Episode 27 Homes Under the Hammer

Hello, and welcome to the show.

Bricks and mortar can be the best investment out there,

-but only if you get it right.

-Mm-hm.

Yeah, and if you're looking for good value and choice,

then, in my opinion, you should head down to your local property auction.

Yes. Make sure you know what you're getting into

when you buy your home under the hammer.

Now, I've said it before, I know, but I'm going to say it again -

-do your research.

-Yes, well said, Lucy.

-Thank you.

-But did today's buyers follow our advice?

-Let's find out.

I'm judging if this layout is right

in Newcastle-under-Lyme, Staffordshire.

Do I particularly like it? Um...jury's out.

Someone has placed the utilities against better judgment

in Bullbridge, Derbyshire.

Put right at the back there is the gas meter.

Can't see the gasman being very happy.

And I'm passing judgment on this Wolverhampton property.

It's a thumbs up from me.

Big back garden, decent-sized house. I like it.

All these properties were bought at auction.

We'll find out who got them and how much they paid

-when they went under the hammer.

-Your lot, madam. Well done.

198 miles south of Newcastle upon Tyne

lies its almost namesake Newcastle-under-Lyme.

The Lyme refers to a forest of lime trees

which covered the area in medieval times.

This more southerly Newcastle

lies in the potteries of North Staffordshire.

Well, about a mile from the town centre

is a property I'm here to see, and it is a mid-terrace.

Three bedrooms. Guide price - 50,000 quid.

Like the bricks on the outside. Let's have a look inside.

Oh, OK. Erm, straight off the street into the front lounge.

Pretty much the standard layout of these kind of houses,

so I'm not expecting anything too dramatic.

Looking for basic things,

therefore we're looking for general state of the decor,

we're looking for signs of damp, you know,

and any major structural problems,

which, to be fair, are less likely in a terrace

than other kinds of properties. But anyway, room looks OK.

Looks like it's been relatively recently painted.

Doesn't smell damp. And then through to the middle room,

which is actually the sort of kitchen area.

Again, it's not in bad condition.

At a push, you could leave it as it is,

but I think, spend a bit of money here

and you'd really tart the place up.

And then, as is very common with these kind of properties,

through into this little rear area

where you've got the addition of a nice little utility area.

Relatively old boiler, so you'd definitely want

to have that serviced or at least checked out.

Like the tile flooring. A few signs of damp here and there.

Apart from that, you know, it is pretty much what I expected.

Including the ubiquitous downstairs bathroom,

which, if you were renting out the place,

would be quite adequate.

And you do get a good through view from the bath.

Well, upstairs, and all is not

what it might have originally appeared to be.

I'll explain why in a second.

You've got the front bedroom here, which is at least a reasonable size.

Got a few signs of damp here and there.

Then you come into this bit of the property

and you've got the second bedroom here, which is...

Well, it's not bad. It's a single, I guess.

And then this kind of wheedely thing going round

to the rear of the property where you've got your third bedroom.

Now, my guess is that, at some stage,

the stairs have been moved from their previous position,

which, traditionally in these houses,

is across like that, and then moved to the side

to create basically the layout we see here.

Maybe, in the past, there was three bedrooms,

but you accessed one through another one.

I can tell that because A, this is a very heavy wall,

and downstairs, there isn't a corresponding wall.

In fact, there's something called an RSJ - a steel girder -

in the ceiling. So, at some stage,

somebody's done some kind of a conversion.

What it does create is three bedrooms.

Do I particularly like it?

Um...jury's out.

Ladies and gentlemen of the jury,

I present to you exhibit A, a narrow corridor.

There is no doubt this compromises the width of bedroom two,

whilst leading to another diminutive bedroom three.

Will your verdict be the same as the former owner

who created this arrangement?

# Oh, that's the way Uh-huh, uh-huh

# I like it Uh-huh, uh-huh

# That's the way Uh-huh, uh-huh

# I like it Uh-huh, uh-huh... #

So, out the back of the property, a smallish sort of garden.

Obviously needs a bit of tender loving care.

I was hoping that there might be some kind of rear access,

as there often is in these kind of terraced houses,

but unfortunately not.

But what you have got is a reasonable amenity space.

Looks like there's a shed or something that's been taken down

that was attached to the property. And from the back here, again,

it looks to be in pretty reasonable nick,

so nothing to worry me here.

No worries for me

about this property, guided at £48,000 to £52,000.

But what does a local estate agent

think it might be worth once renovated?

Depending on the spec,

the value could be somewhere in the region of about £115,000.

So, no surprises with this one. Just a good, solid little house.

Let's see who spotted the investment,

or the potential to create this into a lovely family home,

when it went under the hammer.

Lot 52 is Newcastle-under-Lyme in Staffordshire.

Going to say 50 to start.

Three-bedroom. Thank you, madam. 50,000.

Seated right at £50,000. 51, can I see now?

At 50... 51.

With the guide price passed,

the bids take us up to the £60,000 mark,

where we rejoin proceedings.

60? 60. 61. 62. 63. 64.

65. 66. 67. 68.

No? At 68, then. Lady's bid at £68,000. 69 anywhere else?

69 left. 70. 71.

No? 71, lady in pink. At £71,000.

72 anywhere else?

Yeah? 72? 72. 73.

-Yes.

-74. 75.

Sure?

75, then. To my left at £75,000. 76 anywhere else?

If not, £75,000 for the first time. £75,000 for the second time.

Third and final time at £75,000.

Your lot, madam. Well done.

The successful bid came from Tory and David.

Tory used to be a nurse and David used to teach,

but they gave it all up to become part-time gardeners.

We met them at their £75,000 acquisition.

-Tory, David, good to meet you both.

-Hello.

-And you, Martin. Hi.

Congratulations. Tell me why you wanted to buy this little place.

Um, yeah, it's an investment for us.

-So, we sold a canal boat...

-Oh, right.

-..relatively recently,

and we're living with Tory's mother.

So, our plan is to make this purchase,

to have it rented out and then, six months down the line,

we will draw that money away

and use it to build a granny flat on Tory's mother's house, but for us.

She's going to stay in the house.

You've sold your canal boat? What, were you living on that, then?

Yes, we lived there when I became a student nurse

and David was a student teacher several years back.

So, as a cheaper way of living,

we moved back up to where I'm from in Yorkshire

-and got the canal boat.

-So, what prompted the move?

Cos I could imagine that's a way of life

-you could just carry on with.

-Yeah.

It forces you to slow down and relax.

It was a chance for us to move

and a time when Tory's mum was able to help us

and we could all go in together,

so it's worked out really, really well for us.

Oh, wow. What a fascinating back story there.

Anyway, it allowed you to buy this little place here.

Well, we have friends in the area - very good friends in the area.

I did a year at the uni here, too, some many years ago,

so we are slightly familiar with this area.

But we figured that we'd need to spend

probably 25% more on a property where we are in Lancashire

-to achieve the same rental return.

-Right.

Whereas Newcastle represents great value, we think,

-and we love it here, so...

-Yeah.

-So, why not? We've gone for it.

-We're just thinking of a nest egg

-for the future.

-Yeah.

-Keep it long-term.

And we now work self-employed as gardeners...

-Oh, OK.

-..so our incomes are slightly reduced.

-Slightly changed.

We're doing little bits of mountaineering,

outdoor work, gardening,

and then hopefully this will sort of add to the pot as well, so...

I know it might not deliver a lot of money,

but I'm sure there are people listening who are very rich,

thinking, "You know what?

"Being a gardener and doing a bit of mountaineering -

-"that sounds like a really nice life choice."

-Yeah, yeah.

Money's, you know, not really been a focus of what we've wanted.

It's just enough to get by to do what we need to do.

So, it's nice to know that every penny we both earn,

we do so outside. It's quite nice outside in all sorts of weathers.

-MARTIN LAUGHS

-I'm sure, on a freezing cold

-February morning, it's...

-THEY LAUGH

..not quite so brilliant, but not to worry.

So, why this particular house, then?

-Was it just the price or the location or what?

-I think both.

We'd been looking, or David had certainly been looking,

for properties for maybe up to a year,

and we had a certain amount from the canal boat,

and everything seemed to be going over our budget.

And this was going up at auction so we thought,

"We'll try something different, try something new."

And we had a set budget and the location is good -

close to the hospital and there's a school nearby.

And a lot of our friends and local people

have said it's a really nice area.

And I think, with the three bedrooms, as well, here...

We only wanted a minimum of two, really,

so to get the third bedroom was advantageous

and it fell into budget.

Tory resents seeing the property before going to auction,

-so it was just me to go down.

-You trusted him?

-Yes.

-THEY LAUGH

But we went to the auction together

and we only had the keys a couple of hours before you've arrived.

Wow. Well, they may have only had the keys for two hours,

but they already have a plan to put in a new kitchen and bathroom,

re-skim and give the place a cosmetic overhaul.

While that might be the plan...

Just an hour ago, we were considering

whether we went into the loft, but...

The ideas are constantly changing.

Yeah, ideas are changing all of the time,

but I think we'll stick with the basics,

try and turn it round as quickly as we can.

Really good spruce up. And obviously, being gardeners,

we'll have a good tackle at the garden,

make that look really nice for any tenants coming in.

-Fantastic. And then the idea is to rent it out?

-Yes.

-So, what's the budget for the work?

-Budget for the work will be 11,500.

-That's very precise.

-Yes.

-HE LAUGHS

-Including the garden. 10,000.

It's around just sort of £10,000 and one and a half for the garden.

Yeah, I have a very good friend

who came in the middle of the night last night who is a builder

and who said, "David, like, this is what you need.

-"This is what you need."

-OK.

-So, hopefully, we'll go with that.

There's three and a half for contingency,

so maximum overall is 15.

-So, what's the timescale?

-Hopefully, eight to ten weeks.

-OK.

If we can do it quicker, that would be wonderful.

It might be their first development and their first auction purchase,

but they are being very professional.

Frightening! I think we both could almost hear our own hearts pounding.

-Absolutely.

-But I think I just sort of stepped forward and went,

"Shall I do the bidding?"

And I think, from my nursing experience,

it teaches you a lot to be calm, even when you might be sort of...

-Panicking a bit. Yeah, yeah.

-..paddling underneath.

So, my heart was pounding, but I just was kind of...

But it all happened and it was, yeah, very exciting.

It was a great experience. I love looking back on it.

But at the time, nerve-racking for a first event.

-Very nerve-racking.

-Yeah, for sure.

-There's no doubt.

Well, congratulations. Really lovely to meet you both.

-I hope you have a fantastic time.

-Thank you very much.

-Cheers, Martin.

-Yeah, look forward to seeing how you get on.

-BOTH:

-Thank you.

So, Tory and David swapping a canal boat

for a little terrace in Newcastle.

Actually, I think they've chosen really well.

And that is a very realistic budget they've set themselves.

How will they get on sorting it out?

Well, we certainly expect a marvellous garden

when we come back later in the show.

-LUCY:

-And now to Derbyshire and the lovely village of Bullbridge.

It's a mostly residential area, but has good road access to the M1.

There are changes afoot for this village, too.

Outline planning permission has been approved for 171 new units,

building on the site of the old dye works.

With a building programme like that,

this village can be very bullish indeed.

So, if you want to be close to your local country pub,

this auction property could be ideal cos the pub is just there

and the property is just here behind this lovely cobbled wall.

Now, the property does need a little bit of cosmetic upgrading.

It's got three bedrooms and it had a guide price of £135,000 plus.

Although situated next to a busy road,

the property is in a pleasant little close.

So, inside the house, well, that's...

that's quite a step up before you've got in,

but once you're inside, I mean, this house is immaculate.

It's in such good condition. And in here...

-SHE CHUCKLES

-Oh! Hmm.

Now, this is a little bit awkward.

In here is the loo, which is fantastic,

but right at the back there is the gas and the electricity meter.

Can't see the gasman being very happy

having to sort of ram his face

round the back end of the toilet to read the meter.

Not ideal, is it? Anyway, moving on, we've got the lounge here.

Fantastic new carpet in there. It's all been freshly painted.

It's just got a very new feel to it, although it's not new.

Clearly, you can see, it is very dated,

but it's just clean as a whistle.

Fantastic space. I mean, you could work with what's here,

but I think if you did update this

and put some nice, shiny, light-reflective units in,

it would look fantastic.

You've got a little conservatory out there.

I mean, it really is a great room

and it's so nice to walk in to a house on Homes Under The Hammer

that's in such good condition and the heating's on.

Yes! My luck is in.

So, upstairs, we've got three bedrooms.

A really nice-sized bedroom to the front of the property.

A separate loo and bathroom here,

which, again, it depends which side of the fence you sit on.

Do you like the separate loo and the bathroom?

Or you could knock them through and have a much bigger space.

Something I have noticed everywhere is this textured wallpaper.

It is giving this house a very dated feel.

And to get rid of that, though, you need to rip it off

and you could end up with lots of holes in the wall,

and a re-plaster job could be quite pricey,

although I do think that is the right thing to do.

And then right at the back of the property,

you've got a bedroom here, a very small bedroom there.

I'd call that an office or a little nursery.

But this is such a peaceful, sunny space.

It's absolutely glorious in here.

And there is one thing I would never tire of,

and that's looking out at that spectacular view

of the Derbyshire countryside.

It really is magnificent.

The same can't be said for the views from the conservatory.

It looks straight out onto a tall wooden fence.

# You've got a different, different, different point of view... #

The front garden is mostly laid to lawn,

but could benefit from a hedge behind the stone wall,

which would help to reduce the road noise,

but it's a good-sized plot.

Well, it's funny, really,

because this back garden is in stark contrast to the front.

It's just literally paved over with concrete slabs

and it's really small.

I wasn't expecting it to be like this.

But I suppose it is good that you are shielded

with the fence from the main road.

And there's something over here that is worrying me.

You've got the back end of the garage.

Now, if you look closely,

you can see up there there's a big crack

and there's some brick slips trying to cover it up.

My guess is that's asbestos

and I'd certainly be getting a contractor in

to give me the best bit of advice.

But at the moment, we'll settle for getting a local estate agent in

to take a look around the property

and give us some valuations.

The main appeal of this property would be to the family buyer.

Good location in terms of nice and quiet, lovely countryside,

not too far from primary schools

and secondary school education, and great for commuting.

Once updated, what could the property sell for?

When the renovation and refurbishment has been carried out,

I think this property will sell for

in the region of £165,000 to £170,000.

As far as auction properties go,

this house doesn't need too much work.

Yes, it does need updating,

but you could move in straightaway if need be.

Let's see who was interested when this property went under the hammer.

Lot 32.

Where do you want to be with this? May I say 135 for it? 130,000?

125 to put it into the bidding? Thank you. 125.

125 is my opening bid. 126 is bid at the back. 126. 127?

-130.

-130. Thank you. 130,000. 131? 131?

-135.

-135.

-From a low start, the property recovers to the guide price.

-136.

We rejoin the bids at 141,000.

141. 142? 42.

143. 144. 145. 145.

146? 146.

-147?

-150.

-150. Thank you. £150,000.

151? Against you on the phone.

£150,000 for the first time, for the second time.

-Third chance.

-GAVEL BANGS

Sold at 150. Thank you.

The top bid came from Bob at the auction with friend Nicky.

And if he looks familiar,

it's because he's been on the show twice before.

The last time was when he bought this three-bedroom detached house

in Codnor in Derbyshire in July 2013.

Bob and his daughter Harriet formed the renovation team,

and they seem to have an appetite for refurbishing.

Possibly another one again after,

depending what we do with this one, obviously.

-And does that fit in with your...?

-Yes, I think we'll keep doing them.

As long as there's money around, we'll do another one.

-THEY LAUGH

-Well, they're back.

It turns out he loves singing karaoke to Andy Williams tunes,

so I think the pub across the road

will be a definite Friday night destination.

But I don't know if this crooning chiropodist

will be good enough to get some clippings in the local paper.

Bob and Harriet, congratulations. And you've come back for more

because this isn't the first time of being on the show, is it?

Well, it's the third time, but I said to the producer

-I would only come back on again if Lucy came this time...

-Yes!

-..cos we've had Martin twice.

-Well, here I am. First time with me.

-Congratulations, Bob.

-Thank you.

-Well done.

So, now, what was the plan behind you wanting to buy this?

Because, as I said, this isn't your first auction property.

It isn't, no.

The family house is quite big and we're rattling around in it,

so we really need to find somewhere else to move in to

while I do a bit of work on that house.

I know that you lived in one of the other properties, didn't you?

Yeah, the first one that we did up, I moved into.

-Are you still there now?

-Yeah, I'm still there now.

-I'm very happy with it.

-So, why this property?

-I mean, does it tick the boxes for you?

-Well, it does.

It's in a nice position, nice village.

It's in very good condition, as you can see.

Doesn't need a great deal doing to it,

apart from kitchen and bathroom.

And there are no walls to knock down, there are no cracks,

-there's no damp.

-I know!

-No rot.

-Can I just tell you,

it's so fantastic to come in to a house like this.

It doesn't feel horrible. It feels really nice to be in.

In fact, it's quite warm. It's a lovely, sunny day today.

The heating works. THEY LAUGH

-What about the fact that it's also quite on the road?

-Yeah.

Have you thought about doing some planting along the front wall?

The road is a bit of an issue,

although lots of houses in this country are close to the roads.

But I think, with this house,

most of the garden lies alongside the road,

and as you know, you can't have a very high fence next to the road.

So, what I'm planning to do is install an instant hedge

with lots of planting just behind the wall,

which will screen off the garden

and enable me to take down the big, high fence outside the conservatory

and get rid of the obscure windows in the conservatory.

So, we'll gain a nice, private garden

which can be seen from the road.

It's quite an interesting toilet

as you walk in the front door to the left there,

with all the utilities behind it. So, what's that about?

Well, I think that perhaps an elderly person lived here.

It seems as if the toilet's been squeezed into there

just to save somebody going upstairs.

As you've seen, we have a separate toilet and bathroom upstairs

and all the rooms downstairs lead into the hallway,

so it's not as if you have to traipse through half the house

and then wind up some stairs

and go to the other side of the house to find the bathroom.

So, I think we'll take that little toilet out

and just have it as a cloakroom.

It might be possible just to shift it to one side,

but right in the middle where it is now, you can't get to anything.

-Yeah, it's quite an unusual place.

-Very unusual.

-It looks like it's just been put there.

-Yeah, yeah.

And every time a light trips a fuse, then you can't get in there.

You have to climb around the loo!

-Yeah, that's not going to be much fun, is it?

-No, not really.

What sort of budget have you got to spend in the property?

I think we'll be able to do it for around about 6,000 or 7,000,

depending on the garage, which is a little bit higgledy-piggledy.

You'll see on the back there, there's what looks to be

a brick wall with a big crack down it

and it's just brick fascia over asbestos,

-so a lot of that needs to come down and get sorted out, so...

-Yeah.

Now, I know you're quite busy

-with your chiropody work, as well, aren't you?

-Yes.

How are you going to combine the two?

Well, like I did last time,

it'll be about three days a week chiropody,

and then three days a week on the house.

# Mercy... #

But this house has one or two bunions of its own

requiring a different skill set, and toolset, to the day job.

I just hope that it'll be a case of best foot forward for Bob.

# Yes, your feet's too big... #

These are things I like doing - bathrooms and kitchens.

I really enjoy doing that.

I don't enjoy messing about with little bits of...

And making things good and changing things round

and plastering and damp-proof coursing and things like that.

-It all gets a bit messy.

-Nothing like a good verruca, though, surely?

THEY LAUGH Nothing like a good verruca.

-No, come on.

-A juicy corn.

-Oh, a juicy corn!

Stop it. We've got to stop talking about this.

Sorry, you might be having your breakfast, so we will move on apace.

Talking of speed, Bob reckons he'll have this done

in three to four months. And daughter Harriet,

who is a supervisor in a high-street jewellery shop,

is going to be helping out.

How are you going to share your time with your work and helping Dad out?

Well, I'll probably just come one or two days a week

cos I work five days.

So, I'll come on my days off and help out where I can.

It's been fantastic meeting you both today.

Third time lucky for you on Homes Under The Hammer.

-Thank you very much.

-Good luck with this project.

It'll be really exciting seeing the outcome.

-Thanks very much, Lucy. Thanks for coming.

-Thank you. Bye-bye.

-Bye.

Well, this seems like a straightforward job

for Bob and Harriet,

but will chiropodist Bob get his timings right

or will he go and put his foot in it?

You can join me later in the programme

to find out how they get on.

Coming up, the kitchen is the key

to making more of this Wolverhampton terrace.

Giving yourself a kitchen/dining space,

but I think it would add value.

And I've helped create a kitchen, too, in Bullbridge, Derbyshire.

So, I grabbed Lucy after filming last time.

Me and her agreed, so it's a white kitchen.

MUSIC: Pumped Up Kicks by Foster The People

Earlier in the show,

I was in Newcastle-under-Lyme in Staffordshire

to see a three-bed mid-terrace bought at auction

by Tory and David for £75,000.

Tory is a former nurse and David's a former teacher,

but both have given up their careers to become gardeners -

an unusual change of direction -

but the couple also had a unique plan

for their first property venture.

It's an investment for us.

-So, we've sold a canal boat...

-Oh, right.

-..relatively recently,

and we're living with Tory's mother.

So, our plan is to make this purchase,

to have it rented out and then, six months down the line,

we will draw that money away

and use it to build a granny flat on Tory's mother's house, but for us.

She's going to stay in the house.

They thought that they would have the project done

in eight to ten weeks with a very precise budget of £11,500

and a contingency of 3,500.

Well, we're back seven months later.

So, with this pair's green-fingered flair,

I think it's only right that we start in the back garden.

And reveal!

-MUSIC STOPS

-Ah. Oh, dear.

Well, they do say that grass is just a flowerbed in waiting.

But this garden has been waiting some time.

At the moment, there's just nothing out there

and I'm really sorry about that, but there we go.

As much as I wanted to dive on in and create a new design,

we've just had to focus on the house,

and the money's been running out, so it's a little bit embarrassing

because that was going to be our forte.

David, you can stop being so hard on yourself right now

because inside the house is spectacular.

# Don't be so hard on yourself, no

# Learn to forgive, learn to let go

# Everyone trips, everyone falls

# So, don't be so hard on yourself, no... #

I think rainy days exist

just to give gardeners a chance to work inside,

and those eight months must have been a constant downpour,

with the place looking as good as this.

While the upstairs layout is unchanged,

downstairs has an incredible, open-plan feel.

I think my favourite part of the house

is the open-plan living space down there.

With the back being a south-facing garden and kitchen,

it's really nice to bring the light into the downstairs space,

and it just feels so much lighter and bigger.

And the beautiful kitchen - we just really want to have that

-in our own home now!

-SHE LAUGHS

The main touch was really the solid oak worktops,

which we're delighted with.

So, the touch is fantastic. It's smooth.

It's come up really, really well. We're very, very pleased with that.

And the cheeky little USB ports in the plugs -

I really like those, as well.

Those extra features have eaten into their contingency

and the project has cost £13,500.

Another place that you can see that quality is in the bathroom.

I absolutely love those taps.

And the tiles round the new suite have given it a real modern feel.

The timescale went from eight weeks to eight months

as the couple continued to lead expeditions

for school kids around the country.

Things have also been slowed by the role David has had to play.

Every role. Every role possible. This is what I've played.

So, I've had to take on new skills

and it's been quite incredible, really.

The things that we need the specialist people in to do,

I've done, so...

Friends have helped me, given some guidance

and then set me off and then I've gone on with it,

but it's not been without its challenges, for sure.

And what about Tory's role?

Well, Tory's been very supportive

by telephone. HE LAUGHS

My role's definitely been more in the supportive rather than active.

Dave has pretty much done everything himself,

but we have got lots of family and friends involved,

especially my mum and nephew.

They've even been across and doing painting.

I feel I let her down a little bit cos I've gone over budget

and I've taken so long, but I hope she's pleased,

so we'll see what happens.

On the budget front, David, you didn't use up all your contingency,

so that's a well done.

And I'm not the only one who thinks you should be taking a bow.

I'm just so, so proud of David. I just...

I think he's done an amazing job. He's worked so hard and he's very...

He wants to make sure everything's done really properly

and we both feel... Like we say, we both want the place to be homely

and a nice place for a person or a family coming in.

It's so much more complicated than you might think at the beginning,

so to take that on board and to get through such a huge project

is just, yeah, amazing.

It is amazing. And don't worry,

our green-fingered refurbishers have a plan for that garden.

If we've got a tenant long-term, I'll have a chat with them

and I think that they should have some input

into how the design evolves.

So, that's what we're going to do.

Well, I think Tory and David

and their family and friends have done a great job here.

But will two local estate agents agree?

I think the property's very impressive.

The work that's been carried out is

contemporary, stylish, very clean and I'm very impressed.

Having had a look around the property,

it's nice to see that the property's been modernised to a good standard.

It certainly opens... A nice, open design layout downstairs

with three good bedrooms and a beautiful bathroom.

Tory and David bought the property for 75,000

and spent 13,500 on it, giving them a total spend of 88,500.

The agents think it could sell for 105,000,

giving them a pre-tax profit of 16 and a half grand.

But it's rentals they're interested in

so that they can build and move into that annexe

at Tory's mum's house.

In today's rental market, I would suggest

that the property would rent for around £550 per calendar month.

Should the property be placed onto the rental market,

given the buoyancy of it at the moment,

I would expect to achieve somewhere in the region of £525

per calendar month.

-That's good. Yeah.

-Yeah.

-Very happy with that.

-Yeah.

At £550 per month, that would be a yield of just under 7.5%.

That, along with remortgaging the property further down the line,

will allow them to build their new home.

So, are they gearing up for another project?

Please may I do it again? SHE LAUGHS

I think, at this point, when you sort of feel all ecstatic,

you're probably like, "Yeah!", raring to go on the next one.

But I would probably think - take things back, let's sit down,

have a think properly.

Whether it would be the same answer in six months' time, I'm not sure!

Well, it seems this renovation has taken a lot out of them.

So, having renovated one property, and one houseboat,

what would they recommend to others?

Get a boat. THEY LAUGH

DION: Wolverhampton sits north-west of Birmingham

and has the second largest population in the West Midlands.

A town for many centuries, it was awarded city status in 2000

to celebrate the passing of the millennium.

# So, won't you take me back home? #

So, just a ten-minute drive away from the centre of Wolverhampton,

and a short walk away from the metro

which takes you to the heart of the city,

is the property I'm here to see.

And it's this mid-terrace house. Two bedrooms.

Has a guide price of £48,000 to £52,000.

I'm going to have a look.

# I said take me, take me, take, take me back home... #

OK, we're straight into the front room -

first reception room. Decent size. Nice, high ceilings.

It would need to be redecorated, most definitely.

Through into the second room. What have we got here?

A little bit of storage.

A little bit of plaster damage here, as well.

Just flaking away there. That would need to be checked.

Second reception room's even bigger. And the kitchen.

Small galley kitchen. Quite tight in there.

And you've got the bathroom right at the end just there,

so that sort of tells me that there won't be a bathroom upstairs at all.

So, as I look at it, I'm thinking to myself,

as the kitchen is a little bit small -

depending on what you want to do with the house -

maybe you could actually think about knocking this wall down

and bringing the kitchen a little bit further this way,

giving yourself a kitchen/dining space,

nice, big, open area.

Just an idea - and it depends what you want to do with the house -

but I think it would add value.

One area where you can't really add value is windows.

The house already has modern-looking,

new PVC double-glazed units installed,

but they could do with a bit of a clean.

# Steamy windows

# Coming from the body heat... #

So, upstairs, we have two bedrooms, both decent sizes.

This one here's to the front of the house,

and this is the same size,

but just looking on to the back garden.

Not a lot needed doing up here at all.

Maybe just completely redecorate the two bedrooms,

pop some new carpet down and I think you'd be ready to go.

You could do, if you prefer,

maybe try and squeeze a bit of an en-suite toilet up here.

I don't think you'd need to,

and I think you'd be taking space that you want to keep as a bedroom.

I'd keep it as it is. I'm going to check out the garden.

So, out in the back garden, and, yes, it's a bit overgrown.

It's bigger than what I was expecting it to be.

Well, I think, if you spent a couple of days out here,

get the family involved,

get the gardening equipment out and just chop all this back,

a bit of TLC, I think you'd get yourself a nice, family back garden.

Maybe a new fence for a bit of privacy as well.

And I wanted to have a look out the back here, as well,

just to see if there was any scope for an extension.

Now, as I've looked around, nobody else has done it,

so I don't think it would be the right thing to do.

Apart from that, big back garden, decent-sized house. I like it.

But what will a local estate agent think?

We invited one along to give us

her expert opinion.

First impressions of the property is

there's good living space throughout.

The works that need doing throughout the property is new carpets,

re-plastering, a new kitchen, a new shower room,

even some attention to the garden.

That would cost in the region of about £5,000.

The guide price for the house is between £48,000 and £52,000,

so how much could it be worth once renovated?

If I was to promote the property for resale,

I believe it would achieve anything in the region of £70,000 to £75,000.

And if the property was to be promoted for rent,

I believe it would achieve anything from £425

to £450 per calendar month.

This is a pretty standard two up, two down house

with very little work needing doing to it.

A bit of plastering, get that back garden sorted out,

and if you got it for anywhere near the guide price,

I think it would be a shrewd investment.

It's a pity it's on this busy main road.

Anyway, let's see who wanted it when it went under the hammer.

This next lot. 60,000 anywhere?

55? Where are we going to start? 50?

I'll be really kind - 40 - but I will not go lower.

At £40,000 to get us started. At 40, I am bid, and thank you.

And what a buy this will be.

At 40,000, I'm bid. At 40,000.

Oh, they're a tough crowd today.

This property struggled to get off the ground.

We rejoin the bidding sometime later when the price reached £52,000.

52. Thank you, madam, at 52.

And I want you to have it, as well, madam. At 52. 53?

No? At £52,000, then, are we all done?

53. Thank you, sir. At 53. 54?

54? 54. Thank you. 55?

No? At £54,000 for the first time.

54,000 second time.

Third and last time.

Congratulations, madam. That property is yours.

It was Rosine who was the successful bidder.

This is a joint purchase between her and her husband Richard.

Originally from Grenoble in France,

Rosine came to the UK to study in the mid-'90s

and she's been here ever since.

I met up with her back at the house to find out what she plans to do

with this Wolverhampton two up, two down.

-Rosine, nice to meet you.

-Nice to meet you.

-And congratulations.

-Thank you.

Can you tell me what attracted you to this particular house?

The price, the location.

It's near to shops and public transport

and it's a traditional terraced house,

which has got character but straightforward, as well.

-Definitely a traditional house.

-Yes.

Was it the kind of property that you were looking for?

Yes, yes. Something to renovate and maybe to rent after.

OK. And what was it that sort of enticed you

-into getting into property?

-The flexibility.

So, I've got two children,

-so I can take them to school in the morning.

-OK.

Then I go to work on the properties

and then I can collect them at the end of the day.

She's a busy mum and she'll soon be busy with this place, too.

This is Rosine and Richard's fifth renovation project together

over a period of seven years,

so these guys know what they're doing,

and for them, the hard work starts when they get the auction catalogue.

-I had visited lots of properties - 20 from the catalogue.

-20?!

-Yes.

And then I selected five out of these

that I thought were in a good price range

and I could do something.

-Three didn't need much work on them...

-Mm-hm.

..but they went above my limit.

This one was the last one,

so I thought, "Oh, I've done all this work for nothing."

But I got it, so I was very pleased.

So, Rosine, now you've got it, what are you going to do with it?

New kitchen, new bathroom, decorating all the walls throughout.

New doors. A lot of them are damaged.

New frames, as well.

-And the garden - tidying the garden, yes.

-OK.

And we'll check, as well, the electricity.

We'll get a professional to check it

and to check the boiler and the central heating.

-It's pretty straightforward, isn't it, for you?

-Yes, I hope so.

I thought it was no major work.

It's just things that we've done before -

new kitchen, new bathroom.

And in a terraced house, there's no...

Hopefully, not much structural problems.

-It should be straightforward.

-Pretty straightforward?

-Yes.

Did you think about maybe turning the reception room into a kitchen

and then the back of the property into a utility?

I didn't think of it. It could be nice.

It could develop the property further.

But at the moment, we're just going to make it nice the way it is.

-So, who's going to do all the work?

-My father-in-law.

We're lucky that he's happy to help

and he's very good at doing plumbing.

He can do tiling, he can do woodwork,

so this is going to be very useful. And I help him, as well.

-Well, we work together.

-That's perfect.

-Yes.

-He is the perfect father-in-law.

-He is, yes.

And will he give you a good rate?

Will he make sure that it's not too expensive?

-Yes. I hope so, yes.

-THEY LAUGH

And what will you do yourself?

The painting, the garden. I help him with the tiling.

He shows me how to do the work

-and then I copy him and...

-Brilliant.

-Yeah.

With father-in-law Jack hopefully charging mates' rates,

Rosine has set a budget of £5,000

to get this property ready for the rental market.

It comes as no surprise that this organised lady

has done her research into that, as well.

We should find some people to rent it out

-cos it's close to public transport and shops.

-Yeah.

-And so there's nice houses around, yes.

-OK.

Have you done your research in this area

on what things rent for and what things sell for?

-Yes, we've had a look. Yes, yes.

-OK.

And it should be between £450 a month

-and maybe a bit more, yes.

-OK.

-Have you looked at the selling prices, as well, just in case?

-Yes.

Hopefully, 75,000.

-How long's all the work going to take?

-Four months.

-Four months?

-Yes.

-That's quite a while...

-Yes.

-..to get it done.

There's not a lot to be done here, is there?

-Because it's just me and my father-in-law...

-Oh, OK.

..and a few professionals, we need to allow time to do everything.

-Well, Rosine, I wish you all the best.

-Yes.

I think your father-in-law's going to be very important to you.

-Thank you. Thanks.

-Good luck. Good luck, good luck.

-OK, thanks.

It's good to hear that Rosine gets on with her father-in-law,

and by the sounds of it, they're a pretty good team.

Now, this is the fifth project they'll be doing together,

and I personally don't think it's going to cause them any problems,

especially with that generous four-month timescale.

You can find out how they get on later on in the programme.

So, we've seen what happened to the first of today's properties.

Yeah, but what about the other two? How did they get on?

It's time to return to see how it all works out.

We step back to the Derbyshire village of Bullbridge

where I saw a three-bed, detached house

guided at 135,000 plus.

So, inside the house, well, that's...

that's quite a step up before you've got in,

but once you're inside, I mean, this house is immaculate.

It's in such good condition.

Yes, it was worth the step up at the front door,

as this house was a real step up the property ladder.

Immaculate inside and just in need of some updating.

But take a walk around the outside, well, and things weren't so great -

a noisy busy road that needed blocking out

and the presence of potentially dangerous asbestos in the garage.

So, inside - near perfect,

and outside - hazardous to hearing and, potentially, your health.

# It's like we've got one foot in heaven

# One foot in hell... #

It was a buyer we'd seen on the show before, Bob,

who put his best foot forward at auction

and paid 150,000 for it, planning to resell or move in.

But that was after renovation, and thankfully,

he had daughter Harriet to help with that.

And if you're wondering about all the feet references,

it's a corny joke about Bob's day job as a chiropodist.

Now, I know you're quite busy with your chiropody work as well.

-Yes.

-So, how are you going to combine the two?

Well, like I did last time,

it'll be about three days a week chiropody

and then three days a week on the house.

With a five-grand budget,

Bob and Harriet plan to kick this property back into shape

in three to four months.

Six months on, well, let's have a look.

# I'll go with you

# Tonight could be amazing

# Be amazing... #

Downstairs, the living room shows how a lick of paint

and a new carpet can really revive a room...

..while the downstairs loo has thankfully been removed,

so any visiting gasman can read the meter

without their head in the basin.

And they can still wash their hands after they've done it.

But the real triumph is something I had a little hand in.

It's the kitchen.

I like a nice, white kitchen, but everybody said to me,

"The new white is cream. You must do a cream kitchen."

So, I grabbed Lucy after filming last time and said,

"Everybody's telling me they want a cream kitchen."

And she went, "No, no, it's got to be a white kitchen."

So, me and her agreed, so it's a white kitchen.

Well, I don't want to claim too much credit, Bob,

but I think the result is fantastic.

Heading upstairs, there's a new oak banister

and the loo and bathroom are still separate,

but the new suite looks great.

And the bedrooms do, too,

having been de-textured by Bob and Harriet.

Done a lot of stripping the wallpaper off the walls

and then doing the painting afterwards just...

And then all the skirting boards and making sure that it looks all right.

Outside, it was about safety and privacy.

Bob had planted a hedge, which, eventually, he hopes,

will buffer the sound from the busy road.

But making the asbestos-ridden garage safe proved more difficult.

The garage was a little bit of a nightmare and took a long time.

I had to demolish all that and rebuild the walls

and strengthen everything a little bit.

And then I just tried to make it neat and tidy

so that people can use it as a garage and workshop.

But, really, the garage and the garden

are the reason why we took a bit longer than anticipated.

The project took six months

rather than their intended three to four months,

and the delay, plus the cost of replacing some windows,

pushed their budget to eight grand.

But that's just a small damper on a brilliant result.

So, hard work done, what's the plan now?

# Do what you want Do what you want... #

The plan's the same, really.

The option is still there to move in here.

It's quite a way from where we live and work,

so it's perhaps more likely we're going to sell this on now,

depending on the values.

Oh, come on, Bob.

Don't you know it's me who's supposed to cue the estate agents?

Ooh, and here they are now.

With the father and daughter's total spend of £158,000,

it's time to see if it's worth selling on.

Up first, the agent who saw it before the renovation.

Now, what can he tell us about the local market

and how much does he think it's worth for resale?

Since my initial visit to the property some six months ago,

the property prices have gone up somewhat.

There is also a lack of property coming to market

with good demand from buyers.

Recent comparison would suggest that

my initial figures six months ago were actually on the low side

in comparison to what's happening today.

I would estimate this to be worth £185,000 to £190,000.

If this property were offered for sale,

I would anticipate a sale somewhere in the region of £175,000

to £180,000.

I've had my own agent from this area,

who's well used to marketing this particular area,

and he said 190 would be a quick-sale value.

He felt the real value was between 200 and 210,

and suggested marketing it just under 210,

which we'll probably do if we go down that line.

At Bob's agent's value of 210,000,

that would be a pre-tax profit of 52 grand.

Another auction success for Bob and Harriet,

and the hard work certainly has been well worth it.

Seeing all your hard work come together

in all of the house in general, it makes it...

It's really good that you can see

that your hard work's gone to something.

DION: We're wandering back to Wolverhampton,

the location of a two-bed mid-terrace

guided at £48,000 to £52,000.

It was a standard two up, two down in need of very little,

except for some redecoration

and a bit of a rethink when it came to the kitchen layout.

The best thing I could do was give this seemingly simple renovation

a simple summing up.

Big back garden, decent-sized house. I like it.

# Simply irresistible... #

Rosine and husband Richard couldn't resist

making this their fifth renovation project,

snapping it up for 54 grand.

French-born Rosine worked on the renovations

with her father-in-law, and family was the main reason

she was attracted to property development.

So, I've got two children,

-so I can take them to school in the morning.

-OK.

Then I go to work on the properties

and then I can collect them at the end of the day.

We're now back nine months later,

quite a bit over their four-month timescale.

Outside the house, things are already looking bright,

with some of the double glazing being replaced.

But it's inside the property that needed modernising,

and that's what they've done.

The kitchen has a new layout

and the redesign has been thoughtful to the lack of space in here.

They have looked to use every square inch

by moving the boiler upstairs and extending the worktop.

Throughout the back, the bathroom has a compact, modern suite.

Again, good work in a tight squeeze.

Every other room in the house

just needed a bit of plastering and updated decor.

# Say ooh-ooh-ooh-ooh-ooh

# Different colours

# Ooh-ooh-ooh-ooh-ooh

# We carry each other

# Ooh-ooh-ooh-ooh-ooh... #

Rosine and her father-in-law Jack have ensured

that they have introduced a different colour palette

that, while being fashionable,

is still neutral enough to attract buyers and renters alike.

It's looking good, but why did it take nine months?

The boiler was the biggest time-consuming thing.

We were happy at the start cos we thought we could get a grant,

but eventually, after a few months,

we realised we couldn't get an installer

that was approved for the scheme, so we ended up forgetting this grant

and we did it with a local installer.

So, in the end, it took us nine months.

The boiler, when we were waiting for the grant and the installer,

that was a big delay.

Three months after we had the boiler, it was all done.

There's nothing more frustrating

than a renovation being held up by one aspect.

Still, the house looks great and the highlight for me is that kitchen.

I sort of imagined myself using the kitchen.

I would need some space behind myself to open the oven.

We also knew the regulations.

We couldn't have the hob underneath the window,

so we had to have it on the wall side.

We just managed to put lots of storage, as well, wherever we could.

We put some quite small unit doors

so that we can open them and still have room, so it's easier.

A lot of consideration has been given by the pair

when it comes to making best use of space.

And Rosine has gained a lot of useful experience, as well.

I enjoyed organising everything, planning ahead.

I know it can be a bit overwhelming

when we think of everything we have to do,

but we just have to do it and, you know, hope for the best. Yes.

But with long delays, how did the eight-grand budget hold up?

The total expense in the end,

if we include the fees at the beginning -

the solicitor's fees - it's £12,000, which is more than we thought,

but we didn't really know how much it would be.

We had the unexpected expense of the boiler, as well,

so we hope it's still going to be worthwhile.

Well, it's time to find out

if it was worthwhile, Rosine.

We've asked along two local estate agents

for their thoughts and valuations.

First, the impressions of the agent who saw it before the renovation.

My first impressions of the property is the owner has finished it

to a great standard throughout.

The kitchen is very impressive and stylish

and she's integrated appliances in here.

Also, with the downstairs shower room,

she's done that to a contemporary standard, too.

Very well finished.

The big selling points for the property in this type of area

is more than likely the price.

They're relatively cheap compared to a lot of properties,

but they do represent good value for money.

A good cue to find out those prices, then.

Rosine and Richard have spent a total of 66 grand here,

and as they plan to rent, let's get those values first.

I would envisage the rent being something

between £450 and £500 per calendar month.

On the rental market, the owner could achieve

anything between the region of £475 to £500 per calendar month.

OK, that's very good, yes. That would be great, yes.

That's what we were thinking - 450.

£500 a month?

That's a yield of 9%, and great news.

But having invested a total of 66 grand,

would they make a profit if they sold?

Based on the current conditions... We're in a rising market.

We're finding properties are achieving very good prices.

..I do believe the current owner of this property

could achieve anything between £80,000 to £85,000.

If the current owner decides to place the property on the market,

I would envisage the property going

for a figure in the region of £85,000.

Maybe even 90.

We know that houses in the area, for a two-bedroom terraced house,

is about that much, so this is good, yes.

Good's a bit of an understatement, Rosine.

A resale value of £90,000 would mean a 24 grand pre-tax profit.

And with returns like that,

it's definitely worth getting the family team together

on another project.

It would be great if my father-in-law was happy

to work again on another project,

and also, as I learn more and more and get more experience,

I could maybe be more confident to do more myself

and recruit people to help me with the jobs

that I don't feel like I can do.

Well, that's it for now.

We hope you picked up some hints and tips on today's show.

Yes, we hope you've been inspired

and might pop down to your local property auction.

Yeah, we've got loads more stories for you,

so make sure you join us next time for more Homes Under The Hammer.

-See you then.

-Goodbye.

-Bye-bye.

-Goodbye.