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Hello and welcome to the show. | 0:00:02 | 0:00:03 | |
Despite the property markets being very different all over the country, | 0:00:03 | 0:00:06 | |
buying a property at auction is still very popular, | 0:00:06 | 0:00:09 | |
with hundreds of properties being sold every month. | 0:00:09 | 0:00:12 | |
Yes, it's quite a big job, keeping track of all the homes that are sold | 0:00:12 | 0:00:15 | |
under the hammer, so therefore we need a new member of the team - | 0:00:15 | 0:00:19 | |
and I'm delighted to welcome Martel Maxwell. | 0:00:19 | 0:00:21 | |
-Hello. -Thanks, guys. It's brilliant to be here. | 0:00:21 | 0:00:24 | |
I absolutely love property and I've invested in and built property over | 0:00:24 | 0:00:28 | |
a long period of time, and I can't wait to see people do the same here | 0:00:28 | 0:00:31 | |
on Homes Under The Hammer. | 0:00:31 | 0:00:33 | |
Leaky roofs, dodgy electrics, plumbing issues. | 0:00:59 | 0:01:03 | |
-Do I need to go on? -I think we get the picture, Dion. | 0:01:03 | 0:01:05 | |
When it comes to renovating property, the potential issues are endless. | 0:01:05 | 0:01:09 | |
They certainly are. | 0:01:09 | 0:01:11 | |
So, what issues did today's buyers have to face when they bought | 0:01:11 | 0:01:15 | |
their properties? | 0:01:15 | 0:01:17 | |
In Lichfield - oh, it's exciting. | 0:01:18 | 0:01:21 | |
My first Hammer property. | 0:01:21 | 0:01:23 | |
And it has just what I need - complete privacy. | 0:01:23 | 0:01:26 | |
Well, I don't think I can quite believe my eyes at what I find in | 0:01:28 | 0:01:31 | |
this two-bedroomed bungalow in Stoke. | 0:01:31 | 0:01:34 | |
What on earth is that?! | 0:01:34 | 0:01:37 | |
Seeing really is believing, | 0:01:38 | 0:01:40 | |
especially at this mid-terrace in south-west London. | 0:01:40 | 0:01:44 | |
Look at this ceiling! | 0:01:44 | 0:01:45 | |
I think you actually call them stalactites. | 0:01:45 | 0:01:49 | |
All these properties have been sold at auction and we'll find out who | 0:01:49 | 0:01:53 | |
bought them and what they paid for them when they went under the hammer. | 0:01:53 | 0:01:57 | |
Sold. | 0:01:57 | 0:01:58 | |
# Sha la la la la la la... # | 0:02:00 | 0:02:02 | |
All together now... | 0:02:02 | 0:02:04 | |
# Sha la la la la la la la... # | 0:02:04 | 0:02:06 | |
Can you guess where I am? It's not Amarillo. | 0:02:08 | 0:02:11 | |
This is Lichfield - | 0:02:11 | 0:02:13 | |
sadly not the one in America, it's the one 18 miles north of Birmingham, | 0:02:13 | 0:02:18 | |
where singer Tony Christie made his home. | 0:02:18 | 0:02:20 | |
# When the day is dawning... # | 0:02:22 | 0:02:23 | |
Walking around Lichfield, | 0:02:25 | 0:02:26 | |
it's clear this place is not short of one thing, and that's | 0:02:26 | 0:02:30 | |
character properties, partly down to the fact it's a conservation area. | 0:02:30 | 0:02:33 | |
There are some really lovely cottages and period houses in the area, | 0:02:33 | 0:02:38 | |
so will the one I'm here to see today deliver in the character stakes? | 0:02:38 | 0:02:42 | |
Well, this is it. | 0:02:42 | 0:02:44 | |
It's a three-bedroom mews-style cottage with a guide price of | 0:02:44 | 0:02:48 | |
£124,000 to £128,000. | 0:02:48 | 0:02:51 | |
I can't wait to look inside. | 0:02:51 | 0:02:52 | |
OK. I won't lie. | 0:03:00 | 0:03:01 | |
I'm a wee bit disappointed. | 0:03:01 | 0:03:03 | |
An awful lot of character features have been taken out. | 0:03:03 | 0:03:06 | |
So, look at that fireplace. It's really modern. | 0:03:06 | 0:03:08 | |
And, obviously, an original was there at some stage. | 0:03:08 | 0:03:12 | |
And this is just a bit ugly, isn't it? | 0:03:12 | 0:03:15 | |
It's boxing in all the electrics. | 0:03:15 | 0:03:18 | |
But the positives are, it's a really good feel of space. | 0:03:18 | 0:03:22 | |
It seems so solid, and you do actually have an original beam along | 0:03:22 | 0:03:26 | |
the roof. So all's not lost. | 0:03:26 | 0:03:29 | |
And it does have a nice feel. | 0:03:29 | 0:03:31 | |
Going through to the kitchen, | 0:03:31 | 0:03:33 | |
not the biggest but, you know, it's big enough for all your appliances. | 0:03:33 | 0:03:37 | |
It would need to come out, fully modernised, and this wall, | 0:03:37 | 0:03:41 | |
I'm just thinking... | 0:03:41 | 0:03:44 | |
It's a very thick wall. | 0:03:44 | 0:03:46 | |
You would need to get in touch with a structural engineer for some | 0:03:46 | 0:03:48 | |
advice but if you opened this up and knocked through to the living area, | 0:03:48 | 0:03:52 | |
it would suddenly be a very open and modern feeling. | 0:03:52 | 0:03:55 | |
So, definitely something worth considering. | 0:03:55 | 0:03:58 | |
A very new boiler. | 0:03:58 | 0:03:59 | |
Actually, this surprises me, in a property of this age, that you have | 0:03:59 | 0:04:03 | |
what looks like a good new heating system. | 0:04:03 | 0:04:06 | |
So, not all mod cons are bad. | 0:04:06 | 0:04:08 | |
Right, outside. | 0:04:08 | 0:04:10 | |
Now, I knew from the auction notes not to expect a garden. | 0:04:14 | 0:04:17 | |
It said a yard. That is what it is. | 0:04:17 | 0:04:19 | |
It's very small, very concrete. | 0:04:19 | 0:04:21 | |
And in a house like this, you just expect to have a wee bit of greenery. | 0:04:21 | 0:04:26 | |
Well, you could think about taking this wall down because, of course, | 0:04:26 | 0:04:29 | |
there's no parking either. | 0:04:29 | 0:04:31 | |
Could make it wider to get a car in but we're in a conservation area. | 0:04:31 | 0:04:35 | |
Usually, what you can do to the exterior is pretty limited. | 0:04:35 | 0:04:38 | |
That said, you do have some outside space. | 0:04:38 | 0:04:41 | |
If you were in London, you'd probably view it as quite a roomy garden. | 0:04:41 | 0:04:45 | |
Get a water feature over there. | 0:04:45 | 0:04:47 | |
You could be inventive here though. | 0:04:47 | 0:04:49 | |
You could get a bit of decking, a little room for a barbecue. | 0:04:49 | 0:04:51 | |
All's not lost. | 0:04:51 | 0:04:53 | |
# I beg your pardon | 0:04:59 | 0:05:00 | |
# I never promised you a rose garden... # | 0:05:02 | 0:05:06 | |
Upstairs to the first floor and, OK, this is quite a small bedroom. | 0:05:06 | 0:05:10 | |
I guess you could use it as an office. | 0:05:10 | 0:05:12 | |
It feels quite cramped, it does. | 0:05:12 | 0:05:15 | |
But I quite like the quirkiness, a wee bit like a doll's house. | 0:05:15 | 0:05:19 | |
Here we have a bathroom, which again is pretty small but an OK size, | 0:05:19 | 0:05:23 | |
considering the size of the property. | 0:05:23 | 0:05:26 | |
Definitely needs taking out. | 0:05:26 | 0:05:27 | |
You need a shower in there too. | 0:05:27 | 0:05:29 | |
I'm through to a master bedroom. | 0:05:29 | 0:05:31 | |
This is a nice-proportioned room, high ceiling. | 0:05:31 | 0:05:35 | |
It all feels quite solid. | 0:05:35 | 0:05:37 | |
The floorboards... | 0:05:37 | 0:05:38 | |
But here, what a shame! | 0:05:38 | 0:05:40 | |
This breaks my heart. | 0:05:40 | 0:05:42 | |
An original fireplace has been taken out, | 0:05:42 | 0:05:44 | |
taking away some of the character again. | 0:05:44 | 0:05:47 | |
Oh! Another thing that breaks my heart. | 0:05:47 | 0:05:49 | |
The modern-ness of the UPVC windows, | 0:05:49 | 0:05:52 | |
not in keeping at all with the property. | 0:05:52 | 0:05:55 | |
But hold on, there's Lichfield's Cathedral, | 0:05:55 | 0:05:57 | |
and what a view of the spires you've got! | 0:05:57 | 0:06:00 | |
Do you know what? I can forgive the windows. | 0:06:00 | 0:06:02 | |
As long as you can see out them and see that, I'll forgive anything. | 0:06:02 | 0:06:06 | |
CHOIR SINGS | 0:06:06 | 0:06:09 | |
Earlier, we took a closer look. | 0:06:09 | 0:06:12 | |
Do you know, it's the only cathedral in England with three spires. | 0:06:12 | 0:06:15 | |
And back in the day, the seat of the diocese covered from the Humber to | 0:06:15 | 0:06:19 | |
the Thames. Part of the reason it's a Grade I listed building. | 0:06:19 | 0:06:23 | |
There's a lot of history in Lichfield. | 0:06:23 | 0:06:25 | |
Up more stairs to our top floor. | 0:06:29 | 0:06:32 | |
I love this beer garden. | 0:06:32 | 0:06:34 | |
You might not have your own garden but the people-watching you could do there. | 0:06:34 | 0:06:37 | |
And the natural light that comes in upstairs compared to the | 0:06:37 | 0:06:41 | |
ground floor is fantastic. | 0:06:41 | 0:06:44 | |
And through here to your top-floor bedroom, I like it. | 0:06:44 | 0:06:48 | |
You're in the eaves. | 0:06:48 | 0:06:49 | |
That's character all of its own. | 0:06:49 | 0:06:51 | |
A cupboard. Well, it's pretty small. | 0:06:52 | 0:06:55 | |
I'm just thinking... | 0:06:55 | 0:06:57 | |
I wonder if there's a way to put an en suite. | 0:06:57 | 0:07:00 | |
It would really add some terrific value to the house but there doesn't | 0:07:00 | 0:07:04 | |
seem to... | 0:07:04 | 0:07:05 | |
Here we go. So, here's a cupboard. | 0:07:06 | 0:07:10 | |
Great news, this stud partition is the lightest you'll get. | 0:07:10 | 0:07:14 | |
That could easily come down. | 0:07:14 | 0:07:16 | |
Let's see how much room there is inside. | 0:07:16 | 0:07:19 | |
OK. So, I'm not the tallest, but there's plenty of room for a shower. | 0:07:19 | 0:07:23 | |
Over there, a toilet. | 0:07:23 | 0:07:25 | |
Bring the partition out a bit, it's certainly possible, I think. | 0:07:25 | 0:07:30 | |
And then you have this door here, | 0:07:30 | 0:07:33 | |
which could double up to lock this room and then come over here. | 0:07:33 | 0:07:38 | |
Complete privacy. | 0:07:39 | 0:07:42 | |
Well, kind of. | 0:07:42 | 0:07:45 | |
Next, the opinion of a property expert from the auction house who | 0:07:45 | 0:07:49 | |
sold the property. | 0:07:49 | 0:07:51 | |
But will he find me hiding in the cupboard on the top floor? | 0:07:51 | 0:07:54 | |
First impressions of the property, it has been ruined, in a way, | 0:07:57 | 0:08:01 | |
with the UPVC windows that have been put in. | 0:08:01 | 0:08:04 | |
The loft extension doesn't look very pretty at all. | 0:08:04 | 0:08:07 | |
There's also the issue, there's no parking, | 0:08:07 | 0:08:10 | |
just a small yard, which would put people off. | 0:08:10 | 0:08:13 | |
Mm. Given that, is there anything good to say about the property? | 0:08:13 | 0:08:16 | |
It's literally right in the middle of the city of Lichfield. | 0:08:16 | 0:08:20 | |
It's a very easy walk to the local restaurants and shops. | 0:08:20 | 0:08:23 | |
So, what could this quirky cottage, | 0:08:23 | 0:08:26 | |
guided at £124,000 to £128,000, | 0:08:26 | 0:08:29 | |
be worth when renovated? | 0:08:29 | 0:08:32 | |
I'd anticipate achieving a figure in the region of £200,000. | 0:08:32 | 0:08:38 | |
So, there's not as much character as I'd hoped for but there's still | 0:08:38 | 0:08:41 | |
plenty of charm in this property and it's very unique. | 0:08:41 | 0:08:45 | |
And who couldn't fall in love with THAT view? | 0:08:45 | 0:08:48 | |
Let's find out who did, when it went under the hammer. | 0:08:48 | 0:08:51 | |
Ladies and gentlemen, lot 91, £100,000 to start that one. | 0:08:51 | 0:08:55 | |
80 then? Thank you, sir. | 0:08:57 | 0:08:59 | |
80, I'll take that one. | 0:08:59 | 0:09:00 | |
£80,000 on my left. | 0:09:00 | 0:09:02 | |
Seated at 80,000. | 0:09:02 | 0:09:03 | |
I'll take 90 now. | 0:09:03 | 0:09:04 | |
The lot got off to a rapid start. | 0:09:04 | 0:09:07 | |
We rejoin the bidding with the auctioneer looking for a bid of | 0:09:07 | 0:09:11 | |
-£125,000. -125. 130, sir? | 0:09:11 | 0:09:14 | |
130, sir. Thank you. | 0:09:14 | 0:09:16 | |
130. 135, madam? | 0:09:16 | 0:09:17 | |
Do the same again? £130,000, for the first time, the second time, | 0:09:17 | 0:09:22 | |
the third and the very last time. | 0:09:22 | 0:09:24 | |
It's yours to number 128, sir. | 0:09:24 | 0:09:27 | |
Thank you very much indeed. | 0:09:27 | 0:09:29 | |
The successful bidder, securing the lot for just a couple of thousand | 0:09:29 | 0:09:32 | |
pounds over the top guide price, was Scott. | 0:09:32 | 0:09:35 | |
He set up a new property-developing company with his two friends. | 0:09:36 | 0:09:41 | |
We met up to see if they're going to be bringing on back the good times | 0:09:41 | 0:09:44 | |
and original features to the property. | 0:09:44 | 0:09:47 | |
Scott, congratulations. | 0:09:47 | 0:09:49 | |
Thank you. | 0:09:49 | 0:09:51 | |
Was it your first time at auction? | 0:09:51 | 0:09:52 | |
No, it's not my first time. | 0:09:52 | 0:09:54 | |
No. Last year I purchased another property at auction. | 0:09:54 | 0:09:57 | |
But it's still as exciting at this one, but it was far in excess of | 0:09:57 | 0:09:59 | |
what we initially anticipated paying. | 0:09:59 | 0:10:02 | |
What did your partners say? | 0:10:02 | 0:10:04 | |
What did they think when you broke the news? | 0:10:04 | 0:10:06 | |
I don't really know because they didn't speak to me for a while. | 0:10:06 | 0:10:08 | |
SHE LAUGHS | 0:10:08 | 0:10:10 | |
-Funny that. -Yeah, I know. | 0:10:10 | 0:10:11 | |
But, er, they eventually came round. | 0:10:11 | 0:10:13 | |
We did have a viewing the week after the auction and we were all very | 0:10:13 | 0:10:17 | |
pleasantly surprised with what we found and they cheered up somewhat. | 0:10:17 | 0:10:20 | |
OK. So, I'm guessing, if you didn't mean to buy a property, | 0:10:20 | 0:10:23 | |
you didn't follow the Hammer golden rule of looking inside first? | 0:10:23 | 0:10:27 | |
Where can I hide? No, I didn't. No. | 0:10:27 | 0:10:30 | |
I didn't actually view the property. | 0:10:32 | 0:10:34 | |
You didn't read the legal pack? | 0:10:34 | 0:10:36 | |
Not really, no. There was an extra £10,000 in agency fees. | 0:10:36 | 0:10:41 | |
I had to pay their solicitor, the auction house, | 0:10:41 | 0:10:44 | |
which totalled it up to about £10,000 more. | 0:10:44 | 0:10:46 | |
So that was a bit of a hit but, still, I think | 0:10:46 | 0:10:49 | |
we're in a good position to make some money. | 0:10:49 | 0:10:51 | |
That'll teach you. Let's turn to the positives. | 0:10:51 | 0:10:53 | |
Cos it is... It looks like it needs quite a bit done but hopefully just | 0:10:53 | 0:10:58 | |
-cosmetic. -There's a bit of damp in a few areas, which we'll rectify, | 0:10:58 | 0:11:02 | |
but on top of that, it'll be new kitchen, new bathroom, | 0:11:02 | 0:11:05 | |
and renovating throughout. | 0:11:05 | 0:11:07 | |
Any plans to change the layout? | 0:11:07 | 0:11:09 | |
Yes, the one change down here would be to remove this wall. | 0:11:09 | 0:11:12 | |
OK. So, that's... | 0:11:12 | 0:11:15 | |
Is that not going to cause a problem because of the conservation area? | 0:11:15 | 0:11:18 | |
-That's a proper wall. -That's going to be something I'm going to take up | 0:11:18 | 0:11:21 | |
with the council - whether it's got any internal covenants on it. | 0:11:21 | 0:11:26 | |
I don't believe it will have - but that's a phone call I've got to make, yeah. | 0:11:26 | 0:11:29 | |
Now, time scale? When do want to turn this round by? | 0:11:29 | 0:11:33 | |
We're looking at about six to eight weeks. | 0:11:33 | 0:11:35 | |
Six to eight WEEKS, OK. So, you want a quick turnaround. | 0:11:35 | 0:11:37 | |
Yeah, we're going to turn it round quite quick, yeah. | 0:11:37 | 0:11:40 | |
We're going to throw a few bodies at it. | 0:11:40 | 0:11:42 | |
We've got plumbers, electricians, chippies. | 0:11:42 | 0:11:45 | |
So we cover all angles, really. | 0:11:45 | 0:11:47 | |
Also, I've got plans to put back in some of the original features it's | 0:11:47 | 0:11:50 | |
lost over the years. | 0:11:50 | 0:11:52 | |
You do. Like what? | 0:11:52 | 0:11:53 | |
Wrought-iron fireplaces, that sort of thing. | 0:11:53 | 0:11:56 | |
But also having the modern twist in areas as well. | 0:11:56 | 0:11:59 | |
I'm so happy to hear that. | 0:11:59 | 0:12:01 | |
-Thank you. -Because although you're doing it as a business, | 0:12:01 | 0:12:04 | |
and to make a profit, you care that whoever comes in has a bit of the | 0:12:04 | 0:12:07 | |
-original character. -Yeah, I like to bring back some of the past, yeah, | 0:12:07 | 0:12:12 | |
into the property, yeah, and bring back the original features. | 0:12:12 | 0:12:15 | |
-And your budget? -About £20,000 we're looking at spending. | 0:12:15 | 0:12:19 | |
And do you plan to rent this out or sell? | 0:12:19 | 0:12:22 | |
At the moment, with our situation, | 0:12:22 | 0:12:24 | |
I'd like to flip it and move on to the next project. | 0:12:24 | 0:12:27 | |
I feel that we should say hello to your partners. | 0:12:27 | 0:12:29 | |
-What are their names? -Ian and Steve. | 0:12:29 | 0:12:32 | |
Yes. Sorry, lads, but I think it will all turn out well in the end. | 0:12:32 | 0:12:36 | |
They have made up with you, yeah? | 0:12:36 | 0:12:38 | |
-Yes, we're all good now. -Fantastic. | 0:12:38 | 0:12:40 | |
Can't wait to see what you do with the place. | 0:12:40 | 0:12:43 | |
-Good luck. -Thank you. | 0:12:43 | 0:12:45 | |
Ian and Steve may not have expected to take this place on when Scott | 0:12:45 | 0:12:49 | |
went to auction but, thankfully, | 0:12:49 | 0:12:51 | |
they both seem to be on board and they don't seem to be fazed by the | 0:12:51 | 0:12:54 | |
project, which is fair enough, given their experience. | 0:12:54 | 0:12:57 | |
But will they be able to bring back some of the character features this | 0:12:57 | 0:13:01 | |
place so deserves? | 0:13:01 | 0:13:02 | |
I really hope so. | 0:13:02 | 0:13:04 | |
We can find out later in the show. | 0:13:04 | 0:13:05 | |
Hanley is historically one of the six pottery towns that make up the | 0:13:10 | 0:13:14 | |
city of Stoke-on-Trent in Staffordshire. | 0:13:14 | 0:13:16 | |
More recently, it's thought of as the central hub and city centre of Stoke. | 0:13:19 | 0:13:23 | |
With plenty of shops, amenities and transport links, | 0:13:23 | 0:13:27 | |
it's easy to see why. | 0:13:27 | 0:13:28 | |
Well, just half a mile from Hanley centre is the property I'm here to see. | 0:13:31 | 0:13:36 | |
A two-bedroom bungalow, guide price £70,000, plus nice views. | 0:13:36 | 0:13:41 | |
Let's have a look. Blimey! | 0:13:41 | 0:13:44 | |
This driveway... | 0:13:44 | 0:13:46 | |
# You know the time has come | 0:13:46 | 0:13:48 | |
# Must be done, we're goin' down here... # | 0:13:48 | 0:13:50 | |
Well, I'll tell you, | 0:13:52 | 0:13:54 | |
the first thing you'd want to do is consider that driveway. | 0:13:54 | 0:13:57 | |
Wow, that is steep. | 0:13:57 | 0:13:58 | |
Maybe some steps to one side, so it isn't such a hazard if you were walking down. | 0:13:58 | 0:14:02 | |
I think, for a car, it would be all right. | 0:14:02 | 0:14:04 | |
But anyway, moving on from the driveway, | 0:14:04 | 0:14:06 | |
what have we got when you enter into the bungalow itself? | 0:14:06 | 0:14:08 | |
Well, obviously, some steps up to the attic. | 0:14:08 | 0:14:11 | |
We'll explore that a little bit later. | 0:14:11 | 0:14:13 | |
Kitchen to the left there. | 0:14:13 | 0:14:15 | |
I don't like the position of the immersion heater, | 0:14:15 | 0:14:18 | |
that's a bit in the way, isn't it? And all this stuff. | 0:14:18 | 0:14:21 | |
Get rid of all that. Open it up. | 0:14:21 | 0:14:22 | |
In a smaller house, a relatively smaller house like this, | 0:14:22 | 0:14:25 | |
you want to open it up as much as you possibly can. | 0:14:25 | 0:14:28 | |
So, replace all the units and try and open that up as much as you can. | 0:14:28 | 0:14:31 | |
Actually, bit of a surprise, you come in here, | 0:14:31 | 0:14:33 | |
a really good-sized living room, | 0:14:33 | 0:14:36 | |
which looks to be in fairly decent condition. | 0:14:36 | 0:14:39 | |
Relatively newish-looking central-heating system. | 0:14:39 | 0:14:43 | |
So that's quite a bonus. | 0:14:43 | 0:14:46 | |
I wonder if there's something you could even do to take out this wall, | 0:14:46 | 0:14:49 | |
open it up completely into the kitchen, | 0:14:49 | 0:14:52 | |
maybe put a breakfast bar or something like that in. | 0:14:52 | 0:14:54 | |
Whatever. Down this little corridor | 0:14:54 | 0:14:56 | |
you've got a bathroom and loo in one place, a bit small. | 0:14:56 | 0:15:00 | |
The first of your bedrooms there. | 0:15:00 | 0:15:03 | |
Again that looks a bit tiny. | 0:15:03 | 0:15:04 | |
Second bedroom, a bit bigger, | 0:15:04 | 0:15:07 | |
but this layout is just not working for me because through this bedroom | 0:15:07 | 0:15:12 | |
into... | 0:15:12 | 0:15:15 | |
Look. A little conservatory off a bedroom! | 0:15:15 | 0:15:18 | |
Does that make sense? | 0:15:18 | 0:15:20 | |
I definitely think there is internal jiggery-pokery to be done. | 0:15:20 | 0:15:25 | |
Intrinsically a good bungalow, it just needs some thought. | 0:15:25 | 0:15:30 | |
# Let's think it over, oh, yeah... # | 0:15:30 | 0:15:33 | |
This bungalow offers a puzzle but the missing piece is unlikely to be | 0:15:34 | 0:15:38 | |
in the overgrown back garden. | 0:15:38 | 0:15:40 | |
The split level means any extension could prove prohibitively expensive. | 0:15:40 | 0:15:44 | |
The easiest option would be simply swapping round the master bedroom | 0:15:44 | 0:15:48 | |
and living room. | 0:15:48 | 0:15:50 | |
The downside would be that the master bedroom faces out to the | 0:15:50 | 0:15:53 | |
front and is sandwiched between the living room and the kitchen. | 0:15:53 | 0:15:56 | |
So, where to put that bedroom? | 0:15:56 | 0:15:58 | |
Answers to property conundrums don't usually go over my head but in this | 0:16:00 | 0:16:04 | |
case... | 0:16:04 | 0:16:06 | |
Well, whenever you're looking round bungalows, | 0:16:08 | 0:16:10 | |
one thing you want to try and do, if you can, is look up in the attic space. | 0:16:10 | 0:16:14 | |
In this case, there is a loft ladder which makes it very easy but I do | 0:16:14 | 0:16:17 | |
know people who carry around little sets of ladders, so they can access | 0:16:17 | 0:16:21 | |
the attic space. As I said, it's a really important thing to do just to | 0:16:21 | 0:16:24 | |
check the condition of the roof itself, the joists, etc... | 0:16:24 | 0:16:28 | |
But in this case, being a bungalow, | 0:16:28 | 0:16:30 | |
what I'm looking for most is, is there an opportunity to maybe extend | 0:16:30 | 0:16:35 | |
up here, possibly put in a dormer or something like that? | 0:16:35 | 0:16:38 | |
And unfortunately I don't think it's going to work here because there | 0:16:38 | 0:16:41 | |
isn't the roof height that you would require. | 0:16:41 | 0:16:44 | |
The one thing that is good is that you've got floorboards down, which | 0:16:44 | 0:16:47 | |
definitely makes it a usable space. | 0:16:47 | 0:16:50 | |
However, what on earth is that? | 0:16:50 | 0:16:52 | |
Somebody's built some kind of little room up here. | 0:16:52 | 0:16:54 | |
A bit odd. I think that needs to go. | 0:16:56 | 0:16:58 | |
This would never meet building regulations, so it's a no-no. | 0:16:59 | 0:17:03 | |
Time for me to... | 0:17:03 | 0:17:05 | |
# Get down! # | 0:17:05 | 0:17:07 | |
..from here and hear from a local property expert. | 0:17:07 | 0:17:09 | |
We asked an agent from the auction house along to give the | 0:17:11 | 0:17:14 | |
two-bed bungalow a look. | 0:17:14 | 0:17:16 | |
First of all, did he see any opportunity | 0:17:16 | 0:17:19 | |
in exploiting that attic space? | 0:17:19 | 0:17:21 | |
My opinion would be that it's not really necessary to go into | 0:17:23 | 0:17:26 | |
the roof space to provide further accommodation. | 0:17:26 | 0:17:29 | |
One of the big selling points of the property is that it is a | 0:17:29 | 0:17:31 | |
true bungalow - all the accommodation on one level. | 0:17:31 | 0:17:34 | |
That really could be its main selling point anyway. | 0:17:34 | 0:17:37 | |
Pressure to get the most out of land supply has meant the number of | 0:17:37 | 0:17:40 | |
bungalows being built is in serious decline. | 0:17:40 | 0:17:43 | |
It's a pity, as many people like one-level living with a garden | 0:17:43 | 0:17:48 | |
and they suit people with mobility issues. | 0:17:48 | 0:17:50 | |
But that shortage means bungalows are fetching a premium in some areas, | 0:17:50 | 0:17:54 | |
so what value could you add to that £70,000 guide price? | 0:17:54 | 0:17:59 | |
After refurbishment of this bungalow, I would place it on the | 0:17:59 | 0:18:02 | |
market in the region of £120,000. | 0:18:02 | 0:18:05 | |
Well, a good little project for someone, this. | 0:18:05 | 0:18:08 | |
Bungalows enduringly popular and not too much work needed to sort this | 0:18:08 | 0:18:13 | |
one out. Who went for it? | 0:18:13 | 0:18:15 | |
Let's find out when it went under the hammer. | 0:18:15 | 0:18:17 | |
70 to start me on this one. | 0:18:18 | 0:18:20 | |
Two-bedroomed semidetached bungalow. | 0:18:21 | 0:18:24 | |
70, can I say? 70 bid in front of the door. | 0:18:24 | 0:18:27 | |
Thank you. At £70,000. | 0:18:27 | 0:18:29 | |
I'll go in ones on this. | 0:18:29 | 0:18:31 | |
To you at 71. 72. | 0:18:31 | 0:18:32 | |
There were plenty of bidders interested in this lot. | 0:18:32 | 0:18:35 | |
We rejoin it at £85,000. | 0:18:35 | 0:18:38 | |
£85,000 twice. | 0:18:38 | 0:18:40 | |
Third and final time... | 0:18:40 | 0:18:41 | |
Just in time. 86. | 0:18:43 | 0:18:46 | |
87. 88. | 0:18:46 | 0:18:48 | |
No? £88,000 for the first time. | 0:18:49 | 0:18:52 | |
At £88,000 for the second time. | 0:18:52 | 0:18:56 | |
All sure and done? | 0:18:56 | 0:18:58 | |
Sold to you, sir. 88,000. | 0:18:58 | 0:19:01 | |
Hiding from the view of our cameras was Rob and his wife Ali. | 0:19:01 | 0:19:04 | |
Rob is from Stoke originally but now lives in Edinburgh with his wife Ali | 0:19:04 | 0:19:09 | |
and they travelled down to tell me why they spent £88,000 on this | 0:19:09 | 0:19:13 | |
bungalow so far from home. | 0:19:13 | 0:19:15 | |
Ali, Rob, good to meet you both. | 0:19:18 | 0:19:20 | |
-And you. -And you. -Congratulations. | 0:19:20 | 0:19:23 | |
Tell me why you wanted to buy this bungalow. | 0:19:23 | 0:19:25 | |
It just felt the right time to get into property development. | 0:19:25 | 0:19:29 | |
We've been thinking about it for some time. | 0:19:29 | 0:19:32 | |
Yes, financially, it just seemed the right time so we bought this and | 0:19:32 | 0:19:36 | |
-another property. -On the same day? | 0:19:36 | 0:19:38 | |
-Yes. -Oh, wow. | 0:19:38 | 0:19:40 | |
We were signing for the other one when we purchased this one. | 0:19:40 | 0:19:43 | |
I was actually bidding on this while she was signing for the other. | 0:19:43 | 0:19:46 | |
No! You don't do things by halves, then. | 0:19:46 | 0:19:49 | |
-No. -Just to add to the drama! | 0:19:49 | 0:19:51 | |
The normal course of action would be to maybe try one and see how it goes. | 0:19:52 | 0:19:56 | |
Yeah, no, we don't like to make it easy on ourselves. | 0:19:56 | 0:19:59 | |
THEY LAUGH | 0:19:59 | 0:20:02 | |
Rob, what do you both do? | 0:20:02 | 0:20:03 | |
Well, I'm not doing anything now. | 0:20:03 | 0:20:06 | |
I left my job to come here to do property development. | 0:20:06 | 0:20:10 | |
Oh, great. What were you doing before? | 0:20:10 | 0:20:12 | |
Customer service advisor at Edinburgh Council. | 0:20:12 | 0:20:15 | |
Oh, OK. | 0:20:15 | 0:20:17 | |
So complete shift of career. | 0:20:17 | 0:20:19 | |
-Yes. -Great. How exciting. | 0:20:19 | 0:20:21 | |
How about you? | 0:20:21 | 0:20:22 | |
Well, I'm a writer, so I work from home anyway, so I shall just work around that. | 0:20:22 | 0:20:28 | |
Oh, OK. Is property going to be the main source of income from now on? | 0:20:28 | 0:20:32 | |
For the next couple of years. | 0:20:32 | 0:20:34 | |
We're just trying to raise a bit of extra | 0:20:34 | 0:20:37 | |
income to start a rural business. | 0:20:37 | 0:20:40 | |
Doing what? | 0:20:40 | 0:20:42 | |
Some market gardening and maybe a yurt village. | 0:20:42 | 0:20:45 | |
-Oh, great. -That's our | 0:20:45 | 0:20:47 | |
-plans for the future. -And you'll use property to finance that dream? | 0:20:47 | 0:20:50 | |
Yes. | 0:20:50 | 0:20:52 | |
This is a new chapter for Ali and Rob. | 0:20:52 | 0:20:55 | |
Their two sons, Dylan and Liam, | 0:20:55 | 0:20:58 | |
are grown up and ready to leave home, so Ali and Rob are | 0:20:58 | 0:21:01 | |
ready for a new adventure. | 0:21:01 | 0:21:02 | |
So, what plans have you got for the bungalow? | 0:21:04 | 0:21:07 | |
-Right... -Well, basically, new kitchen, new bathroom, | 0:21:07 | 0:21:11 | |
but keep the bathroom layout as it is. | 0:21:11 | 0:21:14 | |
Move that wall further this way. | 0:21:14 | 0:21:17 | |
So we create a bedroom at the front here and the living area at the back, | 0:21:17 | 0:21:21 | |
-looking out onto the back. -And we'll convert the back window | 0:21:21 | 0:21:26 | |
to French doors. | 0:21:26 | 0:21:28 | |
Keeping the conservatory? | 0:21:28 | 0:21:29 | |
Yes, keep the conservatory there. | 0:21:29 | 0:21:31 | |
But attached to the living room rather than a bedroom? | 0:21:31 | 0:21:34 | |
That's right, yes. | 0:21:34 | 0:21:36 | |
And the idea of moving rooms around and walls and all that stuff, | 0:21:36 | 0:21:40 | |
suddenly takes it into a slightly different league, doesn't it? | 0:21:40 | 0:21:44 | |
-It does. -These are only stud walls, | 0:21:44 | 0:21:46 | |
so they are easy to take down and just move along a bit. | 0:21:46 | 0:21:49 | |
-Right. -It's nothing too drastic. | 0:21:49 | 0:21:52 | |
He says! | 0:21:52 | 0:21:53 | |
As well as travelling from Edinburgh to do some of the work themselves, | 0:21:55 | 0:21:59 | |
they are also getting help from Rob's family, who live locally in Stoke. | 0:21:59 | 0:22:03 | |
His cousin is an electrician, so can make sure moving any wiring within | 0:22:03 | 0:22:08 | |
that wall is done safely. | 0:22:08 | 0:22:09 | |
However, they did get a bit of a shock after purchasing the property, | 0:22:11 | 0:22:14 | |
as they'd only viewed it from the outside, | 0:22:14 | 0:22:17 | |
so they didn't know about that, erm, odd room in the attic. | 0:22:17 | 0:22:20 | |
You'd think Ali would know better than judge a book by its cover. | 0:22:22 | 0:22:26 | |
So what are you going to do about that? | 0:22:28 | 0:22:30 | |
The apex isn't high enough to meet regs for conversion into a dormer, | 0:22:30 | 0:22:34 | |
so we'll just take that room down and leave it as a floored attic. | 0:22:34 | 0:22:40 | |
-Right. -Good storage up there. | 0:22:40 | 0:22:41 | |
Definitely. So what's the budget for your works? | 0:22:41 | 0:22:45 | |
Right... We're probably looking at about... | 0:22:45 | 0:22:49 | |
We said eight, didn't we? | 0:22:49 | 0:22:51 | |
Eight grand with maybe a couple of grand contingency there, hopefully. | 0:22:51 | 0:22:55 | |
There's a little bit of wiggle room there. | 0:22:55 | 0:22:59 | |
What's the timescale for what you're doing on this place? | 0:22:59 | 0:23:02 | |
Well, because we may be working between the two at certain times, | 0:23:02 | 0:23:07 | |
we've given ourselves about four to six months, really, realistically, | 0:23:07 | 0:23:12 | |
especially with having to do the travel from Edinburgh at times. | 0:23:12 | 0:23:15 | |
It just takes the pressure off, I think, | 0:23:15 | 0:23:18 | |
to give ourselves a big enough window. | 0:23:18 | 0:23:22 | |
Will you do more after this or is it from these two into your dream rural | 0:23:22 | 0:23:26 | |
-business? -We'd like to do a few more, wouldn't we? | 0:23:26 | 0:23:29 | |
Perhaps do this for a couple of years, if we can. | 0:23:29 | 0:23:31 | |
We'll see what others come up at the auctions along the way, yes. | 0:23:31 | 0:23:36 | |
Well, congratulations. | 0:23:36 | 0:23:38 | |
-Thank you very much. -Good luck with it. | 0:23:38 | 0:23:40 | |
-Thank you. -We'll come back to see how you get on. -Thank you. | 0:23:40 | 0:23:43 | |
Well, Ali and Rob really jumping in with both feet, buying two | 0:23:43 | 0:23:48 | |
properties at the same auction, ha! | 0:23:48 | 0:23:50 | |
Well, for novices, that is certainly an adventurous way to go. | 0:23:50 | 0:23:54 | |
And although there's not too much work to do to sort this place out, | 0:23:54 | 0:23:58 | |
it could be a bit of a steep learning curve. | 0:23:58 | 0:24:00 | |
You can find out how they get on later in the show. | 0:24:00 | 0:24:03 | |
Coming up - I'm rattling around a mid-terrace in Sutton. | 0:24:05 | 0:24:09 | |
This is what it sounds like. | 0:24:09 | 0:24:11 | |
RATTLING | 0:24:11 | 0:24:13 | |
And find out if Ali and Rob were left rattled by their first property | 0:24:15 | 0:24:20 | |
-renovation. -I think future projects will hopefully be easier. | 0:24:20 | 0:24:24 | |
Back now to the cathedral city of Lichfield in Staffordshire, | 0:24:27 | 0:24:32 | |
where I was praying to see some lovely character features in this | 0:24:32 | 0:24:36 | |
quirky cottage in a conservation area. | 0:24:36 | 0:24:39 | |
But sadly... I won't lie, I'm a wee bit disappointed. | 0:24:39 | 0:24:43 | |
An awful lot of character features have been taken out. | 0:24:43 | 0:24:46 | |
So, look at that fireplace - | 0:24:46 | 0:24:48 | |
it's really modern and, obviously, an original was there at some stage. | 0:24:48 | 0:24:52 | |
And really new windows, not terribly in keeping with the property. | 0:24:52 | 0:24:55 | |
You do have an original beam on the roof. | 0:24:55 | 0:24:58 | |
Thankfully, all was not lost. | 0:24:58 | 0:25:00 | |
There were some modern additions that were welcome. | 0:25:02 | 0:25:05 | |
A relatively new boiler and a loft conversion with a | 0:25:07 | 0:25:12 | |
bijou third bedroom that had a charm of its own. | 0:25:12 | 0:25:14 | |
However it was not the remaining charm that enticed the person who | 0:25:15 | 0:25:19 | |
bought the cottage into paying £130,000 for it at auction - | 0:25:19 | 0:25:23 | |
because Scott, well, he bought it blind. | 0:25:23 | 0:25:27 | |
He'd just formed a property development company with his two friends. | 0:25:27 | 0:25:31 | |
Thankfully they weren't likely to be too alarmed, as they all had a | 0:25:31 | 0:25:34 | |
construction background. | 0:25:34 | 0:25:36 | |
Thank goodness. | 0:25:36 | 0:25:38 | |
They were planning for a modern, | 0:25:38 | 0:25:40 | |
open-plan vibe but there was good news on the period feature front. | 0:25:40 | 0:25:44 | |
I've got plans to put back in some of the original features that it's | 0:25:46 | 0:25:50 | |
-lost over the years. -Oh, you do? -Yeah. | 0:25:50 | 0:25:51 | |
-Like what? -Wrought-iron fireplaces, that sort of thing. | 0:25:51 | 0:25:55 | |
But also having a modern twist in areas as well. | 0:25:55 | 0:25:58 | |
I'm so happy to hear that. | 0:25:58 | 0:25:59 | |
Thank you. | 0:25:59 | 0:26:01 | |
Well, don't pat yourself on the back too quickly there, Scott, | 0:26:01 | 0:26:04 | |
because, as they say, the proof is in the pudding. | 0:26:04 | 0:26:07 | |
Armed with £20,000 and a timescale of six to eight weeks to turn the | 0:26:07 | 0:26:11 | |
house around, did Scott manage to bring out the character | 0:26:11 | 0:26:14 | |
in this cute cottage? | 0:26:14 | 0:26:16 | |
Using specialist paint suitable for UPVC, | 0:26:20 | 0:26:23 | |
the windows have been transformed. | 0:26:23 | 0:26:25 | |
So, what about inside? | 0:26:27 | 0:26:29 | |
It's certainly got character | 0:26:34 | 0:26:36 | |
but also with a nice contemporary touch, too. | 0:26:36 | 0:26:39 | |
Removing the wall between the kitchen and the lounge, with the | 0:26:39 | 0:26:42 | |
addition of a steel beam to support the weight from above, | 0:26:42 | 0:26:45 | |
has produced a modern, open-plan living area. | 0:26:45 | 0:26:49 | |
It's retained period features like the beams and also added | 0:26:49 | 0:26:52 | |
character features, like exposed brick and a log-burner. | 0:26:52 | 0:26:56 | |
On the first floor, | 0:26:58 | 0:26:59 | |
the bathroom has been reconfigured and the bath moved to the back wall, | 0:26:59 | 0:27:03 | |
giving more usable space. | 0:27:03 | 0:27:05 | |
The floor tiles and radiator also add some period charm to a very | 0:27:05 | 0:27:10 | |
modern room. | 0:27:10 | 0:27:12 | |
In the master bedroom, | 0:27:12 | 0:27:14 | |
Scott has indeed put original-style features back in. | 0:27:14 | 0:27:17 | |
This reclaimed cast-iron fireplace is charming. | 0:27:17 | 0:27:21 | |
The rest of the house has been finished to a very high standard. | 0:27:21 | 0:27:24 | |
It's been fully replastered and rewired, as well as having new | 0:27:24 | 0:27:28 | |
skirting and doors fitted. | 0:27:28 | 0:27:30 | |
Up to the top floor - the old cupboards have gone, | 0:27:34 | 0:27:38 | |
giving this eaves bedroom a little more usable space. | 0:27:38 | 0:27:41 | |
Outside, there is a new flagstone patio, | 0:27:44 | 0:27:46 | |
from which you can take in the view of that three-spire cathedral. | 0:27:46 | 0:27:50 | |
Overall, I would say that Scott has kept to his word by bringing back | 0:27:56 | 0:28:00 | |
the character to this cottage. | 0:28:00 | 0:28:02 | |
The property obviously is an old property. | 0:28:04 | 0:28:07 | |
Originally, it would have had a lot of original features. | 0:28:07 | 0:28:10 | |
A lot of that had been stripped out over the years, | 0:28:10 | 0:28:12 | |
but what we wanted to do was bring back that character feel and install | 0:28:12 | 0:28:15 | |
some original features. | 0:28:15 | 0:28:17 | |
We have done that by relieving some brickwork internally and also | 0:28:17 | 0:28:21 | |
putting a log-burner in, original beams back in, | 0:28:21 | 0:28:25 | |
so it brings the character back up, we feel, and produces a nice, | 0:28:25 | 0:28:30 | |
original feel to the house. | 0:28:30 | 0:28:32 | |
I absolutely love it! | 0:28:33 | 0:28:35 | |
It has really brought out the charm of this cottage. | 0:28:35 | 0:28:37 | |
The high-end finish is testament to the talent of the three business | 0:28:37 | 0:28:40 | |
partners and their team. | 0:28:40 | 0:28:43 | |
The project ran pretty smoothly. | 0:28:44 | 0:28:46 | |
We have all our own in-house guys, | 0:28:46 | 0:28:49 | |
so everybody is highly skilled and know what they are doing. | 0:28:49 | 0:28:52 | |
As with any project like this, | 0:28:52 | 0:28:55 | |
it is pretty much the logistics and the bringing together of all the | 0:28:55 | 0:28:58 | |
trades at the right time, but the project went pretty smoothly. | 0:28:58 | 0:29:01 | |
We finished on our deadline, which was eight weeks. | 0:29:01 | 0:29:04 | |
We did have to pull a couple of trades in that weren't our usual guys | 0:29:04 | 0:29:07 | |
because we were busy elsewhere, which sometimes has its own problems, | 0:29:07 | 0:29:11 | |
but the job pretty much ran very smoothly, yeah. | 0:29:11 | 0:29:14 | |
It may have been on schedule, | 0:29:16 | 0:29:17 | |
but this transformation can't have been cheap. | 0:29:17 | 0:29:20 | |
It certainly looks as though this renovation might have cost more than | 0:29:20 | 0:29:23 | |
their initial 20-grand budget. | 0:29:23 | 0:29:25 | |
We did go up on the budget. | 0:29:27 | 0:29:28 | |
We decided, | 0:29:28 | 0:29:30 | |
due to the area, it deserved a bit more investment into the property. | 0:29:30 | 0:29:35 | |
We actually doubled the spend, £40,000, | 0:29:35 | 0:29:38 | |
but that is including everything, labour, materials, any fees. | 0:29:38 | 0:29:43 | |
The extra spend has taken the total here to £170,000. | 0:29:43 | 0:29:50 | |
Time to see if two local estate agents think it is money well spent. | 0:29:50 | 0:29:54 | |
First, let's hear from the estate agent who saw it the last time. | 0:29:54 | 0:29:58 | |
I think the overall standard of the finish is very, very good. | 0:29:58 | 0:30:01 | |
They have done considerable works downstairs | 0:30:01 | 0:30:04 | |
to create one living space, | 0:30:04 | 0:30:07 | |
which I think is a bit detrimental to the property, | 0:30:07 | 0:30:10 | |
as it would not suit a family too well. | 0:30:10 | 0:30:13 | |
My first impressions of the property are that it has been done to an | 0:30:13 | 0:30:16 | |
extremely high standard throughout. | 0:30:16 | 0:30:18 | |
The kitchen and bathrooms are particularly high standard, | 0:30:18 | 0:30:21 | |
and he has kept the character throughout the property, | 0:30:21 | 0:30:24 | |
which is a really good selling point in a city like Lichfield, | 0:30:24 | 0:30:27 | |
where these kinds of properties are in high demand. | 0:30:27 | 0:30:30 | |
A bit of a mixed bag there, then. | 0:30:30 | 0:30:33 | |
Will the sales figures be as varied for this house that cost Scott and | 0:30:33 | 0:30:37 | |
his business partners £170,000? | 0:30:37 | 0:30:41 | |
If this was to be on the open market, | 0:30:41 | 0:30:44 | |
I would put it on the market somewhere between £200,000 and £225,000. | 0:30:44 | 0:30:48 | |
The current valuation I would give for this property would be between | 0:30:48 | 0:30:52 | |
£240,000 and £260,000. | 0:30:52 | 0:30:55 | |
Yes, we have had a few valuations ourselves. | 0:30:55 | 0:30:57 | |
We have had up of 250. | 0:30:59 | 0:31:02 | |
We decided to put it on at 250 for a quick sale, | 0:31:02 | 0:31:06 | |
but, yeah, £225 seems a little bit low, but, you know, | 0:31:06 | 0:31:10 | |
we will see what we get for it in the end. | 0:31:10 | 0:31:12 | |
That figure of £250,000 gives Scott and his team a profit of £80,000, | 0:31:14 | 0:31:19 | |
minus fees and tax, so what's next? | 0:31:19 | 0:31:23 | |
It's tied up a bit of money, so hopefully it sells quick, | 0:31:23 | 0:31:26 | |
so we can release that money and go on to the next project. | 0:31:26 | 0:31:28 | |
And the good news is that, since filming, | 0:31:28 | 0:31:31 | |
Scott has sold it for that asking price - subject to contract. | 0:31:31 | 0:31:34 | |
Good job! | 0:31:34 | 0:31:35 | |
The London Borough of Sutton sits south-west of the capital, | 0:31:42 | 0:31:46 | |
and it has got a lot going for it - Tube, overland train | 0:31:46 | 0:31:49 | |
and extensive road networks. | 0:31:49 | 0:31:52 | |
So, travel certainly is not an issue, | 0:31:52 | 0:31:55 | |
but there are plenty of amenities right here on your doorstep. | 0:31:55 | 0:31:58 | |
We are 15 minutes away from the centre of Sutton, | 0:31:59 | 0:32:02 | |
along this very pretty and quiet street. | 0:32:02 | 0:32:05 | |
Now, the property I am here to see is a two-bed mid-terrace house with | 0:32:05 | 0:32:09 | |
a guide price of £240,000 plus. | 0:32:09 | 0:32:12 | |
It is this beauty. | 0:32:12 | 0:32:14 | |
And I am going to have a look inside. | 0:32:14 | 0:32:16 | |
Wish me luck. | 0:32:16 | 0:32:17 | |
Right, as soon as you come in, there are bags everywhere, | 0:32:19 | 0:32:23 | |
but look at this wood panelling here. | 0:32:23 | 0:32:26 | |
Very old-fashioned wood panelling, | 0:32:26 | 0:32:28 | |
and this wallpaper takes me back a long, long way to Leicester. | 0:32:28 | 0:32:33 | |
Old-fashioned wallpaper, but it's not any more, is it? | 0:32:33 | 0:32:36 | |
That is kind of retro and kind of cool. | 0:32:36 | 0:32:38 | |
I do like the wallpaper, I've got to say. | 0:32:38 | 0:32:40 | |
What have we got in here? We have got the first reception room with | 0:32:40 | 0:32:44 | |
gas fire. Nice big window, though, | 0:32:44 | 0:32:46 | |
and a sofa that you would want to get rid of as well. | 0:32:46 | 0:32:49 | |
I think you'd have to clear all this out of here before you can even see | 0:32:49 | 0:32:52 | |
what you have got. Stairs going up to the bedrooms, | 0:32:52 | 0:32:55 | |
second reception room is just there. | 0:32:55 | 0:32:58 | |
And it is not a bad-sized room at all. | 0:32:58 | 0:33:02 | |
Again, it is just full of stuff. | 0:33:02 | 0:33:04 | |
Got a window out to the back garden. | 0:33:04 | 0:33:06 | |
Further down the hallway, if you follow me down here, | 0:33:06 | 0:33:09 | |
we have got the dining room. | 0:33:09 | 0:33:11 | |
Follow me here, | 0:33:13 | 0:33:15 | |
but the ceiling is actually coming in. | 0:33:15 | 0:33:18 | |
There is no support in that corner for the ceiling whatsoever. | 0:33:18 | 0:33:23 | |
I don't really want to go any further that way. | 0:33:23 | 0:33:26 | |
What I do know is, the kitchen is just through there. | 0:33:26 | 0:33:29 | |
It is just full of stuff, the wallpaper is coming off the walls. | 0:33:29 | 0:33:34 | |
There are holes everywhere in the ceiling. | 0:33:34 | 0:33:37 | |
All this rubble, rubbish, mess | 0:33:37 | 0:33:40 | |
will have to come out before you can actually see exactly what you are | 0:33:40 | 0:33:43 | |
dealing with. | 0:33:43 | 0:33:45 | |
Before moving a thing, though, you need to do a safety check. | 0:33:45 | 0:33:49 | |
We haven't taken any risks here, | 0:33:49 | 0:33:51 | |
and neither should anyone buying this place. | 0:33:51 | 0:33:54 | |
Get a builder in to see if you need to put in supports to hold up the roof, | 0:33:54 | 0:33:58 | |
and I would get the floor checked as well, if you have got any chance of | 0:33:58 | 0:34:01 | |
saving this place. | 0:34:01 | 0:34:02 | |
# So rescue me | 0:34:04 | 0:34:11 | |
# So rescue me... # | 0:34:12 | 0:34:19 | |
Right, upstairs, and it is really dark and dingy up here. | 0:34:21 | 0:34:25 | |
On the landing, look, it is just all falling away. | 0:34:27 | 0:34:29 | |
It's a bit of a mess. | 0:34:29 | 0:34:32 | |
Now, here is your family bathroom, | 0:34:32 | 0:34:35 | |
and just beyond the family bathroom is another door that gives you the | 0:34:35 | 0:34:38 | |
toilet. I do not want to go in there because, | 0:34:38 | 0:34:41 | |
just below the taps to the bath is where there is no support on the | 0:34:41 | 0:34:45 | |
ceiling or that floor, so I am not going to go in there at all. | 0:34:45 | 0:34:50 | |
I could find myself in the dining room. | 0:34:50 | 0:34:53 | |
Up a couple of steps, along the landing, | 0:34:53 | 0:34:55 | |
more retro wallpaper, this is the first | 0:34:55 | 0:34:59 | |
of the two bedrooms. | 0:34:59 | 0:35:02 | |
Now, as I look in here, full of stuff again, | 0:35:02 | 0:35:04 | |
you have got a window looking out onto the back garden. | 0:35:04 | 0:35:08 | |
It is not a bad size, you could get a double bed in there no problem at | 0:35:08 | 0:35:10 | |
all. But it has been left for so long, | 0:35:10 | 0:35:13 | |
even the polystyrene tiles are falling off the ceiling. | 0:35:13 | 0:35:17 | |
And into the main bedroom, another double bedroom. | 0:35:17 | 0:35:20 | |
Again, full of stuff, but look at this ceiling. | 0:35:20 | 0:35:23 | |
Now, is that cool nowadays? | 0:35:23 | 0:35:25 | |
Is it retro? Or is the paint just peeling off the ceiling? | 0:35:25 | 0:35:29 | |
I think it's the latter. | 0:35:29 | 0:35:31 | |
I think you actually call them stalactites. | 0:35:31 | 0:35:34 | |
Anyway, this is a good-sized bedroom. | 0:35:34 | 0:35:35 | |
There is a lot of mess and rubble in here, | 0:35:35 | 0:35:38 | |
but look at this I have spotted. This is an old-fashioned rattle. | 0:35:38 | 0:35:42 | |
This is what it sounds like. | 0:35:42 | 0:35:44 | |
RATTLING | 0:35:44 | 0:35:47 | |
Very, very noisy! | 0:35:47 | 0:35:49 | |
Right, where do you start with this house? | 0:35:51 | 0:35:54 | |
Clear it out, start again, see what you have got. | 0:35:54 | 0:35:56 | |
The state of this place is enough to rattle anybody, | 0:35:58 | 0:36:01 | |
but this is the kind of house that you do have to look beyond the mess. | 0:36:01 | 0:36:04 | |
# You're really lovely underneath it all | 0:36:06 | 0:36:13 | |
# Do you want to love me underneath it all? # | 0:36:13 | 0:36:18 | |
The upstairs bathroom is good news, | 0:36:20 | 0:36:23 | |
but the fact there is only two bedrooms is not so great. | 0:36:23 | 0:36:25 | |
There could be a solution to that. | 0:36:28 | 0:36:29 | |
Right, if you are looking to create a third bedroom, | 0:36:31 | 0:36:35 | |
that could be the way to go. | 0:36:35 | 0:36:37 | |
Now, check with your local authority to see if you need planning, | 0:36:37 | 0:36:41 | |
but it should fall within permitted development. | 0:36:41 | 0:36:44 | |
So it is worth investigating. | 0:36:44 | 0:36:46 | |
I don't really want to go up there and investigate any further. | 0:36:46 | 0:36:51 | |
I have to admit, this house does frighten me, it needs so much work doing. | 0:36:51 | 0:36:56 | |
# Big scary place | 0:36:56 | 0:36:59 | |
# Big scary place... # | 0:36:59 | 0:37:01 | |
The alternative to up is possibly out. | 0:37:01 | 0:37:04 | |
There is room at the back, but to create an extra bedroom, | 0:37:04 | 0:37:07 | |
you would need a two-storey extension, | 0:37:07 | 0:37:09 | |
which would be expensive and time-consuming. | 0:37:09 | 0:37:12 | |
So, I would look up for the extra space. | 0:37:12 | 0:37:14 | |
What does a local estate agent think? | 0:37:15 | 0:37:18 | |
How many bedrooms should this house have to meet local market needs? | 0:37:18 | 0:37:22 | |
A minimum of three or four bedrooms, I mean, three, certainly. | 0:37:22 | 0:37:25 | |
But when you extend the property into a four-bedroom, | 0:37:25 | 0:37:28 | |
then obviously people are looking for more downstairs space as well. | 0:37:28 | 0:37:32 | |
Expanding the size, on top of all the remedial work, | 0:37:32 | 0:37:36 | |
I am now getting really scared of this house! | 0:37:36 | 0:37:39 | |
The guide price was 240 grand plus. | 0:37:39 | 0:37:41 | |
Could the potential resale values make me less petrified? | 0:37:41 | 0:37:44 | |
As a two-bedroom, it could sell for £370,000 to £385,000. | 0:37:45 | 0:37:50 | |
If you were to extend into the loft, gaining just a bedroom, | 0:37:50 | 0:37:52 | |
you would be looking at | 0:37:52 | 0:37:55 | |
£380,000 to £395,000. | 0:37:55 | 0:37:57 | |
If you were to extend on the ground floor, | 0:37:57 | 0:38:00 | |
you may be looking at £400,000 to £415,000. | 0:38:00 | 0:38:04 | |
And how about on the rental market? | 0:38:04 | 0:38:06 | |
As a three-bedroom, you would be looking at a rent of around about | 0:38:08 | 0:38:11 | |
£1,350 to £1,400, and as a four-bedroom you would be looking at | 0:38:11 | 0:38:15 | |
£1,650 to £1,850. | 0:38:15 | 0:38:19 | |
Right, if ever there was a property that needed stripping back and | 0:38:24 | 0:38:28 | |
starting again, that is it. | 0:38:28 | 0:38:30 | |
There is a whole lot of work that needs to be done in there, | 0:38:30 | 0:38:33 | |
starting by cleaning it out. | 0:38:33 | 0:38:35 | |
But if you can see beyond the rubble and the rubbish, | 0:38:35 | 0:38:38 | |
I think there is a really nice family home to be had. | 0:38:38 | 0:38:41 | |
Let's see who agreed when it went under the hammer. | 0:38:41 | 0:38:44 | |
Well, it was in a busy auction room that the two-bed run-down Sutton | 0:38:44 | 0:38:48 | |
-house came up for sale. -Third and last time, sold. | 0:38:48 | 0:38:52 | |
Unfortunately, it was sold out of sight of our cameras for 304 grand. | 0:38:52 | 0:38:58 | |
And the successful bidder was Dan. | 0:38:58 | 0:39:00 | |
I hope he likes a challenge! | 0:39:00 | 0:39:04 | |
Dan, nice to meet you. | 0:39:05 | 0:39:06 | |
-Dion, nice to meet you. -Congratulations, pal. | 0:39:06 | 0:39:08 | |
-Thank you very much. -Right, I am looking around. | 0:39:08 | 0:39:11 | |
Tell me what it was about this house that made you want to buy it. | 0:39:11 | 0:39:14 | |
Probably the wallpaper! | 0:39:14 | 0:39:16 | |
DION LAUGHS | 0:39:16 | 0:39:18 | |
Really, the condition of it. | 0:39:18 | 0:39:19 | |
I know it needs a lot of work, I am a builder, | 0:39:19 | 0:39:23 | |
and I know it is in our hands and we can turn it round the way we want it. | 0:39:23 | 0:39:26 | |
-Are you happy with what you paid for it, then? -Not really. | 0:39:26 | 0:39:29 | |
-OK! -To be honest, it went 24 grand over budget. | 0:39:29 | 0:39:33 | |
-The cardinal rule of auctioneering... -Yes, yes... | 0:39:33 | 0:39:35 | |
I was coming to that as well, but you beat me to it, fine, | 0:39:35 | 0:39:38 | |
as long as you know! | 0:39:38 | 0:39:39 | |
When you say we, who is the we? | 0:39:39 | 0:39:42 | |
Myself and three other friends. | 0:39:42 | 0:39:44 | |
OK. Give them a name check, come on, give them a name check. | 0:39:44 | 0:39:47 | |
-Dan, Paul and Sam. -OK, they are all in it together? | 0:39:47 | 0:39:49 | |
Yes, we are all in it together. | 0:39:49 | 0:39:50 | |
None of them viewed it, I was the only one that viewed it. | 0:39:50 | 0:39:53 | |
-OK. -So I am the only one that has seen this, | 0:39:53 | 0:39:56 | |
so they are going on my recommendation that we can turn this around. | 0:39:56 | 0:39:59 | |
So they are going to be surprised when they come in here, like everyone else. | 0:39:59 | 0:40:03 | |
-When they see it. -Yeah. -So will you get them to come in now, | 0:40:03 | 0:40:06 | |
-beforehand... -Oh, yeah! -Make sure they actually see how it is before...? | 0:40:06 | 0:40:09 | |
I could either do that or not let them see it at all, | 0:40:09 | 0:40:11 | |
and then let them see the end product. | 0:40:11 | 0:40:13 | |
Yes, Dan, I think that is the best idea! | 0:40:13 | 0:40:15 | |
Because there is quite a few things here that might scare off any investors. | 0:40:16 | 0:40:22 | |
There is a decent crack in the room next door, | 0:40:22 | 0:40:25 | |
I have seen a hole in the floor, in the ceiling, I have seen damp. | 0:40:25 | 0:40:29 | |
-Yeah, anything else? -Doesn't bother you? | 0:40:29 | 0:40:32 | |
No. So, it is a terraced house, it is between houses. | 0:40:32 | 0:40:35 | |
Structurally, you mentioned a crack, I am not concerned by it. | 0:40:35 | 0:40:38 | |
But, realistically, this house hasn't been touched in probably 60 or 70 years, | 0:40:38 | 0:40:42 | |
so we are going to strip it back to its original side walls, | 0:40:42 | 0:40:46 | |
front walls, wherever the joists are rotten, we will remove. | 0:40:46 | 0:40:51 | |
The back section will be completely reinstated, to bring the structure back. | 0:40:51 | 0:40:55 | |
OK, let's start on the ground floor. | 0:40:55 | 0:40:57 | |
-What are you going to do? -In the middle room, | 0:40:57 | 0:41:00 | |
we are probably going to bring the family bathroom down to the ground floor, | 0:41:00 | 0:41:03 | |
then that in turn will create three bedrooms on the first floor, | 0:41:03 | 0:41:07 | |
and then the loft will be a bedroom with a separate bathroom. | 0:41:07 | 0:41:10 | |
So that will create, at the moment it is a two-bed, | 0:41:10 | 0:41:12 | |
it will actually make it a four-bed. | 0:41:12 | 0:41:14 | |
I have got to say, I do like a family bathroom on the first floor, | 0:41:14 | 0:41:17 | |
-I have got to say. -Yeah, that is where... | 0:41:17 | 0:41:19 | |
But they can either go upstairs or downstairs! | 0:41:19 | 0:41:21 | |
-So they take their pick. -So they are halfway. -Yeah. | 0:41:21 | 0:41:24 | |
OK. What about the kitchen at the back of the property? | 0:41:24 | 0:41:26 | |
-What are you going to do there? -We are going to knock through those walls, | 0:41:26 | 0:41:29 | |
creating one large space. | 0:41:29 | 0:41:31 | |
We are going to have French doors going out to the rear garden, | 0:41:31 | 0:41:34 | |
but there is no extension, | 0:41:34 | 0:41:35 | |
so we are not extending the actual footprint of the original house. | 0:41:35 | 0:41:38 | |
OK. Outside, the Serengeti out the back! | 0:41:38 | 0:41:40 | |
What are you going to do there? | 0:41:40 | 0:41:43 | |
Clear it, put a day room down the back, | 0:41:43 | 0:41:45 | |
which is going to be a kind of outdoor play room. | 0:41:45 | 0:41:48 | |
OK, that's cool. | 0:41:48 | 0:41:50 | |
And then some artificial turf and some decking. | 0:41:50 | 0:41:54 | |
Right, that is a pretty long list. | 0:41:54 | 0:41:56 | |
I would need more fingers, but | 0:41:56 | 0:41:59 | |
for all you are going to do, how much is it going to cost you? | 0:41:59 | 0:42:03 | |
We have budgeted 70 to 75. | 0:42:03 | 0:42:06 | |
OK, and how long is it going to take you? | 0:42:06 | 0:42:09 | |
We want to complete it within 10 or 12 weeks. | 0:42:09 | 0:42:13 | |
-Really? -Well, it is an aggressive schedule, but we want to go at it. | 0:42:13 | 0:42:16 | |
We have got a | 0:42:16 | 0:42:18 | |
-team ready to... -To come in and get on with it? | 0:42:18 | 0:42:21 | |
I can't wait to see it! All the best. | 0:42:21 | 0:42:24 | |
-Thank you. -Good luck, Dan. -Thank you. | 0:42:24 | 0:42:26 | |
Now, there is a man who knows exactly what he is doing, | 0:42:26 | 0:42:29 | |
and he is not afraid of anything this house can throw at him. | 0:42:29 | 0:42:32 | |
Dan is definitely a man with a plan, | 0:42:32 | 0:42:35 | |
but will he get everything done within that aggressive timescale? | 0:42:35 | 0:42:38 | |
You can find out later in the programme. | 0:42:38 | 0:42:40 | |
Well, we have seen how one of our properties turned out, | 0:42:43 | 0:42:45 | |
but what about the other two? | 0:42:45 | 0:42:47 | |
Will it be mission accomplished or a Mission: Impossible? | 0:42:47 | 0:42:50 | |
Yes, wait no longer, let's find out. | 0:42:50 | 0:42:51 | |
We are heading back to Hanley in Stoke, | 0:42:53 | 0:42:56 | |
where I saw a bungalow with a bit of a steep driveway. | 0:42:56 | 0:42:58 | |
And inside, things also went a bit downhill. | 0:43:00 | 0:43:03 | |
The entrance led to a kitchen then a spacious lounge. | 0:43:03 | 0:43:06 | |
So far, so good, | 0:43:06 | 0:43:08 | |
but it was in the master bedroom | 0:43:08 | 0:43:10 | |
that things took a turn for the worse. | 0:43:10 | 0:43:12 | |
Because through this bedroom into... | 0:43:14 | 0:43:17 | |
Look, this little conservatory, what, off a bedroom? | 0:43:18 | 0:43:20 | |
Does that make sense?! | 0:43:20 | 0:43:22 | |
# It don't make no sense... # | 0:43:24 | 0:43:26 | |
A simple and sensible solution seems to be to swap the master | 0:43:26 | 0:43:30 | |
bedroom and the living room around, | 0:43:30 | 0:43:32 | |
which was just the plan first-time property developers Ali and Rob | 0:43:32 | 0:43:37 | |
planned to follow. They spent £88,000 on this bungalow at auction, | 0:43:37 | 0:43:41 | |
but it wasn't the only purchase on the day. | 0:43:41 | 0:43:44 | |
This was in fact house one of two. | 0:43:44 | 0:43:48 | |
Now, the normal course of action would be to maybe try one and | 0:43:50 | 0:43:53 | |
-see how it goes! -Yeah, no, we don't like to make it easy on ourselves! | 0:43:53 | 0:43:57 | |
So, Rob, what do you both do? | 0:43:59 | 0:44:01 | |
Well, I am not doing anything now. | 0:44:01 | 0:44:04 | |
I left me job to come in to the property development. | 0:44:04 | 0:44:07 | |
Oh, great, how exciting. How about you? | 0:44:07 | 0:44:09 | |
Well, I am a writer, so I work from home anyway, | 0:44:09 | 0:44:12 | |
so I shall just work around that. | 0:44:12 | 0:44:14 | |
To add to the drama, although Rob was originally from Stoke, | 0:44:16 | 0:44:20 | |
home for them was just a, oh, five-hour journey north to Edinburgh. | 0:44:20 | 0:44:26 | |
First-time developers with two properties, | 0:44:26 | 0:44:28 | |
potential new careers and long commutes - | 0:44:28 | 0:44:31 | |
this story could be a real page-turner, then. | 0:44:31 | 0:44:35 | |
Let's see how things have gone just over one year later. | 0:44:35 | 0:44:40 | |
# You change your position | 0:44:40 | 0:44:42 | |
# And you're changing me... # | 0:44:42 | 0:44:45 | |
It is all change in here. | 0:44:45 | 0:44:47 | |
The master bedroom is now in the old lounge, | 0:44:47 | 0:44:50 | |
and the dividing wall has been moved back to give more space to the new | 0:44:50 | 0:44:54 | |
living and dining room. | 0:44:54 | 0:44:55 | |
With double doors leading out to the conservatory, this is much better, | 0:44:58 | 0:45:02 | |
but there were still layout issues to sort at the entrance. | 0:45:02 | 0:45:06 | |
# But I've got a plan | 0:45:07 | 0:45:10 | |
# Why don't you be the artist and make me out of clay? | 0:45:10 | 0:45:18 | |
# Why don't you be the writer and decide the words I say? # | 0:45:18 | 0:45:23 | |
I'd say that, by removing the wall at the entrance, | 0:45:25 | 0:45:28 | |
this is a much-improved open space, which has been used by Ali and Rob | 0:45:28 | 0:45:33 | |
as a temporary home whilst they complete the project. | 0:45:33 | 0:45:36 | |
There is not a room in this bungalow which hasn't been reconfigured, | 0:45:44 | 0:45:47 | |
mainly due to the hallway being removed and incorporated into the rooms. | 0:45:47 | 0:45:51 | |
It means that the bedrooms are both accessed from the living room, | 0:45:53 | 0:45:57 | |
but for the extra usable space, I think it is worth it. | 0:45:57 | 0:46:01 | |
And it's not just the inside that has been transformed. | 0:46:01 | 0:46:04 | |
Remember that wild and overgrown garden? | 0:46:04 | 0:46:07 | |
At the front of the house, that steep driveway I remarked on | 0:46:10 | 0:46:14 | |
has been block paved. | 0:46:14 | 0:46:16 | |
I don't have a protractor to hand, | 0:46:16 | 0:46:18 | |
but I have been reliably informed | 0:46:18 | 0:46:20 | |
it is down to a 15-degree angle, from 35. | 0:46:20 | 0:46:23 | |
One thing that was definitely protracted was the amount of time taken to | 0:46:25 | 0:46:29 | |
complete the work, especially as Ali and Rob hoped to have this done in | 0:46:29 | 0:46:32 | |
four to six months. | 0:46:32 | 0:46:34 | |
It ballooned to about eight months for the bulk of the work. | 0:46:37 | 0:46:42 | |
And I had to take about a month off because I got a trapped nerve in my | 0:46:42 | 0:46:46 | |
back while I was doing the flooring in the kitchen. | 0:46:46 | 0:46:50 | |
And then we had a wedding in Chile! | 0:46:50 | 0:46:53 | |
And Christmas! And life just did not wait for us to catch up and finish | 0:46:53 | 0:46:57 | |
-the house. -They certainly have had a busy year. | 0:46:57 | 0:47:00 | |
Ali not only had to help her sons Liam and Dylan | 0:47:00 | 0:47:03 | |
pack for their moves to Chile and Brighton, respectively, | 0:47:03 | 0:47:07 | |
but also pack up their home in Edinburgh. | 0:47:07 | 0:47:10 | |
Ali and Rob wisely decided living in Stoke would help progress both their | 0:47:10 | 0:47:14 | |
renovation projects better. | 0:47:14 | 0:47:16 | |
Now the work is complete on this house, | 0:47:16 | 0:47:19 | |
they are going to relocate again to a rental property. | 0:47:19 | 0:47:22 | |
How have they found handling their new careers in property? | 0:47:22 | 0:47:26 | |
It has just been a really great year, being our own bosses, | 0:47:26 | 0:47:29 | |
and it hasn't put us off doing it again either, so... | 0:47:29 | 0:47:34 | |
No, we've done tiling, bricklaying, that I had never done before, | 0:47:34 | 0:47:39 | |
and obviously the painting. | 0:47:39 | 0:47:41 | |
We are getting better as we are learning. | 0:47:41 | 0:47:44 | |
The couple did get in professionals for the work they couldn't or | 0:47:44 | 0:47:47 | |
shouldn't do themselves, so now they have a team they can rely on. | 0:47:47 | 0:47:51 | |
It is all a steep learning curve, | 0:47:51 | 0:47:53 | |
but I think future projects will hopefully be easier. | 0:47:53 | 0:47:56 | |
The budget, with a contingency, was £10,000. | 0:47:57 | 0:48:01 | |
There has been a steep climb to a spend of £20,000, | 0:48:01 | 0:48:03 | |
which is mainly due to the windows being renewed throughout, | 0:48:03 | 0:48:07 | |
and that monobloc paving. | 0:48:07 | 0:48:09 | |
We asked two local estate agents along to give us their views and | 0:48:09 | 0:48:13 | |
test the new drive. First, the agent who saw it before. | 0:48:13 | 0:48:17 | |
The layout of the property works well. | 0:48:19 | 0:48:21 | |
I think they have done the most they can with the space. | 0:48:21 | 0:48:24 | |
Maybe not ideal that both bedrooms come straight off the living room, | 0:48:24 | 0:48:27 | |
but that is just the best they could do with the current layout. | 0:48:27 | 0:48:32 | |
I am very, very impressed, | 0:48:32 | 0:48:34 | |
both with the standard of the finish and with the bungalow itself. | 0:48:34 | 0:48:38 | |
There are also not a lot of bungalows around, | 0:48:38 | 0:48:40 | |
and certainly not ones done to this standard. | 0:48:40 | 0:48:43 | |
It is an extremely saleable bungalow. | 0:48:43 | 0:48:46 | |
Sounds very positive, | 0:48:46 | 0:48:48 | |
so what kind of sales figures could | 0:48:48 | 0:48:50 | |
Ali and Rob expect for their £108,000 investment? | 0:48:50 | 0:48:54 | |
If I was to sell the property, | 0:48:54 | 0:48:57 | |
I would recommend a figure in the region of £135,000. | 0:48:57 | 0:49:01 | |
I would place this property on the market in the region of £140,000. | 0:49:01 | 0:49:06 | |
We are in a position where we have actually accepted an offer | 0:49:06 | 0:49:09 | |
of £130,000. | 0:49:09 | 0:49:12 | |
We had got another offer coming in at £132,000, | 0:49:12 | 0:49:16 | |
but it was a more complicated chain, | 0:49:16 | 0:49:18 | |
so we have gone with the first offer to see how that works out, | 0:49:18 | 0:49:21 | |
and we have got the other one as back-up, potentially. | 0:49:21 | 0:49:24 | |
There is no chain there, and we are happy with the profit, | 0:49:24 | 0:49:27 | |
so we will probably go ahead with that. | 0:49:27 | 0:49:29 | |
Electing to go for a quick sale will free up £22,000 profit, | 0:49:31 | 0:49:35 | |
minus taxes and fees, of course. | 0:49:35 | 0:49:37 | |
And the capital will allow them to finish the other property they | 0:49:37 | 0:49:40 | |
bought at the same time as this one. | 0:49:40 | 0:49:42 | |
This is a real success for a first project, | 0:49:43 | 0:49:46 | |
so does it mean Ali will be closing the book on her writing career? | 0:49:46 | 0:49:50 | |
This has basically become a full-time job, particularly for Rob, | 0:49:52 | 0:49:56 | |
but also for me. | 0:49:56 | 0:49:58 | |
I have had to put some of my work on the back burner, | 0:49:58 | 0:50:01 | |
although I have been keeping a journal, and I have got plenty of material, | 0:50:01 | 0:50:05 | |
so I will be writing about it at some point in the future. | 0:50:05 | 0:50:10 | |
Well, Ali, we are hanging on for the sequel for this work, | 0:50:10 | 0:50:13 | |
given you have another property to complete. | 0:50:13 | 0:50:16 | |
I have a feeling we will be seeing you on the show again, | 0:50:16 | 0:50:18 | |
with your next edition. | 0:50:18 | 0:50:20 | |
Back to the London Borough of Sutton now, | 0:50:25 | 0:50:28 | |
where I saw a two-bed mid-terrace house that was pretty scary, | 0:50:28 | 0:50:32 | |
and it was not just about clearing out the stuff or the renovations | 0:50:32 | 0:50:35 | |
that made me nervous. The ceiling is actually coming in, | 0:50:35 | 0:50:39 | |
there is no support in that corner for the ceiling whatsoever. | 0:50:39 | 0:50:43 | |
I don't really want to go any further that way. | 0:50:43 | 0:50:46 | |
What I do know is, the kitchen is just through there. | 0:50:46 | 0:50:49 | |
Above that small kitchen was the bathroom and toilet. | 0:50:52 | 0:50:55 | |
There was a lot more structural damage visible here, too. | 0:50:55 | 0:50:58 | |
This entire house needed to be looked at by a professional. | 0:51:00 | 0:51:03 | |
Good thing, then, the person that spent £304,000 for this at auction | 0:51:04 | 0:51:08 | |
was Dan, because he is a builder. | 0:51:08 | 0:51:10 | |
He and three friends formed a company to develop property, | 0:51:13 | 0:51:17 | |
and they must have had a lot of faith in Dan, because... | 0:51:17 | 0:51:20 | |
I was the only one that viewed it. | 0:51:21 | 0:51:22 | |
-OK! -So I am the only one that has seen this, | 0:51:22 | 0:51:25 | |
so they are going on my recommendation that we can turn this around. | 0:51:25 | 0:51:29 | |
So they are going to be surprised when they come in here, like everyone else. | 0:51:29 | 0:51:32 | |
-When they see it. -Yeah. -So, will you get them to come in now... | 0:51:32 | 0:51:36 | |
-Oh, yes! -..and make sure they actually see how it is before...? | 0:51:36 | 0:51:38 | |
I could either do that or not let them see it and then let them see | 0:51:38 | 0:51:41 | |
the end product. | 0:51:41 | 0:51:43 | |
Between the damp, the cracks, holes and collapsing walls, | 0:51:43 | 0:51:47 | |
floors, and ceilings, I thought option two might be best. | 0:51:47 | 0:51:51 | |
But none of this fazed Dan in the least. | 0:51:51 | 0:51:54 | |
He planned to take this building back to brick and then change it | 0:51:54 | 0:51:57 | |
from a two-bedroom into a profitable four-bed house. | 0:51:57 | 0:52:01 | |
They had a timescale he described as aggressive - 10 to 12 weeks. | 0:52:01 | 0:52:05 | |
14 weeks later, and we are back. | 0:52:05 | 0:52:07 | |
Outside, there is a big improvement, with new double-glazed sash windows, | 0:52:10 | 0:52:15 | |
but I think now we should take a look... | 0:52:15 | 0:52:19 | |
# Inside | 0:52:19 | 0:52:22 | |
# Hey! # | 0:52:22 | 0:52:24 | |
No, that's not an extension. | 0:52:29 | 0:52:31 | |
Everything you see here is within the same footprint as before. | 0:52:31 | 0:52:35 | |
The difference is mind-blowing! | 0:52:35 | 0:52:37 | |
# Guaranteed I can blow your mind, mwah | 0:52:37 | 0:52:40 | |
# And tonight I'm alive, ain't a dollar sign | 0:52:40 | 0:52:42 | |
# Guaranteed I can blow your mind, mwah | 0:52:42 | 0:52:45 | |
# And tonight I'm alive, ain't a dollar sign | 0:52:45 | 0:52:47 | |
# Guaranteed I can blow your mind, mwah... # | 0:52:47 | 0:52:49 | |
I was bang on about removing walls, | 0:52:49 | 0:52:52 | |
but I think the results back that up. | 0:52:52 | 0:52:54 | |
Although the original plan was to have a bathroom down here, instead, | 0:52:56 | 0:53:00 | |
there is a small utility and toilet. | 0:53:00 | 0:53:03 | |
That is because Dan and his friends have changed their minds, | 0:53:03 | 0:53:06 | |
as they think a family bathroom on the first floor is more important | 0:53:06 | 0:53:09 | |
when selling. | 0:53:09 | 0:53:11 | |
I have to agree. Let's see what is going on upstairs. | 0:53:11 | 0:53:15 | |
Removing the chimney breast and the wall has made this a proper | 0:53:23 | 0:53:26 | |
family bathroom. | 0:53:26 | 0:53:28 | |
Hold on stalactite to see the changes in the bedrooms. | 0:53:28 | 0:53:31 | |
But it's not the last room we have to see. | 0:53:38 | 0:53:40 | |
Dan took it up a notch, with a loft conversion, | 0:53:42 | 0:53:45 | |
and created a double-apex double bedroom with a little extra... | 0:53:45 | 0:53:48 | |
An en-suite shower room, which means there is a toilet on every floor. | 0:53:56 | 0:54:00 | |
Last, but certainly not least, the garden has had a full makeover. | 0:54:01 | 0:54:06 | |
Dan and his team have done a brilliant job. | 0:54:06 | 0:54:09 | |
This house has undergone an immense change. | 0:54:09 | 0:54:12 | |
When we came into the property, | 0:54:14 | 0:54:15 | |
a lot of it was masked by the clutter that was in here. | 0:54:15 | 0:54:18 | |
As soon as we cleared the house, | 0:54:18 | 0:54:21 | |
we found the cracks that were there | 0:54:21 | 0:54:23 | |
were coming from internal brick walls, | 0:54:23 | 0:54:26 | |
so once we identified and we pulled away the old carpet, | 0:54:26 | 0:54:29 | |
we could see that a lot of the internal structural walls were built | 0:54:29 | 0:54:32 | |
on floorboards. | 0:54:32 | 0:54:34 | |
So this has caused, obviously, subsidence within the internal walls, | 0:54:34 | 0:54:37 | |
so in turn we took those down and reformed them up in stud walls. | 0:54:37 | 0:54:42 | |
It was quite an extreme job in regards structural wise. | 0:54:42 | 0:54:47 | |
There was a lot of steels, | 0:54:47 | 0:54:49 | |
not only for the loft conversions but to create the openings that we | 0:54:49 | 0:54:52 | |
have made downstairs. And we have given strength back to the house. | 0:54:52 | 0:54:56 | |
It has been hard. | 0:54:56 | 0:54:57 | |
There have been some late nights, some early mornings. | 0:54:57 | 0:55:00 | |
The team worked very hard. | 0:55:00 | 0:55:02 | |
I think they are due a nice break now. | 0:55:02 | 0:55:04 | |
Dan managed to do the work here within his estimated 10- to 12-week | 0:55:04 | 0:55:08 | |
timescale, so that is good news to report to his three friends, | 0:55:08 | 0:55:11 | |
who co-invested in this project without seeing the house. | 0:55:11 | 0:55:14 | |
They have kind of left me to it. They have been involved, | 0:55:14 | 0:55:17 | |
they have been obviously visiting, | 0:55:17 | 0:55:19 | |
I have been keeping them up to date with progress, pictures... | 0:55:19 | 0:55:24 | |
We have not really had any complications other than the structural work and | 0:55:24 | 0:55:28 | |
the added amount of skips we have required, | 0:55:28 | 0:55:32 | |
so we went from possibly using 5 to 12, | 0:55:32 | 0:55:36 | |
so that is obviously a big cost for us, | 0:55:36 | 0:55:39 | |
but it is not only the cost of the skip, | 0:55:39 | 0:55:41 | |
it is also the cost of loading the skip, so it is kind of... | 0:55:41 | 0:55:44 | |
That is where the budget wasn't really where it should have been. | 0:55:44 | 0:55:48 | |
The extra skip costs put Dan over his maximum budget of £75,000 by | 0:55:48 | 0:55:53 | |
£3,000, bringing his total spend here to £382,000, | 0:55:53 | 0:55:58 | |
but has it all been worth it? | 0:55:58 | 0:56:01 | |
I think it was... | 0:56:01 | 0:56:03 | |
a lot to take on at the start, for our first project, | 0:56:03 | 0:56:06 | |
but I think the finish now has made it all worthwhile. | 0:56:06 | 0:56:08 | |
Well, time to see if two local property experts agree, | 0:56:10 | 0:56:13 | |
because we have asked them along to give us their thoughts on the | 0:56:13 | 0:56:17 | |
changes here. First, let's hear from the agent who saw it before. | 0:56:17 | 0:56:20 | |
Fantastic. I mean, it is a complete transformation from before. | 0:56:20 | 0:56:25 | |
Really light and airy, a lot of good modern touches to it as well. | 0:56:25 | 0:56:28 | |
Fantastic transformation. | 0:56:28 | 0:56:30 | |
Having had a look round the property, | 0:56:30 | 0:56:32 | |
I believe the quality of finishes are very good. | 0:56:32 | 0:56:34 | |
The room sizes are fantastic, | 0:56:34 | 0:56:36 | |
and there is also an outhouse as well, which gives that extra | 0:56:36 | 0:56:39 | |
little space for the new owners. | 0:56:39 | 0:56:41 | |
The demand in the area at the moment is strong, | 0:56:41 | 0:56:44 | |
so Dan and his friends are looking for a quick sale. | 0:56:44 | 0:56:47 | |
What could they hope to sell this for? | 0:56:47 | 0:56:50 | |
The property could sell for in the region of £525,000. | 0:56:50 | 0:56:53 | |
I believe this property would sell for anywhere between | 0:56:53 | 0:56:57 | |
£520,000 to £545,000. | 0:56:57 | 0:56:59 | |
We budgeted for 500, | 0:56:59 | 0:57:01 | |
so anything north of that has been a real good achievement, | 0:57:01 | 0:57:04 | |
so happy with it. | 0:57:04 | 0:57:06 | |
In fact, Dan has now sold the house for £530,000, | 0:57:06 | 0:57:11 | |
so they have made 148 grand profit, before taxes and fees, of course. | 0:57:11 | 0:57:16 | |
That is an amazing result, so how about Dan's three friends? | 0:57:16 | 0:57:20 | |
Are they chuffed with the project AND his hard work? | 0:57:20 | 0:57:23 | |
They are happy, so I have kept them up to date with pictures. | 0:57:25 | 0:57:29 | |
They haven't actually seen it all cleaned out from building materials, | 0:57:29 | 0:57:34 | |
so we are going to have kind of a topping-out party here, hopefully, | 0:57:34 | 0:57:39 | |
any time soon, just so, really, they can see the end product. | 0:57:39 | 0:57:43 | |
Different properties have different issues, | 0:57:46 | 0:57:48 | |
and the trick is to find a way to solve the problem without blowing | 0:57:48 | 0:57:51 | |
your budget and to do it quickly. | 0:57:51 | 0:57:53 | |
Yes, problem-solving can be the biggest asset when you are into the | 0:57:53 | 0:57:56 | |
-property world. -Mm, yes, so we will be solving more problems... | 0:57:56 | 0:58:00 | |
HE COUGHS | 0:58:00 | 0:58:02 | |
..or not, here on Homes Under The Hammer for you next time. | 0:58:02 | 0:58:05 | |
-Bye-bye. -Bye-bye. -Bye-bye. | 0:58:05 | 0:58:06 |