Episode 33 Homes Under the Hammer


Episode 33

Property renovation series. A two-bed semi in Wellington in Telford, a three-bed in Carlisle and two Georgian cottages currently being used as offices go under the hammer.


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Transcript


LineFromTo

Hello and welcome to the show. Now, if you're interested in

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investing in property, then getting to grips with the housing market

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is really important.

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Yep, and having local knowledge could really give you the edge.

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Yeah, and when you've done your research, why not pop down to your

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local property auction and see what's on offer.

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Well, buying property at auction can be good value,

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as long as you do not pay too much, of course.

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Correct, Martin. It can be a bit risky, especially if you get

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carried away in the auction room.

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So, let's hope that does not happen to anyone on today's show.

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Let's find out.

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In Wellington, Shropshire, I have an axe to grind with this two-bed semi.

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It's not as straightforward as getting a pick-axe out

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and doing it yourself.

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Can I please borrow your axe to tackle a wall at this three-bed

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semidetached house in Carlisle, Cumbria?

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It would be easier, I'm thinking, to maybe take out this wall here.

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While in Ashbourne in Derby,

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I'm mining for property gold at this lovely Georgian cottage.

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You can see all the way down.

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There's a little drain at the bottom.

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All these properties have been sold at auction. We'll find out who

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bought them and what they paid for them when they went

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under the hammer.

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You bought it, sir. Well done.

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# Well, well, well... #

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Wellington is one of the larger towns in Shropshire.

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Despite being only ten minutes' drive from Telford and its shopping

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centre, Wellington boasts lots of independent businesses,

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as well as a historic market, so, the town centre has bags of character

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as well as great transport links.

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I think it's...

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# Well, well, well... #

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..worth a look.

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So, just five minutes drive away from Wellington town centre,

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which has all the shops and amenities you could want,

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and here is our property.

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It is a two-bedroomed,

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semidetached house with a guide price of £70,000 plus.

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It looks pretty nice from here.

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Will the inside be the same?

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Hold it. Is there room for off-street parking here?

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Hmmm. I'll come back to that.

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OK.

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OK, as soon as you come in the door you've got the stairs

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going up to the bedrooms, and to my right is the lounge.

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It's a good-sized lounge as well.

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Dual aspect - you've got your nice windows at either end.

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I have noticed there is a bit of damp there in the corner

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and another bit of damp in the corner there.

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I suspect that's due to the house being empty for some time.

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And you've got a fireplace here which doesn't look too sturdy,

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so, that would definitely have to come out and you'd have to replace

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the flooring as well.

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But, all in all, it's a good-sized lounge

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and it could be a nice, cosy lounge if you get it right.

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Let's see through here.

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OK, into the kitchen and it's a decent-sized kitchen as well.

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I think these cupboards have seen better days,

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so, whether renting or selling, I'd want to take all this out

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and put a brand-new kitchen in, freshen it up.

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New floor as well, but what I will say on the positive side,

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the central heating and these windows look brand-new.

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In here we've got,

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a pantry, bit of storage.

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So, all in all, new kitchen in here, you'd be off and running.

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# Oh, baby I'm off and I'm running

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# Just as far as I can go

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# I've had it up to here and I want out... #

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OK, outside, we have got a small yard.

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In there, I know was coal storage,

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but there's not a lot you can do with this outside space.

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In here,

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is the pantry that's just off the kitchen.

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So, in here, what have you got?

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Wow, look at this!

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Look at all this storage space in here.

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Now, it's always good to have a bit of storage space outside, but,

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through that wall there is the pantry,

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which has a window to it and through that wall is the kitchen.

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And there's already a window built in, just there.

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So, this is crying out to be an inside space.

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Use it for whatever you will, but I'm thinking, knock that down,

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knock that down and you've got yourself an even larger kitchen

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with a dining room as well.

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Kitchen diner would work perfect with this space.

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Get this outside space and use it inside.

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You'll probably need a supporting beam, so there are costs involved,

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but I reckon you can balance that out,

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because there are savings to be made upstairs.

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Yes, both bedrooms need redecoration,

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unless you're a fan of the reds or the sky blues.

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The bathroom is, dare I say it, good?

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The suite's relatively new and bright and the tiles look all right.

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Although you'll need new flooring, that's about it up here.

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So, a bit of work in the kitchen seems like it will add value,

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as well as my idea that I had earlier.

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As I was walking up to the house, I noticed lots of off-street parking

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and I think this house would benefit from that, too.

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But, the first thing you have to do

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is get this kerb dropped, and it's not as straightforward as getting

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a pickaxe out and doing it yourself.

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The first step would be getting in touch with your council planning

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department to see if it needs planning or it comes under permitted

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development. Of course, there'll be a fee for that.

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Then you've to get in touch with the Highways Agency.

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They have to come out and see if it's feasible.

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And, yes, there'll be a fee for that as well.

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And then you'd have to get the builders out to do the work

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to finish off your lovely driveway.

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And, yes, you guessed it again - there's a fee for that.

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But, what I would say, it would be worth going through that process,

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cos off-street parking is value and would add value to this property.

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With the average cost of dropping a kerb around 650 quid,

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I think I am right, but don't just take my word for it.

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We have asked along an agent from the auctioneers who sold it,

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if they think off-street parking could add up to £5,000 in value.

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But, first, let's get a base figure

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if you were to just do a standard renovation inside.

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I think if you did the cosmetic work, you're looking at a ballpark

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figure of between £95,000 to £100,000.

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And the agent agrees that opening up the kitchen would work much better.

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But, would it be worth the costs involved?

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If you were to do the recommended works in terms of opening up

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the kitchen to create the kitchen diner,

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you're probably looking at resale value of around £115,000.

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So, it could add £15,000,

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but that all depends on how much it would cost to do.

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Best to contact some builders, get a quote or two, if that is your plan.

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What about the potential rental figures?

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I think from a rental perspective,

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you're probably looking about £525 per calendar month.

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This house has got a lot going for it.

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One thing I would do is I would use that outside storage space

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as inside space and try to create a nice kitchen dining area.

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Don't forget, this house has a reasonable guide price of £70,000 plus.

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Let's see who went for it when it went under the hammer.

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Two-bedroom, semidetached house in need of modernisation.

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What shall we say for this?

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Let me start this one at 70.

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Save time.

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70 on the front row, thank you.

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At £70,000. 71, can I see you now?

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At 70,000. Anybody, 71?

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71,

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72,

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73,

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74...

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75?

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No? At £74,0000.

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The bid's on the front row at £74,000.

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75, anywhere else?

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74 and a half.

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75.

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And a half?

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No? At 75, then. The bid's on the front row at £75,000.

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I'm selling it.

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£75,000.

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You bought it, well done.

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The successful bidders were Chris and his wife Polly,

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who paid £75,000 for this property.

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I met them at the house to discuss their plans.

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-Polly, nice to meet you.

-Nice to meet you.

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-Chris nice to meet you as well.

-Nice to meet you.

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-And congratulations.

-Thank you.

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I think you've a got yourself a nice place. Why this particular property?

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I think this is a good location.

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Potential without too much work

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and I think it's something that we can tackle over

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the next three or four months.

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We've already got one property over here.

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That's a flat. Near the town centre.

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That's doing OK at the moment.

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So, is this the start of maybe a portfolio for you guys?

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Really, assisting our retirement and Polly's retirement -

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who hasn't quite got there yet.

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I could have told you that. I could have told you that.

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I'm still at work full-time.

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I work for the police.

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I work in automatic numberplate recognition now.

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Started as a driver trainer and now in ANPR.

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What does that entail, driver training? Just give us an insight.

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It is teaching the officers to drive to the police system of driving.

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-Fast?

-Not necessarily fast.

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Safe, I would say, more than fast.

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Being able to respond to situations

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that they need to get to rapidly, safely.

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Fantastic. I'll take a number later and you can give me some tips.

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OK, what are you going to do with this property?

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Tell us how you're going to change it. Will you do anything to it?

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Obviously, it needs a complete and utter redecoration, every room.

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Hall and stairs need to be skimmed.

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It'll have a new kitchen.

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Strangely, the bathroom's OK.

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But, apart from that, another issue that we're about to tackle,

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we're halfway there, looking at providing off-road parking,

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but that depends on the local authority,

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-so we've got to wait and see about that one.

-You've got a few bits...

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You've got very little outside space, a very small back garden.

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-It's very small.

-It's tiny.

-Yeah.

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But, there's some storage as well,

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which does eat into the house slightly.

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Have you thought of using that as inside space, maybe?

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We did, we did, and you could do, because it's still a square block,

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but, truthfully, the money to do it,

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I don't think it'd pay us back in what we'd get from it.

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I'm a bit disappointed I won't be seeing that kitchen extended,

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but the couple are thinking in a businesslike way

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and intend renting it out, and it would have eaten into their yield.

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So what sort of budget have they set themselves?

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The cost to improve the property itself, inside,

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we're looking between six to ten.

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-Yeah.

-So, it's quite a wide...

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Depending on how much we need to spend, so...

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And then, the drive will be separate to that.

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Oh, OK. So, your budget would be?

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-Yeah...

-There's the house budget.

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The house budget would be...?

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-Six to ten..

-Six to ten.

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And?

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-Then that on top.

-Yeah.

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Additional cost would be the kerb being dropped as well,

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and all the work that has to...

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-Yeah.

-That's not a bad budget at all, actually,

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because there's not a lot that needs to be done in here, really.

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We're hoping nearer the six than the ten.

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I hope so, but there is always the unforeseen thing that turns up.

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Certainly something did at the flat, and we'll see how we go.

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Chris, I've spotted a couple of damp patches.

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Are they a concern for you?

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I don't think so, and the reason why is because the damp patches actually

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aren't damp when you actually touch them.

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One of them in the living room,

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I think that was caused by a lot of rubbish being piled up

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and retaining water.

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It was some feet up the wall before it was cleared.

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And the one at the front,

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there's been some dodgy filling there behind a telecommunications

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fitting, but, we'll see.

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The plaster itself, well, I accept that may have to be repaired there.

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Be redone. Yeah, of course.

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So, with a fairly flexible budget,

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the couple are hoping to get in tradesmen.

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Chris has done the work on their previous flat,

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but he didn't enjoy it so the question this time around is...

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Are you going to get involved?

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Well, I'll certainly be removing the kitchen and supervising,

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but I won't do as much on this one as I did on the last one.

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You have a breather.

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Polly, you can take over.

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Polly, I wish you all the best.

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-Good luck to you.

-Thank you very much.

-Chris, good luck, sir.

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Thank you.

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So Polly and Chris are wanting to rent this house out

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and they're being really sensible with it as well,

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giving themselves a decent budget and a reasonable timescale.

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I think when we come back here in three or four months' time,

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this house will be ready to rent.

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

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Carlisle in Cumbria, a city synonymous with the Border reivers,

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family gangs who raided cattle and fought ferociously across

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the Scotland-England border.

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A curse was brought against them by the Archbishop of Glasgow

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back in 1525, and that curse was carved into a 14-tonne lump of

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granite to mark the millennium.

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But, some inhabitants claim that since the curse of Carlisle

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was displayed, misfortune has plagued the city,

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with everything from floods, the outbreak of foot and mouth,

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to the failure of the local football team.

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Let's hope it doesn't have an effect on the property market.

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Well, leaving the curse behind,

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I've come to the west of the city,

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about ten minutes' drive from the city centre,

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near the Cumberland Infirmary.

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In this little cul-de-sac, which is a good start,

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three-bedroomed, semidetached, guide price of £30,000-£40,000.

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Oh. Only positives so far.

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From what I can see, the roof is looking in good order.

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Shame I can't say the same for the paintwork.

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Okey-cokey. So...

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Through the front door, stairs up to your bedrooms there

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and then through into your living room.

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A couple of things that strike you straightaway and they're actually

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health and safety issues.

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Number one is polystyrene tiles on the ceiling there.

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They've got to go, they're a fire risk.

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Erm, gas fire.

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You don't know how old it is,

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definitely need to have that checked out and, in fact,

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I would be looking more at replacing this whole thing

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and to create a really nice sort of centrepiece in this room.

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But, it's not a bad size. Doesn't look like it's got double glazing,

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so that's probably something that you'd want to consider.

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But, through here into the rear of the property,

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where you've got your kitchen, again, it's kind of tired,

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a little bit dated.

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You'd want to spend a bit of money on this, just sparkling it up,

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nice kitchen units.

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Bathroom and loo here.

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You'd hope it would be upstairs, but, no.

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On the plus side, though,

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immediately I'm thinking, maybe take out this wall here

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to create a really big, sort of, kitchen/living space.

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That would definitely change the feel of the downstairs here.

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To sum up, then, a property that is crying out for a bit of creativity.

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Hm, I can't quite say it's the greatest house I've ever seen,

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but there are opportunities to improve it, which is a plus.

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I would start with making the kitchen bigger.

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The 40,000-£50,000 guide price is another positive,

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but the negative is how much you're going to need to spend on it

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to improve it.

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So, on the roller-coaster ride that is the pros and cons of upstairs,

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what have we got? Well, on the plus side, three good-sized bedrooms.

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On the downside, no toilet.

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On the upside, this room itself,

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big enough, easily, to fit a toilet and bathroom in.

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So, that's great news.

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Bad side - ooh, look at this.

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Nasty, nasty signs of damp.

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And shall we carry on with one more good to finish with?

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Yeah, OK. I reckon, on the upside,

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something simple, like a problem with the guttering.

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Sort that out and you'd resolve the issue.

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MUSIC: Rollercoaster by Bleachers

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# You were such a rollercoaster

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# And a killer queen you are

0:16:310:16:33

# Rollercoaster, I don't say no

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# Rollercoaster, when you don't say no ... #

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Ups, downs, I'm not sure I can keep up with this house.

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Do I like it? Yes?

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No?

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Not sure.

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Oh, time to clear my head outside.

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One thing which you can normally be pretty sure

0:16:480:16:51

ex-local authority houses have is also lots of useful bits of

0:16:510:16:56

storage space outside, little outbuildings or whatever,

0:16:560:16:58

and that's certainly the case here.

0:16:580:17:00

Outside loo, little storage area there, and then,

0:17:000:17:03

a pretty good-sized rear garden.

0:17:030:17:05

Now, a lot of it's sort of laid to concrete, which isn't ideal,

0:17:050:17:08

but I think a bit of imaginative gardening here...

0:17:080:17:11

Yep, you can turn this into a nice, little space.

0:17:120:17:15

# Yes, I guess you can... #

0:17:150:17:19

I think that rather overused word "potential" sums up this place.

0:17:190:17:24

With a bit of hard graft and some love and attention,

0:17:240:17:27

you could be onto a winner.

0:17:270:17:28

But, what does the auctioneer who sold it think?

0:17:310:17:34

The positives of a property of this size,

0:17:340:17:37

type and nature is the ex-local authority properties,

0:17:370:17:41

there tends to be a ceiling with prices.

0:17:410:17:43

However, they were well built.

0:17:430:17:45

I think the only downside to the property, and I wouldn't really call

0:17:450:17:49

it a downside, cos some would see it as a plus,

0:17:490:17:51

it's in a cul-de-sac location, so it makes it a little bit difficult for

0:17:510:17:56

in and out with a motor vehicle, but it keeps it safe for children

0:17:560:18:00

cos there's no through traffic.

0:18:000:18:02

So, it depends which way you want to look at it.

0:18:020:18:04

Oh, crikey! Not more pros and cons.

0:18:040:18:06

But, when in property developing, there is one overriding factor.

0:18:060:18:11

That is, is there money to be made?

0:18:110:18:13

So, with a guide price of just £40,000-£50,000,

0:18:130:18:16

could this see some positive returns?

0:18:160:18:18

Done to a good spec,

0:18:190:18:20

I think you would expect to achieve around about £80,000.

0:18:200:18:25

But, how would it fare in the local rental market?

0:18:250:18:28

I think if it was exposed to the rental market with three bedrooms,

0:18:290:18:32

I think you'd achieve around £425 per calendar month.

0:18:320:18:36

Well, it's a nice, solid, little property,

0:18:380:18:40

in need, certainly, of modernisation, but a good area.

0:18:400:18:45

Yeah, a good auction purchase.

0:18:450:18:47

Let's see who agreed when it went under the hammer.

0:18:470:18:50

Semidetached property in a cul-de-sac location.

0:18:510:18:54

Start me, 35, say.

0:18:540:18:57

At £35,000.

0:18:570:18:58

35 here.

0:18:580:19:00

At 35, 36, 37, 38...

0:19:000:19:03

39. You're out.

0:19:030:19:05

With you at 38, 39 in the door.

0:19:050:19:08

40... 41.

0:19:080:19:09

So there was a steady start for the Carlisle property

0:19:100:19:13

and we rejoin the auction with bidding at £49,000.

0:19:130:19:16

49, 50,

0:19:170:19:20

One,

0:19:200:19:21

two,

0:19:210:19:22

shake of the head. 52.

0:19:220:19:24

52, I'm bid.

0:19:240:19:25

53, I've got.

0:19:250:19:26

-Four.

-Shake of the head.

0:19:260:19:28

All done, all out there and at £53,000. Are we finished?

0:19:280:19:32

24.

0:19:330:19:34

The hammer fell at £53,000

0:19:340:19:36

and the couple with paddle number 24 were Vera and John, who've bought

0:19:360:19:41

the three-bed house as a joint project with their son Steve.

0:19:410:19:45

John's a retired MoD police officer, while son Steve is an actor.

0:19:460:19:51

I met them both back at the house to find out more.

0:19:520:19:54

Steve, John, great to meet you both.

0:19:560:19:57

-Hi.

-Congratulations.

0:19:570:19:59

-Thank you.

-Tell me why you wanted to buy this place.

0:19:590:20:01

His house is too small for him,

0:20:010:20:04

our house is too big for us,

0:20:040:20:06

and so we saw this one coming up for auction and we bid for it.

0:20:060:20:09

You're going to have to explain that whole scenario a little clearer to me.

0:20:090:20:12

-OK.

-The whole your house and his house thing doesn't say why.

0:20:120:20:15

The wife said, "That's a nice house," and I said, "Yeah."

0:20:150:20:18

She says, "OK, well, go and bid for it," which I did, and then she said,

0:20:180:20:22

"We should do it up and then if Stephen wants it,

0:20:220:20:25

"he can live there and we'll go and live in his house."

0:20:250:20:28

The first I heard of it was about half an hour ago

0:20:280:20:30

so, as far as I knew they were going to move into it themselves,

0:20:300:20:33

but I'm quite happy.

0:20:330:20:34

Right, so half an hour ago,

0:20:340:20:35

-you heard that actually you might be living here...

-Yes.

0:20:350:20:38

-..and moving out of the house you're in.

-Yes.

0:20:380:20:40

You are going to be forced out of your home by your parents.

0:20:400:20:44

Yes. Shocking, isn't it?

0:20:440:20:45

So, at what point today did you sort of formulate this idea?

0:20:460:20:49

Was it breakfast with the wife or something?

0:20:490:20:51

No, no, it was weeks.

0:20:510:20:52

-Weeks ago?

-Yeah.

-But you just kept it secret.

0:20:520:20:54

Well, yeah.

0:20:540:20:55

Basically.

0:20:550:20:57

So, it sounds like a cunning connivance, then.

0:20:580:21:00

Well, he did supply half the cash to buy the house, so...

0:21:010:21:04

Oh, well, that's great. So, you're making him pay to have the house

0:21:040:21:06

-which you're going to force him to move out of!

-Yeah.

0:21:060:21:09

Ah, well, he wants to move anyway.

0:21:090:21:11

I have been looking for something slightly larger

0:21:110:21:13

and this fits the bill very nicely.

0:21:130:21:14

-Oh, right. So, at least, you're upsizing.

-Absolutely.

0:21:140:21:16

Right, but you're downsizing.

0:21:160:21:18

# Tell me what's goin' on?

0:21:180:21:20

# I'll tell you what's goin' on

0:21:200:21:22

# What's goin' on?

0:21:220:21:23

All right, let's get this straight.

0:21:250:21:27

So, Steve is moving into this house so that John and wife Vera

0:21:270:21:31

can move into his house, because they're downsizing,

0:21:310:21:34

but they didn't tell Steve about the plan until today.

0:21:340:21:38

Hm. But, he's OK with it.

0:21:380:21:39

So, that's OK?

0:21:390:21:41

Right, I think I've got it.

0:21:420:21:43

Why this house, then?

0:21:450:21:46

Because it looked quite nice.

0:21:460:21:48

Had you seen the house beforehand?

0:21:480:21:50

-Oh, yes.

-Oh, right. OK, great.

0:21:500:21:51

But with a view to what? Why did you think your parents were buying it?

0:21:510:21:54

To move into themselves.

0:21:540:21:56

Ah.

0:21:560:21:57

That's what I thought.

0:21:570:21:58

-Right.

-I may have missed something in the conversation.

0:21:580:22:01

How do you think your parents are going to get on,

0:22:010:22:03

moving into your house from their large house?

0:22:030:22:05

I've no idea where they're going to put all their rubbish.

0:22:060:22:08

They've got tons of furniture.

0:22:080:22:10

And how big is your house that you live in?

0:22:100:22:12

It's a two up, two down.

0:22:120:22:13

Right. And how big is the house they currently own?

0:22:130:22:16

It's large.

0:22:160:22:17

It is about four times, five times the size of this house.

0:22:170:22:21

Well, so it's going to be snug then.

0:22:210:22:22

Snug.

0:22:220:22:24

-This is a big life change for you, isn't it?

-Yeah.

0:22:240:22:26

I don't want to change, but you've got to when you're getting older.

0:22:270:22:31

Aches and pains, and a massive garden

0:22:310:22:33

and it's getting too much for me.

0:22:330:22:36

Yes. Amongst their frivolity about these musical chairs moves,

0:22:360:22:40

the actual change is driven by practicality.

0:22:400:22:43

A head-over-heart decision that many of us have to face.

0:22:430:22:46

Nothing will, however, change until John and Vera

0:22:460:22:49

sell their current home and the work is completed on this house.

0:22:490:22:52

Tell me what you're going to do to this place

0:22:540:22:57

to make it suit your needs.

0:22:570:22:59

Double-glazed and replumbed throughout and general tidy-up.

0:22:590:23:04

Bathroom could do with a little bit of reorganisation.

0:23:040:23:08

Right.

0:23:080:23:09

But, otherwise, the main structure of the building, happy with that.

0:23:090:23:11

OK. Because you look at it with completely different eyes now?

0:23:110:23:14

-I am, yeah.

-It's your pad.

0:23:140:23:16

Yeah. As far as I'm concerned, a coat of paint and hoover the carpets

0:23:160:23:19

-and I'm in.

-So, what's the budget?

0:23:190:23:21

Well, the wife and I reckon between £10,000 and 14,000.

0:23:210:23:26

OK. That's quite healthy.

0:23:260:23:27

And timescale?

0:23:270:23:29

We're in no rush.

0:23:290:23:31

Unless somebody comes along and says, "I want your house now."

0:23:310:23:34

-Right.

-It'll be anywhere between,

0:23:340:23:36

I reckon, 6 months and 12 months.

0:23:360:23:38

Well, listen, thank you for sharing your story with us.

0:23:380:23:41

We look forward to seeing what happens.

0:23:410:23:43

Thank you.

0:23:430:23:44

-Good to meet you.

-Thank you.

0:23:440:23:46

You know that thing that dogs do sometimes, when they kind of

0:23:530:23:57

rattle their head backwards and forwards and their cheeks go...

0:23:570:24:00

..and their ears flap about?

0:24:000:24:01

That's kind of what I want to do right now.

0:24:020:24:04

What can I say?

0:24:050:24:06

What will happen?

0:24:060:24:08

Who knows?

0:24:080:24:09

You can find out later in the show.

0:24:090:24:12

Coming up, I'm stepping things up at this lovely two-bed,

0:24:130:24:17

Georgian cottage in Derby.

0:24:170:24:19

That is probably one of the nicest staircases I've seen

0:24:190:24:22

on Homes Under The Hammer.

0:24:220:24:23

And we go back to Carlisle to see what Steve and John have learned.

0:24:240:24:28

I would never, ever recommend buying a house, living in it

0:24:280:24:31

and doing it up at the same time.

0:24:310:24:32

We wander back to Wellington in Shropshire to this two-bed,

0:24:400:24:43

guided at £70,000 plus.

0:24:430:24:45

It had good space inside, apart from the kitchen,

0:24:460:24:48

but at the side of the property, you could change all that.

0:24:480:24:52

Wow, look at this.

0:24:530:24:55

Look at all this storage space in here.

0:24:550:24:57

Listen, this is crying out to be an inside space.

0:24:580:25:01

I'm thinking knock that down,

0:25:010:25:03

knock that down and you've got yourself an even larger kitchen

0:25:030:25:06

with a diner as well.

0:25:060:25:08

Kitchen-diner would work perfectly with this place.

0:25:080:25:11

That and off-street parking were two of my thoughts to improve this house

0:25:110:25:16

which was bought by Polly and Chris for 75 grand.

0:25:160:25:20

They, too, wanted to create a new driveway

0:25:200:25:22

but they weren't too keen on the kitchen-diner idea.

0:25:220:25:26

Truthfully, the money to do it,

0:25:260:25:29

I don't think it'd pay us back in what we get for it.

0:25:290:25:32

Oh, well. Probably the right thing to do,

0:25:320:25:35

as they plan to rent and they have a six-to-ten-grand budget

0:25:350:25:39

for the house, plus whatever the driveway might cost.

0:25:390:25:42

So, who would do the work?

0:25:420:25:44

I'll certainly be removing the kitchen and supervising

0:25:450:25:49

but I won't do as much on this one as I did on the last one.

0:25:490:25:52

You have a breather. Polly, you can take over.

0:25:520:25:55

Yeah, no pressure, Polly.

0:25:570:25:59

But four months on, bang-on their timescale,

0:25:590:26:02

the front of the house would drive motoring fans wild.

0:26:020:26:06

MUSIC: She Drives Me Crazy by Fine Young Cannibals

0:26:060:26:09

A huge improvement and one certain to add value.

0:26:160:26:20

But was it hugely difficult and expensive?

0:26:200:26:24

We thought about off-street parking early on.

0:26:240:26:28

Never included as a full cost but the cost wasn't too great.

0:26:280:26:32

The off-road parking cost 1,700 and we did that because it gave them

0:26:320:26:38

somewhere to park off the road.

0:26:380:26:40

It was a question of speaking to the highways authority and planners.

0:26:400:26:44

Things went OK there.

0:26:440:26:47

After that, we decided on the contractor,

0:26:470:26:49

they did it and hopefully it worked.

0:26:490:26:52

It certainly has worked

0:26:540:26:55

and the couple have made it work inside, too.

0:26:550:26:58

I'm so pleased they've decided to knock the kitchen through

0:26:580:27:02

to create a modern space.

0:27:020:27:04

MUSIC: My House by Flo Rida

0:27:040:27:07

The completely restored living room is lovely

0:27:170:27:20

but I'm so glad they decided to increase the kitchen area

0:27:200:27:24

by incorporating that outside space.

0:27:240:27:26

We've made quite a few changes,

0:27:280:27:30

the kitchen being the major change as far as we are concerned.

0:27:300:27:33

We knocked out a couple of walls, the pantry and an outside store,

0:27:330:27:38

creating a kitchen-diner.

0:27:380:27:41

There was always a question mark for us.

0:27:410:27:43

Was it worth doing it?

0:27:430:27:44

Would it make enough difference to the rent?

0:27:440:27:47

Well, perhaps it doesn't make a huge amount of difference to the rent.

0:27:470:27:50

It probably makes a huge difference to the desirability and the future

0:27:500:27:54

saleability of the house and that is why we decided to do it.

0:27:540:27:58

I hope this will be a family room for people, an attractive place.

0:27:580:28:02

I think this is the best room, really, for me.

0:28:020:28:05

I think you are right, Chris.

0:28:050:28:07

It's a great space and although creating it was hard work,

0:28:070:28:10

I'm sure you will reap the benefits.

0:28:100:28:12

The house looks so much smarter with the bedroom walls skimmed.

0:28:140:28:17

The bathroom was basically OK,

0:28:170:28:20

so, Polly, did you get handy with the work?

0:28:200:28:22

I had a problem with my knee.

0:28:250:28:26

I ended up having to have an operation which was a partial knee

0:28:260:28:29

replacement. I'm still experiencing problems with that,

0:28:290:28:32

as you can imagine, seven weeks later.

0:28:320:28:35

No, I haven't been able to do a lot. In fact, I've done nothing!

0:28:350:28:39

Absolutely nothing.

0:28:390:28:42

Get well soon, Polly.

0:28:430:28:45

I'm sure Chris rolled his sleeves up,

0:28:450:28:47

while his wife quite rightly put her feet up.

0:28:470:28:50

I was involved in cleaning at the end, which seems silly,

0:28:520:28:55

but we really, we left the vast majority

0:28:550:28:59

down to Paul the builder and people he brought in to help him.

0:28:590:29:04

Well, hats off to Paul and the team

0:29:040:29:06

but the couple have kept a good grip on the purse strings,

0:29:060:29:10

staying roughly within their ten-grand budget for the house

0:29:100:29:13

and the driveway included, it's been around a 12-grand spend.

0:29:130:29:18

So what's their plan now?

0:29:180:29:19

This always was intended for rent.

0:29:210:29:23

Our letting agent's already looked at it

0:29:230:29:26

and I think actually it's probably on the market yesterday for letting.

0:29:260:29:31

But we do want it to be somebody's home,

0:29:310:29:34

somewhere where somebody can come in and feel like it's their home,

0:29:340:29:37

not just somewhere they're renting.

0:29:370:29:39

And with this finish,

0:29:390:29:40

it will certainly feel like home to any tenant.

0:29:400:29:44

But will there be profit in this property for Polly and Chris?

0:29:500:29:55

We asked two local estate agents for their thoughts and valuations.

0:29:550:29:59

First impressions are very, very good with the property.

0:29:590:30:02

Nice to see everything so nice and modern,

0:30:020:30:04

particularly like the open-plan dining kitchen

0:30:040:30:07

and also a nice little touch is the driveway at the front.

0:30:070:30:10

The only downside I would say with the property,

0:30:100:30:13

for some family purchasers, would be the garden,

0:30:130:30:15

because the garden is quite small at the back.

0:30:150:30:17

I think the layout of the property is very nice.

0:30:170:30:19

It's an ideal layout due to the fact it's got a very nice-sized

0:30:190:30:22

kitchen-diner to the ground floor,

0:30:220:30:24

two good-sized bedrooms and a really nice-sized lounge.

0:30:240:30:26

The agents thought the house could sell for a top figure of £120,000

0:30:260:30:32

which, against the couple's 87 grand spent,

0:30:320:30:35

would give them a very healthy £33,000 profit

0:30:350:30:39

before usual taxes and expenses.

0:30:390:30:41

That's the value added for the long term but what about the

0:30:410:30:45

short-term and the rentals?

0:30:450:30:47

I think the rental market,

0:30:500:30:52

this property would achieve around 495 per calendar month.

0:30:520:30:54

If the current owners decided to let this property,

0:30:540:30:58

I would be suggesting to them a rental value

0:30:580:31:00

of £550 per calendar month.

0:31:000:31:02

Our folks we use have said...

0:31:020:31:05

575 and above, really, and that's where we are looking, really.

0:31:050:31:09

And he's put it on at 595 so...

0:31:090:31:12

Yeah. I think 550 is a pretty average price

0:31:120:31:15

for one in not very good condition and 495,

0:31:150:31:18

I know some of the two-bed flats are going for that, so...

0:31:180:31:21

At Polly and Chris's £575 per calendar month figure,

0:31:210:31:25

they net just under an 8% yield,

0:31:250:31:27

which will help them grow their retirement fund.

0:31:270:31:30

But do they have any burning desires to buy more property?

0:31:320:31:36

We've put an offer on one prior to the last auction,

0:31:400:31:44

which was accepted, and it's fairly similar to this.

0:31:440:31:47

However, our daughter has told us that she'll assist,

0:31:470:31:50

so we've got the Bank of Daughter, instead of the Bank of Mum and Dad!

0:31:500:31:54

For a short while.

0:31:540:31:56

30 miles north-west of the city of Derby

0:32:000:32:03

lies the quite market town of Ashbourne.

0:32:030:32:06

It's also just outside the Peak District and national park

0:32:060:32:09

so it's the perfect place for holiday lets.

0:32:090:32:12

I'm literally just a stone's throw from the town centre,

0:32:120:32:15

tucked away in this lovely little road,

0:32:150:32:18

full of these character cottages here.

0:32:180:32:20

Now, the property I'm here to see

0:32:200:32:23

used to be two cottages a long time ago.

0:32:230:32:26

Now it's been more recently turned into an old office

0:32:260:32:30

and has commercial use. But it's got two front doors.

0:32:300:32:33

The guide price is £75,000 and I think I'm going to go for this one.

0:32:330:32:38

Going to check it out.

0:32:380:32:40

I'm so eager to get inside and have a good old look around.

0:32:400:32:44

I just love Georgian properties and the character.

0:32:440:32:48

It's quite funny to see how harmoniously this lovely heater

0:32:480:32:52

next to the sash windows looks.

0:32:520:32:54

So wrong, isn't it? The sash windows are beautiful.

0:32:540:32:56

That has got to go.

0:32:560:32:58

And you can see it's a commercial building

0:32:580:33:01

because look at the strip lighting.

0:33:010:33:03

Wow.

0:33:030:33:04

It's quite crazy to imagine this has just been used as an office,

0:33:040:33:07

cos it's actually quite a beautiful space.

0:33:070:33:10

Got a little toilet area through there.

0:33:100:33:13

Something that is worrying me that I really do feel needs some

0:33:130:33:17

investigation is this back wall.

0:33:170:33:18

You can see if I do this, look, the old paint just peeling off.

0:33:180:33:22

And it actually does feel quite damp and wet to the touch.

0:33:220:33:26

So I'd certainly get in an expert to check that out.

0:33:260:33:30

The causes of damp are many and varied

0:33:300:33:32

so, yeah, I'd get an expert in.

0:33:320:33:35

Finding the root cause is key.

0:33:390:33:41

It's no good just scratching beneath the surface.

0:33:410:33:44

The room has a partition wall which creates a smaller space

0:33:460:33:49

with an original fireplace and a curious, more recent addition.

0:33:490:33:53

Now, you might think that this over here...

0:33:560:33:58

Come closer. Look. It's a bit of a secret hatch.

0:33:580:34:01

Well, it is, actually. Now, if I can get inside, take a look at this.

0:34:010:34:05

Just going to get my torch so I can show you,

0:34:050:34:08

but it's quite interesting. Here...is the house behind.

0:34:080:34:12

So, now, let's have a look.

0:34:120:34:15

If you go in there, you can actually touch the house that's built behind.

0:34:150:34:19

Look. There it is. Now, the reason why that is...

0:34:190:34:22

And if you go, you can see all the way down,

0:34:220:34:25

there is a little drain at the bottom.

0:34:250:34:27

So obviously you need to get access to that.

0:34:270:34:29

You can also see there's pipework here.

0:34:290:34:32

So at some point, you might need to get in there.

0:34:320:34:35

That is why the secret hatch has been built there.

0:34:350:34:39

But I do think somebody could do a bit of a better job than that.

0:34:390:34:43

It's a bit ugly, isn't it?

0:34:430:34:45

Well, that's taken care of the ugly.

0:34:470:34:49

Now for the good and the bad.

0:34:490:34:51

Well, it's pretty bad when you have to go outside

0:34:510:34:54

and in through the other front door

0:34:540:34:56

to get upstairs but the stairs, well,

0:34:560:34:59

when you get there... You've guessed it.

0:34:590:35:01

I'm just absolutely loving that staircase.

0:35:010:35:04

That is probably one of the nicest staircases I've seen

0:35:040:35:07

on Homes Under The Hammer. Such grandeur leading you up here.

0:35:070:35:10

And what an impressive room.

0:35:100:35:13

Three of these amazing big sash windows

0:35:130:35:18

with a great view out as well.

0:35:180:35:20

I don't think it does it justice

0:35:200:35:22

just having this being used as offices.

0:35:220:35:24

But you will need to apply for change of use

0:35:240:35:27

so whoever took this on has got to remember that.

0:35:270:35:30

You've got a little room through here

0:35:300:35:32

with just a loo and an old-fashioned sink.

0:35:320:35:35

It's all been painted that sort of pea, mint green.

0:35:350:35:38

It's a fantastic space. I really love it.

0:35:380:35:41

But there's a lot of work that needs to be done here and a lot of dosh

0:35:410:35:45

will need to be spent on this.

0:35:450:35:47

But the market might be a bit limited as there is no parking,

0:35:490:35:51

no garden and it's in a conservation area.

0:35:510:35:55

This is where a local estate agent's opinion would help matters.

0:35:560:35:59

So here he is.

0:35:590:36:00

There is very little demand for commercial use

0:36:020:36:04

in this sort of location and very little demand for flats

0:36:040:36:07

so perhaps residential for cottages

0:36:070:36:10

would be the best use of the property itself.

0:36:100:36:13

Given the location of the property,

0:36:130:36:15

the holiday let market would be very viable.

0:36:150:36:18

It's walkable to the town, there are lots of pubs in the town, cafes.

0:36:180:36:22

If it was used for holiday lets,

0:36:220:36:24

I would suggest perhaps two separate cottages

0:36:240:36:26

and achieve around £400 per week in high season.

0:36:260:36:31

A great return but this will also mean it lays empty

0:36:310:36:35

some of the year. If it was turned into a residential property,

0:36:350:36:38

what kind of return could it bring then?

0:36:380:36:41

I think it would rent for a value

0:36:420:36:44

in between £500 to £530 per calendar month.

0:36:440:36:48

If it was sold, then perhaps £120,000.

0:36:480:36:50

Well, this option what is a mixture of character and commercial

0:36:500:36:55

and I for one would love to see this being turned back

0:36:550:36:58

into a lovely residential home without the strip lighting.

0:36:580:37:02

There's an awful lot of work to do here.

0:37:020:37:05

Let's see who wanted to tackle this when it went under the hammer.

0:37:050:37:08

Lot 48.

0:37:100:37:11

In Ashbourne. Start me on this one, 75.

0:37:130:37:16

Bid me 70 to move it on. 70, thank you, I've got.

0:37:160:37:19

£70,000 the opening bid.

0:37:190:37:21

Initial bids fell well short of the guide price of 75,000 but eventually

0:37:210:37:27

interest intensified to where we rejoin the bidding at £80,000.

0:37:270:37:33

At £80,000, all done with...

0:37:330:37:36

81. At 81.

0:37:360:37:37

82.

0:37:370:37:39

83. 84.

0:37:390:37:41

85? 85.

0:37:410:37:43

At 85. 86.

0:37:430:37:45

At £85,000, we are selling it at £85,000.

0:37:460:37:52

You've got it, sir. Thank you at 85.

0:37:530:37:55

The successful bid came from Jez,

0:37:550:37:58

who jointly purchased with his wife, Rachel.

0:37:580:38:01

They live just south of Ashbourne

0:38:010:38:03

and are awaiting the council's planning decision

0:38:030:38:07

on turning their £85,000 purchase into residential use.

0:38:070:38:10

Jez is a consulting engineer

0:38:100:38:12

and Rachel looks after their smallholding.

0:38:120:38:14

We met up after they came through the downstairs front door.

0:38:140:38:18

Rachel and Jez, congratulations. What a fantastic property.

0:38:180:38:21

What do you plan on doing with it?

0:38:210:38:23

I was thinking a couple of one-bed bedsits but I got overruled.

0:38:230:38:28

It's got to be a character cottage, a two-bedroom character cottage.

0:38:280:38:34

Not two cottages but one cottage with, like, open plan down here,

0:38:340:38:42

upstairs two bedrooms and a bathroom.

0:38:420:38:44

We are not going to be moving stairs or anything majorly structural.

0:38:440:38:48

We've got a stud wall we want to take out, it's just behind us here,

0:38:480:38:52

so we'll lose that and open this whole area up

0:38:520:38:54

and then hopefully have the downstairs just completely open plan

0:38:540:38:57

so the kitchen will run through into a dining area

0:38:570:39:00

into the living area and hopefully that will

0:39:000:39:04

appeal to our younger target audience, if you like, yeah.

0:39:040:39:08

I think that will look absolutely amazing.

0:39:080:39:11

One slight fly in the ointment I can see is having an upstairs

0:39:110:39:14

and downstairs front door all in one property.

0:39:140:39:17

Hm, now how is that going to work?

0:39:170:39:19

Because we're having it open plan,

0:39:190:39:22

we are planning to leave both doors in place but in all likelihood we

0:39:220:39:25

expect that somebody's furniture will probably cover that door there.

0:39:250:39:28

That one might not be so useful.

0:39:280:39:31

But to leave it flexible for the new buyer,

0:39:310:39:33

we're going to leave both doors in place.

0:39:330:39:36

But you are going to open this internal door up.

0:39:360:39:38

-Oh, definitely, yeah.

-Cos you don't want to go out the front door

0:39:380:39:41

and back round to get in, do you?

0:39:410:39:43

So what sort of budget have you guys got to convert this?

0:39:430:39:46

Hm.

0:39:460:39:48

Well, it was 15,000.

0:39:480:39:51

Um...

0:39:510:39:53

It depends if we find when we have to do the damp work,

0:39:530:39:58

if there is some extra, I don't really want to go over 15.

0:39:580:40:03

It will depend on certain things like if we did go the whole hog

0:40:030:40:08

and swapped windows for plastic and so on.

0:40:080:40:11

Yeah, we want to keep character.

0:40:110:40:13

-Absolutely.

-We want those to stay.

0:40:130:40:14

Hold on a minute. Are you even allowed to do that?

0:40:140:40:17

I mean, surely there's some restriction on these properties?

0:40:170:40:20

It's a conservation area but when I spoke to the planning officer

0:40:200:40:24

he said I could change the windows.

0:40:240:40:26

If you notice up the row, they are all plastic.

0:40:260:40:29

They look like sash, plastic needs to look like sash.

0:40:290:40:33

But they're plastic.

0:40:330:40:35

Well, I hope they don't take the plastic route.

0:40:350:40:38

I know it can cost more to repair wooden frames

0:40:380:40:41

but they really are so beautiful.

0:40:410:40:43

This is the couple's first foray into property developing

0:40:430:40:46

but engineer Jez does have some experience as he used to run

0:40:460:40:50

a property maintenance company with his brother.

0:40:500:40:53

Do you feel that you can make money out of this property?

0:40:540:40:57

Is that your reason behind doing this?

0:40:570:41:00

-Most definitely.

-Yes.

0:41:000:41:02

Yeah, I'm going through a midlife crisis at the moment

0:41:020:41:04

and I've got to fund it some way

0:41:040:41:05

so this seemed like a good idea.

0:41:050:41:07

What part are you going to play?

0:41:070:41:09

-Are you going to be very busy sourcing everything? Painting?

-No.

0:41:090:41:14

-No!

-I'm not very good at painting.

0:41:140:41:17

Or pulling walls down or anything like that.

0:41:170:41:20

I'll just keep track of the spend

0:41:200:41:23

and also make sure he puts in my ideas

0:41:230:41:26

for the kitchen and what I want it to look like.

0:41:260:41:31

Hold on a minute. Your job sounds quite easy!

0:41:330:41:36

Tell him off if he is spending too much money,

0:41:360:41:38

just make sure that he puts in all the bits you want him to put in.

0:41:380:41:40

Yes. Make sure he picks the right tiles

0:41:400:41:43

and things like that that I like and the flooring.

0:41:430:41:46

I want granite but it's whether...

0:41:460:41:49

It depends on the budget, how far...

0:41:500:41:53

It's £15,000.

0:41:530:41:55

I just want to remind you, it's £15,000.

0:41:550:41:57

-Yeah.

-Granite!

-And there's a lovely feature fireplace

0:41:570:42:00

that you can't really see at the moment,

0:42:000:42:02

which is round, which is very unusual.

0:42:020:42:06

So hope to make a feature of that.

0:42:060:42:08

I don't know if we'll be able to reinstate the chimney.

0:42:080:42:11

Going to have to have a look at that,

0:42:110:42:14

get some professionals on that.

0:42:140:42:16

Chimneys, granite, Windows.

0:42:160:42:18

I'll say it again - 15 grand?!

0:42:180:42:20

And they've set a three-month timescale aside,

0:42:200:42:23

planning permitting.

0:42:230:42:24

Rachel won't be helping because she's already got her hands full.

0:42:240:42:28

Well, Jez, think you're on your own here.

0:42:280:42:31

Rachel is quite a fan of animals and seems to have accumulated a zoo

0:42:310:42:34

at home so that keeps us quite busy.

0:42:340:42:36

So how many animals have you got?

0:42:360:42:39

About 50 at the last count.

0:42:390:42:42

50 animals!

0:42:420:42:44

Seriously?

0:42:440:42:46

Dogs, cats, rabbits, guinea pigs, pigs, sheep, horses.

0:42:460:42:51

-What have I missed?

-Have you got kids?

0:42:510:42:54

Yeah, that's the worst animal of the lot.

0:42:540:42:56

-How many kids have you got?

-One.

-One child and all those animals.

0:42:560:43:00

Good luck with this property, guys. I'm really excited.

0:43:000:43:03

-Rachel, thank you. Jez, thank you very much.

-Thank you.

-Thanks.

0:43:030:43:06

Well, Jez and Rachel are a busy couple,

0:43:070:43:10

so they've got the property to renovate, 50 animals to look after

0:43:100:43:14

and Jez's midlife crisis to contend with. How will they get on?

0:43:140:43:19

Join me later in the programme and you can find out.

0:43:190:43:22

So we've seen how one of the properties has turned out.

0:43:250:43:28

What about the other two?

0:43:280:43:29

Yes, will they be celebrating success or licking their wounds?

0:43:290:43:32

Let's find out.

0:43:320:43:35

Back now to Carlisle and this three-bed semi,

0:43:350:43:37

and it had all the classic symptoms of a tired house.

0:43:370:43:41

Polystyrene tiles on the ceilings,

0:43:410:43:43

gas fires which looked past their sell by date,

0:43:430:43:46

wallpaper with borders.

0:43:460:43:49

All very 1980s. There was a downstairs bathroom of the kitchen.

0:43:490:43:53

I did try to be more positive upstairs.

0:43:530:43:56

Well, on the plus side, three good-sized bedrooms.

0:43:560:43:59

On the downside, no toilet.

0:43:590:44:02

On the upside, this room in itself,

0:44:020:44:05

big enough easily to fit a toilet and bathroom in.

0:44:050:44:09

So that's great news.

0:44:090:44:11

Someone else who looked on the bright side

0:44:110:44:14

was former MoD policeman John, who bought this house with his wife Vera

0:44:140:44:17

and son Steve for him to live in.

0:44:170:44:19

Just one small issue.

0:44:190:44:21

Steve didn't know this at the time.

0:44:210:44:23

The first I heard of it was about half an hour ago,

0:44:240:44:27

so as far as I knew they were going

0:44:270:44:28

to move into it themselves but I'm quite happy.

0:44:280:44:30

Right, so, half an hour ago you heard that actually

0:44:300:44:33

-you might be living here.

-Yes.

0:44:330:44:34

-Moving out of the house you're in.

-Yes.

0:44:340:44:36

You are going to be forced out of your home by your parents.

0:44:360:44:40

Yes. Shocking, isn't it?

0:44:400:44:43

Steve seems to be taking everything in his stride and he did want

0:44:430:44:47

to upsize while his parents had plans on downsizing.

0:44:470:44:50

Are you following? I'm not sure I am

0:44:500:44:53

but anyway the timescale was also described as "no rush"

0:44:530:44:56

so that may explain why we're back two years later.

0:44:560:45:01

Right away, you can see the layout has improved for the better.

0:45:030:45:05

The old bathroom is gone

0:45:050:45:07

and the wall has been removed to make a much more usable kitchen

0:45:070:45:11

with just enough room to get a table in.

0:45:110:45:13

They have removed the old outside loo

0:45:150:45:17

and combined it with space from the kitchen

0:45:170:45:20

to have a downstairs shower room.

0:45:200:45:21

Very smart.

0:45:210:45:23

New French doors lead in to the garden

0:45:290:45:32

and a new roof over their old store is a clever use of space.

0:45:320:45:35

There is no sign of that tired old semi now.

0:45:350:45:39

There's been a little change upstairs too,

0:45:410:45:44

meaning an en-suite in the master bedroom has been achieved,

0:45:440:45:47

which I have to say is a pretty generous size.

0:45:470:45:50

And as well as all the cosmetic work,

0:45:530:45:56

the entire house has been rewired, replumbed and replastered.

0:45:560:46:00

And clearly someone's moved in.

0:46:050:46:07

But the question is, is it an upsizer or a downsizer?

0:46:070:46:11

I think the clue is right there.

0:46:110:46:14

Yes, downsizers John and Vera

0:46:140:46:16

have their fingerprints all over this one.

0:46:160:46:19

Time for Steve to brief us.

0:46:200:46:22

At the previous interview, it was sort of sprung on me

0:46:240:46:27

that my parents had bought this with a view to me moving into it,

0:46:270:46:31

which might have been an option

0:46:310:46:33

but, frankly for me, the parking was going to be an issue.

0:46:330:46:37

I've got a large vehicle that just wouldn't fit

0:46:370:46:40

in the parking area there.

0:46:400:46:41

But I did like the layout and the general size of these houses,

0:46:410:46:45

so I started looking in the local area and made an offer

0:46:450:46:49

and bought one just round the corner,

0:46:490:46:52

which is lucky because subsequently the house I was living in

0:46:520:46:56

flooded for the second time I'd been living there

0:46:560:47:00

so I had somewhere to go to.

0:47:000:47:02

Steve was one of the many unfortunate people

0:47:020:47:04

affected by the floods in the city but at least he had somewhere to go.

0:47:040:47:09

As it turned out, John and Vera needed somewhere to go, too.

0:47:090:47:13

The original plan was to do it up slowly and then see how it went from

0:47:130:47:18

there. Of course, having then just managed to sell your own house,

0:47:180:47:21

it was a rush to get the basic level finished so they could then move in

0:47:210:47:27

and then it's doing everything else to the house

0:47:270:47:30

whilst you're in it with all your stuff.

0:47:300:47:32

-Horrendous.

-Yeah. That caused a lot of delay.

0:47:320:47:36

I would never, ever recommend buying a house,

0:47:360:47:39

living in it and doing it up at the same time. Never.

0:47:390:47:43

John has learnt the hard way.

0:47:430:47:45

Contractors knocking down walls, doing electrics and plumbing,

0:47:450:47:49

replacing windows, kitchens and bathrooms.

0:47:490:47:52

Well, they're all messy and can be really inconvenient and stressful.

0:47:520:47:56

But it's all done now.

0:47:560:47:57

They had set a maximum budget of £14,000,

0:47:570:48:01

so how much have they spent?

0:48:010:48:03

We actually spent, apart from the house,

0:48:060:48:09

38,000-ish.

0:48:090:48:13

And the house cost 53, so a total of 91.

0:48:140:48:18

Yeah.

0:48:180:48:21

Wow. Well, that's almost three times their original budget,

0:48:230:48:26

which I did think was quite healthy, so where has all the money gone?

0:48:260:48:30

Luxury kitchen.

0:48:320:48:34

-Yeah.

-Took a large chunk of money.

0:48:340:48:36

The bathroom upstairs took another chunk.

0:48:360:48:40

Double glazing. Builders.

0:48:400:48:43

Who've done a good job.

0:48:430:48:46

And, you know,

0:48:460:48:48

-it all adds up.

-It all adds up. It was all worth it.

0:48:480:48:52

Vera and John aren't planning on selling any time soon

0:48:530:48:56

but let's see what a couple of estate agents make of the house.

0:48:560:49:00

The way they've changed the layout is a really great idea.

0:49:010:49:04

These properties traditionally normally have the bathroom

0:49:040:49:06

downstairs, off the back of the kitchen, which is not ideal.

0:49:060:49:10

What they've done here is they've created a superb kitchen

0:49:100:49:12

with, you know, great features in there.

0:49:120:49:15

They've also retained the shower room downstairs,

0:49:150:49:17

which is a big bonus, but then they've also taken a piece

0:49:170:49:19

off the larger bedroom at the first floor

0:49:190:49:21

and created a bathroom for the upstairs as well.

0:49:210:49:24

The main selling point of the property, I would say,

0:49:240:49:27

the quality finish of the kitchen. It is modern

0:49:270:49:29

and it's what everybody's looking for in this day and age.

0:49:290:49:32

Now this is clearly a lovely home and John and Vera are not looking to

0:49:320:49:36

sell but have they gone overboard in spending more than they can get

0:49:360:49:41

back on the market, with a total of 91 grand?

0:49:410:49:44

If the property was to go on the sales market,

0:49:440:49:47

I think it would achieve between 90 to £95,000.

0:49:470:49:50

I think on the open market for a general sale

0:49:500:49:54

we would expect to achieve somewhere in the region

0:49:540:49:57

of between 90 and £95,000.

0:49:570:49:59

Very surprised at that. That's a good price.

0:50:000:50:02

I thought about 85.

0:50:020:50:04

-I said roughly 100.

-I thought about 85 as well,

0:50:040:50:07

-so...

-Yeah.

-Excellent.

-Sell it. Go on, quick! Sell it!

0:50:070:50:12

Oh, no! Not another change of plan.

0:50:120:50:15

But I think John is kidding.

0:50:150:50:17

And I'm sure a potential £4,000 profit

0:50:170:50:20

is not quite enough to get them to put up

0:50:200:50:22

with the mess of a renovation again any time soon.

0:50:220:50:26

-We could work together again.

-Oh, yeah.

0:50:260:50:29

Providing you don't, you know, pop your clogs first.

0:50:290:50:31

Oh, well, yeah, of course, yeah.

0:50:310:50:34

Don't forget, my mum lived till she was 92 so...

0:50:340:50:37

Earlier, I was in Ashbourne in Derbyshire.

0:50:430:50:46

This market town was home to a £75,000 auction lot

0:50:460:50:50

with not one but two entrances.

0:50:500:50:53

So it's the Homes Under The Hammer game show.

0:50:530:50:56

Now, our grand prize is located behind one of the doors,

0:50:560:51:00

so which one will you select?

0:51:000:51:03

Shout your answers out now.

0:51:030:51:05

MUSIC: Door Number Two by Walter Becker

0:51:050:51:08

Door number two, leading to the downstairs area,

0:51:150:51:18

was the consolation prize, with a bit of damp and strip lighting.

0:51:180:51:23

A cuddly toy might have softened the rather office feel here.

0:51:230:51:27

After parting with 85 grand, couple Rachel and Jez came along

0:51:270:51:31

and I'll give you a starter for ten

0:51:310:51:34

if you can tell me whose plan was going to win through.

0:51:340:51:38

I was thinking a couple of one-bed bedsits but I got overruled.

0:51:390:51:44

It's got to be a character cottage. Like, open plan down here,

0:51:440:51:50

upstairs two bedrooms and a bathroom.

0:51:500:51:52

And all in a timescale of three months,

0:51:540:51:57

with Jez doing the work

0:51:570:51:58

and Rachel keeping an eye on their 15-grand budget.

0:51:580:52:02

Six months on and...

0:52:020:52:04

The house is made whole again.

0:52:080:52:10

It still has two doors but, as promised,

0:52:100:52:12

it's one house with a connecting door to the staircase

0:52:120:52:15

which is still to be decorated and re-carpeted.

0:52:150:52:18

And while inside, it's not quite finished,

0:52:180:52:22

there have been changes which are much,

0:52:220:52:24

much more sympathetic to the Georgian feel.

0:52:240:52:27

Over to you, Jez.

0:52:270:52:28

So this bit of the house has seen quite a change.

0:52:380:52:40

Originally, there was a stud wall here.

0:52:400:52:43

Somebody had separated off a bit of an office

0:52:430:52:45

and then this was all open space with a little kitchenette.

0:52:450:52:48

We've taken all of that out and we've put our own kitchen in

0:52:480:52:50

with a different stud wall and quite a quirky-shaped kitchen

0:52:500:52:54

to try and give a bit more space for anybody who's sat in there working.

0:52:540:52:57

And when we uncovered the office area,

0:52:570:53:00

we found this cast-iron fireplace which is quite quirky with its round

0:53:000:53:05

hole in the middle, if you like, and we've just updated it.

0:53:050:53:07

We like the space, though. It's turned out really nice and light.

0:53:070:53:11

The big windows really help keep the area really light and the tall

0:53:110:53:15

ceilings help make it feel really quite a big room really,

0:53:150:53:18

considering what its floor area is.

0:53:180:53:22

Jez has got the worktops to fit and the kitchen is just about there.

0:53:220:53:25

What he has definitely resolved is that damp issue.

0:53:250:53:28

So when we got the property,

0:53:290:53:32

we did have some damp along this back wall

0:53:320:53:35

and the property backs onto the neighbouring property

0:53:350:53:38

with a small space.

0:53:380:53:39

We've got this inspection hatch which we've had to keep,

0:53:390:53:42

which gets you to a drain, an outside drain,

0:53:420:53:45

which takes the gutter water from above.

0:53:450:53:48

What we found was that the gutters were not in very good condition and

0:53:480:53:51

they were wetting the back of the wall and causing the damp.

0:53:510:53:53

We had to keep the inspection hatch just so we can get to those gutters,

0:53:530:53:56

obviously. When it's finished,

0:53:560:53:59

it'll be nice and white and fit in nicely with a frame and so on

0:53:590:54:02

but now we've fixed all of that we've got a nice, dry wall with

0:54:020:54:05

a lot of installation into it

0:54:050:54:06

to help make the house really warm as well.

0:54:060:54:08

Well, our guided tour continues with the unrecognisable upstairs.

0:54:080:54:13

So, this part of the house up here

0:54:150:54:17

used to be one great big room all the way across.

0:54:170:54:20

We've divided it up to give ourselves a big double bedroom

0:54:200:54:23

on the end, a nice little single bedroom,

0:54:230:54:25

which has still got enough space in it or could become an office.

0:54:250:54:28

On the very end, we've managed to open up a wall

0:54:280:54:31

to give us a bit more room in the bathroom.

0:54:310:54:33

We've got a nice pea-shaped bath

0:54:330:54:35

with a nice generous shower area over it.

0:54:350:54:37

Again, it's all hopefully trying to hark back to the house being an old

0:54:370:54:41

Georgian house but making it look new and fresh and up-to-date.

0:54:410:54:45

I am so glad they took my guidance with the lovely windows

0:54:560:55:00

and haven't gone for plastic.

0:55:000:55:02

Jez has had help from his brother John

0:55:020:55:04

but there have been some hiccups.

0:55:040:55:06

The cracked walls meant new plastering was required throughout.

0:55:060:55:09

It's been rewired, new central heating,

0:55:090:55:12

and there was, of course, red tape getting that change of use

0:55:120:55:15

and sorting out the utilities.

0:55:150:55:17

All this meant an additional £3,000 for commercial rates

0:55:170:55:21

and utilities - an unforeseen cost.

0:55:210:55:23

So how has the 15-grand budget fared?

0:55:230:55:27

I know I could have done it for 15,000

0:55:280:55:31

but Rachel wanted it to be a higher-end property

0:55:310:55:33

so we have ended up spending more money and I think

0:55:330:55:36

when final bills come in,

0:55:360:55:39

we'll be all-in for around about 25,000 when it sold, so, yeah,

0:55:390:55:43

quite a bit over but some of those issues were with getting rid of the

0:55:430:55:47

dual electricity and gas and the amount of insulation

0:55:470:55:51

that's gone into the property has cost a fortune.

0:55:510:55:54

I'll be happy with the end result

0:55:540:55:56

and hopefully it'll be special and just attract that special person

0:55:560:55:59

who will love the property for what it is.

0:55:590:56:02

Time to see if two local estate agents think this Georgian house

0:56:020:56:06

will appeal to the market here,

0:56:060:56:08

starting with the agent who saw it the first time.

0:56:080:56:11

I think the changes are really good.

0:56:130:56:15

I don't think the layout was that easy to foresee.

0:56:150:56:18

I think now with the ground floor being the kitchen

0:56:180:56:20

and the lounge and the two bedrooms

0:56:200:56:22

on the first floor, it makes great sense.

0:56:220:56:24

Things that stand out for me,

0:56:240:56:26

I really like the original features that have been kept in the property.

0:56:260:56:29

The good use of space, dividing up the upstairs,

0:56:290:56:33

has been done very well.

0:56:330:56:34

Jez and Rachel will have spent a total of £110,000 on the property

0:56:340:56:39

when it's actually finished, so is there some profit in it for them?

0:56:390:56:43

If I were to market this property,

0:56:450:56:47

I would market the property at £125,000.

0:56:470:56:50

In the current market,

0:56:500:56:52

I think the property will be worth around £125,000.

0:56:520:56:55

That £125,000 valuation would mean a potential pre-tax profit

0:56:550:57:00

of 15 grand. So what does Jez think of that?

0:57:000:57:04

That's excellent. To be honest with you,

0:57:040:57:06

125,000 is exactly the number we were aiming at for sale.

0:57:060:57:10

It's a shame we spent a bit more than I wanted,

0:57:100:57:14

but hopefully it's still a decent return. Better than the bank!

0:57:140:57:17

So we'd be quite happy with that, yeah.

0:57:170:57:20

Jez and Rachel chose a rather tricky property to renovate but it would

0:57:200:57:24

appear that they like it that way.

0:57:240:57:27

We do like old property.

0:57:280:57:30

We've lived in old property and done them up before.

0:57:300:57:33

They always present challenges but it's nice at the end

0:57:330:57:37

to have something that's got its own character

0:57:370:57:39

and doesn't just look like another box

0:57:390:57:42

like you'd see on a new housing estate so, yeah,

0:57:420:57:45

we'll be back again at the auctions from more

0:57:450:57:48

and probably another old property as well.

0:57:480:57:50

Well, property development is not as easy as it sometimes sounds.

0:57:530:57:58

Yeah, but if you work hard

0:57:580:57:59

and you've got a bit of luck on your side it can be very rewarding.

0:57:590:58:03

Yeah, so make sure you join us next time

0:58:030:58:05

for more tales from the auction house on Homes Under The Hammer.

0:58:050:58:07

ALL: Goodbye.

0:58:070:58:09

It is a family affair as two couples and a father and son buy property at auction to do up. Dion looks round a two-bed semi in Wellington in Telford, and Martin sizes up a three-bed in Carlisle. Lucy falls in love with two Georgian cottages which are used as offices but crying out to be converted back to a home.