0:00:02 > 0:00:03There are many different ways you can go
0:00:03 > 0:00:05when dealing with property development.
0:00:05 > 0:00:08What you've got to do is find the best way that suits your project.
0:00:08 > 0:00:11Yes, but in the end, if everything goes according to plan,
0:00:11 > 0:00:13you could make a healthy profit.
0:00:13 > 0:00:17One place to potentially buy your next property project is at
0:00:17 > 0:00:19your local auction.
0:00:44 > 0:00:47You know, it can often feel like there are too many choices to make
0:00:47 > 0:00:49in the world of property development.
0:00:49 > 0:00:52Yes, decision fatigue is something most developers
0:00:52 > 0:00:53have experienced at some point.
0:00:53 > 0:00:56Yes, but did all today's buyers choose wisely?
0:00:56 > 0:00:57Let's find out.
0:00:59 > 0:01:01I'm in the lovely Hampshire countryside.
0:01:01 > 0:01:03I'm a man with a plan.
0:01:04 > 0:01:07Now, the front of the property will be there.
0:01:08 > 0:01:11In Bilston, in the West Midlands,
0:01:11 > 0:01:14there is only one thing to curb my enthusiasm at this terraced house.
0:01:14 > 0:01:16The issue you've got is this.
0:01:16 > 0:01:19It's a kerb.
0:01:19 > 0:01:22And Lucy has to level with you and explain why she's a fan of bungalows
0:01:22 > 0:01:24like this one in Kent.
0:01:24 > 0:01:26I'm quite a lazy person.
0:01:26 > 0:01:28I don't normally like running up and down stairs.
0:01:29 > 0:01:32All these properties were sold at auction, and we'll find out
0:01:32 > 0:01:35who bought them and what they paid when they went under the hammer.
0:01:35 > 0:01:37Third and last time...
0:01:44 > 0:01:47It's hard to believe, but this beautiful landscape is
0:01:47 > 0:01:50just eight miles from the busy centre of Southampton.
0:01:51 > 0:01:54This is Curdridge in Hampshire.
0:01:54 > 0:01:58And unsurprisingly, this is a rural town in high demand.
0:01:58 > 0:02:00That makes today's lot even more intriguing.
0:02:03 > 0:02:07So, we're off the busy main road, down a private lane.
0:02:07 > 0:02:09But today, I'm not here to see a property.
0:02:09 > 0:02:11I'm here to see a plot of land
0:02:11 > 0:02:15with a guide price of £240,000 plus.
0:02:18 > 0:02:22# Now we live in wonderland and walk down leafy lanes... #
0:02:23 > 0:02:27A leafy lane set back from the road in English countryside
0:02:27 > 0:02:28might seem idyllic.
0:02:28 > 0:02:30But remember, as it's a private road,
0:02:30 > 0:02:34you'll be partly responsible for its maintenance.
0:02:34 > 0:02:36But it's well worth a walk along,
0:02:36 > 0:02:38as the plot I'm here to see is enormous.
0:02:42 > 0:02:45What a great piece of land, and symmetrical too.
0:02:45 > 0:02:48It was part of the house just over that fence,
0:02:48 > 0:02:51but they've sold it on separately, with planning permission.
0:02:51 > 0:02:53But the planning permission, which will surprise you,
0:02:53 > 0:02:56is only for a three-bed bungalow.
0:02:56 > 0:02:57I'd want more than that.
0:02:57 > 0:02:59# Never enough, never enough, never enough... #
0:02:59 > 0:03:03I'm not being greedy, but the plot is almost a quarter of an acre.
0:03:03 > 0:03:07So you could get a lot more than a three-bed, one-storey bungalow.
0:03:09 > 0:03:15# I just want more... #
0:03:16 > 0:03:18So what could you fit on this piece of land?
0:03:18 > 0:03:20For me, a nice two-storey,
0:03:20 > 0:03:23three- or even four-bed property would be perfect.
0:03:23 > 0:03:26But what you need to know, and what you should know is,
0:03:26 > 0:03:28if you've done your homework, in the last couple of years,
0:03:28 > 0:03:30planning has already been refused
0:03:30 > 0:03:33to go into the loft space of that bungalow.
0:03:33 > 0:03:35It might not be as easy as you think.
0:03:38 > 0:03:41The plans that do exist today were granted on appeal.
0:03:41 > 0:03:44So this has never been a straightforward site.
0:03:44 > 0:03:46Part of the conditions of the permissions means
0:03:46 > 0:03:49it has no permitted development rights.
0:03:49 > 0:03:53So forget getting into the roof space using that legislation.
0:03:53 > 0:03:58To complicate things, this house falls under the CE23 policy,
0:03:58 > 0:04:01which promotes smaller houses that might be more within
0:04:01 > 0:04:03the financial reach of locals.
0:04:03 > 0:04:06This bungalow will be classed as affordable housing,
0:04:06 > 0:04:10due to it being just under 1,200 square feet.'
0:04:12 > 0:04:15# It ain't easy
0:04:15 > 0:04:19# It ain't easy
0:04:19 > 0:04:24# It ain't easy to get to heaven when you're going down... #
0:04:24 > 0:04:26No, it won't be easy to change these plans.
0:04:26 > 0:04:30But it's nice the local council are attempting to make access to
0:04:30 > 0:04:32affordable housing easier where they can.
0:04:33 > 0:04:35Thankfully, from a developer's point of view,
0:04:35 > 0:04:38it looks like drainage has been put here.
0:04:38 > 0:04:43Those foundation works give indication that building is ongoing.
0:04:43 > 0:04:47This keeps the planning in place, which otherwise could have lapsed.
0:04:48 > 0:04:52Now since it looks like you might be scuppered building anything bigger,
0:04:52 > 0:04:54let's focus on the plans that are in place.
0:04:57 > 0:05:01I just, by chance, happened to come across the plans for this property.
0:05:01 > 0:05:05Now, the front of the property will be there,
0:05:05 > 0:05:07with lovely gardens spreading just to the side.
0:05:08 > 0:05:11South facing's there, west facing over there -
0:05:11 > 0:05:16a three-bedroom bungalow with lounge and dining room combined.
0:05:16 > 0:05:20Now, it's a very attractive design they have here on paper.
0:05:20 > 0:05:24And for a three-bed bungalow, it's a very, very nicely laid out property.
0:05:26 > 0:05:30To find out a bit more about this site, guided at £240,000 plus,
0:05:30 > 0:05:33we've asked along a local estate agent
0:05:33 > 0:05:35to fill us in a bit more on the affordable housing policy.
0:05:37 > 0:05:39Well, affordable housing is a big issue.
0:05:39 > 0:05:42I mean, there aren't enough properties being built.
0:05:42 > 0:05:45And that's the reason why they're scaling down the size of some
0:05:45 > 0:05:49properties, to allow the people who have not got the income to buy,
0:05:49 > 0:05:51you know, bigger properties.
0:05:51 > 0:05:54But, quite frankly, you need high income to buy
0:05:54 > 0:05:56even a smaller property in this location.
0:05:56 > 0:05:59Houses big or small don't come cheap around here.
0:05:59 > 0:06:02At the moment, the average house price is
0:06:02 > 0:06:04around half a million pound.
0:06:04 > 0:06:07But what if a buyer doesn't want to build a three-bed bungalow?
0:06:07 > 0:06:10Is there any hope of changing the permission?
0:06:12 > 0:06:15You need a planning consultant to advise you.
0:06:15 > 0:06:19But it's probably a stage-by-stage over a period of time,
0:06:19 > 0:06:22and eventually you should, hopefully,
0:06:22 > 0:06:24get a larger property on this site.
0:06:25 > 0:06:27But if you were to build a three-bed bungalow
0:06:27 > 0:06:30that planning permission has been granted for,
0:06:30 > 0:06:33what could you expect to fetch on the resale market?
0:06:35 > 0:06:39Well, in my opinion, a three-bedroom bungalow in this location,
0:06:39 > 0:06:43should attract a figure in the region of £600,000.
0:06:43 > 0:06:45Wow! 600 grand doesn't sound very affordable
0:06:45 > 0:06:47in most parts of the country.
0:06:47 > 0:06:50And if you manage to get permission to turn it into a four-bed bungalow,
0:06:50 > 0:06:55the agent thinks it could be worth up to 800 grand.
0:06:55 > 0:06:58If you get this land for anywhere near the guide price of £240,000,
0:06:58 > 0:07:02and spend 200 grand on it, you could be quids in,
0:07:02 > 0:07:04even with a smaller property.
0:07:05 > 0:07:09Finding a piece of land with planning permission in this area
0:07:09 > 0:07:10is incredibly rare.
0:07:10 > 0:07:12The plans are for a three-bed bungalow.
0:07:12 > 0:07:14Now, if you want more than that, and bigger than that,
0:07:14 > 0:07:16it might be difficult.
0:07:16 > 0:07:19But let's see who wanted it when it went under the hammer.
0:07:19 > 0:07:22Undoubtedly one of Southampton and Hampshire's finest areas.
0:07:22 > 0:07:25Who'll get me under way? Someone open the bidding.
0:07:25 > 0:07:27225,000.
0:07:27 > 0:07:28Do I have an opening bid?
0:07:28 > 0:07:32225, I have, nice and promptly.
0:07:32 > 0:07:33Looking for 230.
0:07:34 > 0:07:37There's a statement. 250,000.
0:07:37 > 0:07:40Good bidding, sir. Straight in at stamp threshold.
0:07:40 > 0:07:41252.
0:07:41 > 0:07:45Yes? 252, he comes over the top.
0:07:45 > 0:07:46254.
0:07:46 > 0:07:48256.
0:07:48 > 0:07:50258.
0:07:50 > 0:07:52260 we have.
0:07:52 > 0:07:54262.
0:07:54 > 0:07:56264.
0:07:56 > 0:07:58266.
0:07:58 > 0:07:59268.
0:07:59 > 0:08:02No? 268.
0:08:02 > 0:08:041,000?
0:08:04 > 0:08:05269.
0:08:05 > 0:08:07270, he's in at.
0:08:07 > 0:08:09New bid. 271.
0:08:09 > 0:08:11Have a little think, we'll see where we go.
0:08:11 > 0:08:12272.
0:08:12 > 0:08:14273.
0:08:14 > 0:08:16274.
0:08:16 > 0:08:17275.
0:08:17 > 0:08:19276.
0:08:19 > 0:08:22277, 278,
0:08:22 > 0:08:24279, 280.
0:08:24 > 0:08:27Do you want to make it two, might knock him out? 282?
0:08:27 > 0:08:28282.
0:08:28 > 0:08:29284.
0:08:29 > 0:08:31286.
0:08:31 > 0:08:33288.
0:08:33 > 0:08:35290.
0:08:35 > 0:08:36292.
0:08:36 > 0:08:38294.
0:08:38 > 0:08:40296.
0:08:40 > 0:08:41298.
0:08:41 > 0:08:43300.
0:08:43 > 0:08:46Nope. You don't get these every day of the week.
0:08:46 > 0:08:50It's £300,000 that we have here for the first time,
0:08:50 > 0:08:52300,000, I have, for the second.
0:08:52 > 0:08:57It's £300,000, going, third, and the final time.
0:08:58 > 0:09:01Well done sir, 300, 7014.
0:09:01 > 0:09:04And the buyer is a familiar face to Homes Under the Hammer -
0:09:04 > 0:09:05it's Mick!
0:09:05 > 0:09:07# Do you
0:09:07 > 0:09:10# Re-me-mber me? #
0:09:11 > 0:09:13Running a family building business
0:09:13 > 0:09:15with wife Penny and sons John and Ryan,
0:09:15 > 0:09:17I first met them in 2014
0:09:17 > 0:09:20when they renovated a rundown four-bed in Southampton.
0:09:25 > 0:09:28Now, for 300 grand, they've got themselves a plot,
0:09:28 > 0:09:29but what's their plans?
0:09:31 > 0:09:35- Mick and John, nice to see you. - Nice to see you.
0:09:35 > 0:09:38Tell us what you're going to do with this big plot.
0:09:38 > 0:09:41They've had plans drawn up, the previous owners, already,
0:09:41 > 0:09:43to build a three-bedroom bungalow.
0:09:43 > 0:09:45We would like to take it one step further,
0:09:45 > 0:09:48keeping it a three-bedroom bungalow,
0:09:48 > 0:09:51but putting some bedrooms in the loft with some dormers.
0:09:51 > 0:09:54Whether we get away with that or not, I don't know, with the council.
0:09:54 > 0:09:55How're you going to get round it?
0:09:55 > 0:09:57We're going to fight them as we always do.
0:09:57 > 0:09:59- Fight them on the beaches? - Basically.
0:09:59 > 0:10:02No, I mean, you've got to sit down and talk to them, basically.
0:10:03 > 0:10:05That's what we going to do. See where we get.
0:10:05 > 0:10:06OK, so what do you envisage,
0:10:06 > 0:10:09whereabouts on this plot are you thinking of putting the house?
0:10:09 > 0:10:12Will it start right at the front, will you have it set back?
0:10:12 > 0:10:16Obviously drive in, and then I'm hoping to get a car port over there.
0:10:16 > 0:10:19At the moment they've just got parking for two cars,
0:10:19 > 0:10:22I'd like to have a car port at least or maybe a garage
0:10:22 > 0:10:26and then the house will be somewhere in that area there.
0:10:26 > 0:10:30North facing there, so that'll be the south facing garden,
0:10:30 > 0:10:32you've got the sun, perfect.
0:10:32 > 0:10:35And I think it'll be a fantastic house.
0:10:36 > 0:10:38# If you don't get what you want
0:10:40 > 0:10:43# If you don't get it you gotta let me be... #
0:10:43 > 0:10:45If Mick and John don't get what they want,
0:10:45 > 0:10:47they can build a three-bed bungalow.
0:10:47 > 0:10:51But they are looking at ways around the CE23 ruling,
0:10:51 > 0:10:55including adding a conservatory which would add square footage
0:10:55 > 0:10:58but obviously wouldn't increase the height of the house.
0:10:58 > 0:11:01Still, it's always good to have a plan to fall back on.
0:11:04 > 0:11:08Mick, what's your role going to be, John, what's your role going to be?
0:11:08 > 0:11:11I'm going to be on-site, hands-on work.
0:11:11 > 0:11:13- Getting dirty?- Yeah, getting dirty. - Getting stuck in.- Yeah.
0:11:13 > 0:11:15And the boss?
0:11:15 > 0:11:20- Yeah!- The last couple of years, I've taken a step back,
0:11:20 > 0:11:23I do more of the organising and the ordering and playing golf really.
0:11:23 > 0:11:26THEY LAUGH Hands dirty or playing golf,
0:11:26 > 0:11:28I know which one I'd choose, let me tell you.
0:11:28 > 0:11:30- That's it, yeah.- Tell us about the actual build you're looking to do.
0:11:30 > 0:11:32What kind of spec are you looking?
0:11:32 > 0:11:36Michelmersh bricks, which are obviously...
0:11:36 > 0:11:38Yes, hi spec.
0:11:38 > 0:11:42And handmade clay tiles, small tiles, yeah, so it would be nice.
0:11:42 > 0:11:45We're going to probably go upmarket a bit
0:11:45 > 0:11:48with the kitchens and the bathrooms and the electrics,
0:11:48 > 0:11:51and, you know, try and get a very good spec.
0:11:51 > 0:11:53- In keeping, I suppose, with what's around you?- Yeah, it's the area.
0:11:53 > 0:11:56We're not going to skimp.
0:11:56 > 0:11:59We're going to put the right sort of money into it.
0:11:59 > 0:12:01And they have a budget to back it up.
0:12:01 > 0:12:05140-160 grand for the plans that have been passed,
0:12:05 > 0:12:09or 200 grand if they do get to add another floor.
0:12:12 > 0:12:14They hope for a timescale of seven months,
0:12:14 > 0:12:16but it's those handmade bricks, not the planners,
0:12:16 > 0:12:18that might hold them up on the build.
0:12:20 > 0:12:25# I'm living it brick by brick... #
0:12:26 > 0:12:30The only problem we have got is obviously cos of the bricks,
0:12:30 > 0:12:33we've got a 25-week waiting time.
0:12:33 > 0:12:35That's for the bricks you mentioned?
0:12:35 > 0:12:37That's for the bricks, yeah, so we're probably going to
0:12:37 > 0:12:41get the fittings done, get the drive in, get it all ready,
0:12:41 > 0:12:44get the services in so we've got electric and water on-site
0:12:44 > 0:12:46and then once the bricks turn up, then...
0:12:46 > 0:12:47Why those particular bricks?
0:12:47 > 0:12:50There's a shortage of all bricks at the moment in England
0:12:50 > 0:12:53cos of the amount of building work that's going on,
0:12:53 > 0:12:55but this is like a handmade brick, so,
0:12:55 > 0:12:57it's not your everyday brick.
0:12:58 > 0:13:00Beyond the problems of the bricks and mortar,
0:13:00 > 0:13:03I worry about the family foundations of this build.
0:13:05 > 0:13:07Families and business doesn't always work out.
0:13:07 > 0:13:10Tell us how it's going to work for you guys.
0:13:10 > 0:13:13It works well, his brother works for us as well.
0:13:13 > 0:13:17He's only 17, Ryan, but, yeah, he's started for the firm.
0:13:17 > 0:13:19My wife does the office.
0:13:19 > 0:13:21John's keeping quiet, he's being very clever.
0:13:21 > 0:13:23He's letting the boss talk.
0:13:24 > 0:13:26- Listen and learn.- That's it, listen and learn and do as you're told.
0:13:26 > 0:13:28But, yeah, it's always been a hobby of mine
0:13:28 > 0:13:30so I think it's growing on John
0:13:30 > 0:13:32and hopefully it will grow on Ryan as well.
0:13:32 > 0:13:33And what's his skill? What will he do?
0:13:33 > 0:13:36What will you bring to the table, so to speak?
0:13:36 > 0:13:39We've given him a year basically just to decide what he wants to do.
0:13:39 > 0:13:42He's trying to learn to drive at the moment so...
0:13:42 > 0:13:44Two things at once at 18 is not a great idea, is it?
0:13:44 > 0:13:47- That's right, no.- I wish you all the best, hope it all works out.
0:13:47 > 0:13:49You'll be getting your hands dirty and you'll be...
0:13:49 > 0:13:51- Playing golf. - Playing golf as always.
0:13:51 > 0:13:54- Thank you.- Good luck. Good luck, Mick. Good luck, John. All the best.
0:13:56 > 0:13:59So Mick and John know what they want to do to make the most of this plot,
0:13:59 > 0:14:02but it's out of their hands. They've got planning for the bungalow -
0:14:02 > 0:14:05will they get planning for the first floor? They need it.
0:14:05 > 0:14:07You can find out later on in the programme.
0:14:13 > 0:14:16Situated just two miles south-east of Wolverhampton
0:14:16 > 0:14:19in the West Midlands is Bilston.
0:14:21 > 0:14:25A market town that was built around the coal and iron industries,
0:14:25 > 0:14:27and it's now a popular and affordable area.
0:14:30 > 0:14:34Well, for a house just round the corner from the town centre,
0:14:34 > 0:14:37in a really nice little residential street,
0:14:37 > 0:14:41you would expect to have to pay quite a lot of money,
0:14:41 > 0:14:47Well, no. £29,000-34,000 was the guide price for this.
0:14:47 > 0:14:48# She's too good
0:14:50 > 0:14:52# To be true
0:14:53 > 0:14:56# They broke the mould
0:14:56 > 0:14:58# When they made you... #
0:15:00 > 0:15:02So, what have we got? Erm, you know what?
0:15:02 > 0:15:05It's immediately better than you might imagine for that guide price.
0:15:05 > 0:15:09A good sized front sitting room here, looks like an open fire,
0:15:09 > 0:15:12although you definitely want to have that checked out just to make sure
0:15:12 > 0:15:15that the flue or whatever was in good condition.
0:15:15 > 0:15:17Nice bits of storage.
0:15:17 > 0:15:21Through to the rear room where the kitchen is.
0:15:21 > 0:15:24Obviously, it would benefit with some new units,
0:15:24 > 0:15:27but you could transform this pretty easily.
0:15:27 > 0:15:29There, a downstairs loo.
0:15:29 > 0:15:31My guess is it's the only loo
0:15:31 > 0:15:33because that is a fairly substantial bathroom.
0:15:33 > 0:15:35So, potentially an issue there.
0:15:35 > 0:15:38Kind of... I quite like the way it's there, I don't know.
0:15:38 > 0:15:41Probably creates more space upstairs.
0:15:41 > 0:15:45Overall, as a starting point, for a house this kind of price,
0:15:45 > 0:15:47I think it's pretty good.
0:15:47 > 0:15:50# You got it You're wow-wow-wow-wow! #
0:15:51 > 0:15:53It won't be everyone's cup of tea
0:15:53 > 0:15:55to have the bathroom sitting off the kitchen,
0:15:55 > 0:15:57but it has been done really well.
0:15:57 > 0:16:00Perhaps the upstairs can offer some possible solutions
0:16:00 > 0:16:02if you're not a fan.
0:16:05 > 0:16:08So, upstairs, your bedrooms.
0:16:08 > 0:16:10One, two...
0:16:11 > 0:16:13..three, four. Right.
0:16:13 > 0:16:16That one's a good size, that's one is a good-ish size,
0:16:16 > 0:16:18that one is a small size,
0:16:18 > 0:16:21and then that one there is also small.
0:16:21 > 0:16:23However, in terms of practicalities,
0:16:23 > 0:16:26if you wanted a baby room or a little study,
0:16:26 > 0:16:28both of those would work.
0:16:28 > 0:16:31And there is, of course, the option to move the bathroom
0:16:31 > 0:16:33into one of these smaller rooms,
0:16:33 > 0:16:34but will it be cost-effective?
0:16:36 > 0:16:37I suppose it depends on what
0:16:37 > 0:16:39the buyer plans to do with the property.
0:16:42 > 0:16:46At the back, there is a pretty decent sized back garden,
0:16:46 > 0:16:49albeit in need of some urgent TLC.
0:16:49 > 0:16:52But it's out the front which offers yet more.
0:16:55 > 0:16:58So at the front of the property, currently a scraggy bit of lawn,
0:16:58 > 0:17:01but this could actually, surprisingly,
0:17:01 > 0:17:04add quite a lot of value to the house.
0:17:04 > 0:17:08Not just by mowing it, but by using it as off-street parking,
0:17:08 > 0:17:11that's exactly what the majority of houses in the street have done.
0:17:11 > 0:17:14The issue you've got is this. It's a kerb.
0:17:14 > 0:17:16And easy though it would be
0:17:16 > 0:17:20to just drive your car up on there and park, that's not ideal at all.
0:17:20 > 0:17:23You have to approach the council and get planning permission to lower the
0:17:23 > 0:17:27kerb here and then you could get a proper driveway into the house.
0:17:27 > 0:17:31Not very much money relatively and it would add certainly a lot more to
0:17:31 > 0:17:33the value of the house.
0:17:33 > 0:17:36So plenty of ways to add value here,
0:17:36 > 0:17:39but which would be the best option?
0:17:39 > 0:17:43We asked along a local estate agent for his opinions.
0:17:43 > 0:17:45I think if I was moving into here,
0:17:45 > 0:17:50having upstairs toilet is probably a lot more beneficial
0:17:50 > 0:17:52than the extra bedroom.
0:17:52 > 0:17:55However, of course, it does depend an awful lot on what people's
0:17:55 > 0:17:57family commitments are when they come along.
0:17:57 > 0:18:00If they decided to move the bathroom upstairs,
0:18:00 > 0:18:04it wouldn't be too expensive to do.
0:18:04 > 0:18:08The one small bedroom is actually above the ground floor bathroom
0:18:08 > 0:18:12and they would be able to connect into the connections down there.
0:18:12 > 0:18:16If the fourth bedroom upstairs was converted into a bathroom,
0:18:16 > 0:18:21I don't think it would make any real significant difference in price,
0:18:21 > 0:18:23because the people that would do it
0:18:23 > 0:18:26would want the bathroom upstairs for convenience
0:18:26 > 0:18:29rather than having to trip down the stairs in the middle of the night.
0:18:29 > 0:18:31Yes, no-one wants to take a tumble
0:18:31 > 0:18:34when they're trying to have a tinkle.
0:18:34 > 0:18:37So, with the layout as it is, and after the refurbishment,
0:18:37 > 0:18:39what kind of rental can be expected?
0:18:39 > 0:18:42If the property was to be rented out,
0:18:42 > 0:18:44I would assume that they would get
0:18:44 > 0:18:47something in the region of £600 per calendar month.
0:18:47 > 0:18:50OK, so, what about the resale value?
0:18:50 > 0:18:54Depending upon the standard to which the work was done,
0:18:54 > 0:18:56I would envisage the property being worth
0:18:56 > 0:19:01somewhere between £110,000 and £120,000.
0:19:03 > 0:19:06Yes, it needs a bit of modernisation, but intrinsically,
0:19:06 > 0:19:08a good, solid house that doesn't need too much
0:19:08 > 0:19:10to bring it up to scratch.
0:19:10 > 0:19:13Let's see who fancied it when it went under the hammer.
0:19:17 > 0:19:23This next lot is a freehold, four-bedroomed, mid-terraced house.
0:19:24 > 0:19:26So who will bid me? Where should we start?
0:19:26 > 0:19:28Have we got 50 over there? Thank you, guys.
0:19:28 > 0:19:31At 50,000 I'm bid, is it 60 now?
0:19:31 > 0:19:3450, out on my left. Is it 60 anywhere?
0:19:34 > 0:19:39Is that 55, is it, sir? 55. 60 out on my left, thank you.
0:19:39 > 0:19:42I got you first. 60. Who's first at 65?
0:19:42 > 0:19:4362?
0:19:43 > 0:19:45Thank you, sir, 62.
0:19:45 > 0:19:46Madam, 64?
0:19:46 > 0:19:4865, thank you, same to you, madam?
0:19:48 > 0:19:4966. 67? 68. 69.
0:19:57 > 0:19:5870.
0:20:00 > 0:20:02Is it 70?
0:20:03 > 0:20:0470. 71?
0:20:05 > 0:20:10No? At £70,000 on my left, are we all done?
0:20:10 > 0:20:15With you, and on sale, for £70,000...
0:20:18 > 0:20:22For the first time, second time, third and last time.
0:20:24 > 0:20:27That's yours. Well done.
0:20:27 > 0:20:30Just out of sight at the auction was the successful bidder
0:20:30 > 0:20:32and first-time renovator, Hema.
0:20:32 > 0:20:36She paid £70,000, which is almost twice the guide price,
0:20:36 > 0:20:38and came along with her mum, Urmila.
0:20:38 > 0:20:41Whilst Mum had a look around the property,
0:20:41 > 0:20:44I took the opportunity to ask Hema about her plans.
0:20:44 > 0:20:49- Great to meet you.- Same here. Great to meet you, too.
0:20:49 > 0:20:52- Congratulations!- Thank you.- So, went a bit over the guide price, then?
0:20:52 > 0:20:55- Yes.- What do you put that down to?
0:20:55 > 0:20:59I think it was a bit low, when I looked at the houses around
0:20:59 > 0:21:02and the prices that the houses were being sold at.
0:21:02 > 0:21:08It was not a true reflection of what the house prices were, to be honest,
0:21:08 > 0:21:11and we were expecting it to be higher than that.
0:21:11 > 0:21:13- Right, so you're happy with what you paid?- Yes.
0:21:13 > 0:21:16So, tell me why you wanted to buy it?
0:21:16 > 0:21:20Basically, the house itself is not in a bad condition at all,
0:21:20 > 0:21:22and it's very close to the train station,
0:21:22 > 0:21:25probably two, three minutes' walk -
0:21:25 > 0:21:27and with local shops just a walk away,
0:21:27 > 0:21:31so it's centrally located and it's a very good area for rental.
0:21:31 > 0:21:34Great. So, are you a buy-to-let landlord?
0:21:34 > 0:21:37Yes, well, it's a first investment and...
0:21:37 > 0:21:39Oh, it's the first one, is it?
0:21:39 > 0:21:41- Yes. - Oh, you speak with such confidence,
0:21:41 > 0:21:43I thought you'd done this loads of times before!
0:21:43 > 0:21:48No, no, I came to England last year.
0:21:48 > 0:21:52- OK. From?- Mauritius. - Oh, wow!- Yes!
0:21:52 > 0:21:55So then, I was looking into ideas, investment ideas
0:21:55 > 0:21:57and this seems to be a good project.
0:21:57 > 0:22:01So, tell me what you are going to do, then, to sort it out?
0:22:01 > 0:22:03So, the bedroom... It's advertised as three bedroom,
0:22:03 > 0:22:07but if we're looking at renting, probably leave it as a four-bedroom.
0:22:07 > 0:22:12The windows are very old, so those need to go
0:22:12 > 0:22:17and just a bit of tidying, replastering, repainting
0:22:17 > 0:22:22and doing the carpeting. And the back yard is a bit of a mess,
0:22:22 > 0:22:25so we need to look into that one, as well.
0:22:25 > 0:22:29And, as you can see, this is the only house who hasn't got
0:22:29 > 0:22:31a proper driveway, so we're going to look into that, as well.
0:22:31 > 0:22:34Lowering the kerb and getting off-street parking?
0:22:34 > 0:22:36- Yes, exactly.- Good idea.
0:22:36 > 0:22:39With help from her parents and husband Jes,
0:22:39 > 0:22:42Hema will be the project manager,
0:22:42 > 0:22:45and she hopes to keep the budget between 6,000 and 8,000.
0:22:45 > 0:22:50But will that include relocating the bathroom?
0:22:51 > 0:22:53Bathroom and kitchen, plans for that?
0:22:53 > 0:22:56The bathroom and the kitchen are both in very good condition,
0:22:56 > 0:22:58so probably just make it look better,
0:22:58 > 0:23:01cosmetic changes, here and there.
0:23:01 > 0:23:04So, these are the things that we are looking at, yeah.
0:23:04 > 0:23:07You could, theoretically, put it upstairs, into one of the bedrooms?
0:23:07 > 0:23:11It could be an idea, but it's not in our project at the moment, no.
0:23:11 > 0:23:14We are planning to leave it downstairs for now.
0:23:14 > 0:23:17So, keeping it as four, even though they are quite small bedrooms?
0:23:17 > 0:23:19Yeah, possibly for kids.
0:23:19 > 0:23:24- In the area, it's mainly for working families...- Right.
0:23:24 > 0:23:28..so it will be good for families with children.
0:23:28 > 0:23:31What current budget have you got for sorting it out?
0:23:31 > 0:23:35We're looking, at the moment, about £,6,000 to £8,000,
0:23:35 > 0:23:39just to tidy and do the work.
0:23:39 > 0:23:41What's the timescale, then, for getting you up and running?
0:23:41 > 0:23:48We're looking at a timescale of five to six weeks, to do that.
0:23:48 > 0:23:51- Looking forward to it? - Yeah, I'm really excited!
0:23:51 > 0:23:54Planning to start work as soon as possible.
0:23:54 > 0:23:57- Good. Well, congratulations. - Thank you.- Good luck with it.
0:23:57 > 0:24:00- Thank you.- We'll see how you get on.- All right!
0:24:00 > 0:24:03Hopefully, Hema's first renovation project proves to be
0:24:03 > 0:24:05pretty painless.
0:24:05 > 0:24:09Nothing too complicated. Keeping the four bedrooms?
0:24:09 > 0:24:12Maybe I would have moved the bathroom upstairs. Well, whatever.
0:24:12 > 0:24:15You can find out how she gets on later in the show.
0:24:18 > 0:24:20Coming up, Lucy's found something rare in this bungalow in Kent.
0:24:20 > 0:24:23Something I don't often say on Homes Under The Hammer,
0:24:23 > 0:24:27but this is the sort of place you could move straight into.
0:24:29 > 0:24:32And was Hema and her husband Jes's renovation all they thought
0:24:32 > 0:24:33it would be?
0:24:33 > 0:24:37The boiler wasn't working, so we weren't expecting that.
0:24:41 > 0:24:45Time to head back to Hampshire and the lovely village of Curdridge.
0:24:47 > 0:24:50And I wasn't looking around a dilapidated old semi. Oh, no.
0:24:50 > 0:24:54It was a plot of land which was almost a quarter of an acre.
0:24:54 > 0:24:57MUSIC: Breathe by Pink Floyd
0:24:57 > 0:24:58# Breathe
0:24:58 > 0:25:00# Breathe in the air
0:25:03 > 0:25:04# Look around
0:25:06 > 0:25:08# Choose your own ground... #
0:25:08 > 0:25:09Not only was it large,
0:25:09 > 0:25:11it also had planning permission in place already,
0:25:11 > 0:25:14although it wasn't quite what I had in mind.
0:25:14 > 0:25:16The planning permission, which will surprise you,
0:25:16 > 0:25:20is only for a three-bed bungalow. I'd want more than that.
0:25:22 > 0:25:24Just put in some new plans, I hear you say,
0:25:24 > 0:25:26but it wasn't that straightforward.
0:25:26 > 0:25:29What you need to know - and what you should know - is,
0:25:29 > 0:25:32if you've done your homework, in the last couple of years,
0:25:32 > 0:25:35planning has already been refused to go into the loft space
0:25:35 > 0:25:38of that bungalow. It might not be as easy as you think.
0:25:38 > 0:25:39# Don't be cruel
0:25:41 > 0:25:43# To a heart that's true... #
0:25:45 > 0:25:48Well, one man who was willing to take on the planners
0:25:48 > 0:25:50was property developer Mick.
0:25:50 > 0:25:53Along with his wife Penny and sons Ryan and John,
0:25:53 > 0:25:56who was with him on the day, they paid 300 grand to take on
0:25:56 > 0:25:58the project.
0:26:01 > 0:26:04We would like to take it one step further,
0:26:04 > 0:26:07keeping it a three-bedroom bungalow, but putting some bedrooms
0:26:07 > 0:26:09in the loft, with some dormers.
0:26:09 > 0:26:12Whether we get away with that or not, I don't know, with the council.
0:26:12 > 0:26:15- How are you going to get around it? - Fight them, as we always do!
0:26:15 > 0:26:17# War! Huh! Look out!
0:26:19 > 0:26:22# What is it good for? Absolutely nothing! #
0:26:22 > 0:26:25Mick was confident that, rather than war,
0:26:25 > 0:26:28an agreement could be made with the council to build a property
0:26:28 > 0:26:31that would make more of the size of the plot.
0:26:31 > 0:26:34He planned that the work on the property he had in mind,
0:26:34 > 0:26:38if approved, would take around seven months and cost about 200 grand.
0:26:39 > 0:26:41But if it was rejected,
0:26:41 > 0:26:43he had the back-up plans that were already approved,
0:26:43 > 0:26:46which he thought could take the same time to build
0:26:46 > 0:26:50and cost about £140,000 to £160,000.
0:26:56 > 0:26:59It's now 21 months down the line and it's time to see exactly how
0:26:59 > 0:27:01Mick and the family have got on.
0:27:16 > 0:27:19What an incredible detached property this is.
0:27:21 > 0:27:25What was a patch of scrubland is now a huge three-bed
0:27:25 > 0:27:27detached family home.
0:27:27 > 0:27:30And the inside isn't too bad, either.
0:27:36 > 0:27:39The massive family kitchen is beautifully finished
0:27:39 > 0:27:41and definitely has the wow factor.
0:27:41 > 0:27:44Just off this is a useful utility room,
0:27:44 > 0:27:47also done to a very high standard.
0:27:57 > 0:28:01A trio of French doors in this huge living room is a lovely idea.
0:28:02 > 0:28:05So, too, is the addition of the wood burner.
0:28:05 > 0:28:09This will create a feeling of warmth in this spacious living area.
0:28:10 > 0:28:13Just next door to the living room is a spectacular orangery.
0:28:13 > 0:28:16With a roof lantern and plenty of windows,
0:28:16 > 0:28:19it's like a conservatory and feels in keeping with
0:28:19 > 0:28:20the rest of the house.
0:28:23 > 0:28:24By creating this orangery,
0:28:24 > 0:28:27they've increased the square footage of the property.
0:28:27 > 0:28:30This means it is no longer classed as affordable housing...
0:28:32 > 0:28:35..which, in turn, meant that they could now make this
0:28:35 > 0:28:38a two-storey building, moving the three bedrooms upstairs.
0:29:00 > 0:29:03Two of the three bedrooms have en suite
0:29:03 > 0:29:05and there's a family bathroom up here...
0:29:06 > 0:29:08..plus a toilet downstairs.
0:29:11 > 0:29:13Top to bottom, inside and out,
0:29:13 > 0:29:17Mick and wife Penny have created a home anyone would be proud of.
0:29:19 > 0:29:22Since the last time you were here filming,
0:29:22 > 0:29:24we've obviously built this house, a lovely three-bedroom house.
0:29:24 > 0:29:27It's been a bit awkward along the way, with planning,
0:29:27 > 0:29:29but we finally got it done.
0:29:29 > 0:29:32The biggest problem we had with the build was waiting for
0:29:32 > 0:29:35the planning applications to go through and work their...
0:29:35 > 0:29:36you know, go through the course.
0:29:36 > 0:29:38First of all, we had to get it out of affordables,
0:29:38 > 0:29:43by putting on the orangery. Then, we had to get it all passed downstairs,
0:29:43 > 0:29:46then we had to apply for the upstairs three-bedroom extension.
0:29:46 > 0:29:50It's taken quite a long time. It's taken nearly two years, from date
0:29:50 > 0:29:53of purchase to the end result here.
0:29:53 > 0:29:56Nearly 18 months of that has been in and out of planning,
0:29:56 > 0:30:00and probably the builders have been here between six to eight months.
0:30:01 > 0:30:04Originally, Mick had earmarked a budget of 200 grand
0:30:04 > 0:30:08for the property he wanted to build, which also includes
0:30:08 > 0:30:12those special bricks he wanted to use. So, how is the budget looking
0:30:12 > 0:30:14and what about those bricks?
0:30:16 > 0:30:18The bricks we used are handmade.
0:30:18 > 0:30:22I think they took 15 weeks to be delivered,
0:30:22 > 0:30:25but it was worth waiting for, because they are a lovely brick.
0:30:25 > 0:30:30We spent 300,000, plus we bought the plot for 300,000, as well,
0:30:30 > 0:30:32so somewhere in the region of 600,000,
0:30:32 > 0:30:37which is way over budget, but we usually do go over budget.
0:30:37 > 0:30:41The thing we normally do is, before we finish, we get a valuation,
0:30:41 > 0:30:44because we always aim for a 20% profit,
0:30:44 > 0:30:48so we knew what we could spend on it and still come out with our 20%.
0:30:48 > 0:30:52So, that's the way we work and it seems to work for us.
0:30:54 > 0:30:58It's been a long road getting here, and they've overspent by 100 grand,
0:30:58 > 0:30:59but will it be worth it?
0:30:59 > 0:31:02We've asked along two local estate agents to have a look.
0:31:02 > 0:31:05First, the agent who saw the plot originally.
0:31:08 > 0:31:10It was important to improve the planning,
0:31:10 > 0:31:12because formerly it was just
0:31:12 > 0:31:14a three-bedroom bungalow.
0:31:14 > 0:31:17Now, you have three bedrooms in the roof, as well as the spacious
0:31:17 > 0:31:20ground floor accommodation. I think there will be a high demand
0:31:20 > 0:31:22for this type of property, as it's the only opportunity
0:31:22 > 0:31:25in the area, that I'm aware of, currently where you can buy
0:31:25 > 0:31:28a brand-new property. So, that's the number one feature.
0:31:28 > 0:31:30This house certainly has a good wow factor about it.
0:31:30 > 0:31:33Incredible kitchen and an amazing dual-aspect, 24-foot reception room.
0:31:33 > 0:31:37It's lovely. I think, putting the bedrooms upstairs was definitely
0:31:37 > 0:31:42the right thing to do. It opens up as a family home.
0:31:42 > 0:31:45- Definitely the right way to go. - Mick and Penny have spent 600 grand
0:31:45 > 0:31:49creating this fabulous house and are confident of a 20% profit.
0:31:49 > 0:31:53Will the agency valuations match their figures?
0:31:53 > 0:31:55If we were to market the property today,
0:31:55 > 0:31:58I would suspect you'd be looking to achieve in the region of 750,000,
0:31:58 > 0:32:01but we would certainly market it as 765,000.
0:32:01 > 0:32:04In my opinion, the value of this property is between
0:32:04 > 0:32:07£750,000 and £800,000.
0:32:07 > 0:32:11I think the values are spot on and we currently have the house
0:32:11 > 0:32:13advertised for £765,000.
0:32:13 > 0:32:17Yeah, we're going to get our 20%, which is the way we work,
0:32:17 > 0:32:20so we're happy with that. Move on. You know, just keep going.
0:32:20 > 0:32:26If they do sell the house for 765 grand, as they've advertised,
0:32:26 > 0:32:30that would mean a pre-tax profit of £165,000,
0:32:30 > 0:32:33making this tricky project a resounding success.
0:32:42 > 0:32:46There are a wide variety of houses in Wigmore, near Gillingham in Kent.
0:32:46 > 0:32:49In the Fairview district, where Lucy is today,
0:32:49 > 0:32:52there are also plenty of shops and local amenities.
0:32:52 > 0:32:56Only a short walk from this quiet street is Wigmore Park,
0:32:56 > 0:33:00so it's an ideal place to live, if you've got kids to keep you occupied
0:33:00 > 0:33:01or a dog to walk.
0:33:01 > 0:33:05So will the property I'm here to see be family friendly?
0:33:05 > 0:33:08Well, it's not the sort of place usually associated with
0:33:08 > 0:33:11family living and that's because it's a two-bed bungalow,
0:33:11 > 0:33:16which had a guide price of £240,000 to £250,000.
0:33:16 > 0:33:20However, it does come with planning permission, so hold that thought.
0:33:20 > 0:33:22I will reveal more shortly.
0:33:22 > 0:33:23I'm going down here.
0:33:23 > 0:33:25Well, take care, Lucy.
0:33:25 > 0:33:27Bungalows are fast becoming an endangered species,
0:33:27 > 0:33:31as builders can get more profit from the land by building flats
0:33:31 > 0:33:32and townhouses.
0:33:32 > 0:33:35I really like bungalows. I find them quite sociable,
0:33:35 > 0:33:39Everything's all on one level. I'm quite a lazy person.
0:33:39 > 0:33:41I don't normally like running up and down stairs,
0:33:41 > 0:33:43if you forget your car keys!
0:33:43 > 0:33:45So, we have nice double-fronted little space to live in here.
0:33:45 > 0:33:49We have a lounge with a fireplace, a rather interesting
0:33:49 > 0:33:53textured ceiling up there! I think that might have to go.
0:33:53 > 0:33:57Got a nice bedroom to the left, all painted magnolia.
0:33:57 > 0:33:59It feels quite fresh and friendly.
0:33:59 > 0:34:03We've got a kitchen, a bathroom. Oops, with a carpet in.
0:34:03 > 0:34:05I don't think that feels right to me,
0:34:05 > 0:34:08to have a carpet in the bathroom. And then, right at the back
0:34:08 > 0:34:10of the property, another bedroom.
0:34:10 > 0:34:13We've got two bedrooms here. But, you know, it all seems lovely,
0:34:13 > 0:34:15it's got a nice flow throughout.
0:34:15 > 0:34:18More textured ceilings, quite a few of those.
0:34:18 > 0:34:21I'd have to get my head around that and probably get rid of all of them,
0:34:21 > 0:34:26but great view from the bedroom window. Lovely large garden.
0:34:26 > 0:34:29Yeah, something I don't often say on Homes Under The Hammer,
0:34:29 > 0:34:32but this is the sort of place you could move straight into.
0:34:34 > 0:34:36The windows are already double-glazed
0:34:36 > 0:34:39and the central heating and boiler look like they're good
0:34:39 > 0:34:42for a few more years. But will all that be about to change?
0:34:42 > 0:34:44Does Lucy have the answer?
0:34:44 > 0:34:46And what do I have here?
0:34:46 > 0:34:50Well, I just so happen to have the plans that have been passed,
0:34:50 > 0:34:52which is great, and I've been having a look at them.
0:34:52 > 0:34:53So, what have we got?
0:34:53 > 0:34:57Well, as well as the side and rear extension here,
0:34:57 > 0:35:00the roof height will be raised to include a whole new floor,
0:35:00 > 0:35:03making this a chalet bungalow, like this.
0:35:03 > 0:35:06On that new first floor, there will be two bedrooms.
0:35:06 > 0:35:08You've got a family bathroom,
0:35:08 > 0:35:13another en suite and a nice large bedroom with an en suite as well.
0:35:13 > 0:35:16And on the ground floor, you've got a spacious kitchen-diner,
0:35:16 > 0:35:19as well as a really nice large lounge.
0:35:19 > 0:35:22There's a wet room, a utility room and a study -
0:35:22 > 0:35:25or you could even call it a fourth bedroom - just here.
0:35:25 > 0:35:28Now, these plans would allow the buyer of this bungalow
0:35:28 > 0:35:31to create a much larger and more family friendly property,
0:35:31 > 0:35:33if that's what they want to do, of course.
0:35:33 > 0:35:35So, overall, I think they're really nice.
0:35:35 > 0:35:38Bungalows are often built on generous plots,
0:35:38 > 0:35:42so there is room for that side and rear extension,
0:35:42 > 0:35:46although you will, of course, have to lose some of the garden.
0:35:46 > 0:35:49The plans also make provision for a blocked paved driveway
0:35:49 > 0:35:52to replace the current narrow one.
0:35:52 > 0:35:57Good job, because having one like this could have you going...
0:35:57 > 0:35:58# Crazy
0:36:00 > 0:36:02# You've got me crazy... #
0:36:02 > 0:36:05So, a big part of extending this bungalow
0:36:05 > 0:36:09involves raising the roof height, but how big a job is that?
0:36:09 > 0:36:12Well, the answer is, it's a pretty big one,
0:36:12 > 0:36:15because it involves so much structural work.
0:36:15 > 0:36:19You'll need to remove part of, or all of, the existing roof,
0:36:19 > 0:36:22and then rebuild it to the required height and structure.
0:36:22 > 0:36:23And a new wall?
0:36:23 > 0:36:27Well, it can't simply be added on top of the existing walls.
0:36:27 > 0:36:31Instead, they have to be made taller from the bottom up.
0:36:31 > 0:36:35In addition, existing floor joists may have to be strengthened
0:36:35 > 0:36:37in order to bear the new load.
0:36:37 > 0:36:41Now, all of this work adds cost and raising the roof?
0:36:41 > 0:36:46Well, it could amount to anywhere between £50,000 to £100,000.
0:36:46 > 0:36:49So, it's certainly not a cheap thing to do.
0:36:50 > 0:36:53No, Lucy, it's certainly not.
0:36:53 > 0:36:56Whoever bought this is going to be raising the roof,
0:36:56 > 0:36:59in both senses of the phrase. But that said,
0:36:59 > 0:37:03creating a chalet-style bungalow can still be a cost-effective way
0:37:03 > 0:37:06to increase the size of your property.
0:37:08 > 0:37:10We've called on a local estate agent
0:37:10 > 0:37:14to come and value the property and evaluate the plans.
0:37:14 > 0:37:15But would a bungalow like this
0:37:15 > 0:37:19attract a good amount of interest in this area?
0:37:19 > 0:37:24Overall in our area, the demand is for bungalows.
0:37:24 > 0:37:26We just don't have enough of them.
0:37:26 > 0:37:28So many people, I think, have converted and, for a lot of people,
0:37:28 > 0:37:32they don't want an upstairs and they are desperate for bungalows.
0:37:32 > 0:37:34So, yes, bungalows is the answer.
0:37:34 > 0:37:37The question, then, is, is it more profitable
0:37:37 > 0:37:42with or without the extension? How do the figures stack up?
0:37:42 > 0:37:46If this was just renovated as a two-bedroom bungalow,
0:37:46 > 0:37:52we'd be looking somewhere in the region of £350,000 to £375,000.
0:37:52 > 0:37:53With the extensions,
0:37:53 > 0:38:00we'd then be looking somewhere in the region of £450,000-£475,000.
0:38:01 > 0:38:03If you've got the money to spend,
0:38:03 > 0:38:05you could completely transform this property
0:38:05 > 0:38:07from a single-storey two-bedder
0:38:07 > 0:38:10to a three- to four-bedroom chalet bungalow.
0:38:10 > 0:38:12No planning battles to go through here.
0:38:12 > 0:38:15So, who thought this was a good one to go for?
0:38:15 > 0:38:18Let's find out, when it went under the hammer.
0:38:18 > 0:38:23Right. Lot 33, we go to now, which is detached bungalow
0:38:23 > 0:38:25with planning permission for a good residential area.
0:38:25 > 0:38:28Almost like a knock down and start again, quite honestly.
0:38:28 > 0:38:30Planning permission is quite detailed.
0:38:30 > 0:38:34Like to start at the bottom end, £240,000 anywhere for the bungalow?
0:38:34 > 0:38:36240, 220, then?
0:38:36 > 0:38:39220, I'm bid. 220. I should think so, too.
0:38:39 > 0:38:44225, 230, 235, 240.
0:38:44 > 0:38:47As bids touch the bottom of the guide price band,
0:38:47 > 0:38:51we rejoin the bidding at 262,000.
0:38:51 > 0:38:53262. And 3 and 4
0:38:53 > 0:38:55and 5 and 6
0:38:55 > 0:38:56and 7?
0:38:58 > 0:39:00And 8. And 9.
0:39:01 > 0:39:03269, 270.
0:39:03 > 0:39:05And 1? 271?
0:39:05 > 0:39:09The two bidders seem to be the only ones left in this bidding war.
0:39:09 > 0:39:13We rejoin at 285,000.
0:39:13 > 0:39:15And 5. And 6.
0:39:15 > 0:39:17And 7. And 8.
0:39:17 > 0:39:19And 9.
0:39:19 > 0:39:21290.
0:39:21 > 0:39:23And 1. 291.
0:39:23 > 0:39:26And 2. And 3.
0:39:26 > 0:39:28292 I've got from the gentleman at the back.
0:39:28 > 0:39:29293 I'm looking for.
0:39:29 > 0:39:32At 292, then, for the first time.
0:39:32 > 0:39:34292 for the second time.
0:39:34 > 0:39:38Third and final time at £292,000.
0:39:38 > 0:39:41Yours at the back, 292, sir, and your number, please?
0:39:41 > 0:39:43Yes, the successful bidder has been on the show before,
0:39:43 > 0:39:46back in March 2013.
0:39:46 > 0:39:50Andrew from Hertfordshire featured when his mum and dad
0:39:50 > 0:39:53bought this three-bedroom detached wreck of a cottage
0:39:53 > 0:39:55in Sittingbourne, Kent,
0:39:55 > 0:39:58but both Andrew and his dad, Derek,
0:39:58 > 0:40:01had some very valuable renovation skills.
0:40:01 > 0:40:03We're both plasterers, a family business.
0:40:03 > 0:40:06My dad started out and I sort of went along with it,
0:40:06 > 0:40:08went from there.
0:40:08 > 0:40:12This body-building plasterer and his family certainly went for it,
0:40:12 > 0:40:15achieving an estimated growth in value
0:40:15 > 0:40:18of between 37,000 and 82,000.
0:40:18 > 0:40:21Now they're about to tackle a second auction property.
0:40:21 > 0:40:24As usual, he'll have Mum and Dad helping,
0:40:24 > 0:40:27and his builder friend Brian is on board as well.
0:40:27 > 0:40:30Time for Lucy to hear his plans for the house.
0:40:30 > 0:40:33- Andrew, congratulations! - Thanks.- We meet again.
0:40:33 > 0:40:36I think it was almost two years ago to the day that we met last time.
0:40:36 > 0:40:39Tell me about this house, and why did you fancy bidding for this one?
0:40:39 > 0:40:41I think it's got a lot of potential.
0:40:41 > 0:40:42The road it's down is really attractive.
0:40:42 > 0:40:45It's one of the ones where you spend a bit of extra money on there,
0:40:45 > 0:40:48but there's a good chance you could get it back at the end of it.
0:40:48 > 0:40:51What are you going to end up turning this property into,
0:40:51 > 0:40:53and are you going to stick with those plans?
0:40:53 > 0:40:55The plans are pretty much going to be left as they are.
0:40:55 > 0:40:58We don't have to change them too much. We're quite happy with them.
0:40:58 > 0:40:59There's a few little tweaks
0:40:59 > 0:41:01we might do here and there, but nothing major.
0:41:01 > 0:41:03Are you going to need to apply for planning permission
0:41:03 > 0:41:05to change them again or not?
0:41:05 > 0:41:07We're not, cos the plans weren't actual drawn-up plans.
0:41:07 > 0:41:09They were basically just permission accepted,
0:41:09 > 0:41:13so you can change them here and there if you want to.
0:41:13 > 0:41:15So, what sort of budget have you guys got to do the work?
0:41:15 > 0:41:17We've put aside... We reckon 120,000
0:41:17 > 0:41:20should be a healthy budget to give it a nice finish.
0:41:20 > 0:41:22£120,000?
0:41:22 > 0:41:24So, what sort of timescale have you got for this?
0:41:24 > 0:41:26We reckon hopefully within two months,
0:41:26 > 0:41:29we should have the plans and the go-ahead to do the work.
0:41:29 > 0:41:31We reckon probably another six months of work itself.
0:41:31 > 0:41:33So, eight months, it should hopefully be on the market.
0:41:33 > 0:41:36Wow! So you have bought this to sell on?
0:41:36 > 0:41:37- That's right, yeah.- At a profit?
0:41:37 > 0:41:40- Hopefully.- How much would you like to sell it for?
0:41:40 > 0:41:43Optimistically, sort of 480.
0:41:43 > 0:41:46- As a big, lovely family house? - Exactly, yeah.
0:41:46 > 0:41:49Why have you decided to go into this with somebody else as well?
0:41:49 > 0:41:50Well, it suits us all.
0:41:50 > 0:41:52He hasn't got much work at the moment,
0:41:52 > 0:41:53he's a builder, so it suits him.
0:41:53 > 0:41:55There's a lot of building work to do here.
0:41:55 > 0:41:56Are you quite excited about this project?
0:41:56 > 0:41:58Can't wait to start now. Just want to get on with it.
0:41:58 > 0:42:01When do you get the time to do your bodybuilding?
0:42:01 > 0:42:03I mean, surely, a long day on-site,
0:42:03 > 0:42:06building, plastering, all the work, and then you go to the gym?
0:42:06 > 0:42:08Go to the gym straight from work.
0:42:08 > 0:42:10Don't go home first, otherwise you sit down and you don't want to go.
0:42:10 > 0:42:14So, straight there, get it done, and then get home.
0:42:14 > 0:42:17With two months to tweak their outline plans to final ones,
0:42:17 > 0:42:21then six months of building the building by day and weekends
0:42:21 > 0:42:23and building the body by night,
0:42:23 > 0:42:27Andrew is going to be super-fit by the end of this project.
0:42:27 > 0:42:30I know you're probably going to be the main plasterer here,
0:42:30 > 0:42:31but would you get involved
0:42:31 > 0:42:33in doing the paving and the other bits and pieces?
0:42:33 > 0:42:35Yeah, we don't really touch the electrics and plumbing.
0:42:35 > 0:42:38Other than that, we can put our hands to anything, really.
0:42:38 > 0:42:40Anything you're worried about with this?
0:42:40 > 0:42:42You're always worried on the budget,
0:42:42 > 0:42:43keeping that down, but it is what it is.
0:42:43 > 0:42:45You've bought it. You've got to get on with the work
0:42:45 > 0:42:47and do it as best you can, as cheap as you can,
0:42:47 > 0:42:49and hopefully it's going to make money at the end.
0:42:49 > 0:42:52Have you got the time to apply to put into this property?
0:42:52 > 0:42:56Yeah, it'll probably be, again, mainly a weekend project,
0:42:56 > 0:42:57but we always find days in the week
0:42:57 > 0:43:00where we can come down here and work late and push it on.
0:43:00 > 0:43:01Mm. How about your parents?
0:43:01 > 0:43:04Are they taking a back seat, or are they going to be as involved?
0:43:04 > 0:43:07They'll be full-on. They can't wait to get started, like me.
0:43:07 > 0:43:08They got quite involved in your last project
0:43:08 > 0:43:11- that you bought at auction, didn't they?- They did, yeah.
0:43:11 > 0:43:13They loved it. They worked from six in the morning till seven at night.
0:43:13 > 0:43:17- They just can't get enough. - That is the perfect parents!
0:43:17 > 0:43:20Now, what about these lovely textured ceilings
0:43:20 > 0:43:21that are everywhere?
0:43:21 > 0:43:23Are we going to get rid of this look?
0:43:23 > 0:43:25- Definitely going to go, the lot of it.- Yes!
0:43:25 > 0:43:26It'll be just the four external walls
0:43:26 > 0:43:28that will be left before we start work again.
0:43:28 > 0:43:30I'm really excited to see the outcome.
0:43:30 > 0:43:31Andrew, good luck with this project.
0:43:31 > 0:43:33- Great to see you again. - And you.- Thank you.
0:43:35 > 0:43:40Well, it's the first time Andrew has taken on a project of this size.
0:43:40 > 0:43:43He's certainly got his work cut out with this bungalow,
0:43:43 > 0:43:48and he's got to fit it in around plastering and his bodybuilding.
0:43:48 > 0:43:51Join me later in the programme and you can find out how he gets on.
0:43:55 > 0:43:58Being cautious is often the way to go to getting it right in property.
0:43:58 > 0:44:02- But fortune often favours the brave, Dion.- Yes, it's true.
0:44:02 > 0:44:05So, which path did our remaining two buyers travel down?
0:44:07 > 0:44:10Back to Bilston, two miles south-east of Wolverhampton,
0:44:10 > 0:44:13where I saw this four-bed mid-terrace.
0:44:13 > 0:44:17It didn't look too bad, and the front room looked decent.
0:44:17 > 0:44:20Through to the rear room, where the kitchen is.
0:44:20 > 0:44:24Now, obviously, it would benefit from some new units.
0:44:24 > 0:44:26But you could transform this pretty easily.
0:44:26 > 0:44:29There, a downstairs loo.
0:44:29 > 0:44:30Mm. Well, my guess is, it's the only loo,
0:44:30 > 0:44:32because that is a fairly substantial bathroom,
0:44:32 > 0:44:35so potentially an issue there.
0:44:35 > 0:44:38I quite like the way it's there. I don't know...
0:44:38 > 0:44:40Probably creates more space upstairs.
0:44:40 > 0:44:41It did indeed.
0:44:41 > 0:44:44There were four bedrooms, though two were on the small side,
0:44:44 > 0:44:48and I reckon if you wanted, you could have one as a bathroom,
0:44:48 > 0:44:51but whether it would be worth it is another matter.
0:44:52 > 0:44:56Former investment banker Hema, who is from Mauritius,
0:44:56 > 0:44:59decided to take the property plunge in the UK,
0:44:59 > 0:45:02and paid £70,000 at the auction.
0:45:02 > 0:45:04After showing her mum, Urmila, around,
0:45:04 > 0:45:06we had a chat about the bathroom.
0:45:07 > 0:45:09I mean, you could theoretically
0:45:09 > 0:45:11put it upstairs into one of the bedrooms.
0:45:11 > 0:45:15It could be an idea, but it's not in our project at the moment, no.
0:45:15 > 0:45:18We're planning to leave it downstairs for now.
0:45:18 > 0:45:21So keeping it as four, even though they're quite small bedrooms?
0:45:21 > 0:45:24Yeah, possibility for kids and...
0:45:24 > 0:45:27In the area, it's mainly for working families.
0:45:27 > 0:45:31- Right.- So, it will be good for families with children.
0:45:31 > 0:45:33It's a very good area for rental.
0:45:33 > 0:45:36Great. So are you a buy-to-let landlord?
0:45:36 > 0:45:39Yes. Well, my dad... It's a first investment, and...
0:45:39 > 0:45:41- Yeah.- Oh, it's the first one, is it?
0:45:41 > 0:45:43- Yes.- Oh, you were speaking with such confidence,
0:45:43 > 0:45:45I thought you'd done this loads of times before!
0:45:45 > 0:45:47Let's hope she's still smiling.
0:45:47 > 0:45:50Now we are back two and a half months later
0:45:50 > 0:45:54to see how her venture into property development has gone.
0:45:54 > 0:45:57# For the first time...
0:45:57 > 0:46:01# Oooh ooh-oooh oooh ooh
0:46:01 > 0:46:03# Ooh-ooh... #
0:46:03 > 0:46:06The house wasn't in bad shape to start with,
0:46:06 > 0:46:10but the kitchen has had a spruce-up and some new worktops and an oven.
0:46:10 > 0:46:13The bathroom has remained the same,
0:46:13 > 0:46:16but has been given a good old clean and a fresh coat of paint.
0:46:17 > 0:46:19The same can be said for the living room,
0:46:19 > 0:46:23which has also had new carpets put down.
0:46:23 > 0:46:26There was a little more work to do upstairs, though,
0:46:26 > 0:46:29as the old rotten windows to the front were replaced,
0:46:29 > 0:46:30and in this room,
0:46:30 > 0:46:35the timber joist has been covered over and re-plastered.
0:46:35 > 0:46:38All bedrooms are freshly decorated and have new carpets.
0:46:42 > 0:46:44Hema's mum, Urmila, is around
0:46:44 > 0:46:48to see the work that Hema and her husband, Jes, still have to do,
0:46:48 > 0:46:51such as the rendering and painting at the back of the house.
0:46:51 > 0:46:53To the front, they decided against
0:46:53 > 0:46:55dropping the kerb for the time being,
0:46:55 > 0:46:58and just put some fresh turf down.
0:46:58 > 0:47:01While Urmila looks round the rest of the property,
0:47:01 > 0:47:05I'm keen to know if Hema and Jes have got their hands dirty here.
0:47:06 > 0:47:09The painting we've done ourselves.
0:47:09 > 0:47:11Jes did the men stuff!
0:47:13 > 0:47:15But we had contractors coming in
0:47:15 > 0:47:18for, you know, the chimney, the gutters,
0:47:18 > 0:47:20re-pointing, the boiler...
0:47:21 > 0:47:23..the central heating.
0:47:23 > 0:47:25When we bought the property,
0:47:25 > 0:47:28we realised that there were no radiators upstairs,
0:47:28 > 0:47:31and we also found that the boiler wasn't working.
0:47:31 > 0:47:35We weren't expecting that, so we've had a brand-new boiler fitted.
0:47:35 > 0:47:39We've had radiators to all the rooms upstairs fitted as well.
0:47:39 > 0:47:43Also, sometimes, you know, in terms of timescale,
0:47:43 > 0:47:48we were just a little bit over timescale, by a week or two,
0:47:48 > 0:47:51because the contractors were not available
0:47:51 > 0:47:53at the time we wanted them to come in.
0:47:53 > 0:47:57And, obviously, we had a plan for each work to be done,
0:47:57 > 0:48:01so basically, we wanted the upstairs to be done before the downstairs.
0:48:01 > 0:48:04So, yeah, this is where we took a bit longer.
0:48:06 > 0:48:08A couple of weeks over isn't too much of a worry,
0:48:08 > 0:48:11but with unexpected items like a new boiler in the mix,
0:48:11 > 0:48:14did they also go over-budget?
0:48:14 > 0:48:19We had an initial budget of 6,000 to 7,000 initially,
0:48:19 > 0:48:22but we were able
0:48:22 > 0:48:25to do all the renovation work below budget, actually.
0:48:25 > 0:48:30We spent just £5,000 doing everything.
0:48:30 > 0:48:34Hema and Jes will be spending the money they saved on a holiday,
0:48:34 > 0:48:35but before they go off to relax,
0:48:35 > 0:48:39how does Hema sum up her first foray into property development?
0:48:41 > 0:48:43This project was my first one,
0:48:43 > 0:48:49so everything that I've done so far was a good lesson for me, you know,
0:48:49 > 0:48:53in terms of how to manage renovations and, you know,
0:48:53 > 0:48:56building relationships with estate agents,
0:48:56 > 0:48:59so it's being a very good journey for me so far.
0:48:59 > 0:49:01That's nice to hear!
0:49:01 > 0:49:04It's now time for two local estate agents
0:49:04 > 0:49:06to make the journey over to the house
0:49:06 > 0:49:09and see if they like Hema's first house renovation.
0:49:09 > 0:49:14First impressions of the property, now they've finished doing it -
0:49:14 > 0:49:17there are one or two items that still want doing,
0:49:17 > 0:49:20but they've cleaned it up and made it look fresh and bright.
0:49:20 > 0:49:22First impression of the property is, obviously,
0:49:22 > 0:49:24it's been refurbished throughout,
0:49:24 > 0:49:26and it's the fourth bedroom
0:49:26 > 0:49:29that sort of creates straightaway that first impression,
0:49:29 > 0:49:32cos most properties in the area are two or three bedrooms,
0:49:32 > 0:49:36so it's going to be ideal for people with a larger family.
0:49:36 > 0:49:38This house should have a strong demand
0:49:38 > 0:49:41when it goes in the rental market as planned,
0:49:41 > 0:49:44but how much could it bring in per month?
0:49:44 > 0:49:49If they intend to rent the property out in its current condition,
0:49:49 > 0:49:52then I would envisage them obtaining
0:49:52 > 0:49:56somewhere between £625 and £650 per calendar month.
0:49:56 > 0:50:01I would rent this at £625 per calendar month.
0:50:01 > 0:50:05Yeah, I think this is what we were expecting all along.
0:50:05 > 0:50:07Yeah, it's really good rental value.
0:50:08 > 0:50:13This £625 a month figure actually works out as a 10% yield,
0:50:13 > 0:50:17so Hema has a nice little long-term investment here,
0:50:17 > 0:50:20but could they stand to make a more immediate profit
0:50:20 > 0:50:23on their £75,000 spend?
0:50:23 > 0:50:25Given its current condition
0:50:25 > 0:50:28and the property market in the area at the moment,
0:50:28 > 0:50:33I would envisage them putting it on the market at £110,000.
0:50:33 > 0:50:36I'd expect it to achieve £110,000.
0:50:36 > 0:50:40- Yeah, I think that's really good. - Yeah, it's a very good price.
0:50:40 > 0:50:42A very good return on our investment.
0:50:42 > 0:50:44We were planning to rent it initially,
0:50:44 > 0:50:47so we'll stick to our initial plans,
0:50:47 > 0:50:50but if we get a good offer,
0:50:50 > 0:50:52maybe we will consider sometime in the future.
0:50:52 > 0:50:56We're looking to buy our second property at the moment,
0:50:56 > 0:50:59so we're doing some kind of research,
0:50:59 > 0:51:05so I'm going to go into property full-time, probably, yeah.
0:51:05 > 0:51:07Yes, this could be the first of many for Hema.
0:51:07 > 0:51:09Best of luck in the future!
0:51:14 > 0:51:17We're heading back to Wigmore in Kent,
0:51:17 > 0:51:19where Lucy saw a two-bed bungalow
0:51:19 > 0:51:21that was actually in pretty good condition.
0:51:21 > 0:51:25This wasn't the most important fact about this auction lot, though,
0:51:25 > 0:51:28because it actually came with outline planning permission
0:51:28 > 0:51:30to transform this bungalow into something bigger.
0:51:32 > 0:51:34And what do I have here?
0:51:34 > 0:51:37Well, I just so happen to have the plans that have been passed,
0:51:37 > 0:51:40which is great, and I've been having a look at them.
0:51:40 > 0:51:41So, what have we got?
0:51:41 > 0:51:44Well, as well as the side and rear extension here,
0:51:44 > 0:51:48the roof height will be raised to include a whole new floor,
0:51:48 > 0:51:52making this a chalet bungalow, like this.
0:51:52 > 0:51:54This was certainly an exciting project,
0:51:54 > 0:51:56but one that would take a lot of skilled work.
0:51:56 > 0:52:00Good thing that the person who paid £292,000 at auction
0:52:00 > 0:52:03was bodybuilding plasterer Andrew.
0:52:03 > 0:52:05He's added more muscle to his team
0:52:05 > 0:52:08by partnering with his builder friend, Dave,
0:52:08 > 0:52:10and he'll need all that help,
0:52:10 > 0:52:13as the roof will have to come off this house.
0:52:13 > 0:52:17This also meant we can say goodbye to one of Lucy's pet peeves.
0:52:19 > 0:52:23What about these lovely textured ceilings that are everywhere?
0:52:23 > 0:52:24Are we going to get rid of this look?
0:52:24 > 0:52:26- Definitely going to go, the lot of it.- Yes!
0:52:26 > 0:52:28It'll be just the four external walls
0:52:28 > 0:52:30that will be left before we start work again.
0:52:30 > 0:52:31Are you excited about this project?
0:52:31 > 0:52:33I can't wait to start. Just want to get on with it.
0:52:33 > 0:52:35When do you get the time to do your bodybuilding?
0:52:35 > 0:52:37I mean, surely, a long day on-site,
0:52:37 > 0:52:41building, plastering, all the work, and then you go to the gym?
0:52:41 > 0:52:42I go to the gym straight from work.
0:52:42 > 0:52:46Don't go home first, otherwise you sit down and you don't want to go.
0:52:46 > 0:52:48So, straight there, get it done, and then go home.
0:52:48 > 0:52:51Well, Andrew couldn't wait to get started here,
0:52:51 > 0:52:53and thought it would take around eight months to complete,
0:52:53 > 0:52:56but as planning took a little longer than expected,
0:52:56 > 0:52:58we've returned 14 months later
0:52:58 > 0:53:01to see if the heavy lifting has been done.
0:53:02 > 0:53:04It certainly has worked out.
0:53:04 > 0:53:07The new roof houses the second floor,
0:53:07 > 0:53:11but what about the extension to the side and back of the house?
0:53:11 > 0:53:13Well, it's absolutely huge,
0:53:13 > 0:53:16and means that the downstairs pokey little kitchen is no more.
0:53:24 > 0:53:28It's lovely, and big enough for the whole family and then some,
0:53:28 > 0:53:29as is the new lounge,
0:53:29 > 0:53:32which now stretches the full width of the property.
0:53:33 > 0:53:37Of course, the biggest change has been by adding the upstairs...
0:53:41 > 0:53:43..which has three of the four bedrooms...
0:53:45 > 0:53:47..and a nice family bathroom.
0:53:49 > 0:53:52There are actually now four toilets in this property,
0:53:52 > 0:53:55so you certainly wouldn't be caught short in here.
0:53:57 > 0:54:01And there is no shortage of space in the master bedroom,
0:54:01 > 0:54:04which also boasts this en suite shower room.
0:54:06 > 0:54:09The two bedrooms to the front are very good sizes.
0:54:10 > 0:54:14Overall, it really is an incredible transformation.
0:54:14 > 0:54:16Andrew hasn't just raised the roof.
0:54:16 > 0:54:19It's fair to say he's also raised his game.
0:54:20 > 0:54:24I've had a part in pretty much ripping off the roof,
0:54:24 > 0:54:27helped build the extension, all the decor inside,
0:54:27 > 0:54:31decorating and plastering, bits of woodwork here and there.
0:54:31 > 0:54:34A general sort of overview of the whole property, really.
0:54:35 > 0:54:37Well, it looks like the hard work has paid off.
0:54:37 > 0:54:41Andrew decided not to have two en suites as per the plans,
0:54:41 > 0:54:44which gave more space to the bedrooms,
0:54:44 > 0:54:47but what layout changes happened downstairs?
0:54:47 > 0:54:50With the original plans, we found the kitchen
0:54:50 > 0:54:52would be too small with the utility room downstairs,
0:54:52 > 0:54:55so we decided in the end to use that space elsewhere.
0:54:55 > 0:54:58Downstairs has now got an open-plan kitchen-diner,
0:54:58 > 0:55:01the lounge, and we've also got a bedroom with an en suite as well,
0:55:01 > 0:55:02and a downstairs toilet.
0:55:02 > 0:55:03We've gained a bigger kitchen,
0:55:03 > 0:55:05which we think from a selling point of view
0:55:05 > 0:55:08would be a lot more appealing than a utility room.
0:55:08 > 0:55:10Having a wow kitchen like this
0:55:10 > 0:55:14should make the house easier to sell, but wow costs money,
0:55:14 > 0:55:18so how did this affect his £120,000 budget?
0:55:20 > 0:55:23The total cost was about 160,000, so a bit over-budget,
0:55:23 > 0:55:24but, obviously, a bigger project,
0:55:24 > 0:55:27there's always more hidden costs you don't really allow for.
0:55:27 > 0:55:29We're intending to sell the property,
0:55:29 > 0:55:31but if nothing happens in a few months,
0:55:31 > 0:55:33I might consider living there myself, because I do like the area
0:55:33 > 0:55:36and I like the finish we've the property as well,
0:55:36 > 0:55:38so it's a possibility.
0:55:38 > 0:55:41I can understand why Andrew would be tempted to live here,
0:55:41 > 0:55:45but let's see if the opinion of two local estate agents
0:55:45 > 0:55:46can help him make a decision.
0:55:46 > 0:55:49I think the property's been finished to a very high standard.
0:55:49 > 0:55:52The kitchen and the bathroom, especially, you can see
0:55:52 > 0:55:54there's been a lot of money spent on it,
0:55:54 > 0:55:57and generally, it looks very good in everything that's been done.
0:55:57 > 0:55:59I think extending the property was definitely the right thing to do,
0:55:59 > 0:56:02maximising the amount of profit that you could get from it.
0:56:02 > 0:56:04This sort of property in this area's very desirable.
0:56:04 > 0:56:05It's a great location as well,
0:56:05 > 0:56:08so I think it'll attract a lot of interest.
0:56:08 > 0:56:10I think the standard here is really good.
0:56:10 > 0:56:12It sort of feels almost like a party house.
0:56:12 > 0:56:14I think it would be great for entertaining.
0:56:14 > 0:56:16I really like the kitchen with the island
0:56:16 > 0:56:20and the bifolding doors onto the patio.
0:56:20 > 0:56:23I may have done one thing slightly differently.
0:56:23 > 0:56:26I may have tried to squeeze in a small en suite
0:56:26 > 0:56:29in the third bedroom upstairs.
0:56:29 > 0:56:31But has Andrew managed
0:56:31 > 0:56:34to squeeze every bit of profit out of this house?
0:56:34 > 0:56:37His total spend here has been 452,000.
0:56:39 > 0:56:41If I was to put this property on the market,
0:56:41 > 0:56:44I would advertise it offers in excess of £500,000,
0:56:44 > 0:56:47looking to achieve in and around between that sort of figure,
0:56:47 > 0:56:48up to about 525.
0:56:48 > 0:56:53I believe this property would sell in the current market for £525,000.
0:56:54 > 0:56:58The valuation is pretty much what we anticipated from the start,
0:56:58 > 0:57:00so pretty much spot on, really.
0:57:00 > 0:57:04That top-end value would give Andrew a pre-tax profit of 73,000,
0:57:04 > 0:57:06which isn't bad at all,
0:57:06 > 0:57:11but he's not just cash-rich, he's also rich in knowledge.
0:57:11 > 0:57:12I've learnt a lot from doing it.
0:57:12 > 0:57:15I've learnt, obviously, the structural side of things,
0:57:15 > 0:57:17a lot more involved than what I would have really known.
0:57:17 > 0:57:19But also, on the downside,
0:57:19 > 0:57:21there's a lot of hidden costs you don't really allow for.
0:57:21 > 0:57:23The timescales always go over as well.
0:57:23 > 0:57:26Next time, I'll do a lot more research beforehand
0:57:26 > 0:57:27and make sure it's a bit more accurate
0:57:27 > 0:57:29than what it's been with this one.
0:57:29 > 0:57:32So he's gained money and new skills,
0:57:32 > 0:57:36but will he be adding muscle for any more bodybuilding events?
0:57:36 > 0:57:39With the bodybuilding, it's natural shows that I compete in.
0:57:39 > 0:57:40I've done three up to now,
0:57:40 > 0:57:43so this is my last one, it's in nine weeks' time,
0:57:43 > 0:57:45so I'm halfway through my diet at the moment.
0:57:45 > 0:57:47I'm 30 now, so I'm not getting any younger,
0:57:47 > 0:57:49so it could be the last one.
0:57:49 > 0:57:51Any chance of having a cheeky pint
0:57:51 > 0:57:53to celebrate the house being complete?
0:57:54 > 0:57:57There may be a pint, but it'll probably be a protein shake pint,
0:57:57 > 0:57:58as opposed to a beer, but...!
0:58:02 > 0:58:05Property renovation can sometimes be stranger than fiction.
0:58:05 > 0:58:09I think they're more entertaining, and we have got plenty more.
0:58:09 > 0:58:12Indeed, so join us next time for more Homes Under The Hammer.
0:58:12 > 0:58:14- Bye-bye.- Goodbye.- Goodbye.