0:00:02 > 0:00:05- Welcome to the programme.- We enjoy dabbling in the property market
0:00:05 > 0:00:07AND getting a good deal along the way.
0:00:07 > 0:00:09But it's not always that easy.
0:00:09 > 0:00:12So what can you do to give yourself the best chance of a bargain?
0:00:12 > 0:00:14Buy your home under the hammer!
0:00:39 > 0:00:42In Wales, there's a house
0:00:42 > 0:00:44which could be the perfect long-term investment.
0:00:44 > 0:00:46You know, straight away,
0:00:46 > 0:00:49this place is crying out "rental property" for me.
0:00:51 > 0:00:55What has this one-bedroomed flat in central London got going for it?
0:00:55 > 0:00:58This flat doesn't have views, it doesn't have space,
0:00:58 > 0:01:00it's got no garden.
0:01:00 > 0:01:04These properties went to auction and we'll find out who bought them
0:01:04 > 0:01:08and what they paid for them when they went under the hammer.
0:01:08 > 0:01:09You all done?
0:01:12 > 0:01:15Even on a cold, wet, day like today,
0:01:15 > 0:01:19it's clear that Cardiff has really been transformed by the developers.
0:01:19 > 0:01:22New state-of-the-art buildings are going up all over the place,
0:01:22 > 0:01:27but has this regeneration extended to the city's housing stock?
0:01:27 > 0:01:30Well, this is Donald Street in Roath,
0:01:30 > 0:01:35and 'tis but a short duck's flight from Cardiff city centre.
0:01:35 > 0:01:38What's on offer is something very intriguing.
0:01:38 > 0:01:43It's a mid-terrace, it's got four bedrooms, two reception rooms,
0:01:43 > 0:01:49two loos and a large garden, all for a guide price of £155,000.
0:01:49 > 0:01:52You'd be quackers not to investigate further!
0:01:52 > 0:01:55Well, the first thing you notice about the exterior
0:01:55 > 0:01:58is the very small front area and lack of off-street parking,
0:01:58 > 0:02:02which could be a pain, especially on wet days like this.
0:02:02 > 0:02:04The windows, though, are in reasonable condition
0:02:04 > 0:02:06but a lick of paint wouldn't go amiss.
0:02:07 > 0:02:10So, what's it like inside?
0:02:10 > 0:02:13Well, at first glance, not too bad.
0:02:13 > 0:02:15Pretty stark decoration, but that's easily changed.
0:02:15 > 0:02:19You've got a front sitting room there which I suppose could be another bedroom
0:02:19 > 0:02:22and then through into the most amazing part of this house...
0:02:22 > 0:02:26this massive lounge/kitchen.
0:02:26 > 0:02:29Back there you've got a bathroom and another toilet.
0:02:29 > 0:02:34You know, straight away, this place is crying out "rental property" for me.
0:02:34 > 0:02:40I mean, this would be a fantastic sort of communal area, you've got the four bedrooms, possibly five,
0:02:40 > 0:02:43you're in the right area in terms of student population.
0:02:43 > 0:02:49You know, already I'm saying this would be a great property to feather your nest.
0:02:51 > 0:02:54This layout is all about communal living.
0:02:54 > 0:02:57It's got that large lounge area with a spacious kitchen,
0:02:57 > 0:02:59and although not ideally sited,
0:02:59 > 0:03:02the bathroom is a good size and has a shower.
0:03:05 > 0:03:09It's certainly nice weather for ducks!
0:03:09 > 0:03:13- Anyway, at the rear of the property there is a garden. - Now that's interesting.
0:03:13 > 0:03:16Well, intrinsically not but I'll explain why in a second.
0:03:16 > 0:03:21First of all, it's nice to see that there is a natural stone wall here, a nice little feature.
0:03:21 > 0:03:22Meanwhile, the garden.
0:03:22 > 0:03:27Well, it depends really on whether or not you are looking at this place as a family home or rental property.
0:03:27 > 0:03:32If you're thinking about it as a family home, the garden is somewhere for the kids to play.
0:03:32 > 0:03:34However, if you're thinking about renting this place out,
0:03:34 > 0:03:40from my experience, people who rent possibly, especially students, don't actually look after gardens,
0:03:40 > 0:03:44so it ends up looking something like this and begins to be a bit of a pain
0:03:44 > 0:03:46in which case, you might think about paving it.
0:03:46 > 0:03:52But I suppose it is a nice thing to have and you can always think about putting a duck pond in!
0:03:52 > 0:03:54Quack, quack!
0:03:54 > 0:03:57There are three... Enough duck puns already!
0:03:57 > 0:04:00..good sized bedrooms upstairs but no bathroom.
0:04:00 > 0:04:03That is reasonably acceptable for a student let,
0:04:03 > 0:04:04but not for a family house,
0:04:04 > 0:04:10so the more I see this place, the more it looks like it used to be student digs.
0:04:14 > 0:04:18Phew! Well, right at the top of the house is the final bedroom...
0:04:18 > 0:04:23an attic room. Now, when I was a student, I had a room just like this.
0:04:23 > 0:04:25I love attic bedrooms. They're great!
0:04:25 > 0:04:28So obviously the whole house has been utilised to the max.
0:04:28 > 0:04:30Nice added bonus...
0:04:30 > 0:04:34the brand-new bed and some of the other furniture looks reasonable.
0:04:34 > 0:04:39You get lots of light coming in through the windows, so all in all, a really nice room
0:04:39 > 0:04:43and from up here you also get to see the fact that the roof looks in really good condition.
0:04:43 > 0:04:49In fact, that is a new extension which was built onto the property so all in all, lots of boxes ticked.
0:04:49 > 0:04:52However, the law has changed in recent years
0:04:52 > 0:04:57and if this property was now to be used as a house of multiple occupancy, or HMO,
0:04:57 > 0:05:00then safety standards would need to be complied with.
0:05:00 > 0:05:05These would include fire doors, integrated smoke alarm systems
0:05:05 > 0:05:09and emergency lighting which can substantially raise the outlay.
0:05:09 > 0:05:13But this is offset by the fact that the more people you can
0:05:13 > 0:05:16let the house to, the greater your rental return.
0:05:16 > 0:05:18Well, this is a great rental property.
0:05:18 > 0:05:21It's in the right area, and it's got the right number of rooms.
0:05:21 > 0:05:26For £155,000, it's a good one to go for. Let's hit the auction.
0:05:30 > 0:05:34Right. We're onto lot 50 now, the extended mid-terraced house,
0:05:34 > 0:05:38potential investment here at 35 Donald Street, Roath, Cardiff.
0:05:38 > 0:05:40Where will you be on that one then?
0:05:40 > 0:05:42160?
0:05:42 > 0:05:45160, I have 160, at 160, thank you.
0:05:45 > 0:05:48At 160. 162.
0:05:48 > 0:05:51162, 164 then, 164, at 164.
0:05:51 > 0:05:55166, 166, 168.
0:05:55 > 0:05:56170 here.
0:05:56 > 0:05:59At 172, 174, 176, 174, 176 then.
0:05:59 > 0:06:01At 174's on the right now, 174.
0:06:01 > 0:06:04You're in line, be careful. At 174.
0:06:04 > 0:06:10At 174, 175 is it? At £174,000 on my right hand side at 174 then.
0:06:10 > 0:06:12At 174 then.
0:06:12 > 0:06:14On my right at 174.
0:06:14 > 0:06:17Can't quite do that. We're extremely close on that.
0:06:17 > 0:06:20Another thousand and we'd be able to put a deal together.
0:06:20 > 0:06:25The house didn't quite make its reserve, but was bought after
0:06:25 > 0:06:30the auction for 175 grand by local electrician, Paul.
0:06:30 > 0:06:33I met him back at the house to find out more.
0:06:34 > 0:06:36- Paul, nice to meet you.- Hi.
0:06:36 > 0:06:38What happened there, then?
0:06:38 > 0:06:42I thought about all the other properties that were going through as well,
0:06:42 > 0:06:48thought about what I had been thinking about for four years and not having actually done anything.
0:06:48 > 0:06:53I sat in my van then for about 20 minutes and thought about myself and went over the sums that I'd
0:06:53 > 0:06:57been doing and it seemed that it would still work out, just about,
0:06:57 > 0:07:00if I went through with it anyway, so I gave it a go.
0:07:00 > 0:07:03What was it about this house that made you think,
0:07:03 > 0:07:05"This is the one that I'm finally going to have"?
0:07:05 > 0:07:07I viewed a number of properties -
0:07:07 > 0:07:12I think I looked at six - and this one was the best one of them all, by a long way.
0:07:12 > 0:07:18A lot of the others were almost like building sites and I've worked on a number of building sites
0:07:18 > 0:07:21so I didn't really fancy taking a chance or taking a risk
0:07:21 > 0:07:24on looking at or purchasing a house that needed a lot of work.
0:07:24 > 0:07:30- Talk me through the project plan. What's the plan of action?- I've had a couple of valuations already.
0:07:30 > 0:07:35One of them was £190,000 as it stands,
0:07:35 > 0:07:40and if I do the bathroom and kitchen, that would be £200,000.
0:07:40 > 0:07:44That's not that much more than what I paid for it,
0:07:44 > 0:07:48so I've now been considering talking to others on how much I can rent it out for.
0:07:48 > 0:07:51It's around about £1,000 to £1,200,
0:07:51 > 0:07:56so if I can rent it out for £1,200 here, that would be great.
0:07:56 > 0:07:59It certainly would be a good buy then.
0:08:00 > 0:08:04So it does look like Paul is going down the rental route.
0:08:04 > 0:08:07He's put aside a maximum budget of £10,000
0:08:07 > 0:08:10and in this case, that should be a safe bet,
0:08:10 > 0:08:13which is want you want on your first venture into property developing.
0:08:14 > 0:08:20So what do your friends and family think about the fact that you've finally made the leap?
0:08:20 > 0:08:23So far I haven't told too many of my friends.
0:08:23 > 0:08:27There's only a few who are aware of it but my family, my sister, in particular -
0:08:27 > 0:08:31I've been bending her ear on these things for a long time - she was chuffed to bits with it.
0:08:31 > 0:08:36She was over the moon when she finally knew that I'd done something on it and purchased the property.
0:08:36 > 0:08:41She came to have a look recently as well and she was very impressed with the house.
0:08:41 > 0:08:46Now he can stop bending his sister's ear about making that leap.
0:08:46 > 0:08:49He just needs to get on and do the work.
0:08:49 > 0:08:52Four years of thinking about it, and he's finally bought
0:08:52 > 0:08:54his first investment property,
0:08:54 > 0:08:58but all credit to him, because making that first leap is always the hardest.
0:08:58 > 0:08:59How's he going to get on?
0:08:59 > 0:09:03Well, I reckon he's going to do really well, because this is a great property.
0:09:03 > 0:09:07You can find out how he does with it later in the show.
0:09:14 > 0:09:16For our next property,
0:09:16 > 0:09:18We're in central London in Marylebone.
0:09:18 > 0:09:21It's one of the chicest parts of town,
0:09:21 > 0:09:23loved by both millionaires and celebrities.
0:09:23 > 0:09:26This tucked-away area with a villagey feel
0:09:26 > 0:09:32is home to the likes of Madonna, so I'm expecting something special.
0:09:32 > 0:09:37So, just minutes away from all that excitement is Penfold Place.
0:09:37 > 0:09:40Now remember, this is Central London.
0:09:40 > 0:09:42It's Zone One, and prices are high.
0:09:42 > 0:09:48So when a one-bed flat with a guide price of £155,000 is up for auction,
0:09:48 > 0:09:50it gets the neighbours talking.
0:09:50 > 0:09:55This flat is on the first floor, which means there aren't too many stairs to climb.
0:09:55 > 0:09:59That's good news for buyers, and my legs!
0:09:59 > 0:10:06This is a spacious reception area, which is good because you've got to think about putting a table in here
0:10:06 > 0:10:11and a sofa. What I do like about this space is that it's double aspect,
0:10:11 > 0:10:15which means you have two total different views.
0:10:15 > 0:10:20Now there's no garden, but you have got a nice balcony, which does count for something.
0:10:21 > 0:10:26It's not big enough to recreate the balcony scene from Romeo And Juliet,
0:10:26 > 0:10:29but it is just about big enough for a potted plant or two.
0:10:29 > 0:10:33You'd certainly need some fresh air, because this flat is filthy.
0:10:33 > 0:10:38Sadly, the colour scheme is not from some fancy designer's paint chart.
0:10:38 > 0:10:42That tobacco colour is all genuinely acquired.
0:10:42 > 0:10:45# Smoke gets in your eyes... #
0:10:45 > 0:10:49And I certainly wouldn't fancy a sandwich that had been prepared in here.
0:10:49 > 0:10:56This kitchen is very small and cramped, but I do love the outlook onto that nice shared patio area.
0:10:56 > 0:10:58Be quite nice in the summertime.
0:10:58 > 0:11:02Now this kitchen, in my opinion, needs a minimalist makeover.
0:11:02 > 0:11:07Some clever design will certainly make up for the lack of space.
0:11:07 > 0:11:10You'll have to continue the clever design theme in the bedroom, too.
0:11:10 > 0:11:14It's small, but then, what would you expect in a flat this central?
0:11:14 > 0:11:17After all, the location is the main attraction.
0:11:17 > 0:11:21This is definitely a fashionable part of town.
0:11:21 > 0:11:26But this flat is more decked out in charity-shop attire than haute couture.
0:11:26 > 0:11:30This flat doesn't have views, it doesn't have space, it's got no garden,
0:11:30 > 0:11:34but it's in central London and it's got a fantastic postcode.
0:11:34 > 0:11:39And let's face it, you're a black cab ride away from everything Central London has to offer.
0:11:39 > 0:11:42Bond Street, please.
0:11:45 > 0:11:47Right, lot 27
0:11:47 > 0:11:52is Bowmans Buildings, Penfold Place, Marylebone, London, NW1.
0:11:52 > 0:11:54Leasehold flat.
0:11:54 > 0:11:58Who'd like to start off on this? I don't know. 200,000?
0:11:59 > 0:12:03205. 210.
0:12:03 > 0:12:06215. 220.
0:12:06 > 0:12:09225. 230.
0:12:09 > 0:12:11226 - try and help.
0:12:11 > 0:12:16226. 227, sir. 228.
0:12:16 > 0:12:19227, with you. 228.
0:12:19 > 0:12:21228, new spot.
0:12:21 > 0:12:22229.
0:12:22 > 0:12:25230.
0:12:25 > 0:12:31231. Never stop on 230. 231.
0:12:31 > 0:12:34231, well done. 232.
0:12:34 > 0:12:35233.
0:12:35 > 0:12:39Yes? 233. 234.
0:12:39 > 0:12:42235. 236.
0:12:43 > 0:12:46236? 237.
0:12:46 > 0:12:47238.
0:12:47 > 0:12:49238.
0:12:49 > 0:12:51239.
0:12:51 > 0:12:52240.
0:12:52 > 0:12:54241.
0:12:54 > 0:12:56242.
0:12:56 > 0:12:58242. 243.
0:12:58 > 0:13:01244.
0:13:01 > 0:13:03244. 245.
0:13:03 > 0:13:05246.
0:13:05 > 0:13:07246?
0:13:07 > 0:13:09247.
0:13:09 > 0:13:11248.
0:13:11 > 0:13:12248.
0:13:12 > 0:13:14249.
0:13:14 > 0:13:19250. 251. 251. 252.
0:13:19 > 0:13:24251, back with you. 252?
0:13:24 > 0:13:29251 - first time, second time, third and last time. Are you all done?
0:13:29 > 0:13:32Sold - 251. Well done, madam.
0:13:32 > 0:13:36The successful bidder was Chantana.
0:13:36 > 0:13:40But she's just gone over the £250,000 stamp-duty threshold,
0:13:40 > 0:13:42and that's going to hurt.
0:13:42 > 0:13:47I caught up with her back at the flat to find out why she did that.
0:13:47 > 0:13:52Because you paid £1,000 over the £250,000,
0:13:52 > 0:13:55you had to pay eight grand stamp duty.
0:13:55 > 0:13:57Now, how did that make you feel?
0:13:57 > 0:14:00Oh, angry. I was very angry.
0:14:00 > 0:14:03I admit, I didn't prepare well at all.
0:14:03 > 0:14:07- Do you think you paid too much for this flat?- To be honest, yes, I do.
0:14:07 > 0:14:11I do think I paid over my plan,
0:14:11 > 0:14:17and my experience of the property that I've been looking around,
0:14:17 > 0:14:22I would not have paid more than top price of 230,000.
0:14:22 > 0:14:27- So it's clear to say you just got carried away on auction day?- Yes.
0:14:27 > 0:14:28But I'm intrigued.
0:14:28 > 0:14:33She's originally from Thailand, so what brought her to the UK?
0:14:33 > 0:14:36I came over when I was a teenager, about 16.
0:14:36 > 0:14:41And I couldn't speak a word of English.
0:14:41 > 0:14:47I was supposed to come here to study English and some short courses like secretarial.
0:14:47 > 0:14:51And somehow or other, I end up living here.
0:14:51 > 0:14:55And in my mind I have this business sense that I want to do something.
0:14:55 > 0:15:00And I heard about buying property a lot and all the time, I wrote back
0:15:00 > 0:15:04to my mum to say, "Oh, why don't we do this, why don't we do that?"
0:15:04 > 0:15:09- Is she helping you to fund a lot of these projects?- It's her money!
0:15:09 > 0:15:14It's her money! But she opened a bank account here in this country many years now.
0:15:14 > 0:15:20So she has some funds she allows me to have access to. But she trusts my judgment.
0:15:20 > 0:15:25This flat is the latest one that Chantana's mum has provided the funds for.
0:15:25 > 0:15:28I just hope it's worth it.
0:15:28 > 0:15:31What are you going to do in here? What are your plans for this flat?
0:15:31 > 0:15:37I've had a good look now, and I don't think I need to do too much,
0:15:37 > 0:15:40er, apart from interior decoration.
0:15:40 > 0:15:44Certainly, definitely, needs a lot of cleaning and...
0:15:44 > 0:15:47- It sure is dirty.- Very dirty.
0:15:47 > 0:15:51Whoever lived here before must have been here years and years.
0:15:51 > 0:15:56- And what about the kitchen?- I think that with a few modernisations
0:15:56 > 0:16:01- and everything, it should bring it up to a good standard, yeah. - What about your bathroom?
0:16:01 > 0:16:05Bathroom. I like baths, so I'm not going to get rid of the bath.
0:16:05 > 0:16:13But maybe add some sort of shower system in there as well, and again really clean it up.
0:16:13 > 0:16:15# Smoke gets in your eyes. #
0:16:15 > 0:16:20After going well over her budget and with that extra £8,000 in stamp duty,
0:16:20 > 0:16:25I'm guessing Chantana's going to have to keep renovation costs down as much as possible.
0:16:25 > 0:16:28When I saw it, the viewing day,
0:16:28 > 0:16:34I told my mum that, "Mum, you have to spend 20,000."
0:16:34 > 0:16:37But looking at it today,
0:16:37 > 0:16:40- I hope that it will be less. - I think you could do this on less.
0:16:40 > 0:16:44I don't think that you need to spend 20,000 to bring this up to standard.
0:16:44 > 0:16:48# So I smile and say... #
0:16:48 > 0:16:54You've certainly got a good sense of humour about all of this. I mean, it's quite fun to you, isn't it,
0:16:54 > 0:16:58- buying property and doing them up? - Yes. I mean, you've done it now.
0:16:58 > 0:17:06What is the point of... You make the best of it, and my instinct hasn't gone wrong so far with property.
0:17:06 > 0:17:10# Smoke gets in your eyes. #
0:17:10 > 0:17:17Chantana didn't play the auction game very carefully, and got stung for that 3% stamp duty.
0:17:17 > 0:17:22But she did remember the first rule of property developing - location.
0:17:24 > 0:17:28Well, it's been some time now since we last saw those properties.
0:17:28 > 0:17:31There should have been some work done but you never know.
0:17:31 > 0:17:32Things don't always go to plan.
0:17:32 > 0:17:35Let's see what's in store for our buyers.
0:17:36 > 0:17:44Back in Cardiff, local electrician Paul had bought this four-bedroom terraced house for 175 grand.
0:17:44 > 0:17:50He'd spent four years measuring up the pros and cons of property developing.
0:17:50 > 0:17:55Well, just eight weeks later, had Paul been wise to put pen to paper?
0:17:55 > 0:18:00The outside's looking spick and span, with fresh paintwork.
0:18:05 > 0:18:10And the garden has emerged from that tangled mess, complete with patio area.
0:18:12 > 0:18:15Inside, wow!
0:18:15 > 0:18:19That kitchen/diner has been transformed with new carpets,
0:18:19 > 0:18:22fresh paint and a fantastic kitchen suite.
0:18:24 > 0:18:26The kitchen has been OK.
0:18:26 > 0:18:28The problems that we faced in here,
0:18:28 > 0:18:34the sink that was a problem to position first of all with the appliances, with the washing machine.
0:18:34 > 0:18:37There was also a problem with the cornering as well, with the worktop.
0:18:37 > 0:18:42It's worked out quite well in that area, where there was a fair few cuts to be made,
0:18:42 > 0:18:46and there was also an issue with the extractor fan that we couldn't extract out
0:18:46 > 0:18:51onto an external wall, so we had to take it through the ceiling void, and then obviously
0:18:51 > 0:18:56the set-up with the positions for the integrated appliances, and that seems to be working out
0:18:56 > 0:19:03quite well too, so a lot of them are integrated, as you can see, and I'm quite happy with all of that.
0:19:03 > 0:19:05It looks pretty good. I'm pleased.
0:19:07 > 0:19:11Elsewhere, there have been less dramatic but equally effective changes,
0:19:11 > 0:19:17which have transformed the rather old, shabby condition of the house into something bright and modern.
0:19:37 > 0:19:40As he paid 175 grand at auction,
0:19:40 > 0:19:45Paul was conscious that he needed to keep his costs down if he was to see any profit at all.
0:19:48 > 0:19:55The original budget for the house was £5,000 on the kitchen and carpets
0:19:55 > 0:19:57and I've spent about £5,000 now.
0:19:57 > 0:20:01He's done a great job of keeping those costs under control,
0:20:01 > 0:20:04but what does he now plan to do with the property?
0:20:07 > 0:20:13My plan for this house now, as originally, is to sell it.
0:20:13 > 0:20:16I did consider renting it out but then finding out
0:20:16 > 0:20:20a bit more information on HMO, I decided to stick with the same plan
0:20:20 > 0:20:24of just renovating and reselling, putting it straight back on the market.
0:20:24 > 0:20:27Having an HMO, or House Of Multiple Occupancy,
0:20:27 > 0:20:30is a way of maximising rental income,
0:20:30 > 0:20:34but there are rigid guidelines you have to follow to comply with the rules for these,
0:20:34 > 0:20:37such as alarm systems and emergency lighting.
0:20:37 > 0:20:39The cost and time involved meant that
0:20:39 > 0:20:43Paul decided it wasn't worth doing, so was that the right decision?
0:20:43 > 0:20:46Time to ask the agents.
0:21:03 > 0:21:05If I was looking to sell this property on
0:21:05 > 0:21:07in its current condition,
0:21:07 > 0:21:09I would suggest it going on the open market
0:21:09 > 0:21:11for sale at around £199,000.
0:21:11 > 0:21:16That could mean a £10,000-15,000 profit for just six weeks' work,
0:21:16 > 0:21:21but should he have invested that money into converting the house into an HMO and rented it out?
0:21:24 > 0:21:26If he'd gone down the HMO route,
0:21:26 > 0:21:29then you would have been able to have effectively let out
0:21:29 > 0:21:31four to five bedrooms here,
0:21:31 > 0:21:37each giving £225 per calendar month return, which would have been £1,250 per month.
0:21:37 > 0:21:42With that potential whopping rent of over £1,200 per month,
0:21:42 > 0:21:45does he regret not going down that route?
0:21:45 > 0:21:48I didn't really feel that it was worth my while doing that.
0:21:48 > 0:21:53Well, for a first-time project, I think Paul's right to take the money and run.
0:22:00 > 0:22:04I'm pretty thrilled when I think about what I've achieved in the time.
0:22:05 > 0:22:09I wish I had done this when I was old enough to get a mortgage,
0:22:09 > 0:22:12which would have been five, ten years ago.
0:22:12 > 0:22:14Yes, but the important thing is he's done it now,
0:22:14 > 0:22:17and overall, I think he's made all the right calls!
0:22:27 > 0:22:32Back to central London now and that one-bedroom flat in Marylebone.
0:22:32 > 0:22:36When it went to auction, property developer Chantana
0:22:36 > 0:22:42paid way over the guide price when she bought it for £251,000.
0:22:42 > 0:22:48Now I feel much happier, now that it's done and looks totally different.
0:22:50 > 0:22:54Chantana has used a number of builders for her projects in the past,
0:22:54 > 0:22:56but decided to go with a new one on this flat.
0:22:56 > 0:22:59So, how did that work out?
0:22:59 > 0:23:02Overall I am happy, very happy, actually.
0:23:02 > 0:23:07He rewired everything for me as well and replumbed everything.
0:23:07 > 0:23:08And I had the floor insulated.
0:23:08 > 0:23:12This was a... I keep, you know, pressing on about that.
0:23:12 > 0:23:14I'm worried about the neighbour below.
0:23:14 > 0:23:18Fitting sound insulation to the floors and ceilings of flats like this
0:23:18 > 0:23:23is certainly a good idea, especially if you are thinking of renting the property out.
0:23:23 > 0:23:26What other changes has Chantana made?
0:23:26 > 0:23:32We practically ripped everything out. The last tenants smoked a lot.
0:23:32 > 0:23:34All the nicotine was on the wall.
0:23:34 > 0:23:35Smelly, dirty.
0:23:35 > 0:23:37So there was nothing usable.
0:23:37 > 0:23:39There was no cupboards or anything anywhere.
0:23:39 > 0:23:44We fitted a new cooker and a new oven. I bought these brand new.
0:23:44 > 0:23:50New sink, cupboard, fridge and the radiator as well as the boiler.
0:23:50 > 0:23:55The new fixtures and fittings in this kitchen are definitely a vast improvement,
0:23:55 > 0:24:00but I do wonder why Chantana has gone for that white hob on the cooker.
0:24:00 > 0:24:04Surely stainless steel would have been a much better match.
0:24:04 > 0:24:07And what about that manky, old bathroom?
0:24:09 > 0:24:15We ripped out the whole bathroom and tiled it up, right to the ceiling.
0:24:15 > 0:24:19Put the new bath, new basin, new toilet
0:24:19 > 0:24:24and new radiator behind the door as well.
0:24:24 > 0:24:28I criticised the builder, who put the basin a little bit too big.
0:24:28 > 0:24:32Because the room is small, but at least we tiled all the way
0:24:32 > 0:24:36up to the ceiling, hoping it would make the room a little bit taller.
0:24:36 > 0:24:40She's right, that wash basin is a bit too big for this room.
0:24:40 > 0:24:44I do wonder if tiling all the way up to the ceiling was the right way to go.
0:24:44 > 0:24:48It makes the room feel taller, but maybe also a bit narrower.
0:24:48 > 0:24:51A mirror on one wall would help.
0:24:51 > 0:24:56In order to make sure that this place gets the best start possible,
0:24:56 > 0:24:59Chantana has a plan up her sleeve.
0:24:59 > 0:25:04I'm going to invite a monk, when everything fitted, furniture and all that.
0:25:04 > 0:25:09Invite a monk round to do some prayer, chanting,
0:25:09 > 0:25:13and sprinkle some holy water all round the flat.
0:25:13 > 0:25:14Just to bless the flat.
0:25:14 > 0:25:18This is what we always do in Thailand, in the Buddhist,
0:25:18 > 0:25:22you know, system...
0:25:22 > 0:25:25You feel better to live in a house after it's been blessed.
0:25:29 > 0:25:35But will it take more than a monk's blessing for Chantana to make money?
0:25:35 > 0:25:42Going over the stamp duty threshold means that she's spent nearly 259 grand on buying this place.
0:25:43 > 0:25:51The renovations have cost her around 13,000, making a total of £272,000.
0:25:51 > 0:25:52So, was it all worthwhile?
0:25:52 > 0:25:54Time to ask the estate agents.
0:26:10 > 0:26:13What's the resale value likely to be?
0:26:13 > 0:26:18I would place a value on this property of around £265-270,000.
0:26:18 > 0:26:21Based on properties that have sold around here,
0:26:21 > 0:26:23I would put it on for just under 300.
0:26:23 > 0:26:25Oh, really?
0:26:25 > 0:26:27Just under 300.
0:26:27 > 0:26:28Wow, I'm impressed.
0:26:28 > 0:26:33Hold on there, Chantana, because if the lower valuation
0:26:33 > 0:26:39of 265-270,000 is closer, you could end up actually losing money.
0:26:40 > 0:26:43So, what's next for Chantana?
0:26:44 > 0:26:50Now that this builder has impressed me, I might have another project further.
0:26:50 > 0:26:52- Hopefully.- Really?
0:26:52 > 0:26:56But I promise not to go mad in the auction!
0:26:58 > 0:27:01Buying at auction is a real rollercoaster ride.
0:27:01 > 0:27:04But one thing for sure, you're guaranteed excitement
0:27:04 > 0:27:05when you go a property auction.
0:27:05 > 0:27:09So join us next time for more thrills and spills under the hammer.
0:27:09 > 0:27:11- See you then.- Goodbye.
0:27:16 > 0:27:19Subtitles by Red Bee Media Ltd
0:27:19 > 0:27:23Email subtitling@bbc.co.uk