0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:06Now, property auctions are not for the faint-hearted.
0:00:06 > 0:00:09It is an adrenaline-filled environment.
0:00:09 > 0:00:11Yes, and if you are a successful bidder
0:00:11 > 0:00:14you could have the keys in your hands in only four weeks.
0:00:14 > 0:00:16Yes, you could. So, if you think you've got what it takes,
0:00:16 > 0:00:19why not buy your home under the hammer?
0:00:44 > 0:00:47Every auction lot has got a story attached to it
0:00:47 > 0:00:49and, over the years, we have heard all of them.
0:00:49 > 0:00:51Yeah, and guess what we've got? Three more for you today.
0:00:51 > 0:00:54Yes. What are we waiting for? Here they are.
0:00:55 > 0:00:58This cottage in Burton upon Trent, East Staffordshire,
0:00:58 > 0:01:00comes with the potential to build out.
0:01:00 > 0:01:04If you did something with this, you would double the size of the house.
0:01:05 > 0:01:09And I'm building a third bedroom at this flat in Crystal Palace, London.
0:01:11 > 0:01:15And then the bathroom becomes a bedroom.
0:01:15 > 0:01:20I'm doing some demolition work at this bungalow in Mossley, Tameside.
0:01:20 > 0:01:21As you can see...
0:01:21 > 0:01:25That's not got... I'll put that back, as I found it.
0:01:27 > 0:01:29All these properties were bought at auction.
0:01:29 > 0:01:31We'll find out who got them, and how much they paid
0:01:31 > 0:01:34when these homes went under the hammer.
0:01:34 > 0:01:35It's gone.
0:01:38 > 0:01:40Burton upon Trent in East Staffordshire
0:01:40 > 0:01:42is world renowned for its beer.
0:01:42 > 0:01:46It's been made here since the 11th century.
0:01:48 > 0:01:52Well, not far from Burton town centre, in a rural location,
0:01:52 > 0:01:56set back off the main road, is the property I'm here to see.
0:01:56 > 0:01:58£85,000 plus was the guide price for this.
0:01:58 > 0:02:00It's a two-bedroomed cottage.
0:02:00 > 0:02:04Looks like it's full of character from the outside. Let's explore.
0:02:04 > 0:02:08It really is a beautiful building, and was formerly a coach house.
0:02:08 > 0:02:13But, unfortunately, it looks like it's saddled with a very leaky roof.
0:02:13 > 0:02:15Hmm, OK.
0:02:15 > 0:02:17Not the best of first impressions.
0:02:17 > 0:02:20It all feels a bit door-y and cramped,
0:02:20 > 0:02:22and that's not what you really want, is it?
0:02:22 > 0:02:25The good news, there is a downstairs loo there.
0:02:25 > 0:02:27But, again, knock a lot of this out if you possibly could,
0:02:27 > 0:02:30because once you get in here... it starts to get a bit better.
0:02:30 > 0:02:33Good news, you've got central heating, by the looks of it.
0:02:33 > 0:02:36Stairs to the bedrooms there. And then the...
0:02:36 > 0:02:38Strange place for a bath.
0:02:38 > 0:02:40The corridor kind of wiggles round.
0:02:40 > 0:02:42Again, it just...
0:02:42 > 0:02:45I don't know, just doesn't seem to work as a layout.
0:02:45 > 0:02:48Kitchen...needs some attention.
0:02:48 > 0:02:51It's not working, is it? Not at all.
0:02:51 > 0:02:53Into this room, here, which is your main living room.
0:02:53 > 0:02:56And, again, it just feels a little bit cramped.
0:02:56 > 0:02:58Lots of light coming in from the windows,
0:02:58 > 0:03:02but, actually, through this window, what could be a potential problem.
0:03:02 > 0:03:05And that is... HE LAUGHS
0:03:05 > 0:03:06For a start...
0:03:07 > 0:03:11Bit of a big drop out the sliding doors, there, so that doesn't work.
0:03:11 > 0:03:14And you are also very, very overlooked by,
0:03:14 > 0:03:17and overlooking, that house there,
0:03:17 > 0:03:20so that throws up all sorts of potential issues
0:03:20 > 0:03:21which need investigating.
0:03:23 > 0:03:27So, downstairs layout not great, but I'm sure it could be improved.
0:03:27 > 0:03:30Outside layout, not great.
0:03:30 > 0:03:33You'd have to really love your neighbour.
0:03:33 > 0:03:35Let's see if things get better upstairs.
0:03:35 > 0:03:39Well, it's not as boxed in as downstairs, with two bedrooms
0:03:39 > 0:03:43and a bathroom that is already just about ripped out for you.
0:03:44 > 0:03:47There needs to be some serious layout changes in here,
0:03:47 > 0:03:51and there is one feature of the house that would make that easier.
0:03:51 > 0:03:53Now, here's an interesting thing.
0:03:53 > 0:03:56Right at the side of the house, attached to it,
0:03:56 > 0:03:59are these outbuildings. This is a large one here,
0:03:59 > 0:04:03and a slightly smaller one here. Again, I love this brick
0:04:03 > 0:04:08and the kind of detail of the curvature above the windows.
0:04:08 > 0:04:10I think this is being underutilised,
0:04:10 > 0:04:13and I'd like to see this integrated into the property.
0:04:13 > 0:04:15If you look at the size of it, the footprint,
0:04:15 > 0:04:18although you'd have to work on foundations and damp-proofing
0:04:18 > 0:04:20and all that kind of stuff, if you did something with this
0:04:20 > 0:04:26you would double the size of the house. So, this is great news.
0:04:26 > 0:04:29That means talking to your local planners
0:04:29 > 0:04:33to find out if permission was likely to change these outhouses
0:04:33 > 0:04:35to residential accommodation.
0:04:35 > 0:04:38The auctioneer who sold it came along to tell us more about this
0:04:38 > 0:04:43unusual property, guided at £85,000.
0:04:43 > 0:04:45It is quite an interesting property here.
0:04:45 > 0:04:47Started out life as a coach house, I think,
0:04:47 > 0:04:50with grooms' accommodation, to the large house
0:04:50 > 0:04:51that's located just in front of us.
0:04:51 > 0:04:54In the course of time, my understanding is,
0:04:54 > 0:04:56it became a granny annexe
0:04:56 > 0:04:58but, actually, hadn't got any planning consent
0:04:58 > 0:05:02for a separate dwelling. It was always attached to the main house.
0:05:02 > 0:05:05The situation now is that planning consent has been granted for it
0:05:05 > 0:05:09to be properly converted into a separate dwelling.
0:05:09 > 0:05:12In a sense, it's a sort of mews-type cottage,
0:05:12 > 0:05:15and it's got its own charm and appeal, I think.
0:05:15 > 0:05:17You can see that, if you didn't do your homework,
0:05:17 > 0:05:20you might come unstuck with issues like these.
0:05:20 > 0:05:24So, research, research, and just one other thing...
0:05:24 > 0:05:27research. However, this house really is charming
0:05:27 > 0:05:31and I definitely think worth any amount of work.
0:05:31 > 0:05:35What does the auctioneer think about using the outhouses to expand?
0:05:35 > 0:05:38If you renovate what's here, you actually don't have to spend
0:05:38 > 0:05:40very much, because a lot of it's already been done.
0:05:40 > 0:05:43You may have to renew some of it.
0:05:43 > 0:05:46You'd find difficulty in spending more than about £15,000.
0:05:46 > 0:05:50If you start renovating the outbuildings that are attached,
0:05:50 > 0:05:55you could be talking in terms of an additional spend of 25,000, easily.
0:05:56 > 0:06:00So, get it near the guide price and it could cost £100,000
0:06:00 > 0:06:07to have it as is, or 125,000-plus for an extended property.
0:06:07 > 0:06:11Which option will make you pots of money?
0:06:11 > 0:06:15I would say that, if you did this up, made a nice job out of it -
0:06:15 > 0:06:18sort of little, bijou cottagey type residence -
0:06:18 > 0:06:25it would have a market value, probably, of about £165-175,000.
0:06:25 > 0:06:27If you were to extend it into the outbuildings,
0:06:27 > 0:06:31or configure that somehow to enlarge the accommodation,
0:06:31 > 0:06:35I think you would probably push the value here up to about £200,000.
0:06:35 > 0:06:38Beyond that, I think it's becoming a bit optimistic.
0:06:38 > 0:06:42Optimistic, yes, but I'm a glass-half-full kind of guy,
0:06:42 > 0:06:45particularly in Burton upon Trent.
0:06:45 > 0:06:49The auctioneer thought rentals would be around £500 per calendar month
0:06:49 > 0:06:50for the smaller version,
0:06:50 > 0:06:54with only a £75 a month uplift for expanding the property.
0:06:56 > 0:06:59Well, this is definitely one of those houses that you walk up to
0:06:59 > 0:07:02and go, "I don't really care what it looks like inside.
0:07:02 > 0:07:05"I can see its potential."
0:07:05 > 0:07:09Let's see who could as well, when it went under the hammer.
0:07:09 > 0:07:12So, lot 19 - where do you want to be with this one?
0:07:12 > 0:07:15£85,000 to start me on the guide price.
0:07:15 > 0:07:1782,000 for it?
0:07:17 > 0:07:2082, who's got 80,000?
0:07:20 > 0:07:23He has. Thank you. £80,000, I have, to start.
0:07:23 > 0:07:2581. 81 on the far left.
0:07:25 > 0:07:28At 81... 82 is bid.
0:07:28 > 0:07:3082,000. 83.
0:07:30 > 0:07:3283, 84...
0:07:32 > 0:07:3485 now.
0:07:34 > 0:07:3586 is bid.
0:07:35 > 0:07:3787, thank you. 87.
0:07:37 > 0:07:3988 on the far left.
0:07:39 > 0:07:4188, 89...
0:07:43 > 0:07:4588 away, 89...
0:07:46 > 0:07:4888,500...
0:07:48 > 0:07:50At 88,500, 89...
0:07:50 > 0:07:5289 is bid, thank you.
0:07:52 > 0:07:5489,500.
0:07:54 > 0:07:5889,500. £89,500.
0:07:58 > 0:07:5990? £90,000.
0:07:59 > 0:08:01It's going to go, ladies and gentlemen.
0:08:01 > 0:08:03Either of you at 90,500?
0:08:03 > 0:08:06£90,000, then, for the first time.
0:08:06 > 0:08:09For the second time. Third opportunity...
0:08:09 > 0:08:10It's going...
0:08:10 > 0:08:12It's gone.
0:08:12 > 0:08:15A fist bump of joy from Michelle, with that £90,000 bid
0:08:15 > 0:08:17securing the property.
0:08:17 > 0:08:19We've seen her on the show before.
0:08:19 > 0:08:22In August, 2014, she met Lucy
0:08:22 > 0:08:25when she was renovating a one-bedroom flat
0:08:25 > 0:08:27also in Burton upon Trent.
0:08:27 > 0:08:30And, she explained, she has the skill set
0:08:30 > 0:08:33to make property development work for her.
0:08:33 > 0:08:35I was a project manager, and project management skills
0:08:35 > 0:08:39are the same in a property, so I thought I could make it...
0:08:39 > 0:08:40Make some more money out of it.
0:08:40 > 0:08:43And you're thorough, you're on it - clipboard lady!
0:08:43 > 0:08:45That's it. I've been walking round with a plan.
0:08:45 > 0:08:48"Do it faster, come on. Quicker."
0:08:48 > 0:08:51Now, it seems, she's got a far more challenging redevelopment
0:08:51 > 0:08:55on her hands, so I was keen to know what she planned.
0:08:55 > 0:08:59- Michelle, good to see you again. - Nice to see you.
0:08:59 > 0:09:02So, how was the project that we talked to you about last time?
0:09:02 > 0:09:05- Yes, it went well.- Yeah?- Yes, it was just a one-bedroom flat,
0:09:05 > 0:09:09so something easy to start on. But, yeah, it went well.
0:09:09 > 0:09:11So why this place, then?
0:09:11 > 0:09:13I wanted something a bit more of a challenge,
0:09:13 > 0:09:17and I wanted something to do a bit more of the development side of it.
0:09:17 > 0:09:20So this involves a lot more things like the planning and...
0:09:20 > 0:09:22more development work.
0:09:22 > 0:09:25- This is the fourth one now. - Wow!- So, since I met Lucy,
0:09:25 > 0:09:27I've done another one in between.
0:09:27 > 0:09:32That's a couple of weeks away, ready for rental, and now onto this one.
0:09:32 > 0:09:35Right. So what was it about this place that sort of
0:09:35 > 0:09:40- got your attention?- I think it's a lovely area, and I wanted something
0:09:40 > 0:09:42that was... I live in a barn at the moment,
0:09:42 > 0:09:45and I wanted something to get the cottagey barn-y feel.
0:09:45 > 0:09:48- So, potentially, that's what I wanted it for.- Right.
0:09:48 > 0:09:50And to develop it, potentially, for my father.
0:09:50 > 0:09:52- Oh, OK. What, for him to live in? - Yes.- Oh, wow.
0:09:52 > 0:09:54Well, that would be good.
0:09:54 > 0:09:57So let's find out what you're going to do to it.
0:09:57 > 0:10:01Right, well, as you can see, there's quite a bit of work to do to it.
0:10:01 > 0:10:04At the moment, in the house we've got a few issues -
0:10:04 > 0:10:07we've had eight water leaks so far, so...
0:10:07 > 0:10:10We have no water, still, and I think, at the end of the day now,
0:10:10 > 0:10:13- we'll have to replumb. - Often the cheapest way of doing it.
0:10:13 > 0:10:16- After eight leaks...- Yeah.- It's a case of it's just going to keep
0:10:16 > 0:10:20moving and moving and moving so, that's it, now - replumb it.
0:10:20 > 0:10:25So, electrics, central heating. Obviously, in here needs...
0:10:25 > 0:10:31Building up to building regs, new roof, new windows, new covering...
0:10:33 > 0:10:36So, a lot to be done to the main house before it's ready
0:10:36 > 0:10:38for Michelle's dad to move into.
0:10:38 > 0:10:42But I'm intrigued with her plans for the outhouses.
0:10:42 > 0:10:44So, basically, as you come in the front door there's a toilet,
0:10:44 > 0:10:47and then, if you stand diagonal to the toilet,
0:10:47 > 0:10:50- that is going to be a doorway, there.- OK.- And that's going to come
0:10:50 > 0:10:54- through there, and knock through into this room as well.- OK.
0:10:54 > 0:10:57- And this will then become what? - This will be the lounge.- Oh, wow.
0:10:57 > 0:10:59- And next door will be the study. - Keeping the height?
0:10:59 > 0:11:04- Yes, we'll keep the height...- Oh... - And full glass at the front.- Wow.
0:11:04 > 0:11:07That's going to be a real gobsmacking kind of...
0:11:07 > 0:11:09And then where the kitchen and lounge are at the moment,
0:11:09 > 0:11:13- that's going to be knocked through to be a kitchen/diner.- OK.
0:11:13 > 0:11:16You mentioned that it might be for your dad?
0:11:16 > 0:11:18- Yes.- Have you asked him what he'd like?- No.
0:11:18 > 0:11:20THEY LAUGH
0:11:20 > 0:11:23He just does as he is told.
0:11:23 > 0:11:26It sounds like you're creating somewhere that's going to be
0:11:26 > 0:11:29- quite spectacular.- Yes. It should be, it should look really good.
0:11:29 > 0:11:32I want it to look similar to what mine looks like, and it's got
0:11:32 > 0:11:34exposed brick and things like that in mine,
0:11:34 > 0:11:36- so that's what I wanted. - Right.
0:11:36 > 0:11:38Wow. Huge, ambitious plans from Michelle.
0:11:38 > 0:11:42And I love that she's going to be incorporating glass and the existing
0:11:42 > 0:11:47brick to create a real fusion of modern and traditional.
0:11:48 > 0:11:51It should be pretty spectacular,
0:11:51 > 0:11:54but there is that element of planning permission to consider.
0:11:58 > 0:12:01- What's the timescale? - Six months...
0:12:01 > 0:12:05- But can vary because of planning. - Right.
0:12:05 > 0:12:09So, that's the aim, but we know, with all the shows that you see,
0:12:09 > 0:12:12whenever planning get involved, it will go to a year.
0:12:12 > 0:12:14Six months is what I'm trying for.
0:12:14 > 0:12:16I've already engaged with the planner, and I've got the architect
0:12:16 > 0:12:20- coming tomorrow, to get the plans ready to go to the planner.- Right.
0:12:20 > 0:12:24- And it's sort of a modification of previous planning...- Oh, OK.
0:12:24 > 0:12:27So I'm hoping, although it is separate planning,
0:12:27 > 0:12:28it's not changing too much.
0:12:28 > 0:12:31Do you have a budget for what you're planning?
0:12:31 > 0:12:33I'm saying 30,000 at the moment,
0:12:33 > 0:12:36but I've not had the prices in for the roof.
0:12:36 > 0:12:39So you've gone from a flat, through a few other little things, to this.
0:12:39 > 0:12:41- Yes.- What's next?
0:12:41 > 0:12:43Don't know. We'll wait and see.
0:12:43 > 0:12:46The last one I had was a three-bedroomed semi,
0:12:46 > 0:12:49so I progressed into that.
0:12:49 > 0:12:51And have you basically bought to sell?
0:12:51 > 0:12:53Is that what you've been doing so far?
0:12:53 > 0:12:56- Bought to rent...- OK.- ..in the short-term, sell in the long-term.
0:12:56 > 0:12:58Been making you some money?
0:12:58 > 0:13:02Not at the moment, but I'm hoping it will do soon.
0:13:02 > 0:13:05It just seems to be outlay at the moment but, hopefully,
0:13:05 > 0:13:07they'll soon start turning the cash round.
0:13:07 > 0:13:10Well, congratulations, and we look forward to seeing how you get on.
0:13:10 > 0:13:12Thank you very much.
0:13:12 > 0:13:17So, Michelle gradually building up her property developing knowledge
0:13:17 > 0:13:20with this place. A few challenges ahead, for sure,
0:13:20 > 0:13:23and I'm sure she's going to learn a lot.
0:13:23 > 0:13:27Buildings like this are never quite as straightforward as they seem.
0:13:27 > 0:13:30You can find out how she gets on later in the show.
0:13:35 > 0:13:38Crystal Palace in south-east London.
0:13:38 > 0:13:40Home to the Eagles - that's the football team -
0:13:40 > 0:13:43it's also home to some soaring property prices,
0:13:43 > 0:13:48with the average selling price rising by 16% in the last two years.
0:13:48 > 0:13:52I'm headed to today's property on a beautiful tree-lined street.
0:13:53 > 0:13:56No surprises, really, that it's one of the most desirable streets
0:13:56 > 0:14:01in the area. And it also has something that can never be taken
0:14:01 > 0:14:06for granted in London - unrestricted on-street parking.
0:14:06 > 0:14:08Now, I'm here to see a two-bed flat.
0:14:08 > 0:14:11It had a guide price of £330,000,
0:14:11 > 0:14:13and it's on the raised ground floor
0:14:13 > 0:14:17of this really lovely Victorian building here.
0:14:17 > 0:14:20So far, so good. Quite excited!
0:14:20 > 0:14:25There's even more good news, with 121 years left on the lease.
0:14:25 > 0:14:29The service charges did make me do a bit of a double take, though.
0:14:29 > 0:14:35It's a whopping £1,200 a year, with a ground rent of £250 on top.
0:14:35 > 0:14:38But look at the communal areas - sparkling.
0:14:38 > 0:14:40Pristine does come at a price.
0:14:42 > 0:14:45So, will I still be as positive about this flat
0:14:45 > 0:14:47when I actually see it on the inside?
0:14:47 > 0:14:49First impressions - a bit peachy.
0:14:49 > 0:14:51Might have to change the paint colour.
0:14:51 > 0:14:55Got a bathroom through there which is quite spacious, actually.
0:14:55 > 0:14:59Oh! A Chelsea-blue bedroom. My son would love that.
0:14:59 > 0:15:02But that's a fantastic space, it really is.
0:15:02 > 0:15:07The kitchen, again, incredibly dated, but what a fabulous space -
0:15:07 > 0:15:11really big. Again, a stunning lounge area, look at that.
0:15:11 > 0:15:13Sliding sash windows everywhere.
0:15:13 > 0:15:18Lots of lovely high ceilings and, again, another marvellous room.
0:15:18 > 0:15:20Wow, it's incredible.
0:15:20 > 0:15:23I think what I love about this property is the grandeur,
0:15:23 > 0:15:26and the reason I say that is because you've got this incredible view -
0:15:26 > 0:15:31these stunning floor to ceiling windows looking out onto the garden.
0:15:31 > 0:15:34Now, I have seen better gardens than that.
0:15:34 > 0:15:36It needs a bit of a manicure, I'd say.
0:15:36 > 0:15:39This really is my kind of flat. I love it.
0:15:39 > 0:15:41# I love it... #
0:15:41 > 0:15:44Now, here comes the ideas train.
0:15:44 > 0:15:47First stop - you could take this wall out and open it up
0:15:47 > 0:15:52into the kitchen. That would create a lovely big open-plan space.
0:15:52 > 0:15:55The next stop - a very big idea.
0:15:56 > 0:16:00OK, bear with me while I have a bit of a mad five minutes, because
0:16:00 > 0:16:03an idea has just struck in my mind that I want to share with you.
0:16:03 > 0:16:05The bathroom, it's quite spacious.
0:16:05 > 0:16:07Bit of a luxury to have a bathroom that big,
0:16:07 > 0:16:10especially when you see this...
0:16:10 > 0:16:14Quite a nice big cupboard. OK, you might be thinking, "Yeah, so what?"
0:16:14 > 0:16:17Well, then have a look at this. In here...
0:16:19 > 0:16:21A huge, huge luxury of a space.
0:16:21 > 0:16:25So I'm thinking could this and that cupboard all be sort of knocked
0:16:25 > 0:16:30and formed into one rather spacious bathroom?
0:16:30 > 0:16:33Could we move that bathroom and put it in here,
0:16:33 > 0:16:36so next door becomes the lounge area?
0:16:36 > 0:16:38This could become the bedroom.
0:16:38 > 0:16:41You could have access into the bathroom through this door here,
0:16:41 > 0:16:45and then the bathroom becomes... a bedroom.
0:16:45 > 0:16:50It will add more value, and it will make it so much more rentable.
0:16:50 > 0:16:52Now, it is a big change,
0:16:52 > 0:16:56and you will need to ask the freeholder's permission.
0:16:56 > 0:16:59You might also want to ask their permission to change the windows
0:16:59 > 0:17:02which, while quite beautiful, are single glazed
0:17:02 > 0:17:05and starting to show some signs of rot.
0:17:05 > 0:17:09But, even with the freeholder's permission to make these changes,
0:17:09 > 0:17:11there's another restriction.
0:17:11 > 0:17:14The property is in a conservation area,
0:17:14 > 0:17:18which means there'll be extra rules to adhere to.
0:17:18 > 0:17:21Now, conservation areas are designated to preserve
0:17:21 > 0:17:25the appearance of an area and, along this road where the emphasis
0:17:25 > 0:17:29is on maintaining the character of the gorgeous Victorian villas,
0:17:29 > 0:17:33and any new windows that are put in will, I'm sure,
0:17:33 > 0:17:36need to be replicas of the beautiful originals.
0:17:36 > 0:17:39And they won't come cheap.
0:17:39 > 0:17:42So, is it worth getting your cheque-book out for this flat,
0:17:42 > 0:17:44guided at £330,000?
0:17:46 > 0:17:49We asked along a local property expert, to tell us what he thinks
0:17:49 > 0:17:51of the property.
0:17:51 > 0:17:55Reconfiguring the property to add an extra bedroom can work,
0:17:55 > 0:18:00but what I would say is that it must be done such that the balance
0:18:00 > 0:18:02of the property is kept right.
0:18:02 > 0:18:05Assuming you could make the balance work,
0:18:05 > 0:18:08what could this flat do for your bank balance?
0:18:08 > 0:18:11First, in its current configuration?
0:18:11 > 0:18:14For selling purposes, we would put this property on the market
0:18:14 > 0:18:16at around £475,000
0:18:16 > 0:18:20and on the rental market we would put the property on the market
0:18:20 > 0:18:24for £1,400-£1,500 per calendar month.
0:18:24 > 0:18:28For selling purposes, we would market this property at £515,000
0:18:28 > 0:18:29as a three-bedroom,
0:18:29 > 0:18:34and on the rental market, £1,800 per calendar month.
0:18:37 > 0:18:41No, the current decor in this flat definitely doesn't do it justice,
0:18:41 > 0:18:44but with a bit of a face-lift and a reshuffle,
0:18:44 > 0:18:46I think it could be a really lovely home for someone.
0:18:46 > 0:18:50So, who was able to see past the peach and blue walls,
0:18:50 > 0:18:52to what this property really could become?
0:18:52 > 0:18:55Let's head to auction and find out.
0:18:58 > 0:19:01Lots of interest, then, in lot four, ladies and gentlemen.
0:19:01 > 0:19:04I'll start on the proxy, I think, at 330, so...
0:19:05 > 0:19:08Bid's with me on the catalogue at 330,000.
0:19:08 > 0:19:10Is that it? Thank you, sir.
0:19:10 > 0:19:12335, thank you. I can go 340.
0:19:12 > 0:19:1445?
0:19:14 > 0:19:16345. I can go 350.
0:19:16 > 0:19:1755?
0:19:17 > 0:19:18Yeah, 355.
0:19:18 > 0:19:20I can go 360, 365?
0:19:20 > 0:19:22365. I can go 370...
0:19:22 > 0:19:2375...
0:19:23 > 0:19:26375. I can go 380, 85...
0:19:26 > 0:19:29Wonderful, thank you. You've outbid the proxy.
0:19:29 > 0:19:31385 on the phone, then. Let's see.
0:19:31 > 0:19:34First time at 385. Second time at 385.
0:19:34 > 0:19:35390, lady there in the blue.
0:19:35 > 0:19:3795, on the phone, please?
0:19:39 > 0:19:42No? Lady there in the blue, left of the aisle, 390,000.
0:19:42 > 0:19:43First time.
0:19:43 > 0:19:45Second time.
0:19:45 > 0:19:48Third and final time at 390,000, ladies and gentlemen...
0:19:48 > 0:19:50HAMMER BANGS
0:19:51 > 0:19:55Making a quick exit after their £390,000 purchase price
0:19:55 > 0:19:58are Mike and Barbara.
0:19:58 > 0:20:00Mike is a former carpenter,
0:20:00 > 0:20:03who has recently gone into property management,
0:20:03 > 0:20:07while Barbara is an environmental engineer with Westminster Council.
0:20:07 > 0:20:09But what kind of transformation
0:20:09 > 0:20:11were they planning to engineer in this flat?
0:20:13 > 0:20:16Barbara and Mike, lovely to meet you today.
0:20:16 > 0:20:19How much did you want to buy this at auction?
0:20:19 > 0:20:21We actually came and were not sure
0:20:21 > 0:20:25because we had just accepted an offer on another place, so...
0:20:25 > 0:20:29we thought, actually, because we loved the place, we really...
0:20:29 > 0:20:32"Have a look." And we thought it's going for much more than we...
0:20:32 > 0:20:34- than we actually, in the end, bought it.- Yeah.
0:20:34 > 0:20:35So, hold on a minute.
0:20:35 > 0:20:39- So you'd already put an offer in on another property...- The day before.
0:20:39 > 0:20:41..the day before the auction,
0:20:41 > 0:20:43and you went to the auction just to be a bit nosy, really.
0:20:43 > 0:20:45- Yeah. Exactly. - We'd seen this place, we liked it,
0:20:45 > 0:20:47but the other place came through first.
0:20:47 > 0:20:49So you put the offer in, you got accepted,
0:20:49 > 0:20:51and then you went along to the auction
0:20:51 > 0:20:53- like two naughty little children... - Just to see.
0:20:53 > 0:20:56- And then you couldn't resist, could you?- Exactly.
0:20:56 > 0:21:00It's so funny cos we had a limit in our minds of 390,000,
0:21:00 > 0:21:04and the auction went up to 385 and stopped.
0:21:04 > 0:21:07We just thought we'd just watch, and I turned to Barbara and said,
0:21:07 > 0:21:09"Our limit's 390, what do you think?"
0:21:09 > 0:21:10And she just looked at me,
0:21:10 > 0:21:12- and then put her hand up. - THEY LAUGH
0:21:12 > 0:21:14- Really?!- Yes.
0:21:14 > 0:21:17- You didn't even say, "Yes, I'm going to do it"? You just did it?- Yeah.
0:21:17 > 0:21:18I love that!
0:21:18 > 0:21:20I really do love that,
0:21:20 > 0:21:23but I won't love it if they have not done their research.
0:21:24 > 0:21:25We had twice looked at it -
0:21:25 > 0:21:29he was once going on his own, then I looked at it as well.
0:21:29 > 0:21:32So we have seen it before, and we really loved it
0:21:32 > 0:21:35because it's such a spacious, spacious place,
0:21:35 > 0:21:36and it's really, really nice.
0:21:36 > 0:21:39And we love the light of it...
0:21:39 > 0:21:42And we just love the location around here. It's a very good location.
0:21:42 > 0:21:45We just moved into the area, and we really like it a lot,
0:21:45 > 0:21:49and we think, basically, Crystal Palace has yet to be discovered.
0:21:49 > 0:21:53I think the housing stock around here is extraordinary.
0:21:53 > 0:21:57You've got beautiful, big, grand villas, lovely roads...
0:21:57 > 0:21:58You know, I've got loads of ideas
0:21:58 > 0:22:00with what I would want to do to this property.
0:22:00 > 0:22:04- What are you guys going to do to really bring its charm out?- Mm.
0:22:05 > 0:22:08- You going? - Well, you know, we do have a budget,
0:22:08 > 0:22:09so that limits what we can do.
0:22:09 > 0:22:12- Right, let's start with that, then. - OK.- So, how much?
0:22:12 > 0:22:16- We think 22,000 is a budget for this place.- 22,000? I like that.
0:22:16 > 0:22:18- So, you put the two on there.- Yes.
0:22:18 > 0:22:21So how are you going to spend that money?
0:22:21 > 0:22:25We're going to completely redo the kitchen and the bathroom,
0:22:25 > 0:22:30redecorate everywhere, probably, and the floor needs to be attended.
0:22:30 > 0:22:31Beyond that, we're not sure.
0:22:31 > 0:22:34We still need to walk in here and, actually, really, think,
0:22:34 > 0:22:36"Is there more we want to do to it?"
0:22:37 > 0:22:42Now, I did mention I had some cheeky ideas I've been mulling over -
0:22:42 > 0:22:45taking out that wall between the kitchen and this room.
0:22:45 > 0:22:47But, first, what do they think about moving that bathroom
0:22:47 > 0:22:50to create bedroom number three?
0:22:51 > 0:22:53Well, we can't afford it right now, to go that route,
0:22:53 > 0:22:57but I think it could be something in the future that we would go to.
0:22:57 > 0:23:00We have more finances coming at some point,
0:23:00 > 0:23:02so that would be definitely a future option.
0:23:02 > 0:23:06To make us a radically beautiful flat, and...
0:23:06 > 0:23:08I completely hear what you're saying.
0:23:08 > 0:23:10You really do have to work within your budget,
0:23:10 > 0:23:13but - here's the big "but" - don't you think,
0:23:13 > 0:23:15by taking that wall out, there,
0:23:15 > 0:23:18- it would change this flat so dramatically?- It would.
0:23:18 > 0:23:22- Mm.- You know, we're not talking massive extra expense.
0:23:22 > 0:23:24I don't know, structurally, what that would take in terms of...
0:23:24 > 0:23:27- We need to get a surveyor to have a look at that.- That's my worry...
0:23:27 > 0:23:30That you might need to, structurally... I have, I-I do...
0:23:30 > 0:23:32I'm not sure if it is a supporting wall,
0:23:32 > 0:23:34but that's what you'd need, to get a structural engineer in,
0:23:34 > 0:23:36- to have a look at that.- Exactly.
0:23:36 > 0:23:39- But that's an amazing option, yeah. - It's a great idea.
0:23:39 > 0:23:41- There's no question. - Are you going to follow that up?
0:23:41 > 0:23:44- Just tell me you might follow that up.- We will check it out.
0:23:44 > 0:23:46So are your plans to rent this out?
0:23:46 > 0:23:48- You're obviously not going to live in it.- We are torn.
0:23:48 > 0:23:52We think about it on a long-term, maybe moving in here,
0:23:52 > 0:23:55- but our first plan is really to rent it out, so...- Yeah.
0:23:55 > 0:23:58I think, if we did what you just said, it would be very tempting.
0:23:58 > 0:24:00When you said the transformations we could make to it,
0:24:00 > 0:24:03which we hadn't thought of, obviously, before...
0:24:03 > 0:24:05I mean, it is becoming very attractive, but...
0:24:05 > 0:24:09It means a lot more work, so there are things to consider there.
0:24:09 > 0:24:11# Once again
0:24:11 > 0:24:13# She's a fast persuader
0:24:13 > 0:24:15# Out of space... #
0:24:16 > 0:24:19Call me Lucy "The Persuader" Alexander.
0:24:20 > 0:24:24But have I convinced Mike and Barbara to make these big changes?
0:24:24 > 0:24:26They certainly seem sold on them,
0:24:26 > 0:24:29but they already plan to use a portion of their budget
0:24:29 > 0:24:33to try and change the windows and, even with Mike's carpentry skills,
0:24:33 > 0:24:36the cost of the building work for major alterations in the flat
0:24:36 > 0:24:38just might be too much for them.
0:24:41 > 0:24:44So, £22,000 budget - what's your timescale?
0:24:44 > 0:24:46I think two and a half months, three months maximum.
0:24:46 > 0:24:48So who's going to be doing the work?
0:24:48 > 0:24:51I'll be managing it, and doing some, and...
0:24:51 > 0:24:55a crew in to do it, you know, plumbers and electricians I know.
0:24:55 > 0:24:56And Barbara?
0:24:56 > 0:24:59I'm helping, actually, when I'm not working.
0:24:59 > 0:25:00SHE LAUGHS
0:25:00 > 0:25:03So I'm coming, actually, Fridays, because I have Fridays off,
0:25:03 > 0:25:04and chipping in.
0:25:04 > 0:25:07Guys, it's been lovely meeting you both today,
0:25:07 > 0:25:09and I think you've got a gem of a property,
0:25:09 > 0:25:11and I'm really, really looking forward to seeing
0:25:11 > 0:25:13if you actually do use ANY of my ideas...
0:25:13 > 0:25:16- BARBARA LAUGHS - ..and what you do to the property.
0:25:16 > 0:25:19- Fantastic.- Yeah.- Congratulations. - Thank you.- Thank you.- Barbara.
0:25:19 > 0:25:20- Mike, lovely.- Thank you.
0:25:22 > 0:25:27So how far will Barbara and Mike decide to take the renovations?
0:25:27 > 0:25:29Will they change the windows?
0:25:29 > 0:25:31Will they change the layout?
0:25:31 > 0:25:33And could they end up living here?
0:25:33 > 0:25:35I certainly can't wait to find out.
0:25:35 > 0:25:39Join me later on in the programme, and you can too.
0:25:41 > 0:25:43DION: Coming up, green is the theme with the decor
0:25:43 > 0:25:46in this bungalow in Mossley, Tameside.
0:25:46 > 0:25:50Nice lime green colour. Green curtains as well.
0:25:52 > 0:25:56And a renovation to make you green with envy in Crystal Palace, London.
0:25:57 > 0:26:00It's fabulous. We really love it.
0:26:06 > 0:26:09Time to return to East Staffordshire's Burton upon Trent,
0:26:09 > 0:26:14and this charming cottage with a guide price of 85,000.
0:26:14 > 0:26:18I didn't like the layout inside, but outside held, potentially,
0:26:18 > 0:26:21some very exciting possibilities.
0:26:21 > 0:26:24The outbuildings were just screaming -
0:26:24 > 0:26:26in a gentle, cottagey way, of course -
0:26:26 > 0:26:29to be incorporated into the main house.
0:26:29 > 0:26:31If you did something with this,
0:26:31 > 0:26:35you would double the size of the house, so this is great news.
0:26:37 > 0:26:38Michelle wanted it
0:26:38 > 0:26:43and dared to dream big at her new £90,000 purchase.
0:26:43 > 0:26:45She had a £30,000 budget
0:26:45 > 0:26:50and a six-month timescale for some ambitious plans.
0:26:50 > 0:26:52There's quite a bit of work to do to it.
0:26:52 > 0:26:55So, basically, as you come in the front door, there's a toilet
0:26:55 > 0:26:57and then, if you stand diagonal to the toilet,
0:26:57 > 0:26:59- that is going to be a doorway there...- Oh, OK.
0:26:59 > 0:27:01..and that's going to come through there,
0:27:01 > 0:27:04- and then knock through into this room as well.- OK.
0:27:04 > 0:27:06- Keeping the height? - Yes, we'll keep the height...- Oh...
0:27:06 > 0:27:08- And full glass at the front. - Oh, wow.
0:27:08 > 0:27:11And then, where the kitchen and the lounge are at the moment,
0:27:11 > 0:27:15that's going to be knocked through to be a kitchen-diner.
0:27:15 > 0:27:17Seven months on, and I'm very excited to see
0:27:17 > 0:27:22if Michelle has brought a modern feel to this characterful cottage.
0:27:22 > 0:27:23Let's have a look.
0:27:24 > 0:27:29MUSIC: Paradise by Coldplay
0:27:31 > 0:27:32Oh, wow.
0:27:32 > 0:27:35She promised something special, and this is that.
0:27:37 > 0:27:40What were disused outhouses are now in-house,
0:27:40 > 0:27:44and comprise a beautiful lounge and a study-cum-bedroom.
0:27:47 > 0:27:51And being able to step out of glass doors to a landscaped garden
0:27:51 > 0:27:53is sensational.
0:27:53 > 0:27:58# And dreamed of para-para-paradise... #
0:27:58 > 0:28:01It's just about double the square footage of the house,
0:28:01 > 0:28:05and means less of a boxy layout downstairs,
0:28:05 > 0:28:08but Michelle has gone further to improve the layout.
0:28:10 > 0:28:13She has, as promised, created a kitchen-diner,
0:28:13 > 0:28:15by knocking down the wall between the two.
0:28:15 > 0:28:16I love it.
0:28:16 > 0:28:19It makes the whole layout feel less cramped,
0:28:19 > 0:28:20and the finish is excellent.
0:28:24 > 0:28:26She's continued opening up the downstairs space
0:28:26 > 0:28:30by moving the toilet back, close to the front door,
0:28:30 > 0:28:33allowing for the passageway to the lounge and study.
0:28:35 > 0:28:40Upstairs, the two bedrooms are more modern and have new windows,
0:28:40 > 0:28:41and the upstairs bathroom
0:28:41 > 0:28:44is certainly more suitable for modern living.
0:28:50 > 0:28:52A brilliant transformation,
0:28:52 > 0:28:56and one that hasn't compromised the original qualities of the house.
0:28:56 > 0:28:58But Michelle wanted a challenge
0:28:58 > 0:29:01as she moved up the property redevelopment ladder,
0:29:01 > 0:29:03and she certainly got it with this one.
0:29:04 > 0:29:07This project was much more challenging than previous ones.
0:29:07 > 0:29:10I had to learn a lot more things that I've not done before,
0:29:10 > 0:29:12like building regs, planning permission...
0:29:12 > 0:29:15I had some issues that were in the contract as well,
0:29:15 > 0:29:19that had to be cleared, such as my water supply.
0:29:19 > 0:29:22Although it had originally got some form of planning permission on it,
0:29:22 > 0:29:24it wasn't to use the two outbuildings.
0:29:24 > 0:29:27So I wanted to use that as proper space,
0:29:27 > 0:29:29so I applied for my own planning permission.
0:29:29 > 0:29:31There was a few objections.
0:29:31 > 0:29:34I had to interface with the planners and there were some conditions,
0:29:34 > 0:29:37but I managed to get what I wanted through in the end.
0:29:38 > 0:29:42Waiting for planning added one month to her six-month timescale,
0:29:42 > 0:29:45but has the high-spec finish added to her budget?
0:29:46 > 0:29:50Originally, I was hoping to spend around £30,000,
0:29:50 > 0:29:53but I hadn't had the quotes in for the roof and things like that,
0:29:53 > 0:29:57and also, I didn't realise, because it wasn't a dwelling, previously,
0:29:57 > 0:29:59I've had to apply to modern regulations,
0:29:59 > 0:30:02so all external walls had to be backed down to the brick,
0:30:02 > 0:30:05and that was an extra cost I'd not envisaged.
0:30:05 > 0:30:08In the end, I've decided to go for full planning,
0:30:08 > 0:30:10so I've gone for a higher spec,
0:30:10 > 0:30:13and it's probably coming out nearer to 60.
0:30:14 > 0:30:18And that £30,000 overspend has made her change from the original plan
0:30:18 > 0:30:20of letting her dad live here.
0:30:21 > 0:30:23Because I've spent so much on the property,
0:30:23 > 0:30:28I'm probably going to mortgage it and rent it in the short-term,
0:30:28 > 0:30:30but longer term I will look to sell it.
0:30:30 > 0:30:33So, now the project is finished, I think it looks amazing.
0:30:33 > 0:30:36It's been lots of hard work in the last few weeks,
0:30:36 > 0:30:38getting to this stage and, even at the weekend,
0:30:38 > 0:30:41my friend came and said, "There's no way you're going to be ready."
0:30:41 > 0:30:44But here we go - this is what it is now.
0:30:46 > 0:30:49And what it is now is a property ready for valuation,
0:30:49 > 0:30:51which is where two local property experts come in,
0:30:51 > 0:30:53including the agent who saw it
0:30:53 > 0:30:56before Michelle and her team got stuck in.
0:30:59 > 0:31:01I love coming back to a place
0:31:01 > 0:31:03which has got loads and loads of potential,
0:31:03 > 0:31:05and you're amazed at the transformation.
0:31:05 > 0:31:07This is one of those.
0:31:07 > 0:31:09Obviously the buyer had a lot of imagination
0:31:09 > 0:31:11as to what you could make out of it,
0:31:11 > 0:31:13but they've been bold and they've been brave,
0:31:13 > 0:31:15and I think they've achieved a wonderful job.
0:31:15 > 0:31:18My initial reaction to the property when I entered, I thought,
0:31:18 > 0:31:19"This is, this is great.
0:31:19 > 0:31:22"This is a fantastic house for what they've done."
0:31:22 > 0:31:24Looking at what it was some time ago,
0:31:24 > 0:31:25at auction earlier on this year,
0:31:25 > 0:31:28they've transformed the property to a really good standard.
0:31:28 > 0:31:31The layout of the property could be slightly better
0:31:31 > 0:31:33but, however, they've had to use what they're left with.
0:31:33 > 0:31:35Nowadays, with a three-bedroom property,
0:31:35 > 0:31:37a dining room is not always necessary,
0:31:37 > 0:31:39so they could have had a lounge, a kitchen,
0:31:39 > 0:31:41a master bedroom with an en-suite.
0:31:42 > 0:31:45Michelle's total spend is 150,000.
0:31:45 > 0:31:47In the short term, she plans to rent,
0:31:47 > 0:31:49so what does she stand to make?
0:31:52 > 0:31:53On the rental market,
0:31:53 > 0:31:57this property would achieve £750 per calendar month.
0:31:57 > 0:32:01In terms of rental valuation, I think this would command a rent
0:32:01 > 0:32:04of between £600 and £650 a calendar month.
0:32:04 > 0:32:07Those valuations are the sort of thing I was thinking about.
0:32:07 > 0:32:11And, at that top figure, it would mean a 6% yield.
0:32:11 > 0:32:13Long-term, she plans to sell.
0:32:13 > 0:32:14But what if she sold now?
0:32:17 > 0:32:18I think, with a property like this,
0:32:18 > 0:32:21it's impossible to be specific about what it's worth.
0:32:21 > 0:32:23It's not going to suit everybody
0:32:23 > 0:32:26but it will suit somebody who will fall in love with it.
0:32:26 > 0:32:30So I would put it on the market at offers around £215,000,
0:32:30 > 0:32:33and just see what the response is.
0:32:33 > 0:32:36If this property was to go on the market, for sale,
0:32:36 > 0:32:41I would expect it to achieve between £210,000 and £220,000.
0:32:41 > 0:32:45Yeah, that seems OK. I was hoping for a little bit higher but...
0:32:46 > 0:32:48..we'll see what happens.
0:32:48 > 0:32:50At £215,000,
0:32:50 > 0:32:56that could mean a profit of £65,000 before the usual taxes and expenses.
0:32:56 > 0:32:59Michelle wanted something to test her skills,
0:32:59 > 0:33:03and she rose to the challenge with an extensive renovation.
0:33:03 > 0:33:05Will we see her back at the auctions?
0:33:08 > 0:33:10I will definitely buy at auction again.
0:33:10 > 0:33:13I would probably buy something a little easier next time.
0:33:18 > 0:33:21DION: The Pennine hill town of Mossley
0:33:21 > 0:33:23used to be split between the historic counties
0:33:23 > 0:33:26of Lancashire, Cheshire and West Riding.
0:33:26 > 0:33:28It's now in the borough of Tameside
0:33:28 > 0:33:30and it's only nine miles from Manchester,
0:33:30 > 0:33:34which is hard to believe when you look at this countryside.
0:33:35 > 0:33:38Locally, the area around Mossley station
0:33:38 > 0:33:40and Bottoms is known as Bottom Mossley,
0:33:40 > 0:33:44while the area around the marketplace is known as Top Mossley.
0:33:44 > 0:33:45I guess I'm in for a climb.
0:33:47 > 0:33:49# To the limit, here we go
0:33:49 > 0:33:52# From the bottom to the top... #
0:33:52 > 0:33:56So, here in Top Mossley, in this really quiet cul-de-sac,
0:33:56 > 0:33:58is the property I'm here to see.
0:33:58 > 0:34:03Now, it's described as a three/four dormer bungalow
0:34:03 > 0:34:06with a guide price of £80,000 to £100,000.
0:34:06 > 0:34:10Now, it's got an amazing view of the hills,
0:34:10 > 0:34:12but it's quite a long walk to the front door.
0:34:12 > 0:34:13# Nice and easy... #
0:34:15 > 0:34:16Bungalows are very popular
0:34:16 > 0:34:19because they are usually on decent-sized plots
0:34:19 > 0:34:22and often are suited for people with mobility issues,
0:34:22 > 0:34:24but not this one.
0:34:24 > 0:34:27It's a bit of a climb to the door and it has an upper floor.
0:34:30 > 0:34:33Right, we're straight through the front door into a hallway,
0:34:33 > 0:34:37a narrow hallway, and lots of rooms off the hallway.
0:34:37 > 0:34:40That seems to me like one of the bedrooms, decent size,
0:34:40 > 0:34:42nice big window.
0:34:42 > 0:34:45That's the lounge, but I'll come back to that in a minute.
0:34:45 > 0:34:49We have got a shower room there.
0:34:49 > 0:34:51Separate toilet there as well.
0:34:51 > 0:34:55Into the second bedroom - nice lime green colour,
0:34:55 > 0:34:57green curtains as well.
0:34:57 > 0:34:59But it has got central heating.
0:34:59 > 0:35:02Unfortunately, we have polystyrene tiles, which is not good -
0:35:02 > 0:35:06huge safety hazard - but it's not a bad-sized bedroom.
0:35:06 > 0:35:08Anyway, let's go and have a look at that lounge.
0:35:08 > 0:35:12Down the hallway, we've got more polystyrene tiles.
0:35:12 > 0:35:17Really nice-sized lounge, and stairs going up to the bedrooms,
0:35:17 > 0:35:23but I'm pretty sure this would not pass current safety regulations.
0:35:23 > 0:35:25I'm shaking that, as well, and I can see that that's moving,
0:35:25 > 0:35:29and I actually thought that was metal - it's actually plastic
0:35:29 > 0:35:31and, as you can see, that's not...
0:35:31 > 0:35:34I'll put that back, as I found it.
0:35:34 > 0:35:39But the main feature in here is that huge window,
0:35:39 > 0:35:41and those amazing views.
0:35:46 > 0:35:48# Safety first... #
0:35:49 > 0:35:53Safety is the first thing you would have to address in this house.
0:35:53 > 0:35:55You'd have to remove the polystyrene tiles
0:35:55 > 0:35:57that are throughout the ground floor,
0:35:57 > 0:35:59as they can be a serious fire hazard.
0:35:59 > 0:36:02# Help! Help!
0:36:02 > 0:36:04# Danger ahead
0:36:04 > 0:36:08# Call out the fire brigade... #
0:36:10 > 0:36:13You'll also need to put a proper banister in for those stairs
0:36:13 > 0:36:16and, if anyone asks about the current banister,
0:36:16 > 0:36:18it was broken when I found it.
0:36:18 > 0:36:19It was.
0:36:19 > 0:36:20No, it really was.
0:36:20 > 0:36:22Anyway, moving on...
0:36:22 > 0:36:25The kitchen - it really needs a complete overhaul.
0:36:25 > 0:36:29Let's take a look, and see if these are the only toilet facilities.
0:36:30 > 0:36:32OK, upstairs...
0:36:32 > 0:36:36and we have got a small landing here with some wood panelling,
0:36:36 > 0:36:39more wood panelling, sort of makes it really dark on the landing.
0:36:39 > 0:36:42Into a lovely lime green bedroom,
0:36:42 > 0:36:45and these built-in wardrobes as well.
0:36:45 > 0:36:46So you can gain some space
0:36:46 > 0:36:48by getting rid of that built-in wardrobe.
0:36:48 > 0:36:52More floor space, bigger bedroom, which is what everybody wants.
0:36:52 > 0:36:55Nice big window there, letting lots of light in, which is good.
0:36:55 > 0:36:59More polystyrene tiles, which is never a good thing.
0:36:59 > 0:37:02Across the landing, to the second bedroom.
0:37:02 > 0:37:06Now, this is the dormer part of the house.
0:37:06 > 0:37:09Lots of wood again, and on the ceiling,
0:37:09 > 0:37:14but the interesting thing for me is this void space right here.
0:37:14 > 0:37:17For me, I'd definitely build a bathroom in there,
0:37:17 > 0:37:22even an en-suite to make this your master bedroom as well.
0:37:22 > 0:37:25Upstairs, all in all, there's lots and lots of options.
0:37:27 > 0:37:30Obviously, you would need to sort out some roof space in this void,
0:37:30 > 0:37:34which would cost you a few bob, but it's worth doing.
0:37:34 > 0:37:36This place totally needs to be stripped back,
0:37:36 > 0:37:38and I'd be happy to say goodbye
0:37:38 > 0:37:40to that bungalow's dominant colour scheme.
0:37:42 > 0:37:47# Just a little bit of green... #
0:37:47 > 0:37:51Outside, green is good, but the garden is really steep
0:37:51 > 0:37:55and not ideal for buyers with mobility issues or young families,
0:37:55 > 0:37:58so you're going to need to think hard about your market
0:37:58 > 0:38:01if you are redeveloping for resale.
0:38:01 > 0:38:03What does a local estate agent make of this lot,
0:38:03 > 0:38:06guided at in between £80,000 to £100,000?
0:38:06 > 0:38:08It's a great property, great size.
0:38:08 > 0:38:10It does need a full refurbishment throughout.
0:38:10 > 0:38:13I don't think you could get away with missing anything -
0:38:13 > 0:38:14it does need everything doing to it.
0:38:14 > 0:38:17The layout could possibly do with a bit of changing round
0:38:17 > 0:38:18to make it more suitable
0:38:18 > 0:38:21because, when you do add a dormer to a bungalow,
0:38:21 > 0:38:22it moves from the true bungalow
0:38:22 > 0:38:25and it doesn't really always work for a family home.
0:38:25 > 0:38:26You could do one of two things -
0:38:26 > 0:38:28either just revamp the whole property
0:38:28 > 0:38:29and leave it as it is...
0:38:29 > 0:38:31However, I would probably take the next step
0:38:31 > 0:38:33to put it into the next price bracket - knock through
0:38:33 > 0:38:36from the kitchen into the dining area, make a big living room,
0:38:36 > 0:38:39and also convert upstairs, where there's quite a large roof void.
0:38:39 > 0:38:43Make the dormer bigger and have a master suite with en-suite bathroom,
0:38:43 > 0:38:45because having a bathroom just on the ground floor
0:38:45 > 0:38:47wouldn't be suitable for a family home.
0:38:48 > 0:38:52So, some extensive work if you want to go after the family market.
0:38:52 > 0:38:54Would it be financially worthwhile?
0:38:54 > 0:38:58The way to find out is to look at sales and rental valuations.
0:38:59 > 0:39:01If we kept the property layout as it was,
0:39:01 > 0:39:04but it would undergo a programme of renovation,
0:39:04 > 0:39:07we'd be looking to market the property at £145,000.
0:39:07 > 0:39:10For a rental property of this size and renovated,
0:39:10 > 0:39:14we would be looking for £700 per calendar month.
0:39:15 > 0:39:17I actually quite like this house
0:39:17 > 0:39:20and it hasn't really thrown up any problems,
0:39:20 > 0:39:22so if you can see past that '70s decor,
0:39:22 > 0:39:24the current layout, I think you've got yourself
0:39:24 > 0:39:28quite an adaptable bungalow with amazing views,
0:39:28 > 0:39:31so let's see who wanted it when it went under the hammer.
0:39:35 > 0:39:37Lot 49, then.
0:39:37 > 0:39:40Start me. 90?
0:39:40 > 0:39:4280? I need a bid.
0:39:42 > 0:39:4470?
0:39:44 > 0:39:4670 here. At 70, I'm bid in fives.
0:39:46 > 0:39:4975, madam. 80?
0:39:49 > 0:39:5280, I've got. 85?
0:39:52 > 0:39:53Can you at 85?
0:39:53 > 0:39:5585, I'm bid. 90?
0:39:55 > 0:39:5886, 87.
0:39:58 > 0:40:0088, 89,
0:40:00 > 0:40:0290, 91,
0:40:02 > 0:40:0492, 93,
0:40:04 > 0:40:0694, 95,
0:40:06 > 0:40:0896, 97,
0:40:08 > 0:40:1198, 99, 100.
0:40:12 > 0:40:14100, I'm bid. 101?
0:40:14 > 0:40:17A shake of the head. Here at 100.
0:40:17 > 0:40:18Stop him, it's too cheap.
0:40:18 > 0:40:20First time at 100.
0:40:20 > 0:40:22Second time at 100.
0:40:22 > 0:40:25Are you sure, Madam? You don't look sure at all!
0:40:25 > 0:40:28Your husband looks sure, but you don't.
0:40:28 > 0:40:32£100,000, then, I'm selling. Are you sure?
0:40:32 > 0:40:34All done. Well done, sir!
0:40:34 > 0:40:37'That successful bid, bang on the top end guide price,
0:40:37 > 0:40:39'was made by Jason.
0:40:39 > 0:40:41'He bought the property for 100 ground
0:40:41 > 0:40:43'with his business partner Jamie.'
0:40:43 > 0:40:46They run a building company together and know the area well,
0:40:46 > 0:40:50having renovated several properties around here.
0:40:50 > 0:40:53But I wanted to know their story and what they had planned for this -
0:40:53 > 0:40:56their new 100-grand purchase.
0:40:57 > 0:41:00- Jamie, nice to meet you. - You too.- Jason.- And you.
0:41:00 > 0:41:02- Congratulations to the both of you. - Thank you.
0:41:02 > 0:41:06Let's begin right at the very start. How do you two know each other?
0:41:06 > 0:41:09Er, a bit of a long story. We'll keep it short.
0:41:09 > 0:41:11We've got plenty of time, just carry on!
0:41:11 > 0:41:14Um, I originally met Jamie a few years ago,
0:41:14 > 0:41:16when I was looking to get a new roof done on my own property.
0:41:16 > 0:41:19He did such a great job, I had other projects that needed doing up there
0:41:19 > 0:41:21and I got Jamie to do those for me.
0:41:21 > 0:41:25And he spent about 18 months on and off doing the work.
0:41:25 > 0:41:28- A bit of a longer stint than was expected, Jamie?- It certainly was.
0:41:28 > 0:41:31- It was originally only a couple of weeks.- Happy with the work?
0:41:31 > 0:41:33- Absolutely.- You sure?- Definitely.
0:41:33 > 0:41:35You can tell me later! LAUGHTER
0:41:35 > 0:41:38So tell us, what made you two go into business together?
0:41:38 > 0:41:42Originally, I ran my own business, which was an industrial safety
0:41:42 > 0:41:44equipment business, which I sold 18 months ago.
0:41:44 > 0:41:48I always had an eye of doing property and that was my plan
0:41:48 > 0:41:51and, obviously, working with Jamie made it that much easier for me.
0:41:51 > 0:41:55He's already got an established building firm, which I've joined.
0:41:55 > 0:41:58We don't just do our own properties, we run a building company
0:41:58 > 0:42:01and do customer work as well and we do these sort of in between.
0:42:03 > 0:42:05'The duo renovate properties
0:42:05 > 0:42:07'to sell on when their regular business is quiet
0:42:07 > 0:42:11'and have a team of contractors for all trades.
0:42:11 > 0:42:15'Jamie project manages, while Jason handles the finance.
0:42:15 > 0:42:19'So, what do they have planned for their eighth property together?'
0:42:19 > 0:42:22Well, all the skirting boards, wallpaper, doors -
0:42:22 > 0:42:25it'll all be ripped out. it'll have a full rewire,
0:42:25 > 0:42:28full central heating system, completely replastered,
0:42:28 > 0:42:30new skirting boards, doors, etc.
0:42:30 > 0:42:33Then it'll be painted and carpeted and finished.
0:42:33 > 0:42:36Any reconfiguration down here at all or are you keeping the same?
0:42:36 > 0:42:39Um, more or less down here will remain the same. New kitchen.
0:42:39 > 0:42:41The layout will probably change in the kitchen slightly.
0:42:41 > 0:42:43But other than that, the layout down here
0:42:43 > 0:42:45will remain more or less the same as it is.
0:42:45 > 0:42:47OK. And upstairs, Jase?
0:42:47 > 0:42:50Well, upstairs, at the moment, where the rear dormer is,
0:42:50 > 0:42:53it only goes about three quarters along the roof structure.
0:42:53 > 0:42:56We're going to put a VELUX next to that, and there's a void up there
0:42:56 > 0:43:00that will make an ideal bathroom to share between the two bedrooms.
0:43:00 > 0:43:02- Put a new entrance in onto the landing.- Oh, OK.
0:43:02 > 0:43:06- So, there'll be an entrance to that? - Yes. Yes, separate from the landing.
0:43:06 > 0:43:09Perfect. A lot of scope upstairs, cos you knock a few of the walls
0:43:09 > 0:43:12- and you think, "Could I knock through there? Through there?"- Yeah.
0:43:12 > 0:43:14- Have you thought about doing anything else upstairs?- We have.
0:43:14 > 0:43:17- It's all about the potential resale as well.- Yeah.
0:43:17 > 0:43:20There's always a ceiling limit and, around this area,
0:43:20 > 0:43:22if we start doing that, we might not get the money back.
0:43:22 > 0:43:26- What is your budget?- We're looking to spend no more than 20,000.
0:43:26 > 0:43:28That includes all the legal fees and the costs.
0:43:28 > 0:43:31We've paid 100 for the property
0:43:31 > 0:43:34and we hope the resale value's going to be around 140,000.
0:43:34 > 0:43:38Obviously, we've got the option to rent, if we don't get those numbers,
0:43:38 > 0:43:42cos it is a great rental area, there's a lot of properties...
0:43:42 > 0:43:44Properties are in demand for rentals round here.
0:43:44 > 0:43:46But the ultimate aim is to sell.
0:43:48 > 0:43:51Jason and Jamie certainly know what they are doing.
0:43:51 > 0:43:53But they have bought this property at a time
0:43:53 > 0:43:55when their regular work is picking up
0:43:55 > 0:44:00and think their usual timescale of 8-10 weeks might expand to 12 weeks.
0:44:00 > 0:44:02So, the challenge here is time management.
0:44:04 > 0:44:07So, the auction house will be seeing you two soon again, I would imagine?
0:44:07 > 0:44:09- Oh, yeah. - As long as this one goes well.
0:44:09 > 0:44:11LAUGHTER
0:44:11 > 0:44:13On that note, I wish you well.
0:44:13 > 0:44:16- Jason, good luck, then.- Thank you. - I wish you all be best.- Thank you.
0:44:16 > 0:44:18- Jamie, keep an eye on him. - I will do.- Ha-ha!
0:44:20 > 0:44:22This does feel like the perfect partnership.
0:44:22 > 0:44:25This is property number eight for Jamie and Jason
0:44:25 > 0:44:28and they do seem to have the balance just about right.
0:44:28 > 0:44:31Jason sits in the office and crunches numbers,
0:44:31 > 0:44:33and Jamie's on site project managing.
0:44:33 > 0:44:36But will it be as smooth as they want it to be
0:44:36 > 0:44:38when they start knocking walls down?
0:44:38 > 0:44:40You can find out how they get on later in the programme.
0:44:44 > 0:44:49Well, as you can see, property renovation is not an exact science.
0:44:49 > 0:44:51There are lots of different ways you could go.
0:44:51 > 0:44:53Yes, we've seen how one buyer decided to do it.
0:44:53 > 0:44:56- What about the other two? - Yeah, have they gone off piste
0:44:56 > 0:44:58or done it by the book? Let's find out.
0:44:58 > 0:45:00MUSIC: U Can't Touch This by MC Hammer
0:45:00 > 0:45:03Earlier on, I was in Crystal Palace, London,
0:45:03 > 0:45:08to see a two-bedroom flat guided at £330,000.
0:45:08 > 0:45:11And while the decor wasn't exactly PEACHY, if you know what I mean,
0:45:11 > 0:45:16it had lots of space and one feature that I really appreciated.
0:45:19 > 0:45:23These stunning floor-to-ceiling windows.
0:45:23 > 0:45:25This really is my kind of flat.
0:45:25 > 0:45:26I love it.
0:45:27 > 0:45:30So, if you fancy changing these single-glazed sashes
0:45:30 > 0:45:32for something more insulating...
0:45:32 > 0:45:33# You can't touch this... #
0:45:33 > 0:45:37..you can't touch it, because the property was in a conservation area.
0:45:37 > 0:45:38So, any changes to the exterior
0:45:38 > 0:45:42would have to replicate the Victorian look.
0:45:42 > 0:45:44# Stop! Hammer time! #
0:45:46 > 0:45:47Being unable to alter the outside
0:45:47 > 0:45:53didn't stop Mike and Barbara paying £390,000 at auction.
0:45:53 > 0:45:56I felt there were plenty of changes they could make inside,
0:45:56 > 0:45:59like putting the bathroom in this walk-in cupboard
0:45:59 > 0:46:02to allow a third bedroom in the current bathroom,
0:46:02 > 0:46:06or knocking this wall down to create a big kitchen diner.
0:46:06 > 0:46:09They loved the latter idea.
0:46:09 > 0:46:13But there was an obstacle - their 22-grand budget.
0:46:13 > 0:46:16We can't afford it right now to go that route,
0:46:16 > 0:46:19but I think it could be something in the future that we would go to.
0:46:19 > 0:46:23- But that's an amazing option, yeah. - It's a great idea. Ha-ha!
0:46:23 > 0:46:25- Are you going to follow that up? - No question.
0:46:25 > 0:46:28- Just tell me you might follow that up?- We will check it out.
0:46:28 > 0:46:31Four months on, and I'm keen to see if they've used my ideas
0:46:31 > 0:46:36and if they've decided to forego letting and moving in themselves.
0:46:38 > 0:46:42# Baby...
0:46:42 > 0:46:45# Let's keep this simple... #
0:46:47 > 0:46:50Well, the answer is they have kept it simple,
0:46:50 > 0:46:54using the current layout and improving on what was already here.
0:46:54 > 0:46:57But that wasn't necessarily through choice.
0:46:57 > 0:47:01We were very excited by your ideas of taking this wall down,
0:47:01 > 0:47:05in particular, and making it into a large kitchen-dining area,
0:47:05 > 0:47:07and we got surveyors in to look at it.
0:47:07 > 0:47:09And it was possible, it is possible.
0:47:09 > 0:47:12When we looked more deeply into getting permission
0:47:12 > 0:47:16from the freeholders, we found there was a clause,
0:47:16 > 0:47:22which said that there were no alterations to the layout possible.
0:47:22 > 0:47:24And so, it just put a dead end on that idea.
0:47:25 > 0:47:28The devil is often in the detail and it's not unusual
0:47:28 > 0:47:31for freeholders to have clauses like this.
0:47:31 > 0:47:34When it came to the windows, they could have changed those, providing
0:47:34 > 0:47:38it met conservation regulations, but they've opted not to
0:47:38 > 0:47:43and have, instead, replaced several panes like for like. Why was that?
0:47:45 > 0:47:50Basically, we were getting quotes up to 14-15,000
0:47:50 > 0:47:52just for the actual glass replacements.
0:47:52 > 0:47:54And installation costs would've been more,
0:47:54 > 0:47:56probably another 8,000, I think.
0:47:56 > 0:47:58- Yeah, it was definitely far beyond our budget.- Yeah.
0:47:58 > 0:48:02It would've been, taken all our budget, pretty much!
0:48:03 > 0:48:06With those prices for double glazing,
0:48:06 > 0:48:08they were quite wise not to change them, I think.
0:48:08 > 0:48:12But how has their 22-grand budget held up?
0:48:14 > 0:48:19We spent 27,000, so we were over budget.
0:48:19 > 0:48:23We underestimated a little bit, the work that it is.
0:48:23 > 0:48:25I think, you know, we're fine with that.
0:48:25 > 0:48:28You know, the extra bit has actually added a lot of quality.
0:48:28 > 0:48:32Basically, we've renovated the kitchens and bathrooms completely.
0:48:32 > 0:48:35We changed all the central heating system, all the plumbing's changed,
0:48:35 > 0:48:39and a lot of the electrics, too, and a complete redecoration, too.
0:48:39 > 0:48:42And getting tradespeople in has extended the timescale
0:48:42 > 0:48:46from three to four months.
0:48:46 > 0:48:49Mike has organised all the contractors, while Barbara
0:48:49 > 0:48:53has picked out the decor, including those stylish radiators.
0:48:53 > 0:48:57They now plan to rent, but are they happy with their finished product?
0:48:59 > 0:49:02- It's fabulous.- Yeah. - We really love it.- Yeah.
0:49:02 > 0:49:06That's why we really considered "Do we want to move in?"
0:49:06 > 0:49:10because it's so lovely. We shouldn't be having a problem renting it out.
0:49:12 > 0:49:18Barbara and Mike love it. I do, too. But will two local estate agents?
0:49:18 > 0:49:21And can the couple expect a decent return on renting?
0:49:21 > 0:49:24Having had a look around the flat, I think it's fantastic.
0:49:24 > 0:49:27It's a very nice, very big period-style flat.
0:49:27 > 0:49:31I like the fact that they've kept the flat true to its original form,
0:49:31 > 0:49:34in respect of nice big windows, they've kept the sash windows,
0:49:34 > 0:49:37put in nice radiators, and also the colours they've used.
0:49:37 > 0:49:40In period properties, they would have used strong colours.
0:49:40 > 0:49:42Back in the original times, there would've been strong colours.
0:49:42 > 0:49:45The colours are nice, strong and bright. So, I love it.
0:49:45 > 0:49:49The one thing that does worry me slightly is the bathroom.
0:49:49 > 0:49:53We do find in the business that most people want to have an actual bath.
0:49:53 > 0:49:56In here, they've put in a very nice shower cubicle,
0:49:56 > 0:49:57and the bathroom looks beautiful,
0:49:57 > 0:50:00but they did have enough room for a good-sized bath.
0:50:00 > 0:50:02I think it's a lovely flat.
0:50:02 > 0:50:05I think the refurb is done to a very high standard.
0:50:05 > 0:50:08You've got lovely features around the property.
0:50:08 > 0:50:11The colour scheme is perfect. It's very different.
0:50:11 > 0:50:14I think the colour scheme really complements, you know,
0:50:14 > 0:50:18the white skirting boards, the sash windows and the column radiators.
0:50:21 > 0:50:24Thumbs up from the agents and they gave a selling price
0:50:24 > 0:50:29between £470,000 and £475,000,
0:50:29 > 0:50:33which, against Barbara and Mike's total 417-grand spend,
0:50:33 > 0:50:37would give them a healthy £58,000 pre-tax profit.
0:50:38 > 0:50:43But they want to rent, with an eye to living here themselves someday.
0:50:43 > 0:50:45So, what can they expect?
0:50:47 > 0:50:50In the current market, I think the property would rent for around
0:50:50 > 0:50:54£1,600 per calendar month, potentially a little bit more,
0:50:54 > 0:50:56because there's such a high demand in the rental market
0:50:56 > 0:50:58around the Crystal Palace area.
0:50:58 > 0:51:03Um, this flat would rent for, I believe, £1,450 per calendar month.
0:51:03 > 0:51:07We feel, um, 1,600 is an accurate reflection
0:51:07 > 0:51:10of the quality of the flat and location we're in,
0:51:10 > 0:51:12and the demand that's around right now.
0:51:12 > 0:51:14So, that's what we're aiming for - 1,600.
0:51:16 > 0:51:22And at £1,600 per calendar month, the couple would bank a 4.6% yield.
0:51:22 > 0:51:25So, has it been a good experience for them both?
0:51:26 > 0:51:27Oh, fantastic.
0:51:27 > 0:51:30It was a great thing to have done and a great learning experience.
0:51:30 > 0:51:33And we think we'll probably go to the auctions again.
0:51:40 > 0:51:44Earlier on in today's show, I was enjoying the country air of Mossley,
0:51:44 > 0:51:47west of the Pennines, just nine miles from Manchester.
0:51:48 > 0:51:51I wasn't enjoying the safety features of this bungalow,
0:51:51 > 0:51:54guided at £80,000-£100,000.
0:51:54 > 0:51:58Polystyrene tiles throughout were a major fire hazard,
0:51:58 > 0:52:02although it seemed like I was a hazard to this house myself.
0:52:02 > 0:52:04Hold on a minute, who wrote this?
0:52:04 > 0:52:10And I'm pretty sure this would not pass current safety regulations.
0:52:10 > 0:52:12As you can see, that's not...
0:52:12 > 0:52:13I'll put that back...
0:52:14 > 0:52:15..as I found it.
0:52:15 > 0:52:19# I am a one-man wrecking machine! #
0:52:22 > 0:52:25Yeah, Demolition Dion is what they call me.
0:52:25 > 0:52:27But there was potential to build value
0:52:27 > 0:52:31by adding an upstairs bathroom in the void space.
0:52:31 > 0:52:34And there was a bit of a bidding battle at the auction.
0:52:37 > 0:52:41100 grand was paid by Jason and his business partner Jamie.
0:52:41 > 0:52:43Their building firm did renovations for resale
0:52:43 > 0:52:46when work was a bit quiet. Jason did the finance,
0:52:46 > 0:52:50while Jamie's project management skills came highly recommended.
0:52:51 > 0:52:53I originally met Jamie a few years ago,
0:52:53 > 0:52:55when I was looking to get a new roof done on my own property.
0:52:55 > 0:52:57He did such a great job, I had other projects
0:52:57 > 0:53:00that needed doing up there, and I got Jamie to do those for me
0:53:00 > 0:53:04and he spent about 18 months, um, on and off, doing the work.
0:53:04 > 0:53:08- Happy with the work?- Absolutely. - You sure?- Definitely.- Tell me later.
0:53:08 > 0:53:09LAUGHTER
0:53:10 > 0:53:12Five months on and I'm keen to see
0:53:12 > 0:53:16if the boys have created another renovation revelation.
0:53:16 > 0:53:17So, shall we have a look?
0:53:19 > 0:53:20# Come on!
0:53:27 > 0:53:28# Come on!
0:53:34 > 0:53:35# Come on! #
0:53:39 > 0:53:42A great transformation and I particularly like
0:53:42 > 0:53:46the quality of the bathroom they fitted in that dormer void space.
0:53:46 > 0:53:50We created a bathroom upstairs, which is now the main bathroom
0:53:50 > 0:53:52for the three bedrooms that are up on the first floor,
0:53:52 > 0:53:56and then, we've also still got the downstairs bathroom also.
0:53:56 > 0:53:58# Come on! #
0:53:58 > 0:54:00Hold on a minute, Jamie. RECORD SCRATCHES
0:54:00 > 0:54:04I could've sworn you just said three bedrooms on the first floor?
0:54:04 > 0:54:07Surely you mean two bedrooms?
0:54:07 > 0:54:09Right, when we first stripped out the rooms upstairs,
0:54:09 > 0:54:13we realised there was a lot of unused space in the roof voids.
0:54:13 > 0:54:15So, we've put in a couple of new floors,
0:54:15 > 0:54:17we've created the extra bathroom
0:54:17 > 0:54:19and we've also managed to get in a third bedroom now.
0:54:19 > 0:54:22Because of the extra bedroom and bathroom we put in upstairs,
0:54:22 > 0:54:24we've had to involve building control.
0:54:24 > 0:54:27They've come out and checked the work we've done is up to standard
0:54:27 > 0:54:29and we've had to do a few extra things,
0:54:29 > 0:54:33like install extra smoke alarms and carbon monoxide detectors.
0:54:35 > 0:54:40Let's count. One, two, three, four...
0:54:40 > 0:54:45five bedrooms! Wow! Maths wasn't my strong subject, but the boys
0:54:45 > 0:54:49certainly understood adding a bathroom and a bedroom adds value.
0:54:49 > 0:54:53But has it added greatly to their budget?
0:54:53 > 0:54:56On the budget, we originally estimated £20,000
0:54:56 > 0:54:58for doing everything, but obviously,
0:54:58 > 0:55:00cos of the extra bedroom and the floors we've had to put in,
0:55:00 > 0:55:05the total budget now, including all the legal fees and auction fees,
0:55:05 > 0:55:06is going to come in about 36.
0:55:08 > 0:55:12Money well spent, and it seems a few bob has gone on the garden, too.
0:55:12 > 0:55:17Adding that extra room took their timescale from 12 to 16 weeks.
0:55:17 > 0:55:21But there's a lot to like throughout this high-quality home.
0:55:21 > 0:55:23I'm most pleased with the kitchen.
0:55:23 > 0:55:26I think it's really good quality and it gives a good finish.
0:55:26 > 0:55:28I actually decided to go for the full kitchen,
0:55:28 > 0:55:32rather than a kitchen/diner, purely because of the size of the property,
0:55:32 > 0:55:34and, with it having five bedrooms,
0:55:34 > 0:55:35I thought that it needed a bigger kitchen.
0:55:35 > 0:55:38The appliances - the cooker, the extractor -
0:55:38 > 0:55:40they look really nice and give a very good finish.
0:55:40 > 0:55:43I think my favourite bit is the new bathroom we created upstairs.
0:55:43 > 0:55:45It looks very modern, stylish,
0:55:45 > 0:55:49and it's a great use of pretty much wasted space that was there before.
0:55:49 > 0:55:52I really like the finish that we've got on this property and I do hope
0:55:52 > 0:55:55that it'll help it sell a lot faster than we anticipated.
0:55:57 > 0:56:01I don't think you're going to have any problems shifting this house.
0:56:01 > 0:56:04But what do two local estate agents think of the bungalow
0:56:04 > 0:56:08now it's complete? First, the agent who saw it last time.
0:56:08 > 0:56:09This is my second time in the property.
0:56:09 > 0:56:11They've made a vast improvement.
0:56:11 > 0:56:13The property looks really great.
0:56:13 > 0:56:15They've done pretty much everything that was needed to make it
0:56:15 > 0:56:18into a family home, from what was a refurbishment
0:56:18 > 0:56:19to a completely finished property.
0:56:19 > 0:56:21The area has become more desirable.
0:56:21 > 0:56:23It's quite an up-and-coming area anyway, Mossley.
0:56:23 > 0:56:26The local secondary school is now outstanding in the Ofsted report,
0:56:26 > 0:56:28so family homes are really desirable.
0:56:28 > 0:56:31So anything that is three and four bedrooms with a garden and parking
0:56:31 > 0:56:33is what people are looking to purchase.
0:56:33 > 0:56:36The property's got a great feel to it. It works throughout.
0:56:36 > 0:56:39It's got a nice kitchen and bathroom, very impressive,
0:56:39 > 0:56:42so it should be very popular when it comes to the market.
0:56:42 > 0:56:43No real negatives to the property.
0:56:43 > 0:56:46It's got everything a buyer could possibly want.
0:56:46 > 0:56:48Plenty of parking, garden to the rear
0:56:48 > 0:56:51and a nice finish internally in the property.
0:56:52 > 0:56:56With a total spend of £136,000,
0:56:56 > 0:56:59Jason and Jamie will be hoping that having five bedrooms
0:56:59 > 0:57:02makes it stand out for the families buying in this area.
0:57:03 > 0:57:06What sort of figures could they expect, though?
0:57:08 > 0:57:10If I was placing this property onto the market,
0:57:10 > 0:57:14my opinion would be offers over £165,000.
0:57:14 > 0:57:18We'd suggest an asking price of £165,000.
0:57:18 > 0:57:21Yeah, we're quite pleased with those valuations. We do think,
0:57:21 > 0:57:25cos we know the area quite well, we can get a little bit more than that,
0:57:25 > 0:57:29so we'd look to put it on the market for offers in the region of 180,000.
0:57:29 > 0:57:34Well, if Jason and Jamie were to realise their figure of £180,000,
0:57:34 > 0:57:38that would mean a cracking profit of around 44 grand.
0:57:38 > 0:57:42They had already calculated in some fees in the renovation bill,
0:57:42 > 0:57:45but there will be some other costs, like taxes, to deduct.
0:57:45 > 0:57:47They've added real value to this home
0:57:47 > 0:57:52and they've also added real profit into their company's coffers.
0:57:52 > 0:57:55Any advice for those of us who want to follow suit, guys?
0:57:55 > 0:57:57Make sure you buy the properties at the right price.
0:57:57 > 0:58:01Try and stay within the budget, but if you do go over the budget,
0:58:01 > 0:58:03look for properties that have potential like this one did
0:58:03 > 0:58:05to add the bathroom and the extra bedroom,
0:58:05 > 0:58:08so there's a little bit of room for error there as well.
0:58:11 > 0:58:14Have we got you excited about the prospect of
0:58:14 > 0:58:17- visiting a property auction? - Well, I hope so.
0:58:17 > 0:58:19But even if you'd rather just stay on the couch,
0:58:19 > 0:58:22there is another way of getting your auction fix.
0:58:22 > 0:58:24Yes, get the kettle on and the tea brewed,
0:58:24 > 0:58:26in time for Homes Under The Hammer.
0:58:26 > 0:58:28- We'll see you then. - ALL: Goodbye.