0:00:02 > 0:00:05Hello and welcome to the show. Sometimes when you're buying
0:00:05 > 0:00:07at auction, the heart can rule the head.
0:00:07 > 0:00:09But that's not always a bad thing.
0:00:09 > 0:00:11We should always be prepared for those pitfalls.
0:00:11 > 0:00:14Yes. Now, nobody wants to pay over the odds,
0:00:14 > 0:00:17and a good place to start is your local property auction.
0:00:43 > 0:00:44Now, here on Homes Under The Hammer,
0:00:44 > 0:00:47one of the cardinal sins is not doing your research on the property
0:00:47 > 0:00:49and the area that it's in.
0:00:49 > 0:00:51Yeah, we always say,
0:00:51 > 0:00:54"Visit the property beforehand and read the legal pack."
0:00:54 > 0:00:56- But you know what?- What? - People just ignore us!
0:00:56 > 0:00:59Were the buyers on today's show saints or sinners?
0:00:59 > 0:01:00Let's find out.
0:01:02 > 0:01:05Strange things are going on in this Cheshire bungalow.
0:01:07 > 0:01:10Just a few things that have got me a bit flummoxed.
0:01:12 > 0:01:16Well, Martin, not as strange as my visit to this barbershop and flat
0:01:16 > 0:01:18in Rochdale, Lancashire.
0:01:19 > 0:01:20I'm not sure I can carry this off.
0:01:22 > 0:01:26And the price of 90 grand is hair-raising at this site
0:01:26 > 0:01:28in Eccles, Kent, considering what you get!
0:01:28 > 0:01:31Da-da-daah! A couple of sheds! Ha-ha!
0:01:33 > 0:01:35All these properties are being sold at auction.
0:01:35 > 0:01:38We'll find out who got them and how much they paid for them
0:01:38 > 0:01:41when they went under the hammer.
0:01:41 > 0:01:42Well done.
0:01:46 > 0:01:51Alsager is a small town in Cheshire situated six miles from Crewe
0:01:51 > 0:01:53with fantastic rail links.
0:01:53 > 0:01:56The town's growth stems from the nearby potteries,
0:01:56 > 0:01:58and in the Second World War,
0:01:58 > 0:02:02workers flocked to the town to work in the nearby armaments factory.
0:02:02 > 0:02:05But it's all quiet on this Western Front now.
0:02:07 > 0:02:10Neighbourhoods with lots of bungalows, I love them.
0:02:10 > 0:02:13They're peaceful, they're generally well-kept.
0:02:13 > 0:02:17Yeah, and bungalows, as you know if you've seen the show for a while,
0:02:17 > 0:02:20well, I'm a great fan of them. And here is a classic.
0:02:20 > 0:02:23£95,000 was the guide price,
0:02:23 > 0:02:25looks to be in reasonable condition.
0:02:25 > 0:02:27Let's take a look.
0:02:29 > 0:02:30Oh.
0:02:30 > 0:02:33That's not a good start, is it?
0:02:33 > 0:02:35Something going on there, looks like a bit of damp.
0:02:35 > 0:02:39But, erm, nice little entrance for you, apart from that.
0:02:39 > 0:02:42And it's through into a fairly classic layout for these kind of bungalows,
0:02:42 > 0:02:45a central area off which all the different rooms spread.
0:02:46 > 0:02:47Oh.
0:02:48 > 0:02:51The second thing that's not so brilliant. What is going on there?
0:02:51 > 0:02:56As you can see, all the paint is coming off the doorframe here.
0:02:58 > 0:03:01Very odd. But anyway, kitchen there. It looks little bit dated,
0:03:01 > 0:03:04but it's a reasonable size and you've got windows on two sides,
0:03:04 > 0:03:06so you've got lots of light coming in there.
0:03:06 > 0:03:07It needs a bit of tarting up,
0:03:07 > 0:03:09but apart from that, it's quite pleasant.
0:03:09 > 0:03:10Um, I mean...
0:03:13 > 0:03:14Huh?
0:03:15 > 0:03:17That's very odd.
0:03:17 > 0:03:19Another bit of a conundrum.
0:03:20 > 0:03:23The bottom of the doorframe there has all rotted away
0:03:23 > 0:03:25and it looks like there's damp on that wall.
0:03:25 > 0:03:28It seems to me there's portions of the bungalow
0:03:28 > 0:03:31where there's a bit of a damp issue, and yet it doesn't smell damp
0:03:31 > 0:03:33and the carpet's not particularly ruined and...
0:03:35 > 0:03:36Hmm.
0:03:36 > 0:03:40My property-developer brain is working overtime on this one,
0:03:40 > 0:03:42and it can't quite figure it out.
0:03:42 > 0:03:44I will eventually, though.
0:03:44 > 0:03:47Through into the living room, erm, and it's of that era.
0:03:47 > 0:03:52It's a 1960s bungalow and lots of the original 1960s features are still here.
0:03:52 > 0:03:55But I'm not seeing anything which I don't like.
0:03:55 > 0:03:58Just a few things that have got me a bit flummoxed.
0:03:59 > 0:04:02I wonder if the water tank has flooded at some point.
0:04:03 > 0:04:06That could account for why it seems worse around the bathroom area,
0:04:06 > 0:04:09but it doesn't explain why the wood has rotted.
0:04:10 > 0:04:11I'm still flummoxed.
0:04:13 > 0:04:17One thing for sure, it wasn't caused by an overflowing bath.
0:04:17 > 0:04:18There isn't one.
0:04:18 > 0:04:20MUSIC: The Flood by Take That
0:04:20 > 0:04:21# No-one understood
0:04:21 > 0:04:23# We were holding back the flood
0:04:23 > 0:04:26# Learning how to dance the rain... #
0:04:26 > 0:04:29It'd be nice if it had a bath in there. Unfortunately, it's only big enough for a shower,
0:04:29 > 0:04:31unless you do a bit of jiggery-pokery.
0:04:31 > 0:04:33Erm, and then two bedrooms.
0:04:33 > 0:04:39One there. Erm, again, I love the fact you've got these windows looking out onto the garden,
0:04:39 > 0:04:42and it's not a huge bungalow, but it's got everything you need.
0:04:42 > 0:04:44It's got two bedrooms.
0:04:44 > 0:04:46This is one of them.
0:04:46 > 0:04:50Well, the second one of them. Built-in cupboards - quite nice, maybe.
0:04:50 > 0:04:55Erm, it needs a bit of decoration, needs a bit of bringing up to date.
0:04:55 > 0:04:58But no signs of that localised damp or whatever that problem is in here,
0:04:58 > 0:05:00which is good news.
0:05:00 > 0:05:04And overall, it's a fairly together, fairly lovely bungalow.
0:05:06 > 0:05:10The key to recognising a property's potential is to be able to see past
0:05:10 > 0:05:15any dated decor or before any house clearance has taken place.
0:05:15 > 0:05:18On first viewing, I'm looking more at the size of the rooms,
0:05:18 > 0:05:22how they may be better configured, and the size of the plot.
0:05:22 > 0:05:24And the potential to extend,
0:05:24 > 0:05:26which is usually the greatest way to add value.
0:05:31 > 0:05:34Well, at the side of the property, you've got a decent driveway,
0:05:34 > 0:05:37which could lead to a garage.
0:05:37 > 0:05:40But it doesn't. It leads to this cute little shed.
0:05:40 > 0:05:43Maybe building a garage would be a sensible thing to do.
0:05:43 > 0:05:46Somewhere to potter, stick your car, stick your rubbish, the usual thing.
0:05:46 > 0:05:49But at the back here, a really nice-sized garden.
0:05:49 > 0:05:51It's fairly mature, some nice trees and all that kind of stuff.
0:05:51 > 0:05:54It just adds to the property.
0:05:54 > 0:05:56Yeah, I'm not seeing anything I don't like.
0:05:57 > 0:05:59We called in a local estate agent
0:05:59 > 0:06:01to see if there's anything that they don't like.
0:06:02 > 0:06:05Local knowledge is usually the most crucial factor in
0:06:05 > 0:06:07determining a property's value.
0:06:09 > 0:06:13The village of Alsager is a small town, made up mainly of small,
0:06:13 > 0:06:16independent shops, but with some larger supermarkets.
0:06:16 > 0:06:20There are excellent road links, with the A500, the M6 and the A51.
0:06:21 > 0:06:27In addition, we're told this street of mainly bungalows is desirable in this area,
0:06:27 > 0:06:30buoying the sales market for retirees and downsizers.
0:06:30 > 0:06:32So, valuations!
0:06:34 > 0:06:40Once fully modernised, I'd be looking to mark it on the sales market for £145,000,
0:06:40 > 0:06:43and on the rental market, £600 per calendar month.
0:06:44 > 0:06:47Well, in general, I don't think you can go too far wrong with bungalows
0:06:47 > 0:06:50and this one is no exception.
0:06:50 > 0:06:55With that really attractive guide price, there's money to be made or a nice home to be bought.
0:06:55 > 0:06:58Let's see who agreed when it went under the hammer.
0:07:00 > 0:07:01Let's start with lot number two,
0:07:01 > 0:07:03lot number one has been sold prior.
0:07:03 > 0:07:06Lot number two. Can I say 80,000 to start?
0:07:07 > 0:07:1075, then. Can we get it going at 75?
0:07:10 > 0:07:1375 bid, took it there, thank you. At 75,000.
0:07:13 > 0:07:1680 bid. At £80,000.
0:07:16 > 0:07:18I'll go in twos if it helps. 82.
0:07:18 > 0:07:2082 it is. £82,000.
0:07:20 > 0:07:22£84,000.
0:07:22 > 0:07:26The first auction lot of the day takes a steady path upwards
0:07:26 > 0:07:28to where we rejoin the bidding at 106,000.
0:07:30 > 0:07:32106.
0:07:32 > 0:07:34Yeah. 106 and a half. 107.
0:07:35 > 0:07:37107 and a half. 108.
0:07:39 > 0:07:41108 and a half, yeah? 108 and a half.
0:07:41 > 0:07:42109.
0:07:43 > 0:07:45Another half?
0:07:45 > 0:07:46Yeah. 109 and a half.
0:07:46 > 0:07:47110.
0:07:50 > 0:07:52No? At 110 then, pointing at her now.
0:07:52 > 0:07:54£110,000.
0:07:54 > 0:07:56Another 500 anywhere else?
0:07:56 > 0:07:58If not, £110,000 once.
0:07:59 > 0:08:01£110,000 twice.
0:08:01 > 0:08:03Third and final time, 110,000,
0:08:04 > 0:08:06You bought it, madam. Well done.
0:08:06 > 0:08:11The successful bid came from Ann, at the auction with her husband, John.
0:08:12 > 0:08:14They've been on Homes Under The Hammer before,
0:08:14 > 0:08:18when they paid £81,000 for this three-bedroom semi in Crewe.
0:08:18 > 0:08:21John took me through their plans in August 2014.
0:08:23 > 0:08:25It's a complete works, isn't it?
0:08:25 > 0:08:27Erm, new windows right through,
0:08:27 > 0:08:28new kitchen, new bathroom,
0:08:28 > 0:08:30extend the bathroom into the little bedroom.
0:08:30 > 0:08:33It's the only way to do it, as far as I can see, pinch a foot.
0:08:33 > 0:08:36Electrics want doing. Er, a bit shot at, as you might say.
0:08:36 > 0:08:38Mmm.
0:08:38 > 0:08:40And hopefully, yeah, we'll get there.
0:08:42 > 0:08:45Five months later and John had completed a very smart renovation.
0:08:45 > 0:08:49And just as well, as John's son was so taken with the finished product,
0:08:49 > 0:08:51that he moved in himself.
0:08:53 > 0:08:58John and Ann met me back at their new £110,000 purchase.
0:08:59 > 0:09:01Ann, John, good to see you.
0:09:01 > 0:09:03Tell me why you wanted to buy this place.
0:09:03 > 0:09:05Well, basically, I've always wanted a bungalow.
0:09:05 > 0:09:07Oh, OK.
0:09:07 > 0:09:10Erm, I live in a ground-floor flat at the moment,
0:09:10 > 0:09:13in a nice area in Nantwich, in Cheshire,
0:09:13 > 0:09:16erm, but this came up and I thought, well, you know,
0:09:16 > 0:09:18have a go and see whether we can get it at the auction.
0:09:18 > 0:09:19Right.
0:09:19 > 0:09:21- So, that's the way it's gone. - That's it.- We were lucky.
0:09:21 > 0:09:24- Right. It's for you, then?- Well, it's for the both of us.
0:09:24 > 0:09:25- Yes.- Yeah, it's both of us.
0:09:25 > 0:09:28- Right.- If we can sell my flat, then that's fine, we'll move in.
0:09:28 > 0:09:30If I don't sell my flat, then we'll just see
0:09:30 > 0:09:32whether we get this one sold.
0:09:32 > 0:09:33- Right.- It's an if/or.
0:09:33 > 0:09:35You know, one way or the other.
0:09:35 > 0:09:37OK. So, John, what do you think about it?
0:09:38 > 0:09:40It's what it is.
0:09:40 > 0:09:42It wants doing up, that's why it's at auction.
0:09:42 > 0:09:46The old story. New bathroom, new kitchen, rewiring, plumbing, new windows.
0:09:46 > 0:09:51They're the old aluminium ones, which are not good for condensation.
0:09:51 > 0:09:52Take it from there.
0:09:52 > 0:09:55- Right. But your goal is to try and make it liveable.- Oh, yeah.
0:09:55 > 0:09:57A place that you're going to live in?
0:09:57 > 0:09:59- Yeah. Yeah, that's not a problem.- Right.
0:09:59 > 0:10:0220,000 budget, I should imagine.
0:10:02 > 0:10:03If it goes a bit over
0:10:03 > 0:10:05and it takes four or five months,
0:10:05 > 0:10:06it takes four or five months, so...
0:10:06 > 0:10:10A few issues, which are still confusing me quite a bit.
0:10:10 > 0:10:14The doorframes in the kitchen, or going into the kitchen,
0:10:14 > 0:10:16the paint's come off it, and then,
0:10:16 > 0:10:18- in this room here, the lounge... - There was a leak.
0:10:18 > 0:10:20- ..there was a leak.- There was a leak, apparently,
0:10:20 > 0:10:22but the estate agent told us.
0:10:22 > 0:10:25I don't know how long back, but, you know, take the linings out,
0:10:25 > 0:10:27get it replastered, no problem, as far as I can see.
0:10:27 > 0:10:32But it was very obviously a very specific leak in one place, because it doesn't spread to the floor.
0:10:32 > 0:10:34It was coming from within the roof,
0:10:34 > 0:10:38so, whether it's the old tank that's still up there, I don't know. I haven't been in the roof yet.
0:10:38 > 0:10:39Right.
0:10:39 > 0:10:43Erm, we might take a wall out. Again, depending on which way the joists are going.
0:10:43 > 0:10:44We'll investigate that.
0:10:44 > 0:10:47The estate agent said something about it hadn't been dried out properly
0:10:47 > 0:10:49and that's why it rotted the way it did.
0:10:49 > 0:10:53Oh, I see. So, there was a leak and then it wasn't dried out properly. So, bits were dried out. OK.
0:10:53 > 0:10:57- Yeah.- Yeah, but we'll sort it.
0:10:57 > 0:10:59I think it looks a bit worse than what it is.
0:10:59 > 0:11:02Aha! Flummoxed no more. All is explained.
0:11:02 > 0:11:04And with solid floors,
0:11:04 > 0:11:06there shouldn't be too much damage to deal with.
0:11:08 > 0:11:09Still, there's a lot to do,
0:11:09 > 0:11:12and despite allegedly being retired for ten years,
0:11:12 > 0:11:14John is going to be doing the work.
0:11:14 > 0:11:16But, then again, he is very qualified.
0:11:19 > 0:11:21Erm, I was a joiner many years ago.
0:11:21 > 0:11:22OK.
0:11:22 > 0:11:26Erm, a building inspector after that, for quite a number of years.
0:11:26 > 0:11:30Erm, so, yeah, I'll stick my hand to anything.
0:11:30 > 0:11:32Right. Literally hands-on stuff.
0:11:32 > 0:11:34Oh, God, yes. Yeah.
0:11:34 > 0:11:37Obviously not the wiring or the plastering or the plumbing,
0:11:37 > 0:11:41but anything that wants doing and joinery work and shifting
0:11:41 > 0:11:43and the skip filling up, well, I'll do it.
0:11:43 > 0:11:46Will you ever sort of slow down and take your foot off the gas?
0:11:46 > 0:11:49No, I'm a young 69. I've got lots of years in front of me yet.
0:11:49 > 0:11:52When I snuff it, is the time to sleep.
0:11:52 > 0:11:54Erm, I'll carry on as long as I can.
0:11:54 > 0:11:56- Good lad.- I just tell him not to kill himself doing it.
0:11:58 > 0:12:01So, then, after this one plans for more or what?
0:12:01 > 0:12:02Oh, yeah. Oh, yeah.
0:12:02 > 0:12:04I'd do another.
0:12:04 > 0:12:05Do you enjoy it?
0:12:05 > 0:12:08No, I'm not going to retire. No, for sure. No, no.
0:12:09 > 0:12:12So, in normal circumstances, it'd be buying them, doing them up
0:12:12 > 0:12:14and selling them on, or renting them out?
0:12:14 > 0:12:16- That was the plan, yeah. - That was the original plan.- Was it?
0:12:16 > 0:12:20- Yeah, that was the original plan, but, you know...- Seems to have gone a bit...
0:12:20 > 0:12:21We'll get there in the end, yeah.
0:12:21 > 0:12:25So, the original plan was to buy it, do it up and sell it on, and then Ann stepped in and said,
0:12:25 > 0:12:28- "Actually, hang on a minute..." - I want that, yes. Correct.
0:12:28 > 0:12:30So, yeah, it'll happen.
0:12:31 > 0:12:36John says it will happen and reckons on a four to five month timescale.
0:12:36 > 0:12:39That should give them plenty of time to sell their flat.
0:12:41 > 0:12:43But, with Ann being so keen on the bungalow,
0:12:43 > 0:12:47I wonder if laid-back John is going to feel under pressure.
0:12:50 > 0:12:53No, er, "Oh, it's got to be done, it's got to be done!", but we'll get there.
0:12:53 > 0:12:55And the budget? Quite a healthy budget, then.
0:12:55 > 0:12:58Say 20,000. Again, if that goes over, it goes over.
0:12:59 > 0:13:02Erm, I'm not bothered. It's a case of "it's for us", so,
0:13:02 > 0:13:04that's the final thing. It's for us.
0:13:05 > 0:13:07Well, listen, congratulations.
0:13:07 > 0:13:08- Thank you.- Thank you. - Good luck with it.
0:13:08 > 0:13:10We look forward to seeing how you get on.
0:13:10 > 0:13:12- Thanks.- Thanks a lot.- Cheers.
0:13:13 > 0:13:16Well, a few things slightly up in the air on this one,
0:13:16 > 0:13:21but one thing for sure, Ann wants it, and if John can make it happen, he will.
0:13:21 > 0:13:24You can find out what does happen later in the show.
0:13:27 > 0:13:29MUSIC: All Around The World by Lisa Stansfield
0:13:29 > 0:13:35Rochdale was the birthplace of the first modern cooperative in 1844.
0:13:35 > 0:13:39In more recent times, the Lancashire market town has produced
0:13:39 > 0:13:41a string of world-famous entertainers,
0:13:41 > 0:13:44such as Gracie Fields and this lady, Lisa Stansfield.
0:13:46 > 0:13:47# Been around the world
0:13:47 > 0:13:49# And I-I-I
0:13:49 > 0:13:50# I can't find my baby... #
0:13:52 > 0:13:54The neighbourhood I'm in is a mix of commercial
0:13:54 > 0:13:57and residential properties and that's pretty fitting,
0:13:57 > 0:14:01cos the lot I'm here to see is just that, and here it is.
0:14:01 > 0:14:03On the ground floor, there's a working barbershop.
0:14:03 > 0:14:06On the first floor, it's a one-bed flat.
0:14:06 > 0:14:12The whole unit has a guide price of in between £60,000 and £70,000.
0:14:12 > 0:14:13Let's start in the barber's.
0:14:18 > 0:14:20It's a lot of space in here.
0:14:20 > 0:14:21Nice and bright, as well.
0:14:21 > 0:14:25As you can see, mirrors everywhere, cos it is working at present.
0:14:25 > 0:14:28You've got a kitchen out the back, toilet as well.
0:14:28 > 0:14:29Now, if you were to take on this venture,
0:14:29 > 0:14:33you've got tenants already in place, which means income.
0:14:33 > 0:14:35Not a bad start. I'm quite happy.
0:14:37 > 0:14:38Judging by the busyness of the road,
0:14:38 > 0:14:41the shop should benefit from plenty of passing trade.
0:14:41 > 0:14:45But do they provide good-quality male grooming?
0:14:45 > 0:14:47There's only one way to find out.
0:14:52 > 0:14:55Could you just take a bit off the top and maybe a bit off the sides as well? Thank you.
0:14:58 > 0:15:00That's it, that's how you do it.
0:15:00 > 0:15:01That's it, perfect. Perfect.
0:15:11 > 0:15:13Phew. I'm not sure I can carry this off.
0:15:13 > 0:15:15MUSIC: Devil's Haircut by Beck
0:15:15 > 0:15:16# Got a devil's haircut
0:15:16 > 0:15:17# In my mind... #
0:15:19 > 0:15:21Well, that certainly made my hair curl.
0:15:21 > 0:15:23Thanks, pal.
0:15:23 > 0:15:24Moving swiftly on.
0:15:29 > 0:15:31OK, we're upstairs in the flat now.
0:15:31 > 0:15:33Just a small hallway here.
0:15:33 > 0:15:37To my right, we have a decent-sized kitchen for a one-bed flat.
0:15:37 > 0:15:40You'd have to take all that out and start again.
0:15:41 > 0:15:43Here you've got the bathroom.
0:15:43 > 0:15:46Lovely shade of green. It is quite tight in there but, you know,
0:15:46 > 0:15:48it's a one-bed flat so you're not expecting anything too big.
0:15:48 > 0:15:51That, as well, would have to come out and you'd have to start again
0:15:51 > 0:15:53in the bathroom, too.
0:15:53 > 0:15:57Through into this room here, which is the bedroom.
0:15:57 > 0:16:00It is quite small and you seem to have a skylight up there
0:16:00 > 0:16:04which hasn't been finished at all.
0:16:04 > 0:16:06That would need doing.
0:16:06 > 0:16:09Through into this room here,
0:16:09 > 0:16:10which is definitely the lounge.
0:16:10 > 0:16:12Summing up this flat.
0:16:12 > 0:16:14New kitchen, new bathroom.
0:16:14 > 0:16:15Just spruce it up a bit.
0:16:15 > 0:16:18Bit of elbow grease and I think you'd be there.
0:16:21 > 0:16:24And, to put a commercial perspective on things, who better to speak to
0:16:24 > 0:16:27than an expert from the auction house who sold the property?
0:16:29 > 0:16:32First impressions on the property, great little investment.
0:16:32 > 0:16:36You've got an income straight away from the tenant on the ground floor.
0:16:36 > 0:16:38It's a hairdressers, they're always popular
0:16:38 > 0:16:41and people always generally want them in the future.
0:16:41 > 0:16:43So, even if it becomes vacant,
0:16:43 > 0:16:46probably it wouldn't be that difficult to find another tenant.
0:16:46 > 0:16:49Erm, the flat is separate, separate access.
0:16:49 > 0:16:52So, again, it would suit a first-time occupier,
0:16:52 > 0:16:54somebody looking to move out of the family home.
0:16:54 > 0:16:57Probably lives local, maybe works in Rochdale.
0:16:57 > 0:17:00So, there will always be a good demand for something like this.
0:17:02 > 0:17:05And how much does he estimate the new owner will have to spend
0:17:05 > 0:17:08to get this place back up to scratch?
0:17:08 > 0:17:10To get the place up to scratch,
0:17:10 > 0:17:12£1,500, £2,000.
0:17:12 > 0:17:14Er, general redecoration.
0:17:14 > 0:17:16Probably new floor coverings.
0:17:16 > 0:17:18The kitchen, bit tired.
0:17:18 > 0:17:22Perhaps new doors on the cupboards, new worktops,
0:17:22 > 0:17:24but otherwise, not a great deal.
0:17:25 > 0:17:28Would there be any benefit in selling the shop and flat separately?
0:17:29 > 0:17:32There's no demand at all for these properties individually,
0:17:32 > 0:17:35the flat or the shop separately.
0:17:35 > 0:17:37They would always be sold as one unit,
0:17:37 > 0:17:41so, we'd expect this to sell for between £80,000 and £90,000.
0:17:42 > 0:17:46This is potentially a great little investment in a good location,
0:17:46 > 0:17:49and whoever buys it, they've got that business downstairs,
0:17:49 > 0:17:50so money's coming in straight the way.
0:17:50 > 0:17:54There's not an awful lot that needs doing in there, so I think it would be money well spent.
0:17:54 > 0:17:57Let's see who wanted it when it went under the hammer.
0:17:58 > 0:18:01Traditionally constructed, end-of-terrace property
0:18:01 > 0:18:05providing self-contained ground-floor retail commercial unit,
0:18:05 > 0:18:07with a first-floor, self-contained flat,
0:18:07 > 0:18:10accessed from the rear.
0:18:10 > 0:18:11Nice and easy, 65.
0:18:12 > 0:18:1560, then. See a bid at 60,000?
0:18:15 > 0:18:18Anybody here straight in at 60?
0:18:18 > 0:18:2160 I'm bid. At 60 I'm bid, then.
0:18:21 > 0:18:22In fives. At £60,000.
0:18:23 > 0:18:24Five anywhere?
0:18:24 > 0:18:26If not, I'll take two.
0:18:26 > 0:18:27At £60,000, then.
0:18:27 > 0:18:2962.
0:18:29 > 0:18:3064...
0:18:30 > 0:18:32Once the bidding got started,
0:18:32 > 0:18:34the price rose steadily.
0:18:34 > 0:18:38We rejoin the auction with the price at £85,000.
0:18:38 > 0:18:40At £85,000.
0:18:40 > 0:18:41On my right on the aisle.
0:18:41 > 0:18:43Here to sell, don't lose it.
0:18:43 > 0:18:44First-time.
0:18:44 > 0:18:46Second time at £85,000.
0:18:46 > 0:18:48New bidder, 86.
0:18:48 > 0:18:4987. 88.
0:18:51 > 0:18:5289.
0:18:52 > 0:18:5490?
0:18:54 > 0:18:5689, here. Been with me all the way.
0:18:56 > 0:18:58At £89,000.
0:18:58 > 0:19:00With you, sir. Against you and against you.
0:19:00 > 0:19:03First-time. Second time all done.
0:19:03 > 0:19:05£89,000...
0:19:05 > 0:19:07selling...
0:19:07 > 0:19:08Well done, sir. 692.
0:19:13 > 0:19:15The successful bidder was Faisal,
0:19:15 > 0:19:18a local property developer and landlord.
0:19:18 > 0:19:20Before he moved into this business,
0:19:20 > 0:19:23Faisal had another occupation and the song is a bit of a clue.
0:19:23 > 0:19:25MUSIC: In The Navy by Village People
0:19:25 > 0:19:26# In the navy
0:19:26 > 0:19:27# In the navy... #
0:19:27 > 0:19:30No, he wasn't in the Village People.
0:19:30 > 0:19:32All will be revealed back at the flat.
0:19:33 > 0:19:34Faisal, nice to meet you.
0:19:34 > 0:19:37- Nice to meet you.- Congratulations, sir.- Thank you very much.
0:19:37 > 0:19:39What attracted you to this property?
0:19:39 > 0:19:41It's the area, because I live locally
0:19:41 > 0:19:44and most of my properties are in this area.
0:19:44 > 0:19:47It's easy to have a look at them and easy for maintenance-wise as well.
0:19:47 > 0:19:50And then, I'm concentrating more on the commercial side,
0:19:50 > 0:19:52and this property was already rented,
0:19:52 > 0:19:54so it's extra income already coming.
0:19:54 > 0:19:57Tell us a bit about your background, before property.
0:19:57 > 0:19:59Er, before property, I was in the navy.
0:19:59 > 0:20:01I was Lieutenant Commander in the Pakistan Navy.
0:20:01 > 0:20:04I served on board ship 14 years,
0:20:04 > 0:20:09and after I have took premature retirement and came to UK in 1996.
0:20:09 > 0:20:12So, when I came to this country, I didn't have a job.
0:20:12 > 0:20:15So, one of my relatives, he was, erm, he kindly offered me.
0:20:15 > 0:20:18He said, "Oh, I do the property, so if you want to join in, you know,
0:20:18 > 0:20:21and then let's start this renting business."
0:20:21 > 0:20:22What're you going to do to the flat?
0:20:22 > 0:20:25Er, I'm going to do the kitchen, full reinstatement of the kitchen.
0:20:25 > 0:20:28- And we'll take the chimney breast out of the kitchen.- Yes.
0:20:28 > 0:20:30Just upstairs, not the downstairs.
0:20:30 > 0:20:32And, then I'm going to do the full bathroom new.
0:20:32 > 0:20:36Fully tile the bathroom, take out the bath and put a shower there.
0:20:36 > 0:20:38And then, basically,
0:20:38 > 0:20:40everything renovating in the bathroom and the kitchen.
0:20:40 > 0:20:43Talking of work, who's going to do the work for you?
0:20:43 > 0:20:47I've got a team of builders and I've been doing the property development
0:20:47 > 0:20:51almost for 18 years as well, so, I'm quite handyman myself as well.
0:20:51 > 0:20:53And, er, my team is really, really very good,
0:20:53 > 0:20:55so I think we all will chip in
0:20:55 > 0:20:58and hopefully get this property going very quick.
0:20:58 > 0:21:00What will you do yourself? What are you handy with?
0:21:00 > 0:21:03I do kitchens and I do bathrooms as well.
0:21:03 > 0:21:05Do you? You don't need anybody else!
0:21:05 > 0:21:08No, of course not. But, because of the number of properties, you know,
0:21:08 > 0:21:11it's very difficult to concentrate and spend more time on one place,
0:21:11 > 0:21:14and that's why I bring people in to help me out.
0:21:14 > 0:21:17OK. And downstairs, you'll just keep it as is? Let that run itself?
0:21:17 > 0:21:19Downstairs will stay as it is because it's on the, you know,
0:21:19 > 0:21:22self-repairing and insuring lease, so, we're OK with that.
0:21:22 > 0:21:24I think it's going to maintain that,
0:21:24 > 0:21:26and it's in good condition as well at the moment.
0:21:26 > 0:21:28So, it doesn't need spending anything downstairs.
0:21:32 > 0:21:35Faisal's wealth of experience means he's well equipped to deal with any
0:21:35 > 0:21:39problems this Rochdale property might throw at him.
0:21:39 > 0:21:41Well, almost anything.
0:21:41 > 0:21:43So, Faisal, have you got any concerns on the roof?
0:21:43 > 0:21:46- I see there's a few...- Yeah, there's a few missing tiles, so,
0:21:46 > 0:21:49first thing is, I'm going to get the roofer in and make sure that
0:21:49 > 0:21:52the tiles are sorted because the weather is...
0:21:52 > 0:21:53Rochdale is always raining, anyway.
0:21:53 > 0:21:56If there's nowhere else raining, it's raining in Rochdale.
0:21:56 > 0:21:59So, that's the priority for me to sort out.
0:21:59 > 0:22:04- Anywhere near Manchester it's always raining.- Always raining, yeah.
0:22:04 > 0:22:07'Now, I do want to rain on Faisal's parade,
0:22:07 > 0:22:10'but he paid 89 grand for this property,
0:22:10 > 0:22:13'which is pretty much the market value the estate agent estimated.'
0:22:17 > 0:22:19And were you happy with what you paid for the property?
0:22:19 > 0:22:21Erm, in fact, I think I've been very lucky,
0:22:21 > 0:22:23because when I went to the property I thought,
0:22:23 > 0:22:26"Oh, yeah, probably my limit was up to £100,000."
0:22:26 > 0:22:30And it came out to be about £89,000, so, I was really,
0:22:30 > 0:22:32really happy that I got it for that price.
0:22:32 > 0:22:34But I was ready to go up to £100,000 as well.
0:22:34 > 0:22:37- Ah, so you've got a little bit left in the budget, there?- Correct, yes.
0:22:37 > 0:22:41- And how much have you got to spend on this?- I think about £3,000-£4000.
0:22:41 > 0:22:45Especially because, my experience in property development,
0:22:45 > 0:22:49if you want to do a decent kitchen, it costs you around £2,000.
0:22:49 > 0:22:50And then roughly the same, you know,
0:22:50 > 0:22:53about £1,000-£1,500 on the bathroom as well.
0:22:53 > 0:22:56And then a little bit on the painting and decorating.
0:22:56 > 0:22:59So, I'm hoping, really, between £3,000 and £4,000.
0:22:59 > 0:23:01And how long will it take you to get this one turned around?
0:23:01 > 0:23:03Erm, I think, er, four weeks.
0:23:03 > 0:23:07That's the, you know, timescale I'm prepared to spend, you know,
0:23:07 > 0:23:08time-wise on this one.
0:23:08 > 0:23:12Because I think, after that, I'm holding back this flat
0:23:12 > 0:23:15for... For no reason.
0:23:15 > 0:23:18I could easily put a tenant in and just start getting the
0:23:18 > 0:23:20- income from, er, you know... straight away, then.- OK.
0:23:20 > 0:23:23So, what kind of money are you going to be getting back?
0:23:23 > 0:23:27Downstairs shop is already rented to the barber shop and is producing
0:23:27 > 0:23:32£500 income per calendar month, and I'm expecting £350 for the flat.
0:23:32 > 0:23:38So, hopefully, once it's tenanted the altogether income will be £850.
0:23:38 > 0:23:40Is that the kind of yield you were looking for?
0:23:40 > 0:23:42Yeah, I think it's roughly about 10%,
0:23:42 > 0:23:46which is really great in this industry, for the property industry.
0:23:46 > 0:23:48People are expecting, and when they're working,
0:23:48 > 0:23:50they're working almost for this yield,
0:23:50 > 0:23:54keeping in mind they'll get 10% return on their investment.
0:23:54 > 0:23:56Are these the kind of properties you look for?
0:23:56 > 0:23:58I had residential properties first,
0:23:58 > 0:24:01but I've moved on to commercial ones now.
0:24:01 > 0:24:04The reason is that commercial tenants are more stable.
0:24:04 > 0:24:06They're there for a longer time
0:24:06 > 0:24:08and they're not as much maintenance required, to be honest.
0:24:08 > 0:24:11- You've got it all wrapped up, pal. - It is, yes.- It's a doddle for you.
0:24:11 > 0:24:13- I wish you all the best. - Thank you very much.
0:24:13 > 0:24:16- Good luck, Faisal. - Thank you very much, thank you.
0:24:16 > 0:24:19With Faisal's experience, this project will be a doddle,
0:24:19 > 0:24:23and with his naval history, I'm sure he'll take command of the situation.
0:24:23 > 0:24:25But will he sink or swim?
0:24:25 > 0:24:27You can find out how he gets on later in the programme.
0:24:29 > 0:24:31Coming up, in Eccles, Kent,
0:24:31 > 0:24:34there are no short cuts when it comes to new-builds.
0:24:36 > 0:24:39Don't ignore the rules, as they're there for a reason.
0:24:40 > 0:24:42And in Rochdale, Lancashire,
0:24:42 > 0:24:46former naval officer Faisal has reluctantly got back in the water.
0:24:46 > 0:24:49Our work had been hampered majorly because of the rain.
0:24:53 > 0:24:57Remember this two-bedroom bungalow in Alsager, Cheshire?
0:24:57 > 0:24:59With a shed at the bottom of the drive,
0:24:59 > 0:25:03and a back garden that needed a bit of a clear-up.
0:25:03 > 0:25:07When I looked around it, I found some peculiar water damage.
0:25:08 > 0:25:10That's very odd.
0:25:10 > 0:25:13The bottom of the doorframe there has all rotted away
0:25:13 > 0:25:15and it looks like there's damp on that wall.
0:25:15 > 0:25:19Seems to be there's portions of the bungalow where there's a bit of a
0:25:19 > 0:25:22damp issue, and yet it doesn't smell damp, and the carpet's not
0:25:22 > 0:25:23particularly ruined and...
0:25:23 > 0:25:25HE SIGHS
0:25:25 > 0:25:26Hmmm.
0:25:26 > 0:25:30'Bathroom was bath-less, so, as a possible source of the problem,
0:25:30 > 0:25:31'it was off the hook.'
0:25:33 > 0:25:37'The property was bought by husband-and-wife team John and Ann
0:25:37 > 0:25:41'for £110,000, to initially do up and sell on.
0:25:41 > 0:25:45'But then Ann decided she'd like to keep it as their home,
0:25:45 > 0:25:48'and she knew who was going to cop for most of the work.'
0:25:50 > 0:25:52Erm, I was a joiner many years ago.
0:25:52 > 0:25:57Building inspector after that, for quite a number of years.
0:25:57 > 0:26:00- Literally, hands-on stuff. - Oh, God, yes. Yeah.
0:26:00 > 0:26:03Obviously, not the wiring or the plastering or the plumbing,
0:26:03 > 0:26:05but anything that wants doing,
0:26:05 > 0:26:09and joinery work, and shifting, and the skip filling up, I'll do it.
0:26:09 > 0:26:12Will you ever slow down and take you foot off the gas?
0:26:12 > 0:26:13No, I'm a young 69.
0:26:13 > 0:26:15I've got lots of years in front of me yet.
0:26:15 > 0:26:18When I snuff it, it's the time to sleep.
0:26:18 > 0:26:20Erm, I'll carry on as long as I can.
0:26:22 > 0:26:26The couple were expecting a four to five month work schedule.
0:26:26 > 0:26:30In reality, it turned into 13 months,
0:26:30 > 0:26:32but they did take a five-month break.
0:26:32 > 0:26:36They were able to sell their own flat remarkably quickly,
0:26:36 > 0:26:40so, they moved in before tackling the outside work.
0:26:40 > 0:26:44John retired ten years ago but, as a building inspector on site,
0:26:44 > 0:26:48he was used to being king of all he surveyed - quite literally.
0:26:48 > 0:26:50But, with this project,
0:26:50 > 0:26:56he's had to take into account the wishes of his Queen Ann.
0:26:56 > 0:27:04# And, oh, oh, oh, I was a king under your control
0:27:04 > 0:27:10# And oh, oh, oh, I want to feel like you've let me go
0:27:10 > 0:27:13# So let me go. #
0:27:15 > 0:27:19As you might expect from a former building inspector, everything,
0:27:19 > 0:27:23and I mean everything, has been done to the highest standards.
0:27:23 > 0:27:26Nowhere is this more evident than in the bathroom,
0:27:26 > 0:27:28which finally lives up to its name.
0:27:28 > 0:27:30It has a bath!
0:27:30 > 0:27:33And no worries about the water-damaged woodwork -
0:27:33 > 0:27:34that's all been replaced.
0:27:40 > 0:27:44MUSIC: King by Years and Years
0:27:50 > 0:27:53The colour scheme and finishing touches of soft furnishings
0:27:53 > 0:27:56have a very tasteful touch,
0:27:56 > 0:27:58and the all-new windows and light-fittings
0:27:58 > 0:28:00really brighten up the rooms.
0:28:00 > 0:28:05What was once tired and jaded has become modern and vibrant.
0:28:05 > 0:28:10John and his specialist trade people have definitely breathed new life
0:28:10 > 0:28:11into this bungalow.
0:28:11 > 0:28:15And, of course, all of it under Ann's discerning eye.
0:29:04 > 0:29:06Well, by the looks of it,
0:29:06 > 0:29:10King John and Queen Ann certainly make a good team.
0:29:10 > 0:29:16But there must have been differences of opinion along the way, I'm sure.
0:29:16 > 0:29:18I do like the new bay window, though.
0:29:18 > 0:29:20We've put a bay in.
0:29:20 > 0:29:22Ann wanted a bay rather than a flat window.
0:29:22 > 0:29:24I wasn't fussy,
0:29:24 > 0:29:26but I'm glad that she's got her own way because it does look nice.
0:29:26 > 0:29:27Well, it works.
0:29:27 > 0:29:30Was there anything else you gave way on, John?
0:29:30 > 0:29:31She's the boss,
0:29:31 > 0:29:35so I did as I was told and what she wanted went in.
0:29:35 > 0:29:37- Got in, in the end. - THEY LAUGH
0:29:37 > 0:29:40Didn't that make working together a little tense?
0:29:41 > 0:29:44Er, working together? Pass.
0:29:44 > 0:29:46I'm joking. Erm, we get on great.
0:29:46 > 0:29:48He'd start something and I'd say,
0:29:48 > 0:29:51"I think I've changed me mind on that one. I think we'll have something different."
0:29:51 > 0:29:55- As women do. But everything's been fine.- It's good.- No problems.- No.
0:29:55 > 0:29:57- We haven't fallen out at all.- No.
0:29:57 > 0:30:02I wish that was the case for all the refurbishments I see on the show.
0:30:02 > 0:30:06How about money? That can usually cause a tiff or two.
0:30:06 > 0:30:09How did the original £20,000 budget stand up?
0:30:10 > 0:30:12Price-wise, how much have we spent?
0:30:12 > 0:30:14Ooh, gosh...
0:30:14 > 0:30:16Er, roughly round about 28,000.
0:30:16 > 0:30:18We didn't expect to spend that much,
0:30:18 > 0:30:21but because we were going to live in it ourselves, it was a case, well,
0:30:21 > 0:30:23we'll do better stuff.
0:30:23 > 0:30:26We'll have nicer flooring and nicer doors and light-fittings
0:30:26 > 0:30:27and all the rest of it.
0:30:27 > 0:30:32And the kitchen was a little bit more higher spec than we probably would have put in.
0:30:32 > 0:30:36We've put in two local estate agents to get their views and valuations
0:30:36 > 0:30:38for the property.
0:30:38 > 0:30:40I think the main selling points of the property are the
0:30:40 > 0:30:43excellent finish to the renovation,
0:30:43 > 0:30:45particularly all-new double glazing,
0:30:45 > 0:30:48new central heating system and new electrics put in place.
0:30:48 > 0:30:51I like that the bedrooms are at the back of the property.
0:30:51 > 0:30:55I think it gives more privacy and I think it's quite a selling point
0:30:55 > 0:30:56for that reason.
0:30:56 > 0:30:58I also like the fact that the kitchen is on the front,
0:30:58 > 0:31:00because I think it is quite nice
0:31:00 > 0:31:02to have a little look out while you're washing the dishes.
0:31:02 > 0:31:07Although John and Ann show no signs of selling just yet,
0:31:07 > 0:31:10what would their property be worth now?
0:31:10 > 0:31:12They paid £110,000 at auction
0:31:12 > 0:31:16and spent a further £28,000 on refurbishment.
0:31:16 > 0:31:20So, any value above 138,000 would be good news.
0:31:20 > 0:31:22On the current sales market,
0:31:22 > 0:31:28I would value this property at £155,000-£160,000.
0:31:28 > 0:31:29In the current sales market,
0:31:29 > 0:31:36this property could achieve in the region of £175,000-£180,000.
0:31:36 > 0:31:40Crikey! That could potentially mean a pre-tax profit of anywhere between
0:31:40 > 0:31:46£17,000 and a stonking £42,000.
0:31:46 > 0:31:48What do they think of that?
0:31:48 > 0:31:50I'm really surprised.
0:31:50 > 0:31:53Never thought, for one minute, it would reach those figures.
0:31:53 > 0:31:56Whichever one, the lower or the higher, is great.
0:31:56 > 0:32:00That's fine, because we were looking at it for a living here,
0:32:00 > 0:32:02possibly for the rest of our lives,
0:32:02 > 0:32:03but we'll wait and see on that.
0:32:03 > 0:32:06Possibility. We'll wait and see. See what fate takes us!
0:32:06 > 0:32:09Well, I'm betting fate takes you back down to the auction once again.
0:32:09 > 0:32:12Just as soon as John gets bored.
0:32:19 > 0:32:22I'm in the county known as the Garden of England - Kent.
0:32:22 > 0:32:26Home to hops, oast houses and the village of Eccles -
0:32:26 > 0:32:29not to be confused with it's northern namesake,
0:32:29 > 0:32:30where the cakes come from.
0:32:30 > 0:32:34Eccles is a short hop from Maidstone, and there's easy access
0:32:34 > 0:32:36to the motorways nearby.
0:32:38 > 0:32:41And if you want to be close to open green spaces, well,
0:32:41 > 0:32:43this is a great street,
0:32:43 > 0:32:46because you're surrounded by fields and parks.
0:32:46 > 0:32:49Just look at the view over there - it's lovely.
0:32:49 > 0:32:51Now, this is a sought-after road to live on,
0:32:51 > 0:32:56but the guide price for the auction lot I'm here to see was 90-95,000.
0:32:56 > 0:32:59Sounds intriguingly cheap for this area.
0:33:03 > 0:33:06Shall we take a look and see what you actually get for your money?
0:33:06 > 0:33:07Dun-dun-duh!
0:33:07 > 0:33:09Couple of sheds, ha-ha!
0:33:09 > 0:33:11A really glamorous one, as well, at the end here.
0:33:11 > 0:33:12It's like a little gingerbread house.
0:33:12 > 0:33:15But, no, that's a joke because that's not with you get.
0:33:15 > 0:33:18Come into the garden and, erm... Voila!
0:33:18 > 0:33:20It is a plot of land.
0:33:20 > 0:33:24It comes with planning permission to build a semidetached house
0:33:24 > 0:33:26on the end of this one here.
0:33:26 > 0:33:29So, it's going to have three stories and four bedrooms.
0:33:29 > 0:33:33My guess is the people that used to live next door
0:33:33 > 0:33:36have sold their garden off to create this wonderful plot.
0:33:36 > 0:33:37Fantastic.
0:33:39 > 0:33:40I said semidetached,
0:33:40 > 0:33:43but I suppose it's actually going to be an end-terrace,
0:33:43 > 0:33:47and the former end-terrace will become a mid-terrace.
0:33:47 > 0:33:50It seems more than likely that the owners must have weighed up any loss
0:33:50 > 0:33:54in value in the house against the money made from selling the plot.
0:33:58 > 0:34:00However, if certain guidelines are met,
0:34:00 > 0:34:04you can retain the existing external wall as a separation
0:34:04 > 0:34:07between the old and the new house.
0:34:07 > 0:34:09If you do go down this route,
0:34:09 > 0:34:12then the foundations will have to be exposed and checked
0:34:12 > 0:34:14to ensure they're suitable for an increased load.
0:34:14 > 0:34:17The wall will have to be checked to ensure it complies
0:34:17 > 0:34:21with building regs and can sustain movement without cracking,
0:34:21 > 0:34:24and has an effective damp-proof course.
0:34:24 > 0:34:27A party-wall agreement with the neighbouring property
0:34:27 > 0:34:29will also need to be made.
0:34:29 > 0:34:33The route you decide to take will be dictated by building regulations
0:34:33 > 0:34:36and the condition of materials you're working with.
0:34:36 > 0:34:39Don't ignore the rules, as they're there for a reason.
0:34:39 > 0:34:42The granted planning permission is for a similar house
0:34:42 > 0:34:44to what will become next-door -
0:34:44 > 0:34:47a top-floor master bedroom in the roof space,
0:34:47 > 0:34:49and three bedrooms on the first floor.
0:34:51 > 0:34:56Building works will undoubtedly mean disruption and noise.
0:34:56 > 0:34:57My advice?
0:34:57 > 0:34:58Keep the neighbours informed
0:34:58 > 0:35:00and listen to any concerns they might have.
0:35:00 > 0:35:03It should make everyone's life more pleasant.
0:35:09 > 0:35:12We called in a local estate agent to get some valuations
0:35:12 > 0:35:16for the completed project, and to find out more about the area.
0:35:18 > 0:35:20I think this street is a very desirable street.
0:35:20 > 0:35:23There's a park opposite for the children and it's a good place
0:35:23 > 0:35:25for families to raise their kids.
0:35:25 > 0:35:28What are the thoughts on the quality of the plot?
0:35:28 > 0:35:29I think this is a great building plot.
0:35:29 > 0:35:32It's flat and I think the house should be easy to construct,
0:35:32 > 0:35:36there's no clearance required, so it should be a fairly easy project.
0:35:36 > 0:35:39Would you change anything about the plans?
0:35:39 > 0:35:40Having studied the plans,
0:35:40 > 0:35:42I don't think I would make any changes at all.
0:35:42 > 0:35:47The only thing I may do is consider adding a conservatory at some point
0:35:47 > 0:35:50in the future, just to create that little bit of extra space.
0:35:50 > 0:35:53This is a relatively small village, so,
0:35:53 > 0:35:56will there be a demand for such a large house?
0:35:56 > 0:36:00I think there is a good demand for four-bedroom houses in this location
0:36:00 > 0:36:03and I hope that they finish it to a good standard and it should be quite
0:36:03 > 0:36:04easy to sell.
0:36:04 > 0:36:08What sort of potential market is there for the property around here?
0:36:08 > 0:36:11When this house is actually built, I feel that, freehold,
0:36:11 > 0:36:16it will sell for £285,000 at today's values.
0:36:16 > 0:36:19And, as far as rental is concerned, approximately £1,500 a month.
0:36:21 > 0:36:23From a shed to a whole new house,
0:36:23 > 0:36:25this is an auction lot with more potential
0:36:25 > 0:36:27than it seemed at first glance.
0:36:27 > 0:36:29Yes, I'm sure there will be challenges along the way,
0:36:29 > 0:36:33but buy this in this popular spot, and you're off to a good start.
0:36:33 > 0:36:36Who agreed? Let's head to auction and find out.
0:36:37 > 0:36:38130 now,
0:36:38 > 0:36:42and this is land with planning for an attached four-bedroom house.
0:36:42 > 0:36:46Very good area for resales, it's freehold and vacant possession.
0:36:46 > 0:36:50Where are you going to start me? Can I see £90,000 to start me?
0:36:50 > 0:36:54£90,000, can I say give me 85, start me where you will?
0:36:54 > 0:36:5685,000 have got.
0:36:56 > 0:36:5887 bid I have.
0:36:58 > 0:37:01Put it up to 90. At 90, and two.
0:37:01 > 0:37:0292, 92 can I see?
0:37:02 > 0:37:0494, 96?
0:37:04 > 0:37:0696, 98?
0:37:06 > 0:37:0898? Going up to 100.
0:37:08 > 0:37:09And two. 102.
0:37:09 > 0:37:11And four? And six?
0:37:11 > 0:37:13And eight?
0:37:13 > 0:37:14In the packed sales room,
0:37:14 > 0:37:19bids climb rapidly to where we rejoin at 114,000.
0:37:19 > 0:37:22At 114. 116?
0:37:22 > 0:37:24116, 118, 118?
0:37:24 > 0:37:27No? At 116, back to you, madam.
0:37:27 > 0:37:29116,000 for the first time.
0:37:29 > 0:37:32116,000 for the second time.
0:37:32 > 0:37:36Third and final time, at 16,000, stuck with it, yours,
0:37:36 > 0:37:39well done and the number is M260.
0:37:39 > 0:37:42Right from the first to the last bid,
0:37:42 > 0:37:44it was a success for Sue and Graham.
0:37:46 > 0:37:49Now, I won't ask if they've done their homework on this purchase,
0:37:49 > 0:37:52because not only does their daughter live down the road,
0:37:52 > 0:37:57Sue and Graham, and their puppy Gus, currently live right next door.
0:37:57 > 0:37:59# Walking the dog
0:37:59 > 0:38:02# You are walking the dog
0:38:02 > 0:38:06# Walking the dog, just walking the dog. #
0:38:06 > 0:38:08When the couple were viewing the plot,
0:38:08 > 0:38:10they discovered the house was for rent from the owner,
0:38:10 > 0:38:13so they're here until the build is finished.
0:38:13 > 0:38:15How perfect is that?
0:38:15 > 0:38:17The house! Not the puppy.
0:38:17 > 0:38:20Although the puppy is just so perfect, too.
0:38:22 > 0:38:24I met Sue to talk through with the plans.
0:38:24 > 0:38:25Sue, congratulations.
0:38:25 > 0:38:27- Thank you.- Well done.
0:38:27 > 0:38:32Now, this is just... Well, it's such a lovely garden, really, isn't it?
0:38:32 > 0:38:35- Yes.- So, tell me the story. Who found it, why do you want it?
0:38:35 > 0:38:37- I found it.- Yeah.
0:38:37 > 0:38:38My husband was going to auction,
0:38:38 > 0:38:42so I found loads of properties for him to look at that were potential
0:38:42 > 0:38:49and he didn't, you know, just didn't ever buy anything.
0:38:49 > 0:38:51Mostly because they went for too much.
0:38:51 > 0:38:54Because I gave him a limit for each property, so I said,
0:38:54 > 0:38:58don't spend more than that on that and they all went over the limits,
0:38:58 > 0:39:02and then this was the first auction I'd been to, property auction,
0:39:02 > 0:39:07and I'd seen this plot and put a budget of 120,
0:39:07 > 0:39:10because I knew how much property was worth round here,
0:39:10 > 0:39:14knew what we were building. So, yeah.
0:39:14 > 0:39:17So, were you looking specifically for a plot of land
0:39:17 > 0:39:19- to build something for you to live in?- No. No.
0:39:19 > 0:39:23- So, this just happened to come up and it ticked a lot of boxes?- Yes.
0:39:23 > 0:39:27We were looking really for renovation properties,
0:39:27 > 0:39:30but this came up and it just seemed ideal.
0:39:30 > 0:39:32So, I know this plot comes with planning permission to build.
0:39:32 > 0:39:35Are you going to tweak the plans or leave them exactly as they are?
0:39:35 > 0:39:39Yeah, we're hoping to build an extension as well,
0:39:39 > 0:39:43because currently, the planning only covers to the side of the house
0:39:43 > 0:39:47- without the 2.5 metre extension.- OK.
0:39:47 > 0:39:52So we've submitted plans for that and, providing we get that,
0:39:52 > 0:39:54that will make a huge difference.
0:39:54 > 0:39:58If we don't, then we'll probably build a conservatory.
0:40:00 > 0:40:04Sue's hoping to incorporate a ground floor extension within the size
0:40:04 > 0:40:07that would normally be permitted development.
0:40:07 > 0:40:11This will include bifold doors into the garden.
0:40:11 > 0:40:15The neighbours have already extended in this way, so signs are hopeful.
0:40:18 > 0:40:20This isn't their first project.
0:40:20 > 0:40:22They've already renovated a house they inherited.
0:40:22 > 0:40:26But this is their first foray into new builds.
0:40:26 > 0:40:30Sue's been lucky to find a builder who'll give them an all-in price.
0:40:30 > 0:40:32He is going to do everything for you?
0:40:32 > 0:40:34You've got a price, it's within budget.
0:40:34 > 0:40:37Come on, share the information, how much is it going to cost you?
0:40:37 > 0:40:40It's going to cost us 128,000.
0:40:40 > 0:40:41- Exactly?- Well...
0:40:41 > 0:40:44- And that's to do everything? - That's to do everything.- Yeah.
0:40:44 > 0:40:48That's to tile, carpet, flooring, bathrooms, the whole works.
0:40:48 > 0:40:53Obviously, you know, and the bifold doors, and if anything changes,
0:40:53 > 0:40:56then we've got contingency for it.
0:40:56 > 0:40:59But, I'm not thinking that we'll change very much.
0:40:59 > 0:41:01Just be careful of those extras.
0:41:01 > 0:41:04It's all those extras, you see, that they can add on that end up,
0:41:04 > 0:41:06you know, amounting to quite a lot.
0:41:06 > 0:41:09It's great that you've encompassed an all-in price with this.
0:41:09 > 0:41:12How long do you think it's going to take to build?
0:41:12 > 0:41:15- The builder says six to eight months.- Right.
0:41:15 > 0:41:17And you've got your budget, your timescale,
0:41:17 > 0:41:20so is there anything that's worrying you about this?
0:41:20 > 0:41:22No, not especially.
0:41:22 > 0:41:25It's quite rare to actually buy a plot of land that's going to be
0:41:25 > 0:41:27- attached to another house. - Yes, yeah.
0:41:27 > 0:41:31Any stipulations, have there been any problems so far with what you've bought?
0:41:31 > 0:41:33With what's happened?
0:41:33 > 0:41:36The only stipulation was that we had to have parking for two cars
0:41:36 > 0:41:38somewhere on the plots.
0:41:38 > 0:41:41So, we're planning to put the parking out front,
0:41:41 > 0:41:43which none of the other houses on the road have,
0:41:43 > 0:41:45but I don't really understand why.
0:41:45 > 0:41:50And the other one is they did say that we couldn't build anything else
0:41:50 > 0:41:52- on this plot of land.- Mm-hm.
0:41:52 > 0:41:57So the other bit with the extension, might be a slight problem.
0:41:57 > 0:42:00Now, I know you got another little addition at the moment that's going
0:42:00 > 0:42:02to be very involved.
0:42:02 > 0:42:04Tell me about that gorgeous dog of yours!
0:42:04 > 0:42:08Well, we lost our dog a year or so ago
0:42:08 > 0:42:11and we've taken a long time to get over it
0:42:11 > 0:42:16and we just got here and felt so settled, that my husband said,
0:42:16 > 0:42:19"I think it's time we got another dog."
0:42:19 > 0:42:22So, I looked online and found a little Jack-A-Poo,
0:42:22 > 0:42:24so he's a Jack Russell crossed with a toy poodle.
0:42:24 > 0:42:27- So that's where the fluffiness comes from, the poodle?- Yes.
0:42:27 > 0:42:29- He's absolutely gorgeous.- Yes.
0:42:29 > 0:42:32And are you thinking that this is going to be a long-term home for you
0:42:32 > 0:42:35- to stay here for a long time? - No.- No?- No.
0:42:35 > 0:42:38We'll stay here until the build's finished,
0:42:38 > 0:42:42and maybe a month or so after that, and then we'll find somewhere else.
0:42:42 > 0:42:44- This isn't a home for you to live in?- No.
0:42:44 > 0:42:46This is the development project?
0:42:46 > 0:42:49Sue, what role are you going to play whilst the project is going on?
0:42:49 > 0:42:51I'm just go to sit and watch.
0:42:51 > 0:42:54In the garden, in the sun!
0:42:54 > 0:42:56- Hopefully.- With the doggie? - With the dog, yes.
0:42:56 > 0:42:58- Really?- Absolutely, yes. Definitely.
0:42:58 > 0:43:01Sue, it's been lovely meeting you today.
0:43:01 > 0:43:02I cannot wait to see the end result.
0:43:02 > 0:43:05Good look with the project and good luck with the puppy.
0:43:05 > 0:43:07- Thank you!- Thank you, lovely to meet you.
0:43:07 > 0:43:08OK, and you.
0:43:10 > 0:43:12So, it's the first new-build project for a Sue,
0:43:12 > 0:43:16but at least she's living right next door to keep her eye on the build.
0:43:16 > 0:43:20But that's if she can tear herself away from her new little puppy.
0:43:20 > 0:43:24Join me later in the programme to see if it all works well,
0:43:24 > 0:43:26or if it turns out to be a right dog's dinner.
0:43:29 > 0:43:32We've seen how our first buyer got on, but what about the other two?
0:43:32 > 0:43:36Yeah, were they laughing all the way to the bank, or are they crying into their cornflakes?
0:43:36 > 0:43:39Eloquently put, Lucy, you've been reading the thesaurus again.
0:43:39 > 0:43:41Let's find out how they got on.
0:43:45 > 0:43:48Time now to head back up the M62 to Rochdale, Lancashire.
0:43:52 > 0:43:55The property I visited was this barbershop,
0:43:55 > 0:43:58and an upstairs one-bed flat with separate access.
0:43:59 > 0:44:03With the shop already leased to a tenant for £500 per calendar month,
0:44:03 > 0:44:06there was ready income for any new buyer.
0:44:08 > 0:44:12Now, it's well-known that us media types can't resist an opportunity
0:44:12 > 0:44:15of a free makeover, but when this chap got going,
0:44:15 > 0:44:18it was a hair-raising experience.
0:44:18 > 0:44:22It did remind me of a short spell I had playing football for...Barnet.
0:44:22 > 0:44:23GROANS
0:44:23 > 0:44:25I'm here all week, folks!
0:44:25 > 0:44:26No.
0:44:28 > 0:44:31Upstairs, the flat was in reasonable condition,
0:44:31 > 0:44:34but a new kitchen and bathroom but wouldn't go amiss,
0:44:34 > 0:44:37and a general redecoration would finish the job nicely.
0:44:37 > 0:44:42It was local property developer Faisal who paid £89,000
0:44:42 > 0:44:46for this potentially lucrative buy-to-let opportunity.
0:44:46 > 0:44:51My limit was up to £100,000 and it came out to be £89,000,
0:44:51 > 0:44:53so I was really, really happy that I got it for that price.
0:44:53 > 0:44:56A former officer in the Pakistan Navy,
0:44:56 > 0:45:00Faisal swapped his sea legs for a sturdy pair of stepladders
0:45:00 > 0:45:03and has built up some handy DIY skills since starting out
0:45:03 > 0:45:05in the property world 18 years ago.
0:45:06 > 0:45:07What are you handy with?
0:45:07 > 0:45:09I do kitchens and I do bathrooms as well.
0:45:09 > 0:45:12You don't need anybody else!
0:45:12 > 0:45:16In this flat, those kind of skills were exactly what was required.
0:45:16 > 0:45:20Faisal was keen to get this property turned around quickly and so set
0:45:20 > 0:45:26himself a timescale of four weeks with a maximum budget of £4,000.
0:45:26 > 0:45:27Eight weeks later,
0:45:27 > 0:45:30we're back to finding out how he's been getting on.
0:45:40 > 0:45:43Aside from a spot of snagging here and there,
0:45:43 > 0:45:45this flat looks ready to move into.
0:45:45 > 0:45:48But what does Faisal think of the end result?
0:45:48 > 0:45:49I think overall,
0:45:49 > 0:45:52I like the outlook of the kitchen and the bathroom.
0:45:52 > 0:45:55You know, they just look amazing.
0:45:55 > 0:45:57The work has been done to a good standard.
0:45:57 > 0:45:59A major refurbishment has been done in the kitchen,
0:45:59 > 0:46:03which means new kitchen units, new sink, new worktops
0:46:03 > 0:46:07and the new tiles have been put in which nicely blend in
0:46:07 > 0:46:10with the paint we've done, which is the magnolia.
0:46:10 > 0:46:13And then the rest of the work in the bathroom, where we had a bath,
0:46:13 > 0:46:15that has been removed now
0:46:15 > 0:46:18and we have put a shower there, fully tiled,
0:46:18 > 0:46:21new sink and new toilet set has been done there as well.
0:46:24 > 0:46:26In the living room and bedroom,
0:46:26 > 0:46:28it was a straightforward decorating job,
0:46:28 > 0:46:31although new carpets have been added throughout.
0:46:31 > 0:46:34Faisal even got to exercise his DIY muscles.
0:46:35 > 0:46:38Most of the work has been done by my builders,
0:46:38 > 0:46:42apart from the kitchen units and the worktop which I've done myself.
0:46:43 > 0:46:47Nice job, pal, but don't forget it you still have to box in those
0:46:47 > 0:46:48central heating pipes.
0:46:50 > 0:46:52Although the heating, plumbing and electrics looked to be in good
0:46:52 > 0:46:56condition, Faisal wasn't prepared to take any chances.
0:46:56 > 0:47:00No work has been done on the heating and plumbing apart from checking it
0:47:00 > 0:47:03so that it's safe for the tenant when they come in.
0:47:04 > 0:47:07Safety first is definitely the only way to go when dealing
0:47:07 > 0:47:09with gas and electrics.
0:47:09 > 0:47:15# You'd better be nice, better think twice, better be careful. #
0:47:15 > 0:47:17Always leave a little aside in your budget
0:47:17 > 0:47:21for any expert inspections your property might require.
0:47:21 > 0:47:24For peace of mind, it's worth paying that little bit extra.
0:47:24 > 0:47:28On that subject, how did Faisal get on with his budget of £4,000?
0:47:31 > 0:47:33We've been very lucky because I've done the work myself as well,
0:47:33 > 0:47:36like, in the kitchen units and the worktop, I've done them myself.
0:47:36 > 0:47:40So, at the end it cost us £2,650.
0:47:42 > 0:47:46That's a massive £1,350 under budget.
0:47:46 > 0:47:50And did he manage to complete the job within the four-week timescale?
0:47:50 > 0:47:53Work has been hampered outside, majorly, because of the rain and,
0:47:53 > 0:47:56because of that, we had two weeks delay in the project.
0:47:56 > 0:47:59Apart from that, everything just went on schedule as we planned.
0:47:59 > 0:48:04# Why does it always rain on me? #
0:48:04 > 0:48:07Losing those two weeks meant that removing the chimney breast
0:48:07 > 0:48:10in the kitchen slipped off Faisal's to-do list,
0:48:10 > 0:48:13although the builder did manage to fix those loose slates.
0:48:14 > 0:48:17Faisal's very happy with how the flat's turned out.
0:48:17 > 0:48:20And, no matter how much rain falls in Rochdale,
0:48:20 > 0:48:22nothing will dampen his spirits.
0:48:26 > 0:48:29We've asked two local property experts
0:48:29 > 0:48:31to have a look at the work he's done
0:48:31 > 0:48:34and give us some valuations based on the local property market.
0:48:34 > 0:48:36It's my first time inside the property.
0:48:36 > 0:48:39The update to the kitchen and the bathroom, clearly money well spent,
0:48:39 > 0:48:42as well as the redecoration work and the new carpets.
0:48:42 > 0:48:46The standard of the finish is done to a very, very good standard,
0:48:46 > 0:48:48and as soon as it does come on the rental market,
0:48:48 > 0:48:51I know for a fact it will fly out.
0:48:53 > 0:48:55So it shouldn't be difficult to let it.
0:48:55 > 0:48:56On the sales market,
0:48:56 > 0:48:59the agents believe the flat and the shop, sold together,
0:48:59 > 0:49:04could fetch between £95,000 and £105,000.
0:49:04 > 0:49:08At the high-end, that would give Faisal a pre-tax profit of £13,500,
0:49:09 > 0:49:13against his roughly £91,500 spent.
0:49:13 > 0:49:16What would the flat achieve on the rental market?
0:49:18 > 0:49:21I would value this particular flat, in today's market,
0:49:21 > 0:49:24at £360 per calendar month.
0:49:24 > 0:49:27I would expect it to achieve a rental income
0:49:27 > 0:49:31of approximately £375-£400 per calendar month.
0:49:32 > 0:49:37With the downstairs shop earning a rental of £500 per calendar month,
0:49:37 > 0:49:40and an additional monthly rent from the flat
0:49:40 > 0:49:43possibly as high as £400 per calendar month,
0:49:43 > 0:49:47could bring Faisal a total monthly income of £900,
0:49:47 > 0:49:49and that's a yield of 12%.
0:49:49 > 0:49:52I've got, already, somebody who's interested in the property,
0:49:52 > 0:49:56and he offered me 325, which I've accepted.
0:49:56 > 0:50:00So, I think I will stay with them because we've already agreed.
0:50:01 > 0:50:05Settling for that lower income still means that Faisal is earning
0:50:05 > 0:50:08a return on investment of 11%.
0:50:08 > 0:50:11He's shown that a little bit of DIY knowledge can save money
0:50:11 > 0:50:13and add value.
0:50:13 > 0:50:16Does he have any tips for wannabe developers?
0:50:17 > 0:50:21I would definitely say to people who want to do the property development,
0:50:21 > 0:50:24that they should do it but, before doing that,
0:50:24 > 0:50:26they should have some sort of on-hand experience -
0:50:26 > 0:50:31joining, a builder, or just go to college or any institution
0:50:31 > 0:50:35which can provide a few tips and training to these guys.
0:50:35 > 0:50:36And it will be definitely worth it,
0:50:36 > 0:50:38but you have to have a little bit of experience before,
0:50:38 > 0:50:40if you want to do DIY yourself.
0:50:46 > 0:50:49Back to Kent, and the small village of Eccles where,
0:50:49 > 0:50:52previously in the show, I looked around a side and back garden,
0:50:52 > 0:50:55bought at auction of £116,000.
0:50:57 > 0:51:00Shall we take a look and see what you actually get for your money?
0:51:00 > 0:51:01Dun-dun-duh!
0:51:01 > 0:51:03Couple of sheds! Ha-ha!
0:51:03 > 0:51:05A really glamorous one, as well, at the end, here.
0:51:05 > 0:51:10Come into the garden and... Voila - it's a plot of land.
0:51:10 > 0:51:12It comes with planning permission
0:51:12 > 0:51:15to build a semidetached house on the end of this one, here.
0:51:16 > 0:51:19So, it's going to have three stories and four bedrooms.
0:51:19 > 0:51:24My guess is the people that used to live next door have sold their
0:51:24 > 0:51:27garden off to create this wonderful plot.
0:51:27 > 0:51:31The new owners of the plot were husband and wife Graham and Sue.
0:51:31 > 0:51:34Their aim - to do the new build and sell on,
0:51:34 > 0:51:40budgeting £128,000 for the work over a 6-8 month time period.
0:51:40 > 0:51:44So, you want to build an exact replica of what's next door,
0:51:44 > 0:51:47and you also want to try and build an extension of the back of the house,
0:51:47 > 0:51:49like all the others along have.
0:51:49 > 0:51:51- Yeah.- Do you think you may have any problems with that?
0:51:51 > 0:51:53Possibly. I don't really know.
0:51:53 > 0:51:56The architect's working on it at the moment and he's,
0:51:56 > 0:51:58he's on holiday this week,
0:51:58 > 0:52:00but he's hoping to submit the plans next week.
0:52:00 > 0:52:03So, were you looking specifically for a plot of land
0:52:03 > 0:52:05- to build something for you to live in?- No.
0:52:05 > 0:52:09- So this just happened to come up and it ticked a lot of the boxes?- Yeah.
0:52:09 > 0:52:13We were looking, really, for renovation properties,
0:52:13 > 0:52:16but this came up and it just seemed ideal.
0:52:17 > 0:52:19Altering plans that have already been passed
0:52:19 > 0:52:23can be a very time-consuming exercise.
0:52:23 > 0:52:26Permitted development rules on extensions only apply to existing
0:52:26 > 0:52:30structures, and Sue and Graham were planning a new build.
0:52:30 > 0:52:33This also meant their plans would be open to objections
0:52:33 > 0:52:35from members of the public.
0:52:36 > 0:52:41We're back, nine months later, to see what happened.
0:52:41 > 0:52:45# Carry me home when this is over
0:52:45 > 0:52:50# Carry me home into the sun
0:52:50 > 0:52:52# Through all the highs
0:52:52 > 0:52:54# And all the hard times
0:52:54 > 0:52:57# When we are grey and old
0:52:57 > 0:53:00# Will you carry me home? #
0:53:02 > 0:53:06Well, it's nearly finished, and they got permission for the extension,
0:53:06 > 0:53:09although the planning process had delayed things.
0:53:11 > 0:53:14Sue got her bifolds and the lounge extension looks to have
0:53:14 > 0:53:15doubled the space.
0:53:17 > 0:53:19Where there was once a gable end wall,
0:53:19 > 0:53:23there's now an entrance hall and kitchen with all the mod cons.
0:53:26 > 0:53:28# One day, baby, we can have it all. #
0:53:28 > 0:53:33You could, Gary, including your own state-of-the-art wok burner,
0:53:33 > 0:53:36state-of-the-art sink and kitchen units.
0:53:40 > 0:53:41# You could carry me...
0:53:41 > 0:53:45# Carry me home, when this is over... #
0:53:46 > 0:53:50Let's carry on upstairs, to the second floor to be precise,
0:53:50 > 0:53:54which comprises of an en-suite with roof windows to give a bright,
0:53:54 > 0:53:56airy feel to the master bedroom.
0:53:59 > 0:54:02From here, you get a good view of the remaining back garden,
0:54:02 > 0:54:04here, on the left.
0:54:05 > 0:54:08Down on the first floor there's the family bathroom,
0:54:08 > 0:54:11which is fitted out with good-quality tiles and units.
0:54:11 > 0:54:14# When we are grey and old
0:54:14 > 0:54:17# Will you carry me home? #
0:54:21 > 0:54:24It's on this floor where you'll find the three further bedrooms,
0:54:24 > 0:54:26all of a reasonable size.
0:54:34 > 0:54:37And, finally, on the ground floor, by the front lobby,
0:54:37 > 0:54:41is a downstairs toilet which has a central heating boiler installed.
0:54:43 > 0:54:46From an end of terrace garden to a new abode,
0:54:46 > 0:54:49has anything else changed in the past nine months?
0:54:50 > 0:54:53We've now decided that we're going to move in.
0:54:53 > 0:54:56We like the area and it's very convenient and...
0:54:56 > 0:55:02Yes. So we're hoping to move in in about three or four weeks.
0:55:02 > 0:55:06What do you think Jack-A-Poo Gus will make of it all?
0:55:06 > 0:55:08He's got a lot bigger than we thought he was going to get,
0:55:08 > 0:55:10and changed colour.
0:55:10 > 0:55:14But he's absolutely adorable and I think he'll love it,
0:55:14 > 0:55:16absolutely love it here,
0:55:16 > 0:55:19cos he's got so much more space to run around.
0:55:19 > 0:55:23Apart from objections to the plans, were there other delays?
0:55:23 > 0:55:27The plan we put in was wrong, so then we had to submit another plan.
0:55:27 > 0:55:30Then we had put a larger window in the dormer than was in the original
0:55:30 > 0:55:33plan, so we had to submit a plan for that.
0:55:33 > 0:55:37And that probably extended all of that by about two to three months.
0:55:38 > 0:55:43Currently, there's no water connected and the parking spaces are to be completed,
0:55:43 > 0:55:47but has anything turned out better than expected?
0:55:47 > 0:55:49My favourite part is the family bathroom.
0:55:49 > 0:55:51I absolutely adore it.
0:55:51 > 0:55:52I'm so pleased with it.
0:55:53 > 0:55:58The tiles are lovely and the bath's a nice shape and, yeah,
0:55:59 > 0:56:00I'm really pleased with that.
0:56:00 > 0:56:05I bet you can't wait to get the water on, Sue, to try it out.
0:56:05 > 0:56:06Sue thinks that, on completion,
0:56:06 > 0:56:10they'll have spent £10,000 over their original budget,
0:56:10 > 0:56:13taking the build cost to £138,000.
0:56:16 > 0:56:19We called in two local estate agents,
0:56:19 > 0:56:23to see if the project has been financially worth it.
0:56:23 > 0:56:26The addition of the extension on the ground floor, I think,
0:56:26 > 0:56:28is very necessary,
0:56:28 > 0:56:31because it's quite a big house but most of the accommodation,
0:56:31 > 0:56:33of course, is on the first and second floor so,
0:56:33 > 0:56:36in order to create more of a family-type home,
0:56:36 > 0:56:40it did need a little bit more room on the ground floor.
0:56:40 > 0:56:43I'm very impressed with what has happened to this property.
0:56:43 > 0:56:47White emulsion walls are very in keeping with the current trend.
0:56:47 > 0:56:52The kitchen is very well fitted to a very high standard.
0:56:52 > 0:56:55Yes, certainly very impressed, overall, that there's, really,
0:56:55 > 0:56:57nothing I don't like, at all.
0:56:57 > 0:57:00I think it's got top marks from me.
0:57:00 > 0:57:02Sue and Graham have decided to move in,
0:57:02 > 0:57:05but what potential profit might they have realised?
0:57:05 > 0:57:08They paid £116,000 at auction for the plot
0:57:08 > 0:57:12and £138,000 in build costs -
0:57:12 > 0:57:16a total of £254,000.
0:57:16 > 0:57:19If this property was put on the market now,
0:57:19 > 0:57:23I would say they should achieve a figure in the region of £320,000.
0:57:23 > 0:57:27I believe this property could sell for around about £325,000.
0:57:28 > 0:57:30I'm quite impressed with that.
0:57:30 > 0:57:34325 would be really, really good.
0:57:34 > 0:57:37320, yeah, I'd be really happy with that.
0:57:37 > 0:57:40Who wouldn't be happy with a £71,000 gain,
0:57:40 > 0:57:43minus the usual taxes and expenses,
0:57:43 > 0:57:45in just nine months?
0:57:45 > 0:57:46Is it something you'd repeat, Sue?
0:57:48 > 0:57:51I think if you'd asked us six months ago, we would have both said no,
0:57:51 > 0:57:53we wouldn't do it again.
0:57:53 > 0:57:58But I think, now, especially with the values that we've had
0:57:58 > 0:58:01from the estate agents, I think, yes, we would do it again.
0:58:04 > 0:58:07Behind every auction property there is a story to tell.
0:58:07 > 0:58:09Yes, and it's generally a fascinating one.
0:58:09 > 0:58:12And, what's more, we'll have plenty more for you next time.
0:58:12 > 0:58:14Yeah, so join us again on Homes Under The Hammer.
0:58:14 > 0:58:16- We'll see you then. - Goodbye.- Bye-bye.- Goodbye.