0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:06Bricks and mortar can be the best investment out there,
0:00:06 > 0:00:07- but only if you get it right.- Mm-hm.
0:00:07 > 0:00:10Yeah, and if you're looking for good value and choice,
0:00:10 > 0:00:13then, in my opinion, you should head down to your local property auction.
0:00:13 > 0:00:16Yes. Make sure you know what you're getting into
0:00:16 > 0:00:18when you buy your home under the hammer.
0:00:44 > 0:00:47Now, I've said it before, I know, but I'm going to say it again -
0:00:47 > 0:00:49- do your research. - Yes, well said, Lucy.- Thank you.
0:00:49 > 0:00:53- But did today's buyers follow our advice?- Let's find out.
0:00:54 > 0:00:56I'm judging if this layout is right
0:00:56 > 0:00:59in Newcastle-under-Lyme, Staffordshire.
0:00:59 > 0:01:03Do I particularly like it? Um...jury's out.
0:01:04 > 0:01:07Someone has placed the utilities against better judgment
0:01:07 > 0:01:09in Bullbridge, Derbyshire.
0:01:09 > 0:01:11Put right at the back there is the gas meter.
0:01:11 > 0:01:13Can't see the gasman being very happy.
0:01:14 > 0:01:18And I'm passing judgment on this Wolverhampton property.
0:01:18 > 0:01:20It's a thumbs up from me.
0:01:20 > 0:01:24Big back garden, decent-sized house. I like it.
0:01:26 > 0:01:28All these properties were bought at auction.
0:01:28 > 0:01:30We'll find out who got them and how much they paid
0:01:30 > 0:01:34- when they went under the hammer. - Your lot, madam. Well done.
0:01:37 > 0:01:42198 miles south of Newcastle upon Tyne
0:01:42 > 0:01:46lies its almost namesake Newcastle-under-Lyme.
0:01:46 > 0:01:48The Lyme refers to a forest of lime trees
0:01:48 > 0:01:51which covered the area in medieval times.
0:01:51 > 0:01:53This more southerly Newcastle
0:01:53 > 0:01:56lies in the potteries of North Staffordshire.
0:01:59 > 0:02:01Well, about a mile from the town centre
0:02:01 > 0:02:05is a property I'm here to see, and it is a mid-terrace.
0:02:05 > 0:02:08Three bedrooms. Guide price - 50,000 quid.
0:02:09 > 0:02:12Like the bricks on the outside. Let's have a look inside.
0:02:13 > 0:02:17Oh, OK. Erm, straight off the street into the front lounge.
0:02:17 > 0:02:21Pretty much the standard layout of these kind of houses,
0:02:21 > 0:02:24so I'm not expecting anything too dramatic.
0:02:24 > 0:02:26Looking for basic things,
0:02:26 > 0:02:28therefore we're looking for general state of the decor,
0:02:28 > 0:02:30we're looking for signs of damp, you know,
0:02:30 > 0:02:32and any major structural problems,
0:02:32 > 0:02:35which, to be fair, are less likely in a terrace
0:02:35 > 0:02:39than other kinds of properties. But anyway, room looks OK.
0:02:39 > 0:02:42Looks like it's been relatively recently painted.
0:02:42 > 0:02:46Doesn't smell damp. And then through to the middle room,
0:02:46 > 0:02:49which is actually the sort of kitchen area.
0:02:49 > 0:02:52Again, it's not in bad condition.
0:02:52 > 0:02:54At a push, you could leave it as it is,
0:02:54 > 0:02:55but I think, spend a bit of money here
0:02:55 > 0:02:57and you'd really tart the place up.
0:02:57 > 0:02:59And then, as is very common with these kind of properties,
0:02:59 > 0:03:01through into this little rear area
0:03:01 > 0:03:05where you've got the addition of a nice little utility area.
0:03:05 > 0:03:07Relatively old boiler, so you'd definitely want
0:03:07 > 0:03:10to have that serviced or at least checked out.
0:03:10 > 0:03:15Like the tile flooring. A few signs of damp here and there.
0:03:15 > 0:03:19Apart from that, you know, it is pretty much what I expected.
0:03:19 > 0:03:23Including the ubiquitous downstairs bathroom,
0:03:23 > 0:03:25which, if you were renting out the place,
0:03:25 > 0:03:27would be quite adequate.
0:03:27 > 0:03:31And you do get a good through view from the bath.
0:03:31 > 0:03:33Well, upstairs, and all is not
0:03:33 > 0:03:37what it might have originally appeared to be.
0:03:37 > 0:03:38I'll explain why in a second.
0:03:38 > 0:03:41You've got the front bedroom here, which is at least a reasonable size.
0:03:41 > 0:03:43Got a few signs of damp here and there.
0:03:43 > 0:03:46Then you come into this bit of the property
0:03:46 > 0:03:50and you've got the second bedroom here, which is...
0:03:50 > 0:03:52Well, it's not bad. It's a single, I guess.
0:03:52 > 0:03:54And then this kind of wheedely thing going round
0:03:54 > 0:03:57to the rear of the property where you've got your third bedroom.
0:03:57 > 0:04:01Now, my guess is that, at some stage,
0:04:01 > 0:04:04the stairs have been moved from their previous position,
0:04:04 > 0:04:06which, traditionally in these houses,
0:04:06 > 0:04:10is across like that, and then moved to the side
0:04:10 > 0:04:13to create basically the layout we see here.
0:04:13 > 0:04:15Maybe, in the past, there was three bedrooms,
0:04:15 > 0:04:17but you accessed one through another one.
0:04:17 > 0:04:20I can tell that because A, this is a very heavy wall,
0:04:20 > 0:04:22and downstairs, there isn't a corresponding wall.
0:04:22 > 0:04:25In fact, there's something called an RSJ - a steel girder -
0:04:25 > 0:04:27in the ceiling. So, at some stage,
0:04:27 > 0:04:29somebody's done some kind of a conversion.
0:04:29 > 0:04:32What it does create is three bedrooms.
0:04:32 > 0:04:34Do I particularly like it?
0:04:34 > 0:04:36Um...jury's out.
0:04:37 > 0:04:39Ladies and gentlemen of the jury,
0:04:39 > 0:04:44I present to you exhibit A, a narrow corridor.
0:04:44 > 0:04:47There is no doubt this compromises the width of bedroom two,
0:04:47 > 0:04:51whilst leading to another diminutive bedroom three.
0:04:52 > 0:04:55Will your verdict be the same as the former owner
0:04:55 > 0:04:57who created this arrangement?
0:04:57 > 0:05:00# Oh, that's the way Uh-huh, uh-huh
0:05:00 > 0:05:03# I like it Uh-huh, uh-huh
0:05:03 > 0:05:05# That's the way Uh-huh, uh-huh
0:05:05 > 0:05:08# I like it Uh-huh, uh-huh... #
0:05:08 > 0:05:11So, out the back of the property, a smallish sort of garden.
0:05:11 > 0:05:13Obviously needs a bit of tender loving care.
0:05:13 > 0:05:17I was hoping that there might be some kind of rear access,
0:05:17 > 0:05:19as there often is in these kind of terraced houses,
0:05:19 > 0:05:20but unfortunately not.
0:05:20 > 0:05:24But what you have got is a reasonable amenity space.
0:05:24 > 0:05:26Looks like there's a shed or something that's been taken down
0:05:26 > 0:05:29that was attached to the property. And from the back here, again,
0:05:29 > 0:05:31it looks to be in pretty reasonable nick,
0:05:31 > 0:05:34so nothing to worry me here.
0:05:34 > 0:05:36No worries for me
0:05:36 > 0:05:39about this property, guided at £48,000 to £52,000.
0:05:39 > 0:05:41But what does a local estate agent
0:05:41 > 0:05:44think it might be worth once renovated?
0:05:44 > 0:05:45Depending on the spec,
0:05:45 > 0:05:49the value could be somewhere in the region of about £115,000.
0:05:49 > 0:05:53So, no surprises with this one. Just a good, solid little house.
0:05:53 > 0:05:56Let's see who spotted the investment,
0:05:56 > 0:05:59or the potential to create this into a lovely family home,
0:05:59 > 0:06:01when it went under the hammer.
0:06:02 > 0:06:06Lot 52 is Newcastle-under-Lyme in Staffordshire.
0:06:06 > 0:06:08Going to say 50 to start.
0:06:08 > 0:06:10Three-bedroom. Thank you, madam. 50,000.
0:06:10 > 0:06:14Seated right at £50,000. 51, can I see now?
0:06:14 > 0:06:16At 50... 51.
0:06:16 > 0:06:17With the guide price passed,
0:06:17 > 0:06:20the bids take us up to the £60,000 mark,
0:06:20 > 0:06:22where we rejoin proceedings.
0:06:22 > 0:06:2860? 60. 61. 62. 63. 64.
0:06:28 > 0:06:3465. 66. 67. 68.
0:06:34 > 0:06:39No? At 68, then. Lady's bid at £68,000. 69 anywhere else?
0:06:40 > 0:06:4469 left. 70. 71.
0:06:44 > 0:06:48No? 71, lady in pink. At £71,000.
0:06:48 > 0:06:5072 anywhere else?
0:06:50 > 0:06:54Yeah? 72? 72. 73.
0:06:54 > 0:06:57- Yes.- 74. 75.
0:06:57 > 0:06:59Sure?
0:06:59 > 0:07:0475, then. To my left at £75,000. 76 anywhere else?
0:07:04 > 0:07:11If not, £75,000 for the first time. £75,000 for the second time.
0:07:11 > 0:07:14Third and final time at £75,000.
0:07:15 > 0:07:17Your lot, madam. Well done.
0:07:17 > 0:07:20The successful bid came from Tory and David.
0:07:20 > 0:07:23Tory used to be a nurse and David used to teach,
0:07:23 > 0:07:26but they gave it all up to become part-time gardeners.
0:07:26 > 0:07:30We met them at their £75,000 acquisition.
0:07:30 > 0:07:34- Tory, David, good to meet you both. - Hello.- And you, Martin. Hi.
0:07:34 > 0:07:38Congratulations. Tell me why you wanted to buy this little place.
0:07:38 > 0:07:41Um, yeah, it's an investment for us.
0:07:41 > 0:07:45- So, we sold a canal boat... - Oh, right.- ..relatively recently,
0:07:45 > 0:07:47and we're living with Tory's mother.
0:07:47 > 0:07:51So, our plan is to make this purchase,
0:07:51 > 0:07:54to have it rented out and then, six months down the line,
0:07:54 > 0:07:56we will draw that money away
0:07:56 > 0:08:02and use it to build a granny flat on Tory's mother's house, but for us.
0:08:02 > 0:08:03She's going to stay in the house.
0:08:03 > 0:08:06You've sold your canal boat? What, were you living on that, then?
0:08:06 > 0:08:09Yes, we lived there when I became a student nurse
0:08:09 > 0:08:13and David was a student teacher several years back.
0:08:13 > 0:08:15So, as a cheaper way of living,
0:08:15 > 0:08:18we moved back up to where I'm from in Yorkshire
0:08:18 > 0:08:21- and got the canal boat. - So, what prompted the move?
0:08:21 > 0:08:23Cos I could imagine that's a way of life
0:08:23 > 0:08:24- you could just carry on with.- Yeah.
0:08:24 > 0:08:29It forces you to slow down and relax.
0:08:29 > 0:08:31It was a chance for us to move
0:08:31 > 0:08:36and a time when Tory's mum was able to help us
0:08:36 > 0:08:37and we could all go in together,
0:08:37 > 0:08:40so it's worked out really, really well for us.
0:08:40 > 0:08:42Oh, wow. What a fascinating back story there.
0:08:42 > 0:08:45Anyway, it allowed you to buy this little place here.
0:08:45 > 0:08:48Well, we have friends in the area - very good friends in the area.
0:08:48 > 0:08:52I did a year at the uni here, too, some many years ago,
0:08:52 > 0:08:56so we are slightly familiar with this area.
0:08:56 > 0:08:58But we figured that we'd need to spend
0:08:58 > 0:09:02probably 25% more on a property where we are in Lancashire
0:09:02 > 0:09:04- to achieve the same rental return. - Right.
0:09:04 > 0:09:08Whereas Newcastle represents great value, we think,
0:09:08 > 0:09:10- and we love it here, so...- Yeah.
0:09:10 > 0:09:13- So, why not? We've gone for it. - We're just thinking of a nest egg
0:09:13 > 0:09:16- for the future.- Yeah. - Keep it long-term.
0:09:16 > 0:09:19And we now work self-employed as gardeners...
0:09:19 > 0:09:23- Oh, OK.- ..so our incomes are slightly reduced.- Slightly changed.
0:09:23 > 0:09:25We're doing little bits of mountaineering,
0:09:25 > 0:09:26outdoor work, gardening,
0:09:26 > 0:09:30and then hopefully this will sort of add to the pot as well, so...
0:09:30 > 0:09:32I know it might not deliver a lot of money,
0:09:32 > 0:09:35but I'm sure there are people listening who are very rich,
0:09:35 > 0:09:36thinking, "You know what?
0:09:36 > 0:09:39"Being a gardener and doing a bit of mountaineering -
0:09:39 > 0:09:43- "that sounds like a really nice life choice."- Yeah, yeah.
0:09:43 > 0:09:47Money's, you know, not really been a focus of what we've wanted.
0:09:47 > 0:09:52It's just enough to get by to do what we need to do.
0:09:52 > 0:09:55So, it's nice to know that every penny we both earn,
0:09:55 > 0:09:59we do so outside. It's quite nice outside in all sorts of weathers.
0:09:59 > 0:10:01- MARTIN LAUGHS - I'm sure, on a freezing cold
0:10:01 > 0:10:04- February morning, it's... - THEY LAUGH
0:10:04 > 0:10:07..not quite so brilliant, but not to worry.
0:10:07 > 0:10:09So, why this particular house, then?
0:10:09 > 0:10:13- Was it just the price or the location or what?- I think both.
0:10:13 > 0:10:16We'd been looking, or David had certainly been looking,
0:10:16 > 0:10:18for properties for maybe up to a year,
0:10:18 > 0:10:22and we had a certain amount from the canal boat,
0:10:22 > 0:10:25and everything seemed to be going over our budget.
0:10:25 > 0:10:28And this was going up at auction so we thought,
0:10:28 > 0:10:32"We'll try something different, try something new."
0:10:32 > 0:10:35And we had a set budget and the location is good -
0:10:35 > 0:10:38close to the hospital and there's a school nearby.
0:10:38 > 0:10:40And a lot of our friends and local people
0:10:40 > 0:10:43have said it's a really nice area.
0:10:43 > 0:10:46And I think, with the three bedrooms, as well, here...
0:10:46 > 0:10:50We only wanted a minimum of two, really,
0:10:50 > 0:10:52so to get the third bedroom was advantageous
0:10:52 > 0:10:55and it fell into budget.
0:10:55 > 0:10:58Tory resents seeing the property before going to auction,
0:10:58 > 0:11:02- so it was just me to go down. - You trusted him?
0:11:02 > 0:11:05- Yes. - THEY LAUGH
0:11:05 > 0:11:07But we went to the auction together
0:11:07 > 0:11:10and we only had the keys a couple of hours before you've arrived.
0:11:10 > 0:11:14Wow. Well, they may have only had the keys for two hours,
0:11:14 > 0:11:18but they already have a plan to put in a new kitchen and bathroom,
0:11:18 > 0:11:22re-skim and give the place a cosmetic overhaul.
0:11:22 > 0:11:24While that might be the plan...
0:11:24 > 0:11:27Just an hour ago, we were considering
0:11:27 > 0:11:29whether we went into the loft, but...
0:11:29 > 0:11:30The ideas are constantly changing.
0:11:30 > 0:11:32Yeah, ideas are changing all of the time,
0:11:32 > 0:11:34but I think we'll stick with the basics,
0:11:34 > 0:11:36try and turn it round as quickly as we can.
0:11:36 > 0:11:39Really good spruce up. And obviously, being gardeners,
0:11:39 > 0:11:41we'll have a good tackle at the garden,
0:11:41 > 0:11:44make that look really nice for any tenants coming in.
0:11:44 > 0:11:47- Fantastic. And then the idea is to rent it out?- Yes.
0:11:47 > 0:11:53- So, what's the budget for the work? - Budget for the work will be 11,500.
0:11:53 > 0:11:55- That's very precise.- Yes.
0:11:55 > 0:11:58- HE LAUGHS - Including the garden. 10,000.
0:11:58 > 0:12:02It's around just sort of £10,000 and one and a half for the garden.
0:12:02 > 0:12:03Yeah, I have a very good friend
0:12:03 > 0:12:06who came in the middle of the night last night who is a builder
0:12:06 > 0:12:08and who said, "David, like, this is what you need.
0:12:08 > 0:12:12- "This is what you need."- OK. - So, hopefully, we'll go with that.
0:12:12 > 0:12:14There's three and a half for contingency,
0:12:14 > 0:12:18so maximum overall is 15.
0:12:18 > 0:12:23- So, what's the timescale? - Hopefully, eight to ten weeks.- OK.
0:12:23 > 0:12:25If we can do it quicker, that would be wonderful.
0:12:27 > 0:12:31It might be their first development and their first auction purchase,
0:12:31 > 0:12:33but they are being very professional.
0:12:34 > 0:12:39Frightening! I think we both could almost hear our own hearts pounding.
0:12:39 > 0:12:43- Absolutely.- But I think I just sort of stepped forward and went,
0:12:43 > 0:12:45"Shall I do the bidding?"
0:12:45 > 0:12:47And I think, from my nursing experience,
0:12:47 > 0:12:51it teaches you a lot to be calm, even when you might be sort of...
0:12:51 > 0:12:53- Panicking a bit. Yeah, yeah. - ..paddling underneath.
0:12:53 > 0:12:56So, my heart was pounding, but I just was kind of...
0:12:56 > 0:12:59But it all happened and it was, yeah, very exciting.
0:12:59 > 0:13:03It was a great experience. I love looking back on it.
0:13:03 > 0:13:06But at the time, nerve-racking for a first event.
0:13:06 > 0:13:08- Very nerve-racking.- Yeah, for sure. - There's no doubt.
0:13:08 > 0:13:11Well, congratulations. Really lovely to meet you both.
0:13:11 > 0:13:14- I hope you have a fantastic time. - Thank you very much.- Cheers, Martin.
0:13:14 > 0:13:17- Yeah, look forward to seeing how you get on.- BOTH:- Thank you.
0:13:19 > 0:13:22So, Tory and David swapping a canal boat
0:13:22 > 0:13:25for a little terrace in Newcastle.
0:13:25 > 0:13:27Actually, I think they've chosen really well.
0:13:27 > 0:13:30And that is a very realistic budget they've set themselves.
0:13:30 > 0:13:32How will they get on sorting it out?
0:13:32 > 0:13:34Well, we certainly expect a marvellous garden
0:13:34 > 0:13:37when we come back later in the show.
0:13:42 > 0:13:45- LUCY:- And now to Derbyshire and the lovely village of Bullbridge.
0:13:46 > 0:13:51It's a mostly residential area, but has good road access to the M1.
0:13:53 > 0:13:55There are changes afoot for this village, too.
0:13:55 > 0:14:00Outline planning permission has been approved for 171 new units,
0:14:00 > 0:14:03building on the site of the old dye works.
0:14:03 > 0:14:05With a building programme like that,
0:14:05 > 0:14:08this village can be very bullish indeed.
0:14:10 > 0:14:13So, if you want to be close to your local country pub,
0:14:13 > 0:14:18this auction property could be ideal cos the pub is just there
0:14:18 > 0:14:22and the property is just here behind this lovely cobbled wall.
0:14:22 > 0:14:26Now, the property does need a little bit of cosmetic upgrading.
0:14:26 > 0:14:32It's got three bedrooms and it had a guide price of £135,000 plus.
0:14:33 > 0:14:35Although situated next to a busy road,
0:14:35 > 0:14:38the property is in a pleasant little close.
0:14:40 > 0:14:42So, inside the house, well, that's...
0:14:42 > 0:14:44that's quite a step up before you've got in,
0:14:44 > 0:14:48but once you're inside, I mean, this house is immaculate.
0:14:48 > 0:14:51It's in such good condition. And in here...
0:14:51 > 0:14:54- SHE CHUCKLES - Oh! Hmm.
0:14:54 > 0:14:55Now, this is a little bit awkward.
0:14:55 > 0:14:57In here is the loo, which is fantastic,
0:14:57 > 0:15:01but right at the back there is the gas and the electricity meter.
0:15:01 > 0:15:03Can't see the gasman being very happy
0:15:03 > 0:15:05having to sort of ram his face
0:15:05 > 0:15:07round the back end of the toilet to read the meter.
0:15:07 > 0:15:10Not ideal, is it? Anyway, moving on, we've got the lounge here.
0:15:10 > 0:15:14Fantastic new carpet in there. It's all been freshly painted.
0:15:14 > 0:15:18It's just got a very new feel to it, although it's not new.
0:15:18 > 0:15:21Clearly, you can see, it is very dated,
0:15:21 > 0:15:23but it's just clean as a whistle.
0:15:23 > 0:15:26Fantastic space. I mean, you could work with what's here,
0:15:26 > 0:15:28but I think if you did update this
0:15:28 > 0:15:31and put some nice, shiny, light-reflective units in,
0:15:31 > 0:15:32it would look fantastic.
0:15:32 > 0:15:34You've got a little conservatory out there.
0:15:34 > 0:15:36I mean, it really is a great room
0:15:36 > 0:15:39and it's so nice to walk in to a house on Homes Under The Hammer
0:15:39 > 0:15:43that's in such good condition and the heating's on.
0:15:43 > 0:15:44Yes! My luck is in.
0:15:47 > 0:15:49So, upstairs, we've got three bedrooms.
0:15:49 > 0:15:51A really nice-sized bedroom to the front of the property.
0:15:51 > 0:15:53A separate loo and bathroom here,
0:15:53 > 0:15:56which, again, it depends which side of the fence you sit on.
0:15:56 > 0:15:58Do you like the separate loo and the bathroom?
0:15:58 > 0:16:01Or you could knock them through and have a much bigger space.
0:16:01 > 0:16:05Something I have noticed everywhere is this textured wallpaper.
0:16:05 > 0:16:08It is giving this house a very dated feel.
0:16:08 > 0:16:10And to get rid of that, though, you need to rip it off
0:16:10 > 0:16:13and you could end up with lots of holes in the wall,
0:16:13 > 0:16:16and a re-plaster job could be quite pricey,
0:16:16 > 0:16:18although I do think that is the right thing to do.
0:16:18 > 0:16:20And then right at the back of the property,
0:16:20 > 0:16:23you've got a bedroom here, a very small bedroom there.
0:16:23 > 0:16:25I'd call that an office or a little nursery.
0:16:25 > 0:16:29But this is such a peaceful, sunny space.
0:16:29 > 0:16:31It's absolutely glorious in here.
0:16:31 > 0:16:34And there is one thing I would never tire of,
0:16:34 > 0:16:37and that's looking out at that spectacular view
0:16:37 > 0:16:38of the Derbyshire countryside.
0:16:38 > 0:16:40It really is magnificent.
0:16:40 > 0:16:44The same can't be said for the views from the conservatory.
0:16:44 > 0:16:47It looks straight out onto a tall wooden fence.
0:16:47 > 0:16:54# You've got a different, different, different point of view... #
0:16:56 > 0:16:59The front garden is mostly laid to lawn,
0:16:59 > 0:17:02but could benefit from a hedge behind the stone wall,
0:17:02 > 0:17:04which would help to reduce the road noise,
0:17:04 > 0:17:06but it's a good-sized plot.
0:17:09 > 0:17:10Well, it's funny, really,
0:17:10 > 0:17:13because this back garden is in stark contrast to the front.
0:17:13 > 0:17:16It's just literally paved over with concrete slabs
0:17:16 > 0:17:18and it's really small.
0:17:18 > 0:17:20I wasn't expecting it to be like this.
0:17:20 > 0:17:23But I suppose it is good that you are shielded
0:17:23 > 0:17:25with the fence from the main road.
0:17:25 > 0:17:27And there's something over here that is worrying me.
0:17:27 > 0:17:29You've got the back end of the garage.
0:17:29 > 0:17:30Now, if you look closely,
0:17:30 > 0:17:33you can see up there there's a big crack
0:17:33 > 0:17:36and there's some brick slips trying to cover it up.
0:17:36 > 0:17:39My guess is that's asbestos
0:17:39 > 0:17:42and I'd certainly be getting a contractor in
0:17:42 > 0:17:44to give me the best bit of advice.
0:17:46 > 0:17:50But at the moment, we'll settle for getting a local estate agent in
0:17:50 > 0:17:51to take a look around the property
0:17:51 > 0:17:53and give us some valuations.
0:17:55 > 0:17:58The main appeal of this property would be to the family buyer.
0:17:58 > 0:18:01Good location in terms of nice and quiet, lovely countryside,
0:18:01 > 0:18:03not too far from primary schools
0:18:03 > 0:18:06and secondary school education, and great for commuting.
0:18:08 > 0:18:12Once updated, what could the property sell for?
0:18:12 > 0:18:15When the renovation and refurbishment has been carried out,
0:18:15 > 0:18:17I think this property will sell for
0:18:17 > 0:18:21in the region of £165,000 to £170,000.
0:18:21 > 0:18:23As far as auction properties go,
0:18:23 > 0:18:25this house doesn't need too much work.
0:18:25 > 0:18:27Yes, it does need updating,
0:18:27 > 0:18:30but you could move in straightaway if need be.
0:18:30 > 0:18:33Let's see who was interested when this property went under the hammer.
0:18:33 > 0:18:35Lot 32.
0:18:35 > 0:18:40Where do you want to be with this? May I say 135 for it? 130,000?
0:18:40 > 0:18:44125 to put it into the bidding? Thank you. 125.
0:18:44 > 0:18:50125 is my opening bid. 126 is bid at the back. 126. 127?
0:18:50 > 0:18:56- 130.- 130. Thank you. 130,000. 131? 131?
0:18:56 > 0:18:58- 135.- 135.
0:18:58 > 0:19:03- From a low start, the property recovers to the guide price.- 136.
0:19:03 > 0:19:07We rejoin the bids at 141,000.
0:19:07 > 0:19:10141. 142? 42.
0:19:10 > 0:19:16143. 144. 145. 145.
0:19:16 > 0:19:19146? 146.
0:19:21 > 0:19:26- 147?- 150.- 150. Thank you. £150,000.
0:19:26 > 0:19:29151? Against you on the phone.
0:19:29 > 0:19:34£150,000 for the first time, for the second time.
0:19:34 > 0:19:36- Third chance. - GAVEL BANGS
0:19:36 > 0:19:38Sold at 150. Thank you.
0:19:38 > 0:19:42The top bid came from Bob at the auction with friend Nicky.
0:19:42 > 0:19:44And if he looks familiar,
0:19:44 > 0:19:47it's because he's been on the show twice before.
0:19:47 > 0:19:50The last time was when he bought this three-bedroom detached house
0:19:50 > 0:19:55in Codnor in Derbyshire in July 2013.
0:19:55 > 0:19:58Bob and his daughter Harriet formed the renovation team,
0:19:58 > 0:20:01and they seem to have an appetite for refurbishing.
0:20:02 > 0:20:04Possibly another one again after,
0:20:04 > 0:20:06depending what we do with this one, obviously.
0:20:06 > 0:20:09- And does that fit in with your...? - Yes, I think we'll keep doing them.
0:20:09 > 0:20:12As long as there's money around, we'll do another one.
0:20:12 > 0:20:14- THEY LAUGH - Well, they're back.
0:20:14 > 0:20:18It turns out he loves singing karaoke to Andy Williams tunes,
0:20:18 > 0:20:20so I think the pub across the road
0:20:20 > 0:20:23will be a definite Friday night destination.
0:20:23 > 0:20:26But I don't know if this crooning chiropodist
0:20:26 > 0:20:29will be good enough to get some clippings in the local paper.
0:20:30 > 0:20:34Bob and Harriet, congratulations. And you've come back for more
0:20:34 > 0:20:37because this isn't the first time of being on the show, is it?
0:20:37 > 0:20:39Well, it's the third time, but I said to the producer
0:20:39 > 0:20:42- I would only come back on again if Lucy came this time...- Yes!
0:20:42 > 0:20:45- ..cos we've had Martin twice. - Well, here I am. First time with me.
0:20:45 > 0:20:47- Congratulations, Bob.- Thank you. - Well done.
0:20:47 > 0:20:51So, now, what was the plan behind you wanting to buy this?
0:20:51 > 0:20:54Because, as I said, this isn't your first auction property.
0:20:54 > 0:20:55It isn't, no.
0:20:55 > 0:20:58The family house is quite big and we're rattling around in it,
0:20:58 > 0:21:01so we really need to find somewhere else to move in to
0:21:01 > 0:21:03while I do a bit of work on that house.
0:21:03 > 0:21:06I know that you lived in one of the other properties, didn't you?
0:21:06 > 0:21:08Yeah, the first one that we did up, I moved into.
0:21:08 > 0:21:11- Are you still there now? - Yeah, I'm still there now.
0:21:11 > 0:21:13- I'm very happy with it. - So, why this property?
0:21:13 > 0:21:15- I mean, does it tick the boxes for you?- Well, it does.
0:21:15 > 0:21:19It's in a nice position, nice village.
0:21:19 > 0:21:21It's in very good condition, as you can see.
0:21:21 > 0:21:23Doesn't need a great deal doing to it,
0:21:23 > 0:21:25apart from kitchen and bathroom.
0:21:25 > 0:21:28And there are no walls to knock down, there are no cracks,
0:21:28 > 0:21:30- there's no damp.- I know! - No rot.- Can I just tell you,
0:21:30 > 0:21:33it's so fantastic to come in to a house like this.
0:21:33 > 0:21:36It doesn't feel horrible. It feels really nice to be in.
0:21:36 > 0:21:38In fact, it's quite warm. It's a lovely, sunny day today.
0:21:38 > 0:21:41The heating works. THEY LAUGH
0:21:41 > 0:21:43- What about the fact that it's also quite on the road?- Yeah.
0:21:43 > 0:21:46Have you thought about doing some planting along the front wall?
0:21:46 > 0:21:48The road is a bit of an issue,
0:21:48 > 0:21:50although lots of houses in this country are close to the roads.
0:21:50 > 0:21:52But I think, with this house,
0:21:52 > 0:21:55most of the garden lies alongside the road,
0:21:55 > 0:21:59and as you know, you can't have a very high fence next to the road.
0:21:59 > 0:22:03So, what I'm planning to do is install an instant hedge
0:22:03 > 0:22:07with lots of planting just behind the wall,
0:22:07 > 0:22:08which will screen off the garden
0:22:08 > 0:22:13and enable me to take down the big, high fence outside the conservatory
0:22:13 > 0:22:15and get rid of the obscure windows in the conservatory.
0:22:15 > 0:22:17So, we'll gain a nice, private garden
0:22:17 > 0:22:19which can be seen from the road.
0:22:19 > 0:22:21It's quite an interesting toilet
0:22:21 > 0:22:24as you walk in the front door to the left there,
0:22:24 > 0:22:27with all the utilities behind it. So, what's that about?
0:22:27 > 0:22:30Well, I think that perhaps an elderly person lived here.
0:22:30 > 0:22:32It seems as if the toilet's been squeezed into there
0:22:32 > 0:22:34just to save somebody going upstairs.
0:22:34 > 0:22:38As you've seen, we have a separate toilet and bathroom upstairs
0:22:38 > 0:22:41and all the rooms downstairs lead into the hallway,
0:22:41 > 0:22:44so it's not as if you have to traipse through half the house
0:22:44 > 0:22:45and then wind up some stairs
0:22:45 > 0:22:48and go to the other side of the house to find the bathroom.
0:22:48 > 0:22:50So, I think we'll take that little toilet out
0:22:50 > 0:22:52and just have it as a cloakroom.
0:22:52 > 0:22:54It might be possible just to shift it to one side,
0:22:54 > 0:22:58but right in the middle where it is now, you can't get to anything.
0:22:58 > 0:23:00- Yeah, it's quite an unusual place. - Very unusual.
0:23:00 > 0:23:02- It looks like it's just been put there.- Yeah, yeah.
0:23:02 > 0:23:05And every time a light trips a fuse, then you can't get in there.
0:23:05 > 0:23:07You have to climb around the loo!
0:23:07 > 0:23:09- Yeah, that's not going to be much fun, is it?- No, not really.
0:23:09 > 0:23:12What sort of budget have you got to spend in the property?
0:23:12 > 0:23:15I think we'll be able to do it for around about 6,000 or 7,000,
0:23:15 > 0:23:20depending on the garage, which is a little bit higgledy-piggledy.
0:23:20 > 0:23:22You'll see on the back there, there's what looks to be
0:23:22 > 0:23:24a brick wall with a big crack down it
0:23:24 > 0:23:28and it's just brick fascia over asbestos,
0:23:28 > 0:23:31- so a lot of that needs to come down and get sorted out, so...- Yeah.
0:23:31 > 0:23:33Now, I know you're quite busy
0:23:33 > 0:23:35- with your chiropody work, as well, aren't you?- Yes.
0:23:35 > 0:23:37How are you going to combine the two?
0:23:37 > 0:23:38Well, like I did last time,
0:23:38 > 0:23:41it'll be about three days a week chiropody,
0:23:41 > 0:23:44and then three days a week on the house.
0:23:44 > 0:23:45# Mercy... #
0:23:45 > 0:23:48But this house has one or two bunions of its own
0:23:48 > 0:23:52requiring a different skill set, and toolset, to the day job.
0:23:52 > 0:23:56I just hope that it'll be a case of best foot forward for Bob.
0:23:56 > 0:23:59# Yes, your feet's too big... #
0:23:59 > 0:24:01These are things I like doing - bathrooms and kitchens.
0:24:01 > 0:24:03I really enjoy doing that.
0:24:03 > 0:24:06I don't enjoy messing about with little bits of...
0:24:06 > 0:24:08And making things good and changing things round
0:24:08 > 0:24:11and plastering and damp-proof coursing and things like that.
0:24:11 > 0:24:14- It all gets a bit messy.- Nothing like a good verruca, though, surely?
0:24:14 > 0:24:16THEY LAUGH Nothing like a good verruca.
0:24:16 > 0:24:19- No, come on.- A juicy corn. - Oh, a juicy corn!
0:24:19 > 0:24:21Stop it. We've got to stop talking about this.
0:24:22 > 0:24:26Sorry, you might be having your breakfast, so we will move on apace.
0:24:26 > 0:24:29Talking of speed, Bob reckons he'll have this done
0:24:29 > 0:24:32in three to four months. And daughter Harriet,
0:24:32 > 0:24:35who is a supervisor in a high-street jewellery shop,
0:24:35 > 0:24:36is going to be helping out.
0:24:40 > 0:24:43How are you going to share your time with your work and helping Dad out?
0:24:43 > 0:24:46Well, I'll probably just come one or two days a week
0:24:46 > 0:24:47cos I work five days.
0:24:47 > 0:24:50So, I'll come on my days off and help out where I can.
0:24:50 > 0:24:52It's been fantastic meeting you both today.
0:24:52 > 0:24:54Third time lucky for you on Homes Under The Hammer.
0:24:54 > 0:24:57- Thank you very much. - Good luck with this project.
0:24:57 > 0:24:59It'll be really exciting seeing the outcome.
0:24:59 > 0:25:02- Thanks very much, Lucy. Thanks for coming.- Thank you. Bye-bye.- Bye.
0:25:04 > 0:25:06Well, this seems like a straightforward job
0:25:06 > 0:25:08for Bob and Harriet,
0:25:08 > 0:25:11but will chiropodist Bob get his timings right
0:25:11 > 0:25:14or will he go and put his foot in it?
0:25:14 > 0:25:16You can join me later in the programme
0:25:16 > 0:25:18to find out how they get on.
0:25:19 > 0:25:21Coming up, the kitchen is the key
0:25:21 > 0:25:25to making more of this Wolverhampton terrace.
0:25:25 > 0:25:27Giving yourself a kitchen/dining space,
0:25:27 > 0:25:29but I think it would add value.
0:25:31 > 0:25:35And I've helped create a kitchen, too, in Bullbridge, Derbyshire.
0:25:35 > 0:25:37So, I grabbed Lucy after filming last time.
0:25:37 > 0:25:38Me and her agreed, so it's a white kitchen.
0:25:41 > 0:25:45MUSIC: Pumped Up Kicks by Foster The People
0:25:45 > 0:25:46Earlier in the show,
0:25:46 > 0:25:49I was in Newcastle-under-Lyme in Staffordshire
0:25:49 > 0:25:52to see a three-bed mid-terrace bought at auction
0:25:52 > 0:25:56by Tory and David for £75,000.
0:25:58 > 0:26:01Tory is a former nurse and David's a former teacher,
0:26:01 > 0:26:04but both have given up their careers to become gardeners -
0:26:04 > 0:26:07an unusual change of direction -
0:26:07 > 0:26:09but the couple also had a unique plan
0:26:09 > 0:26:11for their first property venture.
0:26:14 > 0:26:16It's an investment for us.
0:26:16 > 0:26:19- So, we've sold a canal boat... - Oh, right.- ..relatively recently,
0:26:19 > 0:26:22and we're living with Tory's mother.
0:26:22 > 0:26:26So, our plan is to make this purchase,
0:26:26 > 0:26:29to have it rented out and then, six months down the line,
0:26:29 > 0:26:31we will draw that money away
0:26:31 > 0:26:36and use it to build a granny flat on Tory's mother's house, but for us.
0:26:36 > 0:26:39She's going to stay in the house.
0:26:39 > 0:26:41They thought that they would have the project done
0:26:41 > 0:26:46in eight to ten weeks with a very precise budget of £11,500
0:26:46 > 0:26:49and a contingency of 3,500.
0:26:50 > 0:26:53Well, we're back seven months later.
0:26:53 > 0:26:56So, with this pair's green-fingered flair,
0:26:56 > 0:26:59I think it's only right that we start in the back garden.
0:26:59 > 0:27:02And reveal!
0:27:02 > 0:27:06- MUSIC STOPS - Ah. Oh, dear.
0:27:06 > 0:27:09Well, they do say that grass is just a flowerbed in waiting.
0:27:09 > 0:27:12But this garden has been waiting some time.
0:27:12 > 0:27:15At the moment, there's just nothing out there
0:27:15 > 0:27:17and I'm really sorry about that, but there we go.
0:27:17 > 0:27:20As much as I wanted to dive on in and create a new design,
0:27:20 > 0:27:23we've just had to focus on the house,
0:27:23 > 0:27:26and the money's been running out, so it's a little bit embarrassing
0:27:26 > 0:27:28because that was going to be our forte.
0:27:31 > 0:27:34David, you can stop being so hard on yourself right now
0:27:34 > 0:27:38because inside the house is spectacular.
0:27:39 > 0:27:41# Don't be so hard on yourself, no
0:27:43 > 0:27:45# Learn to forgive, learn to let go
0:27:47 > 0:27:50# Everyone trips, everyone falls
0:27:50 > 0:27:54# So, don't be so hard on yourself, no... #
0:27:56 > 0:27:58I think rainy days exist
0:27:58 > 0:28:01just to give gardeners a chance to work inside,
0:28:01 > 0:28:04and those eight months must have been a constant downpour,
0:28:04 > 0:28:06with the place looking as good as this.
0:28:06 > 0:28:09While the upstairs layout is unchanged,
0:28:09 > 0:28:13downstairs has an incredible, open-plan feel.
0:28:14 > 0:28:17I think my favourite part of the house
0:28:17 > 0:28:19is the open-plan living space down there.
0:28:19 > 0:28:23With the back being a south-facing garden and kitchen,
0:28:23 > 0:28:27it's really nice to bring the light into the downstairs space,
0:28:27 > 0:28:30and it just feels so much lighter and bigger.
0:28:30 > 0:28:33And the beautiful kitchen - we just really want to have that
0:28:33 > 0:28:35- in our own home now! - SHE LAUGHS
0:28:35 > 0:28:38The main touch was really the solid oak worktops,
0:28:38 > 0:28:40which we're delighted with.
0:28:40 > 0:28:42So, the touch is fantastic. It's smooth.
0:28:42 > 0:28:46It's come up really, really well. We're very, very pleased with that.
0:28:46 > 0:28:49And the cheeky little USB ports in the plugs -
0:28:49 > 0:28:50I really like those, as well.
0:28:54 > 0:28:58Those extra features have eaten into their contingency
0:28:58 > 0:29:01and the project has cost £13,500.
0:29:02 > 0:29:06Another place that you can see that quality is in the bathroom.
0:29:06 > 0:29:08I absolutely love those taps.
0:29:08 > 0:29:12And the tiles round the new suite have given it a real modern feel.
0:29:13 > 0:29:16The timescale went from eight weeks to eight months
0:29:16 > 0:29:19as the couple continued to lead expeditions
0:29:19 > 0:29:22for school kids around the country.
0:29:22 > 0:29:26Things have also been slowed by the role David has had to play.
0:29:27 > 0:29:31Every role. Every role possible. This is what I've played.
0:29:31 > 0:29:34So, I've had to take on new skills
0:29:34 > 0:29:37and it's been quite incredible, really.
0:29:37 > 0:29:40The things that we need the specialist people in to do,
0:29:40 > 0:29:42I've done, so...
0:29:42 > 0:29:44Friends have helped me, given some guidance
0:29:44 > 0:29:48and then set me off and then I've gone on with it,
0:29:48 > 0:29:51but it's not been without its challenges, for sure.
0:29:53 > 0:29:55And what about Tory's role?
0:29:55 > 0:29:58Well, Tory's been very supportive
0:29:58 > 0:30:00by telephone. HE LAUGHS
0:30:00 > 0:30:04My role's definitely been more in the supportive rather than active.
0:30:04 > 0:30:07Dave has pretty much done everything himself,
0:30:07 > 0:30:10but we have got lots of family and friends involved,
0:30:10 > 0:30:11especially my mum and nephew.
0:30:11 > 0:30:14They've even been across and doing painting.
0:30:14 > 0:30:17I feel I let her down a little bit cos I've gone over budget
0:30:17 > 0:30:21and I've taken so long, but I hope she's pleased,
0:30:21 > 0:30:24so we'll see what happens.
0:30:24 > 0:30:28On the budget front, David, you didn't use up all your contingency,
0:30:28 > 0:30:30so that's a well done.
0:30:30 > 0:30:33And I'm not the only one who thinks you should be taking a bow.
0:30:35 > 0:30:38I'm just so, so proud of David. I just...
0:30:38 > 0:30:43I think he's done an amazing job. He's worked so hard and he's very...
0:30:43 > 0:30:46He wants to make sure everything's done really properly
0:30:46 > 0:30:49and we both feel... Like we say, we both want the place to be homely
0:30:49 > 0:30:52and a nice place for a person or a family coming in.
0:30:52 > 0:30:57It's so much more complicated than you might think at the beginning,
0:30:57 > 0:31:01so to take that on board and to get through such a huge project
0:31:01 > 0:31:04is just, yeah, amazing.
0:31:04 > 0:31:06It is amazing. And don't worry,
0:31:06 > 0:31:10our green-fingered refurbishers have a plan for that garden.
0:31:11 > 0:31:14If we've got a tenant long-term, I'll have a chat with them
0:31:14 > 0:31:16and I think that they should have some input
0:31:16 > 0:31:19into how the design evolves.
0:31:19 > 0:31:21So, that's what we're going to do.
0:31:23 > 0:31:25Well, I think Tory and David
0:31:25 > 0:31:29and their family and friends have done a great job here.
0:31:29 > 0:31:32But will two local estate agents agree?
0:31:32 > 0:31:35I think the property's very impressive.
0:31:35 > 0:31:37The work that's been carried out is
0:31:37 > 0:31:40contemporary, stylish, very clean and I'm very impressed.
0:31:40 > 0:31:42Having had a look around the property,
0:31:42 > 0:31:45it's nice to see that the property's been modernised to a good standard.
0:31:45 > 0:31:48It certainly opens... A nice, open design layout downstairs
0:31:48 > 0:31:51with three good bedrooms and a beautiful bathroom.
0:31:51 > 0:31:55Tory and David bought the property for 75,000
0:31:55 > 0:32:01and spent 13,500 on it, giving them a total spend of 88,500.
0:32:01 > 0:32:05The agents think it could sell for 105,000,
0:32:05 > 0:32:09giving them a pre-tax profit of 16 and a half grand.
0:32:09 > 0:32:12But it's rentals they're interested in
0:32:12 > 0:32:15so that they can build and move into that annexe
0:32:15 > 0:32:17at Tory's mum's house.
0:32:20 > 0:32:22In today's rental market, I would suggest
0:32:22 > 0:32:25that the property would rent for around £550 per calendar month.
0:32:25 > 0:32:28Should the property be placed onto the rental market,
0:32:28 > 0:32:30given the buoyancy of it at the moment,
0:32:30 > 0:32:33I would expect to achieve somewhere in the region of £525
0:32:33 > 0:32:34per calendar month.
0:32:34 > 0:32:38- That's good. Yeah.- Yeah. - Very happy with that.- Yeah.
0:32:40 > 0:32:46At £550 per month, that would be a yield of just under 7.5%.
0:32:46 > 0:32:49That, along with remortgaging the property further down the line,
0:32:49 > 0:32:52will allow them to build their new home.
0:32:52 > 0:32:57So, are they gearing up for another project?
0:32:57 > 0:33:00Please may I do it again? SHE LAUGHS
0:33:00 > 0:33:03I think, at this point, when you sort of feel all ecstatic,
0:33:03 > 0:33:06you're probably like, "Yeah!", raring to go on the next one.
0:33:06 > 0:33:09But I would probably think - take things back, let's sit down,
0:33:09 > 0:33:10have a think properly.
0:33:10 > 0:33:15Whether it would be the same answer in six months' time, I'm not sure!
0:33:16 > 0:33:19Well, it seems this renovation has taken a lot out of them.
0:33:19 > 0:33:23So, having renovated one property, and one houseboat,
0:33:23 > 0:33:26what would they recommend to others?
0:33:26 > 0:33:29Get a boat. THEY LAUGH
0:33:36 > 0:33:39DION: Wolverhampton sits north-west of Birmingham
0:33:39 > 0:33:43and has the second largest population in the West Midlands.
0:33:46 > 0:33:50A town for many centuries, it was awarded city status in 2000
0:33:50 > 0:33:53to celebrate the passing of the millennium.
0:33:53 > 0:33:55# So, won't you take me back home? #
0:33:56 > 0:34:00So, just a ten-minute drive away from the centre of Wolverhampton,
0:34:00 > 0:34:02and a short walk away from the metro
0:34:02 > 0:34:04which takes you to the heart of the city,
0:34:04 > 0:34:06is the property I'm here to see.
0:34:06 > 0:34:09And it's this mid-terrace house. Two bedrooms.
0:34:09 > 0:34:12Has a guide price of £48,000 to £52,000.
0:34:12 > 0:34:14I'm going to have a look.
0:34:14 > 0:34:19# I said take me, take me, take, take me back home... #
0:34:19 > 0:34:21OK, we're straight into the front room -
0:34:21 > 0:34:25first reception room. Decent size. Nice, high ceilings.
0:34:25 > 0:34:29It would need to be redecorated, most definitely.
0:34:29 > 0:34:32Through into the second room. What have we got here?
0:34:32 > 0:34:34A little bit of storage.
0:34:34 > 0:34:37A little bit of plaster damage here, as well.
0:34:37 > 0:34:40Just flaking away there. That would need to be checked.
0:34:40 > 0:34:43Second reception room's even bigger. And the kitchen.
0:34:43 > 0:34:46Small galley kitchen. Quite tight in there.
0:34:46 > 0:34:49And you've got the bathroom right at the end just there,
0:34:49 > 0:34:54so that sort of tells me that there won't be a bathroom upstairs at all.
0:34:54 > 0:34:57So, as I look at it, I'm thinking to myself,
0:34:57 > 0:34:59as the kitchen is a little bit small -
0:34:59 > 0:35:01depending on what you want to do with the house -
0:35:01 > 0:35:04maybe you could actually think about knocking this wall down
0:35:04 > 0:35:07and bringing the kitchen a little bit further this way,
0:35:07 > 0:35:09giving yourself a kitchen/dining space,
0:35:09 > 0:35:10nice, big, open area.
0:35:10 > 0:35:13Just an idea - and it depends what you want to do with the house -
0:35:13 > 0:35:15but I think it would add value.
0:35:17 > 0:35:21One area where you can't really add value is windows.
0:35:22 > 0:35:24The house already has modern-looking,
0:35:24 > 0:35:27new PVC double-glazed units installed,
0:35:27 > 0:35:29but they could do with a bit of a clean.
0:35:29 > 0:35:32# Steamy windows
0:35:33 > 0:35:36# Coming from the body heat... #
0:35:36 > 0:35:41So, upstairs, we have two bedrooms, both decent sizes.
0:35:41 > 0:35:43This one here's to the front of the house,
0:35:43 > 0:35:45and this is the same size,
0:35:45 > 0:35:48but just looking on to the back garden.
0:35:48 > 0:35:50Not a lot needed doing up here at all.
0:35:50 > 0:35:53Maybe just completely redecorate the two bedrooms,
0:35:53 > 0:35:57pop some new carpet down and I think you'd be ready to go.
0:35:57 > 0:35:59You could do, if you prefer,
0:35:59 > 0:36:02maybe try and squeeze a bit of an en-suite toilet up here.
0:36:02 > 0:36:03I don't think you'd need to,
0:36:03 > 0:36:06and I think you'd be taking space that you want to keep as a bedroom.
0:36:06 > 0:36:09I'd keep it as it is. I'm going to check out the garden.
0:36:14 > 0:36:18So, out in the back garden, and, yes, it's a bit overgrown.
0:36:18 > 0:36:21It's bigger than what I was expecting it to be.
0:36:21 > 0:36:23Well, I think, if you spent a couple of days out here,
0:36:23 > 0:36:24get the family involved,
0:36:24 > 0:36:27get the gardening equipment out and just chop all this back,
0:36:27 > 0:36:31a bit of TLC, I think you'd get yourself a nice, family back garden.
0:36:31 > 0:36:35Maybe a new fence for a bit of privacy as well.
0:36:35 > 0:36:37And I wanted to have a look out the back here, as well,
0:36:37 > 0:36:40just to see if there was any scope for an extension.
0:36:40 > 0:36:42Now, as I've looked around, nobody else has done it,
0:36:42 > 0:36:45so I don't think it would be the right thing to do.
0:36:45 > 0:36:50Apart from that, big back garden, decent-sized house. I like it.
0:36:53 > 0:36:55But what will a local estate agent think?
0:36:55 > 0:36:57We invited one along to give us
0:36:57 > 0:36:59her expert opinion.
0:37:00 > 0:37:02First impressions of the property is
0:37:02 > 0:37:03there's good living space throughout.
0:37:03 > 0:37:06The works that need doing throughout the property is new carpets,
0:37:06 > 0:37:08re-plastering, a new kitchen, a new shower room,
0:37:08 > 0:37:10even some attention to the garden.
0:37:10 > 0:37:14That would cost in the region of about £5,000.
0:37:14 > 0:37:18The guide price for the house is between £48,000 and £52,000,
0:37:18 > 0:37:21so how much could it be worth once renovated?
0:37:21 > 0:37:24If I was to promote the property for resale,
0:37:24 > 0:37:27I believe it would achieve anything in the region of £70,000 to £75,000.
0:37:27 > 0:37:30And if the property was to be promoted for rent,
0:37:30 > 0:37:32I believe it would achieve anything from £425
0:37:32 > 0:37:34to £450 per calendar month.
0:37:36 > 0:37:39This is a pretty standard two up, two down house
0:37:39 > 0:37:42with very little work needing doing to it.
0:37:42 > 0:37:44A bit of plastering, get that back garden sorted out,
0:37:44 > 0:37:47and if you got it for anywhere near the guide price,
0:37:47 > 0:37:50I think it would be a shrewd investment.
0:37:50 > 0:37:52It's a pity it's on this busy main road.
0:37:52 > 0:37:55Anyway, let's see who wanted it when it went under the hammer.
0:37:57 > 0:38:00This next lot. 60,000 anywhere?
0:38:02 > 0:38:0555? Where are we going to start? 50?
0:38:05 > 0:38:09I'll be really kind - 40 - but I will not go lower.
0:38:09 > 0:38:13At £40,000 to get us started. At 40, I am bid, and thank you.
0:38:13 > 0:38:15And what a buy this will be.
0:38:15 > 0:38:17At 40,000, I'm bid. At 40,000.
0:38:18 > 0:38:21Oh, they're a tough crowd today.
0:38:21 > 0:38:23This property struggled to get off the ground.
0:38:23 > 0:38:29We rejoin the bidding sometime later when the price reached £52,000.
0:38:29 > 0:38:3152. Thank you, madam, at 52.
0:38:31 > 0:38:35And I want you to have it, as well, madam. At 52. 53?
0:38:36 > 0:38:41No? At £52,000, then, are we all done?
0:38:42 > 0:38:4653. Thank you, sir. At 53. 54?
0:38:47 > 0:38:5054? 54. Thank you. 55?
0:38:51 > 0:38:57No? At £54,000 for the first time.
0:38:57 > 0:39:0054,000 second time.
0:39:00 > 0:39:02Third and last time.
0:39:02 > 0:39:04Congratulations, madam. That property is yours.
0:39:08 > 0:39:11It was Rosine who was the successful bidder.
0:39:11 > 0:39:15This is a joint purchase between her and her husband Richard.
0:39:15 > 0:39:17Originally from Grenoble in France,
0:39:17 > 0:39:21Rosine came to the UK to study in the mid-'90s
0:39:21 > 0:39:23and she's been here ever since.
0:39:23 > 0:39:27I met up with her back at the house to find out what she plans to do
0:39:27 > 0:39:29with this Wolverhampton two up, two down.
0:39:34 > 0:39:36- Rosine, nice to meet you. - Nice to meet you.
0:39:36 > 0:39:38- And congratulations.- Thank you.
0:39:38 > 0:39:42Can you tell me what attracted you to this particular house?
0:39:42 > 0:39:44The price, the location.
0:39:44 > 0:39:47It's near to shops and public transport
0:39:47 > 0:39:51and it's a traditional terraced house,
0:39:51 > 0:39:54which has got character but straightforward, as well.
0:39:54 > 0:39:56- Definitely a traditional house.- Yes.
0:39:56 > 0:39:59Was it the kind of property that you were looking for?
0:39:59 > 0:40:05Yes, yes. Something to renovate and maybe to rent after.
0:40:05 > 0:40:09OK. And what was it that sort of enticed you
0:40:09 > 0:40:11- into getting into property? - The flexibility.
0:40:11 > 0:40:13So, I've got two children,
0:40:13 > 0:40:15- so I can take them to school in the morning.- OK.
0:40:15 > 0:40:17Then I go to work on the properties
0:40:17 > 0:40:20and then I can collect them at the end of the day.
0:40:21 > 0:40:25She's a busy mum and she'll soon be busy with this place, too.
0:40:25 > 0:40:29This is Rosine and Richard's fifth renovation project together
0:40:29 > 0:40:31over a period of seven years,
0:40:31 > 0:40:33so these guys know what they're doing,
0:40:33 > 0:40:37and for them, the hard work starts when they get the auction catalogue.
0:40:37 > 0:40:43- I had visited lots of properties - 20 from the catalogue.- 20?!- Yes.
0:40:43 > 0:40:45And then I selected five out of these
0:40:45 > 0:40:47that I thought were in a good price range
0:40:47 > 0:40:49and I could do something.
0:40:49 > 0:40:52- Three didn't need much work on them...- Mm-hm.
0:40:52 > 0:40:54..but they went above my limit.
0:40:54 > 0:40:56This one was the last one,
0:40:56 > 0:41:00so I thought, "Oh, I've done all this work for nothing."
0:41:00 > 0:41:02But I got it, so I was very pleased.
0:41:02 > 0:41:05So, Rosine, now you've got it, what are you going to do with it?
0:41:05 > 0:41:11New kitchen, new bathroom, decorating all the walls throughout.
0:41:11 > 0:41:14New doors. A lot of them are damaged.
0:41:14 > 0:41:15New frames, as well.
0:41:15 > 0:41:18- And the garden - tidying the garden, yes.- OK.
0:41:18 > 0:41:21And we'll check, as well, the electricity.
0:41:21 > 0:41:22We'll get a professional to check it
0:41:22 > 0:41:25and to check the boiler and the central heating.
0:41:25 > 0:41:28- It's pretty straightforward, isn't it, for you?- Yes, I hope so.
0:41:28 > 0:41:31I thought it was no major work.
0:41:31 > 0:41:33It's just things that we've done before -
0:41:33 > 0:41:35new kitchen, new bathroom.
0:41:35 > 0:41:38And in a terraced house, there's no...
0:41:38 > 0:41:40Hopefully, not much structural problems.
0:41:40 > 0:41:43- It should be straightforward. - Pretty straightforward?- Yes.
0:41:43 > 0:41:46Did you think about maybe turning the reception room into a kitchen
0:41:46 > 0:41:48and then the back of the property into a utility?
0:41:48 > 0:41:51I didn't think of it. It could be nice.
0:41:51 > 0:41:54It could develop the property further.
0:41:54 > 0:42:00But at the moment, we're just going to make it nice the way it is.
0:42:00 > 0:42:02- So, who's going to do all the work? - My father-in-law.
0:42:02 > 0:42:04We're lucky that he's happy to help
0:42:04 > 0:42:07and he's very good at doing plumbing.
0:42:07 > 0:42:10He can do tiling, he can do woodwork,
0:42:10 > 0:42:14so this is going to be very useful. And I help him, as well.
0:42:14 > 0:42:17- Well, we work together. - That's perfect.- Yes.
0:42:17 > 0:42:19- He is the perfect father-in-law. - He is, yes.
0:42:19 > 0:42:21And will he give you a good rate?
0:42:21 > 0:42:23Will he make sure that it's not too expensive?
0:42:23 > 0:42:25- Yes. I hope so, yes. - THEY LAUGH
0:42:25 > 0:42:27And what will you do yourself?
0:42:27 > 0:42:30The painting, the garden. I help him with the tiling.
0:42:30 > 0:42:32He shows me how to do the work
0:42:32 > 0:42:35- and then I copy him and... - Brilliant.- Yeah.
0:42:36 > 0:42:40With father-in-law Jack hopefully charging mates' rates,
0:42:40 > 0:42:42Rosine has set a budget of £5,000
0:42:42 > 0:42:45to get this property ready for the rental market.
0:42:45 > 0:42:48It comes as no surprise that this organised lady
0:42:48 > 0:42:51has done her research into that, as well.
0:42:52 > 0:42:54We should find some people to rent it out
0:42:54 > 0:42:56- cos it's close to public transport and shops.- Yeah.
0:42:56 > 0:43:00- And so there's nice houses around, yes.- OK.
0:43:00 > 0:43:02Have you done your research in this area
0:43:02 > 0:43:05on what things rent for and what things sell for?
0:43:05 > 0:43:08- Yes, we've had a look. Yes, yes.- OK.
0:43:08 > 0:43:12And it should be between £450 a month
0:43:12 > 0:43:14- and maybe a bit more, yes.- OK.
0:43:14 > 0:43:18- Have you looked at the selling prices, as well, just in case?- Yes.
0:43:18 > 0:43:22Hopefully, 75,000.
0:43:22 > 0:43:24- How long's all the work going to take?- Four months.
0:43:24 > 0:43:26- Four months?- Yes.
0:43:26 > 0:43:29- That's quite a while...- Yes. - ..to get it done.
0:43:29 > 0:43:30There's not a lot to be done here, is there?
0:43:30 > 0:43:34- Because it's just me and my father-in-law...- Oh, OK.
0:43:34 > 0:43:38..and a few professionals, we need to allow time to do everything.
0:43:38 > 0:43:40- Well, Rosine, I wish you all the best.- Yes.
0:43:40 > 0:43:43I think your father-in-law's going to be very important to you.
0:43:43 > 0:43:46- Thank you. Thanks.- Good luck. Good luck, good luck.- OK, thanks.
0:43:46 > 0:43:49It's good to hear that Rosine gets on with her father-in-law,
0:43:49 > 0:43:52and by the sounds of it, they're a pretty good team.
0:43:52 > 0:43:55Now, this is the fifth project they'll be doing together,
0:43:55 > 0:43:58and I personally don't think it's going to cause them any problems,
0:43:58 > 0:44:01especially with that generous four-month timescale.
0:44:01 > 0:44:04You can find out how they get on later on in the programme.
0:44:07 > 0:44:10So, we've seen what happened to the first of today's properties.
0:44:10 > 0:44:13Yeah, but what about the other two? How did they get on?
0:44:13 > 0:44:15It's time to return to see how it all works out.
0:44:18 > 0:44:21We step back to the Derbyshire village of Bullbridge
0:44:21 > 0:44:23where I saw a three-bed, detached house
0:44:23 > 0:44:26guided at 135,000 plus.
0:44:28 > 0:44:30So, inside the house, well, that's...
0:44:30 > 0:44:32that's quite a step up before you've got in,
0:44:32 > 0:44:36but once you're inside, I mean, this house is immaculate.
0:44:36 > 0:44:38It's in such good condition.
0:44:40 > 0:44:42Yes, it was worth the step up at the front door,
0:44:42 > 0:44:46as this house was a real step up the property ladder.
0:44:47 > 0:44:51Immaculate inside and just in need of some updating.
0:44:51 > 0:44:56But take a walk around the outside, well, and things weren't so great -
0:44:56 > 0:44:58a noisy busy road that needed blocking out
0:44:58 > 0:45:03and the presence of potentially dangerous asbestos in the garage.
0:45:03 > 0:45:05So, inside - near perfect,
0:45:05 > 0:45:10and outside - hazardous to hearing and, potentially, your health.
0:45:10 > 0:45:15# It's like we've got one foot in heaven
0:45:15 > 0:45:19# One foot in hell... #
0:45:21 > 0:45:24It was a buyer we'd seen on the show before, Bob,
0:45:24 > 0:45:26who put his best foot forward at auction
0:45:26 > 0:45:31and paid 150,000 for it, planning to resell or move in.
0:45:32 > 0:45:35But that was after renovation, and thankfully,
0:45:35 > 0:45:38he had daughter Harriet to help with that.
0:45:38 > 0:45:41And if you're wondering about all the feet references,
0:45:41 > 0:45:46it's a corny joke about Bob's day job as a chiropodist.
0:45:47 > 0:45:50Now, I know you're quite busy with your chiropody work as well.
0:45:50 > 0:45:53- Yes.- So, how are you going to combine the two?
0:45:53 > 0:45:54Well, like I did last time,
0:45:54 > 0:45:57it'll be about three days a week chiropody
0:45:57 > 0:46:00and then three days a week on the house.
0:46:00 > 0:46:02With a five-grand budget,
0:46:02 > 0:46:05Bob and Harriet plan to kick this property back into shape
0:46:05 > 0:46:07in three to four months.
0:46:07 > 0:46:10Six months on, well, let's have a look.
0:46:12 > 0:46:15# I'll go with you
0:46:15 > 0:46:18# Tonight could be amazing
0:46:18 > 0:46:20# Be amazing... #
0:46:20 > 0:46:23Downstairs, the living room shows how a lick of paint
0:46:23 > 0:46:26and a new carpet can really revive a room...
0:46:27 > 0:46:31..while the downstairs loo has thankfully been removed,
0:46:31 > 0:46:34so any visiting gasman can read the meter
0:46:34 > 0:46:37without their head in the basin.
0:46:37 > 0:46:39And they can still wash their hands after they've done it.
0:46:39 > 0:46:43But the real triumph is something I had a little hand in.
0:46:43 > 0:46:45It's the kitchen.
0:46:48 > 0:46:52I like a nice, white kitchen, but everybody said to me,
0:46:52 > 0:46:55"The new white is cream. You must do a cream kitchen."
0:46:55 > 0:46:58So, I grabbed Lucy after filming last time and said,
0:46:58 > 0:47:01"Everybody's telling me they want a cream kitchen."
0:47:01 > 0:47:03And she went, "No, no, it's got to be a white kitchen."
0:47:03 > 0:47:05So, me and her agreed, so it's a white kitchen.
0:47:07 > 0:47:09Well, I don't want to claim too much credit, Bob,
0:47:09 > 0:47:11but I think the result is fantastic.
0:47:13 > 0:47:16Heading upstairs, there's a new oak banister
0:47:16 > 0:47:19and the loo and bathroom are still separate,
0:47:19 > 0:47:22but the new suite looks great.
0:47:29 > 0:47:31And the bedrooms do, too,
0:47:31 > 0:47:34having been de-textured by Bob and Harriet.
0:47:34 > 0:47:37Done a lot of stripping the wallpaper off the walls
0:47:37 > 0:47:40and then doing the painting afterwards just...
0:47:40 > 0:47:44And then all the skirting boards and making sure that it looks all right.
0:47:46 > 0:47:49Outside, it was about safety and privacy.
0:47:49 > 0:47:52Bob had planted a hedge, which, eventually, he hopes,
0:47:52 > 0:47:54will buffer the sound from the busy road.
0:47:56 > 0:48:00But making the asbestos-ridden garage safe proved more difficult.
0:48:00 > 0:48:04The garage was a little bit of a nightmare and took a long time.
0:48:04 > 0:48:08I had to demolish all that and rebuild the walls
0:48:08 > 0:48:10and strengthen everything a little bit.
0:48:10 > 0:48:12And then I just tried to make it neat and tidy
0:48:12 > 0:48:15so that people can use it as a garage and workshop.
0:48:15 > 0:48:17But, really, the garage and the garden
0:48:17 > 0:48:21are the reason why we took a bit longer than anticipated.
0:48:23 > 0:48:25The project took six months
0:48:25 > 0:48:27rather than their intended three to four months,
0:48:27 > 0:48:31and the delay, plus the cost of replacing some windows,
0:48:31 > 0:48:34pushed their budget to eight grand.
0:48:34 > 0:48:37But that's just a small damper on a brilliant result.
0:48:39 > 0:48:43So, hard work done, what's the plan now?
0:48:43 > 0:48:46# Do what you want Do what you want... #
0:48:46 > 0:48:48The plan's the same, really.
0:48:48 > 0:48:50The option is still there to move in here.
0:48:50 > 0:48:52It's quite a way from where we live and work,
0:48:52 > 0:48:57so it's perhaps more likely we're going to sell this on now,
0:48:57 > 0:48:58depending on the values.
0:48:59 > 0:49:01Oh, come on, Bob.
0:49:01 > 0:49:05Don't you know it's me who's supposed to cue the estate agents?
0:49:05 > 0:49:07Ooh, and here they are now.
0:49:07 > 0:49:12With the father and daughter's total spend of £158,000,
0:49:12 > 0:49:15it's time to see if it's worth selling on.
0:49:15 > 0:49:19Up first, the agent who saw it before the renovation.
0:49:19 > 0:49:22Now, what can he tell us about the local market
0:49:22 > 0:49:25and how much does he think it's worth for resale?
0:49:26 > 0:49:29Since my initial visit to the property some six months ago,
0:49:29 > 0:49:31the property prices have gone up somewhat.
0:49:31 > 0:49:34There is also a lack of property coming to market
0:49:34 > 0:49:35with good demand from buyers.
0:49:35 > 0:49:38Recent comparison would suggest that
0:49:38 > 0:49:41my initial figures six months ago were actually on the low side
0:49:41 > 0:49:43in comparison to what's happening today.
0:49:43 > 0:49:48I would estimate this to be worth £185,000 to £190,000.
0:49:48 > 0:49:50If this property were offered for sale,
0:49:50 > 0:49:53I would anticipate a sale somewhere in the region of £175,000
0:49:53 > 0:49:56to £180,000.
0:49:56 > 0:49:59I've had my own agent from this area,
0:49:59 > 0:50:02who's well used to marketing this particular area,
0:50:02 > 0:50:07and he said 190 would be a quick-sale value.
0:50:07 > 0:50:11He felt the real value was between 200 and 210,
0:50:11 > 0:50:14and suggested marketing it just under 210,
0:50:14 > 0:50:17which we'll probably do if we go down that line.
0:50:18 > 0:50:22At Bob's agent's value of 210,000,
0:50:22 > 0:50:26that would be a pre-tax profit of 52 grand.
0:50:26 > 0:50:29Another auction success for Bob and Harriet,
0:50:29 > 0:50:32and the hard work certainly has been well worth it.
0:50:33 > 0:50:35Seeing all your hard work come together
0:50:35 > 0:50:38in all of the house in general, it makes it...
0:50:38 > 0:50:40It's really good that you can see
0:50:40 > 0:50:43that your hard work's gone to something.
0:50:49 > 0:50:52DION: We're wandering back to Wolverhampton,
0:50:52 > 0:50:54the location of a two-bed mid-terrace
0:50:54 > 0:50:58guided at £48,000 to £52,000.
0:50:58 > 0:51:01It was a standard two up, two down in need of very little,
0:51:01 > 0:51:03except for some redecoration
0:51:03 > 0:51:07and a bit of a rethink when it came to the kitchen layout.
0:51:08 > 0:51:13The best thing I could do was give this seemingly simple renovation
0:51:13 > 0:51:14a simple summing up.
0:51:15 > 0:51:19Big back garden, decent-sized house. I like it.
0:51:21 > 0:51:23# Simply irresistible... #
0:51:26 > 0:51:28Rosine and husband Richard couldn't resist
0:51:28 > 0:51:31making this their fifth renovation project,
0:51:31 > 0:51:33snapping it up for 54 grand.
0:51:35 > 0:51:37French-born Rosine worked on the renovations
0:51:37 > 0:51:40with her father-in-law, and family was the main reason
0:51:40 > 0:51:44she was attracted to property development.
0:51:44 > 0:51:45So, I've got two children,
0:51:45 > 0:51:47- so I can take them to school in the morning.- OK.
0:51:47 > 0:51:49Then I go to work on the properties
0:51:49 > 0:51:52and then I can collect them at the end of the day.
0:51:53 > 0:51:55We're now back nine months later,
0:51:55 > 0:51:59quite a bit over their four-month timescale.
0:51:59 > 0:52:02Outside the house, things are already looking bright,
0:52:02 > 0:52:05with some of the double glazing being replaced.
0:52:05 > 0:52:09But it's inside the property that needed modernising,
0:52:09 > 0:52:10and that's what they've done.
0:52:22 > 0:52:24The kitchen has a new layout
0:52:24 > 0:52:28and the redesign has been thoughtful to the lack of space in here.
0:52:28 > 0:52:31They have looked to use every square inch
0:52:31 > 0:52:35by moving the boiler upstairs and extending the worktop.
0:52:36 > 0:52:40Throughout the back, the bathroom has a compact, modern suite.
0:52:40 > 0:52:43Again, good work in a tight squeeze.
0:52:44 > 0:52:46Every other room in the house
0:52:46 > 0:52:49just needed a bit of plastering and updated decor.
0:52:50 > 0:52:53# Say ooh-ooh-ooh-ooh-ooh
0:52:53 > 0:52:56# Different colours
0:52:56 > 0:52:58# Ooh-ooh-ooh-ooh-ooh
0:52:58 > 0:53:01# We carry each other
0:53:01 > 0:53:03# Ooh-ooh-ooh-ooh-ooh... #
0:53:03 > 0:53:06Rosine and her father-in-law Jack have ensured
0:53:06 > 0:53:09that they have introduced a different colour palette
0:53:09 > 0:53:11that, while being fashionable,
0:53:11 > 0:53:15is still neutral enough to attract buyers and renters alike.
0:53:15 > 0:53:19It's looking good, but why did it take nine months?
0:53:19 > 0:53:24The boiler was the biggest time-consuming thing.
0:53:24 > 0:53:29We were happy at the start cos we thought we could get a grant,
0:53:29 > 0:53:32but eventually, after a few months,
0:53:32 > 0:53:34we realised we couldn't get an installer
0:53:34 > 0:53:39that was approved for the scheme, so we ended up forgetting this grant
0:53:39 > 0:53:43and we did it with a local installer.
0:53:43 > 0:53:46So, in the end, it took us nine months.
0:53:46 > 0:53:51The boiler, when we were waiting for the grant and the installer,
0:53:51 > 0:53:53that was a big delay.
0:53:53 > 0:53:56Three months after we had the boiler, it was all done.
0:53:58 > 0:54:00There's nothing more frustrating
0:54:00 > 0:54:03than a renovation being held up by one aspect.
0:54:03 > 0:54:07Still, the house looks great and the highlight for me is that kitchen.
0:54:08 > 0:54:11I sort of imagined myself using the kitchen.
0:54:11 > 0:54:15I would need some space behind myself to open the oven.
0:54:15 > 0:54:16We also knew the regulations.
0:54:16 > 0:54:19We couldn't have the hob underneath the window,
0:54:19 > 0:54:21so we had to have it on the wall side.
0:54:21 > 0:54:24We just managed to put lots of storage, as well, wherever we could.
0:54:24 > 0:54:27We put some quite small unit doors
0:54:27 > 0:54:31so that we can open them and still have room, so it's easier.
0:54:31 > 0:54:34A lot of consideration has been given by the pair
0:54:34 > 0:54:37when it comes to making best use of space.
0:54:37 > 0:54:41And Rosine has gained a lot of useful experience, as well.
0:54:41 > 0:54:46I enjoyed organising everything, planning ahead.
0:54:46 > 0:54:49I know it can be a bit overwhelming
0:54:49 > 0:54:51when we think of everything we have to do,
0:54:51 > 0:54:56but we just have to do it and, you know, hope for the best. Yes.
0:54:56 > 0:55:01But with long delays, how did the eight-grand budget hold up?
0:55:02 > 0:55:05The total expense in the end,
0:55:05 > 0:55:08if we include the fees at the beginning -
0:55:08 > 0:55:13the solicitor's fees - it's £12,000, which is more than we thought,
0:55:13 > 0:55:17but we didn't really know how much it would be.
0:55:17 > 0:55:21We had the unexpected expense of the boiler, as well,
0:55:21 > 0:55:24so we hope it's still going to be worthwhile.
0:55:25 > 0:55:26Well, it's time to find out
0:55:26 > 0:55:28if it was worthwhile, Rosine.
0:55:28 > 0:55:31We've asked along two local estate agents
0:55:31 > 0:55:33for their thoughts and valuations.
0:55:33 > 0:55:38First, the impressions of the agent who saw it before the renovation.
0:55:38 > 0:55:41My first impressions of the property is the owner has finished it
0:55:41 > 0:55:42to a great standard throughout.
0:55:42 > 0:55:44The kitchen is very impressive and stylish
0:55:44 > 0:55:46and she's integrated appliances in here.
0:55:46 > 0:55:48Also, with the downstairs shower room,
0:55:48 > 0:55:50she's done that to a contemporary standard, too.
0:55:50 > 0:55:52Very well finished.
0:55:52 > 0:55:55The big selling points for the property in this type of area
0:55:55 > 0:55:58is more than likely the price.
0:55:58 > 0:56:02They're relatively cheap compared to a lot of properties,
0:56:02 > 0:56:04but they do represent good value for money.
0:56:07 > 0:56:10A good cue to find out those prices, then.
0:56:10 > 0:56:15Rosine and Richard have spent a total of 66 grand here,
0:56:15 > 0:56:18and as they plan to rent, let's get those values first.
0:56:20 > 0:56:23I would envisage the rent being something
0:56:23 > 0:56:27between £450 and £500 per calendar month.
0:56:27 > 0:56:29On the rental market, the owner could achieve
0:56:29 > 0:56:34anything between the region of £475 to £500 per calendar month.
0:56:34 > 0:56:36OK, that's very good, yes. That would be great, yes.
0:56:36 > 0:56:39That's what we were thinking - 450.
0:56:41 > 0:56:43£500 a month?
0:56:43 > 0:56:46That's a yield of 9%, and great news.
0:56:46 > 0:56:49But having invested a total of 66 grand,
0:56:49 > 0:56:52would they make a profit if they sold?
0:56:53 > 0:56:56Based on the current conditions... We're in a rising market.
0:56:56 > 0:56:59We're finding properties are achieving very good prices.
0:56:59 > 0:57:01..I do believe the current owner of this property
0:57:01 > 0:57:04could achieve anything between £80,000 to £85,000.
0:57:04 > 0:57:08If the current owner decides to place the property on the market,
0:57:08 > 0:57:10I would envisage the property going
0:57:10 > 0:57:15for a figure in the region of £85,000.
0:57:15 > 0:57:16Maybe even 90.
0:57:16 > 0:57:21We know that houses in the area, for a two-bedroom terraced house,
0:57:21 > 0:57:24is about that much, so this is good, yes.
0:57:25 > 0:57:28Good's a bit of an understatement, Rosine.
0:57:28 > 0:57:35A resale value of £90,000 would mean a 24 grand pre-tax profit.
0:57:35 > 0:57:36And with returns like that,
0:57:36 > 0:57:39it's definitely worth getting the family team together
0:57:39 > 0:57:41on another project.
0:57:41 > 0:57:43It would be great if my father-in-law was happy
0:57:43 > 0:57:45to work again on another project,
0:57:45 > 0:57:50and also, as I learn more and more and get more experience,
0:57:50 > 0:57:54I could maybe be more confident to do more myself
0:57:54 > 0:57:57and recruit people to help me with the jobs
0:57:57 > 0:58:00that I don't feel like I can do.
0:58:04 > 0:58:05Well, that's it for now.
0:58:05 > 0:58:09We hope you picked up some hints and tips on today's show.
0:58:09 > 0:58:11Yes, we hope you've been inspired
0:58:11 > 0:58:13and might pop down to your local property auction.
0:58:13 > 0:58:15Yeah, we've got loads more stories for you,
0:58:15 > 0:58:18so make sure you join us next time for more Homes Under The Hammer.
0:58:18 > 0:58:19- See you then.- Goodbye. - Bye-bye.- Goodbye.