0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:05Now, if you're entering into the world of property,
0:00:05 > 0:00:08it can seem a bit of a daunting prospect.
0:00:08 > 0:00:10But you know what? Just do your research,
0:00:10 > 0:00:13pick a property that's right for you, and you'll be fine.
0:00:13 > 0:00:16Yeah, and there's one place you might find that perfect purchase -
0:00:16 > 0:00:18at your local auction.
0:00:18 > 0:00:19So, what are you waiting for?
0:00:44 > 0:00:47There are so many different properties up for auction,
0:00:47 > 0:00:50but don't be swayed by all the choice.
0:00:50 > 0:00:52You stick to your guns and get the one that you want.
0:00:52 > 0:00:56Yes, there is certainly lots of choice.
0:00:56 > 0:00:59So, what inspired the buyers on today's programme?
0:01:01 > 0:01:04I find a solid two-bedroom semi in Chesterton, Staffordshire.
0:01:04 > 0:01:07But I still haven't found the toilet as yet...
0:01:07 > 0:01:09- MULTIPLE VOICES:- Behind you!- Sorry?
0:01:11 > 0:01:14Is it curtains for this bungalow in the London Borough of Havering?
0:01:14 > 0:01:19If this were a pantomime, I think this would be the villain.
0:01:19 > 0:01:21Boo!
0:01:21 > 0:01:24In Monmouthshire, this mid-terrace has me puzzled.
0:01:24 > 0:01:26Oh, yes, it has.
0:01:26 > 0:01:29What's that all about? What a strange little room that is,
0:01:29 > 0:01:31long and thin.
0:01:31 > 0:01:35- 68...- All these properties have been sold at auction.
0:01:35 > 0:01:36We'll find out who bought them
0:01:36 > 0:01:39and what they paid when they went under the hammer.
0:01:39 > 0:01:40Well done, sir, madam.
0:01:47 > 0:01:50Chesterton is a former mining town.
0:01:50 > 0:01:53Many of the terrace houses here were built for the miners
0:01:53 > 0:01:54and their families.
0:01:54 > 0:01:58Apedale Colliery was where the last coal was shoed
0:01:58 > 0:01:59in North Staffordshire.
0:02:00 > 0:02:04Today, I'm mining for a property bargain with this next auction lot.
0:02:04 > 0:02:07Set back from the road, with a little bit of front garden.
0:02:07 > 0:02:10It's got two gardens, two reception rooms,
0:02:10 > 0:02:12and a guide price of £70,000.
0:02:12 > 0:02:14I'm going in.
0:02:15 > 0:02:18Let's hope I'm not being led up the garden path at this house.
0:02:22 > 0:02:24Right, we're in!
0:02:24 > 0:02:28And straight into the front room here, which...
0:02:28 > 0:02:31With some nice, dated wallpaper,
0:02:31 > 0:02:34another old-fashioned fireplace, as well.
0:02:34 > 0:02:36Nice big windows, though.
0:02:36 > 0:02:40Looks like it's, er, been like this for some time.
0:02:40 > 0:02:42Through into the second reception room,
0:02:42 > 0:02:46and some really nice wood panelling over here.
0:02:46 > 0:02:49It sort of brings the room in, a bit too dark,
0:02:49 > 0:02:52so I'd get rid of that. Again, another fireplace.
0:02:52 > 0:02:56Over here, you have got the kitchen, which is tiny.
0:02:56 > 0:02:59We've got a pantry through there, as well.
0:02:59 > 0:03:02So why not just take this wall out, create a kitchen dining space,
0:03:02 > 0:03:06and a bit more space for more kitchen surfaces,
0:03:06 > 0:03:08more kitchen cupboards?
0:03:08 > 0:03:11And as I say that, I can see that there's polystyrene tiles in there,
0:03:11 > 0:03:14and polystyrene tiles in here.
0:03:14 > 0:03:16Now, got like a bit of a centrepiece...
0:03:16 > 0:03:18I wonder if this is polystyrene?
0:03:18 > 0:03:20And it is, this is polystyrene, as well.
0:03:20 > 0:03:22Look at that!
0:03:22 > 0:03:24That's all got to go! Fire hazard.
0:03:25 > 0:03:26Start from scratch.
0:03:27 > 0:03:31Old polystyrene tiles were not treated with fire retardant,
0:03:31 > 0:03:34and gave off toxic fumes in fires.
0:03:34 > 0:03:36If painted, they were even more dangerous,
0:03:36 > 0:03:39so get rid of these tiles - that's my advice.
0:03:41 > 0:03:45OK, upstairs to the bedrooms,
0:03:45 > 0:03:49and you've got one here and one just there.
0:03:49 > 0:03:53I can see there's a couple of cracks as well, just on the landing.
0:03:53 > 0:03:56This whole place needs completely decorating.
0:03:56 > 0:03:59These two bedrooms here have got original fireplaces in.
0:03:59 > 0:04:03They both need carpeting or new flooring.
0:04:03 > 0:04:06There is a...bedroom, I don't really want to call it a bedroom.
0:04:06 > 0:04:08It's not big enough to be one.
0:04:08 > 0:04:10Maybe a nursery or an upstairs office,
0:04:10 > 0:04:14but the whole of this place just needs a bit of TLC,
0:04:14 > 0:04:16a bit of time spent on it, and I think you'll have a nice,
0:04:16 > 0:04:18well-configured upstairs.
0:04:18 > 0:04:21But I still haven't found the toilet as yet...
0:04:21 > 0:04:24- MULTIPLE VOICES:- Behind you!- Sorry?
0:04:26 > 0:04:28In there, you say? It's a bit of a giveaway.
0:04:29 > 0:04:31And here is your family bathroom.
0:04:31 > 0:04:36It's not a bad size at all, it's in a bit of a bright shade of pink,
0:04:36 > 0:04:37each to their own,
0:04:37 > 0:04:40but what I have noticed through the whole of this house
0:04:40 > 0:04:42is it's got brand-new windows.
0:04:42 > 0:04:44Double-glazed windows throughout,
0:04:44 > 0:04:47which will save you a bit of money in the long run.
0:04:47 > 0:04:49# When it's cold outside
0:04:49 > 0:04:52# I can keep you warm, yeah! #
0:04:58 > 0:05:01So, out in the back garden, and it's not a bad size at all.
0:05:01 > 0:05:02And as I'm looking around,
0:05:02 > 0:05:06I can see that there's been a few extensions built on the back of houses,
0:05:06 > 0:05:08and also garages, as well.
0:05:08 > 0:05:12Because behind that fence, just there, there is a bit of a driveway,
0:05:12 > 0:05:15so you could take that fencing out, build yourself a garage,
0:05:15 > 0:05:17or have some off-street parking,
0:05:17 > 0:05:20as at the front of the property it is quite busy.
0:05:20 > 0:05:22So, you wouldn't have to tidy this place up,
0:05:22 > 0:05:24but I think if you were to do that,
0:05:24 > 0:05:27a bit of elbow grease, could be a really nice garden.
0:05:28 > 0:05:30I might be giving this place a thumbs up,
0:05:30 > 0:05:33but will the agent from the auction house who sold it agree?
0:05:33 > 0:05:36You'll remember, I mentioned this area's mining history,
0:05:36 > 0:05:39so those cracks - are they anything to worry about?
0:05:39 > 0:05:41It might be worth, any potential purchase,
0:05:41 > 0:05:42checking the mining report,
0:05:42 > 0:05:45cos there is a few minor cracks within the property.
0:05:45 > 0:05:48These could also just be due to long-standing movement.
0:05:50 > 0:05:52Good point, and a check of the report,
0:05:52 > 0:05:55which is of course available in the legal pack,
0:05:55 > 0:05:58reveals that this house is not in a high-risk area,
0:05:58 > 0:05:59which is good news.
0:05:59 > 0:06:03Now we are satisfied that it's not going to be falling down,
0:06:03 > 0:06:07what improvements would the agent make to the layout?
0:06:07 > 0:06:10I think it could be beneficial for the property
0:06:10 > 0:06:11to be extended to the rear.
0:06:11 > 0:06:13A single-storey extension,
0:06:13 > 0:06:15taking out the kitchen and the dining area.
0:06:15 > 0:06:19Alternatively, the wall between the dining area and the kitchen
0:06:19 > 0:06:22may be made into one. On completion of the works,
0:06:22 > 0:06:26I would estimate the rental value to be within the region
0:06:26 > 0:06:28of £550 per calendar month,
0:06:28 > 0:06:32and the sale figure in the region of £105,000.
0:06:32 > 0:06:34This is a good, solid house.
0:06:34 > 0:06:37Of course, it needs some work doing. It needs a new bathroom,
0:06:37 > 0:06:40it needs decorating throughout, and if it were mine,
0:06:40 > 0:06:42I'd create a kitchen diner.
0:06:42 > 0:06:45But apart from that, I think this is a very, very good project.
0:06:45 > 0:06:48Let's see who else thought it was, when it went under the hammer.
0:06:48 > 0:06:52Two bed, plus study-nursery, as you can see there.
0:06:52 > 0:06:55Where would you like to start the bidding, ladies and gentlemen?
0:06:55 > 0:06:56The guide is 70.
0:06:56 > 0:06:58Let's say £60,000.
0:06:58 > 0:07:01Thank you. Did I see 62 anywhere else?
0:07:01 > 0:07:0262? I have.
0:07:02 > 0:07:0564 now. Against you, with you.
0:07:05 > 0:07:0766. 68.
0:07:07 > 0:07:09I'm looking for 69 anywhere else.
0:07:11 > 0:07:13Are we all done? Your bid at 69 I have.
0:07:13 > 0:07:15Can I see 70 now?
0:07:15 > 0:07:17I'll take the half. Now 70 to you.
0:07:17 > 0:07:18And a half?
0:07:19 > 0:07:21Have a think. And a half over here, then?
0:07:21 > 0:07:23Anybody else at 70 and a half?
0:07:23 > 0:07:27If not, you, sir. At £70,000, for the very first time, then.
0:07:27 > 0:07:29Second time, at £70,000.
0:07:29 > 0:07:30Against a couple of you, it's going to go.
0:07:30 > 0:07:34Are you all done? At £70,000, third and final time...
0:07:35 > 0:07:39You've got it, sir. Well done. 70,000.
0:07:41 > 0:07:45Getting the property for bang on the guide price of £70,000 was Dan.
0:07:45 > 0:07:5020-year-old Dan has just completed his A-levels at college,
0:07:50 > 0:07:53and given how hard it is for young people to get into the market,
0:07:53 > 0:07:57it's great to see someone like him start up the property ladder.
0:07:58 > 0:08:00Dan, nice to meet you.
0:08:00 > 0:08:02- Nice to meet you. - Congratulations, sir!
0:08:02 > 0:08:04- Thank you. - This is your first project?
0:08:04 > 0:08:06- Yeah. - THEY LAUGH
0:08:06 > 0:08:08- Excited? Nervous? - Bit of both, really, yeah.
0:08:08 > 0:08:10You're such a young lad, you're 20 years old?
0:08:10 > 0:08:13- Yeah.- What made you go into property so young?
0:08:13 > 0:08:15It's probably off my dad, really.
0:08:15 > 0:08:17I look at what he's done and I'm thinking,
0:08:17 > 0:08:19I've got a few funds now, so I might as well start early, yeah.
0:08:19 > 0:08:21One of many, hopefully, so... Yeah.
0:08:21 > 0:08:23And you've wanted to do it for a while, or has your dad sort of...?
0:08:23 > 0:08:25A couple of years now, so, yeah.
0:08:25 > 0:08:26And now you're in it!
0:08:26 > 0:08:28What are you going to do with it now you've got it?
0:08:28 > 0:08:30The idea would be to do it up.
0:08:30 > 0:08:33I'm looking at a timescale of about two months.
0:08:33 > 0:08:34- OK.- And after that, yeah, sell it on.
0:08:34 > 0:08:36Put on the market, so, yeah.
0:08:36 > 0:08:39Let's go to specifics now, what are you going to do down here?
0:08:39 > 0:08:42- Well, in the kitchen area, obviously the kitchen's really small.- Mm.
0:08:42 > 0:08:44So there's like a dining room area...
0:08:44 > 0:08:46So I'm going to knock the wall through,
0:08:46 > 0:08:48knock that through, and, yeah, open it up a bit.
0:08:48 > 0:08:52- Have like a kitchen diner, make it more, a bit modern, to be honest.- OK, and upstairs?
0:08:52 > 0:08:54You've got two big, decent-sized rooms.
0:08:54 > 0:08:56You've got a small bedroom-nursery,
0:08:56 > 0:08:58so we were thinking maybe swap the bathroom round, put that in,
0:08:58 > 0:09:03- but we'll probably leave it as it is and have it as a nursery, to be honest.- The whole house,
0:09:03 > 0:09:06the whole house is rife with polystyrene tiles!
0:09:06 > 0:09:09I know, I looked upstairs and they're on the floors!
0:09:09 > 0:09:11- Everywhere, aren't they?- Yeah.
0:09:11 > 0:09:13They're going to have to come out and everything.
0:09:13 > 0:09:15- Of course.- I mean, there's a lot of things in here,
0:09:15 > 0:09:18in that room especially, needs ripping out.
0:09:18 > 0:09:19- Yeah.- Are you going to get involved yourself?
0:09:19 > 0:09:21Are you going to get your hands dirty? Get stuck in?
0:09:21 > 0:09:24That's what I like to do, yeah. Keep costs down, so...
0:09:24 > 0:09:25- DION LAUGHS - Yeah.
0:09:25 > 0:09:27Will you get any help from your pals, or your dad?
0:09:27 > 0:09:29Yeah, we've got some contacts.
0:09:29 > 0:09:32We've got a few guys who can obviously do a lot of this kind of stuff.
0:09:32 > 0:09:34Yeah, they've got an idea, some of what to do, as well.
0:09:34 > 0:09:36So yeah, get some feedback off them.
0:09:36 > 0:09:38So, Dan, what practical skills have you got?
0:09:38 > 0:09:41- Decorating.- OK.- I can paint and stuff like that.
0:09:41 > 0:09:44I'm hoping to learn, though, from the people we have in,
0:09:44 > 0:09:48and hopefully learn about plumbing and stuff like that, so yeah.
0:09:48 > 0:09:51So all the people that you get in to help you out,
0:09:51 > 0:09:54they're going to cost you a bit of money. What is your budget?
0:09:54 > 0:09:55Budget...
0:09:55 > 0:09:59I'm looking at about ten to 12, maybe 15 max,
0:09:59 > 0:10:02but that would be the absolute max, to be honest. I don't want to go above that.
0:10:02 > 0:10:03Try and keep it as strict as possible.
0:10:03 > 0:10:06- OK.- Don't pay way over the top kind of thing,
0:10:06 > 0:10:10- you know what I mean.- So you're looking to do it up, sell it,
0:10:10 > 0:10:13- and buy something else?- Yeah, obviously once I've sold this,
0:10:13 > 0:10:16after a few months, I'm going to use that money
0:10:16 > 0:10:18to move on to the next project, really.
0:10:18 > 0:10:20So you're not standing still, pal, are you?
0:10:20 > 0:10:23No! I want to move it on as soon as possible, so yeah.
0:10:23 > 0:10:26- So what's your job now? - Currently working in a cinema, like,
0:10:26 > 0:10:29you could say it's an ex-graduate job, kind of thing, but...
0:10:29 > 0:10:30Yeah, just working there,
0:10:30 > 0:10:32pay the fuel and everything to get me round to places.
0:10:32 > 0:10:34Do they know how ambitious you are?
0:10:34 > 0:10:37Do they know that one of their staff's now going to get
0:10:37 > 0:10:39into the property developing world, have you told them?
0:10:39 > 0:10:41I did tell them, and he was like, why do you want the job?
0:10:41 > 0:10:44- THEY LAUGH - But, yeah.- Good for you.
0:10:44 > 0:10:46Where do you see yourself, or what you see yourself doing,
0:10:46 > 0:10:48in ten years' time?
0:10:48 > 0:10:50Hopefully by then I'll have properties I can actually rent out
0:10:50 > 0:10:53rather than just keep doing them to sell on.
0:10:53 > 0:10:55That's what I'm looking for, to be honest.
0:10:55 > 0:10:57And then, obviously, I'm over jobs as well.
0:10:57 > 0:11:00I want to try and go in, well, if I can, investment banking.
0:11:00 > 0:11:01So I've still got the choice of going to uni.
0:11:01 > 0:11:04Just... Yeah, try to figure out what I want to do, really!
0:11:04 > 0:11:06You've got loads of time.
0:11:06 > 0:11:08When I was 20 years old I was nowhere near as talented as you.
0:11:08 > 0:11:11So listen, I've got to congratulate you on that.
0:11:11 > 0:11:14- Thank you very much. - And I wish you all the best. - Cheers, mate.- Dan, good luck.
0:11:16 > 0:11:18Now there's an ambitious young man.
0:11:18 > 0:11:22But is it me, or are property developers getting younger nowadays?
0:11:22 > 0:11:24But he has got an eye for a property,
0:11:24 > 0:11:28and as first projects go, I think he's chosen very wisely.
0:11:28 > 0:11:31Dan's got a plan, but will he have the clout to sort it out?
0:11:31 > 0:11:34You can find out how he gets on later in the programme.
0:11:37 > 0:11:40Lucy's in Hornchurch, in the London Borough of Havering,
0:11:40 > 0:11:43which has good transport links to the capital,
0:11:43 > 0:11:48and you might like to know that musician Kenny Ball has lived here.
0:11:48 > 0:11:51Speaking of the arts, the theatre has a very good reputation, too.
0:11:55 > 0:11:58Well, this is a popular part of Hornchurch,
0:11:58 > 0:12:00and no surprise, really, as it's a quiet street.
0:12:00 > 0:12:03And the properties do look well-kept.
0:12:03 > 0:12:06Apart from the bungalow I'm here to see,
0:12:06 > 0:12:09which is somewhere behind all these trees!
0:12:09 > 0:12:16Hmm, now it's got three bedrooms, it had a guide price of £250,000.
0:12:16 > 0:12:18If this were a pantomime...
0:12:18 > 0:12:21I think this would be the villain! Boo!
0:12:21 > 0:12:24Well, the hero always turns round and confronts it when the crowd
0:12:24 > 0:12:28shouts, "It's behind you!" So here goes!
0:12:28 > 0:12:31Well, once you've got over everything that's going on
0:12:31 > 0:12:34outside and its pebble dash exterior,
0:12:34 > 0:12:38it's actually quite charming on the inside.
0:12:38 > 0:12:40Lovely doors, a nice lounge there.
0:12:40 > 0:12:44I mean, obviously it's decaying, it needs loads of work.
0:12:44 > 0:12:45You've got a second reception room,
0:12:45 > 0:12:48a tiny little kitchen through there.
0:12:48 > 0:12:50And then there's this rather long corridor
0:12:50 > 0:12:52with all the rooms leading off.
0:12:52 > 0:12:55Although it's L-shaped, this house,
0:12:55 > 0:12:56and it's got a certain amount of character,
0:12:56 > 0:12:59you've got the Bakelite switches in some of the rooms.
0:12:59 > 0:13:01It is tired. I mean, look.
0:13:01 > 0:13:05Dusty! It's really dated, the wallpaper's peeling off.
0:13:05 > 0:13:07There's cobwebs everywhere.
0:13:07 > 0:13:11Some people might walk into this property and go, "Wow, I love it!"
0:13:11 > 0:13:13Like I initially did.
0:13:13 > 0:13:15But really, could you work with what's here?
0:13:15 > 0:13:17Could you work with the footprint?
0:13:17 > 0:13:20All the rooms are fairly small and I'm just not sure
0:13:20 > 0:13:24it's up to today's modern way of living, really.
0:13:26 > 0:13:28It's been unlived in since 2012,
0:13:28 > 0:13:32so who knows what kind of structural or damp problems are lurking?
0:13:32 > 0:13:35And even with the stuff you can see,
0:13:35 > 0:13:38Well, it certainly doesn't have anything in the way of mod cons.
0:13:41 > 0:13:43Well, I'd just like to draw your attention
0:13:43 > 0:13:46to the electric situation in this bungalow.
0:13:46 > 0:13:49They're really dated, as you can imagine!
0:13:49 > 0:13:50But this has really made me laugh.
0:13:50 > 0:13:54It's also very lovely, a little night-time light,
0:13:54 > 0:13:58so when people come home from work, it feels all homely and welcoming.
0:13:58 > 0:14:01But to turn it on and to plug it in, simple...
0:14:01 > 0:14:03You just put the plug in. Course you do!
0:14:03 > 0:14:05Look, put it in!
0:14:05 > 0:14:09Up there, turn it on, and the cable goes all the way round here,
0:14:09 > 0:14:11down the bottom there,
0:14:11 > 0:14:16into the next room, and it feeds into the wall just through there.
0:14:16 > 0:14:18Just like a little extension cable, really.
0:14:18 > 0:14:23Simple! I don't think that would pass today's regulations, do you?
0:14:23 > 0:14:25# Yeah, I'm so smart... #
0:14:27 > 0:14:31And just in case you mistakenly thought this was vaguely acceptable,
0:14:31 > 0:14:35regulations say an extension that goes outside the house
0:14:35 > 0:14:37must have a protection device,
0:14:37 > 0:14:40such as a residual current device fitted
0:14:40 > 0:14:42at the point it plugs into the inside mains,
0:14:42 > 0:14:44like those fitted to electric mowers,
0:14:44 > 0:14:47which this lawn is clearly in need of,
0:14:47 > 0:14:49not to mention the hedge trimmers.
0:14:49 > 0:14:51But for a light bulb moment of a different kind,
0:14:51 > 0:14:55you could knock it down and have a splendid-sized corner plot.
0:14:55 > 0:14:56Much more appealing,
0:14:56 > 0:15:01especially with that very attractive guide price of 250,000,
0:15:01 > 0:15:04which is cheap in comparison for this part of Hornchurch.
0:15:11 > 0:15:13So back into the sitting room and actually,
0:15:13 > 0:15:15I think this is probably one of my favourite rooms,
0:15:15 > 0:15:17and that's because, well, I just love that door.
0:15:17 > 0:15:20It's got so much character.
0:15:20 > 0:15:22But on a more negative note,
0:15:22 > 0:15:25there's something that is really worrying me about this bungalow,
0:15:25 > 0:15:29and in particular, up there, a massive crack.
0:15:29 > 0:15:32Which could be as a result of subsidence,
0:15:32 > 0:15:36and if that's been a frequent problem in this area,
0:15:36 > 0:15:38a local estate agent should know.
0:15:38 > 0:15:41So we called one in for his knowledge and opinion.
0:15:41 > 0:15:43Could this be subsidence?
0:15:44 > 0:15:45There could be subsidence,
0:15:45 > 0:15:50and there is some minor subsidence issues in similar locations.
0:15:50 > 0:15:53Obviously, you'd have to get someone else in to confirm that,
0:15:53 > 0:15:55but it looks like there is some structural issues,
0:15:55 > 0:15:57but more than not,
0:15:57 > 0:16:00because of the condition in the interior, it is in such bad order,
0:16:00 > 0:16:03there's a lot more interior structure problems,
0:16:03 > 0:16:06I would say, then the actual foundations itself.
0:16:06 > 0:16:08If someone took on the expense of renovating,
0:16:08 > 0:16:11what could the bungalow then be worth?
0:16:11 > 0:16:14In good condition and very high-end specification,
0:16:14 > 0:16:19I would expect it to achieve in the realms of, I would say 650,
0:16:19 > 0:16:21£700,000, in the current market.
0:16:23 > 0:16:25So, let's be honest, this bungalow,
0:16:25 > 0:16:28well, it's not all singing and dancing, is it?
0:16:28 > 0:16:31But if you could get planning permission to build
0:16:31 > 0:16:32something new here,
0:16:32 > 0:16:35well, this auction lot could reach the right high notes.
0:16:35 > 0:16:38Who was the hero ready to turn this around?
0:16:38 > 0:16:40Let's head to auction and find out.
0:16:40 > 0:16:44Now, moving down to a very popular lot, this lot, 189,
0:16:44 > 0:16:48it's a bungalow in need of modernisation on a corner site.
0:16:48 > 0:16:50You might want to knock it down or do something,
0:16:50 > 0:16:55I don't know, up to you. I start your bidding on this property.
0:16:55 > 0:16:57280, anywhere?
0:16:57 > 0:16:59280. 285.
0:16:59 > 0:17:02I've got 280, 285.
0:17:02 > 0:17:06Lots of interest, and the first bid, £30,000 more than the guide price.
0:17:06 > 0:17:08We rejoin the bidding
0:17:08 > 0:17:11as it approaches another £100,000 increase.
0:17:11 > 0:17:13380, sir?
0:17:13 > 0:17:14380.
0:17:14 > 0:17:16382.
0:17:16 > 0:17:19382. 384, 386.
0:17:19 > 0:17:25With no hint of slowing down, we rejoin the bidding again at 470,000.
0:17:25 > 0:17:26470.
0:17:26 > 0:17:28472.
0:17:28 > 0:17:31474. 476.
0:17:31 > 0:17:33476, 478.
0:17:33 > 0:17:35480.
0:17:35 > 0:17:36482.
0:17:36 > 0:17:38Would it be easier if we went in fives, gentlemen?
0:17:38 > 0:17:41482, 484.
0:17:41 > 0:17:42486.
0:17:42 > 0:17:44488.
0:17:44 > 0:17:48Perhaps the auctioneer should have suggested £10,000 bids,
0:17:48 > 0:17:54because we rejoin the bidding AGAIN as it reaches 544,000.
0:17:54 > 0:17:56He's not struggling, 544.
0:17:56 > 0:17:59544, 546.
0:17:59 > 0:18:01550, perhaps? Do you want to round it off?
0:18:01 > 0:18:04550, 552, 554.
0:18:04 > 0:18:06Why are you shaking your head?
0:18:06 > 0:18:10552, with the gentleman, been there all along, in the middle.
0:18:10 > 0:18:12554? 553 if it helps?
0:18:12 > 0:18:15I owe you that much, you being here for 100 grand or so.
0:18:15 > 0:18:17553?
0:18:17 > 0:18:18553. 554.
0:18:18 > 0:18:19555.
0:18:21 > 0:18:22556. 557.
0:18:24 > 0:18:25No? Won't ask you again.
0:18:25 > 0:18:31556, sitting down, 556 for the first, 556 for the second,
0:18:31 > 0:18:35556 for the third and final time.
0:18:35 > 0:18:38Sold, 556 to you, sir. Well done.
0:18:38 > 0:18:43The top £556,000 bid came from Sam.
0:18:44 > 0:18:49Sam is in the process from being a city banker to a property developer.
0:18:49 > 0:18:51This will be his first venture.
0:18:51 > 0:18:55Lucy met him at the property to find out how he's going to handle
0:18:55 > 0:18:58the transition from shirt and tie with shiny shoes
0:18:58 > 0:19:00to hard hat with steel-capped boots.
0:19:02 > 0:19:04Sam, hello, congratulations!
0:19:04 > 0:19:06- Thank you very much.- This really is a beautiful spot, isn't it?
0:19:06 > 0:19:10Yeah, it is, so they say. We'll find out when we finish!
0:19:10 > 0:19:12You did have to pay for it though, didn't you?
0:19:12 > 0:19:14Yeah. My budget was about 400,000.
0:19:14 > 0:19:15THEY LAUGH
0:19:15 > 0:19:19But I really wanted it, so I had to go on and on and on.
0:19:19 > 0:19:21There was a lot of interest on the property.
0:19:21 > 0:19:24I thought they must have done their homework as well,
0:19:24 > 0:19:27so they know it was worth that amount.
0:19:27 > 0:19:29So really, come to think of it,
0:19:29 > 0:19:33I only paid two grand more than the last person, so...
0:19:33 > 0:19:35Is that how you're getting away with it?!
0:19:35 > 0:19:38More than the other person that really wanted it.
0:19:38 > 0:19:41- Just two grand more. - Just two grand more. That's the way I like to look at it!
0:19:41 > 0:19:43- THEY LAUGH - Because it was 156 grand more...
0:19:43 > 0:19:46- Yeah, yeah.- But now you're just going, it's only two grand more
0:19:46 > 0:19:48than that other bloke, who you don't even know!
0:19:49 > 0:19:52Well, Sam, I think we've all had times in our lives
0:19:52 > 0:19:53when we've pushed the boat out
0:19:53 > 0:19:56a little further than we should have, perhaps.
0:19:58 > 0:20:01# There's nothing to say
0:20:01 > 0:20:04# Except that I need you
0:20:04 > 0:20:07# Too much. #
0:20:09 > 0:20:10But Sam has realised
0:20:10 > 0:20:13that the demolish-and-start-again route is the best.
0:20:13 > 0:20:16So how did it all start?
0:20:16 > 0:20:18I was driving past, and I saw the auction sign,
0:20:18 > 0:20:20and then I went on the internet,
0:20:20 > 0:20:23looked up and came to see it once.
0:20:23 > 0:20:25I went to the auction, so I went for it.
0:20:25 > 0:20:28Sam, talk me through what the property's going to be like,
0:20:28 > 0:20:29if you get the permission?
0:20:29 > 0:20:33Right, it's going to be a three-bedroom chalet-bungalow,
0:20:33 > 0:20:37all the bedrooms ensuite, and a study.
0:20:37 > 0:20:40We're going to have a family living area
0:20:40 > 0:20:44which will overlook the garden with high roofs.
0:20:44 > 0:20:45So it's going to be very beautiful.
0:20:45 > 0:20:48It's going to be open-plan, kitchen as well.
0:20:49 > 0:20:53So kitchen and lounge looking out to your lovely garden?
0:20:53 > 0:20:55- That's correct.- That's going to be gorgeous.
0:20:55 > 0:20:57Do you think that's going to be the selling point of the property?
0:20:57 > 0:20:59Oh, yes, oh, yes, oh, yes.
0:20:59 > 0:21:00I mean, the roof is going to be a high roof,
0:21:00 > 0:21:04open to the top, and there's going to be a balustrade
0:21:04 > 0:21:07from the first floor so that you can overlook the sitting area.
0:21:07 > 0:21:08It's going to be beautiful.
0:21:08 > 0:21:11So it's going to have like an open void that you can look down...
0:21:11 > 0:21:14- That's correct.- ..like a balcony almost within the roof space?
0:21:14 > 0:21:16Within the roof space, yes, that's correct.
0:21:16 > 0:21:17So that's quite exciting.
0:21:17 > 0:21:19Do you love it, are you quite passionate about it?
0:21:19 > 0:21:21Oh, yes, I am, I'm very happy with it.
0:21:21 > 0:21:23Are you spending a lot of your time now on this property?
0:21:23 > 0:21:25- That's correct!- Rather than behind a desk?
0:21:25 > 0:21:27Yeah, yeah, yeah. I've been doing a lot of research,
0:21:27 > 0:21:30a lot of back and forth with the architect.
0:21:30 > 0:21:32I know that trying to get it to what...
0:21:32 > 0:21:34I mean,
0:21:34 > 0:21:36currently, the prices,
0:21:36 > 0:21:41I mean, the last bungalow I saw on the street was about 625,
0:21:41 > 0:21:43and for you to be talking about 800,
0:21:43 > 0:21:47you have to do something different from what is currently in existence,
0:21:47 > 0:21:49so we'll try to do something different,
0:21:49 > 0:21:52to be able to get the extra money.
0:21:52 > 0:21:56Already, somehow, I think I paid a bit too much for it.
0:21:56 > 0:21:59Well, you could say that, Sam.
0:21:59 > 0:22:01He is also planning on spending another £200,000
0:22:01 > 0:22:04on developing the new build
0:22:04 > 0:22:06and anticipates eight weeks to get planning
0:22:06 > 0:22:08and six months to build.
0:22:08 > 0:22:11He'll have help from his project assistant, Femi.
0:22:11 > 0:22:15It's a bold move, one that would need a supporting family.
0:22:18 > 0:22:20It took me a while to convince my wife
0:22:20 > 0:22:22that it was the right thing to do.
0:22:22 > 0:22:24- Really?- I don't know if she's convinced yet,
0:22:24 > 0:22:27but we're doing it anyway!
0:22:27 > 0:22:31You know, and she watched the auction on the internet
0:22:31 > 0:22:36and as the price kept going, she was just hoping that it stopped.
0:22:36 > 0:22:39And once the hammer went down, she rang me,
0:22:39 > 0:22:42"I hope you're not the one that paid that much."
0:22:42 > 0:22:46- Unfortunately, I am!- That is an amazing story.
0:22:46 > 0:22:50I've never actually heard somebody's wife watching live and saying,
0:22:50 > 0:22:52"Please don't let that be my husband!"
0:22:52 > 0:22:54That is exactly what happened!
0:22:54 > 0:22:55Has she forgiven you yet?
0:22:55 > 0:22:57She believes in me, and I'm sure she trusts I can see this through.
0:22:57 > 0:23:00Well, I hope that if you're happy and you're having a really nice time
0:23:00 > 0:23:02and you can convince her that you're going to make some money
0:23:02 > 0:23:04at the end of the day, it will work out.
0:23:04 > 0:23:05Sam, good luck with this project.
0:23:05 > 0:23:08- Thank you very much.- I've got my fingers and my toes crossed for you,
0:23:08 > 0:23:11and I'm sure it's going to be spectacular, I can't wait to see it.
0:23:11 > 0:23:13- Congratulations.- Thank you very much.
0:23:13 > 0:23:15- Thank you.- Thank you.
0:23:15 > 0:23:18So, Sam certainly paid a lot of money
0:23:18 > 0:23:21for what is currently a very rundown bungalow,
0:23:21 > 0:23:22and I just hope he manages
0:23:22 > 0:23:25to keep more control of the build costs here,
0:23:25 > 0:23:28presuming he does get planning permission, that is.
0:23:28 > 0:23:31Join me later on in the programme and you can find out
0:23:31 > 0:23:32how Sam's first project goes.
0:23:34 > 0:23:36Coming up, the potential for extension
0:23:36 > 0:23:38in Sudbrook, Monmouthshire.
0:23:38 > 0:23:41The great news is you wouldn't lose too much of the garden,
0:23:41 > 0:23:43because look at this.
0:23:43 > 0:23:44Absolutely fantastic.
0:23:46 > 0:23:49And we find out what the planners thought
0:23:49 > 0:23:50of Sam's plans to rid Hornchurch
0:23:50 > 0:23:52of this crumbling eyesore.
0:23:58 > 0:24:01Back in Chesterton, Staffordshire, and to re-cap.
0:24:01 > 0:24:06It's got two bedrooms, two reception rooms and a guide price of £70,000.
0:24:06 > 0:24:07I'm going in.
0:24:09 > 0:24:12One bonus in the property was new PVC double glazing,
0:24:12 > 0:24:15and a fairly new central heating system.
0:24:17 > 0:24:20But it wasn't all rosy, thanks to those polystyrene tiles.
0:24:24 > 0:24:28Looks like it's been like this for some time.
0:24:28 > 0:24:31Through into the second reception room,
0:24:31 > 0:24:35and some really nice wood panelling over here.
0:24:35 > 0:24:37Sort of brings the room in a bit too dark
0:24:37 > 0:24:39so I'd get rid of that.
0:24:39 > 0:24:42It was bought for bang-on the guide price of 70 grand
0:24:42 > 0:24:44by 20-year-old cinema worker Dan,
0:24:44 > 0:24:49who hoped to spend a maximum of 15 grand in renovation costs.
0:24:49 > 0:24:50Are you going to get involved yourself?
0:24:50 > 0:24:53Are you going to get your hands dirty? Get stuck in?
0:24:53 > 0:24:56That's what I'd like to do, yeah, keep costs down!
0:24:56 > 0:24:58I'm looking at a time scale of about two months.
0:24:58 > 0:25:00- OK.- And after that, yeah, sell it on.
0:25:00 > 0:25:02Put it on the market so... Yeah.
0:25:02 > 0:25:06We're back eight months later, hoping not to find a Desperate Dan.
0:25:10 > 0:25:16Encouraged by his father's success with properties, Dan, now just 21,
0:25:16 > 0:25:19has carried out his more open-plan idea,
0:25:19 > 0:25:22which is more in sympathy with the new kitchen units.
0:25:24 > 0:25:27The improvements continue in the lounge,
0:25:27 > 0:25:30due to the removal of the fire and the fireplace.
0:25:34 > 0:25:38Upstairs, too, the rooms have a much more modern feel.
0:25:38 > 0:25:42Dan's on course to be the next generation developer.
0:25:42 > 0:25:45# I'm not trying to cause a big sensation
0:25:45 > 0:25:47# Talking 'bout my generation
0:25:47 > 0:25:50# I'm just talking 'bout my generation
0:25:50 > 0:25:51# Talking 'bout my generation
0:25:51 > 0:25:54# My generation. #
0:25:54 > 0:25:57He is a member of what's known as the Generation Y,
0:25:57 > 0:26:00which in this case stands for "yeah,"
0:26:00 > 0:26:02because this is a job well done.
0:26:05 > 0:26:07The front garden has been tidied up,
0:26:07 > 0:26:09and there's just a couple of weeks
0:26:09 > 0:26:11left to finish off the back.
0:26:11 > 0:26:13So what features does Dan like the most?
0:26:13 > 0:26:14I've got a utility room now,
0:26:14 > 0:26:16obviously where the old kitchen used to be.
0:26:16 > 0:26:17Underneath the stairs,
0:26:17 > 0:26:19we just decided to make use of the space,
0:26:19 > 0:26:21and we fitted a new toilet,
0:26:21 > 0:26:23and we think it's what people want, really.
0:26:23 > 0:26:25Clearly, with the overrun,
0:26:25 > 0:26:28not everything could have gone as planned.
0:26:28 > 0:26:29When we first bought the house,
0:26:29 > 0:26:30we never thought we'd need to rip
0:26:30 > 0:26:32all the plastering off and everything,
0:26:32 > 0:26:34but after looking underneath all the wallpaper,
0:26:34 > 0:26:36there were a lot of cracks,
0:26:36 > 0:26:37and we had to get rid of all of it,
0:26:37 > 0:26:39which was a hidden expenditure really, so yeah.
0:26:39 > 0:26:43The problems weren't limited to the inside of the house,
0:26:43 > 0:26:46as the builders found out when tracing the source of the damp
0:26:46 > 0:26:47in the chimney breast.
0:26:47 > 0:26:48When we had to go up there
0:26:48 > 0:26:51to replace the guttering and everything,
0:26:51 > 0:26:55had to put new guttering on all the way round, the bricks just caved in.
0:26:55 > 0:26:57We had to replace the chimney.
0:26:57 > 0:26:58I got a phone call when I was at work,
0:26:58 > 0:27:00and there was a structural problem
0:27:00 > 0:27:02so I came rushing down and I was like, "What's going on?"
0:27:02 > 0:27:04It was like, "Oh, the bricks are caving in."
0:27:04 > 0:27:06I was like, "Oh..."
0:27:06 > 0:27:08You know. And, yeah, just had to, well,
0:27:08 > 0:27:10obviously get that sorted as well,
0:27:10 > 0:27:13which was unfortunately another expense.
0:27:13 > 0:27:15But it looks a lot better now.
0:27:15 > 0:27:19It matches up with the house next door, and, yeah, looks really nice.
0:27:19 > 0:27:21To solve the damp ingress,
0:27:21 > 0:27:23the entire back wall had to be repointed,
0:27:23 > 0:27:26and the off-road parking still has to be finished,
0:27:26 > 0:27:29but the refurbishment had taken three times as long
0:27:29 > 0:27:32as first forecast.
0:27:32 > 0:27:35The timescale originally, it was a bit ambitious, to be honest.
0:27:35 > 0:27:37Two months was, yeah...
0:27:37 > 0:27:40Obviously, this is my first house, I didn't have much experience in that.
0:27:40 > 0:27:44But it's taken us just over six and a half months, all told.
0:27:44 > 0:27:47Which, for a first time, is not too bad and everything needed doing,
0:27:47 > 0:27:50so I think, yeah, quite pleased.
0:27:50 > 0:27:53So replastering inside walls and re-pointing outside at the back
0:27:53 > 0:27:56must have also had an impact on the budget.
0:27:56 > 0:27:59Originally, the budget was ten to 15,000,
0:27:59 > 0:28:02but we've gone a bit over that.
0:28:02 > 0:28:06Yeah, about the 23,000 mark now, so, yeah.
0:28:06 > 0:28:11A brave-faced reaction to an almost 100% overspend.
0:28:11 > 0:28:15Dan's 23 grand plus his £70,000 purchase price
0:28:15 > 0:28:19takes this investment to 93 grand.
0:28:19 > 0:28:21We called in two local property experts
0:28:21 > 0:28:23to give us their market wisdom.
0:28:23 > 0:28:26First up, the agent who saw it before the work began.
0:28:26 > 0:28:27I think the overall standard of
0:28:27 > 0:28:30finish of the property has been very good.
0:28:30 > 0:28:32It's been fully modernised internally, but also,
0:28:32 > 0:28:35attention's been paid to the property externally,
0:28:35 > 0:28:37with re-pointing to the brickworks.
0:28:37 > 0:28:38On the ground floor,
0:28:38 > 0:28:41I would have done exactly what has been carried out.
0:28:43 > 0:28:45Opening it up increases the appeal,
0:28:45 > 0:28:47people are looking for kitchen-diners,
0:28:47 > 0:28:50and they're looking for this open-plan feel.
0:28:50 > 0:28:54However, you've got two good-sized bedrooms
0:28:54 > 0:28:58and a box room that cannot be described as a bedroom
0:28:58 > 0:29:01for the simple reason you cannot fit a bed in there.
0:29:01 > 0:29:04However, the wall could have been moved
0:29:04 > 0:29:09by 12 inches without altering any windows whatsoever.
0:29:09 > 0:29:12It would have then had an instant increase in value,
0:29:12 > 0:29:16because the property could have been described as three bedrooms,
0:29:16 > 0:29:19and would have had a wider appeal to a much wider market.
0:29:20 > 0:29:22Dan did look at using the box room
0:29:22 > 0:29:25as a staircase into a loft conversion,
0:29:25 > 0:29:28but decided it wasn't worth the return.
0:29:28 > 0:29:32So what's Dan's 93-grand spend worth now?
0:29:32 > 0:29:34We would look to place the property for sale
0:29:34 > 0:29:37somewhere in the region of £125,000.
0:29:37 > 0:29:40We're looking at £120,000.
0:29:40 > 0:29:43We've just had it put on the market at 125,
0:29:43 > 0:29:44so, I'm happy with that, yeah.
0:29:44 > 0:29:46Very happy.
0:29:46 > 0:29:50The potential profit of 32 grand before taxes and expenses,
0:29:50 > 0:29:53which is a pretty good outcome given that overspend,
0:29:53 > 0:29:57but what about if he decided to rent instead of going for the resale?
0:30:00 > 0:30:04This property on the rental market should achieve
0:30:04 > 0:30:07a figure of £600 per calendar month.
0:30:07 > 0:30:11We would put the property for rent for £550 per calendar month.
0:30:11 > 0:30:14So this looks like a successful first property,
0:30:14 > 0:30:16and he's keen to sell it quickly
0:30:16 > 0:30:20as he's chomping on the bit to move on to a project with his dad.
0:30:20 > 0:30:22We've got this other project coming up now
0:30:22 > 0:30:23and we need the capital,
0:30:23 > 0:30:26and I'm going to invest all the money I've invested in this
0:30:26 > 0:30:28into that one, so...
0:30:28 > 0:30:30Which is shops and flats and a parcel of land
0:30:30 > 0:30:33that's had planning permission, so, yeah, I'm looking forward to it.
0:30:33 > 0:30:36That sounds like a big project
0:30:36 > 0:30:37and Dan is making a good decision
0:30:37 > 0:30:39to work alongside his dad.
0:30:39 > 0:30:41Dan is one of the youngest developers
0:30:41 > 0:30:43we've ever had on the show,
0:30:43 > 0:30:45so with his first one under his belt,
0:30:45 > 0:30:49has he got any advice for any would-be enterprising members
0:30:49 > 0:30:53of his generation, assuming they can qualify for a mortgage, that is?
0:30:56 > 0:30:58I think, nowadays, getting on the property ladder,
0:30:58 > 0:31:00it is a lot harder for everyone.
0:31:00 > 0:31:03I mean... The rate inflation's gone and everything...
0:31:04 > 0:31:05..but I'd give this advice.
0:31:05 > 0:31:07I mean...
0:31:07 > 0:31:11Save up, all you need is a deposit, and go to these auctions,
0:31:11 > 0:31:15go and buy a house that needs a little bit of work doing to it,
0:31:15 > 0:31:18live in it,
0:31:18 > 0:31:20do it up at the same time, and, yeah, before you know it,
0:31:20 > 0:31:22you'll be on the property ladder.
0:31:28 > 0:31:34This is the Bristol Channel and that is the Second Severn Crossing,
0:31:34 > 0:31:36which carries the M4 motorway,
0:31:36 > 0:31:41linking England over there with Wales here.
0:31:41 > 0:31:44On a day like today, you stand here and look at that,
0:31:44 > 0:31:48you've got to admire these big construction projects, haven't you?
0:31:48 > 0:31:55However, what we're here to see is a little bit more smaller scale.
0:31:55 > 0:31:57# I've seen the bridge
0:31:57 > 0:31:59# And the bridge is long
0:31:59 > 0:32:02# And they build it high
0:32:02 > 0:32:04# And they build it strong
0:32:04 > 0:32:06# Strong enough to hold
0:32:06 > 0:32:08# The weight of time... #
0:32:08 > 0:32:10Well, literally,
0:32:10 > 0:32:12in the shadow of the bridge and sitting above
0:32:12 > 0:32:15the line of the Severn Tunnel
0:32:15 > 0:32:17is the village of Sudbrook,
0:32:17 > 0:32:19where the property I'm here to see is located.
0:32:19 > 0:32:25And this is it. It's a mid-terrace, guide price of £48,000 plus.
0:32:25 > 0:32:28Well, will it be a bridge too far?
0:32:28 > 0:32:31Or maybe there's light at the end of this tunnel.
0:32:31 > 0:32:33Let's have a look inside and find out.
0:32:36 > 0:32:38OK. So what have we got?
0:32:38 > 0:32:40Well, nice high ceilings, that's a good start.
0:32:40 > 0:32:42And big rooms.
0:32:42 > 0:32:43Look at that front one there.
0:32:43 > 0:32:44Wow!
0:32:44 > 0:32:47Looks to be in... Yes, a bit of a state.
0:32:48 > 0:32:51And what's that all about?
0:32:51 > 0:32:54What a strange little room that is, long and thin.
0:32:54 > 0:32:56And what are you going to do?
0:32:56 > 0:32:59Take this wall out? Then you'd just have a very large entranceway.
0:32:59 > 0:33:02Through further into the property, and, again,
0:33:02 > 0:33:05a really large sort of corridor area here.
0:33:05 > 0:33:08Massive living room towards the back.
0:33:09 > 0:33:11This is a really surprising house, isn't it?
0:33:11 > 0:33:14It's so much bigger on the inside than it seems on the outside.
0:33:14 > 0:33:16You carry on going,
0:33:16 > 0:33:19and eventually, you get the rear of the property here.
0:33:19 > 0:33:20Kitchen area.
0:33:20 > 0:33:23My guess is that this is a bit of an extension.
0:33:23 > 0:33:27Loo. My guess is that is probably the only loo in the property.
0:33:27 > 0:33:28But overall,
0:33:28 > 0:33:30wow,
0:33:30 > 0:33:32a lot of space!
0:33:32 > 0:33:35This is probably because these houses were built
0:33:35 > 0:33:38for the workers who constructed the Severn Tunnel,
0:33:38 > 0:33:40and had to house both families
0:33:40 > 0:33:43and migrant workers who were lodging here.
0:33:43 > 0:33:45But it's not just the inside that has space.
0:33:47 > 0:33:50Well, come out the back of the property
0:33:50 > 0:33:52and the potential continues.
0:33:53 > 0:33:57Yes, you see the fact that the property's in a bit of a state.
0:33:57 > 0:33:59Little extension here.
0:33:59 > 0:34:00But look at this space here.
0:34:00 > 0:34:02Absolutely crying out for,
0:34:02 > 0:34:05well, an extension to the extension.
0:34:05 > 0:34:08And maybe, really think about what you might do, maybe double storey,
0:34:08 > 0:34:10maybe just extend that across, I don't know.
0:34:10 > 0:34:13But the great news is, you wouldn't lose too much of the garden,
0:34:13 > 0:34:14because look at this.
0:34:14 > 0:34:16Absolutely fantastic.
0:34:16 > 0:34:18Stretching out, down there.
0:34:18 > 0:34:20You've got open fields in the distance.
0:34:20 > 0:34:22It's absolutely lovely.
0:34:23 > 0:34:27# I'm in a wide-open space
0:34:27 > 0:34:29# I'm staring
0:34:29 > 0:34:35# There's something quite bizarre I cannot see... #
0:34:37 > 0:34:41Another thing I spotted is the state of the roof and guttering.
0:34:41 > 0:34:46They are in really bad shape, so could all do with replacing,
0:34:46 > 0:34:48which would be a big cost to consider.
0:34:48 > 0:34:51Time to have another look from the inside.
0:34:53 > 0:34:57Well, upstairs, and the first thing you notice,
0:34:57 > 0:34:59missing a few dividing walls.
0:34:59 > 0:35:01That is a bit strange!
0:35:01 > 0:35:05But actually, a lot of space, and I guess,
0:35:05 > 0:35:08the fact that these walls are literally made of bits of wood
0:35:08 > 0:35:11does give you a lot of flexibility in terms of reconfiguring this.
0:35:11 > 0:35:13Yeah, no, it's good.
0:35:13 > 0:35:16I mean, one thing you do notice up here, though,
0:35:16 > 0:35:18is the effect which that...
0:35:19 > 0:35:24..roof, or rather lack of it in certain places, has caused.
0:35:24 > 0:35:27We've lost areas of the ceiling.
0:35:27 > 0:35:30You can actually see daylight when you stare up into the loft there.
0:35:30 > 0:35:34You don't know what kind of damage it's done to the floorboards
0:35:34 > 0:35:36and the joists, so that needs to be checked out.
0:35:36 > 0:35:38But a bit like downstairs...
0:35:39 > 0:35:44..lots to do, but this house gives you that impression,
0:35:44 > 0:35:46it's got to be worth doing.
0:35:46 > 0:35:48# Baby, I'm worth it
0:35:48 > 0:35:50# Uh-huh, I'm worth it
0:35:50 > 0:35:53# Gimme, gimme, I'm worth it
0:35:53 > 0:35:55# Give it to me, I'm worth it... #
0:35:57 > 0:35:59Let's see if the agent from the auction house
0:35:59 > 0:36:01who sold it agrees with me.
0:36:03 > 0:36:05It's a project,
0:36:05 > 0:36:07and a reasonably big project,
0:36:07 > 0:36:09but it's what I call an honest house,
0:36:09 > 0:36:11in that there is nothing hidden.
0:36:11 > 0:36:13You can see exactly what you need to do,
0:36:13 > 0:36:15and that's everything including
0:36:15 > 0:36:18the roof down, but it offers great scope.
0:36:18 > 0:36:21You know, it's a versatile property so you can reconfigure it
0:36:21 > 0:36:24and comfortably create a nice family-sized three-bedroom house.
0:36:24 > 0:36:26The agent thinks that rental wise,
0:36:26 > 0:36:30this, as a three-bed, would bring in around £650 per calendar month,
0:36:30 > 0:36:31but he thinks it would be
0:36:31 > 0:36:34a much better prospect for the sales market.
0:36:34 > 0:36:38So bearing in mind that rather attractive £48,000 plus guide,
0:36:38 > 0:36:40what could it sell for?
0:36:40 > 0:36:43I would anticipate, done to a good spec,
0:36:43 > 0:36:50the asking price will be in the region of 150 to £155,000.
0:36:50 > 0:36:54Well, in case you hadn't guessed yet, I absolutely love this house.
0:36:54 > 0:36:58And for that auction guide price of £40,000 plus,
0:36:58 > 0:37:02it really is just an absolute pearl of a find.
0:37:02 > 0:37:03Let's see who was lucky enough to buy it
0:37:03 > 0:37:05when it went under the hammer.
0:37:05 > 0:37:07A lot of interest in this.
0:37:07 > 0:37:11Guided at 48. Will you start me, somebody start me at £50,000?
0:37:11 > 0:37:12Thank you, 50 I've got, 52, can I say? 54?
0:37:12 > 0:37:14This final lot of the day had a lot of interest,
0:37:14 > 0:37:17and was climbing well above its guide.
0:37:17 > 0:37:20We re-joined the bidding looking for £83,000.
0:37:20 > 0:37:22Third and last time then, at 80...
0:37:22 > 0:37:2483,000, 83.
0:37:24 > 0:37:2884? 84. 85? 85, 86?
0:37:28 > 0:37:30No. At 85,000, now against you, bad luck,
0:37:30 > 0:37:32you've been there nearly all the way.
0:37:32 > 0:37:35At £85,000, with you, sir and madam, for the first time.
0:37:35 > 0:37:38Second time. Third and last...
0:37:38 > 0:37:4086. 87. 88?
0:37:40 > 0:37:42Are you sure? One more?
0:37:42 > 0:37:44£87,000, with you, then.
0:37:44 > 0:37:4688? 87 and a half?
0:37:46 > 0:37:4987 and a half, 87 and half, 88 now if you want?
0:37:49 > 0:37:5388 and a half, 88 and a half, 89.
0:37:53 > 0:37:57No? At 88 and a half then, with you for the first time.
0:37:57 > 0:37:59Second time. Third and last time.
0:37:59 > 0:38:02At £88,500...
0:38:02 > 0:38:04Well done, sir and madam. Bad luck, everybody else.
0:38:04 > 0:38:08The successful bidders paying £88,500 were Ann and Roger
0:38:08 > 0:38:10who looked absolutely delighted.
0:38:10 > 0:38:13I hope they're still happy with their purchase,
0:38:13 > 0:38:15and I can't wait to find out their plans
0:38:15 > 0:38:17for this rather charming house.
0:38:21 > 0:38:23Roger, Ann, great to meet you both.
0:38:23 > 0:38:25- Nice to meet you, too. - Congratulations.
0:38:25 > 0:38:29- Thank you.- Tell me why you wanted to buy this house.
0:38:29 > 0:38:33Erm, mainly, we saw you on the programme years ago,
0:38:33 > 0:38:35and that gave us the inspiration to go to an auction...
0:38:35 > 0:38:39- Oh, great!- And I'm a builder, so that was the other connection,
0:38:39 > 0:38:42and we wanted a house we could afford to live in.
0:38:42 > 0:38:45- Right.- So this one sort of ticked the...ticked the bill.
0:38:45 > 0:38:47- Fantastic.- Where do you live at the moment?
0:38:47 > 0:38:49We live in Corsham in Wiltshire.
0:38:49 > 0:38:51OK. So about an hour away?
0:38:51 > 0:38:53About an hour away, just under an hour.
0:38:53 > 0:38:55What brought you to this part of Wales?
0:38:55 > 0:38:57We've been looking in Wales for a while,
0:38:57 > 0:39:00we wanted to be just into Wales with good access to England as well.
0:39:00 > 0:39:05So, that was it then, a place very close to the border, basically,
0:39:05 > 0:39:08and why this particular house?
0:39:08 > 0:39:11We just like old houses, that was the main reason.
0:39:11 > 0:39:13Its character, it's an old house,
0:39:13 > 0:39:16but it's bigger than your standard Welsh sort of terraced house.
0:39:16 > 0:39:18Mm-hm. Now, you're a builder, you say?
0:39:18 > 0:39:21- Yes.- A general builder? - A general builder.
0:39:21 > 0:39:23So you're probably used to seeing houses in a bit of a mess.
0:39:23 > 0:39:25Yeah, yeah.
0:39:25 > 0:39:27So this didn't faze you? What about you, Ann?
0:39:27 > 0:39:30Because when you walked through the door were you...
0:39:30 > 0:39:32Yes, a bit of an eye opener!
0:39:32 > 0:39:34What was it you liked about it then?
0:39:34 > 0:39:36It's just got lots of character.
0:39:36 > 0:39:39And I like character in it and the stairs and stuff.
0:39:39 > 0:39:43Yeah. So, what are you going to do to modernise it?
0:39:43 > 0:39:46Um, we're leaving the front room as it is.
0:39:46 > 0:39:48This room is going to hopefully open-plan
0:39:48 > 0:39:50into a small extension on the back.
0:39:50 > 0:39:53- Right.- And it's going to be a lounge-diner.
0:39:53 > 0:39:56We're going to have a kitchen which is going to be extended slightly,
0:39:56 > 0:39:58with a utility room behind,
0:39:58 > 0:40:00and there is a downstairs loo there
0:40:00 > 0:40:02so we're going keep it in the original place,
0:40:02 > 0:40:05and a shower room next to it.
0:40:05 > 0:40:10And then, four bedrooms upstairs with an en-suite bathroom.
0:40:10 > 0:40:12The fourth bedroom, hopefully, will be in a loft conversion.
0:40:12 > 0:40:14We can probably do a dormer on the back,
0:40:14 > 0:40:16because there's one down the street
0:40:16 > 0:40:18in this row of houses that's got one,
0:40:18 > 0:40:21and hopefully skylights in the front to give us a bit more space.
0:40:21 > 0:40:23- Wow.- So have you got a big family?
0:40:23 > 0:40:28Not really. There's Ann and I, plus my son, Ashley.
0:40:28 > 0:40:31So, you obviously live an hour or so away at the moment,
0:40:31 > 0:40:34what's the plan in terms of doing the work?
0:40:34 > 0:40:35I'm going to oversee the work.
0:40:35 > 0:40:39Ashley, my son, is going to do a lot of the heavy work, shall we say?
0:40:39 > 0:40:41Demolition is his speciality.
0:40:41 > 0:40:43Oh, is it?!
0:40:43 > 0:40:47And then I'll oversee him, and it's to give him a training as well...
0:40:47 > 0:40:49- Oh, great.- ..to be a builder and come in to sort of
0:40:49 > 0:40:52- make it a family business. - And he's cheap?
0:40:52 > 0:40:54He's cheap. He's very cheap!
0:40:54 > 0:40:55Beer and food.
0:40:56 > 0:40:59Ah, you're going to have to negotiate a better deal, Ashley!
0:40:59 > 0:41:02On a serious note, 19-year-old Ashley
0:41:02 > 0:41:04will not just be gaining expertise,
0:41:04 > 0:41:07he's going to be a real help to his dad.
0:41:07 > 0:41:09Unfortunately, I've got ME...
0:41:09 > 0:41:11- Oh, no.- ..which slows me down in doing jobs
0:41:11 > 0:41:14and some days, I can do bits, and some days, I can't,
0:41:14 > 0:41:17so hence why Ashley is here to do the work.
0:41:17 > 0:41:19Right. So what's the timescale?
0:41:19 > 0:41:20Six to eight months.
0:41:20 > 0:41:22And that's with commuting.
0:41:22 > 0:41:24You won't be living here and doing the work
0:41:24 > 0:41:27or Ashley will be here sort of camped out on a bed, will he?
0:41:27 > 0:41:30Yes, Ash is going to be here camped out on a bed.
0:41:30 > 0:41:32- Is he?- Yeah. Yeah.
0:41:32 > 0:41:33- Once we sort of...- Does he know yet?
0:41:33 > 0:41:35We have told him.
0:41:35 > 0:41:36- He's quite happy.- Right.
0:41:36 > 0:41:38Before or after the central heating's put in?
0:41:38 > 0:41:40Probably after!
0:41:40 > 0:41:42THEY LAUGH
0:41:42 > 0:41:45So, what's the budget?
0:41:45 > 0:41:4630 to 35,000.
0:41:46 > 0:41:50- OK, so quite healthy?- Yeah, it just depends what we do,
0:41:50 > 0:41:51and how far we extend,
0:41:51 > 0:41:53and how many skylights we put in
0:41:53 > 0:41:56and whether we can put a dormer in the loft conversion.
0:41:56 > 0:41:58OK.
0:41:58 > 0:42:00And will you be paying Ashley?
0:42:00 > 0:42:02Yeah, we'll have to, I suppose!
0:42:02 > 0:42:03THEY LAUGH
0:42:03 > 0:42:07Other than the beer and food, he wants some money, yes.
0:42:07 > 0:42:10And what about you, Ann, are you going to be involved at all?
0:42:10 > 0:42:11I'll have put my stamp on it, yes,
0:42:11 > 0:42:14I'll be doing painting and decorating
0:42:14 > 0:42:16and pulling down walls if I want to.
0:42:16 > 0:42:17Ann's the boss, really!
0:42:17 > 0:42:20- Really?- Yes.
0:42:20 > 0:42:21Cracking the whip.
0:42:21 > 0:42:23- Yes, definitely.- And giving a bit of moral support.- Yes.
0:42:23 > 0:42:26Are you going to get involved in the design and the colouring and...
0:42:26 > 0:42:28Yes, we'll do it together, won't we?
0:42:28 > 0:42:30Yeah, you will.
0:42:30 > 0:42:35And for you, the idea of creating from, not exactly scratch,
0:42:35 > 0:42:39but almost scratch, your own place, is that a big appeal?
0:42:39 > 0:42:42Yes, because I've always wanted to do something like that, so...
0:42:42 > 0:42:44- It's good, isn't it?- Yes.
0:42:44 > 0:42:46Really exciting. Well, listen, congratulations.
0:42:46 > 0:42:48- Really lovely to meet you.- Lovely to meet you, too.
0:42:48 > 0:42:51- Can't wait to see how it turns out. - Thank you.
0:42:51 > 0:42:53Well, Roger and Ann clearly love this place
0:42:53 > 0:42:55and why wouldn't you?
0:42:55 > 0:42:58It will make an absolutely superb family home.
0:42:58 > 0:43:02Just down to Ashley now to do the work!
0:43:02 > 0:43:04No, but it's great experience for him as well.
0:43:04 > 0:43:06How will it all turn out?
0:43:06 > 0:43:08You can find out later in the show.
0:43:11 > 0:43:13Well, after some time and effort,
0:43:13 > 0:43:15our properties should be worth more money,
0:43:15 > 0:43:17but it's only if you get it right.
0:43:17 > 0:43:21Yes, the wheels can come off if your budget spirals out of control.
0:43:21 > 0:43:23How did our two remaining buyers get on?
0:43:23 > 0:43:24Let's find out.
0:43:27 > 0:43:30Back to Hornchurch now in the London Borough of Havering,
0:43:30 > 0:43:34in particular, the rundown bungalow that Lucy looked at earlier.
0:43:35 > 0:43:38Some people might walk into this property and go,
0:43:38 > 0:43:40"Oh, wow, I love it," like I initially did.
0:43:40 > 0:43:43But really, could you work with what's here?
0:43:43 > 0:43:45Could you work with the footprint?
0:43:45 > 0:43:46All the rooms are fairly small.
0:43:46 > 0:43:53I'm just not sure it's up to today's modern way of living really.
0:43:53 > 0:43:55Unoccupied since 2012,
0:43:55 > 0:44:02the guide price was totally eclipsed by the top bid of £556,000,
0:44:02 > 0:44:05paid by former city banker Sam.
0:44:05 > 0:44:10He had a philosophical approach to paying £156,000 more for the lot
0:44:10 > 0:44:12than he had budgeted for.
0:44:13 > 0:44:15Come to think of it, I only paid two grand
0:44:15 > 0:44:17more than the last person so...
0:44:17 > 0:44:20Is that how you're getting away with it?
0:44:20 > 0:44:22More than the other person that really wanted it?
0:44:22 > 0:44:24Just two grand more. That's the way I like to look at it.
0:44:24 > 0:44:27THEY LAUGH
0:44:27 > 0:44:29It was the first project for Sam's
0:44:29 > 0:44:32newly-formed property development company.
0:44:32 > 0:44:35Sam saw the future as demolish and start again
0:44:35 > 0:44:38with plans for an open-plan, chalet bungalow
0:44:38 > 0:44:40with three ensuite bedrooms.
0:44:40 > 0:44:41His timescale? Eight months,
0:44:41 > 0:44:45including that all-important planning phase.
0:44:45 > 0:44:49To find out what became of the worst-looking property on the road,
0:44:49 > 0:44:51we're back over a year later.
0:44:57 > 0:45:00# I need to know now
0:45:00 > 0:45:02# Know now
0:45:02 > 0:45:04# Can you love me again?.. #
0:45:04 > 0:45:06Well, I think if I was one of the neighbours,
0:45:06 > 0:45:09the new building would certainly get my approval.
0:45:09 > 0:45:10What about inside?
0:45:12 > 0:45:15# I need to know now
0:45:15 > 0:45:17# Know now
0:45:17 > 0:45:19# Will you love me again?... #
0:45:19 > 0:45:22What is there not to love?
0:45:22 > 0:45:24But if you don't like it, well...
0:45:24 > 0:45:27# There's nothing I can do... #
0:45:30 > 0:45:33Upstairs, there is a gallery with an open seating area.
0:45:39 > 0:45:41The master bedroom is also on this level,
0:45:41 > 0:45:43featuring a walk-in wardrobe area
0:45:43 > 0:45:47and ensuite bathroom with multicoloured bubbly bath.
0:46:01 > 0:46:04Downstairs, as you enter through the front door,
0:46:04 > 0:46:07bedroom two is on your right and, yes, it's ensuite.
0:46:15 > 0:46:19Bedroom three on the opposite side of the front door is also ensuite.
0:46:22 > 0:46:25There is a study/cloakroom/office/ bedroom four
0:46:25 > 0:46:28nearer the back of the house.
0:46:29 > 0:46:32And this too is near a wet room and WC.
0:46:40 > 0:46:43Sam's mainly project-managed the job himself
0:46:43 > 0:46:46with his assistant project manager, Femi,
0:46:46 > 0:46:48when Sam couldn't be on-site.
0:46:48 > 0:46:51But they have both tackled hands-on jobs as well.
0:46:53 > 0:46:58The whole house has got underfloor heating which I did myself.
0:46:58 > 0:47:01I watched it on the internet and it works pretty well.
0:47:01 > 0:47:04I did the insulation with Femi.
0:47:04 > 0:47:06I got professionals to do, like, electrics,
0:47:06 > 0:47:08the plumbing and all that,
0:47:08 > 0:47:11but I worked with them because I know what I want.
0:47:11 > 0:47:15And what Sam wanted was a top-quality, high-spec finish,
0:47:15 > 0:47:19so Jack-of-all-trades workers need not apply.
0:47:19 > 0:47:21What I did, I had individual tradesmen
0:47:21 > 0:47:24to do different aspects of the job.
0:47:24 > 0:47:27I made sure for each job that was done,
0:47:27 > 0:47:31I interviewed at least five to six different tradesmen,
0:47:31 > 0:47:34and I picked the best and the most qualified to do it.
0:47:34 > 0:47:39That is why I wanted to achieve the standard and quality we have.
0:47:39 > 0:47:43Well, nobody could class this finish as bargain basement.
0:47:43 > 0:47:46# I can't get no sleep... #
0:47:46 > 0:47:47Hardly surprising,
0:47:47 > 0:47:50as Sam's not rested on his laurels in other areas.
0:47:51 > 0:47:54He's also bought and renovated into a six-bedroom bungalow,
0:47:54 > 0:47:56a four-bedroom bungalow over the road,
0:47:56 > 0:47:59and his architect spotted an opportunity
0:47:59 > 0:48:02to build more property next door to this bungalow.
0:48:04 > 0:48:08He said, "Sam, we have potential, we are in two properties here.
0:48:08 > 0:48:12"We need to buy a bit more land to make it two properties."
0:48:12 > 0:48:15Luckily, we have been able to get one of the neighbours to sell to us,
0:48:15 > 0:48:18so we've put in planning for a four-bedroom detached house
0:48:18 > 0:48:22and fingers crossed, if it goes through, we'll be in business.
0:48:22 > 0:48:26This former banker certainly has a new interest in the developing bug.
0:48:26 > 0:48:30And if the four-bedroom house just beyond the bungalow's garage
0:48:30 > 0:48:34comes to fruition, this company's bank balance should be very healthy.
0:48:34 > 0:48:40But I am guessing at the moment it's taken more than the £200,000 budget
0:48:40 > 0:48:42to do the work here so far.
0:48:43 > 0:48:48We have ended up spending about 250,000.
0:48:48 > 0:48:53Now, it was between lowering the quality of work
0:48:53 > 0:48:55or doing high standard,
0:48:55 > 0:48:58so I had to pay the money to get it high standard.
0:48:58 > 0:49:00I wanted to be proud of my work, which I am.
0:49:02 > 0:49:05As they say in banking circles, credit where credit is due,
0:49:05 > 0:49:08but what will two local estate agents make
0:49:08 > 0:49:15of Sam's £556,000 purchase and £250,000 rebuild?
0:49:15 > 0:49:17The property is in beautiful condition,
0:49:17 > 0:49:20it's been finished to a very high standard.
0:49:20 > 0:49:23I think anyone that saw it would love to live in here.
0:49:23 > 0:49:26There's a real, fantastic open feel to the back of the property
0:49:26 > 0:49:29which is where a lot of people do their entertaining nowadays,
0:49:29 > 0:49:32so I really, really like the layout here.
0:49:32 > 0:49:37So, has Sam's total investment of £806,000 earned a profit?
0:49:38 > 0:49:42I would list the property up at £850,000.
0:49:42 > 0:49:45I'd recommend putting this property on the market
0:49:45 > 0:49:47for offers in excess of 800,000.
0:49:47 > 0:49:51The top figure would generate, before taxes and expenses,
0:49:51 > 0:49:54a profit of £44,000.
0:49:54 > 0:49:59I hope to sell for something between 850 and 900.
0:49:59 > 0:50:01The more, the merrier,
0:50:01 > 0:50:05and considering how much I've put in and all that,
0:50:05 > 0:50:07850, minimum.
0:50:07 > 0:50:08But don't forget their costs
0:50:08 > 0:50:11include the purchase of the neighbouring land.
0:50:11 > 0:50:14I'm looking forward to the next one which is next door,
0:50:14 > 0:50:17and we put in our planning permission.
0:50:17 > 0:50:20So hopefully, we'll be looking at a profit of over half a million,
0:50:20 > 0:50:25or about half a million, which makes it, you know, a good deal.
0:50:25 > 0:50:28And who wouldn't like to take that to the bank?
0:50:31 > 0:50:33Back now to the Wales-England border
0:50:33 > 0:50:35and the Monmouthshire village of Sudbrook
0:50:35 > 0:50:39which originated because of the Second Severn Crossing.
0:50:39 > 0:50:42I looked around this sprawling mid-terrace,
0:50:42 > 0:50:47bought by builder Roger and care assistant Ann for £88,500.
0:50:50 > 0:50:52# The old house
0:50:52 > 0:50:55# Is still standing
0:50:55 > 0:50:59# Though the paint is cracked and dry... #
0:50:59 > 0:51:02What's the plan in terms of doing the work?
0:51:02 > 0:51:03I'm going to oversee the work,
0:51:03 > 0:51:07Ashley, my son, is going to do a lot of the heavy work, shall we say.
0:51:07 > 0:51:09- Right.- Demolition is his speciality.
0:51:09 > 0:51:11Oh, is it?
0:51:11 > 0:51:12And then I'll oversee him,
0:51:12 > 0:51:15and it's to give him a training as well...
0:51:15 > 0:51:16- Oh, great.- ..to be a builder
0:51:16 > 0:51:19and come in to make it a family business.
0:51:19 > 0:51:22- And he's cheap?- He's cheap, he's very cheap.
0:51:22 > 0:51:24He'll also need to do a quality job
0:51:24 > 0:51:28as Roger and Ann intend to make this their home.
0:51:28 > 0:51:31And what about you, Ann, are you going to be involved at all?
0:51:31 > 0:51:33I'll put my stamp on it, yes,
0:51:33 > 0:51:35I'll be doing painting and decorating
0:51:35 > 0:51:37and pulling down walls if I want to.
0:51:37 > 0:51:38Ann is the boss really.
0:51:38 > 0:51:39Really?
0:51:39 > 0:51:41THEY LAUGH
0:51:41 > 0:51:45I think you'll find there's only one boss and that's Bruce.
0:51:45 > 0:51:48Anyway, back to Roger and Ann.
0:51:48 > 0:51:54Back in 2014, they were living a 40-minute commute away in Wiltshire,
0:51:54 > 0:51:57and it was clear to see that there would be plenty of work
0:51:57 > 0:52:01for Roger's son, Ashley, to wield his sledgehammer.
0:52:01 > 0:52:04Now, don't get me wrong, I'm generally a fan of open-plan living,
0:52:04 > 0:52:08but not when it comes to an absence of bedroom walls.
0:52:08 > 0:52:11At least that lack of demolition work upstairs
0:52:11 > 0:52:14might give Ashley a chance to complete
0:52:14 > 0:52:16in the ambitious six-to-eight-week timescale.
0:52:16 > 0:52:20And Roger had a plan to help with Ashley's commute time.
0:52:20 > 0:52:22Ashley is going to be here camped out on a bed.
0:52:22 > 0:52:24- Is he?- Yeah, yeah.
0:52:24 > 0:52:26Does he know yet?
0:52:26 > 0:52:28We have told him, he's quite happy.
0:52:28 > 0:52:31Right, before or after the central heating is put in?
0:52:31 > 0:52:32Probably after.
0:52:32 > 0:52:34THEY LAUGH
0:52:34 > 0:52:37One of their major plans was to extend at the back of the house
0:52:37 > 0:52:40through the tired, old kitchen.
0:52:40 > 0:52:42We're back to see the results two years on.
0:52:47 > 0:52:52# Take me home with you... #
0:52:54 > 0:52:57They've raised the downstairs floor and installed a timber one
0:52:57 > 0:52:59with one level throughout.
0:53:02 > 0:53:08# Take me home with you... #
0:53:08 > 0:53:12Roger insulated the walls and faced them with plasterboard.
0:53:12 > 0:53:16It meant losing a bit of square footage, but it was well worth it.
0:53:22 > 0:53:25The remaining rooms have all undergone remarkable change.
0:53:32 > 0:53:37The front room now has a simulated wood burner on the diagonal,
0:53:37 > 0:53:40taking up much less space than the previous chimney breast.
0:53:42 > 0:53:47And that funny, long, narrow room is now an office.
0:53:47 > 0:53:53# Take me home with you... #
0:53:53 > 0:53:56Further down the hall is a small utility and shower room
0:53:56 > 0:53:58with WC under the stairs.
0:54:02 > 0:54:07# Take me home with you... #
0:54:09 > 0:54:12The master bedroom has an en-suite shower room.
0:54:16 > 0:54:19At the top of the stairs is the new family bathroom,
0:54:19 > 0:54:23and, at the other side of the house where there were no bedroom walls,
0:54:23 > 0:54:25is Ashley's double room next to a single.
0:54:29 > 0:54:32Remember that hole in the loft?
0:54:32 > 0:54:35Well, it's now big enough to accommodate a staircase
0:54:35 > 0:54:38into the attic room with views over the Bristol Channel.
0:54:41 > 0:54:45Now to the story behind this achievement.
0:54:45 > 0:54:49We moved in about nine months after starting the project.
0:54:49 > 0:54:51Basically, we didn't want to keep commuting,
0:54:51 > 0:54:54so we got some rooms finished and then moved in.
0:54:54 > 0:54:56And then we've currently been living here
0:54:56 > 0:54:58and working on it for about 15 months.
0:54:58 > 0:55:02Did Ashley learn some building skills as planned?
0:55:02 > 0:55:04He's done a lot of the demolition,
0:55:04 > 0:55:06a lot of the labour inside for us,
0:55:06 > 0:55:09and he's learnt loads since we started.
0:55:09 > 0:55:12We decided we ought to pay Ashley in more than just beer,
0:55:12 > 0:55:15so we did give him wages as well to help him out.
0:55:17 > 0:55:21Ashley's wages were an additional budget line-item,
0:55:21 > 0:55:23but were possible because Roger and Ann
0:55:23 > 0:55:26recycle materials like brick from the fireplaces.
0:55:26 > 0:55:28Speaking of bricks...
0:55:29 > 0:55:32Yeah, I knocked that wall down, didn't I?
0:55:32 > 0:55:35Yeah, we actually have a picture of Ann pushing walls over in the house.
0:55:35 > 0:55:36It's lovely.
0:55:40 > 0:55:42So has all this DIY saved some money?
0:55:42 > 0:55:44We've done a lot of additional work
0:55:44 > 0:55:47that we hadn't planned initially
0:55:47 > 0:55:51so that the budget is now about £47,500.
0:55:51 > 0:55:53Besides planning permission,
0:55:53 > 0:55:55what were the main delays on the timescale?
0:55:55 > 0:55:57We got married,
0:55:57 > 0:56:00we've bought a motorhome and done lots of travelling,
0:56:00 > 0:56:03so this is why the house has taken a bit longer than initially planned.
0:56:03 > 0:56:06Well, that's a good reason for a delay.
0:56:06 > 0:56:08And to see if it's all been worth it,
0:56:08 > 0:56:11we called in two estate agents for their opinions and valuations
0:56:11 > 0:56:17on the project which has had a total cost of £136,000.
0:56:18 > 0:56:22First up, the agent who saw the property before work commenced.
0:56:22 > 0:56:23The finish is really good,
0:56:23 > 0:56:25there are certain parts of the building
0:56:25 > 0:56:28that just blow you away like the kitchen open-plan
0:56:28 > 0:56:29into the dining area,
0:56:29 > 0:56:31and the doors out onto the garden.
0:56:31 > 0:56:34The extra bedroom in the loft is a great addition
0:56:34 > 0:56:36and will appeal to families.
0:56:36 > 0:56:39The standard of the finish of the property is that they have
0:56:39 > 0:56:42actually done this property to live in rather than sell on,
0:56:42 > 0:56:45so they've done it incredibly well.
0:56:45 > 0:56:49But should they decide to sell, what is the state of the market?
0:56:49 > 0:56:52The market has certainly improved since we were last here.
0:56:52 > 0:56:54Activity levels have increased,
0:56:54 > 0:56:57prices have increased, and it's all good news, really.
0:56:57 > 0:57:00But is the good news enough for Bob and Ann to make a profit
0:57:00 > 0:57:04on their £136,000 investment?
0:57:04 > 0:57:07On the current market, this property could list for, and achieve,
0:57:07 > 0:57:12in the region of £215,000 to £220,000.
0:57:12 > 0:57:16I would expect it to go on the market for about £220,000
0:57:16 > 0:57:21with scope to negotiate down to maybe about £215,000.
0:57:21 > 0:57:25That is a potential profit of £84,000 minus taxes and fees.
0:57:25 > 0:57:30Interesting, but this is Roger and Ann's home, so they wouldn't sell...
0:57:30 > 0:57:32would they?
0:57:32 > 0:57:34We had decided to live in it ourselves,
0:57:34 > 0:57:39but we actually came across another project very close to here
0:57:39 > 0:57:41that was too good an opportunity to miss,
0:57:41 > 0:57:43so we've actually sold the property,
0:57:43 > 0:57:46and hope to be moving in the next couple of months.
0:57:46 > 0:57:49By the sound of things, Ashley has another big job ahead of him.
0:57:49 > 0:57:51Good luck, Ashley.
0:57:55 > 0:57:59We'll have plenty more property auction stories next time,
0:57:59 > 0:58:02some with happy endings and some with not so.
0:58:02 > 0:58:04Well, make sure you join us whatever,
0:58:04 > 0:58:06here on Homes Under The Hammer.
0:58:06 > 0:58:07- Goodbye.- Bye for now.