Episode 15 Wreck or Ready?

Negotiating a steady path through today's property minefield has never been tougher.

One road could lead to the home of your dreams...

And the next to a financial cul-de-sac.

So is it really safer to splash your entire budget on a ready-made home?

Or is it possible to get everything you want in a Wreck you do up yourself?

With a bit of imagination, I believe that you can get a property

that's ripe for renovation and turn it into the home of your dreams.

Yeah, yeah, but not everybody loves DIY, Jonnie.

Why not pay a bit more to find a home that's perfect

from the moment you open the door?

So I'll be showing today's couple properties that are ready and can be homes without the hassle.

But I'm here to prove the potential rewards are worth the effort for renovation.

-So with so much at stake, will today's buyers go for one of my Wrecks?

-Or one of my Readies?

Today we're searching in the South Cotswolds, an area spanning five English counties.

It's home to the archetypal English village,

with its rolling, picture-perfect countryside.

The Cotswolds are so sought-after, that they've been

relatively unaffected by recent fluctuations in the property market.

A detached house in one of the premium villages

goes for a pricy 489,000.

That's almost 29% above the national average.

And with such high property prices, we could be in a bit of trouble

finding today's couple, Matt and Emma, a property on their budget.

They've got 400k to spend on their first family home,

where they can bring up their up their one-year-old son, Alexander.

The couple moved to Australia in 2005 but, after four fantastic years,

decided to move back to the UK and be closer to their folks.

Emma worked in risk management before emigrating to Oz,

and now runs a business consultancy service from their rental home in Almondsbury,

a village just north of Bristol.

It's a handy location, because Matt also commutes every day to Filton, near Bristol,

to work as a management consultant for the family business.

But before we can help them get out of rented and settled back in the UK,

we need to find out exactly what they want in their new home.

And see who's up for a Wreck...

And who wants a Ready.

Now apparently,

-Emma and Matthew today.

-Lovely.

-Let's have a look, shall we?

-Hi, my name's Emma.

-Hi, my name's Matthew.

-We decided to move out to Australia because

we'd just got married and fancied a new start somewhere different.

So Matt was asked to take a job working for an aerospace company in Australia and I managed

to tag along and get offered a job at the same company, and we were out there for a total of four years.

I think the turning point was, we had a young family out there, our son.

That was the catalyst to say, we've enjoyed it, we've had a great time, but now let's migrate back.

-It's obviously all about the family, isn't it?

-Yeah.

My ideal scenario, I would probably lean well towards a Wreck.

I'm keen to make my mark on a property.

Yeah, but the realities of living in that when you've got a toddler running round...

It's huge, the implications are huge.

Something we could just move into and decorate a bit would be just be perfect.

Our budget for this search really is 350,000 to 400,000.

Having been in Australia, we really like the open-plan lifestyle that goes along with that.

For me, I'd want some off-street parking.

Minimum of three bedrooms. Preferably more.

Ideally, detached property.

We're obviously looking for as much space as we can, for the growing family.

I'd love an en suite, into the main bedroom, which we don't have at the moment.

Safe environment and a really village-y environment is what we're looking at.

I think if we had a choice, we'd prefer a period property, with more period features.

What comes with period features, though?

-Small rooms.

-Exactly, and they've just said open-plan.

-Yeah.

-Large, spacious, airy rooms.

-Mm-mm.

-Not necessarily period, is it?

-No.

That's a first compromise, I reckon.

And the budget would have to include the work, if we're buying a Wreck.

It would have to be something we could live in for the time being,

if it was going to take us to our maximum budget and that we could then work on,

over the next few years.

-So an ongoing project.

-Well...

-If a project at all.

-Yeah.

They don't sound...

They're quite green, in fairness, aren't they...

They don't sound like they've done a DIY project before and loved it.

I want to be able to take a property, do the work to it and say,

"This is how we want it and it's perfect."

-Do you really think we've got the time to do that?

-That's a very good question.

Maybe if we got something... Maybe a new kitchen or a new bathroom

would be much more practical than trying to rip off the back of a house,

build another storey or do big renovation work.

The cards are stacked towards the Ready, just with experience and what have you.

Yeah, I think so, but whether I'm going to be able to give them

the space they require within their budget, is another thing altogether.

I think they're open-minded, but they're going to need their hands held.

Yeah, I think, and you're the man to hold their hands, Jonnie.

Well, I like holding hands, you know, I'm a friendly guy. Come on.

So, to sum up, Matt wants a Wreck and Emma wants a Ready,

but they're both looking for a detached, open-plan house.

With a minimum of three bedrooms.

In a pretty village location.

And a maximum of 40 minutes' drive from North Bristol.

They also want a garden big enough for children to play in.

All within a budget of £400,000.

They've been spoilt in Oz by big spaces and open-plan living,

but Emma wants that in a ready-made home, without doing any work.

And cottages in the Cotswolds are often big on character, but tight on space, so for their budget,

open-plan Readies aren't going to be easy to find.

Not without a bit of work, anyway, and I might get that... off Jonnie as a result.

-But I'm sure it'll be worth it.

-You will get that off me as well!

Renovation projects are my domain, but in this area those with enough convertible living space -

and in Matt and Emma's favourite villages - are few and far between.

So I'm going radical with my first offering.

It'll also test Matt's mettle as a rookie renovator.

Brace yourself, because this derelict village house is clearly in need of a total renovation.

And is on the market for just shy of 300 grand.

That's only 100 under their budget.

With the amount of money that needs spending here, Matt and Emma will get a rude awakening.

But this might be the only way I can begin to match their budget

with such a specific list of requirements.

Wow, I'm speechless. You're playing right into my hands, Jonnie.

Just think of all the potential, Jane.

It sits on an acre plot and has about a 200-square-metre footprint,

so room for four bedrooms and as much open-plan living as they can handle.

Plus, it's only 35 minutes to Matt's work, so if the location works,

this long shot might just hit the target.

Matt and Emma, welcome to Leonard Stanley.

-I love that name. It's great, isn't it?

-It is.

What I was really looking forward to showing you was your quintessential

English village. You've got a primary school.

-Latest Ofsted report put it down as outstanding.

-Excellent.

-There's a baby-and-toddler group that meets up on a Wednesday.

-Good. That'll be mine.

-Good, good, good.

Football, cricket clubs, church, and most importantly, there's a pub.

-Brilliant.

-Brilliant.

Yet it's only around, what, 35 minutes from where you need to be.

-Yeah.

-Excellent.

-How good's that?

-Great.

-First impressions, yes.

-It's really nice.

-Very positive.

-Prices in this village are at a premium, OK.

-OK.

-Right.

-So deep breaths. Let's go and have a look at the house.

-OK.

-OK.

Yeah, they better breathe deep, because this place is a shocker.

Oh, no!

-Wow.

-There's, er, no roof.

-It's a project.

Matt, you asked for it...

Yeah, and he's going to get it as well!

It's Emma's nightmare, potentially.

It is daunting. I mean, certainly looking at it, it's certainly beyond any of my skills.

-Yeah, I'd say so.

-We've still got to see the whole property, but certainly the potential in size...

-I mean, the end result is going to be a big family home.

-Yes, it is.

It's on the market for...

-just under £300,000.

-Right.

-Really? Wow.

-Mm.

-Now, the agent has tipped the vendor to say they probably should be looking at more like 250ish.

-Mm.

The guy that owns it is a builder.

He bought it initially to try and develop the back garden.

That consent has been declined.

-Right.

-So he now wants to offload it, but he will build it for you.

-Oh, OK.

-Oh, OK.

-That helps.

-He's put costs in at around £200,000.

-Right.

-So at the moment, we're looking at potentially 450.

-Emma?

Is that too much for you?

I have visions of living in a caravan for the next two years,

with children and pets and stuff, while we're trying to make something ready to live in.

What did I tell you? It's Emma's worst nightmare come true.

Give her time! If they're willing to grasp the nettle, this could be the ultimate labour of love.

There's a lot to take on here and the sting is that it pushes their original budget.

We've been quoted in excess of 200 grand to renovate,

so on top of a potential purchase price of 250,000,

that's 50 grand more than the 400 they wanted to spend.

Similar properties around here sell for up to £500,000,

so they shouldn't be out of pocket when all the work's done.

-Certainly got massive potential.

-It's just the money.

I'm concerned it's going to cost a fortune and we'll run over budget.

See, I told you!

There's no doubt this place is a big ask for them, and it would push them over budget.

But opportunities like this one are as rare as hens' teeth.

I know what you're saying, but I think it was a project too far for Matt and Emma.

Time for a nice soothing Ready, I think, and they don't come much readier that this,

four-bedroomed, '70s detached house.

On the market for just under £360,000.

I thought they wanted to live in the Cotswold dream.

That is no period stone cottage.

No, but it is a perfectly functional family home on the outskirts of Yatton Keynell -

a beautiful English village.

As compromises go, and given the price of open-plan Readies in this area, it's not bad.

The village is also home to a pub, post office and shop, a doctor's surgery and a good primary school.

Plus, it's under 40 minutes' drive from North Bristol, so easily commutable for Matt.

It looks like a good-sized family house.

Garage for Matt, which was on the wish list.

Fields out the back, so it seems like a nice quiet cul-de-sac.

What about the style of it? It's a style I've not seen a lot of before.

-No, it's, different.

-What would you say it is?

It's certainly a period style. It's whether you like that period or not.

Harsh, Jonnie, but at least I'm offering them a roof over their heads,

which is more than you were with that Wreck.

OK, it might not be everyone's cup of tea, but it's got four bedrooms,

a partially open-plan living area and a large south-facing garden, perfect for little Alexander to play in.

Besides, the village is quintessentially Cotswolds,

and properties here are selling like hot cakes.

Very droll! Let's hope they've got asbestos fingers.

Right, Emma.

-There's a cloakroom just out in the hallway there.

-Right.

In terms of being a Ready, this is as ready as they come.

It's been done very well.

So you've got a nice, big open-plan space here.

-It looks lovely. It's nice to have somewhere to eat in the kitchen.

-Yeah.

This looks like a good practical house, in terms of just being able to move in, carry on with life,

without having to worry about everything else.

-That's my girl! It's practical, we like practical things, don't we?

-Exactly.

Practical is one thing, and Emma might be buying it, but Matt's not saying much.

You don't like it very much, do you?

I'm yet to be convinced.

-Let's...

-I know, I know those signs.

..see what's up stairs.

-It's got a bathroom here.

-Bathroom.

-And what looks like a kid's bedroom.

-Oh, perfect.

I think he just needs to get to know the place a bit better,

and wait till he hears the good news about the price.

Dare we ask how much this is on for?

-Well, you might be quite surprised actually, cos this is coming in at £40,000 under...

-Really!

-..your budget, just under 360.

-Now you like it, don't you?!

-Does that bring you over to my side a little bit more?

-I'm still sitting on the fence.

It is a very nice property but I'm not, I'm not getting the real feel from it.

But look, I mean, it doesn't look like a Cotswolds house, to me.

Now I'm not trying to put words in your mouth,

but I want to learn from you to see where we go next.

-Mm.

-Now I've shown you, OK, a complete Wreck.

-No!

-But it was character, an acre of land in the centre of a beautiful little village.

-Yes.

-This...is practical.

-Move in straight away, but it's smaller and doesn't have that character.

-Mm.

Now, where you both figuring here?

-I think we need the perfect mix of the two.

-Yeah.

-Oh!

-I know, I know, but... I guess I'm with Matt to some extent that the house is lovely

and practical, but not necessarily getting the warm, fuzzy, "this is our home forever" type feeling.

For me it doesn't actually... Once you're inside it's not as big

as what it looks from the outside.

-Oh, OK.

-Whether that's because of the flow or the openness about it, the open-plan...

-Mm.

-I'm not getting that feel that once we had all our furniture in,

and Alexander, and the usual destruction that comes with it.. We might be tripping over...

-Right.

-...ourselves a little bit.

Oh, dear, looks like it's back to the drawing board for both of us.

I reckon for my next Wreck, it needs to be maybe the halfway house

between this place and the place I showed them this morning.

-Yeah, that was a little bit much, but it was gorgeous.

-Wasn't it just?

It was, it was amazing, but for me, I think location is still really important.

Maybe I'll try and find them something with a bit more character. Wouldn't go amiss.

-Probably halfway between both of our houses, then!

-Yeah.

-Good luck.

-Yeah, Good luck.

It's time to divide and conquer.

This area is so sought-after, that even with a healthy budget

of 400 grand, they're going to have to make some compromises.

But if the perfect Ready is out there, I'll find it.

I'm still disappointed they didn't go for my derelict village house, but I'm determined to find Matt

a project that he can get his teeth into, without biting off more than he can chew.

So many times I think big is beautiful, but after Jane's last Ready, I don't think it's the size,

I think it's how useable the space is, so I'm now focusing on a house they can create their best

open-plan kitchen/dining experience possible, but also has a community feel, and I think it's right here.

So, I'm taking us to Avening.

It's slightly further away from Matt's work, but they've all but ruled out the two properties

we've shown them closer to North Bristol,

so I'm hoping it's worth the extra five-to-ten minute drive.

It's still got the Cotswold village feel they want

and has all the local shops and amenities a family could need.

And look at this - they've even hung out the bunting for me!

I think that's actually a village fete, Jonnie!

Or maybe they're celebrating my next property,

a modern stone-clad house on the market for £295,000.

Whilst it's not a total Wreck, it will need some hefty development,

to bring it in line with Matt and Emma's needs.

-OK.

-Looks big.

-Yes, it's a good size.

-Uh-huh.

-Right.

-I know you liked a bit of character...

-Yeah.

..but you seemed to also like Jane's Ready.

-Yeah.

-So it's a modern house, yet with the Cotswold stone facade.

-Good stuff, OK.

-Yeah.

-Now I am suggesting that we extend this house and refurbish it at the same time.

-OK.

You can move into it straightaway, but there's a real opportunity here.

Look at next door. Next door's house has been extended.

That shows you've got an established precedent.

-The planners should be quite amenable for you to doing exactly the same.

-OK.

-Right.

-Next door's house is on the market for offers around £420,000.

-OK.

-Right.

-This house is on the market for 295,950.

-Oh, really?

All right. Well, that makes it a more interesting prospect.

-Huge opportunity.

-This is a great opportunity.

-Yeah.

If I'm in Jane's camp, I'm saying, "Look, you know,

"if you like it, buy next door, it's ready to move into at 420."

-This place, you can do it exactly how you want.

-Perfect.

With 100 grand change.

-New extension, that could cost you 40 grand.

-Yeah.

And then you can refurb it to how you want it to be.

There you go, it's your grand design.

It's very... I'm intrigued, yeah.

I have to admit it sounds good, Jonnie, but what horrors are lurking inside?

Well, sorry to disappoint you, Jane, but all it really needs is a bit of updating.

The structure to me looks sound enough.

It's got space, light and four bedrooms, plus, look at those killer views.

Best of all, it makes good financial sense. The asking price is 295 grand.

The extension would cost 40 grand or so,

and out of their original budget of £400,000...

that leaves them with 65 left over to bring this place right up to date.

I hear what you're saying, but I don't think Emma is going to want to

start building new extensions with a toddler running around.

Righty-ho!

Now the kitchen.

First area we're going to change, isn't it?

It's not quite the same with all the mod cons as the last one, is it, really?

No, but I think, unlike Jane's Ready, this could genuinely be opened up into a fantastic room.

Follow me.

I'm quite interested in hearing what you want to do with this space.

It's very bright. The whole house is very bright. It's open.

You can certainly lose the wall there and get the flowthrough.

I was expecting more work to do.

You're improving this house.

Now if you did that extension, then you'd have your office

-on the ground floor at the far end of the property.

-Yeah.

And upstairs, that gives you the opportunity to put an en suite bathroom up there.

-Nice, like it.

-I'm thinking you could do this and extend it with change from your budget.

Yeah, but still cost less than the one that's on sale next door.

-Yeah.

-And then you've got something that suits YOU.

-Yeah.

-Yeah.

-It's doable, isn't it?

-You don't seem daunted, which...

-No.

-...which impresses me.

-No.

I really like the elevated position.

I do have concerns with the garden.

We're obviously on a sort of tiered plot.

-With the hills.

-There's always a compromise.

-Yeah.

But certainly, again private garden, some lovely views across the valley, so yeah, fantastic in that respect.

Yeah, you said it, Matt, this project will be a compromise - mostly for Emma.

Catch you in a minute. Now let's not jump the gun here, Jane.

The garden aside, I think they both rather like this place.

I've got a pretty good feeling about this one, and there's plenty of room upstairs.

I'm really torn with this house.

It's very bright, it's got the feel...

-Mm.

-It feels bigger than it is.

It feels bigger than the last house, though I don't know if it is,

-but maybe the layout just makes it feel more spacey.

-Mm.

It's still a lot to do, to put our mark on it but...

-But it's doable.

-Mm.

-It's nice.

-Yeah.

-Not what I would have picked on paper.

Hear that, Jane? Do you think it's worth going to your last house, or should we just call it a day here?

All right, Irwin, I admit you did a good job selling that place, but I've been busy too.

And my hard work has paid off.

I've found them the ultimate Ready and it's a beauty.

It's a stone village house, for sale at £420,000.

It's 20 grand over budget,

but I've been told that the owner would consider offers above 380 grand.

It's in the village of Hullavington, which is just over 30 minutes away

from Matt's work in North Bristol.

So it takes the prize for the shortest commute.

Other than that, it's got all the stuff we've come to expect from these beautiful Cotswold villages.

There's a pub, a post office, a church and a village shop.

-So far, so normal.

-Yes, but it does have the distinction of being one of Matt and Emma's favourite villages.

They've driven through it, loved it, and, I quote, "would love to live here."

If they like this house, I may have this all sewn up.

There's certainly a lot of space out the front.

Yeah, keen to see inside.

Are you getting this, Jonnie?

Matt's liking my Ready. Get in!

-Cloakroom to the left.

-Mm.

In here,

a really large living space.

-Yeah, it's good.

-Now I want you to picture this, with your bits in.

-Mm.

-Yeah.

-Maybe a little playroom through there, for Alexander.

-Yeah. Can see that definitely. Positive? Yeah.

-Yeah.

But let's carry on out here, cos this is why I think it's going to really work for you.

-You wanted open-plan?

-Yes.

-Ah.

-So we have the kitchen, the dining room, the living room and they all back onto the garden.

-Perfect.

-And there's also a utility room, so...

-Ah, good.

-Let me know your thoughts.

-I like it, yeah.

I think it's a lot better than the other Ready that we saw,

-in terms of what we're after, and the space and the flow is...

-Yeah.

...a surprise actually, it's great!

-There's some really big furniture in as well.

-Yeah.

So once we got ours in, which is a little bit smaller, it's certainly going to feel even bigger as well.

From what I can peek at out the back, it looks like a good garden.

It's a really nice-sized garden. Do you want to go out and have a look?

-Yeah.

-Yeah.

-Come on then.

Got to hand it to you, Jane, I think those might be the best reactions we've had all day.

Good space out here.

-It is much bigger than the last property, isn't it?

-Mm.

But it doesn't stop there, it goes on another third.

-Right.

-It's a great-sized garden.

How does this compare with the last Wreck that Jonnie showed you, and the garden?

-I think, certainly, the garden's a lot bigger.

-Mm.

But it's more enclosed and safer.

-Yeah.

-So, yes, this is a lot better garden than the previous property we looked at.

Well, I'm really pleased you like the garden, cos I think it's fantastic and could really work for you.

It's got everything you need here.

In terms of distance to your work, Matt, just 35 minutes' drive...

-OK, yeah.

-...max, to Bristol, so a great location.

But you probably want to know how much damage it's going to do.

OK, it is over your budget.

-It's on at 420.

-Right.

-Right.

-However, I wouldn't be showing it to you if I thought we couldn't bring it in under that.

-Great.

-I have spoken to the agent and he's assured me we could get it in for under four.

-Fantastic!

-It's been on the market a couple of months, there haven't been any offers.

-Right.

They're probably quite keen to see some movement.

-So does that sound good?

-Positive, yeah.

-It does sound good, yeah.

It was actually built as a four-bed.

-Right.

-It's now three.

-Right.

You could reinstate that easily with a stud wall. That's your project.

-OK, OK, yeah, certainly four bedrooms is the need...

-Yeah.

-But yeah, I'm glad there's something that can be done.

-Yeah!

Hang on a minute, splitting one big room into two smaller ones?

Well, I admire your bravery, Jane!

Well, there's method in my madness.

They still get their three bedrooms, plus a dedicated space for Emma to work in.

Yeah, I suppose you just put the wall back in...

-Yeah.

-...between the two windows.

-But it would make this room...

really only suitable for a study, wouldn't it?

OK, hands up, this property is a bit bottom-heavy, but I'm hoping Matt and Emma

will think it's big enough for their expanding family.

And that's been our aim throughout today's house hunt -

to find the perfect family home in a fantastic village location,

so Matt and Emma can finally unpack their boxes after moving back to the UK from Australia seven months ago.

So your aim wasn't to scare them off with your first Wreck?

That roofless ruin was a step too far, but it did give me a good idea

of how far Matt and Emma were prepared to go for the perfect home.

And my first Ready was a write-off too,

even though it was in a fantastic location.

It didn't quite have the Cotswold character they were after,

and Matt said he wasn't feeling the flow.

My second Wreck was all ABOUT the flow.

It was modern, but still had that character.

And I managed to stay in the race with my final Ready.

Both Matt and Emma cooed over the amount of downstairs space

and the child-friendly garden.

what I want to know is have either of us done enough to claim victory?

It's now all down to my final Wreck.

-Or my final Ready.

-OK, two gone...

-Yeah.

-Two down.

-My next Wreck, bit more of a halfway house.

-Mm.

-What do you think about it now?

-I liked the feeling that we got from the house, even though it wasn't

what we'd have picked on paper, I suppose

-but it had a nice fee, and I think that's cos OF the light and flow through the house.

-Mm.

-I was trying to find you more usable space inside the house.

-Yes.

I think, yes, I think certainly with the proposed extension, it would

give you everything we were looking for, but for me the garden didn't...

Was the killer on that property.

-And the commute.

-Yeah, and the commute.

-Ooh, so...

I thought I was there!

I thought I was there! I was getting the champagne out.

Well, that leaves us with this beauty.

-Yeah.

-In a beautiful location, with a beautiful garden, with an amazing open-plan downstairs.

-Yeah.

-And then you went upstairs and what, what? Tell me!

-Yeah.

-Not really enough space, to be honest...

-Yeah.

-It's quite narrow round the hallways,

-and putting the wall back in is going to make two very small bedrooms...

-Mm-mm.

..and then two bigger ones, and we really need at least three workable bedrooms and a study,

if not four bedrooms, really, so...

as much as we love the location and the garden, it's fantastic.

So out of all of the four properties you've seen, which one would be your favourite, do you think?

-I think it has to be this one.

-This one, yeah.

Yeah, I'll take that as a win! Thank you very much. Sorry, Jonnie!

That's good. No, no...

I mean, actually it's good for you guys as well,

-because now we've got an example of something that was close.

-Mm.

-Yeah.

-And you can compare houses that you find in the future with this.

-Yeah.

Maybe just the upstairs let it down.

-We're getting close. We're getting to it.

-Good. That's a really good sign, and we wish you luck...

-Thank You.

-...in finding your new home.

-Happy house hunting!

And don't forget, you've been to Leonard Stanley! Get a badge!

So the next morning Matt and Emma decided to go back

to the village of Hullavington, where I showed them that last Ready.

And even though the house didn't quite work, Jane,

I think you may have come up trumps with the location.

We've seen a few for-sale signs as we've been walking around,

so keen to explore and get a few more viewings, and pick up where Jonnie and Jane left off.

So, a partial victory for me.

A big project was just too much to handle at this stage for them,

They're now looking for a Ready in one of the locations I showed them.

That's the thing about Wrecks - they're not always the most practical option.

They might seem a great idea, but this was a young family we were dealing with.

-So, join us next time on Wreck...

-Or Ready.

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