0:00:02 > 0:00:04Welcome to Homes Under The Hammer.
0:00:04 > 0:00:06We do some property buying and selling ourselves.
0:00:06 > 0:00:09There is something special about buying at auction.
0:00:09 > 0:00:12Let's find out what properties are going under the hammer today.
0:00:38 > 0:00:43You could be spoilt for choice with this terraced house in South London.
0:00:43 > 0:00:45It could be rented out or become a family home.
0:00:47 > 0:00:53In rural Buckinghamshire, there's a little cottage that isn't exactly perfect.
0:00:53 > 0:00:57I didn't realise there were problems to this extent.
0:00:57 > 0:01:02These properties went to auction, and we'll find out who bought them
0:01:02 > 0:01:06and what they paid for them when they went under the hammer.
0:01:10 > 0:01:16I'm in an area of London which has benefited from major regeneration over the last five years.
0:01:16 > 0:01:20Its facilities, buildings and parks have been updated and improved,
0:01:20 > 0:01:24which is reflected in the local property prices.
0:01:24 > 0:01:27I'm in Catford, Southeast London.
0:01:27 > 0:01:29Ben Elton was born here.
0:01:29 > 0:01:31Spike Milligan went to school here.
0:01:31 > 0:01:34But property prices are no joke.
0:01:34 > 0:01:41We're here to see a three-bedroomed mid-terrace with a guide price of 170 grand.
0:01:41 > 0:01:45The house is on a quiet residential street around 10 minutes' walk from
0:01:45 > 0:01:49a mainline railway station and a mile from the town centre.
0:01:49 > 0:01:53So, great location but what about the house itself?
0:01:55 > 0:01:58So what lies beyond the pebble dash of the exterior?
0:01:58 > 0:02:01Well, a fairly standard house, actually.
0:02:01 > 0:02:06Interesting decoration going on here. Look at this fireplace!
0:02:06 > 0:02:09Faux Flintstone fireplace.
0:02:09 > 0:02:13Absolutely fantastic.
0:02:13 > 0:02:15Clearly, you want to get rid of that.
0:02:15 > 0:02:17Over here, something more serious.
0:02:17 > 0:02:18Down here,
0:02:18 > 0:02:21not good news.
0:02:21 > 0:02:23In there. Damp.
0:02:23 > 0:02:25In itself, not too much of a problem.
0:02:25 > 0:02:29Rising damp - cure that with injection damp proof course.
0:02:29 > 0:02:33My only concern would be that it's affected the floorboards,
0:02:33 > 0:02:34because this is a wooden floor.
0:02:34 > 0:02:38It might have affected the joists as they go into the wall.
0:02:38 > 0:02:40You definitely want that checked out.
0:02:40 > 0:02:42But not a bad start.
0:02:45 > 0:02:50Into the rear reception room. A bit dark and dingy, only a small window.
0:02:50 > 0:02:54And it gets worse, because through here is the kitchen.
0:02:54 > 0:02:56This is absolutely tiny.
0:02:56 > 0:03:00You've got a bit of a cupboard, probably underneath the stairs.
0:03:00 > 0:03:04But not much room for anything other than the sink.
0:03:04 > 0:03:05However, I do see a solution.
0:03:05 > 0:03:08This wall, I reckon you could take that out.
0:03:08 > 0:03:13Put an RSJ, metal beam, going across the top, take out this wall.
0:03:13 > 0:03:16At least you'd open it up a bit. One other bad thing.
0:03:16 > 0:03:21Unfortunately, this is the only loo and bathroom in the whole house.
0:03:21 > 0:03:23Access through the kitchen, not good.
0:03:23 > 0:03:26All in all, needs a total refurbishment.
0:03:26 > 0:03:29Some work to do to get this place up to scratch.
0:03:29 > 0:03:32There are three good-sized bedrooms.
0:03:32 > 0:03:36A very large master bedroom with an original fireplace,
0:03:36 > 0:03:38and two smaller ones at the back.
0:03:38 > 0:03:41So there's ample room to consider moving the bathroom upstairs,
0:03:41 > 0:03:45but that would reduce this to a two-bedroomed house.
0:03:45 > 0:03:49So all in all, not a bad little property. Good-sized rooms.
0:03:49 > 0:03:53It's really only the kitchen wants a bit of sorting out.
0:03:53 > 0:03:57For that guide price of 170 grand, it's a good one to go for.
0:03:57 > 0:03:58Let's go to the auction.
0:04:01 > 0:04:04So, Tugela Street, Lot 22.
0:04:04 > 0:04:06Do I have 200?
0:04:06 > 0:04:09Start where you want to kick off.
0:04:10 > 0:04:13190. 191. 192.
0:04:13 > 0:04:17If not, in the room, 191.
0:04:17 > 0:04:19192.
0:04:19 > 0:04:25193. 194. 195. 196. 197.
0:04:25 > 0:04:27198. 199.
0:04:27 > 0:04:30200. 201.
0:04:30 > 0:04:33202. 201.
0:04:33 > 0:04:36202? 201, standing up.
0:04:36 > 0:04:39First time, second time.
0:04:39 > 0:04:46202. 203. 203. As you've been there,
0:04:46 > 0:04:49202 and a half.
0:04:49 > 0:04:53203. Yep? 203 and a half.
0:04:53 > 0:04:54203, sitting down.
0:04:54 > 0:05:00Anyone else? First time, second time, third and last time. Blimey!
0:05:00 > 0:05:01Come forwards. 203 and a half.
0:05:01 > 0:05:05Come up. Can't hardly see you there.
0:05:05 > 0:05:08203 and a half. 204.
0:05:08 > 0:05:12204 and a half.
0:05:12 > 0:05:14205.
0:05:14 > 0:05:16205 and a half. No?
0:05:16 > 0:05:22At 204 and a half. First time, second... Where?
0:05:22 > 0:05:25205. 205 and a half.
0:05:25 > 0:05:28206.
0:05:28 > 0:05:34205 and a half, down here, first time, second time, third and last time. Are you all done? Well done.
0:05:36 > 0:05:39What a battle. The successful bidder was Julianna,
0:05:39 > 0:05:42who's bought the property along with her partner, Gordon.
0:05:42 > 0:05:46She's been property developing since she was 18,
0:05:46 > 0:05:49but after taking a break she's decided to get her hand back in.
0:05:49 > 0:05:53This was her first time buying at auction.
0:05:53 > 0:05:57- Julianna, lovely to meet you. - Pleasure to meet you. - Congratulations.
0:05:57 > 0:06:00- Thank you.- Got yourself a nice house here.- It is a really nice house.
0:06:00 > 0:06:04What do you do when you're not doing property development?
0:06:04 > 0:06:08I do clinical hypnotherapist and consultant psychologist.
0:06:08 > 0:06:12- In a nutshell, what's that about? - Erm, hypnotherapy deals with people
0:06:12 > 0:06:16who have weight problems, smoking problems, phobias,
0:06:16 > 0:06:20and it's just joined together with NLP,
0:06:20 > 0:06:26it's neurolinguistic psychology or neurolinguistic programming, however you want to look at it.
0:06:26 > 0:06:32It's just joined together, you get good results really quickly.
0:06:32 > 0:06:38- Fantastic. Are you gonna be using any of your skills on the builders? - Oh, absolutely!
0:06:38 > 0:06:42- They sometimes have a phobia of work, don't they?- They do. They do.
0:06:42 > 0:06:47Sharing Julianna's passion for clinical hypnotherapy is her partner, Gordon.
0:06:47 > 0:06:51A chartered accountant, he's also interested in property
0:06:51 > 0:06:54and will be helping Julianna with the renovations.
0:06:54 > 0:06:57How does it work between you and Julianna?
0:06:57 > 0:07:02Well, Julianna does all the hard work, I sit back and enjoy it. Is that what you were looking for?
0:07:02 > 0:07:05No! Well, if that's the truth, then yes, absolutely.
0:07:05 > 0:07:08That's probably how it's gonna work in this particular case,
0:07:08 > 0:07:11cos I tend to be quite busy in my own business.
0:07:11 > 0:07:15Julianna can come in and out of the property to help supervise the builders, and things.
0:07:15 > 0:07:20So I tend to be stuck at the office when she can come and do this stuff.
0:07:20 > 0:07:25And she's better at it than I am. She can negotiate better deals with them than I ever could.
0:07:25 > 0:07:32Part of the reason Julianna has returned to developing is because of Gordon's experience and enthusiasm.
0:07:32 > 0:07:37But this project is all down to Julianna, so she'll be calling the shots herself.
0:07:37 > 0:07:40I'd like to do what next door have done.
0:07:40 > 0:07:45They have the bathroom upstairs in the back room. If that's possible, I'd like to do that.
0:07:45 > 0:07:49And then dividing it up so that it stays as a three-bedroom family home.
0:07:49 > 0:07:53What about the kitchen? That's a disaster, and the loo downstairs is...
0:07:53 > 0:07:56It's all coming down, basically. The wall has to come down.
0:07:56 > 0:08:02It's just a partition. The units have to come out, damp course put in and so on and so forth.
0:08:02 > 0:08:05It will be very quick.
0:08:05 > 0:08:09- So what's the timescale and budgets for the work?- Six weeks.
0:08:09 > 0:08:15May drag on into eight or nine, but if we look at six we'll head for six.
0:08:15 > 0:08:21Budget, covering everything, not more than £25,000.
0:08:21 > 0:08:23Oh! So a reasonable budget, then.
0:08:23 > 0:08:28Yeah. But that is way up the scale. I'm expecting it not to be there.
0:08:28 > 0:08:32I have overestimated pretty much everything.
0:08:32 > 0:08:34Julianna has all her bases covered.
0:08:34 > 0:08:39Let's just hope there are no nasty surprises once work starts.
0:08:39 > 0:08:41So what about plans for the future?
0:08:42 > 0:08:47Well, Julianna and Gordon have certainly found a great project to work on together here.
0:08:47 > 0:08:51It's a lovely house, and I'm sure that they will make a great success of the renovation.
0:08:51 > 0:08:54And you can find out how they get on later in the show.
0:08:57 > 0:09:02The rural landscape isn't usually awash with auction properties.
0:09:02 > 0:09:08The market for them is so strong, the conventional resale route normally gets the best price.
0:09:08 > 0:09:13But I've come just 12 miles out of Oxford to an interesting cottage.
0:09:13 > 0:09:17I'm in Shabbington, a small village just north of the Chiltern hills.
0:09:17 > 0:09:21Look around you - it's absolutely beautiful.
0:09:21 > 0:09:28No wonder it's so popular with walkers, holidaymakers and those keen to buy a house.
0:09:28 > 0:09:34With the station just three miles away, you've got fast rail links to London or to Birmingham.
0:09:34 > 0:09:41The appropriately-named Chestnut Cottage offers country life without being off the beaten track.
0:09:41 > 0:09:45This cottage was built in 1850 and was owned by the church.
0:09:45 > 0:09:52Looking at it, it appears perfect, but you know what they say - never judge a book by its cover.
0:09:52 > 0:09:56I've got a feeling that could be appropriate.
0:09:56 > 0:10:03Not only was it owned by the local church, the roof design echoes the church building itself.
0:10:03 > 0:10:10Although first impressions are good, as you look a little closer, the cracks begin to show.
0:10:10 > 0:10:14Should that low guide price of 170,000 start the bells ringing
0:10:14 > 0:10:19and should they be celebratory church bells or alarm bells?
0:10:19 > 0:10:22Now this is the kitchen.
0:10:22 > 0:10:28This part of the house was built in the late '50s. So it's about 50 years old.
0:10:28 > 0:10:33You've got a larder there, old-fashioned aluminium window frames,
0:10:33 > 0:10:39and on the floor it's full of tiles made of terracotta. That matches the style of the property,
0:10:39 > 0:10:44but there's no central heating. Just an old coal burner.
0:10:44 > 0:10:49And there's no kitchen - it's just a sink unit.
0:10:49 > 0:10:53A lot of money has to spent in here. Let's see what's through there.
0:10:53 > 0:10:58And this is the lounge area. It certainly feels cottage-y.
0:10:58 > 0:11:02I'm not that tall and look... I can touch the ceiling!
0:11:02 > 0:11:07I had heard there were a few problems with this property.
0:11:07 > 0:11:12They are staring me in the face. Look at this - cracks everywhere.
0:11:12 > 0:11:19On closer inspection, you can see this property has moved - cracks above the windowsill,
0:11:19 > 0:11:23lumps of wallpaper hanging off.
0:11:23 > 0:11:28I didn't realise there were problems to this extent.
0:11:30 > 0:11:37These cracks continue upstairs where the three bedrooms show a bit more than just wear and tear.
0:11:37 > 0:11:42But they do at least have the character feel of an older property.
0:11:45 > 0:11:49In the bathroom, the garden is trying to creep inside,
0:11:49 > 0:11:55but what is the source of all the problems? I traced it back to the front garden.
0:11:59 > 0:12:07Now this house has got some serious problems. I'm going to mention a word that could be quite scary -
0:12:07 > 0:12:08underpinning.
0:12:08 > 0:12:13It's needed because of subsidence caused by this horse chestnut tree.
0:12:13 > 0:12:19Underpinning is the process of strengthening and stabilising the foundations of a building.
0:12:19 > 0:12:25A survey will need to be done to find the extent of the damage that's been done by the tree.
0:12:25 > 0:12:31A decision can then be made as to whether it's a partial or a whole house underpinning that's needed.
0:12:31 > 0:12:35It could cost more than £20,000 just for underpinning alone.
0:12:35 > 0:12:40Structurally, the house falls well short of ideal, as does the garden space.
0:12:40 > 0:12:47The three beds make it a potential family house, but the garden really isn't a family size.
0:12:47 > 0:12:53Before this little cottage can get its facelift, all the hard work needs to be done.
0:12:53 > 0:12:57I'm talking about the underpinning. It will put some people off.
0:12:57 > 0:13:00Let's see what happens at auction.
0:13:04 > 0:13:06Lot 69.
0:13:06 > 0:13:10Do we hear...? Yeah, 150. OK.
0:13:10 > 0:13:13Thought that would draw a few out.
0:13:13 > 0:13:15How much? 155? 155.
0:13:15 > 0:13:18160. 165. 170.
0:13:18 > 0:13:21175. 180.
0:13:21 > 0:13:24185. 190.
0:13:24 > 0:13:26191. 192.
0:13:26 > 0:13:29193. 194.
0:13:29 > 0:13:32195. 196.
0:13:32 > 0:13:34197. 198.
0:13:34 > 0:13:38199. 200,000. 201.
0:13:38 > 0:13:41202. 203?
0:13:41 > 0:13:44If not, the bid's at £202,000.
0:13:44 > 0:13:48At the back on my left, been there all along.
0:13:48 > 0:13:52202 for the first, 202 for the second,
0:13:52 > 0:13:56202 for the third and final time.
0:13:56 > 0:13:59All done? Sold to you, sir. 202.
0:13:59 > 0:14:04For £202,000, the new owner is London-based builder Kevin.
0:14:04 > 0:14:09He and his son Ryan were looking for a new challenge.
0:14:09 > 0:14:13Kevin used to specialise in loft conversions and extensions,
0:14:13 > 0:14:17but has decided now is the time to move into property developing.
0:14:17 > 0:14:24He's set up a new company with his son, Ryan, and Chestnut Cottage is their first full-scale renovation.
0:14:24 > 0:14:30Am I right in saying you've jumped in feet first? Most people would choose a one-bed flat.
0:14:30 > 0:14:33It's very hard to get finance for that!
0:14:33 > 0:14:38Bank wouldn't entertain me. They'd lend me a million, not a thousand!
0:14:38 > 0:14:45I don't think Kevin will quite need a million pounds here, but he's not planning to do things by halves.
0:14:45 > 0:14:51We're talking of opening this kitchen up so we get a nice kitchen/diner.
0:14:51 > 0:14:58- You'll lose the downstairs toilet. - Yeah, unfortunately. - Which is a shame.- It is a shame,
0:14:58 > 0:15:04but you have got a kitchen/diner, which most families want with a three-bed house.
0:15:04 > 0:15:10- What about through here?- Next door, we're talking about opening it up into a nice, big living area,
0:15:10 > 0:15:16taking out the external wall, maybe some patio doors to get more light in.
0:15:16 > 0:15:21The ceilings are quite low. Upstairs, just take everything out and put it all back.
0:15:21 > 0:15:27The inside is the least of Kevin's worries. If he doesn't tackle that subsidence,
0:15:27 > 0:15:34there will be no need for his bigger cottage or new stairs - he won't have a cottage to house them in!
0:15:34 > 0:15:38- It's quite dark, isn't it? - That'll go with the tree being gone.
0:15:38 > 0:15:42- This house clearly has got subsidence.- Yeah.
0:15:42 > 0:15:48- Due to...- The tree, yeah.- And what will you do to rectify that?
0:15:48 > 0:15:55The tree's going, then we'll underpin all this area of the house, quite deeply.
0:15:55 > 0:16:02Kevin's budget is £50,000 for the whole house, with a large chunk - perhaps up to 25 grand -
0:16:02 > 0:16:05going on the underpinning alone.
0:16:05 > 0:16:12He'll project manage the work and plans to be onsite most days supervising the builders.
0:16:12 > 0:16:18Although his building skills will enable him to put the cottage back together,
0:16:18 > 0:16:25there may be one area he can't fix - that's the rather small garden. Or has he got a solution to that?
0:16:25 > 0:16:32We have an agreement to purchase some of a garden that backs onto us. Her garden is a bit big for her.
0:16:32 > 0:16:37We've got another 4.5 metres. When all the place is cleared,
0:16:37 > 0:16:43- we'll have a nice family-sized garden across the back. - How much is that costing you?
0:16:43 > 0:16:49- £11,000.- That's really good news. You'll have somewhere to sit, table and chairs, to entertain.
0:16:49 > 0:16:51Kevin is really sorted on this one.
0:16:51 > 0:16:56He's gone into the project with his eyes wide open.
0:16:56 > 0:17:01It's his first project, so the pressure is on to make it work.
0:17:01 > 0:17:07With this house and all its problems, I don't think it'll be a straightforward build.
0:17:07 > 0:17:11Join us later in the show to see if Kevin's pinned his hopes
0:17:11 > 0:17:15on a house that's more trouble than it's worth.
0:17:18 > 0:17:24- It's a few months later, and there should have been some improvements. - Let's go back and find out.
0:17:24 > 0:17:29Clinical hypnotherapist, Julianna, started young in the property game
0:17:29 > 0:17:33and now wants to get back to it after a five-year break.
0:17:33 > 0:17:37Along with her partner, Gordon, a chartered accountant and owner
0:17:37 > 0:17:40of nearly 50 buy-to-lets himself,
0:17:40 > 0:17:46she bought this three-bedroom house in Catford, London, for £205,500.
0:17:46 > 0:17:49This was to be Julianna's return to property development
0:17:49 > 0:17:55and she was confident all would go well, but it seems she got a lot more than she originally intended.
0:17:55 > 0:17:58Rather than giving the keys, and collecting the keys,
0:17:58 > 0:18:01and picking the accessories - it wasn't like that at all.
0:18:01 > 0:18:07I have had to be here shovelling the cookers, filling my car with bricks every other day.
0:18:07 > 0:18:10And plaster, and plasterboard, and I wish I had a camera.
0:18:10 > 0:18:17It's been an experience I will never forget and I have learned from it, and I will never do it again.
0:18:17 > 0:18:20# Never never say never again
0:18:20 > 0:18:23# Never never say never again... #
0:18:34 > 0:18:39Julianna may have got more than she bargained for, but the result is fantastic.
0:18:39 > 0:18:43The house is almost finished and there have been quite a few changes.
0:18:43 > 0:18:46# ..You walk in a room... #
0:18:46 > 0:18:51We've taken the wall down, taken the door down. The ceiling just fell down.
0:18:51 > 0:18:55We have put a new ceiling, new plumbing, new floor - rebuilt the floor up,
0:18:55 > 0:18:59new skirting, new doors. Everything you see, we went back to bricks.
0:18:59 > 0:19:03This is what we have ended up with, which I am happy with.
0:19:03 > 0:19:08We will be finished soon so it looks quite nice, I'm happy.
0:19:08 > 0:19:10That awful bathroom has gone
0:19:10 > 0:19:15but there was really only one place for the new one to go, and that was upstairs.
0:19:18 > 0:19:21By keeping three bedrooms,
0:19:21 > 0:19:26Julianna has improved the house without compromising any of its selling points.
0:19:26 > 0:19:29As for Gordon, he took care of Julianna's workload
0:19:29 > 0:19:33while she did this and he is very impressed with the result.
0:19:33 > 0:19:40The agreement was that she wanted to do a project and get it under her belt. She did really well with this.
0:19:40 > 0:19:44She had some real challenges with this one
0:19:44 > 0:19:49and came through it intact, but with some new knowledge.
0:19:49 > 0:19:50It's been good.
0:19:50 > 0:19:53My involvement has been very slim.
0:19:53 > 0:19:59It has taken Julianna six weeks in all and that was due mostly to her pushing the project all the way.
0:19:59 > 0:20:05Julianna has had a tough time but thankfully finances were not something she had to worry about.
0:20:06 > 0:20:10We thought it might come down a bit but really, with the problems
0:20:10 > 0:20:14we've had on the project, it's going to be 20,000 by the time it is done.
0:20:14 > 0:20:17But now it's done, how does Julianna feel?
0:20:17 > 0:20:19The best bit is now it's over, definitely.
0:20:19 > 0:20:22My smile has come back on my face after six weeks.
0:20:22 > 0:20:25Just the thought of "it is over".
0:20:25 > 0:20:28So, will it impress two local estate agents?
0:20:41 > 0:20:45We would market the property between £250,000 and £255,000.
0:20:45 > 0:20:50- Right on the mark.- Yes, that is just exactly.- Just what we thought it was going to be.
0:20:50 > 0:20:57255 seems a bit strange because of stamp duty so maybe 250 to get sold quickly.
0:20:57 > 0:21:00And what about the rental potential?
0:21:00 > 0:21:02If I were to rent the property out,
0:21:02 > 0:21:08I would value it for between £950 to £1,000 per calendar month.
0:21:08 > 0:21:10That's actually not bad, you know.
0:21:10 > 0:21:15That might make a good rental deal for us because property prices are doing well in the area.
0:21:15 > 0:21:19That might be... That's actually quite good. I like that.
0:21:20 > 0:21:25That figure is enough to convince Julianna and Gordon to rent this house out before selling.
0:21:25 > 0:21:29For Julianna, it's a job well done, but will she say never again?
0:21:29 > 0:21:32I'm quite happy with it overall.
0:21:32 > 0:21:36Even though, as you say, it has been difficult.
0:21:36 > 0:21:40Being the first renovation we've done in London, it was always going to be a learning curve.
0:21:40 > 0:21:45Some of it was steeper than we would like but we have learnt some lessons, some hard ones, haven't we?
0:21:45 > 0:21:49- Yes.- We won't repeat the same mistakes again, for sure.
0:21:49 > 0:21:51The next project is going to be much easier.
0:21:51 > 0:21:58# Never say never again Never never say never again. #
0:21:59 > 0:22:02Just outside Aylesbury in Shabbington,
0:22:02 > 0:22:08Chestnut Cottage was being uprooted by the tree after which it was named.
0:22:08 > 0:22:13This caused substantial damage, but after buying it for £202,000,
0:22:13 > 0:22:19father and son building team Kevin and Ryan weren't too worried. Or were they?
0:22:19 > 0:22:22# Don't worry about a thing... #
0:22:22 > 0:22:26When we first started work, my son came out.
0:22:26 > 0:22:31I was quite shocked. I could see it was leaning towards one side.
0:22:31 > 0:22:35He used some expletives. "What have you bought?"
0:22:35 > 0:22:41I'm not sure I can repeat what I said. Mainly it was, "Are you sure? I don't think so. You're mad."
0:22:41 > 0:22:46Yes, it was quite daunting, but we've done plenty of this over many years.
0:22:46 > 0:22:54That's reflected in the work they've done here, including a new roof and removal of the troublesome tree.
0:22:59 > 0:23:03But was this a really hard nut to crack?
0:23:04 > 0:23:10- Toughest part was the underpinning. - The underpinning was tedious. Didn't enjoy that.
0:23:10 > 0:23:16It was in the middle of winter, we were up to our necks in mud, down a hole two feet deep.
0:23:16 > 0:23:22Two feet? It was two metres, by the way. A hell of a lot bigger than two foot!
0:23:22 > 0:23:27The hole was filling up all the time. We got covered in mud.
0:23:27 > 0:23:31He made me promise never to buy a house needing underpinning again!
0:23:31 > 0:23:36He tends to stay rather clean. I seem to be covered in mud.
0:23:36 > 0:23:43I do a lot of the hard labour, he does things with more finesse. He's the brains, I'm the brawn.
0:23:43 > 0:23:48With the underpinning completed in two weeks instead of six,
0:23:48 > 0:23:53Kevin and Ryan could crack on with the other jobs in the house.
0:23:53 > 0:23:59Downstairs, the main lounge area has been replastered, had central heating fitted
0:23:59 > 0:24:03and been opened right up to make it open plan.
0:24:11 > 0:24:17And the kitchen area has undergone a complete transformation as Kevin explains.
0:24:19 > 0:24:24There's no doubt that this high spec kitchen is a big selling point.
0:24:26 > 0:24:32It's the first thing you see when you come into the house, so it needed that wow factor.
0:24:34 > 0:24:37Here we're in the end bedroom.
0:24:37 > 0:24:44This, originally, was slightly smaller. Almost identical to next door.
0:24:44 > 0:24:50So we decided to push this wall back two feet, which originally came under this beam.
0:24:50 > 0:24:55It turned this into a nice-sized double with built-in wardrobes.
0:24:55 > 0:25:03Next door is still a good-sized kids' room. Also, it exposed the beam, which is a feature in the room.
0:25:06 > 0:25:12The other rooms have also been replastered and refurbished with new windows, skirting and doors.
0:25:12 > 0:25:17Kevin has been true to his word that everything would be replaced.
0:25:22 > 0:25:27The bathroom's been transformed.
0:25:27 > 0:25:35There's not only a brand-new suite, but by replacing the airing cupboard it's got a walk-in shower now.
0:25:35 > 0:25:37The outside space has changed, too.
0:25:37 > 0:25:42How is his 50 grand budget holding out now?
0:25:42 > 0:25:44It now looks like 45.
0:25:44 > 0:25:47The big outlay, one was the underpinning.
0:25:47 > 0:25:51That probably cost about £10,000.
0:25:51 > 0:25:56And then the finishes, the kitchens and bathrooms, for that high spec.
0:25:56 > 0:26:01That would take Kevin's total spend up to the 260 mark.
0:26:01 > 0:26:04So has this been money well spent?
0:26:04 > 0:26:08Has Kevin's - or Ryan's - hard work paid off?
0:26:08 > 0:26:11Let's see what the agents think.
0:26:27 > 0:26:32If I put this on the market, I would ask £345,000.
0:26:32 > 0:26:36I think the market will stand this property at about £350,000.
0:26:36 > 0:26:44That could produce a tidy £80,000 - not a bad start to their new joint enterprise into developing.
0:26:44 > 0:26:48That should mean more projects together, something they enjoy.
0:26:48 > 0:26:53I love working with my dad(!) No, it's good, it's OK.
0:26:53 > 0:26:55- He doesn't know how easy he's got it! - HE doesn't know!
0:27:02 > 0:27:06We'll be back next time with more Homes Under The Hammer.
0:27:06 > 0:27:10- Join us then for all the action at the auction.- Goodbye.- Bye.
0:27:16 > 0:27:19Subtitling by Red Bee Media Ltd
0:27:19 > 0:27:22E-mail subtitling@bbc.co.uk