0:00:02 > 0:00:03Hello and welcome to the show.
0:00:03 > 0:00:06We both enjoy investing in the property market and hope to
0:00:06 > 0:00:09get a deal or two along the way, but it's not as easy as you think.
0:00:09 > 0:00:13No, so what's the best way to potentially bag yourself a bargain?
0:00:13 > 0:00:15Head down to your local property auction.
0:00:41 > 0:00:45When it comes to buying property at auction, there's no messing about.
0:00:45 > 0:00:48When a hammer falls, you are exchanging contracts.
0:00:48 > 0:00:51Yes, and you'd normally expect to complete on the purchase
0:00:51 > 0:00:54in 28 days or less.
0:00:54 > 0:00:56So, what inspired the buyers on today's show?
0:00:58 > 0:01:01We start in Biggin Hill in Kent where the problem seems
0:01:01 > 0:01:03pretty obvious to Lucy.
0:01:03 > 0:01:06It's cold! It's actually colder in this house than outside.
0:01:08 > 0:01:09But in Princetown, Devon,
0:01:09 > 0:01:12this classic Dartmoor cottage requires more thought.
0:01:12 > 0:01:14It's just one of those ones you have to move in here
0:01:14 > 0:01:17for a little bit and just... Hmm, mull it over.
0:01:18 > 0:01:19Whilst in Stoke-on-Trent,
0:01:19 > 0:01:24problems could be avoided if the golden rules weren't broken.
0:01:24 > 0:01:27- Did you view this one? - No. I did send Steve.
0:01:29 > 0:01:31All these properties have been sold at auction.
0:01:31 > 0:01:34And we'll find out who bought them and what they've paid
0:01:34 > 0:01:36when they went under the hammer.
0:01:36 > 0:01:37Sold, 279. Well done.
0:01:41 > 0:01:43MARTIN: Today, Lucy is in Biggin Hill,
0:01:43 > 0:01:47the only settlement of Greater London with a Kent county address.
0:01:47 > 0:01:52Believe it or not, this picturesque town is only 19 miles from London.
0:01:52 > 0:01:55The downside is there's no train station,
0:01:55 > 0:01:58which makes it more tricky to commute.
0:01:58 > 0:02:01But that has kept area prices relatively low,
0:02:01 > 0:02:03making it an affordable place to be.
0:02:03 > 0:02:04For London, that is.
0:02:07 > 0:02:13And the guide price for the property I'm here to see is £220,000 plus.
0:02:13 > 0:02:15Now, for that, you get a two-bedroom bungalow
0:02:15 > 0:02:18along this busy residential street.
0:02:18 > 0:02:21It's a convenient place to live and that's because it's on a bus route,
0:02:21 > 0:02:24which will take you to New Addington's tram link.
0:02:24 > 0:02:28The first thing I've noticed, these big old trees.
0:02:28 > 0:02:31Wow, they're huge and they're creating a loss of light.
0:02:31 > 0:02:34So, let's go inside and see if it's as dark as it looks on the outside.
0:02:36 > 0:02:39Well, I don't know about you, Lucy, but I'm scared.
0:02:39 > 0:02:42It looks like a Hammer House Of Horror!
0:02:46 > 0:02:50Well, this house is looking really sorry for itself on the outside.
0:02:50 > 0:02:54Huh! And really sorry for itself on the inside.
0:02:54 > 0:02:56But what I do like are the proportions.
0:02:56 > 0:03:01You've got a really nice, wide hallway here, a lovely big kitchen.
0:03:01 > 0:03:04Down this corridor, two huge bedrooms.
0:03:04 > 0:03:06I mean, the sizes are quite phenomenal.
0:03:06 > 0:03:09You've got a little bathroom tucked round there.
0:03:09 > 0:03:12And at the back of the property, again, look at the proportions.
0:03:12 > 0:03:14A really good-sized lounge.
0:03:14 > 0:03:17But it's a bit depressing coming in here because it's cold.
0:03:17 > 0:03:21It's actually colder in this house than outside.
0:03:21 > 0:03:25It feels and smells musty. I think there's a bit of damp up here.
0:03:25 > 0:03:28You can see a great big hole in the ceiling there.
0:03:28 > 0:03:32There's so much you need to do to give this place a face-lift.
0:03:32 > 0:03:36But what I love is this massive window here.
0:03:36 > 0:03:39I would love to put some sliding doors or some bi-folding doors
0:03:39 > 0:03:43on the back here, because what lies out there, well,
0:03:43 > 0:03:45that's a surprise and I'll tell you more about that later.
0:03:49 > 0:03:51Well, surprises are well and good.
0:03:51 > 0:03:54But does this house have any nasty ones lurking?
0:03:56 > 0:03:58It can do with new windows.
0:03:59 > 0:04:02A new kitchen wouldn't go amiss.
0:04:03 > 0:04:07And a blue bathroom suite won't be to everyone's taste.
0:04:09 > 0:04:10But the layout does work here.
0:04:10 > 0:04:13Although Lucy has something up her sleeve.
0:04:14 > 0:04:18Now, this is a big bedroom. You know what I would do?
0:04:18 > 0:04:21I would reinstate this, build up a partition wall here,
0:04:21 > 0:04:24divide this into two separate rooms.
0:04:24 > 0:04:26And that would leave you with two good-sized bedrooms.
0:04:26 > 0:04:29You could then go from a two to a three-bed bungalow.
0:04:29 > 0:04:31It would be a more flexible way of living
0:04:31 > 0:04:33and it would be worth more money, too.
0:04:33 > 0:04:34So, why not cash in?
0:04:36 > 0:04:39# I'm building a wall
0:04:39 > 0:04:41# A fine wall... #
0:04:43 > 0:04:45OK, Lucy. Time to unveil that surprise.
0:04:47 > 0:04:52Now, out here, there is a lot of garden. Look at this! Wow!
0:04:52 > 0:04:55It is so big. Gosh!
0:04:55 > 0:04:59There's one word ringing in my head right now - potential.
0:04:59 > 0:05:03There is easily the space to extend out the back here,
0:05:03 > 0:05:05giving you so much more internal space.
0:05:05 > 0:05:09And then, there'll be less garden to keep under control, too.
0:05:09 > 0:05:12And if you really wanted to take this bungalow to the next level,
0:05:12 > 0:05:16well, you could think about extending upwards as well.
0:05:16 > 0:05:18There are many options here.
0:05:18 > 0:05:22Big family home on a big kid-friendly plot being one.
0:05:22 > 0:05:24But that could cost a lot of money.
0:05:24 > 0:05:28Alternatively, there is a relative scarcity of bungalows
0:05:28 > 0:05:31and they are much sought after.
0:05:31 > 0:05:35A house on one level with a garden is preferred by many home-buyers.
0:05:35 > 0:05:39A smaller outlay could gain you more. So, swings and roundabouts.
0:05:41 > 0:05:42We asked a local property expert
0:05:42 > 0:05:47to take a look at this bungalow guided at £220,000 plus.
0:05:47 > 0:05:49What about extending? Is this a good idea.
0:05:49 > 0:05:53The ideal way to extend a bungalow would be to go both backwards
0:05:53 > 0:05:55and upwards to give it its full potential.
0:05:55 > 0:05:57There is an array of properties on the road already,
0:05:57 > 0:06:01so subject to relevant planning, it would be the best way.
0:06:01 > 0:06:03You could potentially create four bedrooms at the property
0:06:03 > 0:06:07and there's a huge demand for four-bedroom properties in the area.
0:06:07 > 0:06:09So, an extension might be desirable.
0:06:09 > 0:06:11But if you're a developer,
0:06:11 > 0:06:15it comes down to whether it's the most viable financial decision.
0:06:16 > 0:06:18Renovated as a two-bedroom bungalow,
0:06:18 > 0:06:22the property will probably sell for somewhere in the region of £300,000.
0:06:22 > 0:06:23As a three-bedroom bungalow,
0:06:23 > 0:06:27it will probably sell for somewhere in the region of £330,000.
0:06:27 > 0:06:30So, simply by reinstating the wall and a door,
0:06:30 > 0:06:34you could be increasing the value by around 30 grand. Amazing!
0:06:34 > 0:06:38Making it a four bed, you would have the time and costs of an extension
0:06:38 > 0:06:40but it would be worth it.
0:06:40 > 0:06:42So, as an extended four-bedroom property,
0:06:42 > 0:06:45it would fetch somewhere in the region of £380,000.
0:06:45 > 0:06:48Yes! This bungalow needs so much work.
0:06:48 > 0:06:50But it's an auction lot with potential.
0:06:50 > 0:06:52So, who thought this was too good to miss?
0:06:52 > 0:06:54Let's head to auction and find out.
0:06:59 > 0:07:02Two-bed detached bungalow. Obviously, it needs some attention.
0:07:02 > 0:07:07Start 200, go upwards from there. 200 in the front, 205 anywhere?
0:07:07 > 0:07:12I saw the gent first, 205. 210, 215.
0:07:12 > 0:07:16220, 225. 230...
0:07:16 > 0:07:20After a hesitant start, the bidding increases slowly but surely,
0:07:20 > 0:07:23and we return at 270,000.
0:07:23 > 0:07:26270, 271.
0:07:26 > 0:07:28Yeah? 272.
0:07:31 > 0:07:33271, 272.
0:07:33 > 0:07:37Back in, another crack, madam? If not, 271.
0:07:37 > 0:07:39First time, second time.
0:07:39 > 0:07:43Third and last time, 272. 273.
0:07:43 > 0:07:46Nearly there, yeah? 273. 274, sir.
0:07:48 > 0:07:49You hiding? 274.
0:07:50 > 0:07:54273, first time, second time, third and last time...
0:07:56 > 0:07:59Sold, 273, well done, you got there.
0:07:59 > 0:08:03Clearly delighted at getting the bungalow for 273,000
0:08:03 > 0:08:05were local couple Claire and Chris.
0:08:06 > 0:08:11They have two children, Eva, who's nine and Jack, who's six.
0:08:11 > 0:08:13And this is going to be their family home.
0:08:13 > 0:08:15Lucy met them to find out more.
0:08:16 > 0:08:20Chris and Claire, congratulations. Tell me about auction day!
0:08:20 > 0:08:23- How was it? I could see you got really excited, Claire.- I...
0:08:23 > 0:08:26The guy before us bought his for, like, £1.9 million
0:08:26 > 0:08:28and he was like, "Sold for 1.9 million."
0:08:28 > 0:08:30And then he was like, "Fine."
0:08:30 > 0:08:33And then he was like, "Sold for 273," and I was like, "Yes!"
0:08:34 > 0:08:37He was like, "Grrr!" It was really embarrassing.
0:08:37 > 0:08:38Tell me, whose idea was it to buy this
0:08:38 > 0:08:40and why have you bought this? Chris?
0:08:40 > 0:08:43We bought this, we've been looking for a bungalow for a while
0:08:43 > 0:08:47- because Claire, unfortunately she's got MS and mobility problems.- Yes.
0:08:47 > 0:08:49So, we've been looking for a bungalow
0:08:49 > 0:08:51and there was nothing in our price range, was there?
0:08:51 > 0:08:53No, not round here, it was too expensive.
0:08:53 > 0:08:55And then we came across this one. And...
0:08:55 > 0:08:58Well, you texted me a picture of it one night, when he was drunk.
0:08:58 > 0:09:01And well, I can't really say what I said about it.
0:09:01 > 0:09:03I thought he was actually joking.
0:09:03 > 0:09:05And then, we saw it about a week later and then
0:09:05 > 0:09:07a couple of days later, it went to auction.
0:09:07 > 0:09:09- So, it was all really, really quick. - So, hold on a minute.
0:09:09 > 0:09:11So, late at night, he texted you a photograph
0:09:11 > 0:09:13- of the outside of the bungalow. - Yes.
0:09:13 > 0:09:15And how did you react?
0:09:15 > 0:09:19- Erm, I said a bad word.- Did it look awful?- Two bad words, yes.
0:09:19 > 0:09:21- Did it look awful from the text? - Yeah, it looked awful.
0:09:21 > 0:09:24- I said no way, and then we went and saw it a few days later.- Yeah.
0:09:24 > 0:09:27- And he managed to make me calm down. - It was still awful, wasn't it?
0:09:27 > 0:09:28It was still awful.
0:09:28 > 0:09:31So, now you've actually bought it and for the price you paid,
0:09:31 > 0:09:33- Claire, how do you feel now? - Ecstatic.- Are you really pleased?
0:09:33 > 0:09:36Yeah, really, really pleased. I can't believe it.
0:09:36 > 0:09:37We've wanted it for so long.
0:09:37 > 0:09:40Because obviously, I can't do my stairs at home anymore
0:09:40 > 0:09:42and things like that, so it's going to make life so much easier.
0:09:42 > 0:09:45So, for you guys, it's all about trying to give you
0:09:45 > 0:09:46as much independence.
0:09:46 > 0:09:48Because I know you're moving from a house
0:09:48 > 0:09:52to a bungalow because you need to have one storey, one-level living.
0:09:52 > 0:09:53Yeah.
0:09:53 > 0:09:56OK, so you've bought this bungalow in this condition.
0:09:56 > 0:09:58Did you blow all your money on auction day?
0:09:58 > 0:10:01Do you have a contingency fund? How are the finances bearing up?
0:10:01 > 0:10:04We've... We've got nothing at the moment.
0:10:04 > 0:10:06But we've got a house to sell.
0:10:06 > 0:10:09So, once we've sold that, will have funds to do our...
0:10:09 > 0:10:11- We've got bits, we can start. - Yeah, we can start.
0:10:11 > 0:10:13But obviously, we can't do the extension.
0:10:13 > 0:10:15We'll probably renovate what's here but we can't extend...
0:10:15 > 0:10:17Until we've sold.
0:10:18 > 0:10:20So, the bigger plans for an extension are for
0:10:20 > 0:10:22after their current house is sold.
0:10:22 > 0:10:25In the meantime, they're going to finance what they can
0:10:25 > 0:10:27with help from family and a bridging loan.
0:10:27 > 0:10:30And they hope that over the next four months,
0:10:30 > 0:10:33they can get this place into a habitable state.
0:10:33 > 0:10:35So, what sort of budget do you want to spend on your Plan A?
0:10:35 > 0:10:37Which is coming in and refurbing it.
0:10:37 > 0:10:40And to what level are you two going to refurb this property?
0:10:41 > 0:10:44- So, over to you. - Over to me, right.
0:10:44 > 0:10:48About 20,000 initially, just to redo what's here.
0:10:48 > 0:10:51- And then...- Kitchen and bathroom. - Kitchen, bathroom.
0:10:51 > 0:10:55Plastering, electrics, plumbing, new central heating. The lot.
0:10:56 > 0:10:59Eek! That's quite tight. How do you feel about that?
0:10:59 > 0:11:02- Do you think that's realistic?- Yes.
0:11:02 > 0:11:03Can you do a lot of the work yourself?
0:11:03 > 0:11:06Yeah, I can do all the electrics.
0:11:06 > 0:11:08And I've got builder friends
0:11:08 > 0:11:10that are going to do a lot of work for us.
0:11:10 > 0:11:11Mates rates.
0:11:12 > 0:11:13- And plumbers.- Hopefully.
0:11:13 > 0:11:15We've got lots of good friends that are going to help us out.
0:11:15 > 0:11:18Our friends have been incredible, already, just mucking in
0:11:18 > 0:11:20and saying they'll help whenever we need them.
0:11:20 > 0:11:22So, it's really, really good.
0:11:22 > 0:11:24Chris used to be a theatre electrician,
0:11:24 > 0:11:28so his skills are going to be handy, as are their friends'.
0:11:28 > 0:11:31Maybe that £20,000 will eke out for the first stage.
0:11:31 > 0:11:33But time is another issue.
0:11:33 > 0:11:35How are you going to squeeze all this in
0:11:35 > 0:11:37with your very demanding jobs?
0:11:37 > 0:11:39Because Claire, I know that you're a busy acting
0:11:39 > 0:11:42- and you're teaching at the moment, aren't you?- Yeah, so I teach drama.
0:11:42 > 0:11:44Because of that, I get the holidays off.
0:11:44 > 0:11:47So, we're going to have a good, have the whole summer, summer holidays.
0:11:47 > 0:11:49And Chris works in a school, so he's the same.
0:11:49 > 0:11:51So, that's absolutely fantastic
0:11:51 > 0:11:53- that you both get the holidays off together.- Yeah.
0:11:53 > 0:11:55- And the kids will be around. - Exactly.
0:11:55 > 0:11:57- You're really going to have to use that time wisely.- Yeah.
0:11:57 > 0:11:59So, what do the kids think of this house?
0:11:59 > 0:12:01Because it's very strange when you bring little ones
0:12:01 > 0:12:04to a property like this. They can't see beyond what's here now!
0:12:04 > 0:12:05I bet it's quite scary for them, isn't it?
0:12:05 > 0:12:07- Eva wasn't impressed, was she?- No.
0:12:07 > 0:12:09She walked in, she was like, "I've got to sleep in here?!"
0:12:09 > 0:12:11Our little boy when we came down to see it,
0:12:11 > 0:12:15he said, "But if we like it and want to buy it, how will we get it home?"
0:12:15 > 0:12:16- Did he?- Yeah, so I was like,
0:12:16 > 0:12:18"We don't have to just put it in a bag and take it back."
0:12:18 > 0:12:21Yeah, but I think they're coming round to the idea of it.
0:12:21 > 0:12:24And we've taken them the shops and said like, "What colours do you like
0:12:24 > 0:12:27"for your bedrooms?" And things like that, so they're getting excited.
0:12:27 > 0:12:30And they've enjoyed working in the garden, haven't they?
0:12:30 > 0:12:31Yeah. We've put them to work.
0:12:31 > 0:12:33So, you've got a bit of a journey ahead.
0:12:33 > 0:12:36- You've got to sell that house of yours.- Yeah. Oh, fingers crossed!
0:12:36 > 0:12:39Guys, it's been such a pleasure seeing you today and hearing
0:12:39 > 0:12:42your lovely story and I know this is going to be a huge success.
0:12:42 > 0:12:44- So, congratulations. - Thank you very much.- Well done.
0:12:44 > 0:12:45- Thank you.- Chris, lovely to see you.
0:12:47 > 0:12:50I'm so happy that Chris and Claire have finally found
0:12:50 > 0:12:53a property that they can adapt and call home.
0:12:53 > 0:12:57But there are some financial concerns here and a lot hinges
0:12:57 > 0:12:59on them selling their current house.
0:12:59 > 0:13:03Join me later in the programme and you can see if they've had an easy ride.
0:13:10 > 0:13:13Off to Devon now and Princetown.
0:13:13 > 0:13:16It's the highest village in Dartmoor National Park,
0:13:16 > 0:13:20which might account for some slightly unseasonable weather.
0:13:20 > 0:13:24Well, it has literally just finished snowing, which might not be
0:13:24 > 0:13:27that surprising, apart from the fact it is the end of April.
0:13:27 > 0:13:31However, we are on Dartmoor, and absolutely beautiful it is, too.
0:13:31 > 0:13:38Here to see a three-bed detached house. Guide price, 140-160,000.
0:13:38 > 0:13:42Now, this house is in a designated area of outstanding beauty.
0:13:42 > 0:13:44However, there is one thing on the landscape
0:13:44 > 0:13:46that not everyone will appreciate.
0:13:46 > 0:13:50Dartmoor Prison, which is visible from the back of the property.
0:13:53 > 0:13:54So, what have we got?
0:13:54 > 0:13:58It has a feel of straightaway of a classic Dartmoor cottage.
0:13:58 > 0:14:00I mean, look at that fireplace in there.
0:14:00 > 0:14:03Absolutely magnificent, but straightaway,
0:14:03 > 0:14:04you get the impression,
0:14:04 > 0:14:07as with those stairs and everything you're looking at,
0:14:07 > 0:14:10it hasn't had much tender loving care for quite a while.
0:14:10 > 0:14:14So, let's focus a little bit more on the fabric of the building.
0:14:14 > 0:14:16And what we've actually got in terms of space.
0:14:16 > 0:14:18Well, there's one room over the side,
0:14:18 > 0:14:21another room over this side which is currently laid out as the kitchen.
0:14:21 > 0:14:25There are some utterly charming features that you would want...
0:14:26 > 0:14:27Want to keep.
0:14:27 > 0:14:30You know what, that's like a mini Stonehenge, isn't it?
0:14:30 > 0:14:32How heavy would that piece of granite on the top there
0:14:32 > 0:14:36have been when they were installing it? But it's absolutely majestic.
0:14:36 > 0:14:40Obviously, if you could get that range cooker sorted out,
0:14:40 > 0:14:42it would be an absolutely amazing feature.
0:14:42 > 0:14:46And then, through that to the rear of the property where you've got...
0:14:47 > 0:14:50Well, a sort of single-storey extension thing with
0:14:50 > 0:14:52a vaulted ceiling in certain parts.
0:14:52 > 0:14:56So, that has scope for expansion into.
0:14:56 > 0:14:59And all in all, it's just one of those ones where you have to
0:14:59 > 0:15:03move in here for a little bit and just hmm, mull it over.
0:15:03 > 0:15:06Though a decent footprint, it's not really using the space well.
0:15:06 > 0:15:09It's so ramshackle and higgledy-piggledy.
0:15:09 > 0:15:13But changing things around might be a Herculean task,
0:15:13 > 0:15:16judging by the thickness of the walls.
0:15:16 > 0:15:20- # What am I gonna do? - # What am I gonna do with you?
0:15:20 > 0:15:25- # What am I gonna do? - # What am I gonna do with you? #
0:15:25 > 0:15:29Well, upstairs, well, up some very rickety stairs, actually.
0:15:29 > 0:15:34To the first floor, and again, a bit of a rejiggling required.
0:15:34 > 0:15:37But you've got this room here which is above that bit
0:15:37 > 0:15:40which has got mostly vaulting, and it's just doesn't,
0:15:40 > 0:15:43where you've got this ridge you have to cross over to get to.
0:15:43 > 0:15:45And like the rest of the place,
0:15:45 > 0:15:47it's in a terrible state in terms of damp.
0:15:47 > 0:15:50Obviously, you're going to have to do some major refurbishment
0:15:50 > 0:15:51in terms of the roof, perhaps,
0:15:51 > 0:15:53and stuff like that to get rid of all that.
0:15:53 > 0:15:56But just in terms of the layout, it's not working for me.
0:15:56 > 0:15:59This staircase is too narrow, too rickety.
0:15:59 > 0:16:01You've then got your three bedrooms.
0:16:01 > 0:16:03That's a good-sized one there,
0:16:03 > 0:16:07smaller one there and another one just there, which is not bad.
0:16:07 > 0:16:10Bathroom's a nice size, which is a bit of a bonus.
0:16:10 > 0:16:13But all in all, again, piece of paper...
0:16:14 > 0:16:17..come up with some plan that's better than this.
0:16:19 > 0:16:22The stairwell and the stairs seem to me
0:16:22 > 0:16:24to be the starting point for any redesign.
0:16:24 > 0:16:27And perhaps, if they came more centrally,
0:16:27 > 0:16:30the three bedrooms and the bathroom would flow better off it.
0:16:30 > 0:16:33And I can't help but feeling
0:16:33 > 0:16:36that covered space could be utilised better.
0:16:36 > 0:16:40Perhaps a breath of fresh Devon air will clear my thoughts?
0:16:41 > 0:16:43Well, at the back of the property,
0:16:43 > 0:16:47a really impressive view across Dartmoor and across to the prison.
0:16:47 > 0:16:51But you've also got a really nice sized garden.
0:16:51 > 0:16:54It comes all the way down there, there's a little pond.
0:16:54 > 0:16:57And you might think this is the end of it, but no.
0:16:57 > 0:17:01Swizzle round a bit and it continues all the way down to the bottom.
0:17:01 > 0:17:05And one slightly unusual thing you get as well is that,
0:17:05 > 0:17:06which is a well.
0:17:07 > 0:17:09Well, well!
0:17:10 > 0:17:14And along with the fantastic garden, there is a useful outhouse,
0:17:14 > 0:17:17which perhaps could be combined into the living space.
0:17:17 > 0:17:21And surprisingly, the property isn't listed or in a conservation area.
0:17:21 > 0:17:24So, an extension could be possible.
0:17:24 > 0:17:26Subject to planning, of course.
0:17:26 > 0:17:29What does a property expert from the auctioneers that sold it
0:17:29 > 0:17:31think about the house?
0:17:31 > 0:17:34Could it be transformed into a nice little nest egg?
0:17:34 > 0:17:37The property benefits from a huge rear garden, so naturally,
0:17:37 > 0:17:40some people may see there's graphic scope to extend out the back,
0:17:40 > 0:17:42whether it be single-storey or two-storey.
0:17:42 > 0:17:43I think if you were going to extend,
0:17:43 > 0:17:46probably a single-storey would be more beneficial to create
0:17:46 > 0:17:50a large kitchen breakfast room that sort of splays out onto the garden
0:17:50 > 0:17:53because a two-storey extension, in my eyes, would be overkill
0:17:53 > 0:17:56for the area and the ceiling limit of the price values.
0:17:56 > 0:17:59Yes, overdevelopment is a consideration in this area.
0:17:59 > 0:18:03Its location and proximity to the prison will not be for everyone.
0:18:03 > 0:18:05So, what is the ceiling level
0:18:05 > 0:18:10for a property that was guided at 140-160,000?
0:18:10 > 0:18:12Keeping the format and structure of the building the same,
0:18:12 > 0:18:15just refurbishing it, you could probably expect to achieve
0:18:15 > 0:18:18somewhere in the region of £250,000, once done.
0:18:18 > 0:18:21If you extended the property on a single-storey basis at the rear,
0:18:21 > 0:18:26you could probably expect to achieve somewhere in the region of £275,000.
0:18:26 > 0:18:27A single-storey extension
0:18:27 > 0:18:29on a building of this sort of square footage,
0:18:29 > 0:18:32you could be somewhere in the region of about £40-45,000.
0:18:33 > 0:18:35And its rental value?
0:18:35 > 0:18:38You could put the property on the rental market for somewhere
0:18:38 > 0:18:40in the region of £700-725 per calendar month.
0:18:44 > 0:18:47Well, it's a house that obviously needs a lot of work,
0:18:47 > 0:18:51but that is what a lot of auction buyers look for -
0:18:51 > 0:18:53a property they can put their stamp on.
0:18:53 > 0:18:54So, I'm sure it was very popular!
0:18:54 > 0:18:57Let's find out what happened when it went under the hammer.
0:19:02 > 0:19:04Lot 128, residentially,
0:19:04 > 0:19:06is an absolute diamond.
0:19:06 > 0:19:10So, it's a properly handsome, detached three-bed cottage
0:19:10 > 0:19:11for refurbishment.
0:19:11 > 0:19:15Big garden, off-street parking. Dartmoor on your doorstep.
0:19:15 > 0:19:17What do you want me to ask? 120?
0:19:17 > 0:19:20At 120. 120 I've got, at 120.
0:19:20 > 0:19:22At 120, at 120...
0:19:22 > 0:19:25If you are happy for that lady to have that for 120,
0:19:25 > 0:19:27I'm going to sense she'd be smiling.
0:19:27 > 0:19:30Yes, she would be, at 120.
0:19:30 > 0:19:33Anybody want to wipe the smile off that lady's face?
0:19:33 > 0:19:34At 120.
0:19:34 > 0:19:37Oh, you will, sir? Sorry, 122.
0:19:37 > 0:19:41122, 124, 124, 126? 126.
0:19:41 > 0:19:45Corking house. Sorry, I've got to do this, madam, forgive me.
0:19:45 > 0:19:48126. At 126.
0:19:48 > 0:19:50At 126...
0:19:50 > 0:19:54First time, at 126. Second time...
0:19:54 > 0:19:57At 126, you sure and done?
0:19:57 > 0:20:00We know where it's going. At 126.
0:20:00 > 0:20:02And third row back.
0:20:02 > 0:20:03126. Well done, you.
0:20:03 > 0:20:08The hammer fell for £34,000 less than the top-end guide price.
0:20:08 > 0:20:11And for 126,000.
0:20:11 > 0:20:15The smiling successful bidder was Jacqui and her husband Bob.
0:20:15 > 0:20:19And all wrapped up from the unseasonably cold weather,
0:20:19 > 0:20:21they joined me back at the house.
0:20:25 > 0:20:27- Jacqui, Bob, good to meet you both! - Hi, there.
0:20:27 > 0:20:31- Now, you paid quite a lot less than the guide price, didn't you?- We did.
0:20:31 > 0:20:32What did you put that down to?
0:20:32 > 0:20:35Just the fact that people were put off by the state or what?
0:20:35 > 0:20:37Didn't really understand it.
0:20:37 > 0:20:38I mean, it is quite remote up here,
0:20:38 > 0:20:40I think you do either love it or hate it, maybe.
0:20:40 > 0:20:45- And also at the back, we're looking over Dartmoor Prison.- We are.
0:20:45 > 0:20:47Was that an issue for you?
0:20:47 > 0:20:49While we drove into the town, I got told to get out of the car
0:20:49 > 0:20:51and take a picture of that old mill.
0:20:53 > 0:20:56Well, it does look like an old mill, actually!
0:20:56 > 0:20:58Tell me why you wanted to buy this place, then.
0:20:59 > 0:21:02Well, we basically wanted another renovation project.
0:21:02 > 0:21:04We just finished one in Devon.
0:21:04 > 0:21:06And we were just looking for another one,
0:21:06 > 0:21:08so we popped our heads into the auction and we secured this place.
0:21:08 > 0:21:11- Is this something you've done a lot of?- We've done a few.
0:21:11 > 0:21:14- We've built our own house at one point.- Oh, wow.
0:21:14 > 0:21:16Which we've just sold, actually, to move on.
0:21:16 > 0:21:21Erm, we did a house up last year down in Dawlish.
0:21:21 > 0:21:23And we've now moved onto this one.
0:21:23 > 0:21:25So, you've both got building experience?
0:21:25 > 0:21:28Erm, well, I used to work for a large retailer
0:21:28 > 0:21:30as a project manager, doing supermarkets.
0:21:30 > 0:21:33- Right.- On the construction side.
0:21:33 > 0:21:39We had our own company doing refurbishing works.
0:21:39 > 0:21:42- And we've now moved on to doing houses.- Doing this kind of stuff?
0:21:42 > 0:21:45Rather than employing people in the company,
0:21:45 > 0:21:47- we now just employ subcontractors. - And what about you, Jacqui?
0:21:47 > 0:21:49What is your experience?
0:21:49 > 0:21:53Well, we've had, I've had 25 years in construction as well.
0:21:53 > 0:21:57Worked for the same company as Bob did and then we set up on our own
0:21:57 > 0:21:58when Bob left that company.
0:21:58 > 0:22:01And managed a company, carrying on doing the same thing
0:22:01 > 0:22:03but actually on a self-employed basis.
0:22:03 > 0:22:05Oh, great, fantastic.
0:22:05 > 0:22:07Well, there's no doubting Jacqui and Bob's credentials
0:22:07 > 0:22:09for taking on a house like this.
0:22:09 > 0:22:13It certainly seems it couldn't be in better hands!
0:22:13 > 0:22:16So, tell me what you're going to do to it, then.
0:22:16 > 0:22:18Well, right, erm...
0:22:18 > 0:22:22- Basically change everything. - Oh, OK.- Yeah.
0:22:22 > 0:22:24The rooms out the back at the moment,
0:22:24 > 0:22:26we intend to knock them through, vault the ceiling up,
0:22:26 > 0:22:29- make it as a kitchen diner. - Oh, right.
0:22:29 > 0:22:32The staircase we're going to take out, put a different type of
0:22:32 > 0:22:35staircase in, which will allow us to reconfigure upstairs.
0:22:35 > 0:22:38- And reconfigure down here.- What it will be when you've finished, then?
0:22:38 > 0:22:39How many bedrooms?
0:22:39 > 0:22:42It will stay as a three-bedroom house and the main bedroom
0:22:42 > 0:22:45- will have an en-suite.- OK. - With a family bathroom.
0:22:45 > 0:22:48- So, what's the budget for all your planning, then?- If...
0:22:48 > 0:22:52Really, if we go over 40,000, we'll be really upset.
0:22:52 > 0:22:56So, I think 35-40 because we'll be doing quite a lot of it ourselves.
0:22:56 > 0:22:58Along with the £35-40,000 budget,
0:22:58 > 0:23:01they hope to complete the work in four months
0:23:01 > 0:23:03and then plan to sell it on.
0:23:03 > 0:23:06And the project is to be a family affair.
0:23:07 > 0:23:11- Our children will all be involved in this.- Will they? What do they do?
0:23:11 > 0:23:16Well, there's... We've got five and they're 31 down to 10.
0:23:16 > 0:23:19And the older two, one's a management accountant,
0:23:19 > 0:23:21my son does design.
0:23:21 > 0:23:23The three girls are still at school.
0:23:23 > 0:23:26Our 17-year-old, she's a bit of a tradesman, a bit of a carpenter.
0:23:26 > 0:23:29- She's studying engineering, she helps her dad a lot.- Oh, great.
0:23:29 > 0:23:31The next one down's a painter and decorator
0:23:31 > 0:23:33and the youngest sweeps up and makes the tea. So...
0:23:33 > 0:23:35- You've planned that well. - Bit of a...
0:23:35 > 0:23:38He's a technical guy and I'm the project manager and the donkey.
0:23:38 > 0:23:39Basically.
0:23:39 > 0:23:41Apart from the family team, then,
0:23:41 > 0:23:43are you going to get builders in to do stuff?
0:23:43 > 0:23:46Yeah, we want to put a new roof on.
0:23:46 > 0:23:51So, scaffolding is going up, starting this week, basically.
0:23:51 > 0:23:53- Well, listen, congratulations to you both.- Thank you.
0:23:53 > 0:23:56Could be a real fascinating reveal when we come back.
0:23:56 > 0:23:59- I look forward to see how you get on.- Thank you very much.
0:24:01 > 0:24:05Well, Jacqui and Bob like a property challenge,
0:24:05 > 0:24:08which is just as well, because they've certainly got one here.
0:24:08 > 0:24:11However, they paid a good price for it at the auction.
0:24:11 > 0:24:16So, I think there is money to be made and I like their ideas.
0:24:16 > 0:24:19You can find out how they transform this place later in the show.
0:24:21 > 0:24:23- DION:- Still to come in Stoke-on-Trent,
0:24:23 > 0:24:26I've spotted my pet peeve.
0:24:26 > 0:24:28I'm not a fan of downstairs bathrooms,
0:24:28 > 0:24:31but a bathroom off the kitchen is not for me.
0:24:33 > 0:24:35MARTIN: While in Princetown, Devon,
0:24:35 > 0:24:37Jacqui and Bob may have done too good a job.
0:24:37 > 0:24:40If I had my way, we wouldn't be selling this place!
0:24:46 > 0:24:51Back to Biggin Hill in Kent where Lucy saw a two-bedroom bungalow.
0:24:51 > 0:24:56The guide price of £220,000 plus was attractive. The house...
0:24:56 > 0:24:58..sadly wasn't.
0:24:58 > 0:25:02Well, this house is looking really sorry for itself on the outside.
0:25:02 > 0:25:05Huh! And really sorry for itself on the inside.
0:25:07 > 0:25:10Yes, not only was it difficult to spot
0:25:10 > 0:25:11because of the surrounding trees.
0:25:11 > 0:25:16Inside, it was tired and forgotten and in need of a total face-lift.
0:25:18 > 0:25:21However, thanks to great room proportions and not to mention,
0:25:21 > 0:25:26a huge back garden, Lucy could see the wood for the trees.
0:25:26 > 0:25:28Or should I say, house for the trees?
0:25:29 > 0:25:33There's one word ringing in my head right now - potential.
0:25:33 > 0:25:34# You got potential!
0:25:37 > 0:25:41# In my life, yeah! #
0:25:41 > 0:25:43And the bidders agreed on auction day,
0:25:43 > 0:25:48with the property being snapped up for 273,000
0:25:48 > 0:25:50by a rather delighted Claire.
0:25:50 > 0:25:53Sold, 273. You got there, well done.
0:25:57 > 0:25:58Along with her husband, Chris,
0:25:58 > 0:26:03not to mention their two kids - Jack aged six, and Eva aged nine,
0:26:03 > 0:26:07Claire couldn't wait to move into what would be their family home.
0:26:07 > 0:26:08But she wasn't always as keen.
0:26:11 > 0:26:14- Well, you texted me a picture of it.- And how did you react?
0:26:14 > 0:26:16Erm, I said a bad word.
0:26:16 > 0:26:19- Did it look awful?- Two bad words. - Did it look awful from the text?
0:26:19 > 0:26:21Yeah, it looked awful, and I said no way.
0:26:21 > 0:26:23And then we went and saw it a few days later
0:26:23 > 0:26:26- and he managed to make me calm down. - And it was still awful, wasn't it?
0:26:26 > 0:26:27It was still awful.
0:26:27 > 0:26:30Claire, however, was persuaded by the bungalow's practicality.
0:26:30 > 0:26:34She has mobility issues due to multiple sclerosis, so a bungalow
0:26:34 > 0:26:38promises to make life easier after the hard bit, renovating it.
0:26:40 > 0:26:42So, now you have actually bought it and for the price you paid,
0:26:42 > 0:26:45- Claire, how do you feel now? - Ecstatic.- Are you really pleased?
0:26:45 > 0:26:47Yeah, really, really pleased. I can't believe it.
0:26:47 > 0:26:49We've wanted it for so long.
0:26:49 > 0:26:51Because obviously, I can't do my stairs at home any more
0:26:51 > 0:26:54and things like that, it's going to make life so much easier.
0:26:54 > 0:26:56They plan to do the work in stages.
0:26:56 > 0:27:00Phase 1 was to make the place habitable with £20,000,
0:27:00 > 0:27:03and they hope to get it done in four months.
0:27:04 > 0:27:07Just over 20 months later and we're back,
0:27:07 > 0:27:10to see what progress they've made with their new family home.
0:27:18 > 0:27:20Wow!
0:27:20 > 0:27:22Thanks to an extension on the back of the property,
0:27:22 > 0:27:26they have created a stunning living-dining area.
0:27:26 > 0:27:28Plus, it's meant they've been able to extend
0:27:28 > 0:27:30this fully refurbished kitchen.
0:27:34 > 0:27:39And what was once a two-bed bungalow now boasts three beds,
0:27:39 > 0:27:42with a bedroom for little Jack created out of the old living room.
0:27:42 > 0:27:43Marvellous!
0:27:45 > 0:27:49At the front of the property, the two bedrooms have been transformed.
0:27:49 > 0:27:52Plus, they've pinched some space from the garage to create
0:27:52 > 0:27:56an en-suite bathroom utility room for the stunning master bedroom.
0:28:01 > 0:28:05And an extended hallway gives the property a natural flow.
0:28:08 > 0:28:11The exterior of the property isn't too shabby either.
0:28:15 > 0:28:18The back garden is a work in progress at the moment
0:28:18 > 0:28:22but the decking to the rear really brings out that fantastic extension.
0:28:25 > 0:28:29The front is unrecognisable from how it was.
0:28:29 > 0:28:33Taking down those trees has opened it up and brightened it also.
0:28:34 > 0:28:39Claire and Chris have created a wonderful new home with Phase 1
0:28:39 > 0:28:42and that £20,000 budget a distant memory.
0:28:42 > 0:28:44It was a case of ripping everything back.
0:28:44 > 0:28:47The ceilings came down.
0:28:47 > 0:28:48All the plumbing came out,
0:28:48 > 0:28:52all the electrics came out and it was all rewired, replumbed.
0:28:52 > 0:28:55- And it was just getting it into a state we could live in.- Yeah.
0:28:55 > 0:28:57Until we...
0:28:57 > 0:29:00So, we had somewhere to go after we sold our property.
0:29:00 > 0:29:04So, Phase 2 was the extension of the property and we got a builder in
0:29:04 > 0:29:08to do that because we couldn't do that ourselves, unfortunately.
0:29:08 > 0:29:10We had problems with planning permission.
0:29:10 > 0:29:13We got turned down for our first one and we had to resubmit,
0:29:13 > 0:29:16so it kind of delayed things for a while.
0:29:16 > 0:29:18Yeah, because we asked for it to be too big.
0:29:18 > 0:29:20So, in the end, we took a little bit off of the bedroom
0:29:20 > 0:29:23and made the lounge the same size we wanted it.
0:29:23 > 0:29:25But instead of going out into the garden,
0:29:25 > 0:29:28we took a little bit off of Jack's room. And then...
0:29:28 > 0:29:31Yeah, we're happy with it. I just feel so at home here now.
0:29:31 > 0:29:34Like, not having any stairs obviously has really helped me.
0:29:34 > 0:29:37I can do so much more. I'm not as tired.
0:29:37 > 0:29:39I love having this all on one level as well,
0:29:39 > 0:29:42which is really nice, all the time.
0:29:42 > 0:29:44But, yeah, it's just an easier nicer life,
0:29:44 > 0:29:46I feel a lot more at home here, which is good.
0:29:46 > 0:29:47Excellent.
0:29:47 > 0:29:49Well, that was the original mission,
0:29:49 > 0:29:53to make things easier for Claire and create a lovely family home.
0:29:54 > 0:29:56However, all this work doesn't come cheaply,
0:29:56 > 0:29:59with a budget coming in at £80,000.
0:29:59 > 0:30:02And the timescale also had to change a bit.
0:30:03 > 0:30:06So, the timescale was initially three months
0:30:06 > 0:30:09to get the original building refurbished
0:30:09 > 0:30:12and in a suitable condition to live in.
0:30:12 > 0:30:16- And after that, I was exhausted.- Yes!
0:30:16 > 0:30:18So, we thought we'd take some time out, so we took a year out,
0:30:18 > 0:30:21lived in it as it was and then we started the building work,
0:30:21 > 0:30:24yeah, after 12 months rest, we started.
0:30:24 > 0:30:26I think that took about four months.
0:30:26 > 0:30:29Yeah, so it's been about 18 months in all, from getting it in to now.
0:30:30 > 0:30:33This is of course Claire and Chris's family home
0:30:33 > 0:30:35and they have no intentions of selling.
0:30:35 > 0:30:38But with an investment of around 353,000,
0:30:38 > 0:30:42it will be interesting to hear the thoughts and the valuations
0:30:42 > 0:30:44from two local estate agents.
0:30:47 > 0:30:48I think the property is lovely.
0:30:48 > 0:30:51It's very light and airy and it's been renovated
0:30:51 > 0:30:53to a really good standard.
0:30:53 > 0:30:56I think the layout of the property is absolutely perfect.
0:30:56 > 0:30:59It flows brilliantly and the rooms are very spacious.
0:30:59 > 0:31:02So, I think the extension has been done really nicely.
0:31:02 > 0:31:05It's opened the property up nicely at the back with great views
0:31:05 > 0:31:07over the rear garden.
0:31:07 > 0:31:11So, we're agreed it's a great family house and it's not for sale.
0:31:11 > 0:31:12But just for nosiness,
0:31:12 > 0:31:17what return could they get on their £353,000 investment?
0:31:17 > 0:31:23I think this property could re-sale for £450,000-£475,000.
0:31:23 > 0:31:26I think this property could re-sale for somewhere around
0:31:26 > 0:31:29the £475,000-£500,000 mark.
0:31:29 > 0:31:30Wow!
0:31:30 > 0:31:37That top figure of 500,000 could mean a potential profit of 147,000,
0:31:37 > 0:31:38minus taxes and fees.
0:31:38 > 0:31:42What do Claire and Chris make of that?
0:31:42 > 0:31:45- Oh, really pleased with that, yeah. - That's a lot higher than we thought.
0:31:45 > 0:31:48Yeah, we didn't think it would be that at all. So, that's great.
0:31:48 > 0:31:50- Brilliant.- Yeah, brilliant.
0:31:50 > 0:31:55So, Chris and Claire are delighted. They've certainly come a long way.
0:31:55 > 0:31:57Never in a million years did I think I'd like this property
0:31:57 > 0:31:58as much as I do now.
0:31:58 > 0:32:02Looking back to the picture that you sent me of it, and I was like,
0:32:02 > 0:32:03"Absolutely no way.
0:32:03 > 0:32:06"There's no way on earth that I could ever imagine living here."
0:32:06 > 0:32:09I can't believe it's the same house, but no,
0:32:09 > 0:32:11I'm just so pleased we did it.
0:32:11 > 0:32:14- It's the best thing we've done I think, isn't it?- Yeah.- Yeah.
0:32:23 > 0:32:26DION: Polycentric isn't a term I've used too often.
0:32:26 > 0:32:30But Stoke-on-Trent in Staffordshire is an area that the term
0:32:30 > 0:32:34polycentric can be applied to, meaning it's got many centres.
0:32:35 > 0:32:38Consisting of six towns and multiple suburbs,
0:32:38 > 0:32:42today I'm in one of the northern suburbs, Sandyford.
0:32:44 > 0:32:47# I'm waiting
0:32:47 > 0:32:48# At the end of the road. #
0:32:50 > 0:32:54Property I'm here to see is in this very pretty cul-de-sac.
0:32:54 > 0:32:56Normally, you've got the odd car,
0:32:56 > 0:32:59which is parked in the cul-de-sac, makes it hard to park.
0:32:59 > 0:33:03But every single house, bar one, has its own parking space.
0:33:03 > 0:33:05And our house is no exception.
0:33:05 > 0:33:08It's got a guide price of £55,000,
0:33:08 > 0:33:12plus it's an end terrace and it's got three bedrooms.
0:33:12 > 0:33:13Let's have a look, shall we?
0:33:18 > 0:33:22OK, we are...straight in the door, you've got a bit of a porchway
0:33:22 > 0:33:24and the stairs are right in front of you.
0:33:24 > 0:33:27And then you're into the first reception room.
0:33:27 > 0:33:29Nice high ceiling, which I've noticed.
0:33:29 > 0:33:32You've got a fireplace, quite dated fireplace.
0:33:32 > 0:33:34I'd want to get rid of that.
0:33:34 > 0:33:37Saying that, I can't see any central heating anywhere.
0:33:37 > 0:33:40Lovely big window as well.
0:33:40 > 0:33:42Looks like there's been a bit of damp there
0:33:42 > 0:33:43but it doesn't feel damp at all.
0:33:43 > 0:33:47Not a bad-sized room to start off with. What have we got in here?
0:33:47 > 0:33:50We've got a little bit of storage under the stairs.
0:33:50 > 0:33:54And then into a very blue kitchen.
0:33:54 > 0:33:57But it's very, very small.
0:33:57 > 0:34:01And round the corner, you've got a very pink downstairs bathroom.
0:34:01 > 0:34:05Now, I'm not a fan of downstairs bathrooms anyway.
0:34:05 > 0:34:08But a bathroom off the kitchen is not for me.
0:34:08 > 0:34:11So, depending on what I'm going to find upstairs...
0:34:12 > 0:34:14..that's got to go.
0:34:14 > 0:34:16Big kitchen diner for me.
0:34:16 > 0:34:19That's the way I would change things around.
0:34:19 > 0:34:24# Oh, that's the way, uh-huh, uh-huh I like it, uh-huh, uh-huh... #
0:34:24 > 0:34:27Kitchens and bathrooms sell properties these days
0:34:27 > 0:34:29and neither of these cut the mustard.
0:34:29 > 0:34:32But it might be worth bearing in mind that a downstairs bathroom
0:34:32 > 0:34:36could come in handy for visitors who maybe can't use the stairs.
0:34:36 > 0:34:39Most modern buildings have to have them.
0:34:39 > 0:34:42Anyway, the 64,000 question will be
0:34:42 > 0:34:45is there room upstairs for a bathroom?
0:34:45 > 0:34:52So, up here, we've got one, two, three bedrooms, no bathroom.
0:34:52 > 0:34:54We've got a double bedroom there, double bedroom there,
0:34:54 > 0:34:57and a smaller single bedroom just behind me
0:34:57 > 0:34:59in a lovely shade of yellow.
0:34:59 > 0:35:03So, what I was saying downstairs, get that bathroom up here.
0:35:03 > 0:35:07And I would use this small bedroom here to create
0:35:07 > 0:35:08a family bathroom up here.
0:35:08 > 0:35:12Then you can do what you want to do with the kitchen downstairs.
0:35:12 > 0:35:15This first bedroom is a decent size.
0:35:15 > 0:35:20Now, people at auction, they buy to rent out, they buy to sell.
0:35:20 > 0:35:22Some people buy to live in as well.
0:35:22 > 0:35:25If this is the case, with this property,
0:35:25 > 0:35:29I would consider popping the toilet and the sink in here.
0:35:29 > 0:35:31Make this the master.
0:35:31 > 0:35:34Got your toilet there, you haven't got to travel to the family bathroom
0:35:34 > 0:35:35in the middle of the night.
0:35:35 > 0:35:37And...job's a good 'un.
0:35:39 > 0:35:42Well, that's the upstairs sorted, what about the outside?
0:35:43 > 0:35:47So, out in the back garden, there's more here than I was expecting.
0:35:47 > 0:35:50Yeah, it's a little bit overgrown and it's a bit of a
0:35:50 > 0:35:51wraparound garden as well.
0:35:51 > 0:35:54It just goes around the side of the house. So...
0:35:54 > 0:35:57Lots of space to put a dining table and all that kind of stuff.
0:35:57 > 0:36:00But what I've seen is another toilet.
0:36:00 > 0:36:02It's just an outside toilet, unfortunately.
0:36:02 > 0:36:06But what you could do is get rid of that, knock that wall down,
0:36:06 > 0:36:08create some more inside space for the kitchen.
0:36:08 > 0:36:10That's definitely the way I would go.
0:36:10 > 0:36:14So, shuffle a few things around, knock some walls down and...
0:36:14 > 0:36:18# That's the way, uh-huh, uh-huh, I like it, uh-huh, uh-huh
0:36:18 > 0:36:21# That's the way, uh-huh, uh-huh, I like it... #
0:36:23 > 0:36:27But what does a property expert from the auction house who sold it think?
0:36:27 > 0:36:29Are we on the same page?
0:36:32 > 0:36:35First impressions of the property is that
0:36:35 > 0:36:39it's mainly cosmetic improvements. There's nothing major.
0:36:39 > 0:36:42I think the biggest job would be possibly looking to put the bathroom
0:36:42 > 0:36:46on the first floor and make the kitchen a larger area downstairs.
0:36:46 > 0:36:51Yes, great minds do think alike. It might make the house work better.
0:36:51 > 0:36:55But losing a bedroom for a bathroom, how much might that affect
0:36:55 > 0:36:59the value of the property that was guided at 55 grand plus?
0:36:59 > 0:37:03I think as a two-bedroom property with a first-floor bathroom,
0:37:03 > 0:37:08I would anticipate a resale value in the region of £90,000.
0:37:08 > 0:37:10If it was retained as a three-bedroom
0:37:10 > 0:37:12with a bathroom downstairs,
0:37:12 > 0:37:16I would also imagine that the value would be similar at £90,000,
0:37:16 > 0:37:19but certainly more saleable with a first-floor bathroom.
0:37:19 > 0:37:21And what about rental?
0:37:22 > 0:37:25I would anticipate a rental income for even a two-bed
0:37:25 > 0:37:27or a three-bedroom property
0:37:27 > 0:37:30in the region of £450-500 per calendar month.
0:37:35 > 0:37:38I think this is a very pretty house in a nice location.
0:37:38 > 0:37:40One thing I'd definitely want to change, though.
0:37:40 > 0:37:44Get that bathroom upstairs and then use that space that's left
0:37:44 > 0:37:45to create a bigger kitchen.
0:37:45 > 0:37:48Let's see who wanted to take this end terrace on
0:37:48 > 0:37:49when it went under the hammer.
0:37:54 > 0:37:58Lot 24 is three-bedroom end townhouse. Popular spot.
0:37:58 > 0:38:02Does need modernising. 50 to start me here?
0:38:02 > 0:38:0750 on the front row, thank you. At 50,000, looking for 52 now. 52.
0:38:08 > 0:38:1054, sir? 54.
0:38:10 > 0:38:1356. 56...
0:38:13 > 0:38:16Well, there seemed to be plenty of interest in the Stoke house.
0:38:16 > 0:38:19We rejoin the bidding at £60,000.
0:38:19 > 0:38:2260, 61. 61.
0:38:23 > 0:38:2662, madam? A half, 61.5.
0:38:26 > 0:38:2962. Another half?
0:38:29 > 0:38:33Yeah, 62.5. 63. Another half?
0:38:33 > 0:38:3563.5. 64.
0:38:35 > 0:38:37Another half?
0:38:37 > 0:38:39Yeah, 64.5, 65.
0:38:40 > 0:38:42Another half? 65.5.
0:38:42 > 0:38:47No. 65.5, still with you, madam, at £65,500.
0:38:47 > 0:38:4866 anywhere else?
0:38:48 > 0:38:53If not, 65,500 once, 65,500 twice,
0:38:53 > 0:38:57third and final time, £65,500...
0:38:58 > 0:39:00You bought it, madam. Well done.
0:39:00 > 0:39:02So, for 65.5 grand,
0:39:02 > 0:39:05the hammer fell on the three-bed semi in Staffordshire.
0:39:05 > 0:39:10And the successful bidder was Alison, and I've met Alison before,
0:39:10 > 0:39:14when back in 2015, she bought another property in Stoke-on-Trent.
0:39:15 > 0:39:19Along with her partner, Steve, she completely transformed it.
0:39:20 > 0:39:22# Hello again!
0:39:24 > 0:39:26# Hello again... #
0:39:28 > 0:39:31I met her back at her latest purchase to find out what magic
0:39:31 > 0:39:34she had planned for this new place.
0:39:34 > 0:39:36- Alison, it's nice to see you again. - And you too.- Good to see you.
0:39:36 > 0:39:39Congratulations. How did the first project go?
0:39:39 > 0:39:40It went really well,
0:39:40 > 0:39:43we sold the property within one month of it being on the market.
0:39:43 > 0:39:46- So, we did fine, we got what we wanted.- Really?
0:39:46 > 0:39:47Yeah, so we're very happy about that.
0:39:47 > 0:39:50- And you didn't view that first property, did you?- No.
0:39:50 > 0:39:53- Did you view this one?- No.
0:39:53 > 0:39:56I did send Steve to look through the window.
0:39:56 > 0:40:00Well, not send him, but he came and had a look through the windows.
0:40:00 > 0:40:01But no, I didn't view it.
0:40:01 > 0:40:03It was a last-minute decision.
0:40:03 > 0:40:05Alison, Alison.
0:40:05 > 0:40:10Viewing properties is Hammer's number-one golden rule.
0:40:10 > 0:40:12She did at least read the legal pack, though.
0:40:12 > 0:40:15And Steve did see this one.
0:40:15 > 0:40:18But one of these days, Alison. One of these days.
0:40:18 > 0:40:20# Things go wrong
0:40:22 > 0:40:24# Things go wrong... #
0:40:25 > 0:40:28What are you going to do to it now it's yours, what's your plans?
0:40:28 > 0:40:31Erm, hopefully, we're going to knock this wall through
0:40:31 > 0:40:33from the kitchen into the bathroom.
0:40:34 > 0:40:37Perhaps make a toilet off the kitchen,
0:40:37 > 0:40:38because there is an out...
0:40:38 > 0:40:41Yeah, the outside toilet's just through that wall there.
0:40:41 > 0:40:44In here, you're looking to create a sort of kitchen...
0:40:44 > 0:40:46- Kitchen diner, yes. - Kitchen diner area.
0:40:46 > 0:40:47From the last property,
0:40:47 > 0:40:50we learned that a lot of people who came to view it,
0:40:50 > 0:40:53although they liked two bedrooms, they also liked a kitchen diner.
0:40:53 > 0:40:55So, that's what we hope to do with this.
0:40:55 > 0:40:58Are you finding that's the first thing you look to do?
0:40:58 > 0:41:02Erm, yeah, it is, really. Yes, the kitchen and the bathroom.
0:41:02 > 0:41:05As long as you can do the kitchen and the bathroom and give it
0:41:05 > 0:41:08that bit of wow, then I think you can't go wrong.
0:41:08 > 0:41:10And what else are you doing?
0:41:10 > 0:41:13Move the bathroom, obviously, upstairs.
0:41:13 > 0:41:14Whereabouts are you putting it?
0:41:14 > 0:41:18Into the little bedroom upstairs at the back, the small bedroom.
0:41:18 > 0:41:21I think that will give us enough space to put
0:41:21 > 0:41:23quite a nice suite in there, maybe a stand-alone shower.
0:41:23 > 0:41:25We'll see what space there is.
0:41:25 > 0:41:27And that won't affect your plans for this house,
0:41:27 > 0:41:29going from a three-bed to a two?
0:41:29 > 0:41:31No, I think, er, saleability wise,
0:41:31 > 0:41:33it will actually make it more attractive.
0:41:33 > 0:41:37The downstairs bathroom is just a slither of a room, really.
0:41:37 > 0:41:40There's nothing you can do to make that nice.
0:41:40 > 0:41:42So, I think that's the best thing to do.
0:41:42 > 0:41:44How much is that going to cost you? What is your budget?
0:41:44 > 0:41:48We've probably got between about 8-10,000.
0:41:48 > 0:41:53I have got a bit of contingency, but I think that should do it, yes.
0:41:53 > 0:41:55And who's going to do the work for you?
0:41:55 > 0:42:00Erm, my other half, Steve, is going to do a lot of the work! Hopefully.
0:42:00 > 0:42:03But I'll be knocking walls down.
0:42:03 > 0:42:06Erm, we will get somebody in to do the electrics.
0:42:06 > 0:42:09But the majority of the work we'll do ourselves between us.
0:42:09 > 0:42:13Is this full-time now, nearly full-time? What's your day job?
0:42:13 > 0:42:17It is full-time now, although not every day. But, er, yeah, full-time.
0:42:17 > 0:42:21I used to work in banking but now I've taken early retirement and...
0:42:21 > 0:42:25- Hold it, retirement?! - Yeah.- Steady on!- Early retirement.
0:42:25 > 0:42:26I should think so.
0:42:26 > 0:42:28And yes, I'm going to concentrate
0:42:28 > 0:42:31on doing things like this in the future.
0:42:31 > 0:42:33- Good luck, I wish you all the best.- Thank you.
0:42:33 > 0:42:36- Please view your next property. - I will do, I promise.
0:42:36 > 0:42:37- Alison, good luck.- Thank you!
0:42:39 > 0:42:42So, Alison is definitely pushing her luck.
0:42:42 > 0:42:45She didn't view the first property and she didn't view this one.
0:42:45 > 0:42:46But I think she's got away with it.
0:42:46 > 0:42:48It's a nice, quaint little house
0:42:48 > 0:42:50with a few things that need to be done.
0:42:50 > 0:42:53The bathroom needs to be taken from downstairs to upstairs
0:42:53 > 0:42:55and she's got to reconfigure
0:42:55 > 0:42:57that kitchen dining area she wants to sort.
0:42:57 > 0:42:58I think she'll be fine.
0:42:58 > 0:43:01You can find out how she does later in the programme.
0:43:04 > 0:43:06Well, earlier we saw how one of the properties turned out
0:43:06 > 0:43:08but what about the other two?
0:43:08 > 0:43:12Have they been pressing on with the work or has it ground to a halt?
0:43:12 > 0:43:14Yes, all sorts of problems can arise.
0:43:14 > 0:43:17What have our buyers had to cope with? Let's find out.
0:43:20 > 0:43:25Back to Devon now and the highest village in Dartmoor National Park.
0:43:25 > 0:43:26Princetown.
0:43:26 > 0:43:29Where we came across a traditional two-storey,
0:43:29 > 0:43:32three-bed old stone-built cottage.
0:43:32 > 0:43:36It certainly had character and interesting features.
0:43:36 > 0:43:40It has a feel straight away of a classic Dartmoor cottage.
0:43:40 > 0:43:43I mean, look at that fireplace in there. Absolutely magnificent.
0:43:43 > 0:43:46But straight away, you get the impression,
0:43:46 > 0:43:49with those stairs and everything you're looking at,
0:43:49 > 0:43:51it hasn't had much tender loving care for quite a while.
0:43:51 > 0:43:54So, all in all, it's just one of those ones...
0:43:54 > 0:43:56I think you'd have to move in here for a little bit
0:43:56 > 0:43:58and just, hmm, mull it over.
0:44:01 > 0:44:03With odd utility areas,
0:44:03 > 0:44:05outbuildings and a great-sized garden,
0:44:05 > 0:44:09higgledy-piggledy layout wasn't really doing the cottage justice.
0:44:09 > 0:44:11There was definitely scope for improvement.
0:44:13 > 0:44:16It was bought at auction for 126,000
0:44:16 > 0:44:18by property developers Jacqui and Bob,
0:44:18 > 0:44:20who had a different outlook on the...
0:44:21 > 0:44:23..outlook.
0:44:24 > 0:44:25While we drove into the town,
0:44:25 > 0:44:28I got told to get out of the car and take a picture of that old mill.
0:44:30 > 0:44:33Well, it does look like an old mill, actually.
0:44:33 > 0:44:35Tell me why you wanted to buy this place, then.
0:44:36 > 0:44:39Well, we basically wanted another renovation project.
0:44:39 > 0:44:41We just finished one in Devon.
0:44:41 > 0:44:43And we were just looking for another one,
0:44:43 > 0:44:46so we popped our heads into the auction and we secured this place.
0:44:46 > 0:44:49They thought the key to unlocking the cottage's potential
0:44:49 > 0:44:52was by spending £35,000-£40,000 on it.
0:44:52 > 0:44:54And they hope to have it ready to sell on
0:44:54 > 0:44:56after four months' hard labour.
0:44:58 > 0:45:00Now, seven months later, we're back.
0:45:05 > 0:45:10New front door, windows reroofed, the cottage is looking pretty fine.
0:45:10 > 0:45:11But what about inside?
0:45:14 > 0:45:17When you first came into the building, you were just faced
0:45:17 > 0:45:21with these stairs going upstairs and a very narrow entrance.
0:45:21 > 0:45:23So, what we've done is put a new staircase in,
0:45:23 > 0:45:27which has allowed us to open up that area and reconfigure the room,
0:45:27 > 0:45:29so you've got, instead of a kitchen,
0:45:29 > 0:45:32you're coming into a first reception room.
0:45:37 > 0:45:41We've now got a more isolated lounge.
0:45:43 > 0:45:47Rooms out the back which were an old utility room,
0:45:47 > 0:45:50and another room, provided a kitchen and utility room.
0:45:53 > 0:45:57Considering this was a hotchpotch of out rooms, this area is fantastic!
0:46:01 > 0:46:03There's even a downstairs cloakroom.
0:46:06 > 0:46:08And upstairs is no less impressive.
0:46:08 > 0:46:11First is a master bedroom ensuite.
0:46:12 > 0:46:15And two double rooms, which are not huge,
0:46:15 > 0:46:17but this is a cottage, after all.
0:46:17 > 0:46:21And these two bedrooms share a good-sized family bathroom.
0:46:26 > 0:46:29With the outside area and the old outbuildings
0:46:29 > 0:46:32given a new lease of life, this cottage is looking great.
0:46:32 > 0:46:36But making the structural changes were far from straightforward.
0:46:37 > 0:46:42The major, major job was the removal of the wall
0:46:42 > 0:46:46between the workshop and the rest of the space.
0:46:46 > 0:46:49And also knocking through to create the entrance to the utility room.
0:46:49 > 0:46:53I mean, it's what, about two foot thick.
0:46:53 > 0:46:57And I shudder when I think we were actually going to do that ourselves.
0:46:57 > 0:47:00And I thank the Lord that we didn't.
0:47:00 > 0:47:04Because we ended up with a very personal small quarry out the back.
0:47:05 > 0:47:08Which, you know, we are so grateful to the Parks Department
0:47:08 > 0:47:11for all their help in helping us to remove the stone.
0:47:11 > 0:47:16And in turn, using some of their specialist tools to create holes
0:47:16 > 0:47:19in the stonework, which we could never have done
0:47:19 > 0:47:21with ordinary power tools.
0:47:21 > 0:47:24This is a classic case of cooperation and recycling.
0:47:24 > 0:47:27Council Parks Department lent specialist tools in return
0:47:27 > 0:47:30for the stone, which will be used for projects in the area.
0:47:30 > 0:47:32It's a perfect solution.
0:47:32 > 0:47:35Jacqui and Bob tackled an amazing array of jobs themselves.
0:47:35 > 0:47:39No mean feat when you remember what a wreck this was.
0:47:39 > 0:47:42We basically rejigged the internal layout.
0:47:42 > 0:47:47Bob put the staircase in and the walls up, and the children helped,
0:47:47 > 0:47:50right down to our 11-year-old putting up plasterboard.
0:47:50 > 0:47:53Once they checked the damp and cracks, they had the roof,
0:47:53 > 0:47:56plumbing and electrics sorted out by professionals.
0:47:56 > 0:47:58But they also decided to call in other professionals,
0:47:58 > 0:48:00like decorators and plasterers.
0:48:00 > 0:48:03Normally, we would do most things ourselves.
0:48:03 > 0:48:06Erm, but with the scale of the project here,
0:48:06 > 0:48:09we wanted to move it on fairly quickly, so we did, actually.
0:48:09 > 0:48:12We got plasterers and decorators.
0:48:12 > 0:48:15However, plastering in one of the highest locations in England
0:48:15 > 0:48:16wasn't so straightforward.
0:48:16 > 0:48:20Low cloud in the summer months meant a lot of moisture in the air,
0:48:20 > 0:48:23so it took ages to dry out for the painters.
0:48:23 > 0:48:26So, with all the challenges and having changed strategy
0:48:26 > 0:48:29and calling in more professionals than they'd originally planned,
0:48:29 > 0:48:33have they managed to keep to their £35,000-£40,000 budget?
0:48:33 > 0:48:35It doubled, basically, it went to 80.
0:48:35 > 0:48:39But that said, I still think that that's good for this property.
0:48:40 > 0:48:42Was this a case of money well spent?
0:48:42 > 0:48:45Even with their total spend of 206,000,
0:48:45 > 0:48:48I think they should be OK for a resale valuation,
0:48:48 > 0:48:51as they've done a cracking job.
0:48:51 > 0:48:53Will two local property agents agree?
0:48:53 > 0:48:57It's a lovely, good-sized detached house, double-fronted.
0:48:57 > 0:48:58They're always the best.
0:48:58 > 0:49:01This is one of the oldest houses in Princetown
0:49:01 > 0:49:02and it's been beautifully done.
0:49:02 > 0:49:06Well, clearly the house is a few hundred years old originally.
0:49:06 > 0:49:10But the way that they've rejigged it with open-plan living at the back,
0:49:10 > 0:49:12particularly for the kitchen-breakfast room,
0:49:12 > 0:49:15is just what people are looking for these days.
0:49:15 > 0:49:17They've worked the layout really well.
0:49:17 > 0:49:20Classic upstairs, and downstairs, the two reception rooms,
0:49:20 > 0:49:22the walk through to the lovely...
0:49:22 > 0:49:25And the first hit, as you just drop down to the kitchen breakfast room,
0:49:25 > 0:49:26is straight down the garden.
0:49:26 > 0:49:30The garden isn't quite world-class at the moment.
0:49:30 > 0:49:34But when it is, that will be a superb view straight down,
0:49:34 > 0:49:36all the way. Well, it's beautiful.
0:49:37 > 0:49:40Jacqui and Bob renovated this property to sell on.
0:49:40 > 0:49:44They paid 126,000 and have spent 80,000 on it.
0:49:44 > 0:49:46A grand total of 206,000.
0:49:46 > 0:49:49So, what do the agents think it could sell for?
0:49:50 > 0:49:53We'd expect this house to sell for in the region
0:49:53 > 0:49:57of £265,000-275,000 at the moment.
0:49:57 > 0:50:01I would see it at £285,000.
0:50:01 > 0:50:05285 for me is probably the starting point.
0:50:05 > 0:50:07265 is a bit low.
0:50:07 > 0:50:10If Jacqui and Bob were to even get what they considered to be
0:50:10 > 0:50:13the starting point of 285,000,
0:50:13 > 0:50:17that would mean a profit of 79,000 minus any taxes and fees.
0:50:17 > 0:50:20And should they have chosen to rent it out,
0:50:20 > 0:50:25the agents reckon a figure of around £800 per calendar month,
0:50:25 > 0:50:28which would generate a yield of around 4.5%.
0:50:29 > 0:50:31How do they now feel about what they've achieved here?
0:50:32 > 0:50:35If I had my way, we wouldn't be selling this place!
0:50:36 > 0:50:40I would live here tomorrow, but unfortunately,
0:50:40 > 0:50:43our plans in life mean that we do need to sell it.
0:50:43 > 0:50:46Oh, I think Jacqui's rather fallen for this place.
0:50:46 > 0:50:49# It must be love Love, love
0:50:51 > 0:50:54# It must be love Love, love... #
0:50:58 > 0:51:01DION: It was in the Sandyford district of Stoke-on-Trent
0:51:01 > 0:51:06that we first saw this three-bed semi that was certainly colourful.
0:51:07 > 0:51:11A very blue kitchen. But it's very, very small.
0:51:11 > 0:51:16And round the corner you've got a very pink downstairs bathroom.
0:51:16 > 0:51:20Now, I'm not a fan of downstairs bathrooms anyway.
0:51:20 > 0:51:23But a bathroom off the kitchen is not for me.
0:51:23 > 0:51:25So, depending on what I'm going to find upstairs...
0:51:27 > 0:51:30..that's got to go. Big kitchen diner for me.
0:51:30 > 0:51:33There are times when downstairs bathrooms are fine,
0:51:33 > 0:51:35but this isn't one of them.
0:51:36 > 0:51:38# It's not right, it's not right for you. #
0:51:40 > 0:51:43There was also an outside loo that seemed perfectly placed
0:51:43 > 0:51:45to come in from the cold
0:51:45 > 0:51:48and be incorporated in a redesigned downstairs.
0:51:48 > 0:51:51Perhaps space upstairs for a bathroom?
0:51:51 > 0:51:54This was like one of those puzzles where you've got all the pieces
0:51:54 > 0:51:55but they're in all the wrong places.
0:51:58 > 0:52:00It was bought at auction for 65.5 grand
0:52:00 > 0:52:03by former banker turned property developer Alison.
0:52:05 > 0:52:07Although she broke one of the cardinal rules by not viewing
0:52:07 > 0:52:10the house, she was pretty clear on what she wanted to do.
0:52:12 > 0:52:13From the last property,
0:52:13 > 0:52:15we learned that a lot of people who came to view it,
0:52:15 > 0:52:19although they liked two bedrooms, they also liked a kitchen diner.
0:52:19 > 0:52:21So, that's what we hope to do with this.
0:52:21 > 0:52:24Are you finding that's the first thing you look to do?
0:52:24 > 0:52:27Erm, yeah, it is really, yes. The kitchen and the bathroom.
0:52:27 > 0:52:31As long as you can do the kitchen and the bathroom and give it that
0:52:31 > 0:52:33bit of wow, then I think you can't go wrong.
0:52:33 > 0:52:36Oh, brave words! Can't go wrong, eh?
0:52:36 > 0:52:40But to make sure this refurbishment went to plan, she had partner Steve
0:52:40 > 0:52:44by her side, who was a gas engineer and an all-round handyman.
0:52:44 > 0:52:47And together with a budget of £8,000-£10,000,
0:52:47 > 0:52:51they hoped to turn it all around within three months and sell it on.
0:52:53 > 0:52:57Four months later and we're back. Alison is a fast mover.
0:52:57 > 0:53:01They've sold this house already. So, let's get in quick.
0:53:02 > 0:53:06In the front reception room, Steve has installed central heating.
0:53:06 > 0:53:08But has Alison delivered on the kitchen?
0:53:10 > 0:53:12In the kitchen, we started there,
0:53:12 > 0:53:16we knocked down the wall between the bathroom and the kitchen.
0:53:27 > 0:53:30Opened up the outside storage areas,
0:53:30 > 0:53:33the outside toilet, into the kitchen.
0:53:36 > 0:53:38Originally, we had three bedrooms upstairs.
0:53:38 > 0:53:41Erm, the smaller bedroom at the back,
0:53:41 > 0:53:43we moved the bathroom into there.
0:53:57 > 0:53:59There are the odd snagging jobs to finish off.
0:53:59 > 0:54:03The garden, for one, needs a bit of a tidy-up. But it's not bad.
0:54:03 > 0:54:04Not bad at all.
0:54:11 > 0:54:15I was responsible for choosing the paint,
0:54:15 > 0:54:18choosing the tiles for the kitchen and the bathroom.
0:54:18 > 0:54:22I did the painting, all the wallpaper stripping,
0:54:22 > 0:54:25cleaning, everything like that.
0:54:25 > 0:54:28All the heavy works, my partner Steve did that.
0:54:28 > 0:54:31He's been great, I really couldn't have done this without him.
0:54:31 > 0:54:34One job they did need to get a builder in for
0:54:34 > 0:54:37was to block up a window and a couple of doorways.
0:54:37 > 0:54:40But finding the materials was a bit of a challenge.
0:54:41 > 0:54:45# Hunting high and low
0:54:46 > 0:54:47# High... #
0:54:47 > 0:54:51We originally scoured the reclaim building yards
0:54:51 > 0:54:56to get the bricks to brick up the doorways outside and the window.
0:54:56 > 0:55:01Erm, we did that so that outside looks nice and neat.
0:55:01 > 0:55:02We're quite pleased with that.
0:55:02 > 0:55:04Yes, it's not a bad match.
0:55:04 > 0:55:07Not maybe a match made in heaven but pretty good.
0:55:08 > 0:55:10# We go well together... #
0:55:11 > 0:55:15But with property developing being relatively new to Alison,
0:55:15 > 0:55:18is she finding she's suited to her new career path?
0:55:18 > 0:55:21I'm learning each time we do something
0:55:21 > 0:55:24and I like to be my own boss.
0:55:24 > 0:55:25And it's just something else to do.
0:55:25 > 0:55:29I'm a bit too young to retire completely and I like to have
0:55:29 > 0:55:33a challenge and I thought this was an opportunity to get that.
0:55:33 > 0:55:34It certainly is.
0:55:34 > 0:55:38But one area where banking skills should come to the fore
0:55:38 > 0:55:40is managing that budget.
0:55:40 > 0:55:45We did have a budget of 8-10,000, we have exceeded that slightly,
0:55:45 > 0:55:48up to a figure of about 12,000.
0:55:48 > 0:55:51But we are pleased with that and we're happy with the result.
0:55:52 > 0:55:57£12,000 on top of her 65.5 grand purchase price
0:55:57 > 0:55:59takes her total spend here
0:55:59 > 0:56:02to £77,500.
0:56:02 > 0:56:06But moving the bathroom has turned this house from a three-bed
0:56:06 > 0:56:07to a two-bed house.
0:56:07 > 0:56:10So, are the changes for the better?
0:56:10 > 0:56:12What did two local estate agents think?
0:56:12 > 0:56:15The general look, it's beautiful, very well presented
0:56:15 > 0:56:19and I think everything's being done to a really good high standard.
0:56:19 > 0:56:22It's an excellent standard of finish.
0:56:22 > 0:56:24Erm, it's been updated throughout
0:56:24 > 0:56:26and it's ready to move straight into.
0:56:26 > 0:56:29I think the layout flows really well.
0:56:29 > 0:56:30You've got a nice open-plan lounge
0:56:30 > 0:56:32going into the beautiful fitted kitchen.
0:56:32 > 0:56:35And handy to have a separate toilet downstairs.
0:56:35 > 0:56:39I particularly like where it's situated, in the cul-de-sac.
0:56:39 > 0:56:41I like the open aspect at the back.
0:56:44 > 0:56:46Currently, Alison's model is to buy and sell on.
0:56:46 > 0:56:48And given that she's sold this one already,
0:56:48 > 0:56:51this seems to be working for her. But is it profitable?
0:56:51 > 0:56:54She's invested 77.5 grand,
0:56:54 > 0:56:57so what do the estate agents think this house could sell for?
0:56:59 > 0:57:04The resale value of the property will be between sort of £90-95,000.
0:57:04 > 0:57:08I would recommend a figure in the region of £93,000.
0:57:08 > 0:57:13We have actually sold the property to our electrician, actually.
0:57:13 > 0:57:16The selling price is 94,000.
0:57:17 > 0:57:19So, we've made a profit on that,
0:57:19 > 0:57:22which suits us and suits him as well.
0:57:22 > 0:57:25So, well within the estate agents' valuations, good stuff.
0:57:25 > 0:57:30And with a 16.5 grand profit, minus taxes and fees, of course,
0:57:30 > 0:57:33Alison is ready to carry on with her flourishing property career.
0:57:33 > 0:57:36She's already bought two properties since we saw her last.
0:57:36 > 0:57:40Two properties at the same time? She loves a challenge!
0:57:40 > 0:57:44It could be a bit busier than doing one, but until I try it,
0:57:44 > 0:57:47I won't really know what it will be like.
0:57:47 > 0:57:49But I'm looking forward to the challenge.
0:57:51 > 0:57:54Well, that's another set of property owners that have enjoyed
0:57:54 > 0:57:57the highs and lows of buying at auction.
0:57:57 > 0:57:59Yes, that is it for today's show, but before you sob
0:57:59 > 0:58:01into your morning coffee, don't panic,
0:58:01 > 0:58:04we will be back with more action from the auction
0:58:04 > 0:58:07- very soon here on Homes Under The Hammer.- Goodbye.