0:00:02 > 0:00:03Hello and welcome to the show.
0:00:03 > 0:00:05You don't have to be seasoned property developer
0:00:05 > 0:00:08to bag a property at auction. No matter what your background is,
0:00:08 > 0:00:11it's always best to expect the unexpected.
0:00:11 > 0:00:14Yes, property can come and bite you if you're not prepared,
0:00:14 > 0:00:16and that is the key.
0:00:16 > 0:00:19Make sure you do all your research.
0:00:19 > 0:00:22And then bag yourself a bargain under the hammer.
0:00:49 > 0:00:52Well, whenever you are buying property,
0:00:52 > 0:00:53you'll want to make sure that
0:00:53 > 0:00:56your investment is, well, as safe as houses.
0:00:56 > 0:00:59The only way to do that is to make sure you buy wisely.
0:00:59 > 0:01:03Yes, that means doing your research just to seek out that good bit of value.
0:01:03 > 0:01:05Did the buyers on today's show do that?
0:01:05 > 0:01:07Let's find out.
0:01:08 > 0:01:11I'm in the town of Sutton Coldfield looking at this two-bed semi -
0:01:11 > 0:01:13if I can find a way in, that is!
0:01:13 > 0:01:16Uh-oh! I'm not quite sure where the front door is.
0:01:18 > 0:01:20Lucy is having similar problems on the Kent coast
0:01:20 > 0:01:22at this derelict property.
0:01:22 > 0:01:24And this is the original gate.
0:01:28 > 0:01:31At least there is a door on this basement in Ipswich.
0:01:31 > 0:01:33But there ain't much else.
0:01:33 > 0:01:34Wow!
0:01:36 > 0:01:38There's not a lot here to look at.
0:01:40 > 0:01:42All these properties have been sold at auction,
0:01:42 > 0:01:45and we'll find out who bought them and what they paid
0:01:45 > 0:01:46when they went under the hammer.
0:01:51 > 0:01:55Sutton Coldfield is a town seven miles from Birmingham city centre.
0:01:55 > 0:01:58It has plenty of shops, bars and restaurants,
0:01:58 > 0:02:00as well as great transport links into the city,
0:02:00 > 0:02:05so it's easy to reach Birmingham, famous for its jewellery quarter.
0:02:05 > 0:02:08But will the property I'm here to see be a diamond in the rough?
0:02:10 > 0:02:13# Just another diamond in... #
0:02:13 > 0:02:15Well, Sutton Coldfield is definitely
0:02:15 > 0:02:18one of the more desirable areas around Birmingham.
0:02:18 > 0:02:21So when you hear of a two-bed semidetached
0:02:21 > 0:02:23with a guide price of 100,000 quid,
0:02:23 > 0:02:25it's definitely got to be worth a look.
0:02:25 > 0:02:28And it's looking very positive as well because of this,
0:02:28 > 0:02:32"School Keep Clear" all over the road just in front of the property.
0:02:32 > 0:02:34So there's a school nearby.
0:02:34 > 0:02:37Again, a good, positive thing for a family home.
0:02:37 > 0:02:38Let's take a look.
0:02:38 > 0:02:41Uh-oh! I'm not quite sure where the front door is.
0:02:41 > 0:02:46# By the hidden door... #
0:02:47 > 0:02:50The only negative so far is that, of course,
0:02:50 > 0:02:52your own parking will be restricted,
0:02:52 > 0:02:55so you'd need to think about off-street parking.
0:02:55 > 0:02:58So I guess the first question is, would you bother actually moving
0:02:58 > 0:03:00the location of that door to the front, perhaps?
0:03:00 > 0:03:02I guess you've got to talk to a local estate agent,
0:03:02 > 0:03:05find out if it would make financial sense,
0:03:05 > 0:03:07and if you can really be bothered.
0:03:07 > 0:03:10Part of me thinks, no, leave that as it is.
0:03:10 > 0:03:11It actually works quite well.
0:03:11 > 0:03:13You come through there, you've got
0:03:13 > 0:03:15this little storage area under the stairs.
0:03:15 > 0:03:18And then it starts to go a bit wrong.
0:03:18 > 0:03:20I don't like that kitchen.
0:03:20 > 0:03:25It's tiny, it's got this low ceiling with polystyrene tiles on.
0:03:25 > 0:03:27It just doesn't give a very good impression.
0:03:27 > 0:03:29However, there is a solution.
0:03:29 > 0:03:33Because you come in here, you've got a lovely sort of dual-aspect lounge,
0:03:33 > 0:03:37and a little door leading to the kitchen.
0:03:37 > 0:03:39It's so of a time, isn't it?
0:03:39 > 0:03:41Clearly it would be much better
0:03:41 > 0:03:45if this was expanded to the whole size of the wall,
0:03:45 > 0:03:48as in, knock the whole wall down to create what everyone wants these days,
0:03:48 > 0:03:49which is sort of open-plan living.
0:03:49 > 0:03:52And I think then this would be a really spectacular room,
0:03:52 > 0:03:54because you come over this way,
0:03:54 > 0:03:56you've got the bay window out to the front,
0:03:56 > 0:03:59stairs up to your bedrooms.
0:03:59 > 0:04:02This could potentially be the front entrance.
0:04:02 > 0:04:06But again, is it really worth the bother? Probably not.
0:04:06 > 0:04:10So, to sum up, basically this house is all right.
0:04:10 > 0:04:12It just needs a bit of work...
0:04:12 > 0:04:14while upstairs has quite an interesting layout.
0:04:16 > 0:04:20This little mezzanine floor area which leads to the bathroom and loo.
0:04:20 > 0:04:21It's a good size.
0:04:21 > 0:04:23I don't actually have a problem with that.
0:04:23 > 0:04:25- It's strange... - SQUEAK
0:04:25 > 0:04:30Ooh, squeaky floorboards! Back bedroom there, it's a nice size.
0:04:30 > 0:04:33And then through to your main sort of, what I'd call master bedroom,
0:04:33 > 0:04:39I guess, up here. Now, this, potentially is too big.
0:04:39 > 0:04:41Which is a nice thing to have, isn't it?
0:04:41 > 0:04:42You could, if you wanted to,
0:04:42 > 0:04:46I think quite easily, convert this to be two bedrooms.
0:04:46 > 0:04:50So you then basically create yourself a three-bedroom property.
0:04:50 > 0:04:52Comes down to what your personal requirements are,
0:04:52 > 0:04:54and whether or not that would
0:04:54 > 0:04:57add value to rental or overall sale value.
0:04:57 > 0:04:59Something to definitely contemplate.
0:04:59 > 0:05:01That's a slightly longer term view.
0:05:01 > 0:05:02Something which is much shorter,
0:05:02 > 0:05:06needs to be sorted out as soon as possible, is this wall here.
0:05:06 > 0:05:09You've obviously got some signs of damp.
0:05:09 > 0:05:12My guess is it's coming down through probably
0:05:12 > 0:05:15a gully or a guttering problem outside.
0:05:15 > 0:05:19Whatever, that needs to be checked out and resolved pretty darn pronto.
0:05:21 > 0:05:23It's not the biggest house in the world,
0:05:23 > 0:05:27but there are options on how to use the space better.
0:05:27 > 0:05:29The good news is, there's more to see.
0:05:32 > 0:05:34Well, up here from the rear bedroom
0:05:34 > 0:05:36you can get a really good view of the garden,
0:05:36 > 0:05:38and it does look to be really extensive.
0:05:38 > 0:05:43It needs a bit of a tidy up, obviously, but a nice family space.
0:05:43 > 0:05:45Also from up here, you can see some potential.
0:05:45 > 0:05:48You've got those outbuildings down there with the flat roof,
0:05:48 > 0:05:51and that's crying out, from my point of view,
0:05:51 > 0:05:52for having a better roof on it,
0:05:52 > 0:05:55and possibly at the same time, extending.
0:05:55 > 0:05:57Maybe a single, or even a double-storey extension.
0:05:57 > 0:06:00It wouldn't detract from the garden and would give you a lot more space.
0:06:00 > 0:06:03So, a few things to contemplate.
0:06:03 > 0:06:06And to help you along with that contemplation,
0:06:06 > 0:06:10we've invited along a local estate agent to tell us what he thought of
0:06:10 > 0:06:13this house guided at £100,000.
0:06:15 > 0:06:16It is a good-sized property.
0:06:16 > 0:06:20The rooms are really of a decent size.
0:06:20 > 0:06:22However, it's only got two bedrooms upstairs.
0:06:22 > 0:06:25So the property itself would probably
0:06:25 > 0:06:28suit for a first-time buyer,
0:06:28 > 0:06:30young couple, that type of thing, without too big a family.
0:06:32 > 0:06:35So what could it be worth once renovated?
0:06:36 > 0:06:37Once the property's been renovated,
0:06:37 > 0:06:42I would imagine that an achievable figure is in the region of £180,000.
0:06:42 > 0:06:47However, if they do wish to rent it out and become landlords,
0:06:47 > 0:06:52then a figure in the region of £600 to £650 per calendar month is
0:06:52 > 0:06:54probably appropriate.
0:06:54 > 0:06:57Well, there's clearly work to be done on this property,
0:06:57 > 0:07:02but it's definitely ticking one of the really important property purchasing boxes,
0:07:02 > 0:07:07and that is buying a house in a really sought after location.
0:07:07 > 0:07:08That is exactly what you've got here.
0:07:08 > 0:07:12So as long as you keep to a reasonable budget and have
0:07:12 > 0:07:15a bit of fun sorting the place out, you're onto a winner.
0:07:15 > 0:07:17Let's see who agreed when it went under the hammer.
0:07:21 > 0:07:26Vacant freehold semidetached two-bedroom house.
0:07:26 > 0:07:28100? Thank you, sir.
0:07:28 > 0:07:30110, is that, sir?
0:07:30 > 0:07:32I'm at 110. Will we go 120, sir?
0:07:34 > 0:07:37115. Thank you, 115. 120.
0:07:37 > 0:07:40The auction got off to a flying start with lots of interested bidders.
0:07:40 > 0:07:45We re-joined the bidding with the auctioneer looking for 150,000.
0:07:45 > 0:07:46150.
0:07:46 > 0:07:50151. 152. 153. 154.
0:07:50 > 0:07:52No? Been a great bidder, sir.
0:07:52 > 0:07:55153 with you again, sir.
0:07:55 > 0:07:57Are we all done?
0:07:57 > 0:08:00At 153,000...
0:08:00 > 0:08:02One, two, three.
0:08:02 > 0:08:04Congratulations. Well done, sir.
0:08:04 > 0:08:05MUSIC: SOS by Abba
0:08:05 > 0:08:08Paying 53 grand over the guide price
0:08:08 > 0:08:11and getting the property for 153,000 was Charlie.
0:08:11 > 0:08:13He used to work in the jewellery trade,
0:08:13 > 0:08:16but now runs a limousine hire company.
0:08:16 > 0:08:19His wife, Abba fan Wendy, works in retail.
0:08:19 > 0:08:21The music's for you, Wendy.
0:08:21 > 0:08:23This is their first auction purchase,
0:08:23 > 0:08:27so what plans do they have for this two bed semi's SOS?
0:08:27 > 0:08:29Charlie, Wendy, great to meet you both.
0:08:29 > 0:08:30Congratulations!
0:08:30 > 0:08:32Tell me why you wanted to buy this place.
0:08:32 > 0:08:36Well, we like the area and we live close by.
0:08:36 > 0:08:39And we thought that we'd like a bit of a challenge on our hands.
0:08:39 > 0:08:42Is this something you've done before, or is this a first-time?
0:08:42 > 0:08:46Um, this is about the third one we've done now, or will have done.
0:08:46 > 0:08:50And so we're just sort of building upon our portfolio, really.
0:08:50 > 0:08:52And how was the auction?
0:08:52 > 0:08:53It was like, I nearly didn't go.
0:08:53 > 0:08:56- Right.- Nearly didn't go, because I'd got something to do
0:08:56 > 0:08:58in the afternoon. And when we came to the viewing,
0:08:58 > 0:09:01- there were so many people here. And we couldn't get through the door, could we?- No.
0:09:01 > 0:09:03- It was packed.- Oh, really? - Yeah.- Absolutely.
0:09:03 > 0:09:07Properties in this area are quite sought after.
0:09:07 > 0:09:09Well, this particular house,
0:09:09 > 0:09:12the nearest school is at the bottom of the garden.
0:09:12 > 0:09:16- Right.- OK. It's just got Outstanding awarded from Ofsted.
0:09:16 > 0:09:18- Oh, that's nice.- And this was actually a caretaker's house.
0:09:18 > 0:09:20Well, I guess that explains why
0:09:20 > 0:09:22- you've got school written on the road just outside.- Yes!- Yeah.
0:09:25 > 0:09:28Perhaps it was a good job Charlie did make it to that auction,
0:09:28 > 0:09:33otherwise we wouldn't be here in the newest addition to their portfolio.
0:09:33 > 0:09:37And in that portfolio of properties is another on this very street,
0:09:37 > 0:09:39which is currently rented out.
0:09:39 > 0:09:41But they have other plans for this one.
0:09:42 > 0:09:44We've got five children between us.
0:09:44 > 0:09:46- Right.- And we can't really see them managing to
0:09:46 > 0:09:49afford the property ladder, round here in particular.
0:09:49 > 0:09:52- So the idea is, if they're going to rent, they might as well rent from us.- Oh, wow.
0:09:52 > 0:09:57And then when whatever happens to us happens to us eventually, they can do what they like with it then.
0:09:57 > 0:10:00So you're actually restoring it and renovating it for your kids.
0:10:00 > 0:10:03- Yeah.- Basically, yes.- Oh, brilliant. - And then they'll rent it from us,
0:10:03 > 0:10:06and then we'll look at doing another one and carry on
0:10:06 > 0:10:08- until they're all sorted out. - Tell me about your family.
0:10:08 > 0:10:13- How old are they?- Four boys ranging between 33 and 23,
0:10:13 > 0:10:14and a daughter of 16.
0:10:14 > 0:10:19Right. So you're going to charge them...proper rates, or what?
0:10:19 > 0:10:21I mean, it must be difficult.
0:10:21 > 0:10:23Well, we look at market rate for it...
0:10:23 > 0:10:25Right, and then ignore it completely.
0:10:25 > 0:10:28- Yeah!- Well, adjust it, because it won't be going through an agent,
0:10:28 > 0:10:30so we won't have any agents' fees to go.
0:10:30 > 0:10:34But, you know, do it properly at a near enough market rate,
0:10:34 > 0:10:37but enough to make sure that it's affordable for them.
0:10:37 > 0:10:40So when they come to you with the big, sort of, big cat eyes and say,
0:10:40 > 0:10:45"There you go, Daddy and Mummy, here's my £400 rent this month.
0:10:45 > 0:10:49"It doesn't matter, I didn't want to go to the cinema or go out with my friends or go on holiday anyway."
0:10:49 > 0:10:51Does that not sort of...?
0:10:51 > 0:10:52No, it's tough.
0:10:52 > 0:10:53LAUGHTER
0:10:53 > 0:10:57# Don't mind doing it for the kids. #
0:10:58 > 0:11:01Well, how many parents have said that, Charlie?
0:11:01 > 0:11:04The couple would prefer to rent to local people they know,
0:11:04 > 0:11:06or friends and family.
0:11:06 > 0:11:08So whoever gets this will get a good deal,
0:11:08 > 0:11:11because this is a really nice area.
0:11:11 > 0:11:13And it's going to be a nice house, too,
0:11:13 > 0:11:17because Charlie and Wendy have plans to renovate the kitchen, bathroom,
0:11:17 > 0:11:21and if their budget of £20,000 to £25,000 allows,
0:11:21 > 0:11:25move that front door to the, well, front.
0:11:25 > 0:11:28But what are their thoughts on that master bedroom?
0:11:28 > 0:11:30This is two bedrooms at the moment,
0:11:30 > 0:11:35- but the chap next door who we've touched base with already has made it into three.- So might you do that?
0:11:35 > 0:11:36We might do that, yeah.
0:11:36 > 0:11:40Yeah, we had a look on the various comparison sites before the auction.
0:11:40 > 0:11:44Saw what the value was before refurbishment and afterwards,
0:11:44 > 0:11:45and that's how we set the budget for it.
0:11:45 > 0:11:48And what's the timescale?
0:11:48 > 0:11:51Probably three to four months, I think.
0:11:51 > 0:11:54- Right.- We have got a builder who actually lives opposite.
0:11:54 > 0:11:59- Oh, right.- He's going to come in fairly quickly and make sure the place is properly secure.
0:11:59 > 0:12:02There's a little bit of damp in the front bedroom, which he thinks is the roof.
0:12:02 > 0:12:04He's going to fix that for us.
0:12:04 > 0:12:07- Right.- And what kind of involvement are you going to have in the renovation?
0:12:07 > 0:12:10You know, Wendy has a saying for me for DIY.
0:12:10 > 0:12:12Don't involve yourself.
0:12:12 > 0:12:14Don't involve yourself.
0:12:14 > 0:12:16Have you got any DIY disaster stories?
0:12:16 > 0:12:21Yes, I tried to remove a tree root from the kitchen floor.
0:12:21 > 0:12:23Hit it with a cold chisel and it was a gas pipe.
0:12:25 > 0:12:27- Oh, no!- Yeah.
0:12:27 > 0:12:31Well, joking aside, that could have been very serious.
0:12:31 > 0:12:34For your information, DIYers,
0:12:34 > 0:12:36there are pipe and live wire detectors
0:12:36 > 0:12:40that you can buy which will ascertain where danger may lie.
0:12:40 > 0:12:44But if you don't know what you're doing, it's always best to call in experts who do.
0:12:44 > 0:12:46Wendy, who works in soft furnishing retail,
0:12:46 > 0:12:51is going to be a super trooper when it comes to the decor.
0:12:51 > 0:12:54I'll be doing more of the interior side
0:12:54 > 0:12:57and we'll help out, but we're not skilled people.
0:12:57 > 0:13:00- OK.- So we'll just do where we can help, really.
0:13:00 > 0:13:03Well, listen, congratulations. Lovely to meet you both. Good luck with it.
0:13:03 > 0:13:05- OK, thank you very much. - Thank you very much. Thanks.
0:13:06 > 0:13:11So, Charlie and Wendy starting with a really good incentive to get
0:13:11 > 0:13:14this place sorted. They're doing it for their kids.
0:13:14 > 0:13:17Although they will be charging them full market rate.
0:13:17 > 0:13:20Hopefully Charlie won't get involved in the DIY!
0:13:21 > 0:13:26And there are some interesting decisions to be made about internal layouts, etc.
0:13:26 > 0:13:29But you can find out how it all turns out later in the show.
0:13:36 > 0:13:41On a day like today, one of the best places to be is down on the Kent coast.
0:13:43 > 0:13:46We're visiting the village of St Margaret's at Cliffe,
0:13:46 > 0:13:48a few miles from Dover.
0:13:49 > 0:13:55# If you're fond of sand dunes and salty air... #
0:13:55 > 0:13:57This rural village perched above
0:13:57 > 0:13:59the White Cliffs of Dover
0:13:59 > 0:14:01has many claims to fame.
0:14:01 > 0:14:04Being just 21 miles from France,
0:14:04 > 0:14:08it's the nearest English community to the European mainland,
0:14:08 > 0:14:12and the spot from which many hopeful Channel swimmers start out.
0:14:12 > 0:14:15It's also said to be the first place
0:14:15 > 0:14:18in the UK where the sun reaches every morning.
0:14:18 > 0:14:24So, is the property I'm here to see going to be a ray of sunshine, or a damp and dismal dump?
0:14:24 > 0:14:26Let's go and find out.
0:14:35 > 0:14:38I'm here to see a large detached property
0:14:38 > 0:14:43which went to auction with a guide price of £130-140,000.
0:14:43 > 0:14:46So, reasonable guide price, tick.
0:14:46 > 0:14:48Lovely village location, tick.
0:14:48 > 0:14:50And...
0:14:50 > 0:14:53Oh, dear, not so lovely.
0:14:53 > 0:14:58I can barely see this, because I know it's tucked down here, the entrance,
0:14:58 > 0:14:59and I know it's a bit overgrown.
0:14:59 > 0:15:03The building is boarded up and it appears to be derelict.
0:15:05 > 0:15:06How disappointing.
0:15:10 > 0:15:13Whoa! This really is so overgrown.
0:15:13 > 0:15:15And this is the original gate.
0:15:20 > 0:15:23I don't know what I'm going to find in here.
0:15:23 > 0:15:28# Did you know your garden's overgrown? #
0:15:28 > 0:15:31Surrounded by woodland and almost hidden from view,
0:15:31 > 0:15:34here is this very dilapidated building,
0:15:34 > 0:15:41which was in fact three smaller cottages which have now been joined together to make one large house.
0:15:43 > 0:15:46Because the property's boarded up, there is no internal access,
0:15:46 > 0:15:50so I can't explore inside, sadly.
0:15:50 > 0:15:53But just looking at it from out here, look!
0:15:53 > 0:15:55You can see it's in a sorry state.
0:15:55 > 0:15:57So what are your options?
0:15:57 > 0:16:01Well, you could try and refurbish and repair what's here.
0:16:01 > 0:16:05But this place, it could turn into a money pit.
0:16:05 > 0:16:09You could gut the inside and you could remove the rot and decay out,
0:16:09 > 0:16:12but my guess is you'll be left with pretty much just a shell,
0:16:12 > 0:16:14and you will need to do everything
0:16:14 > 0:16:16from replacing the roof to the wiring.
0:16:16 > 0:16:19There'll be the plumbing, heating, the plastering!
0:16:19 > 0:16:24Basically, absolutely everything will need doing here.
0:16:29 > 0:16:34The obvious and cheapest solution would be to flatten the whole site and build a new house.
0:16:36 > 0:16:38But you can't just wade in swinging that sledgehammer.
0:16:38 > 0:16:41You have to get permission to knock this down first.
0:16:41 > 0:16:44And then of course you will need planning permission for whatever you hope
0:16:44 > 0:16:48to build here, which could be quite time consuming.
0:16:48 > 0:16:53However, one huge financial advantage to rebuilding here rather than
0:16:53 > 0:16:57refurbishing is that new-builds are zero rated for VAT.
0:16:57 > 0:17:04So that is a saving of 20% on all your building materials and labour.
0:17:04 > 0:17:07And of course, hopefully you'll end up with a house that perfectly fits
0:17:07 > 0:17:11your needs, rather than making do with what's here.
0:17:11 > 0:17:13This is certainly a project.
0:17:13 > 0:17:15Even clearing the third of an acre site
0:17:15 > 0:17:17is going to be a major undertaking.
0:17:20 > 0:17:24What does a local estate agent make of this woodland hideaway?
0:17:24 > 0:17:28Is it worth buying to restore or bringing in the bulldozers?
0:17:31 > 0:17:34I think unless it's listed, which it's not,
0:17:34 > 0:17:38the council will be quite pragmatic about whether it can be developed,
0:17:38 > 0:17:39a new home put on it.
0:17:39 > 0:17:45There's stringent requirements now for energy saving in property renovation,
0:17:45 > 0:17:52and it would be so much easier to build new than to put energy saving into a dwelling like this.
0:17:52 > 0:17:56And the only other issues here are the plot has become very overgrown.
0:17:56 > 0:17:59There are some substantial trees.
0:17:59 > 0:18:02But unless they are preserved with tree preservation orders,
0:18:02 > 0:18:05you would be able to move them and clear the site.
0:18:08 > 0:18:11So if a new house were built on this site,
0:18:11 > 0:18:13how much could it sell for in this area?
0:18:15 > 0:18:18If you built a new three or four bedroom detached house here,
0:18:18 > 0:18:21it will have a value region £400,000.
0:18:21 > 0:18:25Unlikely you'd build a house here to let,
0:18:25 > 0:18:32but a rental here for a detached three, four bedroom detached house would be £1,500 per calendar month.
0:18:34 > 0:18:37OK, there's no escaping the fact that this will be a big project
0:18:37 > 0:18:41and the new owner will also have to choose between either rescuing and
0:18:41 > 0:18:43refurbishing this old building
0:18:43 > 0:18:47or just braving it out and knocking it down and starting again.
0:18:47 > 0:18:49So, what did they opt to do?
0:18:49 > 0:18:54Let's head to auction and find out who bought this detached and derelict property.
0:18:56 > 0:18:58Lot 52.
0:18:58 > 0:19:01Lots of interest. Start bid at 130,000.
0:19:01 > 0:19:02130 to start me.
0:19:03 > 0:19:05I don't mind. 120.
0:19:05 > 0:19:07120 I have.
0:19:07 > 0:19:09Thank you. At 120. 122.
0:19:09 > 0:19:11And five. And eight.
0:19:11 > 0:19:13The bidding was fast and furious,
0:19:13 > 0:19:18and we re-joined the auction as the price reached 190,000.
0:19:18 > 0:19:22190. 190. 192, sir?
0:19:22 > 0:19:25192. 194.
0:19:25 > 0:19:28194. 196 is bid.
0:19:28 > 0:19:30198. And 200.
0:19:30 > 0:19:33198 I'm bid, second row right.
0:19:33 > 0:19:36198 then, for the first time.
0:19:36 > 0:19:38One... 200.
0:19:38 > 0:19:39Do you want 201?
0:19:39 > 0:19:42Another thousand? Yes.
0:19:42 > 0:19:44201. And 202.
0:19:45 > 0:19:48At 201,000 then, for the first time...
0:19:49 > 0:19:51201,000 for the second.
0:19:51 > 0:19:54201,000 for the third and final time.
0:19:54 > 0:19:57At 201, are you all done?
0:19:57 > 0:19:58Sold at 201,000.
0:19:58 > 0:20:01Congratulations and thank you to my under-bidders.
0:20:04 > 0:20:07# Tear down these walls... #
0:20:07 > 0:20:12The final bid of 201,000 was made by local couple Tony and Kim.
0:20:12 > 0:20:14Tony works as a mechanic for a ferry company
0:20:14 > 0:20:17and Kim owns her own beauty salon.
0:20:17 > 0:20:20They've lived in St Margaret's at Cliffe for 21 years.
0:20:22 > 0:20:24# Tear down these walls
0:20:26 > 0:20:28# It's gotta be all or nothin... #
0:20:29 > 0:20:32Kim and Tony, so lovely to meet you two today.
0:20:32 > 0:20:36- You too.- What I want to know is the history of this house here.
0:20:36 > 0:20:38I mean, how long has it been standing?
0:20:38 > 0:20:43Before the Second World War, at least, maybe a bit before that.
0:20:43 > 0:20:45And what can you tell me about who lived in the house?
0:20:45 > 0:20:48Well, as far as we're aware, it was an old lady.
0:20:48 > 0:20:50She lived here up until about five years ago.
0:20:50 > 0:20:54- Yeah.- So how did this lady live in her house?
0:20:54 > 0:20:59Well, she lived on her own and she stockpiled wood to burn in the fires.
0:20:59 > 0:21:02There's a fireplace in just about every room.
0:21:02 > 0:21:04She had no electricity.
0:21:04 > 0:21:06All she had was fresh running water.
0:21:06 > 0:21:09And the local people used to just look out for her,
0:21:09 > 0:21:12make sure the chimney was smoking so they knew she was up.
0:21:12 > 0:21:14So she was literally using paraffin lamps at night?
0:21:14 > 0:21:17- Yeah.- Yeah.- I mean, that's incredible!
0:21:17 > 0:21:20- I know. I know.- What an amazing lady.- I know, amazing.
0:21:20 > 0:21:23So, guys, answer me this - are you going to knock it down?
0:21:23 > 0:21:26- Yes.- Yes. 100%.
0:21:26 > 0:21:28So essentially, you have bought a plot here.
0:21:28 > 0:21:32- Yes.- Yeah.- Now, let's talk about the auction day and how much you actually paid.
0:21:32 > 0:21:34How do you feel about that?
0:21:34 > 0:21:37We paid, I think, top price.
0:21:37 > 0:21:43But we've been looking for some time and most properties in this area,
0:21:43 > 0:21:44especially towards the coast,
0:21:44 > 0:21:47are fetching a lot more than what we paid here.
0:21:47 > 0:21:50And we could have gone on waiting another two years and nothing turned up.
0:21:50 > 0:21:53Kim, had you set your heart on this, whatever?
0:21:53 > 0:21:54Yeah, definitely.
0:21:54 > 0:21:56It's been a dream and so the location's perfect.
0:21:56 > 0:21:58It's just everything we want.
0:22:03 > 0:22:07So after years of searching, they've found their perfect plot.
0:22:07 > 0:22:10Now all they have to do is knock down one house and build another.
0:22:13 > 0:22:15# Just gotta learn to see
0:22:15 > 0:22:18# The forest for the trees. #
0:22:18 > 0:22:22So, guys, what sort of budget do you have for this work?
0:22:22 > 0:22:25You know, we're hoping for around 150,000...
0:22:25 > 0:22:27- OK.- ..for the build,
0:22:27 > 0:22:30and then obviously extras, sort of kitchens and bathrooms,
0:22:30 > 0:22:34obviously that's... You know, depending on who we use, I suppose.
0:22:34 > 0:22:36We're going to do as much as we can ourselves.
0:22:36 > 0:22:37- Yeah.- Not the building of the property,
0:22:37 > 0:22:42but the clearing of the land and the building itself to be demolished.
0:22:42 > 0:22:45So we're going to save a lot of money by doing that. We've got family and friends...
0:22:45 > 0:22:48- Yeah.- ..and local tradesmen that will help.
0:22:49 > 0:22:55Kim and Tony would be wise to get in the appropriate expert trades for the demolition.
0:22:55 > 0:22:57The site has been deemed unstable,
0:22:57 > 0:23:00so anyone working here will have to know what they're doing.
0:23:00 > 0:23:02But assuming the demolition all goes smoothly,
0:23:02 > 0:23:04what are they planning to build?
0:23:06 > 0:23:09Sort of wanting a three-bedroom detached, sort of, you know,
0:23:09 > 0:23:11cottage style property with some character.
0:23:11 > 0:23:14And we've always wanted something like that,
0:23:14 > 0:23:15because our current home's more modern.
0:23:15 > 0:23:18So a dream from a young age actually,
0:23:18 > 0:23:20I've always wanted a cottage-style property.
0:23:20 > 0:23:22So, guys, what type of materials are you hoping to use?
0:23:22 > 0:23:26Is this going to be a traditional brick-built cottage?
0:23:26 > 0:23:27- No.- Possibly...
0:23:27 > 0:23:28- Well...- No, possibly!
0:23:28 > 0:23:31I love it! You don't know, do you?
0:23:31 > 0:23:35- Well...- Yeah, I mean, inside will definitely be oak frames.
0:23:35 > 0:23:37- Yeah.- But the finish,
0:23:37 > 0:23:38obviously we're yet to sort of discuss,
0:23:38 > 0:23:41- and that depends on sort of finances, really.- Yeah.
0:23:41 > 0:23:42So you're thinking oak framed.
0:23:42 > 0:23:44- Yes.- Are you thinking one of these kit houses
0:23:44 > 0:23:47that come over that you can assemble in a few days?
0:23:47 > 0:23:49- Yeah.- Months, weeks. - Yeah.- That's the plan.
0:23:49 > 0:23:52I mean, obviously if you do the bases yourself,
0:23:52 > 0:23:55you can save a lot of money and then they just erect
0:23:55 > 0:23:57the timber frame house with a crane, basically.
0:23:57 > 0:24:01Being realistic, guys, how long do you think this is going to take you?
0:24:01 > 0:24:06We've done the hard bit, which is finding a plot where we want to live in this village,
0:24:06 > 0:24:09and now we've got it, there's no real rush.
0:24:09 > 0:24:15We've got this year to get plans and prices and obviously clear the land
0:24:15 > 0:24:17and then possibly start building next year.
0:24:17 > 0:24:20I can't wait to see the end result. I think that you're both really
0:24:20 > 0:24:21passionate about this,
0:24:21 > 0:24:24and it really does show, so I'm so excited for both of you.
0:24:24 > 0:24:26- Thank you.- Congratulations, and good luck with the project.
0:24:26 > 0:24:28- Yes, thank you very much. - Well done!- Thank you.
0:24:28 > 0:24:31Well, you see, dreams can come true.
0:24:31 > 0:24:36Kim and Tony have searched for years to find their perfect plot to build a dream home,
0:24:36 > 0:24:39and they have found it in the very village they live in and
0:24:39 > 0:24:41love, which is perfect.
0:24:41 > 0:24:43But they have got a long road ahead,
0:24:43 > 0:24:45and they've only just started searching
0:24:45 > 0:24:49for an architect and builders and how they want to build their home.
0:24:49 > 0:24:51And they still have to deal with the local planners.
0:24:51 > 0:24:56So will these guys get the permission they need to build their ideal home?
0:24:56 > 0:24:59Or will their dreams turn into a nightmare?
0:24:59 > 0:25:02You can find out how the couple get on later in the programme.
0:25:04 > 0:25:06Still to come, I won't let a dingy basement
0:25:06 > 0:25:08dash my hopes of a good renovation.
0:25:08 > 0:25:12I'm not sure if it's pebble dash or balderdash,
0:25:12 > 0:25:13but it's pretty anyway.
0:25:15 > 0:25:19Back in Kent, have Tony and Kim given up on their dream?
0:25:19 > 0:25:21- So many people do. - So many people do.- They give up.
0:25:21 > 0:25:23I can actually understand why people do.
0:25:28 > 0:25:32Time now to return to the town of Sutton Coldfield,
0:25:32 > 0:25:35seven miles outside the city of Birmingham.
0:25:35 > 0:25:39It was here that I looked around this former school caretaker's house,
0:25:39 > 0:25:41which was suffering from an unlikely problem.
0:25:43 > 0:25:47This, potentially, is too big.
0:25:47 > 0:25:49Which is a nice thing to have, isn't it?
0:25:49 > 0:25:53You could, if you wanted to, I think quite easily, convert this to be two bedrooms.
0:25:53 > 0:25:57So you then basically create yourself a three-bedroom property.
0:25:58 > 0:25:59Aside from a bit of damp,
0:25:59 > 0:26:02the two bedrooms and the sizeable bathroom
0:26:02 > 0:26:04were dated, but had potential.
0:26:04 > 0:26:08There was plenty of space on the ground floor, but like upstairs,
0:26:08 > 0:26:10it called for a rethink.
0:26:10 > 0:26:13The pokey kitchen needed opening up.
0:26:13 > 0:26:17The front door wasn't at the front, and the garden needed some taming.
0:26:19 > 0:26:22Taking a chance on this property were Charlie and Wendy,
0:26:22 > 0:26:25who paid £153,000 for the house,
0:26:25 > 0:26:29which was to be the first to help their five grown-up kids out.
0:26:29 > 0:26:32They planned to rent the house out at an affordable rate.
0:26:32 > 0:26:36You know, doing it properly at a near-enough market rate,
0:26:36 > 0:26:38but enough to make sure that it's affordable for them.
0:26:38 > 0:26:41So when they come to you with the big, sort of, big cat eyes and say,
0:26:41 > 0:26:46"There you go, Daddy and Mummy, here's my £400 rent this month.
0:26:46 > 0:26:50"It doesn't matter, I didn't want to go to the cinema or go out with my friends or go on holiday anyway."
0:26:50 > 0:26:53- Does that not sort of...? - No, it's tough.
0:26:54 > 0:26:59Well, Charlie's previous experience meant Wendy's interpretation of DIY
0:26:59 > 0:27:02was "Don't involve yourself".
0:27:02 > 0:27:05So the trades will be called in for this one,
0:27:05 > 0:27:08but they had a healthy budget of 20,000 to 25,000,
0:27:08 > 0:27:11and a three to four-month timescale.
0:27:11 > 0:27:13We're back a year later to see how they got on.
0:27:19 > 0:27:21It looks much smarter,
0:27:21 > 0:27:24and the couple have moved the entrance to the front of the house and
0:27:24 > 0:27:27created off-street parking.
0:27:27 > 0:27:29But how is it looking inside?
0:27:29 > 0:27:32The former hallway has been knocked through,
0:27:32 > 0:27:34creating a much more spacious kitchen,
0:27:34 > 0:27:40with white subway-style tiles and dark wood worktops.
0:27:40 > 0:27:44The small outhouse has been transformed into a downstairs WC.
0:27:48 > 0:27:52The living area has been modernised and painted in contemporary tones.
0:27:53 > 0:27:57All those retro features have been brought up-to-date.
0:27:57 > 0:28:01There's even a fantastic set of French doors at the back of the house,
0:28:01 > 0:28:03opening onto a much tidier garden.
0:28:08 > 0:28:10The changes don't stop there.
0:28:10 > 0:28:14The large master bedroom is now two small single rooms,
0:28:14 > 0:28:16which means the house is now a three bed.
0:28:16 > 0:28:21When we met, they were undecided, so what changed?
0:28:21 > 0:28:23We got a potential tenant who was looking
0:28:23 > 0:28:27particularly for a three-bedroomed house, so we decided to go ahead with it,
0:28:27 > 0:28:32took some advice from local estate agents on what it might,
0:28:32 > 0:28:34how it might affect the values, and away we went.
0:28:34 > 0:28:37As the saying goes, if the plan doesn't work,
0:28:37 > 0:28:40change the plan, but never the goal.
0:28:40 > 0:28:42There's been another plan change.
0:28:42 > 0:28:46None of the couple's five kids are now going to be moving in.
0:28:46 > 0:28:50But they have kept their policy of renting to family and friends.
0:28:50 > 0:28:53Our original plan was to rent out,
0:28:53 > 0:28:55which is what we are actually going to be doing.
0:28:55 > 0:28:58And my best friend, Martine, is going to be moving in by the end of the week.
0:28:58 > 0:29:03So, what did the couple have to do to get the house tenant-ready?
0:29:03 > 0:29:07First thing was to repair the roof, which was leaking into the front bedroom.
0:29:07 > 0:29:11We had to skim every wall, all the ceilings in the top rooms came down.
0:29:11 > 0:29:13They had to be replaced.
0:29:13 > 0:29:15All new double glazing right through.
0:29:15 > 0:29:17New radiators, central heating.
0:29:17 > 0:29:18So it's been a total refurb.
0:29:20 > 0:29:21That's quite a list.
0:29:21 > 0:29:23And thanks to their team of builders,
0:29:23 > 0:29:25Charlie didn't involve himself.
0:29:25 > 0:29:29But why did it take so much longer than that three to four-month timescale?
0:29:31 > 0:29:35As we went along, we changed our plans and were a bit undecided about
0:29:35 > 0:29:40certain things. And as we went along, our timescale got longer.
0:29:40 > 0:29:42I've learnt to have a firm plan before you start.
0:29:42 > 0:29:45And that means that you don't mess the contractors about
0:29:45 > 0:29:46when they're already on site.
0:29:46 > 0:29:48Wise words indeed.
0:29:48 > 0:29:53But how did the lack of planning affect their £20,000 to £25,000 budget?
0:29:54 > 0:29:57We did go over budget quite considerably.
0:29:57 > 0:29:59We did a lot more work than we were anticipating.
0:29:59 > 0:30:02But we also decided to go that extra mile,
0:30:02 > 0:30:05as we've got a long-term tenant and we thought the more work we do now,
0:30:05 > 0:30:07the less work we may have in the future,
0:30:07 > 0:30:10and we spent round about 38,000.
0:30:10 > 0:30:12Crikey, that's a bit of an overspend.
0:30:12 > 0:30:15Time to find out if Charlie and Wendy have spent wisely.
0:30:18 > 0:30:23We invited two local estate agents to give their opinion on Charlie and
0:30:23 > 0:30:26Wendy's £191,000 investment.
0:30:30 > 0:30:32It's a nice family home,
0:30:32 > 0:30:36with a really good finish and would go very well in this area.
0:30:36 > 0:30:38What my first impression of the property is,
0:30:38 > 0:30:41is that it's been nicely renovated throughout and comprehensively done.
0:30:41 > 0:30:46It's the best idea, splitting the second double bedroom
0:30:46 > 0:30:47into two rooms.
0:30:47 > 0:30:49This is a really popular area for schools,
0:30:49 > 0:30:52so having that option is really great.
0:30:52 > 0:30:55Otherwise, it's a stud wall so you could actually take it out if you wanted to,
0:30:55 > 0:30:56and create two double rooms again.
0:30:58 > 0:31:01The agents are happy, but as Charlie and Wendy will be renting out the
0:31:01 > 0:31:03property, what kind of figure could it achieve?
0:31:06 > 0:31:09The current rental value of the property in this market would be
0:31:09 > 0:31:13somewhere between £775 and £825 per calendar month.
0:31:13 > 0:31:16In the rental market, this property would achieve between
0:31:16 > 0:31:18£800 and £850 per calendar month.
0:31:18 > 0:31:20Even with that top rental figure,
0:31:20 > 0:31:25that overspend has eaten into their yield, giving them just 5%.
0:31:25 > 0:31:28So, what do Charlie and Wendy think of these values?
0:31:28 > 0:31:30I'm happy with the lower one,
0:31:30 > 0:31:33in fact that's what I would have expected.
0:31:33 > 0:31:35The second one's even better.
0:31:35 > 0:31:38What could it achieve if they decided to sell?
0:31:38 > 0:31:41A property like this would fetch somewhere in the region of between
0:31:41 > 0:31:44£200,000 and £225,000.
0:31:44 > 0:31:47I would put this property on the open sales market at just under
0:31:47 > 0:31:53£270,000, hoping to achieve in the region of £260,000.
0:31:54 > 0:31:56- There's a big difference there. - Big difference.
0:31:56 > 0:31:58I would have been quite happy with the first one,
0:31:58 > 0:32:00- I'm ecstatic with the last one! - That's amazing.
0:32:00 > 0:32:03Some jaw-dropping there, and no wonder.
0:32:03 > 0:32:05Despite that overspend,
0:32:05 > 0:32:11that 260,000 resale valuation could mean a profit of £69,000,
0:32:11 > 0:32:13minus taxes and expenses, of course.
0:32:13 > 0:32:16So, Wendy, could your friend still move in?
0:32:18 > 0:32:21Well, as she's got the removal company booked for two days away,
0:32:21 > 0:32:23I think she'll be moving in.
0:32:24 > 0:32:27And what's next for Charlie and Wendy?
0:32:28 > 0:32:30Holiday in two weeks' time, which is our wedding anniversary.
0:32:30 > 0:32:32And then we start all over again.
0:32:37 > 0:32:40Ipswich in Suffolk is the county capital.
0:32:40 > 0:32:44It sits on the River Orwell and is still a working port.
0:32:44 > 0:32:46It also has good rail links into London
0:32:46 > 0:32:49and you can be in the capital in just over an hour.
0:32:49 > 0:32:53But with plenty of museums and theatres on your doorstep,
0:32:53 > 0:32:55you may not have to venture so far.
0:32:56 > 0:32:59# Take pride in Ipswich
0:33:00 > 0:33:02# Take pride in... #
0:33:02 > 0:33:04Just ten minutes outside the town centre,
0:33:04 > 0:33:07and 15 minutes from the train station,
0:33:07 > 0:33:12the property I'm here to see is in the basement of a three-storey detached building,
0:33:12 > 0:33:14with a guide price of £10,000 to 15,000.
0:33:14 > 0:33:16I'm going to take a look.
0:33:16 > 0:33:19Yes, I did say £10,000 to £15,000,
0:33:19 > 0:33:21but this is just a basement.
0:33:21 > 0:33:24There's no planning permission for anything at all.
0:33:24 > 0:33:29So while it might be in a residential street at the bottom of a residential house,
0:33:29 > 0:33:32currently all you are getting is a basement.
0:33:32 > 0:33:35So £10,000 to £15,000 - is it really a bargain?
0:33:38 > 0:33:40Wow.
0:33:41 > 0:33:43There's not a lot here to look at.
0:33:43 > 0:33:45It's... I've never done anything like this.
0:33:45 > 0:33:47A basement with absolutely...
0:33:49 > 0:33:50..everything needs doing down here.
0:33:50 > 0:33:52The floors, the walls.
0:33:52 > 0:33:55There's a little bit of a space here.
0:33:55 > 0:33:58But through here, there's a nice big lounge,
0:33:58 > 0:34:01or what would be a nice big lounge.
0:34:01 > 0:34:04Wasn't expecting a room of this size in a basement,
0:34:04 > 0:34:06but already got a fireplace there.
0:34:06 > 0:34:10A window there, which is boarded up to the front of the property.
0:34:10 > 0:34:12Get rid of those boards, you would get a bit of daylight in.
0:34:12 > 0:34:16But surprisingly, this is OK.
0:34:16 > 0:34:17I'll quickly look in.
0:34:18 > 0:34:20Well, OK...in the sense that you
0:34:20 > 0:34:23can just about see there is space here
0:34:23 > 0:34:25to make a one or maybe a two-bedroom flat.
0:34:25 > 0:34:29Although there is electricity, everything, and I mean everything,
0:34:29 > 0:34:32needs to be done. Floors, walls, plumbing, lighting,
0:34:32 > 0:34:37not forgetting safety aspects like fire doors and smoke detectors.
0:34:37 > 0:34:39And a whole host of other things.
0:34:41 > 0:34:45# All I want is everything
0:34:47 > 0:34:51# All I want is everything, yeah! #
0:34:51 > 0:34:55But if you're finding yourself overwhelmed by the task in hand,
0:34:55 > 0:34:59sanctuary is at least close.
0:34:59 > 0:35:01This lovely well-kept garden here.
0:35:01 > 0:35:03It would be split between the three properties,
0:35:03 > 0:35:05but it's a lovely selling point all the same.
0:35:05 > 0:35:08Sunday afternoon, sitting out here with a nice cup of tea.
0:35:08 > 0:35:12Perfect. And I've got to mention the wall at the back of the house.
0:35:12 > 0:35:16I'm not sure if it's pebble dash or balderdash, but it's pretty anyway.
0:35:18 > 0:35:21A communal garden also raises the issue of communal charges,
0:35:21 > 0:35:23so you should investigate that, too.
0:35:23 > 0:35:29Here's one bit of news without a downside - the lease has 172 years.
0:35:29 > 0:35:32# But I take what I can get... #
0:35:32 > 0:35:34Am I just clutching at straws
0:35:34 > 0:35:37when I say I think this could be a potential goer?
0:35:37 > 0:35:40What does a local estate agent think? Does he agree?
0:35:40 > 0:35:43Demand for this sort of property is very strong.
0:35:43 > 0:35:47It is a basement property, but at the same time,
0:35:47 > 0:35:49it's in an attractive building.
0:35:50 > 0:35:52It's in a popular road.
0:35:52 > 0:35:55It obviously needs a substantial amount of work.
0:35:55 > 0:35:59I'm guessing that the property needs tanking to make sure it's completely watertight.
0:35:59 > 0:36:02You're looking between sort of £30,000 and £40,000 to turn
0:36:02 > 0:36:04it into an inhabitable property.
0:36:04 > 0:36:07There is a very attractive garden.
0:36:07 > 0:36:10That's certainly going to be a big appeal to a lot of people that are
0:36:10 > 0:36:12looking for this sort of property.
0:36:12 > 0:36:15Particularly as it's a basement flat,
0:36:15 > 0:36:18to have that garden space makes a big difference.
0:36:19 > 0:36:21And of course, apart from the garden,
0:36:21 > 0:36:23the other attractive thing about this space was the guide price,
0:36:23 > 0:36:25ten to 15 grand.
0:36:26 > 0:36:31But with that potential spend of £30,000 to £40,000 on top of that,
0:36:31 > 0:36:34would it be worth all the effort to make it fit to live in?
0:36:35 > 0:36:37On the sales market, if you're looking
0:36:37 > 0:36:40to make it into a two-bedroom property,
0:36:40 > 0:36:43you could look to achieve £65,000 to £70,000.
0:36:44 > 0:36:48And what could it be worth on the rental market?
0:36:48 > 0:36:51Once renovated, I think with this property being a two-bedroom property,
0:36:51 > 0:36:53you'd be looking to achieve between
0:36:53 > 0:36:57£450 per calendar month and £475 per calendar month.
0:36:57 > 0:37:01Now, the renovation of this property is not something
0:37:01 > 0:37:03I would like to undertake myself,
0:37:03 > 0:37:06but they do say one man's trash is another man's treasure.
0:37:06 > 0:37:08Let's see who fancied a bit of treasure
0:37:08 > 0:37:09when it went under the hammer.
0:37:12 > 0:37:15So, lot 41. A rather interesting building, this one.
0:37:15 > 0:37:18And the basement of the property is five rooms.
0:37:18 > 0:37:22I don't know whether you'll get planning consent for residential use,
0:37:22 > 0:37:24but that seems a likely opportunity,
0:37:24 > 0:37:26although you'd need to get planning consent to do that.
0:37:26 > 0:37:28£10,000, put me in.
0:37:28 > 0:37:2910,000, we're away.
0:37:29 > 0:37:31At 10,000. Do I see 11?
0:37:32 > 0:37:35Is the gentleman going to get it? £10,000. Are you all done, then?
0:37:35 > 0:37:36At ten... No, I didn't think so.
0:37:36 > 0:37:3711, 12.
0:37:38 > 0:37:4013. 14.
0:37:40 > 0:37:4215. 16.
0:37:42 > 0:37:48So, after a bit of a slow start, a basement battle had started,
0:37:48 > 0:37:51and we rejoin the bidding at £25,000.
0:37:51 > 0:37:52Are we all done then, at 25,000?
0:37:52 > 0:37:5526. 26. 27.
0:37:56 > 0:37:5927, 28.
0:37:59 > 0:38:0129. 29.
0:38:01 > 0:38:02And 30. 31.
0:38:04 > 0:38:05No?
0:38:05 > 0:38:07At £30,000, then.
0:38:07 > 0:38:09On my left at 30.
0:38:09 > 0:38:10For the first time, then.
0:38:10 > 0:38:13I'm going to call it. For the second time at 30,000.
0:38:13 > 0:38:1731. 30.5, OK, I'll take it, I don't mind.
0:38:17 > 0:38:2031. 31.
0:38:20 > 0:38:21And a half.
0:38:21 > 0:38:25No. At £31,000, for the first time,
0:38:25 > 0:38:26for the second time.
0:38:26 > 0:38:29At 31,000, are you all down and out?
0:38:29 > 0:38:30At £31,000...
0:38:32 > 0:38:34Congratulations. Well done, sir.
0:38:35 > 0:38:39So for nearly double the guide price at £31,000,
0:38:39 > 0:38:42the basement space in Ipswich was bought by Kenan.
0:38:42 > 0:38:45Kenan's a solicitor and lives in London,
0:38:45 > 0:38:50so I was intrigued to know why he bought a subterranean space in Suffolk.
0:38:50 > 0:38:52# Take a chance on us
0:38:52 > 0:38:55# Take a chance on us Take a chance on us... #
0:38:55 > 0:38:57So, Kenan, nice to meet you.
0:38:57 > 0:38:59- Likewise.- Tell us about the auction,
0:38:59 > 0:39:01and why you wanted to go for this property.
0:39:01 > 0:39:04Well, I keep asking that question myself.
0:39:05 > 0:39:11Um, I think the attractive thing about this was the price.
0:39:11 > 0:39:12Initially.
0:39:12 > 0:39:15And I quite liked the size of it, and I thought,
0:39:15 > 0:39:19"Goodness. Compared to prices in London, it's a good purchase."
0:39:19 > 0:39:21Is there anything else that you've found,
0:39:21 > 0:39:25or anything else you've come across that made you think,
0:39:25 > 0:39:27"I didn't think of that. I wish I'd have done more research."
0:39:27 > 0:39:32I actually did not do any research at all before I purchased.
0:39:32 > 0:39:34The only thing I did, I read the documents.
0:39:34 > 0:39:39The communal garden and what contributions I need to make.
0:39:39 > 0:39:42But in terms of what needs to be done, no.
0:39:42 > 0:39:45- You didn't view it?- No. I missed it.
0:39:45 > 0:39:50- You missed it.- I just came just a couple of hours before the auction,
0:39:50 > 0:39:54walked around and took a few pictures.
0:39:54 > 0:39:57That was it. It was a bit risky purchase.
0:39:57 > 0:39:58When we watch programmes,
0:39:58 > 0:40:01I always thought it's a bit silly that these people just...
0:40:02 > 0:40:04And I'm one of them now.
0:40:04 > 0:40:07But I see this as my project.
0:40:07 > 0:40:09It doesn't seem to frighten you at all.
0:40:09 > 0:40:11No, apart from the spiders!
0:40:11 > 0:40:16I'm not frightened of spiders, but I am scared of blind property buying.
0:40:16 > 0:40:18Take my advice, don't do it.
0:40:18 > 0:40:20Are you into a challenge? Is that what you wanted, a challenge?
0:40:20 > 0:40:23I think it is. I've never done this in my life,
0:40:23 > 0:40:26but my wife and I just keep talking about it.
0:40:26 > 0:40:27Can we do this, can we do this?
0:40:27 > 0:40:29And this is the opportunity.
0:40:29 > 0:40:32What was your wife's reaction? Has your wife been here to see it?
0:40:32 > 0:40:35- No.- She hasn't.- No, I try not to bring her.
0:40:36 > 0:40:39Her reaction was, I went home and said to her,
0:40:39 > 0:40:41"Look, I've been to an auction."
0:40:41 > 0:40:44And first thing she said, "Don't tell me you purchased something!"
0:40:46 > 0:40:49- Oh, wow.- I thought she was going to be thrilled, but...
0:40:49 > 0:40:51No, she's getting used to it now.
0:40:52 > 0:40:56Well, the only thing that stops me hiding behind my hands
0:40:56 > 0:40:58is the fact that he paid £31,000.
0:40:58 > 0:41:01Obviously not an insignificant amount,
0:41:01 > 0:41:04but not so high that it's a ridiculous risk.
0:41:04 > 0:41:07You know what they say, sometimes you've got to speculate to accumulate.
0:41:09 > 0:41:13You must have something in your head that you know that you want to do
0:41:13 > 0:41:14with it. You must have a vision.
0:41:14 > 0:41:17Well, my vision is ideally a two-bedroom flat.
0:41:17 > 0:41:23- Yeah.- Or if not, one bedroom, spacious apartment.
0:41:23 > 0:41:25As you see, there are two windows
0:41:25 > 0:41:30and I believe that this entrance here, potentially, could be a lounge.
0:41:30 > 0:41:34- Mm-hmm.- Walk-in kitchen, maybe open-plan kitchen.
0:41:36 > 0:41:39And there is a room on the right side, which is relatively big.
0:41:39 > 0:41:41That could be a nice living room.
0:41:41 > 0:41:46And there is a room over there which is a bedroom.
0:41:46 > 0:41:49But again, it's all subject to planning permission.
0:41:49 > 0:41:50There is no planning permission.
0:41:52 > 0:41:53- So you are... - That's what makes it risky.
0:41:53 > 0:41:55You're actually at, you know,
0:41:55 > 0:41:58base one at the moment, aren't you?
0:41:58 > 0:42:00It's all up in the air at the moment, to be honest.
0:42:00 > 0:42:04It's been so, happened so quickly, we haven't really planned.
0:42:04 > 0:42:06- We didn't sit down. - What's it going to...
0:42:06 > 0:42:09What do you think it's going to cost you to turn this around from what it
0:42:09 > 0:42:11is now to what you want it to be?
0:42:11 > 0:42:15It looks like we're looking at probably at least £30,000.
0:42:15 > 0:42:17Around that area.
0:42:18 > 0:42:21Kenan does at least have a friend who is an electrician,
0:42:21 > 0:42:26but otherwise he will be employing builders to do the work once, or if,
0:42:26 > 0:42:29he gets planning permission to convert to a flat.
0:42:29 > 0:42:30And his timescale?
0:42:30 > 0:42:33Well, that again will depend very much on the planners.
0:42:35 > 0:42:37So what do you preferably want to do?
0:42:37 > 0:42:39Do you want to do it up and sell it or do it up and rent it?
0:42:39 > 0:42:41What is your choice, if you had a choice?
0:42:41 > 0:42:43- First choice.- Well, I quite like this area,
0:42:43 > 0:42:45to be honest with you, if my wife was willing to come here
0:42:45 > 0:42:47I would probably live here. It's not...
0:42:47 > 0:42:50So you'd be happy to do it up and live here actually yourself?
0:42:50 > 0:42:52I would not necessarily just the basement level,
0:42:52 > 0:42:56but potentially you can purchase one of the upstairs flats.
0:42:56 > 0:42:58And there is a lovely garden.
0:42:58 > 0:43:00It could be a nice start.
0:43:00 > 0:43:04We could do it up, rent it, and then maybe live upstairs.
0:43:04 > 0:43:08Or find a way of combining two and have a lovely,
0:43:08 > 0:43:12potentially four, five bedroom house.
0:43:12 > 0:43:15Well, I'm going to say you're very brave man, taking on something this.
0:43:15 > 0:43:17- You're smiling!- Or a stupid one!
0:43:17 > 0:43:19Well, we'll find out. We'll definitely find out.
0:43:19 > 0:43:22- Kenan, I wish you all the best. - Thank you very much.- Good man.
0:43:22 > 0:43:24- Thanks for coming.- Good luck to you. Wish you all the best.- Thank you.
0:43:26 > 0:43:28I think Kenan is a very brave man,
0:43:28 > 0:43:32taking on a project like that for his first property.
0:43:32 > 0:43:36There's so much to do. He's got to do floors, ceilings, all the services.
0:43:36 > 0:43:40Will he get there in the end? You can find out later on in the programme.
0:43:43 > 0:43:46Doing up a property always takes longer than you think,
0:43:46 > 0:43:49because there's always a reason for a delay.
0:43:49 > 0:43:53Yes. So have our two remaining properties ground to a halt or raced ahead?
0:43:53 > 0:43:55Let's go back and find out.
0:43:58 > 0:44:02Time to return to the lovely seaside village of St Margaret's at Cliffe
0:44:02 > 0:44:04on the Kent coast,
0:44:04 > 0:44:07just a few miles from the famous White Cliffs of Dover.
0:44:08 > 0:44:14It was here that Lucy saw a property in an Area of Outstanding Natural Beauty.
0:44:14 > 0:44:16But the house was anything but.
0:44:16 > 0:44:19Oh, dear, not so lovely.
0:44:19 > 0:44:24I can barely see this, because I know it's tucked down here, the entrance.
0:44:24 > 0:44:25And I know it's a bit overgrown.
0:44:25 > 0:44:30The building is boarded up and it appears to be derelict.
0:44:31 > 0:44:35It was so derelict, it was deemed too dangerous to access.
0:44:35 > 0:44:40There seemed to be two options for this generous three-acre plot.
0:44:40 > 0:44:42Restore the house to its former glory,
0:44:42 > 0:44:44or knock it down and start afresh.
0:44:46 > 0:44:51It was the latter that local couple Tony and Kim had planned
0:44:51 > 0:44:53for their £201,000 purchase.
0:44:53 > 0:44:56But while they were decided on that plan,
0:44:56 > 0:44:58they had one or two things still to thrash out.
0:44:58 > 0:45:03Is this going to be a traditional brick-built cottage?
0:45:03 > 0:45:04- No.- Possibly...
0:45:04 > 0:45:06- Well...- No, possibly!
0:45:06 > 0:45:08I love it! You don't know, do you?
0:45:08 > 0:45:10- Well...- Yeah, I do.
0:45:10 > 0:45:13I mean, inside will definitely be oak frames.
0:45:13 > 0:45:16- Yeah.- But the finish, obviously we're yet to, sort of, discuss.
0:45:18 > 0:45:21They had time to mull it over, as before they started building,
0:45:21 > 0:45:25they would have to clear the plot and of course get planning permission.
0:45:25 > 0:45:29But they were in no rush, as this was to be their forever home.
0:45:29 > 0:45:33They hoped the work would cost 150,000.
0:45:34 > 0:45:37Two and a half years later, when we return,
0:45:37 > 0:45:41has Tony and Kim's dream of building their own house come true?
0:45:42 > 0:45:47# Nobody said it was easy
0:45:49 > 0:45:55# No-one ever said it would be this hard
0:45:57 > 0:46:02# Oh, take me back to the start. #
0:46:02 > 0:46:07Well, the old house has gone and the overgrown site cleared.
0:46:07 > 0:46:10There are footings, but why has it taken so long to get to this point?
0:46:13 > 0:46:15Unfortunately, the council decided
0:46:15 > 0:46:18that it was a non-designated heritage asset.
0:46:18 > 0:46:21So we've had to convince the council,
0:46:21 > 0:46:23with structural engineers' reports,
0:46:23 > 0:46:26various other reports, bat surveys,
0:46:26 > 0:46:30to allow us to demolish what was here.
0:46:30 > 0:46:32To prove that it was beyond economical repair.
0:46:32 > 0:46:37A non-designated heritage site can be a building,
0:46:37 > 0:46:40monument or area that has a degree of significance
0:46:40 > 0:46:45that must be taken into consideration before it can be demolished.
0:46:45 > 0:46:47Tony and Kim faced further issues,
0:46:47 > 0:46:51as the plot overlooks an Area of Outstanding Natural Beauty.
0:46:51 > 0:46:56So they had to amend their plans for the house to meet the appropriate conditions.
0:46:57 > 0:47:01Building a property from scratch is not for the faint-hearted,
0:47:01 > 0:47:03but they've taken it in their stride.
0:47:06 > 0:47:08I'm glad we didn't give up, because it would have been a shame.
0:47:08 > 0:47:10So many people do. They give up.
0:47:10 > 0:47:13So many people do. I can actually understand why people do, but...
0:47:13 > 0:47:16You know, we'd come too far to do that.
0:47:16 > 0:47:19But now we're beyond that and at the foundation stage
0:47:19 > 0:47:21and actually seeing things happening,
0:47:21 > 0:47:24I'm feeling I'm getting that excitement and enthusiasm back for it.
0:47:26 > 0:47:29Kim's initial ideas for their dream home were drawn up by a local architect,
0:47:29 > 0:47:32and they'll be starting the build any day now.
0:47:32 > 0:47:35So what exactly have they opted for?
0:47:36 > 0:47:40The design of the house was purely a three-bedroomed cottage.
0:47:40 > 0:47:42Wanted to create something with character.
0:47:42 > 0:47:46But it's going to be a green oak-framed cottage,
0:47:46 > 0:47:50so the character inside will be with the oak.
0:47:50 > 0:47:51And then from the outside
0:47:51 > 0:47:54it's going to be a traditional
0:47:54 > 0:47:56brick and roof tiles.
0:47:56 > 0:47:58Nice little porch coming off the front.
0:47:58 > 0:48:01So, yeah, just trying to keep it, although it's a new build,
0:48:01 > 0:48:03trying to make it look traditional as well.
0:48:03 > 0:48:07I know not all of us find it easy to make sense of plans.
0:48:07 > 0:48:09So, take it away, Kim.
0:48:09 > 0:48:10# I've really got to you
0:48:12 > 0:48:15# With my imagination... #
0:48:17 > 0:48:20So this room here will be the study.
0:48:20 > 0:48:23And then behind that will be the kitchen.
0:48:23 > 0:48:28And then off of the kitchen is the utility room/cloak room.
0:48:28 > 0:48:30This is the dining room.
0:48:30 > 0:48:34The room behind here is going to be the sunroom.
0:48:34 > 0:48:36That'll be nice looking out to the garden.
0:48:36 > 0:48:40And then this room along here will be the living room.
0:48:40 > 0:48:43- And there'll be an inglenook... - And there's, like, an inglenook fireplace
0:48:43 > 0:48:45that will go in there as well.
0:48:45 > 0:48:48So that's the layout of the property.
0:48:48 > 0:48:52Further to that, upstairs there will be three bedrooms,
0:48:52 > 0:48:55an en-suite and family bathroom.
0:48:55 > 0:48:56It is slowly coming together,
0:48:56 > 0:49:00and Tony and Kim hope to move in in ten months' time.
0:49:00 > 0:49:04They've increased their budget, and now plan to spend 280 grand,
0:49:04 > 0:49:08which will bring their estimated investment to 481,000.
0:49:11 > 0:49:15But what could their dream home be worth once complete?
0:49:15 > 0:49:17We invited two local estate agents along
0:49:17 > 0:49:20to tell us what they thought of Tony and Kim's plans.
0:49:20 > 0:49:24From what I've seen of the plans and the footings at the moment,
0:49:24 > 0:49:26I think it's a very unique build.
0:49:26 > 0:49:28I think the finish they're going to put on it
0:49:28 > 0:49:29is going to be very special.
0:49:29 > 0:49:31I think they've got a lovely spot here
0:49:31 > 0:49:33with the rural views either side,
0:49:33 > 0:49:36it's fantastic and I think it will be quite a popular house.
0:49:36 > 0:49:38I've seen pictures of the original property
0:49:38 > 0:49:42and the property now and what it's going to look like,
0:49:42 > 0:49:44and from what I can see from the plans
0:49:44 > 0:49:46it's going to be an absolutely fantastic property.
0:49:46 > 0:49:48I think they've done a really good job of the layout.
0:49:48 > 0:49:51I think it's great to have such a large utility room off the kitchen,
0:49:51 > 0:49:54and as well to have a sunroom, just to make the most of this garden.
0:49:54 > 0:49:57It's an old village with some lovely property in it,
0:49:57 > 0:50:00and so they've got to keep it in the style of the village,
0:50:00 > 0:50:03so with the oak beams and everything as per the plans,
0:50:03 > 0:50:05it's going to be very good.
0:50:05 > 0:50:07They seem rather taken with it,
0:50:07 > 0:50:13but could Tony and Kim make a return on their projected total spend of 481,000?
0:50:15 > 0:50:19I would estimate that the property would be worth between
0:50:19 > 0:50:21£450,000 and £500,000.
0:50:21 > 0:50:24I think the value of this property once built, from the plans I have seen,
0:50:24 > 0:50:27will be somewhere in the region of £450,000-£500,000.
0:50:27 > 0:50:33However, I think with the finish of the timber and the Kent peg roofs could potentially get slightly more.
0:50:33 > 0:50:36No, it's about right, but I think it will be worth more when they see the finished product.
0:50:36 > 0:50:40Of course it's hard to put a value on something that isn't built yet,
0:50:40 > 0:50:43but with a potential £19,000 profit so far,
0:50:43 > 0:50:46they're at least not going to lose money.
0:50:46 > 0:50:48Not that they'll be selling, anyway.
0:50:49 > 0:50:52Obviously we're looking forward to moving in,
0:50:52 > 0:50:55so we'll take some time out when we move in to enjoy it, get settled,
0:50:55 > 0:50:58and then just go from there, really.
0:50:58 > 0:50:59Just relax and enjoy.
0:51:04 > 0:51:08We're back in Ipswich, the county capital of Suffolk.
0:51:08 > 0:51:13It was here I saw a basement of a three-storey detached house
0:51:13 > 0:51:17guided at ten to 15 grand. But was it the bargain it first appeared?
0:51:21 > 0:51:22Wow.
0:51:23 > 0:51:25There's not a lot here to look at.
0:51:25 > 0:51:28It's... I've never done anything like this,
0:51:28 > 0:51:30a basement with absolutely...
0:51:30 > 0:51:32Everything needs doing down here.
0:51:33 > 0:51:35There was no gas or plumbing.
0:51:35 > 0:51:38And although there were signs of electrics,
0:51:38 > 0:51:40it would need a full rewire.
0:51:40 > 0:51:45Not to mention there was no planning permission to actually do anything.
0:51:45 > 0:51:48There was, however, a very nice shared garden at the rear,
0:51:48 > 0:51:50so there was a silver lining.
0:51:50 > 0:51:55# And it's hi ho, silver lining
0:51:55 > 0:51:58# Everywhere you go... #
0:51:58 > 0:52:04It seemed successful bidder and London-based solicitor Kenan was up for the challenge.
0:52:04 > 0:52:07Despite not having reviewed the property,
0:52:07 > 0:52:11he was pleased with the purchase, even if his wife was none the wiser.
0:52:13 > 0:52:16I went home and said to her, "Look, I've been to an auction."
0:52:16 > 0:52:20And first thing she said, "Don't tell me you purchased something!"
0:52:22 > 0:52:25Alarm bells ringing at every turn.
0:52:25 > 0:52:29Though Kenan did seem to have a realistic budget of £30,000,
0:52:29 > 0:52:31and his timescale is flexible,
0:52:31 > 0:52:35as were the plans for when this flat should be finished.
0:52:35 > 0:52:37He thought he might even move in himself.
0:52:39 > 0:52:42We're back two years later to find out how he got on.
0:52:45 > 0:52:48# Lovers in a cellar
0:52:48 > 0:52:52# Of dreams... #
0:52:58 > 0:53:01It's completely different.
0:53:01 > 0:53:07The front room is now a cosy lounge area with wooden floors and soft furnishings.
0:53:07 > 0:53:11Kenan has even managed to squeeze in a small study space.
0:53:14 > 0:53:16The good work continues in the other rooms,
0:53:16 > 0:53:19with the large front room now a spacious double bedroom
0:53:19 > 0:53:22with smart looking carpets and double glazed windows.
0:53:28 > 0:53:31The room at the back is now a second double bedroom.
0:53:31 > 0:53:34The flat's been rewired and has full central heating.
0:53:40 > 0:53:43There's now a kitchen with all the mod cons at the back.
0:53:43 > 0:53:47It's all fully plumbed in, with a top of range drainage system.
0:53:49 > 0:53:52The floors have all been dug out with full insulation
0:53:52 > 0:53:55and damp-proofing installed to make this watertight.
0:53:57 > 0:54:00And there's a compact family bathroom just beyond the kitchen.
0:54:00 > 0:54:04So how exactly did he do it all?
0:54:04 > 0:54:08The first thing was to find out whether or not the council would allow me
0:54:08 > 0:54:11to convert it into a flat.
0:54:12 > 0:54:16I had to instruct architects and planning specialists to make
0:54:16 > 0:54:20applications. It took months, but in the end they granted.
0:54:20 > 0:54:24And then found some local, reliable builders.
0:54:24 > 0:54:27And then they did everything, basically.
0:54:27 > 0:54:32Last we heard, this was going to be Kenan's big DIY challenge,
0:54:32 > 0:54:36but it doesn't sound like he was as hands-on as he first thought he would be.
0:54:37 > 0:54:42Having watched previous episodes of your programmes, my wife and I were, like,
0:54:42 > 0:54:44"Oh, we can always do that."
0:54:44 > 0:54:49But, no. Because it's not a job where you just come and deal with touch-ups.
0:54:49 > 0:54:51It was a massive project.
0:54:51 > 0:54:55I decided, I thought, "You know what? I have to give it to professionals."
0:54:55 > 0:54:58Because I had no idea where to start from.
0:54:58 > 0:55:01Looking back now, I think it was a very, very risky purchase,
0:55:01 > 0:55:05because I hadn't even seen inside the flat when I purchased it.
0:55:05 > 0:55:09We're not going to say we told you so, not us.
0:55:09 > 0:55:11So how risky did it turn out to be?
0:55:11 > 0:55:13Was that £30,000 realistic?
0:55:15 > 0:55:18Had it been an existing flat,
0:55:18 > 0:55:22it would have probably been a reasonable amount,
0:55:22 > 0:55:25but I ended up spending about £45,000.
0:55:25 > 0:55:31My brother ended up funding the entire thing and now we see that it's more like his flat than ours.
0:55:31 > 0:55:34OK, so not realistic at all.
0:55:34 > 0:55:38And it took him two years, so what was the hold-up?
0:55:39 > 0:55:42Connection of electricity is just...
0:55:42 > 0:55:44It took about five months or six months.
0:55:44 > 0:55:46I can't believe it.
0:55:46 > 0:55:49Connecting gas took another few months,
0:55:49 > 0:55:55and finding builders was further, probably, a few months.
0:55:55 > 0:55:58But overall, the main thing was the funding,
0:55:58 > 0:56:01because I didn't have the money.
0:56:01 > 0:56:05It's quite the catalogue, but now it's done it is looking great.
0:56:05 > 0:56:08But does Kenan's wife agree?
0:56:08 > 0:56:11I showed the pictures to my wife, and she's really impressed.
0:56:11 > 0:56:13In fact, now what she says is,
0:56:13 > 0:56:16"Well, how about we pay your brother off,
0:56:16 > 0:56:21"we keep the property and we get a mortgage on it and then we go and buy another property?"
0:56:21 > 0:56:24So it's a lot of "we"s now!
0:56:25 > 0:56:27Before Kenan hits the auction again,
0:56:27 > 0:56:33let's find out if there's money to be made on his and his brother's £76,000 investment.
0:56:35 > 0:56:38We invited along two local estate agents
0:56:38 > 0:56:41to see what they thought of the changes.
0:56:41 > 0:56:44Let's start with the agent who valued it earlier.
0:56:45 > 0:56:47The owner's done a very, very good job
0:56:47 > 0:56:51of turning the property into a two-bedroom flat
0:56:51 > 0:56:55and has completed an extremely good renovation.
0:56:55 > 0:56:58We were the auctioneers that sold this property a couple of years ago.
0:56:58 > 0:57:00It has changed somewhat dramatically.
0:57:00 > 0:57:03It has been totally transformed by the purchaser
0:57:03 > 0:57:06and turned into a very comfortable two-bedroom apartment.
0:57:08 > 0:57:09It is a cosy flat,
0:57:09 > 0:57:13but could it make Kenan and his brother a comfortable profit?
0:57:13 > 0:57:17I would expect to achieve a sum in the region of £85,000 to £90,000,
0:57:17 > 0:57:19and if it was put up for rent,
0:57:19 > 0:57:23I would expect to achieve £500 to £525 per calendar month.
0:57:23 > 0:57:28The sale valuation of this property would be £90,000 to £95,000,
0:57:28 > 0:57:34and the rental price would be £550 to £575 per calendar month.
0:57:36 > 0:57:41Those top values could make Kenan and his brother £19,000,
0:57:41 > 0:57:45minus taxes and fees, and a yield of just over 9%.
0:57:45 > 0:57:48So what does he think of the numbers?
0:57:48 > 0:57:51Well, that's pretty good. I think. When you look at the yield...
0:57:53 > 0:57:5675,000, wow, that's really good. I'm pleased.
0:57:58 > 0:58:00Pleased, but undecided as to whether
0:58:00 > 0:58:02to rent the flat or stay in it himself.
0:58:02 > 0:58:06Either way, will he be back at the auctions any time soon?
0:58:06 > 0:58:10Who knows? I will speak to my wife and we could no doubt
0:58:10 > 0:58:14go into another property. Maybe at a bigger scale.
0:58:14 > 0:58:16Other bids. You never know.
0:58:20 > 0:58:22Well, that's it for today's show.
0:58:22 > 0:58:23But don't panic, dear viewer.
0:58:23 > 0:58:26We'll be back with more stories from the auctions for you next time.
0:58:26 > 0:58:29Yeah, so stay tuned and keep watching Homes Under The Hammer.
0:58:29 > 0:58:31- Bye for now.- Bye.