0:00:02 > 0:00:05Hello, and welcome to the show. Now, each property developing project
0:00:05 > 0:00:07throws up its own challenges -
0:00:07 > 0:00:08a unique set each time -
0:00:08 > 0:00:11and you never do quite know what's going to happen.
0:00:11 > 0:00:12No, and that's why we always say,
0:00:12 > 0:00:15"You've got to visit the property beforehand
0:00:15 > 0:00:17"and you have to read the legal pack."
0:00:17 > 0:00:19Yes. Following these simple rules can be the difference between
0:00:19 > 0:00:22making a tidy profit or falling flat on your face
0:00:22 > 0:00:24when you buy your home under the hammer.
0:00:51 > 0:00:54There are some situations in life when you can get carried away
0:00:54 > 0:00:57with the atmosphere and get lost in the moment.
0:00:57 > 0:00:58That's right, Dion,
0:00:58 > 0:01:01and the auction house is definitely one of those places,
0:01:01 > 0:01:03so it's important to keep your calm.
0:01:03 > 0:01:07Yes. And even if all those around you get auction fever,
0:01:07 > 0:01:09you need to keep a level head.
0:01:09 > 0:01:12Let's hope that's what today's buyers did.
0:01:14 > 0:01:17This semi in Carlisle didn't have a room with a view -
0:01:17 > 0:01:19it had a room with a loo.
0:01:19 > 0:01:22Despite there being...a toilet in here.
0:01:24 > 0:01:29No matter which way you view it, this plot in Derby is pretty narrow.
0:01:29 > 0:01:324-5 metres in width, it's not big.
0:01:34 > 0:01:38And in Alsagers Bank, I spied a semi with some spectacular views.
0:01:38 > 0:01:41This, to me, sells this house.
0:01:41 > 0:01:43You would buy it because of this, wouldn't you?
0:01:45 > 0:01:47All these properties have been sold at auction,
0:01:47 > 0:01:49and we'll find out who bought them
0:01:49 > 0:01:52and what they paid for them when they went under the hammer.
0:01:52 > 0:01:53Well done.
0:01:56 > 0:01:58The River Eden carves a boundary
0:01:58 > 0:02:01between the counties of North Yorkshire and Cumbria.
0:02:01 > 0:02:04It eventually flows into the Solway Firth
0:02:04 > 0:02:07after winding through Carlisle, where I am today.
0:02:09 > 0:02:11I'm a mile from the city centre
0:02:11 > 0:02:15and the property I'm here to see today is a three-bedroomed
0:02:15 > 0:02:20semidetached house with a guide price of £70,000 plus.
0:02:20 > 0:02:23Now, it said in the auction catalogue
0:02:23 > 0:02:26it was in need of repair throughout.
0:02:26 > 0:02:30Not a good start. But...a bit of front garden.
0:02:30 > 0:02:32Off-street parking. Looks OK.
0:02:32 > 0:02:34Let's have a look.
0:02:40 > 0:02:41Right...
0:02:42 > 0:02:46OK, this house is stripped back to the bare brick.
0:02:46 > 0:02:49Now, there is a reason for that.
0:02:49 > 0:02:54Late 2015, Carlisle was hit with some devastating floods
0:02:54 > 0:02:58and affected over 2,000 houses,
0:02:58 > 0:03:00and this was one of those houses.
0:03:00 > 0:03:04You can see from how much plaster has been taken off the walls
0:03:04 > 0:03:07how high that water must've been.
0:03:07 > 0:03:10It must have been a very hard time when that water came down.
0:03:10 > 0:03:13I'm just glad to see the area is getting back on its feet
0:03:13 > 0:03:16and these houses are going to be used again.
0:03:16 > 0:03:19Right, what have we got? Aside from that, you've got a nice porch area.
0:03:19 > 0:03:22The stairs going up to the bedrooms.
0:03:22 > 0:03:24Now, this is the lounge,
0:03:24 > 0:03:27despite there being...a toilet in here,
0:03:27 > 0:03:30and a good-size lounge at that.
0:03:30 > 0:03:33Into what would have been the dining area.
0:03:33 > 0:03:35You've got what would have been doors here.
0:03:35 > 0:03:37I'd be inclined to leave that open, maybe.
0:03:37 > 0:03:38OK, not a bad size at all.
0:03:38 > 0:03:41Kitchen would have been here, dining area would have been there.
0:03:41 > 0:03:45You've got patio doors going out into the garden.
0:03:45 > 0:03:47And in this extension here
0:03:47 > 0:03:51would be the utility room and, right at the end, you've got a toilet.
0:03:51 > 0:03:54Good size, actually, down here, very surprised how much space there is.
0:03:54 > 0:03:58I like the way it flows. Yes, there's nothing in here
0:03:58 > 0:04:01at present, but I like that. You're starting from scratch.
0:04:01 > 0:04:05# Started from the bottom now we're here
0:04:05 > 0:04:07# Started from the bottom now the whole team here... #
0:04:07 > 0:04:11Yes, you may well be starting from the bottom,
0:04:11 > 0:04:13but the good thing here is that the house
0:04:13 > 0:04:16comes with a drying-out certificate. That means that the house is deemed
0:04:16 > 0:04:20properly dried and has the green light for refurbishment.
0:04:20 > 0:04:22One of the first things on my list
0:04:22 > 0:04:24would be getting the electrics checked out
0:04:24 > 0:04:26by a qualified professional.
0:04:26 > 0:04:30It looks like the house did have the sockets raised in case of floods,
0:04:30 > 0:04:33but it seems like it will still need new wiring.
0:04:33 > 0:04:37You can see how high that water level must've been.
0:04:37 > 0:04:38The bottom four steps,
0:04:38 > 0:04:42the carpet has been taken off and this has been left,
0:04:42 > 0:04:46so obviously it's getting drier and drier the further you get away
0:04:46 > 0:04:48from that flood damage downstairs.
0:04:48 > 0:04:51Upstairs, we have got three bedrooms.
0:04:51 > 0:04:53Two really good-sized bedrooms there,
0:04:53 > 0:04:58double bedrooms, and behind me here you've got more of a box bedroom.
0:04:58 > 0:05:01Looks more like a nursery for a child or an office,
0:05:01 > 0:05:04depending on what you want to use the house for.
0:05:04 > 0:05:07And there you've got a really good-sized family bathroom
0:05:07 > 0:05:10in good condition. All the tiles look OK, the flooring looks OK.
0:05:10 > 0:05:13You definitely would be able to keep that.
0:05:14 > 0:05:16I like it up here. Upstairs,
0:05:16 > 0:05:18you haven't let me down.
0:05:18 > 0:05:21So things are looking up in this house.
0:05:21 > 0:05:25Upstairs won't need anywhere near as much work as downstairs
0:05:25 > 0:05:28and, out back, I may just have found another plus.
0:05:28 > 0:05:33So outside, into the back garden, and it's not a bad size.
0:05:33 > 0:05:36Now, you have got this existing extension.
0:05:36 > 0:05:38Why not think about extending that?
0:05:38 > 0:05:40You've got this void space here.
0:05:40 > 0:05:42Could you put a wall all across here?
0:05:42 > 0:05:44You could have your double doors here,
0:05:44 > 0:05:46coming out into the back garden,
0:05:46 > 0:05:48and all this could be inside space.
0:05:48 > 0:05:49Kitchen-diner, maybe.
0:05:49 > 0:05:53It's just an option and, of course, you'd have to check with planning.
0:05:53 > 0:05:56And it would still leave you your little bit of green back garden.
0:05:56 > 0:06:00One thing I will say, it's a nice, solid house.
0:06:00 > 0:06:02# Solid
0:06:04 > 0:06:06# Solid as a rock... #
0:06:08 > 0:06:11But is it a solid investment?
0:06:11 > 0:06:15We've asked along the auctioneer from the auction house who sold it
0:06:15 > 0:06:18to see what he thinks of a potential extension.
0:06:18 > 0:06:21I think an extension would affect the value of the property.
0:06:21 > 0:06:24But most people who carry out extensions
0:06:24 > 0:06:25are not for financial reasons,
0:06:25 > 0:06:27especially if you're buying it to live in.
0:06:27 > 0:06:29But it's not the end of the world if it's not extended.
0:06:29 > 0:06:31It's very sellable.
0:06:32 > 0:06:36As if there hadn't been enough misery for the house owners,
0:06:36 > 0:06:39it's not just the damage and destruction that's been the issue
0:06:39 > 0:06:43here. Consequently, house prices have been affected negatively.
0:06:43 > 0:06:46But are they likely to recover?
0:06:47 > 0:06:51I think the recovery of prices depends on the availability
0:06:51 > 0:06:54of buildings insurance. If people can get buildings insurance,
0:06:54 > 0:06:55they can get mortgages.
0:06:55 > 0:06:59If people can get mortgages, that then fuels the recovery.
0:06:59 > 0:07:02But I would hope that you would see a recovery in prices
0:07:02 > 0:07:04within three or four years.
0:07:04 > 0:07:08So bearing in mind the house is guided at 70 grand plus,
0:07:08 > 0:07:12what could the value potentially be if that recovery happens?
0:07:13 > 0:07:17I mean, if this property was exposed to the sales market
0:07:17 > 0:07:19prior to the floods,
0:07:19 > 0:07:23you probably achieve a figure in and around £135,000.
0:07:26 > 0:07:30OK, apart from the obvious on that ground floor,
0:07:30 > 0:07:32for a guide price of £70,000 plus,
0:07:32 > 0:07:36I think you're getting a lot of bricks and mortar for your money,
0:07:36 > 0:07:38minus the plaster, of course.
0:07:38 > 0:07:41I think this could be a very good project to take on.
0:07:41 > 0:07:44Let's see who agreed when it went under the hammer.
0:07:44 > 0:07:4870 is the guide on this one. Three-bedroom semidetached house.
0:07:48 > 0:07:50At £60,000, we will move on if there is no bids.
0:07:50 > 0:07:5255 I'm bid, 56?
0:07:52 > 0:07:5457, 58,
0:07:54 > 0:07:5559, 60,
0:07:55 > 0:07:5861, 62, 63,
0:07:58 > 0:08:0064, 65, 66,
0:08:00 > 0:08:0167, 68,
0:08:01 > 0:08:0369 and 70.
0:08:03 > 0:08:0571, 72, 73 then,
0:08:05 > 0:08:0874, shake of the head here at £73,000.
0:08:08 > 0:08:11I'll take a half - if not, I'm selling this.
0:08:11 > 0:08:13Half I've got. 73 and a half.
0:08:13 > 0:08:1574? 74 and a half.
0:08:16 > 0:08:18You started it.
0:08:18 > 0:08:2074 here.
0:08:20 > 0:08:25With you, then, been with me all the way, then, it's £74,000.
0:08:25 > 0:08:28First time, second time, all done, selling...
0:08:29 > 0:08:33- Well done.- And paddle number 17 might mean heaven 17
0:08:33 > 0:08:37for purchasers Stephen, who's a joiner, and girlfriend Alex.
0:08:37 > 0:08:40They bought the house for 74 grand.
0:08:41 > 0:08:43We have met Stephen before,
0:08:43 > 0:08:47when he renovated a Carlisle property back in 2014,
0:08:47 > 0:08:50but it's Alex who I'm meeting back at the property this time.
0:08:52 > 0:08:55- Alex, nice to meet you.- Nice to meet you.- Congratulations.
0:08:55 > 0:08:56Thank you very much.
0:08:56 > 0:08:58Before we go into the house, tell us about the auction.
0:08:58 > 0:09:02- How was that for you?- Well, I was quite nervous at the auction,
0:09:02 > 0:09:04so I let my boyfriend Stephen do all of the bidding
0:09:04 > 0:09:06because he's been at auction before.
0:09:06 > 0:09:08I kind of just sat back and agreed
0:09:08 > 0:09:10how much he was allowed to bid.
0:09:10 > 0:09:12So have you looked in this area for a while?
0:09:12 > 0:09:16I have, yeah. We just thought it was the ideal time to buy,
0:09:16 > 0:09:18with the price being so good.
0:09:18 > 0:09:20With my boyfriend being able
0:09:20 > 0:09:24to do up properties, it wasn't too much...off-putting
0:09:24 > 0:09:26with the work that needed to be done.
0:09:26 > 0:09:29This house was flooded when it was terrible in this area.
0:09:29 > 0:09:32- Yeah.- Everything just got destroyed.
0:09:32 > 0:09:34- Did it not put you off at all? - It did at first.
0:09:34 > 0:09:37I've kind of been brought around to the idea. I've had a look
0:09:37 > 0:09:40at some of the houses that my boyfriend's done up after
0:09:40 > 0:09:43the floods and he's talked me through different measures
0:09:43 > 0:09:45that you're able to put in place.
0:09:45 > 0:09:47So, just concreting the floor, moving the electrics higher,
0:09:47 > 0:09:50putting in a flood-proof front door.
0:09:50 > 0:09:53And I've seen how quickly other people have been able to get in and
0:09:53 > 0:09:56we checked out that we would be able to get the property fully insured
0:09:56 > 0:09:58and everything first before we went for it.
0:09:58 > 0:10:01So I've kind of come around and, when I came around to look around,
0:10:01 > 0:10:03I loved it. And, for us,
0:10:03 > 0:10:06a three-bedroom property for our first one to live in is ideal.
0:10:06 > 0:10:08Ah, so you're going to be living in this?
0:10:08 > 0:10:11- Yeah, we're going to be living in it.- Fantastic.
0:10:11 > 0:10:12We did one up previously.
0:10:12 > 0:10:15We did that one up and we sold that one and he did a really good job,
0:10:15 > 0:10:18so I'm hoping he does this one to the same standard.
0:10:18 > 0:10:20And you can actually start from scratch
0:10:20 > 0:10:22and put your own touches on it and stuff.
0:10:22 > 0:10:23Tell us what you're going to do.
0:10:23 > 0:10:26We're looking at having a vestibule at the front and then a wraparound
0:10:26 > 0:10:29extension. So we're looking at a garage down the side,
0:10:29 > 0:10:32because my boyfriend really needs a garage for his work -
0:10:32 > 0:10:36to store all of his tools. And then it will lead into a utility room,
0:10:36 > 0:10:40and then a downstairs bathroom that will lead
0:10:40 > 0:10:42into a big open-plan kitchen.
0:10:42 > 0:10:45And we're just going to focus on downstairs for now,
0:10:45 > 0:10:48leave upstairs and just decorate and maybe spruce up the bathroom
0:10:48 > 0:10:51a little bit. And then, in the future, we've seen that
0:10:51 > 0:10:55a couple of properties around here have extended into the loft
0:10:55 > 0:10:59and put a dormer window in and an en-suite, so we will look at doing that
0:10:59 > 0:11:01in the future, but for now we're just going to focus on down here.
0:11:01 > 0:11:03That is...that is huge.
0:11:03 > 0:11:05Yeah.
0:11:05 > 0:11:09I'm blown away by the enthusiasm and the length of the to-do list.
0:11:09 > 0:11:12Alex and Stephen hope to create a terrific home
0:11:12 > 0:11:15in six to eight months, and they have the skills to hand.
0:11:16 > 0:11:20We are quite lucky because my boyfriend's dad is a builder,
0:11:20 > 0:11:23so he'll be able to do all of the building sort of work for us
0:11:23 > 0:11:27and with us. And my boyfriend is a joiner and a window fitter,
0:11:27 > 0:11:30so he'll be able to do all of that sort of thing
0:11:30 > 0:11:32and make my sort of dream interior come true.
0:11:32 > 0:11:34You've got it all worked out, haven't you?
0:11:34 > 0:11:37- You've got it all worked out. You've got builders, joiners.- Yeah.
0:11:37 > 0:11:40No doubt they've got friends as well that can do work for you as well.
0:11:40 > 0:11:43Yeah, he's got a best friend in the roofing trade as well,
0:11:43 > 0:11:45so he'll be able to sort of help us out.
0:11:45 > 0:11:48- So it's all about who you know. - It's being very clever.- Yeah.
0:11:48 > 0:11:50You're being very clever. Now, you double checked
0:11:50 > 0:11:53- all of the drying-out certificates? - Oh, yeah, yeah,
0:11:53 > 0:11:56it came with a pack and we checked all of those things out before.
0:11:56 > 0:11:59And what about lending, to buy the house, all that kind of stuff?
0:11:59 > 0:12:02We've been quite lucky, really. We've been able to use
0:12:02 > 0:12:05a lot of the money from the last property to help us with this one,
0:12:05 > 0:12:09so we're all sort of sorted. We've roughly got in mind about £20,000.
0:12:09 > 0:12:11- OK.- That's just for building material
0:12:11 > 0:12:15because Stephen and his dad will be doing a lot of the work themselves.
0:12:15 > 0:12:16What will you be doing?
0:12:16 > 0:12:19What's your role? What's your title going to be on this project?
0:12:19 > 0:12:22- I work as a primary school teacher in a local school.- OK.
0:12:22 > 0:12:24So I'm going to the off for the holidays,
0:12:24 > 0:12:27so I'll be helping them as much as possible.
0:12:27 > 0:12:29- I'm not very handy.- So a teacher that's got a bit of time off
0:12:29 > 0:12:32at the moment. You're now going to become project manager.
0:12:32 > 0:12:33- Yeah.- That's a nice title.
0:12:33 > 0:12:35Looking after the budget.
0:12:35 > 0:12:38Good on you. So, 20 grand, six to eight months.
0:12:38 > 0:12:42- Yeah.- We'll be back, and what are we going to find when we come back?
0:12:42 > 0:12:44Hopefully a finished property
0:12:44 > 0:12:48and, fingers crossed, we've started on the upstairs work as well.
0:12:48 > 0:12:50- So I'll be in touch.- Can't wait.
0:12:50 > 0:12:52- Great.- Good luck to you, OK? - Thank you very much.
0:12:52 > 0:12:55- Alex, I wish you all the best. - Thanks.- Take care.
0:12:55 > 0:12:57Now, there is a confident lady who knows what she wants.
0:12:57 > 0:13:00She also knows how to future-proof this house.
0:13:00 > 0:13:03She's got her partner Stephen and his dad,
0:13:03 > 0:13:06who will be doing most of the work on this grand makeover.
0:13:06 > 0:13:09But that 20 grand is going to be pushed to the limit.
0:13:09 > 0:13:12You can find out how they get on later in the programme.
0:13:16 > 0:13:19Our next property takes me to the outskirts of Derby.
0:13:19 > 0:13:22If you follow the Derwent River north of the city centre,
0:13:22 > 0:13:26you enter the Derwent Valley Mills World Heritage Site.
0:13:26 > 0:13:30This protected area was once an extremely important location
0:13:30 > 0:13:32in Britain's Industrial Revolution.
0:13:32 > 0:13:37Many of the water mills and settlements involved in the production of textiles
0:13:37 > 0:13:41in the 18th and 19th centuries have been carefully preserved.
0:13:41 > 0:13:44However, you're more than likely to find digital and creative
0:13:44 > 0:13:48businesses in these refurbished buildings today.
0:13:48 > 0:13:52So, will our property in nearby Breadsall Hilltop offer us
0:13:52 > 0:13:54more of the past or the present?
0:13:54 > 0:13:56The property I'm here to see,
0:13:56 > 0:13:58well, it isn't actually a property yet.
0:13:58 > 0:14:00It is just a plot of land for now.
0:14:00 > 0:14:04But I happen to know it does come with planning permission
0:14:04 > 0:14:06for a two-storey, two-bedroom detached house,
0:14:06 > 0:14:09so this might require a little bit of imagination.
0:14:09 > 0:14:12It had a guide price of £28,000.
0:14:12 > 0:14:13It's time to get creative.
0:14:13 > 0:14:17# Well, it's just my imagination... #
0:14:17 > 0:14:21You know, it never fails to amaze me where you can actually squeeze a
0:14:21 > 0:14:25house onto, so this piece of land effectively is someone's driveway.
0:14:25 > 0:14:28It looks like the house next door has sold it.
0:14:28 > 0:14:32And do you know what? Good on them for getting creative
0:14:32 > 0:14:34because this is, by my reckoning, let's see -
0:14:34 > 0:14:38one, two, three, four, metres - four, five metres in width.
0:14:38 > 0:14:42It's not big and it does require some imagination
0:14:42 > 0:14:47as to how exactly this is going to work. Give me a minute.
0:14:48 > 0:14:52# With a little imagination
0:14:52 > 0:14:57# You will find the world can be left behind
0:14:57 > 0:15:02# Life can be delicious with wishes in your mind
0:15:02 > 0:15:06# With a little imagination You can be
0:15:06 > 0:15:09# The one to make history
0:15:09 > 0:15:13# And though you're small You feel tall as a poplar tree... #
0:15:17 > 0:15:20So I've had a think, and it is actually workable.
0:15:20 > 0:15:22OK, this wouldn't be your BIGGEST house,
0:15:22 > 0:15:24but you could do well, get everything in proportion.
0:15:24 > 0:15:27And what this property WOULD have going for it
0:15:27 > 0:15:30is that it's a detached house in a road of semis.
0:15:30 > 0:15:32# Just stand out
0:15:34 > 0:15:37# I think you ought to stand out
0:15:38 > 0:15:41# So I can see wherever you are... #
0:15:41 > 0:15:44That's good as detached properties are generally worth more
0:15:44 > 0:15:48than terraced houses. And you'll have access from the streets
0:15:48 > 0:15:50to the back of the property,
0:15:50 > 0:15:53so you won't have to trudge your bins through the house.
0:15:53 > 0:15:56Having had a look at the plans, good use has been made
0:15:56 > 0:15:58of the limited space, with living accommodation
0:15:58 > 0:16:00and a cloakroom on the ground floor,
0:16:00 > 0:16:04and two good-sized bedrooms and master on the first.
0:16:05 > 0:16:07Now, at this stage,
0:16:07 > 0:16:10I'd normally start thinking about all those planning requirements -
0:16:10 > 0:16:13the things you have to think of before even submitting
0:16:13 > 0:16:15your planning application -
0:16:15 > 0:16:18but that's all been done for you because it comes with permission.
0:16:18 > 0:16:21So they've thought about not overlooking the neighbours,
0:16:21 > 0:16:23they've thought about off-street parking -
0:16:23 > 0:16:25all those boxes have been ticked.
0:16:25 > 0:16:29What's also great is that you're in a heavily residential area,
0:16:29 > 0:16:32so your services, your water, electricity,
0:16:32 > 0:16:35close by, should not be a problem.
0:16:35 > 0:16:38In property, there is no such thing as a sure bet,
0:16:38 > 0:16:41but this feels pretty low risk.
0:16:44 > 0:16:46Time to get a second opinion.
0:16:46 > 0:16:49What did the auctioneer from the auction house who sold it
0:16:49 > 0:16:53think of this cracking wee opportunity, guided at £28,000?
0:16:54 > 0:16:58My thoughts on this plot are it's a relatively small plot.
0:16:58 > 0:17:01It really is beneficial for somebody to buy something that already has
0:17:01 > 0:17:04planning permission because you are shortening that time that it takes
0:17:04 > 0:17:06from the time that you purchased it
0:17:06 > 0:17:07to the point that you can get your money back
0:17:07 > 0:17:09because you can start work immediately.
0:17:09 > 0:17:12So the advantage is that they can put a spade in the ground and get
0:17:12 > 0:17:16on with things, and hopefully bring this back to the market before the winter.
0:17:17 > 0:17:21So you could be in and out of this build very quickly.
0:17:21 > 0:17:22How much is it likely to cost?
0:17:23 > 0:17:26I would think, to build this in line with the current application
0:17:26 > 0:17:28as a two-bedroom detached property,
0:17:28 > 0:17:32you'd be looking at spending somewhere in the region of £75,000.
0:17:32 > 0:17:35Projected build costs of 75 grand, plus a further 28
0:17:35 > 0:17:38if you got it for the guide price,
0:17:38 > 0:17:43that would give the potential buyer outgoings of £103,000.
0:17:43 > 0:17:46So, what kind of return could you see on your investment?
0:17:46 > 0:17:48On today's sales market,
0:17:48 > 0:17:50I would anticipate this property,
0:17:50 > 0:17:53if built in line with application as a two-bedroom detached,
0:17:53 > 0:17:56would achieve somewhere in the region of £125,000.
0:17:56 > 0:18:00On the face of it, this plot of land is hardly inspiring.
0:18:00 > 0:18:03But it does come with guaranteed planning permission
0:18:03 > 0:18:07and you could use your imagination to make this incredibly inspiring.
0:18:07 > 0:18:11You start off with nothing and you build something.
0:18:11 > 0:18:14Let's find out who shared my enthusiasm when it went to auction.
0:18:16 > 0:18:20A great opportunity, ladies and gentleman. A flat and level site.
0:18:20 > 0:18:23Guide price today is £28,000.
0:18:23 > 0:18:25At 24,000, here.
0:18:25 > 0:18:26At 24,000 I have.
0:18:26 > 0:18:2825 now?
0:18:28 > 0:18:2925, thank you.
0:18:29 > 0:18:31Against you, 26.
0:18:31 > 0:18:3427? 27, 28?
0:18:34 > 0:18:3528 is bid.
0:18:35 > 0:18:3729 now? 30.
0:18:37 > 0:18:40Take the half. 29 and a half.
0:18:40 > 0:18:4230,000?
0:18:42 > 0:18:45No? At 29,500, then, for the first time.
0:18:45 > 0:18:48At 29,500 for the second time.
0:18:48 > 0:18:4930, thank you.
0:18:49 > 0:18:51And a half again?
0:18:51 > 0:18:54No. £30,000 here on the back wall.
0:18:54 > 0:18:56It's against you, try another half.
0:18:56 > 0:18:59At £30,000, then, I shall sell for the first time.
0:18:59 > 0:19:01For the second time.
0:19:01 > 0:19:05You're out. At £30,000 with you, sir, for the third and final time.
0:19:05 > 0:19:08Hammer is up, fair warning it goes.
0:19:08 > 0:19:09It's gone, it's yours, sir.
0:19:09 > 0:19:12Paddle number 115 at £30,000, and thank you.
0:19:14 > 0:19:17Straying just £2,000 over the guide price
0:19:17 > 0:19:22and getting the plot for 30 grand on the day was Kevin on the right.
0:19:22 > 0:19:25He came along with his business partner James
0:19:25 > 0:19:28to tell me all about their plans for this compact site.
0:19:30 > 0:19:31- Kevin?- Yes.
0:19:31 > 0:19:33- Pleased to meet you. - Pleased to meet you.
0:19:33 > 0:19:35- James.- Pleased to meet you, Martel.
0:19:35 > 0:19:37Congratulations, you got yourself a piece of land.
0:19:37 > 0:19:41- Thank you very much.- Thank you. - What's the relationship here?
0:19:41 > 0:19:45Well, me and Kevin, I've known him for about 25-28 years.
0:19:45 > 0:19:47We do taekwondo together.
0:19:47 > 0:19:49When I first opened the club in Burton,
0:19:49 > 0:19:52he was one of the first guys to come along and
0:19:52 > 0:19:55at the time I thought he was a bit rough. You know,
0:19:55 > 0:19:58when he came in with his hair down to the back of his legs and that,
0:19:58 > 0:20:01I thought, "Do I really want him at the club?"
0:20:01 > 0:20:04But he turned out to be one of the bestest guys I've known.
0:20:04 > 0:20:06So, yeah, he's great.
0:20:06 > 0:20:08It was the '80s, big hair was allowed then!
0:20:08 > 0:20:10Yeah!
0:20:10 > 0:20:14So there wasn't instant chemistry, but you, as pals,
0:20:14 > 0:20:16but you soon got chatting and just hit it off?
0:20:16 > 0:20:19Yeah, yeah, over the years. Just hit it off, yeah.
0:20:19 > 0:20:21- Yeah. Yeah.- Nice.
0:20:21 > 0:20:22And do you spend time together?
0:20:22 > 0:20:25Do you go on holidays or anything like that?
0:20:25 > 0:20:27No, no, I wouldn't go that far!
0:20:27 > 0:20:29It's purely business now.
0:20:29 > 0:20:31Purely business now.
0:20:31 > 0:20:34We teach separate taekwondo clubs now anyway,
0:20:34 > 0:20:36so he does his own thing, I do my thing.
0:20:36 > 0:20:38- So you're actual taekwondo teachers?- Yeah, we teach, yeah.
0:20:38 > 0:20:41- Yeah, we do, yeah.- Get you!
0:20:41 > 0:20:44And any moves you could share with us?
0:20:44 > 0:20:45We could, but we'd have to kill you.
0:20:47 > 0:20:50# Everybody was kung fu fighting
0:20:50 > 0:20:55# Those kicks were fast as lightning... #
0:20:55 > 0:20:58While the guys teach martial arts in their spare time,
0:20:58 > 0:21:03these taekwondo-it-yourselfers are actually well-qualified.
0:21:03 > 0:21:06Kevin owns a building business and James is a carpenter,
0:21:06 > 0:21:09so they've got plenty of experience.
0:21:09 > 0:21:11But this will be their first project together.
0:21:11 > 0:21:15They're going to follow the plans already granted
0:21:15 > 0:21:17and build a two-storey, two-bed house.
0:21:19 > 0:21:21And did it attract you as first-timers to do it yourself
0:21:21 > 0:21:24that it came with planning permission
0:21:24 > 0:21:25and actually the plans drawn up?
0:21:25 > 0:21:27Well, that was one of the main things, yeah.
0:21:27 > 0:21:30Yeah, it was the big sale that was, really,
0:21:30 > 0:21:32that it had already got planning permission on it.
0:21:32 > 0:21:37Plans drawn up, hadn't got to pay money out for that at all.
0:21:39 > 0:21:43The inherited plans Kevin and James are following
0:21:43 > 0:21:46have two off-street parking spaces at the front.
0:21:46 > 0:21:50You enter through a long hall, with a kitchen on the right
0:21:50 > 0:21:53and a WC on the left, and at the rear of the property
0:21:53 > 0:21:55is an open-plan dining and lounge area.
0:21:57 > 0:21:59Moving upstairs to the first floor,
0:21:59 > 0:22:03there are two equally sized bedrooms and a family bathroom,
0:22:03 > 0:22:05and out back there's a small garden.
0:22:07 > 0:22:09Was there anything about those plans drawn up
0:22:09 > 0:22:11that you weren't happy with?
0:22:11 > 0:22:13It's an enclosed kitchen at the moment
0:22:13 > 0:22:15and I really think it could do with
0:22:15 > 0:22:17opening up and making an open-plan kitchen,
0:22:17 > 0:22:21so as you walk through the front door...it's there in front of you.
0:22:21 > 0:22:24I thought it would be a big sale to actually do that.
0:22:24 > 0:22:26Now, if you're talking about stud walls and it's internal,
0:22:26 > 0:22:29you wouldn't need to go back to planning with that, would you?
0:22:29 > 0:22:31No. As long as they're not structural,
0:22:31 > 0:22:35you can move the walls about as you'd like, really.
0:22:35 > 0:22:40What is your budget for building this two-floor, two-bedroom house?
0:22:40 > 0:22:42- What's your budget?- It's £60,000.
0:22:42 > 0:22:46OK. Sounds quite ambitious and it's a bit lower than the average
0:22:46 > 0:22:50for a build, for a new-build house.
0:22:50 > 0:22:52Why are you going to make it cheaper?
0:22:52 > 0:22:54Because we are doing the work for ourselves.
0:22:54 > 0:22:57We are doing the building, we are doing the carpentry.
0:22:57 > 0:23:01The only extras you pay out is for plumbing and the electric.
0:23:03 > 0:23:06Whereas, if you had to get a team of builders in,
0:23:06 > 0:23:07it would cost a lot more.
0:23:07 > 0:23:10Would be anything from the labouring to finishing the roof.
0:23:10 > 0:23:12And it's a massive job.
0:23:12 > 0:23:15The labouring can really keep down costs.
0:23:15 > 0:23:17Lugging your blocks back and forth.
0:23:17 > 0:23:19Well, the thing is we're not frightened of work,
0:23:19 > 0:23:21that's the main thing, you see.
0:23:21 > 0:23:24We're not frightened of work, we're not frightened of bad weather, so...
0:23:24 > 0:23:28- ..we'll be here.- How long do you think it will take to do this?
0:23:28 > 0:23:31Hopefully we get it built in five months
0:23:31 > 0:23:34and, if we can get sold in six, that's a big bonus.
0:23:34 > 0:23:38As soon as the footings are in, we shall have the for-sale sign up straight away
0:23:38 > 0:23:40because we need to sell it ASAP, really.
0:23:40 > 0:23:44- And are you committing to this? Is this going to be a full-time job? - Oh, totally.
0:23:44 > 0:23:47Yes, we'll be here full-time for five months, start to finish.
0:23:47 > 0:23:51So you really have taken that bold step of saying,
0:23:51 > 0:23:55"We're leaving everything else behind, this is...our other jobs,
0:23:55 > 0:23:58"this is it, we're going to make it a success."
0:23:58 > 0:24:01The bold step with me is working with him for five months!
0:24:01 > 0:24:03Am I doing the right thing?
0:24:04 > 0:24:07I can't wait to see what you do, really can't.
0:24:07 > 0:24:09Best of luck and congratulations again.
0:24:09 > 0:24:12- Thank you very much, thank you. - Thank you very much, Martel.
0:24:12 > 0:24:15For me, the fact that this plot of land already comes
0:24:15 > 0:24:18with planning permission makes an ideal choice
0:24:18 > 0:24:21for a first-time build for Kevin and James.
0:24:21 > 0:24:25I love the fact that they're old pals and that they met each other
0:24:25 > 0:24:26at taekwondo class,
0:24:26 > 0:24:29and hopefully this first project
0:24:29 > 0:24:31will kick start a mini property empire.
0:24:31 > 0:24:34You can find out if it did later in the show.
0:24:34 > 0:24:38Coming up, I visit a semidetached in Alsagers Bank,
0:24:38 > 0:24:40which had some small proportions.
0:24:40 > 0:24:45The third bedroom is absolutely tiny.
0:24:46 > 0:24:50And did this narrow plot in Derby give Kevin and James any rest?
0:24:50 > 0:24:52It's a bit late to be going into the building thing
0:24:52 > 0:24:54because I'm asleep by half past three!
0:24:59 > 0:25:02Time to return to the city of Carlisle,
0:25:02 > 0:25:06where I saw this three-bed semi, guided at 70 grand plus.
0:25:07 > 0:25:11But it was on the inside the awful truth emerged.
0:25:11 > 0:25:15This was one of 2,000 houses in the area that had faced
0:25:15 > 0:25:17devastating flooding in 2015.
0:25:19 > 0:25:22You can see how high that water level must have been.
0:25:22 > 0:25:26The bottom four steps, the carpet has been taken off.
0:25:28 > 0:25:31With hopefully the bad times behind the city,
0:25:31 > 0:25:33this was now a blank canvas,
0:25:33 > 0:25:37so I was thinking an extension might be a great addition.
0:25:37 > 0:25:41# I've got a blank space, baby
0:25:41 > 0:25:42# And I'll write your name... #
0:25:42 > 0:25:46This property had Alex's name written all over it.
0:25:47 > 0:25:53She and her joiner boyfriend Stephen bought it at auction for £74,000.
0:25:54 > 0:25:58Now, to say that Alex had a bit of a to-do list for their new home
0:25:58 > 0:25:59could be a bit of an understatement.
0:25:59 > 0:26:03So, we are looking at a garage down the side because my boyfriend really
0:26:03 > 0:26:06needs a garage for his work - to store all of his tools -
0:26:06 > 0:26:11and then it will lead into a utility room, and then a downstairs bathroom
0:26:11 > 0:26:16that will lead into a big open-plan kitchen. And then, in the future,
0:26:16 > 0:26:19we've seen that a couple of properties around here
0:26:19 > 0:26:22have extended into the loft and put a dormer window in.
0:26:22 > 0:26:26For now, they were happy to do what they could
0:26:26 > 0:26:28with their 20 grand budget.
0:26:29 > 0:26:33Originally, they planned to take six to eight months,
0:26:33 > 0:26:35but we're back well over a year later
0:26:35 > 0:26:40to find out if they've given this property the old razzle-dazzle.
0:26:41 > 0:26:44# Razzle-dazzle
0:26:44 > 0:26:46# Ooh-ooh
0:26:47 > 0:26:49# Razzle-dazzle
0:26:50 > 0:26:53# You've got to razzle
0:26:53 > 0:26:55# You've got to shine
0:26:55 > 0:27:00# You've got to show just where you're going once in a while
0:27:00 > 0:27:03# You've got to dazzle
0:27:03 > 0:27:06# You've got to shine... #
0:27:06 > 0:27:10This is certainly one way to put a bit of glitz and glamour
0:27:10 > 0:27:12into the property.
0:27:12 > 0:27:15The colour scheme flows right into the kitchen.
0:27:19 > 0:27:23Let's get Alex to dazzle us with the changes.
0:27:25 > 0:27:29So, some of the work that was done in here is obviously the extension.
0:27:29 > 0:27:30Where you can see here on the ceiling,
0:27:30 > 0:27:33that was where the existing kitchen finished.
0:27:33 > 0:27:36And there was a small extension at the back that we knocked through.
0:27:36 > 0:27:40We've changed the layout of the kitchen by adding an island
0:27:40 > 0:27:42and putting a sink in the middle, and then we've added
0:27:42 > 0:27:45this dining area over here and the snug at the back.
0:27:45 > 0:27:48And if you lead through the door, you can go to the downstairs
0:27:48 > 0:27:50bathroom and utility and into the garage.
0:27:50 > 0:27:53So I'm really happy with the overall finish of this room.
0:27:56 > 0:27:59They have kept the original layout upstairs,
0:27:59 > 0:28:01furnishing the rooms with their own personal touches.
0:28:22 > 0:28:24I thought the bathroom wasn't bad at all
0:28:24 > 0:28:27and I think they've done the right thing in keeping it.
0:28:27 > 0:28:30They've only had to replace the shower head.
0:28:32 > 0:28:33When we spoke last year,
0:28:33 > 0:28:37Alex thought the loft extension was a plan for the future.
0:28:37 > 0:28:43However, they've used the space from the box room to create a staircase.
0:28:44 > 0:28:46So we have got the planning permission and things
0:28:46 > 0:28:49in place for the loft and make that into the master bedroom,
0:28:49 > 0:28:51but, for now, we're just having a bit of a relax.
0:28:53 > 0:28:55Before Alex and Stephen could relax,
0:28:55 > 0:28:58they had to flood-proof this property.
0:28:58 > 0:29:01To flood-proof the property, we have concreted all the floors,
0:29:01 > 0:29:05so the drying-out process takes a little bit of a shorter time.
0:29:05 > 0:29:08And we've rewired from the ceiling, down,
0:29:08 > 0:29:11so it kind of saves the electrics and things if it was to flood again.
0:29:13 > 0:29:15They have created a fabulous home
0:29:15 > 0:29:18and they have stretched their timescale.
0:29:18 > 0:29:19But as you may have gathered,
0:29:19 > 0:29:22Alex and Stephen do pack a lot into their lives.
0:29:22 > 0:29:25This year has been a really busy year, mainly because we decided
0:29:25 > 0:29:27to get married in the same year
0:29:27 > 0:29:29as renovating the house and we actually moved in
0:29:29 > 0:29:32seven days before we got married,
0:29:32 > 0:29:34so that time was quite tight.
0:29:34 > 0:29:38But, to be honest, we have had a lot of help from my parents
0:29:38 > 0:29:41and Stephen's dad. My mum has done a lot of the gardening work
0:29:41 > 0:29:43and my dad has decorated throughout and things.
0:29:43 > 0:29:45So we have had an equal role, really.
0:29:47 > 0:29:48Congratulations, guys.
0:29:48 > 0:29:52But are congratulations in order with the budget?
0:29:52 > 0:29:55We haven't managed to stick to our original budget mainly because,
0:29:55 > 0:29:58with some of the features, we did get carried away a little bit,
0:29:58 > 0:30:00because we are living here ourselves.
0:30:00 > 0:30:02If we were just buying the property to sell on,
0:30:02 > 0:30:06from an investment point of view, we perhaps wouldn't have spent
0:30:06 > 0:30:08as much on the carpeting and the decoration
0:30:08 > 0:30:11and perhaps wouldn't have gone as far with the kitchen.
0:30:11 > 0:30:15So we have gone to 35,000 with the renovation so far.
0:30:17 > 0:30:20That makes a total investment of 109,000
0:30:20 > 0:30:23and that's without the wedding costs.
0:30:23 > 0:30:27Some parts of Carlisle will have seen a dip in house prices with
0:30:27 > 0:30:32the floods, so was the overspending on the budget worthwhile?
0:30:32 > 0:30:35We invited along two property experts for their thoughts.
0:30:35 > 0:30:38First, the auctioneer who sold the property.
0:30:38 > 0:30:42Yeah, well, I'm absolutely amazed at the transformation of this property.
0:30:42 > 0:30:47It's obviously, there is the fact that it was affected by the floods,
0:30:47 > 0:30:50so there's always a little bit of uncertainty there.
0:30:50 > 0:30:54I don't think the properties have reached pre-flood value.
0:30:54 > 0:30:56We're not quite back there yet.
0:30:56 > 0:30:59The first impressions of the property are very positive indeed.
0:30:59 > 0:31:02It's been done to a fabulous standard throughout.
0:31:02 > 0:31:05All the colour schemes are very much on trend
0:31:05 > 0:31:08and the extra space they've created at the back is fantastic.
0:31:08 > 0:31:12So, given the agent's expertise on this particular market,
0:31:12 > 0:31:17could Alex and Stephen make anything on their £109,000 total spend
0:31:17 > 0:31:19if they decided to sell?
0:31:19 > 0:31:21If the property was to come on the market as it stands,
0:31:21 > 0:31:24I'd be looking at something in the region of £140,000.
0:31:24 > 0:31:28If this property was exposed to the market in its current state,
0:31:28 > 0:31:33at this moment in time, I think it would get between 145 and 150.
0:31:33 > 0:31:35I'm pretty happy with that, really.
0:31:35 > 0:31:38Yeah. Don't think I could ask for anything more.
0:31:38 > 0:31:41If they decided to ditch their new home and sell up right now,
0:31:41 > 0:31:46that would give them a potential profit of 41 grand,
0:31:46 > 0:31:51based on that top valuation of £150,000, minus taxes and fees.
0:31:51 > 0:31:54But what does the future hold for the newlyweds?
0:31:54 > 0:31:58Next for us is to save up a bit more money and tackle all of the jobs
0:31:58 > 0:32:00that need to be finished here,
0:32:00 > 0:32:04so render the back of the property, put decking in, finish the shed,
0:32:04 > 0:32:07go into the attic and then, when everything is finished,
0:32:07 > 0:32:10we might splash out on a well-deserved holiday
0:32:10 > 0:32:12and then, in the near future,
0:32:12 > 0:32:14sort of look at doing another property to sort of
0:32:14 > 0:32:16carry on building up his portfolio.
0:32:20 > 0:32:23Alsagers Bank is a small village on the outskirts
0:32:23 > 0:32:26of Newcastle-under-Lyme in Staffordshire.
0:32:27 > 0:32:29Situated in the southern spur of the Pennines,
0:32:29 > 0:32:33it has spectacular views that are the envy of many other
0:32:33 > 0:32:34local villages in the area
0:32:34 > 0:32:37and it's where we find today's auction lot.
0:32:40 > 0:32:42So, what was the particular property that was up for auction?
0:32:42 > 0:32:46Well, it was this. Three-bed semi, guide price of £70,000 plus.
0:32:46 > 0:32:48Let's see what it has to offer.
0:32:52 > 0:32:55OK, well, I'm not sure what era the door is for a start.
0:32:55 > 0:32:57Surprising, actually, because one of the first things
0:32:57 > 0:33:00people replace generally is the door, with the double glazed one,
0:33:00 > 0:33:02that would certainly keep the noise of the traffic out -
0:33:02 > 0:33:05hasn't been done here - and it's actually quite pleasant.
0:33:05 > 0:33:07A little corridor leading in.
0:33:07 > 0:33:10Front room, a few signs of damp on the walls.
0:33:10 > 0:33:12Probably needs to be investigated.
0:33:12 > 0:33:15But not in horrendous condition, that's for sure.
0:33:15 > 0:33:17Quite a nice feel to it,
0:33:17 > 0:33:21from the front room there through to the rear sitting room,
0:33:21 > 0:33:24and this room again. Not in bad condition,
0:33:24 > 0:33:26but the best bit is through there.
0:33:28 > 0:33:30Look at this. Down this little step there, you've got a door
0:33:30 > 0:33:33out to the back garden, but this is what I want to show you.
0:33:33 > 0:33:35The kitchen, absolutely lovely.
0:33:35 > 0:33:38I mean, if you rented this place out, absolutely adequate.
0:33:38 > 0:33:41If you were living here, I think absolutely adequate.
0:33:41 > 0:33:44What more can I say? And you think that's it?
0:33:44 > 0:33:48No, no, no. Because somebody has had the forethought
0:33:48 > 0:33:50to stick this at the very back of the property.
0:33:50 > 0:33:53It's a sun room with views over the hills.
0:33:53 > 0:33:55This, to me, sells this house.
0:33:55 > 0:33:57You'd just buy it because of this, wouldn't you?
0:33:57 > 0:34:02# Can you give me one good reason
0:34:02 > 0:34:04# Not to try?
0:34:06 > 0:34:09# No, no, no, no, no... #
0:34:09 > 0:34:13There is no doubt about it, I'm a big fan of this conservatory
0:34:13 > 0:34:18and, more importantly, this ideal little garden with those views.
0:34:18 > 0:34:19The hedges need to be trimmed,
0:34:19 > 0:34:22but, other than that, it looks easy to maintain.
0:34:22 > 0:34:25Now, to have a look at the rest of the house.
0:34:28 > 0:34:31So, upstairs, and some good news and some bad news.
0:34:31 > 0:34:34Good news first, two decent-sized bedrooms -
0:34:34 > 0:34:38one at the front, one more towards the back there -
0:34:38 > 0:34:41and we've also got a bathroom. Fantastic, that's the good news.
0:34:41 > 0:34:46The bad news is that third bedroom...is absolutely tiny.
0:34:46 > 0:34:49# And it's bad news
0:34:49 > 0:34:53# Baby, I'm bad news
0:34:53 > 0:34:58# I'm just bad news, bad news, bad news... #
0:34:58 > 0:35:00There could be more bad news, too,
0:35:00 > 0:35:04as I may have found the source of the damp patches.
0:35:04 > 0:35:08The gable end of the house does get the worst of the
0:35:08 > 0:35:11weather and the damp could be caused by the blocked gutters
0:35:11 > 0:35:12or damage to the roof.
0:35:12 > 0:35:16But the fact that the damp is evident upstairs in the chimney breast,
0:35:16 > 0:35:19well, that might just be where the water is getting in.
0:35:19 > 0:35:24Best thing to do is get an expert in to check it out, as it could need
0:35:24 > 0:35:28re-pointing. Time now for us to get the thoughts of an expert in the
0:35:28 > 0:35:30local property market.
0:35:30 > 0:35:33The property is situated on a busy road.
0:35:33 > 0:35:35There is an incline on the road itself
0:35:35 > 0:35:37and it's on a sharp bend.
0:35:37 > 0:35:39There is no parking with the property,
0:35:39 > 0:35:43however, obviously, several years ago, whoever's bought the property has renovated
0:35:43 > 0:35:45the property inside
0:35:45 > 0:35:48and I do believe the property has previously been rented.
0:35:48 > 0:35:51The property obviously wants a little bit of TLC inside,
0:35:51 > 0:35:54but nothing horrendous.
0:35:54 > 0:35:57OK, then, as it's practically ready to move into,
0:35:57 > 0:35:59what could the rental income be?
0:35:59 > 0:36:03In my opinion, after spending about £4,000 or £5,000 here to get the
0:36:03 > 0:36:05property up to a more liveable standard,
0:36:05 > 0:36:09you'd be talking about a rental value of between £550 to
0:36:09 > 0:36:12£595 per calendar month.
0:36:13 > 0:36:16And what if this house, guided at 70,000,
0:36:16 > 0:36:18was put on the sales market?
0:36:19 > 0:36:21On completion of the works here,
0:36:21 > 0:36:26I estimate this property will sell for about 90-£95,000.
0:36:26 > 0:36:29That is an enticing figure, despite the damp.
0:36:29 > 0:36:31# Bad news
0:36:31 > 0:36:34# I don't care, I like you
0:36:34 > 0:36:36# I like you... #
0:36:38 > 0:36:42Well, apart from the fact you're on a fairly busy road and there's no
0:36:42 > 0:36:45off-street parking, it's difficult to find fault with this property.
0:36:45 > 0:36:46A really great one.
0:36:46 > 0:36:49Let's see who agreed when it went under the hammer.
0:36:49 > 0:36:51Semidetached house, sitting room, dining room.
0:36:51 > 0:36:53There is a modern kitchen and a conservatory.
0:36:53 > 0:36:56I would say 70, to start.
0:36:56 > 0:36:5968, then. Can we getting it going at 68?
0:36:59 > 0:37:03Surprisingly, bidding was slow for this one.
0:37:03 > 0:37:05We rejoin at 75,000.
0:37:05 > 0:37:08At £75,000, at 75,000.
0:37:08 > 0:37:1176 anywhere else?
0:37:11 > 0:37:13At 75, then, are we all done?
0:37:14 > 0:37:18At £75,000 for the first time,
0:37:18 > 0:37:22at £75,000 for the second time.
0:37:22 > 0:37:26Third and final time at £75,000...
0:37:26 > 0:37:29Not quite enough, please come talk to us.
0:37:29 > 0:37:33The property didn't meet the reserve price set by the vendor during the
0:37:33 > 0:37:38bidding, but Darren and wife Louise were able to negotiate its purchase
0:37:38 > 0:37:41at £75,000 afterwards.
0:37:41 > 0:37:44Auction lots that don't sell can often be dealt with in this way.
0:37:44 > 0:37:47I met with them to find out what they liked about this semi.
0:37:47 > 0:37:53# Talk to me, I don't know what you're thinking... #
0:37:53 > 0:37:55Louise, Darren, great to meet you both.
0:37:55 > 0:37:58- Hello.- Hello!- Congratulations! - LAUGHTER
0:37:58 > 0:37:59Nice little house.
0:37:59 > 0:38:02- Yeah, it's OK, isn't it?- Yeah.
0:38:02 > 0:38:04I love the back, with the views and everything.
0:38:04 > 0:38:06- Stunning.- Amazing.
0:38:06 > 0:38:08Tell me why you wanted to buy it.
0:38:08 > 0:38:11Well, actually, we went to buy another property at the auction.
0:38:11 > 0:38:14We followed all your rules and regulations.
0:38:14 > 0:38:17- Good.- But it was for another property!- Ah!
0:38:17 > 0:38:21- So what happened with...?- That's to say, we hadn't seen this one when we bought it.- No!
0:38:21 > 0:38:22Yes, unfortunately.
0:38:22 > 0:38:24So you broke the rules?
0:38:24 > 0:38:26- Exactly.- Every one.
0:38:26 > 0:38:28- Really?- We did follow the rules originally,
0:38:28 > 0:38:30but for another property.
0:38:30 > 0:38:33- And you bought this one on a bit of a whim?- We did.- Yes.
0:38:33 > 0:38:35- Why?- I just liked the look of it.
0:38:36 > 0:38:40- Based on what? - On the pictures, basically.
0:38:40 > 0:38:41LAUGHTER
0:38:41 > 0:38:44- Right.- As it happens, I think we've done OK, but we'll see.
0:38:46 > 0:38:49So what happened with the other one you were hoping to buy?
0:38:49 > 0:38:51It was just out of our budget, to be fair.
0:38:51 > 0:38:55It went a little bit more than we wanted to pay, so we pulled out.
0:38:55 > 0:38:58I did bid on it, but we pulled out at our budget, so...
0:38:58 > 0:39:01Were you party to this?
0:39:01 > 0:39:04- No!- So, what was going through your mind at this point?
0:39:04 > 0:39:07"Well, let's have a go."
0:39:07 > 0:39:10Right, yeah...
0:39:10 > 0:39:12So, joking aside, dangerous tactics.
0:39:12 > 0:39:15Yes, very dangerous, yes. I don't think I'd do it again,
0:39:15 > 0:39:17but I think we've been a bit lucky.
0:39:17 > 0:39:20Well, I think you might have been cos it is a great house.
0:39:20 > 0:39:21Yes, it's nice.
0:39:21 > 0:39:23So, why did you want to buy it?
0:39:23 > 0:39:28Well, we work over in Stoke and we actually live in Wolverhampton, so...
0:39:28 > 0:39:31- OK.- The travelling is getting a bit much for us, so we are...
0:39:31 > 0:39:33The M6 is a bit of a nightmare.
0:39:33 > 0:39:35Yeah, yeah. Especially going home.
0:39:35 > 0:39:38- Right.- So we are looking to base ourselves over here.
0:39:38 > 0:39:41Whether we'll move into this one, I don't know, but we'll see.
0:39:41 > 0:39:43- What do you do?- Sell fruit. - Fruit?- Fruit and veg.
0:39:43 > 0:39:45- Yeah.- Oh, OK, terrific.
0:39:45 > 0:39:47Well, as in what?
0:39:47 > 0:39:50We've got a couple of market stalls in Hanley, in Stoke-on-Trent,
0:39:50 > 0:39:54and also a wholesale warehouse that we've just started, so...
0:39:54 > 0:39:57Right. I get the impression that's a lot of early morning starts, is it?
0:39:57 > 0:39:59- Two o'clock.- 2am?
0:39:59 > 0:40:02- Yes, 2am.- You're actually there are 2am or...?
0:40:02 > 0:40:04No, I leave the house about 2am.
0:40:04 > 0:40:06So you set your alarm clock for, like...?
0:40:06 > 0:40:09Half one, quarter to...
0:40:09 > 0:40:11Between two and half past we're out there, so...
0:40:11 > 0:40:13Why do you have to be there so early?
0:40:13 > 0:40:16Well, you have to get the fresh produce and obviously, if you get
0:40:16 > 0:40:18there late, there's nothing left.
0:40:18 > 0:40:21Those long hours to run the fruit and veg stall in Stoke
0:40:21 > 0:40:23have left me "s-peach...less"!
0:40:23 > 0:40:26Uprooting from Wolverhampton and moving in here
0:40:26 > 0:40:30for a shorter commute would be as good a "raisin" as any.
0:40:30 > 0:40:32But there's just one problem.
0:40:32 > 0:40:33How do I know this?
0:40:33 > 0:40:35Well, that's easy.
0:40:35 > 0:40:38MUSIC: I Heard It Through The Grapevine by Marvin Gaye
0:40:38 > 0:40:40Well, the first impressions were
0:40:40 > 0:40:43that we'd made a mistake because there's no parking.
0:40:43 > 0:40:46You know, obviously we've got vehicles that we have to park.
0:40:46 > 0:40:48Oh, yes, vans and stuff.
0:40:48 > 0:40:49Vans and lorries and...
0:40:49 > 0:40:51Lorries?!
0:40:51 > 0:40:54Lorries, yeah. We don't bring the lorries home, to be fair.
0:40:54 > 0:40:55LAUGHTER
0:40:55 > 0:40:58The thought was just, "Oh, my God!"
0:40:58 > 0:41:01Yeah, you're going to really get on well with the neighbours.
0:41:01 > 0:41:03- Exactly.- "Sorry about the artic', love.
0:41:03 > 0:41:05"It'll only be there for a few hours...
0:41:05 > 0:41:07- "Every day."- That's right, that's right.
0:41:07 > 0:41:09We have had that problem in the past.
0:41:09 > 0:41:12- Have you?- Yes.- Golly gosh, wow.
0:41:12 > 0:41:15So...tell me what you're going to do to it, then.
0:41:17 > 0:41:18Not a lot, really. Just tidy it up.
0:41:18 > 0:41:22Get the builders in and have a little look at it, and make sure everything
0:41:22 > 0:41:25is structurally sound and then, basically, I think it just needs cleaning
0:41:25 > 0:41:29and tidying and new floors, a bit of paint.
0:41:29 > 0:41:31Not bad, you know. It could've been a lot worse.
0:41:31 > 0:41:35Indeed, it could. So what's your involvement in this going to be?
0:41:35 > 0:41:37Erm, interior design, I suppose, isn't it?
0:41:37 > 0:41:40- Spending money.- Spending money.
0:41:40 > 0:41:42So, how are you going to do it?
0:41:42 > 0:41:45Just some nice blinds and probably wooden flooring.
0:41:45 > 0:41:48And some quirky paintings, I think, yeah.
0:41:48 > 0:41:51So...budget-wise?
0:41:52 > 0:41:54Well, we had set aside, originally, 10,000.
0:41:54 > 0:41:57I'm hoping not to spend that much!
0:41:57 > 0:41:59I don't think it needs that much spending on it,
0:41:59 > 0:42:03but until we get the builders in and have a look at it and, you know, make sure everything is OK and safe.
0:42:03 > 0:42:05So what about timescale?
0:42:05 > 0:42:08A couple of months. We'll see how we go.
0:42:08 > 0:42:11Obviously, if we're moving into it, it may be a little bit shorter than that,
0:42:11 > 0:42:14you know, we might just move in and do it as we go along.
0:42:14 > 0:42:18And if you don't move in, will you rent it out or sell it on?
0:42:18 > 0:42:20- Probably rent it out. - Rent, probably.
0:42:20 > 0:42:23What-what will make your decision-making process?
0:42:23 > 0:42:25- If we can find somewhere to park. - To park.
0:42:25 > 0:42:27- Oh, is it, really?- Yeah, the parking is the big issue.
0:42:27 > 0:42:29Well, congratulations. Don't do that again.
0:42:29 > 0:42:30No, I won't.
0:42:30 > 0:42:32LAUGHTER
0:42:32 > 0:42:34But I'm glad that it's turned out all right.
0:42:34 > 0:42:39- Nice to meet you both.- Thank you, and you.- Thank you.- All the best. - Thank you. Cheers.
0:42:40 > 0:42:44Well, Darren, the fruit and veg man, buying this place on a whim.
0:42:44 > 0:42:48Dangerous stuff that, he could've ended up with a real rotten tomato.
0:42:48 > 0:42:52As it is, you know what? I think he's got a bit of a peach.
0:42:52 > 0:42:55Only big question, will he and Louise live here or not?
0:42:55 > 0:42:58You can find out later in the show.
0:43:01 > 0:43:04Well, earlier we saw how one of our property projects developed.
0:43:04 > 0:43:05How about the other two?
0:43:05 > 0:43:08Yes, will they end up in the black on top of a pile of profit?
0:43:08 > 0:43:10Or will they end up in the red
0:43:10 > 0:43:13and seeing red for the foreseeable future?
0:43:13 > 0:43:15Let's find out how they got on.
0:43:17 > 0:43:21We head back to the area of Breadsall Hilltop near Derby,
0:43:21 > 0:43:23where earlier I saw nothing.
0:43:23 > 0:43:26Well, not quite nothing.
0:43:26 > 0:43:31This plot of land came with planning permission to build a two-storey,
0:43:31 > 0:43:33two-bed detached property.
0:43:33 > 0:43:38You just had to try and picture what living here might be like.
0:43:38 > 0:43:41# I can only imagine
0:43:41 > 0:43:42# Only imagine
0:43:42 > 0:43:44# What it'd be like
0:43:44 > 0:43:46# What it'd be like
0:43:46 > 0:43:47# What it'd be like
0:43:47 > 0:43:49# Like
0:43:49 > 0:43:50# Like
0:43:50 > 0:43:51# What it'd be like
0:43:51 > 0:43:53# Like, like
0:43:53 > 0:43:55# Like, like... #
0:43:57 > 0:44:00But dreaming big were Kevin, seen here on the right,
0:44:00 > 0:44:04and business partner James, who teach taekwondo together.
0:44:04 > 0:44:08The opportunity to construct their first new-build
0:44:08 > 0:44:12cost them £30,000 at auction and afforded the pals a chance
0:44:12 > 0:44:15to take a trip down memory lane.
0:44:15 > 0:44:19Well, me and Kevin - I've known him for about 25-28 years.
0:44:19 > 0:44:22We do taekwondo together.
0:44:22 > 0:44:24When I first opened a club in Burton,
0:44:24 > 0:44:27he was one of the first guys that come along
0:44:27 > 0:44:30and at the time I thought he was a bit rough, you know.
0:44:30 > 0:44:33When he'd come in with his hair down to the back of his legs,
0:44:33 > 0:44:35I thought, "Do I really want him at the club?"
0:44:35 > 0:44:38But he turned out to be one of the best guys I've known.
0:44:38 > 0:44:40So, yeah, he's great.
0:44:40 > 0:44:43It was the '80s, big hair was allowed then.
0:44:43 > 0:44:48# It was acceptable in the '80s... #
0:44:50 > 0:44:53It's OK, Kevin, we all had shoulder pads,
0:44:53 > 0:44:56eyeliner and big hair in those days.
0:44:56 > 0:44:58Going back to the future,
0:44:58 > 0:45:02Kevin and James have a five-month timescale and a 60 grand budget to
0:45:02 > 0:45:04build the house in order to sell on.
0:45:06 > 0:45:10That was us talking about the '80s five months ago
0:45:10 > 0:45:12and this is the plot now.
0:45:12 > 0:45:14MUSIC: That Was Then But This Is Now by ABC
0:45:14 > 0:45:18# Why make the past your sacred cow?
0:45:18 > 0:45:20# I guess you've changed
0:45:20 > 0:45:23# You've changed and how... #
0:45:23 > 0:45:27You don't have to imagine a modern home any more, it's here!
0:45:29 > 0:45:31# That was then
0:45:31 > 0:45:34# But this is now
0:45:36 > 0:45:40# That was then but this is now... #
0:45:44 > 0:45:48Kevin and James have followed the plans almost exactly.
0:45:48 > 0:45:52There is a smart bathroom upstairs and two generous-sized bedrooms.
0:45:53 > 0:45:56They've opted not to decorate or to floor the house,
0:45:56 > 0:45:59so the new buyers can put their own stamp on it.
0:45:59 > 0:46:03This house might be small, but it is perfectly formed,
0:46:03 > 0:46:06with lots of very up-to-date features,
0:46:06 > 0:46:10from USB sockets to tall, fashionable radiators,
0:46:10 > 0:46:12to a downstairs toilet.
0:46:12 > 0:46:17One change they intended to make in the existing plans was to open up
0:46:17 > 0:46:20the kitchen and I think that works really well -
0:46:20 > 0:46:22it allows for more light -
0:46:22 > 0:46:27and I like the breakfast bar in a kitchen which is stylish and simple.
0:46:27 > 0:46:32While they've just about completed within their five-month timescale,
0:46:32 > 0:46:36builder Kevin and carpenter James had a real worry that the ground
0:46:36 > 0:46:41might be made up of rubble or spoil from when the street was built,
0:46:41 > 0:46:45which would have meant an impact on the costs and timescale.
0:46:45 > 0:46:47So, how did that turn out?
0:46:48 > 0:46:51Luckily, it was clay all the way,
0:46:51 > 0:46:54so it was really good, really.
0:46:54 > 0:46:56The foundations were brilliant,
0:46:56 > 0:46:59one of the cleanest, I think, I've ever dug.
0:46:59 > 0:47:03Yeah, with Kevin's experience and stuff over the years,
0:47:03 > 0:47:04it's a really good idea.
0:47:04 > 0:47:07You've got somebody who's professional with you all the time
0:47:07 > 0:47:10because you could make a mistake, find out you've bought the land,
0:47:10 > 0:47:14and find that you've got to dig down so deep, and the costs go through
0:47:14 > 0:47:16the roof if you have to go too deep.
0:47:20 > 0:47:23That seemed to go smoothly enough.
0:47:23 > 0:47:25Were there any complications they didn't foresee?
0:47:26 > 0:47:29Two main challenges we've had, really, is A,
0:47:29 > 0:47:32getting the house complete for when we wanted to get it done on time.
0:47:32 > 0:47:36Organising the trades to come in.
0:47:36 > 0:47:39We've got a good bunch of lads that we know, work with,
0:47:39 > 0:47:41and they've been absolutely fantastic.
0:47:41 > 0:47:45Secondly, we were due to have the gas pipe installed and we found out
0:47:45 > 0:47:48that we couldn't do it because the children need to be off school.
0:47:48 > 0:47:49There's three schools in the area
0:47:49 > 0:47:52and I think the disruption would have been too much.
0:47:53 > 0:47:57Who would have thought children crossing the road could disrupt your
0:47:57 > 0:48:00build? But when installing services,
0:48:00 > 0:48:02roads often have to be dug up,
0:48:02 > 0:48:05which can impact traffic and road safety -
0:48:05 > 0:48:07always worth bearing in mind.
0:48:07 > 0:48:10Now, how's that 60 grand budget?
0:48:10 > 0:48:12We've come in at £57,000.
0:48:12 > 0:48:15The majority of that is materials and labour,
0:48:15 > 0:48:21but £7,000, I think, as it stands at the minute, is solicitor's fees,
0:48:21 > 0:48:25which a lot of people don't realise when they come into these projects.
0:48:25 > 0:48:29I wonder, has their taekwondo helped them at all?
0:48:29 > 0:48:31Hey, I'm only asking for kicks.
0:48:32 > 0:48:35I would say yes because I'm 55 years old, I am,
0:48:35 > 0:48:38and it's a bit late to be going into the building thing
0:48:38 > 0:48:41because I'm asleep by half past three.
0:48:41 > 0:48:45So, yes, being fit has really, really helped.
0:48:45 > 0:48:48- It really, truly has, yeah. - I don't know about half past three,
0:48:48 > 0:48:50sometimes I think you sleep at 12 o'clock!
0:48:52 > 0:48:57Grab 40 winks, then, James, while we let two local estate agents have a
0:48:57 > 0:48:58look around the house.
0:48:58 > 0:49:01First, the agent who saw the lot before the house was built.
0:49:01 > 0:49:05My first impressions are that the builders made a really good job
0:49:05 > 0:49:08of it. I think they've absolutely made the best use of the space that
0:49:08 > 0:49:10they had available to them.
0:49:10 > 0:49:13I think the selling points of the property are it's ready to go, isn't it?
0:49:13 > 0:49:16Somebody can simply just move in and do what they want with it.
0:49:16 > 0:49:18My first impressions of this property
0:49:18 > 0:49:20is it's quite an interesting project.
0:49:20 > 0:49:23They are limited by the size of the plot and I think they've done
0:49:23 > 0:49:28a good job creating a decent two-bedroom detached property.
0:49:28 > 0:49:32Kevin and James have spent a total of 87 grand here and they intend to
0:49:32 > 0:49:36sell on, so what could it fetch on the sales and lettings market?
0:49:38 > 0:49:41On the resell market, I would expect this property
0:49:41 > 0:49:43to sell in the region of £140,000.
0:49:43 > 0:49:47On the rental market, I would be looking to offer this property
0:49:47 > 0:49:49around £600 per calendar month.
0:49:49 > 0:49:51If I were looking to put this property to the sales market,
0:49:51 > 0:49:54I would market it at £130,000.
0:49:54 > 0:49:58And on today's rental market, at £575 per calendar month.
0:49:58 > 0:50:02£30,000 on the land, £57,000 on the build...
0:50:03 > 0:50:07..with a sale of between 130-140,000,
0:50:07 > 0:50:11that would give us potential profit of between 40,000 and 50,000,
0:50:11 > 0:50:13that's absolutely fantastic.
0:50:15 > 0:50:18So professional, they even do the maths for me.
0:50:18 > 0:50:22It would give them a top pre-tax profit of 53 grand -
0:50:22 > 0:50:27minus taxes and fees - and this even includes the legal costs.
0:50:27 > 0:50:32And I think that's the right way to go for the taekwondo two,
0:50:32 > 0:50:36as rental would only bring a top yield of just over 8%.
0:50:36 > 0:50:40So, how do the two pals manage to work so well together?
0:50:41 > 0:50:45We do do the Brian Clough school of thought, where we sit down
0:50:45 > 0:50:49and discuss it, and then decide...I decide what's going to happen.
0:50:55 > 0:50:58Time now to return to Alsagers Bank in Staffordshire,
0:50:58 > 0:51:02where, nestled amongst these stunning views, I saw this
0:51:02 > 0:51:05three-bed semidetached house.
0:51:05 > 0:51:10It was guided at £70,000 plus and it didn't have an awful lot wrong
0:51:10 > 0:51:13with it, except for a few damp patches and cracks.
0:51:13 > 0:51:17I was more excited about what was at the back of the house.
0:51:17 > 0:51:21Somebody's had the forethought to stick this at the very back of the
0:51:21 > 0:51:24property. It's a sunroom with views over the hills.
0:51:24 > 0:51:27This, to me, sells this house.
0:51:27 > 0:51:30You'd just buy it because of this, wouldn't you?
0:51:30 > 0:51:33# In the summertime... #
0:51:33 > 0:51:37Would buyers Darren and his wife Louise be basking in the sunroom?
0:51:37 > 0:51:40They bought the semi for £75,000 after the auction,
0:51:40 > 0:51:44and you'll be sort of glad they followed our rules about viewing and
0:51:44 > 0:51:46reading the legal pack.
0:51:48 > 0:51:50We followed all your rules and regulations.
0:51:50 > 0:51:53- Good.- But they were for another property.
0:51:53 > 0:51:55So what happened...?
0:51:55 > 0:51:58- That's to say, we hadn't seen this one when we bought it.- No!
0:51:58 > 0:52:02Well, I'll give them a get-out-of-jail-free card this time.
0:52:02 > 0:52:05They didn't plan on changing much here,
0:52:05 > 0:52:08just a bit of TLC and decoration.
0:52:08 > 0:52:11The only issue for fruit and veg seller Darren was no parking for his
0:52:11 > 0:52:16lorries. They planned to finish renovating it in just a few months,
0:52:16 > 0:52:18with a budget of £10,000,
0:52:18 > 0:52:21but we are back THREE YEARS later.
0:52:21 > 0:52:23So it's safe to say that...
0:52:23 > 0:52:25MUSIC: Time by Hootie & The Blowfish
0:52:25 > 0:52:27# Cos tomorrow's just another day
0:52:27 > 0:52:29# And I don't believe in time
0:52:37 > 0:52:41# Time
0:52:41 > 0:52:44# Take their red and blue... #
0:52:46 > 0:52:48They may have been on the clock longer than anticipated,
0:52:48 > 0:52:52but Darren and Louise have filled this place with homely touches.
0:52:52 > 0:52:55We can't get into the first reception room at the moment,
0:52:55 > 0:52:57as it's being used for storage.
0:52:58 > 0:53:01As for that kitchen, I thought it was perfectly OK.
0:53:03 > 0:53:05# And I don't believe in time... #
0:53:06 > 0:53:08But now it's even better.
0:53:09 > 0:53:12Well, there was a porchway there in the kitchen.
0:53:12 > 0:53:14It was very, very tight, wasn't it?
0:53:14 > 0:53:18And two old radiators either side of the three-quarter wall,
0:53:18 > 0:53:20so we had it squared off.
0:53:20 > 0:53:23And then new ceiling, new lights, new floor
0:53:23 > 0:53:26and much, much, you know, easier.
0:53:28 > 0:53:31That may well be the original kitchen in there,
0:53:31 > 0:53:34but extending the space has made this room feel brand-new.
0:53:34 > 0:53:36What can we expect from upstairs?
0:53:59 > 0:54:03They've furnished, painted, and re-carpeted the three bedrooms.
0:54:03 > 0:54:05And in the bathroom...
0:54:05 > 0:54:07There was a bath when we moved in,
0:54:07 > 0:54:11we've completely had that re-modernised and just a shower now,
0:54:11 > 0:54:13which is much, much easier with a family.
0:54:13 > 0:54:16Speaking of family, sons Joshua, Joe
0:54:16 > 0:54:19and his girlfriend Vicki have all been living here.
0:54:19 > 0:54:21The lads obviously moved from Wolverhampton with us.
0:54:21 > 0:54:25We didn't intend to be here, sort of thing, they were going to stay here.
0:54:25 > 0:54:28Unfortunately, we've now moved back in here as well,
0:54:28 > 0:54:31- so there's five of us living here, two dogs...- Two dogs.
0:54:31 > 0:54:34It's very cramped. That's why I leave for work at one o'clock in the
0:54:34 > 0:54:36morning, so I can get in the bathroom.
0:54:36 > 0:54:38LAUGHTER
0:54:38 > 0:54:411am might mean that Darren misses the sunrise,
0:54:41 > 0:54:44but coming home to the setting sun
0:54:44 > 0:54:47over that gorgeous view must never get old.
0:54:57 > 0:54:59When we first saw this property three years ago,
0:54:59 > 0:55:01there were telltale signs of damp.
0:55:01 > 0:55:03Did that cause them any bother?
0:55:04 > 0:55:08We had experts out to see if we needed a new damp course
0:55:08 > 0:55:10and obviously to check the cracks.
0:55:10 > 0:55:14We also had the roof checked over and fortunately everything was OK.
0:55:14 > 0:55:15Everything was OK.
0:55:17 > 0:55:20So, do Darren and Louise intend on staying here?
0:55:22 > 0:55:26We've actually bought a piece of land and we had a bungalow built on
0:55:26 > 0:55:30it for ourselves. We had it valued, just out of curiosity of what it was
0:55:30 > 0:55:32worth, and the estate agent came back to us
0:55:32 > 0:55:35and said, "Somebody is interested in buying it."
0:55:35 > 0:55:37And, as you know, we're market traders,
0:55:37 > 0:55:39so everything is for sale at the right price!
0:55:39 > 0:55:42They offered us the right price, so we sold it.
0:55:42 > 0:55:44While working on the bungalow,
0:55:44 > 0:55:47they let their sons and one of their son's girlfriends rent out the
0:55:47 > 0:55:50property. Do they plan on chumming it with them for long?
0:55:52 > 0:55:54If there was parking with the house,
0:55:54 > 0:55:57we wouldn't move from here because we absolutely love the area.
0:55:57 > 0:56:00- We do.- It's just the fact that we're in the business,
0:56:00 > 0:56:04we've got eight to ten vehicles and we're having to pay to park them somewhere, you know,
0:56:04 > 0:56:06we can't park.
0:56:06 > 0:56:08Parking may still be an issue for them,
0:56:08 > 0:56:10but, for a property they didn't see at auction,
0:56:10 > 0:56:12they've certainly had luck on their side.
0:56:14 > 0:56:16Darren said he didn't want to spend more than £10,000,
0:56:16 > 0:56:18so how did that budget turn out?
0:56:20 > 0:56:23- I think we've spent about between 5,000 and 7,000.- Yeah.
0:56:23 > 0:56:26And I don't like spending money, so...
0:56:26 > 0:56:28I do.
0:56:28 > 0:56:30LAUGHTER
0:56:30 > 0:56:33Well, you know what they say, "You have to spend money to make money."
0:56:33 > 0:56:36If they were in the market for selling,
0:56:36 > 0:56:40could they make a profit on their £82,000 total spend?
0:56:40 > 0:56:43We invited along an estate agent to get his thoughts
0:56:43 > 0:56:44on the benefit of this home.
0:56:46 > 0:56:47Coming into the property,
0:56:47 > 0:56:50very spacious and attractive character property.
0:56:50 > 0:56:52Three really good-sized bedrooms,
0:56:52 > 0:56:55very beneficial that the bathroom is also on the first floor.
0:56:55 > 0:56:58The only negative with the property you could foresee
0:56:58 > 0:57:00is the property having no off-road parking,
0:57:00 > 0:57:03which is quite essential to many buyers nowadays.
0:57:03 > 0:57:07It seems the fruit and veg sellers have got themselves a "berry" nice
0:57:07 > 0:57:09property here. For the right price,
0:57:09 > 0:57:12could the pair make like a banana and split their home?
0:57:14 > 0:57:17We would love to place the property on the market
0:57:17 > 0:57:19in the region of £145,000.
0:57:19 > 0:57:20Better than we anticipated.
0:57:20 > 0:57:22Very much, yeah.
0:57:22 > 0:57:24Erm, I'll take the money now.
0:57:24 > 0:57:25LAUGHTER
0:57:25 > 0:57:28We had a local estate agent out a few weeks ago
0:57:28 > 0:57:35and they valued it from 125-130, so the second one is more pleasing.
0:57:35 > 0:57:38Once a market trader, always a market trader,
0:57:38 > 0:57:42eh, Darren? At this estate agent's valuation of £145,000,
0:57:42 > 0:57:46that would give them a potential profit of £62,000 -
0:57:46 > 0:57:47minus taxes and fees -
0:57:47 > 0:57:51not bad for a property they bought blind at auction,
0:57:51 > 0:57:53not that I recommend it EVER.
0:57:53 > 0:57:55So, what's next for this family?
0:57:57 > 0:57:59Yeah, maybe the boys will...like to stay,
0:57:59 > 0:58:02I think, won't they? And we'll move on...to a nice farm.
0:58:02 > 0:58:04Whether they'll want to come there with us or not,
0:58:04 > 0:58:07if not, they're quite happy to stay, so we are happy with that.
0:58:07 > 0:58:11- Aren't we?- Yeah, yeah. As long as they pay for it!
0:58:14 > 0:58:18There are property auctions all over the country, so, at some stage,
0:58:18 > 0:58:20there will be an opportunity for you.
0:58:20 > 0:58:22Yes, you never know,
0:58:22 > 0:58:24we might be visiting you at your next property purchase.
0:58:24 > 0:58:28Yeah. So join us next time, when we meet the winning bidders on
0:58:28 > 0:58:31- Homes Under The Hammer. - Bye-bye.- Bye-bye.- Goodbye.