43 > 0:51:46With the more experienced Helen advising,
0:51:46 > 0:51:49not to mention Heather's two sons also mucking in,
0:51:49 > 0:51:52she seemed confident that this tired, three-bed semi
0:51:52 > 0:51:53could be revitalised.
0:51:55 > 0:51:59Six months later, we've come back to see if she was right.
0:52:10 > 0:52:13Filling the gap between the two reception rooms
0:52:13 > 0:52:17has actually made the downstairs feel more open and spacious
0:52:17 > 0:52:19and that reconditioned fireplace
0:52:19 > 0:52:22gives that cottagey feel that Heather was after.
0:52:24 > 0:52:27The brand-new kitchen is bright, fresh and attractive
0:52:27 > 0:52:31and leads to the previously dark and dingy extension
0:52:31 > 0:52:34that now houses the brand-new downstairs cloakroom.
0:52:37 > 0:52:40Even though Heather and her team haven't extended downstairs,
0:52:40 > 0:52:46I think what they have done has gone above and beyond my expectations.
0:52:46 > 0:52:47I just love this house.
0:52:47 > 0:52:50It is just lovely and bright and fresh.
0:52:50 > 0:52:52I could easily live here.
0:52:52 > 0:52:53You've got a big kitchen,
0:52:53 > 0:52:57you've got two good-sized reception rooms,
0:52:57 > 0:52:58three good-sized bedrooms.
0:52:58 > 0:53:01It's just...all of it's lovely.
0:53:01 > 0:53:04Speaking of bedrooms, let's take a look.
0:53:14 > 0:53:16They've opened up the area above the stairs
0:53:16 > 0:53:19to create more space for the smallest of the three bedrooms.
0:53:22 > 0:53:25And along with the sleek and modern bathroom,
0:53:25 > 0:53:27the upstairs compliments the downstairs
0:53:27 > 0:53:30with its contemporary cottage feel.
0:53:35 > 0:53:37With a close eye on interior design,
0:53:37 > 0:53:40Heather and her team have created a desirable, modern home,
0:53:40 > 0:53:43which is also full of character and appeal,
0:53:43 > 0:53:47with the newly-tidied back garden the icing on top.
0:53:49 > 0:53:53But this project certainly hasn't been a piece of cake.
0:53:53 > 0:53:57We literally stripped everything so it was a shell.
0:53:57 > 0:53:58The loft...
0:53:58 > 0:54:03We had issues with the loft - waspnests, rats' droppings.
0:54:03 > 0:54:06Everything had to come out of the loft.
0:54:06 > 0:54:08The driveway was just an absolute nightmare.
0:54:08 > 0:54:10We didn't know what to do with the driveway
0:54:10 > 0:54:13and we didn't know whether we should be spending this or that
0:54:13 > 0:54:14or try and do it ourselves.
0:54:14 > 0:54:16We were very fortunate with the driveway
0:54:16 > 0:54:20because a company was doing several driveways down the road
0:54:20 > 0:54:22so we were able to capitalise on that
0:54:22 > 0:54:24and we ended up with a lovely driveway.
0:54:25 > 0:54:29The fact Heather could see the quality of work being done by this company was a good thing.
0:54:29 > 0:54:34However, always be cautious if people knock on your door
0:54:34 > 0:54:36and offer you these kind of services out of the blue.
0:54:36 > 0:54:39It often ends very badly.
0:54:39 > 0:54:43I didn't spend a lot of time on site whilst the job was being done,
0:54:43 > 0:54:45but both my sons were on site.
0:54:45 > 0:54:48Her friend Helen was involved too
0:54:48 > 0:54:51and they are all delighted with the result.
0:54:53 > 0:54:57This is a high-end finish and Heather should be very proud.
0:54:59 > 0:55:03So, how has she done on her timescale and budget?
0:55:03 > 0:55:06Budget to start off with was quite small.
0:55:06 > 0:55:08We were hoping for round about the £15,000 mark
0:55:08 > 0:55:11and we kept the spreadsheet going
0:55:11 > 0:55:13and we knew exactly what we were spending
0:55:13 > 0:55:15and then it started to go over the £15,000,
0:55:15 > 0:55:18but it was things like we wanted to change the soffit
0:55:18 > 0:55:20and put the pipes all underneath,
0:55:20 > 0:55:24we wanted to put a new driveway up, so things started adding up.
0:55:24 > 0:55:27And, you know, it was so lovely inside,
0:55:27 > 0:55:30we had to do stuff on the outside as well to match it.
0:55:30 > 0:55:32It just seemed silly to do half a job.
0:55:32 > 0:55:34So, the budget, unfortunately, came in at around...
0:55:34 > 0:55:38It was about £30,000 after everything.
0:55:38 > 0:55:40But, yeah, money well spent.
0:55:40 > 0:55:42In terms of timescale,
0:55:42 > 0:55:45we anticipated it taking about three months.
0:55:45 > 0:55:47It took six months, but then, having said that,
0:55:47 > 0:55:53we spent double the budget, but we weren't bothered by that.
0:55:53 > 0:55:55It wasn't a problem because
0:55:55 > 0:55:58the property prices were going up month by month
0:55:58 > 0:56:00so we were happy to sit on it.
0:56:00 > 0:56:04Heather was lucky she found a reliable local builder to do the work
0:56:04 > 0:56:06while she balanced the books herself.
0:56:09 > 0:56:11And even though it's gone over budget
0:56:11 > 0:56:15with a total spend of £305,000, she's clearly delighted.
0:56:19 > 0:56:23But will two local estate agents share her delight,
0:56:23 > 0:56:26starting with the agent who saw it originally?
0:56:26 > 0:56:30Since I last saw the property, it's come on in leaps and bounds.
0:56:30 > 0:56:32The finish they've put on is really, really nice.
0:56:32 > 0:56:34Nice, modern, contemporary finish
0:56:34 > 0:56:37that I'm sure will be really popular with families.
0:56:37 > 0:56:38The property will appeal
0:56:38 > 0:56:41to both professional people with young families
0:56:41 > 0:56:43and also people downsizing
0:56:43 > 0:56:45because of the fact there's nothing to do here.
0:56:45 > 0:56:48You can open the front door, unpack and move in.
0:56:48 > 0:56:52Well, before anyone can do that, we need valuations...
0:56:53 > 0:56:56..starting with rental predictions.
0:56:56 > 0:57:01I'd expect to achieve probably a value of around £1,400 to £1,450
0:57:01 > 0:57:02per calendar month.
0:57:02 > 0:57:06The property is very lettable in its current condition
0:57:06 > 0:57:12and I believe would rent for around £1,350 to £1,400 per calendar month.
0:57:12 > 0:57:15Taking the highest estimation there,
0:57:15 > 0:57:19that would mean a possible yield of nearly 6%.
0:57:19 > 0:57:20So, what about the sale figures?
0:57:20 > 0:57:23I'd expect the property to achieve somewhere in the region
0:57:23 > 0:57:27of £365,000 to £375,000.
0:57:27 > 0:57:33I think this property would sell for around £390,000 to £395,000.
0:57:34 > 0:57:36Taking that top valuation
0:57:36 > 0:57:41would mean a possible pre-tax profit of £90,000 -
0:57:41 > 0:57:44a figure Heather and her team can be very proud of.
0:57:45 > 0:57:48But has this experience scared her off
0:57:48 > 0:57:50or is she raring to go again?
0:57:50 > 0:57:53If we sell this, I would happily do another project
0:57:53 > 0:57:56and maybe a slightly bigger project, now that we've done this.
0:57:56 > 0:58:02And it's been such fun and it's turned out just...just great.
0:58:02 > 0:58:04So, yeah, I would definitely do it again.
0:58:07 > 0:58:10Well, we hope you've enjoyed watching the properties
0:58:10 > 0:58:12that went under the hammer on today's show.
0:58:12 > 0:58:13And we look forward to seeing you soon
0:58:13 > 0:58:16for more thrills and spills from the auction room.
0:58:16 > 0:58:18- Goodbye for now.- Goodbye.