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00:00Hello and welcome to the show.
00:03Taking on a property project can feel very overwhelming,
00:07but with the right team of tradespeople and family and friends,
00:12it's amazing what you can achieve.
00:14And if you're flying solo, don't worry,
00:17you might find your next project under the hammer.
00:30Whether you're bidding online or in person,
00:49going to a property auction is a fascinating insight
00:52into what's happening in the property market.
00:55So, what turned heads today? Let's find out.
01:00Coming up, Martin holds his hands up in horror at a lot in Hampshire.
01:06Icky, icky, icky, horrible.
01:09Something's not quite right at my County Durham property.
01:15But whatever it is, it's been going on for a long time and needs addressed.
01:20And there are pros and cons for Dion in Cheshire.
01:24Can't see any cracks, dear.
01:27But we have got a bit of a water problem here.
01:31All these properties have been sold at auction,
01:33and we'll find out who bought them and what they paid for them
01:36when they went under the hammer.
01:38You bought it? Well done, thank you.
01:40We're kicking things off in Hampshire and the charming market town of Andover.
01:48Nestled in the heart of the Test Valley,
01:51with roots tracing back to Saxon times,
01:54Andover flourished in the 18th century as a key coach stop
01:58for travellers heading to London, Southampton and Oxford.
02:02Today it's Martin who's making a pit stop to check out an auction lot.
02:07Over and over and over and over and over and over
02:11Like a monkey with a hair that you see
02:14There are some place names that just make you giggle.
02:18You might have your favourites, but one of mine is where I am right now.
02:21Andover.
02:23I just think of some old-fashioned policeman saying Andover
02:27or, I don't know, Andover Fist or whatever.
02:31Anyway, back to this being a property show,
02:34just not Martin's idle ramblings about place names.
02:37I am here in Andover to see a three-bedroomed mid-terrace.
02:43Guide price, £80,000. Sounds all right to me. Let's have a look.
02:48So, what have we got?
02:56Mould.
02:58Yes, good stuff. Yuck.
03:01Okay, little entrance area here.
03:04Obviously, it's been damp.
03:07I mean, you don't know whether this is just because
03:09it's had nobody living in it for a while by the look of it.
03:13Really, just houses that are just left like that with no heating on.
03:17It's not surprising to see them in a bit of a state.
03:20But I think it might be slightly more than that.
03:21Things like rusty radiators.
03:23I mean, you can use a central heating system, obviously.
03:25I mean, pretty quickly, you're establishing that
03:29this is a house where you're going to have to total refurb.
03:31But in terms of the actual layout, we like it.
03:34Into this big area here, this sort of through dual-aspect living room,
03:39stroke dining room, which is really nice.
03:41Icky, icky, icky, horrible carpet.
03:44But anyway, and then through into this area,
03:48which is like a little conservatory.
03:50I don't know what that is on the floor.
03:52Looks a bit like, might be some kind of a drain,
03:55which is never an ideal thing to have inside the house.
03:58But a little toilet there.
04:00This feels like it's pretty temporary.
04:06Anyway, through here, yeah.
04:08It's quite a nice little area, if you put a new roof on it.
04:11And then you've got the kitchen, which is pretty bleh, like everywhere.
04:16But the layout I like.
04:18I like the fact you can walk around a lot of houses,
04:20you can just sort of preambulate, is it called?
04:23Rambulate?
04:24Perambulate?
04:25Oh yeah, perambulate, that's all.
04:26You can kind of perambulate around, it's quite fun.
04:28But yeah, needs a complete refurb.
04:30But in general, you know, it has potential.
04:33While there's potential to mould this property into something more desirable,
04:47tackling the root cause of the actual mould
04:50on the walls and ceilings needs to come first.
04:53Perhaps a trip up top will uncover the source of the problem.
04:57So I wonder what delights are on offer upstairs.
05:04Who knows?
05:08Anyway, in terms of the room size, we'll just focus on the basics.
05:12Small room towards the front, small bedroom there.
05:14Nice size bedroom towards the back.
05:16A decent sized bathroom, although obviously you want to replace absolutely everything.
05:20And lots more signs of mould and damp there.
05:24But into the third bedroom.
05:29And yeah, it just continues.
05:33I do actually though think a lot of this is just because, as I said before,
05:38it just hasn't been lived in.
05:40And get some airflow, get some heat.
05:42You probably resolve a lot of these problems,
05:45apart from the large holes in the ceiling
05:47and the obvious signs where there's water been powering through.
05:51So roof repairs are on the cards, which can be pricey.
06:05And since everything else, including the kitchen sink, needs to be replaced here,
06:10this renovation won't come cheap.
06:12And we've not seen the state of the garden yet.
06:15So, out the back and a small area laid to a patio, basically.
06:22But you can see this lean-to area.
06:26And interestingly enough, looking at the properties on either side,
06:29they've got a similar kind of thing, but theirs are slightly better constructed.
06:32And it just goes to show, if you did that, you would actually create a nice extra usable space.
06:38And possibly you could even sneak out a bit further.
06:41In terms of the space, obviously, again, like the rest of the house,
06:45it's all a bit in a mess, really.
06:47Open to next-door neighbours on both sides, that's not ideal.
06:51Just a bit of tidying-up required.
06:53Probably the least of you worries.
06:55But it's a good bit of useful outside space.
06:58With the list of work growing everywhere we look, it's time to see what a local estate agent makes of this three-bed mid-terrace
07:07that came with a guide price of £80,000.
07:10Today we're in Andover in North Hampshire.
07:12We're about a two-minute walk from the town centre and ten minutes from the train station.
07:15That being a mainline train station, about an hour and five minutes into London-Waterloo.
07:19You've got the A303 nearby and the A34 as well.
07:24The property itself, it needs a lot of work doing to it, absolutely everything.
07:28There's a lot of mould, a lot of damp.
07:30The garden isn't the largest, but other than that I would say it's a pretty good house once everything's been done.
07:36How much does the agent think the property could sell for once fully refurbished?
07:42Once renovated to a high standard, I'd expect this property to achieve between, say, £275,000 to about £280,000.
07:51And if the buyer plans to rent the property?
07:54Once renovated to a high standard, I'd expect this to achieve £1,300 per calendar month.
07:59So there are two ways of looking at this property.
08:03One, as somewhere you could just move into and live in, and in that case you'd go, bleh.
08:10But if you look at this as a property investor, you're thinking, yes.
08:15You know what? I can add value to that.
08:17It's an interesting one to go for.
08:19Let's see who agreed when it went under the hammer.
08:26This lot was part of a remote auction with bids taking place online.
08:30Sold.
08:32It was friends Scott on the right and Richard who bought the property for £179,000.
08:41The pair are new to property development.
08:43And they met with Martin to tell him why they decided to take the leap with this three-bed mid-terrace.
08:49Scott, Richard, great to meet you both. Congratulations.
08:53I think.
08:54Why do you want to buy this house?
08:56So, we've been looking for an auction property for a while.
08:59Specifically an auction property?
09:01Yeah.
09:02Why?
09:03So, just interested in that way of buying.
09:04Okay.
09:05So, we did a bit of research.
09:07We know the area well.
09:08We both live here.
09:09Oh.
09:10So, yeah, we thought this was a good purchase and I went for it.
09:13What was it that you liked about it, Richard?
09:15The location, mainly.
09:16Yeah.
09:17Yeah.
09:18I live literally two minutes up the road and then he's about five minutes up the road.
09:21Okay.
09:22So, the location is perfect.
09:23It is really central.
09:24I mean, you could walk to the shops and the centre of Landover and all that kind of thing.
09:28What about the state of it?
09:29Yeah.
09:30So, it's in a bit of a state.
09:32I think it was expected but we didn't view the property beforehand.
09:36So...
09:37Why not?
09:38Just the time in which we saw the auction property, we didn't have time to view before the actual auction itself.
09:43Right.
09:44But because we knew the area, we thought we'd take the risk.
09:47Okay.
09:48So, when you walked through the door, what did you think?
09:50Kind of as expected.
09:51So, we knew that there was mould issues.
09:52We knew that there was...
09:54It needed a full sort of strip out and renovation.
09:56So, expected, I think.
09:57Tell me all about you two then.
09:58Is this what you do?
09:59No.
10:00So, this is our first project together.
10:02Right.
10:03So, we've set up a company.
10:04We're going to plan to sort of flip houses and rent them out.
10:07Oh, great.
10:08And how did that come about, the sort of relationship?
10:10I had an accident nearly three years ago.
10:13Lost half my leg.
10:14Oh, no.
10:15How?
10:16I got hit by a car.
10:17Oh, no.
10:18You're on a bike or something?
10:19Yeah.
10:20Oh, no.
10:21Oh, crikey.
10:22So, that was a rehabilitation process that's taken quite a while.
10:24Yeah.
10:25I've fully rehab done now.
10:26All completed.
10:27So, what was your previous job?
10:29I'm still in the same job.
10:30Oh, which is?
10:31Yeah, yeah.
10:32Drive forklift.
10:33Okay.
10:34They adapted one for me.
10:35Oh, brilliant.
10:36And I've been there since.
10:37What about you, Scott?
10:38What do you do?
10:39So, I'm a project manager.
10:40Okay.
10:41Work in the defence industry.
10:42Okay.
10:43That's useful then.
10:44So, looking to sort of, yeah, the skills.
10:45And what was the spark that made you think, yeah, okay, now is the time we're going to
10:47get together, we're going to do this?
10:49My payout that I got.
10:50Oh, you got some money.
10:51Yeah.
10:52And I wanted to invest in properties and I know Scott wanted to do that, so we had a
10:56chat and here we are.
10:57And did you know each other before that?
10:58Were you mates or what?
10:59Yeah, we've known each other for quite a few years, so our wives are cousins.
11:03Oh, great.
11:04Okay.
11:05So, kind of extended family.
11:06So, you've set up a company, joint venture.
11:08Yeah.
11:0950-50, share everything, spend everything.
11:10Yeah, it's a good idea.
11:12And what is the strategy then?
11:14So, the idea is to buy them, renovate them and then rent them out.
11:18Okay.
11:19So, this one we're looking to rent once, yeah, once we've done that.
11:22Okay.
11:23Tell me what you're going to do with it then.
11:24Well, strip back to basics everywhere.
11:27Obviously buy a new kitchen, we're going to hopefully open this wall up here because
11:31we're going to put a new roof on that out there as well and try and have an open plan.
11:36Okay.
11:37Kitchen, diner type thing.
11:38Okay.
11:39Out the back, tidy it up.
11:40Yeah, tidy up out the back, yeah.
11:42Do the roof, windows, doors, take it all the way back to brick basically and bring it forward.
11:47New kitchen, new bathroom.
11:48Correct, yeah.
11:49Electric.
11:50Pretty much new throughout.
11:51I mean, electrics, yeah, the lot.
11:53Okay.
11:54That sounds quite expensive then.
11:55What's the budget?
11:56So, we're looking to bring it in at 50k.
11:58Okay.
11:59That seems reasonable.
12:00Yeah.
12:01How many have you got?
12:02Eight to 12 weeks.
12:03Okay.
12:04I think we're going to try and get it done in eight weeks.
12:06Wow.
12:07Have you got a team of builders lined up already?
12:09Yeah, we do.
12:10Yeah, yeah, yeah.
12:11So, full list of contractors, everyone's ready to go.
12:13Oh, really?
12:14Because that's your project management background, isn't it?
12:15Yeah, yeah.
12:16A lot of my friend group are in the trade.
12:17Oh, are they?
12:18So, they're going to be utilising all that relationship.
12:19Oh, great.
12:20So, they'll do you with mates rates?
12:21Yeah, that's it.
12:22Hopefully, yeah.
12:23That's the right answer.
12:24Yeah.
12:25Brilliant.
12:26That's great.
12:27Are they going to be involved in this at all?
12:29Um, yeah.
12:31Maybe.
12:32That means no, doesn't it?
12:33No, no.
12:34They probably will have their input.
12:35Okay.
12:36Yeah.
12:37Are they excited about the venture, though?
12:38Yeah, for sure.
12:39It's really nice, obviously, because, you know...
12:40They want to be an interior designer, hands off, I think.
12:43Do they?
12:44That's the role that they want to take.
12:45There goes our budget, then.
12:46Yeah.
12:47So, obviously, being mates and working together are different things.
12:51How do you think that's going to...
12:52How do you think you're going to get up?
12:53I think it'll be absolutely fine.
12:54Yeah?
12:55Yeah.
12:56No arguments at all?
12:57We've not had one yet.
12:58Haven't you?
12:59That's good news.
13:00Yeah, I think we're good.
13:01Yeah, good stuff.
13:02Well, listen, congratulations.
13:03Good luck with it.
13:04Look forward to seeing how you get on.
13:05Thanks very much.
13:06Cheers.
13:08So, Richard and Scott embarking on their first joint property project together.
13:14And I think it's a great one that they're taking on.
13:17Lots to do, but how will they get on sorting it out?
13:20You can find out later in the show.
13:26Next up, we're heading to Sherburn Hill, a quiet, former mining village just a few miles east of Durham city centre.
13:34Perched on the edge of rolling countryside, it offers great views and a glimpse into the region's industrial heritage.
13:41And I'm here to see our next auction lot.
13:44I'm on a residential road in a nice area.
13:55It feels quite rural, but the village is really close by.
13:59There's a bus stop at the end of the road, so it's a good spot.
14:02And I'm here to see this two-bed mid-terrace, which came with a guide price of £37,000.
14:09I grant you the instant curb appeal is lacking somewhat.
14:14This render, the pebble dash render, needs a bit of work, but what's inside?
14:18Let's find out.
14:21Oh, oh dear.
14:25Not the first thing you want to see when you enter a property and feel.
14:30Bouncy floorboards.
14:31So there's a lot of movement.
14:33These floorboards are soft.
14:34There's lots of little holes in them, which could well be a sign of woodworm.
14:38Also, as I look beneath, you can see that the timber joists have almost rotted away.
14:44So that could be a case of dry rot.
14:46It could be a combination of problems.
14:49But whatever it is, it's been going on for a long time and needs addressed.
14:53Then, into the reception room, which is a great size.
14:57Love the proportions.
14:58You can see that somebody has lifted up some of the carpet and underlay,
15:03probably to find out the extent of that damage to the flooring.
15:08You have double glazing.
15:09Good.
15:10You can keep your energy costs down and the noise outside out a bit.
15:14However, it does look in good condition.
15:16But one of the top units looks like you want to look at it properly.
15:21It might need replaced.
15:22So yes, I love the proportions of this reception room.
15:25It feels solid.
15:26Lovely chimney breasts.
15:28Don't even mind the colour of the paintwork.
15:30It feels relatively fresh.
15:34Apart from the flooring, this is a good start.
15:40Well, this is terrific.
15:43You have a kitchen, but you also have a kind of different area.
15:46It almost feels like two rooms.
15:48You could have a dining table here.
15:50And then, when you go to your kitchen,
15:52I love the fact that there's units on all three of the walls,
15:56which means there's more than enough room for everything you need
15:59and your appliances.
16:01The cooker looks pretty new.
16:03You know I like it when the sink is by the window
16:05so you can watch the world go by.
16:07You could upcycle here what you can if you like upcycling
16:12and the thought of recycling things.
16:15You could just go for, say, new surfaces, new handles,
16:19paint the unit doors, or if you wanted a new kitchen,
16:22it would give it the wow factor for sure.
16:25The double glazing at the back of the property
16:27looks in really good condition.
16:29That's the kind of thing that's going to save on your budget.
16:32Even the boiler looks pretty new.
16:34This is terrific.
16:36Yes, it's hard to believe, but apart from the rotten floorboards,
16:44this two-bed appears to be in great condition.
16:47But appearances can be deceiving.
16:50So it's best to get the boiler and electrics checked
16:53to make sure everything we can't see is in good working order.
16:59Upstairs.
17:00Good news, your bathroom is upstairs.
17:02It's usually more desirable to have your bathroom up
17:05where the bedrooms are.
17:06It's a great size.
17:08You could think about a rejig off the layout
17:11and have a standalone shower as well as a bath.
17:13Then your bedroom is a terrific size.
17:16It really is built into the roof space,
17:18but the proportions are super.
17:20I do spot you've got a damp issue at the corner
17:23towards the ceiling, which you want to look into.
17:25It doesn't look extensive.
17:27Fingers crossed it's not.
17:29Then your second bedroom is an even better size.
17:33It's got a lovely feel to it.
17:35Even the carpets look pretty pristine.
17:37Double glazing, again, looks in good condition.
17:40But again, you've got a couple of upper units
17:43which need a dressing.
17:44They might need replaced.
17:45So, when you find a property with a bedroom as spacious as this,
17:51your developer's head may be saying,
17:53let's carve it up into two.
17:54Is there a market?
17:55We're going to get more money for a three bed property on this road.
17:59But for me, it really works as a lovely, lovely, spacious two bed.
18:05If I had to do it all again
18:09I wouldn't change a single thing
18:13Outside and what you have at the back of your property
18:18is more of a concrete courtyard than an actual garden.
18:22What you also have is an outbuilding
18:25that originally probably would have housed your outdoor toilet
18:29but you're still left with a robust brick building
18:32that would be really handy for storage.
18:35This is a bit of a selling point.
18:37There's very little to complain about with this property
18:42but therein lies the rub.
18:44How much value can you add to a place
18:46that has very few issues in the first place?
18:49We asked along a local estate agent
18:52to get his thoughts and valuations on this two bed mid-terrace
18:56that came with the guide price of £37,000.
19:00So, the floorboards want to be checked.
19:02Obviously, there's some damp issues you can see
19:05as you're coming into the property
19:06and a little bit from the front.
19:08Cosmetically, all needs decorating, carpets all need ripping out
19:12but no major structural issues by the looks of things.
19:16Some of the windows are okay but some of them will need changing.
19:19Not too much to do but we'll see.
19:23Once the necessary work is complete,
19:25how much does the agent think this property could achieve
19:28on the rental and sales markets?
19:31So, once renovated to a good standard,
19:33I think it would be popular on the rental market
19:35for families and professionals travelling into the city.
19:38I think you could reasonably expect about £525 per calendar month.
19:42On the sale market, again, to a good standard,
19:45I'd expect to achieve around £70,000 on the open market.
19:50Yes, there are a couple of issues to deal with here,
19:53not least those bouncy floorboards as you enter the property
19:57with real signs of rot.
19:59But the positives far outweigh the negatives.
20:03Let's find out who agreed when it went under the hammer.
20:06This lot was part of a remote auction with bids taking place online.
20:14£10,000 sold.
20:18And the successful bid of £40,000 was made by Raj,
20:22on the left, here with his builder Grant.
20:25Raj works in finance and this is going to be his first property project
20:30but he's hoping it will be the first of many.
20:34Raj, Grant, very pleased to meet you.
20:36Congratulations on your purchase.
20:39I want to know, first of all, I want to know a bit about you.
20:42What are your roles here? How do you know each other?
20:45Not really from the particular areas.
20:47I don't really have any builders in advance that I know of.
20:49So, I managed to get hold of Grant's details off his website.
20:53Good. So, you say you don't know builders in this area,
20:56so am I right in thinking you're not from these parts?
20:59I'm not, I'm from down south, near London, so yeah.
21:02So, I was hoping to find someone that could do the good job
21:05and Grant looks like the man that can do the job, so yeah.
21:07OK, so Grant, you are local.
21:09Yes, I am, yeah.
21:10But you don't sound local.
21:12No, I'm not. I'm originally from London,
21:14but obviously I've moved up here, so...
21:16OK, so you're both from London area.
21:18Yeah.
21:19And you've moved up here. Raj, you're still in London.
21:21London.
21:22So, why this area? Why County Durham?
21:24Because generally, when I did my research before buying this,
21:28bidding for this property,
21:29it was that there was a general sort of demand for housing
21:31in the particular area.
21:32So, the priority now would be to sort of do it up first
21:35and then sort of go from there, really.
21:37Then I'll have my options available to me
21:39in terms of what I want to do,
21:40either rent it out or maybe sell it on.
21:42But I'm still thinking about that.
21:43So, did you view the property?
21:46I didn't actually view the property
21:47because I kind of had some knowledge
21:49around how the house buying process works
21:51and the house building renovation,
21:53all that sort of stuff works.
21:54So, I went by the graphics and the videos
21:56that were available to me.
21:57So, when I looked at the graphics and the media
21:59that was available within the auction pack,
22:01I got a good sense that the property
22:03was in a decent condition.
22:04I understood that it had an Energy Performance Certificate
22:07of a C, so I knew that I wouldn't have to do much work on it,
22:09which was another reason why I was looking to bid on this property.
22:13So, yeah, I just went for it.
22:15OK, so, a calculated risk.
22:18Grant, did you come on board,
22:20I guess you did come on board after this was bought?
22:23Yeah, obviously, when he advertised the job,
22:26saying he's looking for builders,
22:28obviously, I contacted him, met up with the property,
22:31had a look round at the property
22:33and, yeah, we'd just gone from there, really.
22:34Yeah, and you'll have a lot of experience behind you.
22:37So, when you walked in here, what did you think?
22:39What were your initial impressions?
22:40To be honest, it's one of the cleanest properties
22:42I've actually seen, comparing,
22:44because we do it every day.
22:45So, this is one of the cleanest properties I've seen,
22:47apart from the damp, which we're going to do that.
22:50But, yeah, it's the cleanest one we've actually seen.
22:52Let's talk about what is wrong,
22:54because, overwhelmingly, it's pretty positive,
22:56but as you come in, you've got those rotten floorboards,
22:58really bouncy, a few holes in them.
23:00What are you thinking is the problem,
23:02and how will it be fixed?
23:03Well, the joist on the bottom of the floor,
23:04when you walk through the door,
23:05you can see it's, like, righted.
23:07So, that's why the floor's going down.
23:09So, obviously, we're going to take all the whole flooring up in there,
23:12redo all the joists,
23:13and then, obviously, before we put the flooring down,
23:14we're going to do all the damp course at the bottom here,
23:17fold it, and then plaster it,
23:19and then, obviously, fix all the floor,
23:20and then, yeah, that's it, really, down here.
23:22And just lick a paint.
23:23Yeah.
23:24Loads more positives with this property than negatives,
23:26but we've covered a couple of negatives,
23:28like the flooring and the damp.
23:29Also, although the double glazing's in really good condition,
23:32there are a couple of smaller top units
23:34that look like they might need replaced.
23:35Yeah, they're going to get replaced, yeah,
23:36and, obviously, we're going to put safety catches,
23:38like, for, you know, the children catches,
23:39so they can't open the window all the way.
23:41The outside, we're going to render all the outside as well,
23:44basically do all the painting, do all the plastering work,
23:47and he's doing seal round the bath, seal round the toilet,
23:49because the bathroom, there's nothing wrong with the bathroom,
23:50there's nothing wrong with the kitchen.
23:52In the kitchen, it's all going to get damp-proofed
23:54behind the cupboards,
23:55so there's no damp going to come through there.
23:57Basically, yeah, so the kitchen, the bathroom's fine,
23:59it just needs, obviously, it needs re-silicon in the bathroom,
24:02because, obviously, around the bath,
24:03the water's going through and it's coming down,
24:05so that, we all changed.
24:07And then, yeah, other than that,
24:08the bathroom and the kitchen will stay the same.
24:09I'm with you.
24:10It's good to keep what you can
24:11and give new life to the kitchen, bathroom,
24:13if it doesn't need to be put out.
24:15OK, what is your budget here?
24:18So, given that it only requires some cosmetic refurbishing,
24:21I'm not looking to spend too much on it,
24:23we'll probably spend less than probably eight grand
24:25in doing it up.
24:26OK.
24:27Less than that.
24:28And then, how long is it going to take?
24:30Well, our turnover on here is going to be four to six weeks.
24:33Four to six weeks.
24:34OK, that's quite ambitious, just get in and do it.
24:36Yeah, well, I've got 15 lads,
24:38so I'm just going to pop people in.
24:40Brilliant.
24:41I think you've got yourself a great property
24:43and with Grant on board so much experience,
24:46I can't wait to see the results here
24:48and it's going to be done, fingers crossed, super quickly.
24:50Good luck.
24:51Yeah.
24:52Thank you so much.
24:53Cheers.
24:54Cheers.
24:55This two-bed mid-terrace marks a really exciting new chapter for Raj.
25:00It's his first renovation project, but he wants it to be the first of many.
25:05However, that budget of up to £8,000 and the timescale of up to six weeks,
25:10it's pretty tight.
25:11What difference can they make?
25:13You can find out later in the show.
25:16Still to come, Dion takes on the wilds of Cheshire.
25:21Let me see how far I can get down here without getting eaten up by the prickly stuff.
25:29And Raj is hit with an unexpected delay back in Sherbourne Hill.
25:34The bad weather kicked in so we didn't work for a couple of months.
25:37Back now to Andover, where Martin saw a three-bed mid-terrace
25:44that came with a guide price of £80,000
25:47and one glaring issue throughout.
25:50Mould!
25:51Yes, this house needed some serious attention, but that didn't put off friends and cousins-in-law,
26:10Scott and Richard, who paid £179,000 for their first auction property.
26:16Despite being new to the development game, they had a grand plan.
26:20And what is the strategy then?
26:23So, the idea is to buy them, renovate them and then rent them out.
26:27Tell me what you're going to do with it then.
26:28Well, strip back to basics everywhere.
26:31Obviously, buy a new kitchen.
26:32We're going to hopefully open this wall up here, try and have an open plan.
26:37OK.
26:38Kitchen, diner type thing.
26:40The pair had friends in the trades ready to start the work
26:43and with a healthy budget of £50,000,
26:46hope to have the house ready for the rental market within eight to twelve weeks.
26:51Now, four months later, we're back to see how they got on.
26:55We put a new roof on, we've rendered the outside walls, new windows, new doors.
27:08We changed the size of the kitchen, so we knocked the walls down and put a steel beam in,
27:20which gives us a really nice kitchen.
27:23It looks fantastic.
27:25They've also installed a new combi boiler to help with the house's energy efficiency.
27:30The downstairs toilet was given a makeover too, with stylish wooden panelling and brand new fixtures.
27:37We put a slate roof on the conservatory and we double brick the walls up, so it's a single skin brick wall at the back.
27:47That's now a double skin brick wall to sort out the damp issues.
27:50The garden was cleared out and with new paving and fencing, it makes for an inviting sun trap.
27:57Upstairs, the layout has stayed the same, but all three bedrooms have been stripped back to brick, replastered, painted and carpeted.
28:09This sleek and sophisticated look extends to the new bathroom suite,
28:15which is complete with herringbone flooring and black hardware, a welcome replacement to the black mould.
28:22But how did Scott and Richard manage to tackle this extensive problem?
28:28There was a number of issues. We had a leak in the roof. There was window and door issues.
28:34The patio butted straight up to the brick, which was causing the water to infiltrate in.
28:39So we fixed all those things and, yeah, the damp seems to have gone away.
28:45With no more damp to cramp its style, the property has turned from drab to fab.
28:51Credit is due to the pair's wives, Vicky and Beth, who made many of the interior design decisions,
28:58picking the kitchen, flooring and colour scheme throughout.
29:02So did Scott and Richard get hands on with the work too?
29:06Well, Scott still worked his normal job, but he came down whenever he could, which was quite a bit.
29:13I was here quite a bit at the time and we had Scott's friend, which is the builder, Lukey.
29:18He did most of the work and then quite a few contractors come in as well.
29:24It took Scott and Richard four months, opposed to the planned three, to complete the work.
29:30But did the extra time cause them to go over their £50,000 budget?
29:35So we tallied it out this morning, we're in at £63,000.
29:38So a little bit over budget, mainly due to the costs that we outlaid to sort the damp out, the new roof came in.
29:45But we're happy with the finish, so we're good.
29:48Yeah, I don't mind being over budget cause we made it how it is now.
29:53They might have gone over slightly, but this hasn't deterred the pair from their plans going forward.
30:00They've already purchased another auction property for their next renovation.
30:05But are they still planning to rent this one out?
30:08We actually have a tenant, our builder, who's going to move in on Saturday.
30:14Yeah, for us it's a perfect tenant to be honest, he's a really close friend of mine.
30:18Like we said, he's done a lot of the work here himself, so we know he's going to look after the place.
30:22So I think as first tenants go we couldn't have got a better one really.
30:26Exactly.
30:28Well, this could be the easiest tenancy find in Hammer history.
30:32But with a total investment of £242,000, including the purchase price,
30:37will the pair's fortune extend to a return on their investment for their first property project?
30:43We asked back the estate agent who viewed the house on our initial visit
30:47to get his thought and valuations.
30:49Four months since I've seen it.
30:51For the amount of stuff they've actually done in that time,
30:53I think they've done an amazing job.
30:54It's now open plan downstairs.
30:56My favourite part of the house is the kitchen.
30:58So before it was dark, dingy, there was a hole in the ceiling,
31:02but now it's obviously open plan, fresh.
31:04Yeah, it's brilliant.
31:06The agent thinks this place could sell for up to £300,000,
31:10which would mean a healthy pre-tax profit of £58,000.
31:15But as Scott and Richard already have a tenant,
31:19I'm sure they'll be itching to know if they're getting the going rate.
31:23Rental, I'd expect them to get £1,450 per calendar month.
31:27Pretty happy with that.
31:28It's about what we thought we would rent for.
31:30Like we said, we've got a tenant lined up already.
31:32So, yeah, pleased for those valuations.
31:36The agent's figure works out as a pre-tax annual income of £17,400.
31:42But as Scott and Richard are renting to a friend,
31:45they're happy to be bringing in £1,350 per calendar month,
31:50which still equates to a strong yield of around 7%.
31:54It's clear the friends and cousins-in-law have done a smashing job
31:58of their first property project.
32:00So, now they've been through the process once,
32:03would they recommend mixing family and business?
32:06Definitely. Yeah.
32:08Yeah, I think it's been really good fun working with friends,
32:12especially being in business with friends.
32:14It makes the whole process more enjoyable,
32:16can bounce ideas off each other, reduces stress for sure.
32:20So, yeah, 100%, I think.
32:22Definitely have a good laugh as well.
32:23Yeah, for sure.
32:24So, yeah, it's good.
32:30Dion's off to Warrington,
32:31a town that sits with Manchester to its east
32:34and Liverpool to its west,
32:36making it a popular commuter town for both.
32:38So, in this middle ground has Dion unearthed an auction gem.
32:50The property I'm here to see is a semi-detached house,
32:53three beds went to auction with a guide price of £96,000.
32:58Now, before I even look at the house, I'm enjoying all this.
33:02We've got a drop curb, we've got off-street parking.
33:04Cars there, shepherding in the back, round the back, in the kitchen.
33:09Lovely.
33:10Right, the house itself doesn't look too bad either,
33:12but I have spotted just there a bit of a crack,
33:15just above the door frame there.
33:17I'll have a look inside to see if there's any more signs of a problem,
33:20but this I am very happy with.
33:23But will the smile remain on Dion's face once through the front door?
33:27All right, then.
33:29You have a quick look.
33:32That's where the crack is outside and there's nothing there at all.
33:36Anyway, we've got this little sort of portrait here.
33:39Various stairs leading to the bedrooms
33:41and then you're into this really nice, bright lounge
33:45with a big bay window, double-glazed windows,
33:49which look in good nick.
33:51Massive radiator under there as well.
33:53So we've got central heating.
33:55Big sort of fireplace there as well.
33:57Decoration, carpet, hard floor, paint.
34:02Tick, tick, tick.
34:06Right, then.
34:07Kitchen.
34:08And it's a nice space.
34:10Nice, spacious kitchen here.
34:12I'm thinking you might have to strip it all out and start again,
34:15but you've got a lot of space to play with.
34:18Can't see any cracks.
34:20Oh, dear.
34:21Well, we have got a bit of a water problem here.
34:23I can see there's been some water filtering through from upstairs.
34:27I'm guessing the bathroom is above there,
34:30but I'll check that out when I get there.
34:32That's an issue that needs to be sorted.
34:35But this space is good.
34:36You've got a bit of a void space here as well.
34:38Maybe you could think about a downstairs toilet.
34:41Don't mind it.
34:44There may be a few checks to do here,
34:46such as sorting the damp, the exterior cracks and the boiler.
34:49We'll need an expert to check that it's safe to use.
34:52Otherwise, this house seems to have a lot going for it.
34:56Right, then, up the stairs, we've got family bathroom.
35:05And as I look into that bathroom, I can see there's the shower.
35:09That shower is above that water damage in the kitchen,
35:13so that's what's causing it.
35:14We've got an issue right there.
35:16Sort out the issue before you do anything in that bathroom.
35:20New bathroom in there, three bedrooms.
35:23Let's have a look in here.
35:24OK, then.
35:25The back bedroom, double bedroom just needs a bit of work.
35:30But when it's finished, I think we're in.
35:32I think we are in.
35:36OK, so this is the bedroom at the front of the property,
35:39the biggest of the three bedrooms as well.
35:41I think this is a good-sized room,
35:43and I don't believe it will take much to turn it around.
35:46I really don't.
35:47Here comes the mirror man.
35:51How's my hair look?
35:52Here comes the mirror man.
35:53Here comes the mirror man.
35:54Here comes the mirror man.
35:55Here comes the mirror man.
35:56Here comes the mirror man.
35:57Oh, Dion does like a mirror.
35:58And yes, Dion, your head looks great.
35:59There isn't a hair out of place.
36:00But on reflection, this three bed is looking pretty good too.
36:09Well, on the inside at least.
36:12Perhaps we'll see it differently when Dion ventures outside.
36:16Here comes the mirror man.
36:19Right then.
36:20Oh, the step was bigger than what I was expecting, let me tell you.
36:24OK, so we have got back garden.
36:26And you know what?
36:27The back garden isn't a bad size at all.
36:30Let me see how far I can get down here
36:33without getting eaten up by the prickly stuff.
36:37OK, so we've got a little raised area here.
36:40Bit of a coal, sort of coal shed, coal bunker there.
36:44There's a shed at the bottom there as well.
36:46So it's an OK-sized back garden,
36:49but I can't see any of it because we've got bushings,
36:53we've got a big conifer tree there.
36:56So what I suggest is we either get rid of some of these trees
37:00or we trim them down,
37:02find out if any of them have TPOs on them,
37:04which is a tree preservation order,
37:07and use the back garden.
37:09It's here for you.
37:16It will take a fair amount of work
37:18to uncover this overgrown garden
37:20before it can become a sanctuary
37:22to relax in.
37:23But garden work isn't necessarily too costly.
37:27It just needs a bit of elbow grease.
37:29A bit of grunting and groaning would transform this space.
37:34Let's see what an expert from the auction house that sold it
37:37makes of this three-bed semi that was guided at £96,000.
37:41The property itself obviously needs full modernisation throughout.
37:47Hopefully it's a fairly straightforward renovation project
37:50for whoever's going to take this on.
37:52There's some scope as well for some potential reconfiguration.
37:56Although you may also just keep it as the existing footprint,
38:00it should hopefully lead to a fairly straightforward refo project.
38:03Yes, there doesn't seem to be too many issues here,
38:07but could it be a sound investment?
38:10I think once renovated, if the property's done to a good standard,
38:13I think a realistic resale value would be somewhere in the region
38:16of £190,000 to £200,000.
38:20If you were to place this on the rental market,
38:22again Warrington is a good rental market at the minute,
38:25I think you'll be realistically looking to achieve,
38:27once renovated, somewhere in the region of £950 per calendar month
38:31to £1,000 per calendar month.
38:33So I think we've got a house with a couple of issues.
38:37You've got to get that crack on the corner of the house checked
38:40and you've got that water damage just in the kitchen there,
38:44below the bathroom.
38:46Get that checked out as well, make sure that leak is sorted.
38:49And then I feel this should be a pretty straightforward transformation.
38:54However, the back garden needs a bit of work.
38:58Some trees to be sorted there.
39:00The front garden needs a bit of work.
39:02Also some trees to be sorted there.
39:05After that, I think it's a pretty good project to get hold of.
39:08Let's see what happened when we went to auction.
39:13This lot was part of a remote auction with bids taking place online.
39:17All done. Yours.
39:23For £130,000, including auction fees,
39:26the successful bid was made by Mark.
39:29Mark is a quantity surveyor,
39:31but has done a number of property renovations over the years.
39:35He met Dion back at the house to tell him more.
39:40Mark, nice to meet you.
39:41Hi, Dion, nice to meet you.
39:42All good?
39:43Yeah, all very good, yeah.
39:44Are we happy?
39:45Very happy now, yeah, glad.
39:46We're looking for a project like this?
39:49Yeah, I've done many projects similar.
39:51This isn't too bad, really, compared to some of the ones I've done.
39:55Still a bit of work, but yeah, not too bad.
39:57I don't think it's too bad at all.
39:58Yeah.
39:59OK, let's get to the elephants in the room, first and foremost.
40:03Yeah.
40:04There's a crack out on the corner of the house.
40:06Yeah.
40:07Have you had any investigating done?
40:09Yes, we think there's a bit of wall-tie failure on that gable there,
40:12and maybe coming around the front near the canopy.
40:14We'll probably take that canopy off, put a new modern one on,
40:17and sort of remedial wall-tie fixtures in the walls,
40:21and then point it up, yeah.
40:23So nothing to worry about?
40:24No, no.
40:25Wouldn't have thought so.
40:26Not what I've been told anyhow.
40:27Brilliant.
40:28Fingers crossed on that one.
40:30Yeah.
40:31A hole in the kitchen ceiling, which is below the bathroom,
40:36really had that checked yet?
40:37Yeah, it looks like there's been a bit of a flood in the past
40:39or whatever, but that'll obviously get sorted during the works.
40:42New bathroom, new kitchen, et cetera, and plasters.
40:45OK, so before I get inside, front garden, driveway space,
40:50lovely big space out there.
40:52Yeah, nice big space there.
40:53What is the plan for that?
40:54A little front garden out the front there,
40:56and then a drive up the side.
40:58Gotcha.
40:59Just renovate nicely, couple of plants.
41:01Back garden then.
41:02I mean, you've got some big trees in there, hasn't there?
41:05Yeah, there is.
41:06We'll assess it.
41:07We'll chop everything back and assess it,
41:09but we'll probably take them out.
41:10Nice path down the garden.
41:12Bit of a patio area, nice bit of grassed area, new fencing.
41:15Nice garden.
41:16OK, we're in the house.
41:18We're just coming in the house.
41:19Let's start through the front door then.
41:21What's the first thing you're going to do then
41:23as you come on the downstairs?
41:25We'll obviously change all these internal doors
41:27to something a bit more modern.
41:29New flooring throughout, flooring up and down.
41:32Just need to freshen up, really.
41:33We'll probably skim the plaster.
41:34We'll assess the plaster, see how it is.
41:37There is a bit of rewiring.
41:39We've got central heating.
41:40Have you had a check of the heating system?
41:42Yeah, we've had a look through them.
41:43The heating system's not that old.
41:45The boilers...
41:46We'll put a new boiler in, we'll check all the pipes out,
41:49we'll see where we are with that, but it seems OK.
41:51Probably new rads as well, if any of them are untidy.
41:54OK, brilliant.
41:55Are we changing any configuration?
41:58Is the wall staying?
41:59No, I'll probably leave that at the moment.
42:01We might have a play in the kitchen.
42:03We're not sure yet whether to put a little utility room
42:05on the back or not.
42:06Oh, nice.
42:07We're still deciding on that, still deciding.
42:08Downstairs new, maybe?
42:09Yeah, something like that, yeah, maybe.
42:11We were even thinking maybe a side garage,
42:13but we're not sure yet.
42:14Ooh!
42:15We'll see, we'll see, we'll see, we'll see.
42:16Don't get excited.
42:17I'll get mad.
42:18I wouldn't come back to the budget in a minute.
42:19Yeah.
42:20Upstairs then.
42:21I think you've got three good-sized bedrooms.
42:23Yeah.
42:24Even though one room's a box,
42:25it's still a decent-sized box bedroom.
42:26It is, it is.
42:27Good three bedrooms.
42:28Plans for upstairs?
42:29Pretty much keep it...
42:30Say, modernise it, really.
42:31Modernise it, a lot nicer, crisper cleaner,
42:33nice new bathroom suite and shower.
42:36No.
42:37Who does the renovation?
42:38Do you get involved?
42:39Not really, no.
42:40Don't get my hands dirty that much.
42:41Don't!
42:42I have...
42:43Hands in your pocket.
42:44Hands in your pocket.
42:45I have done in the past.
42:46Yeah, yeah, that's it, that's it.
42:47No, I have done in the past.
42:48I've been quite hands-on in the past.
42:50I haven't had as much time recently,
42:51but you never know, I might muck him.
42:54But, yeah, I've got a good builder,
42:56and he's got some good lads that he uses,
42:58and I tend to go to him if he gets the price.
43:00I have a bit of banter and a bit of an argument
43:02with the price, but, yeah, I tend to go back to him.
43:05Budget to turn this place around?
43:07I'm thinking about £30,000.
43:09£30,000?
43:10Yeah.
43:11Absolutely.
43:12How long do you think it will take to get it to market?
43:14Three months, hopefully.
43:15Hopefully.
43:16By the way, are you selling this, or are you...?
43:17I'm going to sell this one, yeah.
43:18Oh, you are selling it.
43:19I mean, I've got the option, a follow...
43:21I always have a couple of strategies,
43:23but my follow-up option would be to rent it out if need be.
43:26OK.
43:27But, yeah, no, I want to flip this one.
43:28Mark, I think you'll be OK with this one, pal.
43:30You seem to have ticked any box that needs to be ticked.
43:33You've got somebody that's got to be doing it for you already.
43:36Good luck.
43:37Thank you very much.
43:38Great.
43:40So, Mark is on it.
43:42The first thing he's going to do is address the two issues,
43:45the crack at the front of the house
43:47and the leak in the kitchen coming from the bathroom.
43:51He's got a team of builders.
43:52He's used them before.
43:53He's going to use them again on this project.
43:56£30,000 in the budget, £130 already spent,
44:01three months to turn it all around.
44:03He knows what he's doing.
44:04I've got no worries at all.
44:06You can find out how Mark gets on later in the show.
44:10Back now to Sherbin Hill in County Durham,
44:17where this mid-terrace was guided at £37,000,
44:20but first impressions were far from solid.
44:23Oh, dear.
44:24Not the first thing you want to see when you enter a property.
44:30The timber joists have almost rotted away.
44:33But beneath the issues, this two bed had potential.
44:44It was a good space in need of a little care.
44:47Stepping up to the challenge and buying it for £40,000 at auction
44:52was finance man Raj, who called on builder Grant to take the lead
44:56while he kept a watchful eye from afar.
44:59I'm from down south near London, so, yeah.
45:03So I was hoping to find someone that could do a good job
45:05and Grant looks like the man that can do the job, so, yeah.
45:08Give it to me.
45:10Badge had given Grant an £8,000 budget
45:13for his first property project,
45:15and they hope to modernise the place in six weeks.
45:18But six months have now passed,
45:21and we're back to see if they have given this place
45:24the refresh it needed.
45:26Don't give yourself.
45:28That's what I need.
45:30You've got to give it.
45:32Oh, give it to me.
45:34So, starting in the living room,
45:36there was a lot of dry rot issue which we treated,
45:38and the wooden flooring that was sitting above it,
45:40they were rotting as well,
45:41so we replaced the entire wooden flooring.
45:43The dry rot was down to damp, caused by blocked ventilation.
45:50So we kind of treated it by a process called tanking,
45:53so we took the wall back to the brickwork
45:55and then we replaced the membrane,
45:57re-plastered it and then repainted that section.
46:00There was also damp behind the kitchen units,
46:03but that's been sorted too.
46:06With the major issues tackled,
46:08all that was left was to give the place a fresh new look.
46:12And we didn't really change any kitchen units in the kitchen,
46:15neither did we touch the flooring
46:16because they were in a decent condition as one bought.
46:20It's always a bonus when something can be saved from landfill.
46:24A good clean and a coat of paint
46:26has given the house a new lease of life.
46:31Upstairs, some of the walls needed re-plastering
46:34and the blown windows have been replaced.
46:39The standard of finish we went for was neutral,
46:41because it's easy to maintain
46:43and people can decorate it as they wish.
46:47In the bathroom we changed the panels,
46:49boxed up some of the exposing pipeworks
46:51that were there by the shower
46:52and changed the floor liner
46:54and gave it fresh paint on it as well.
46:59The damp issue upstairs was resolved
47:01by replacing a few tiles on the roof
47:03and repairing parts of the gutter.
47:09So externally the initial plan was to sort of strip down the sand and cement
47:13and take it back to the brickwork and leave it as it is.
47:15But then that turned out to look a bit unsightly,
47:17so then we decided to render it.
47:19And the back garden we did a bit of clearing and tidying up,
47:21so we didn't do much on it,
47:23but just sort of general clean tidy.
47:27Raj is pleased with the end result
47:29and with the work carried out by Grant and his team of contractors,
47:33it only took four weeks once started,
47:35but the project itself has dragged on a lot longer than planned.
47:39So initially we planned to complete the works within six weeks,
47:41but we managed to get it done eventually after five months.
47:43The delay was partly because of the fact
47:45that we started the works a bit late
47:47due to some unforeseen circumstances
47:49and then when we did decide to do some extra work
47:51with the rendering at the front and the back,
47:53the bad weather kicked in,
47:54so we didn't work for a couple of months.
47:55But yeah, we eventually got there after five months.
47:57And for Raj, it wasn't just the timescale
47:59that he had supposed to do.
48:01And for Raj, it wasn't just the timescale
48:03that he had supposed to do.
48:05And for Raj, it wasn't just the timescale
48:07that he had to grapple with.
48:09Living over 250 miles away in London
48:11brought its own difficulties.
48:13I think communication was one of the challenges
48:15that I've had, I would say.
48:17Living afar, communicating with suppliers
48:19and as well as working within my busy schedule
48:21and working with shifting priorities
48:23made that a bit of a challenge.
48:25But eventually we got there,
48:27which I'm pleased about.
48:29So as a finance man,
48:39was Raj able to stick to his budget
48:41on his first property project?
48:43Initially I was planning to spend
48:45no more than £8,000.
48:47So despite the delays
48:49and some of the extra works that we carried out,
48:51I'm quite pleased that we managed to keep it
48:53just under £8,000.
48:55Raj was originally unsure
48:59if he was going to rent or sell the property.
49:01So let's get the thoughts of a local estate agent.
49:05We invited one along to see
49:07what they make of this two-bed mid-terrace
49:09and see what the potential returns could be.
49:13There has been quite a lot that's changed.
49:15The vendor has modernised the outside
49:17with fixing the rendering.
49:19Inside there's new flooring
49:21and paint work done throughout.
49:23There was also a damp problem which was fixed.
49:25So since we were last here,
49:27they really have made an effort
49:29to spruce up the property.
49:31Raj has invested a total
49:33of just under £48,000,
49:35including the original purchase price.
49:37So with that in mind,
49:39what could it now be worth?
49:41Realistic sales valuation
49:43for this property would be £65,000.
49:47I was expecting a little bit more to be honest,
49:49given that properties in the area
49:51with similar specs went for a little higher,
49:53around £80,000.
49:55So I'm going to nonetheless hold on to the property.
49:57I'm going to look to rent it out
49:59and hopefully the capital will appreciate
50:01in the longer run.
50:03A pre-tax profit of around £17,000
50:06isn't going to tempt Raj to sell.
50:09So with renting it out now in his sights,
50:11what sort of income could this generate?
50:15On the rental market,
50:17this property would be expected to achieve
50:19£625 per calendar month.
50:21I think that's a fair reflection
50:23of the rental prices in the given area.
50:26I think it will make a good return on investment.
50:29That gives Raj an annual pre-tax income
50:33of £7,500, a strong return
50:37with a whopping yield of over 15%.
50:41So with his first property project complete
50:43and plans to return to the auction for more,
50:46what has he taken away from the experience?
50:49I would say definitely budgeting
50:52and being a bit careful around that.
50:54Time, I guess, is money.
50:55The fact that there was a bit of a delay
50:57with the works completed meant that I had to pay
50:59some local taxes as well to the authorities as well.
51:01So, yeah.
51:03So those are the two things I would probably say
51:04I took out of that.
51:05Back now to Warrington and a three-bed semi
51:12guided at £96,000.
51:15But Dion was having trouble viewing.
51:18So it's an OK-sized back garden.
51:21But I can't see any of it.
51:27Less invisible was the crack on the outside,
51:30the hole in the kitchen ceiling
51:31and that the house needed a considerable upgrade.
51:34For quantity surveyor Mark,
51:36when it came to work on his £130,000 purchase,
51:40he was also hoping to disappear into the background.
51:43Do you get involved?
51:45Not really, no.
51:46I don't get my hands dirty that much.
51:47You don't?
51:48I have that to be fair.
51:49Hands in your pocket.
51:50No, no, no.
51:51I have that in the past.
51:52Yeah, yeah, that's it, that's it.
51:53No, I have got a good builder
51:55and he's got some good lads that he uses
51:57and I tend to go to him if he gets the price.
51:59I have a bit of banter and a bit of an argument
52:01with me over the price.
52:02But yeah, I tend to go back to him.
52:03With builder friend Mike lined up to do the work,
52:07a £30,000 budget and a three-month timescale,
52:10we left him to it.
52:12Now, six months on, we're back.
52:14Well, it's looking rather splendid on the outside,
52:21and Mark, joined by Mike, are here to tell us about the work they've done.
52:25Basically, um, cleared out the fronts, been tarammed and stoned up for a nice driveway.
52:32Now there's space for two cars to come on.
52:34I'm liking that, but what about inside?
52:41Total refurb to start the normal stuff.
52:43Full new kitchen.
52:45Dion noted, uh, you know, downstairs toilet's really a good seller.
52:56So we've put in a downstairs toilet.
52:58All through the job, the guys referred to it as Dion's toilet.
53:03Dion's toilet!
53:04Dion's toilet!
53:05I'm not sure what to say to that, other than that's a good idea.
53:10And with the front reception room now light and bright,
53:15the downstairs is looking great.
53:17But what about upstairs?
53:19So most of the plastic in the house is new now.
53:28Um, brand new central heating system.
53:30The three bedrooms are looking as good as new.
53:34And the bathroom?
53:36Well, that's so much better.
53:40I like the fact there's now a bath and an overhead shower in it.
53:44But if there were some challenges inside,
53:47perhaps the biggest challenge of all came outside at the back with the garden.
53:51There was a massive shed at the bottom, bottom of the garden,
53:55which was completely rotten and big overgrown trees, bushes, roots.
54:01And look what they've created now.
54:04Yeah, just a nice plain blank canvas for whoever buys a house, really.
54:09I think the whole place has, after many years, got what it needed the most.
54:15A little bit of love, a little bit of love, a little bit of love.
54:22It's all come together and that includes the brickwork.
54:26On the pointing outside, it was a wall tie issue, which we knew when we were buying it, we knew we had to address it.
54:33So yeah, it's had new replacement wall ties on the three sides of the house.
54:37Repointed the front as well.
54:39And all repointed, yeah.
54:40They also removed the concrete canopy that was pulling the brickwork away.
54:47The other issue inside, the hole in the kitchen ceiling, was a more straightforward fix, involving stopping a leak in the bathroom, replacing a joist and then re-plastering.
54:58It's now structurally sound and fully refurbed.
55:02But how much of an appearance did Mark put in when it came to doing the work?
55:06He just turns up, pointing the finger, like, what about this, what about that?
55:15And it's like, we know Mark, this is what we do.
55:19I just spend the money, basically, that's what I do, yeah.
55:22So I usually have an idea and then Mike sort of critiques it, if that makes sense, or ignores it, one or the other.
55:29Mark might have left this one predominantly for Mike to sort out, but they both had a couple of other projects on the go.
55:43So in fact, they dropped in and out of this one, doing the bulk of the work in a two-month period.
55:49So timescale-wise, they were pretty much on target.
55:52But did Mark hit his £30,000 budget?
55:56So, in the end, topping it up, I was having a quick look last night on my spreadsheets and et cetera.
56:01We've come out between £40,000 and £45,000, and that's including all the external work, which cost more, outside cost more than what I wanted originally to budget.
56:09Inside, pretty much, we're there, because we'd done a few, we knew what, where we're going to be at.
56:15£45,000 means there has been a substantial overspend.
56:21But Mark has gone the extra mile to make this house stand out and hopefully easier to sell.
56:27So with £130,000 spent on the purchase of the house and fees, Mark has a total of £175,000 invested into this three-bed semi.
56:37So, money well spent.
56:39What does the property expert who saw it last time think?
56:42I'm really impressed. I think they've done an absolutely great job with the renovation.
56:48And they haven't compromised on quality whatsoever.
56:51I think the standard of finish is actually really good.
56:55And I think that's going to then allow the seller to maximise on the value when they come to sell it.
57:00Well, that was the plan. But what does maximising mean in terms of figures for a house Mark has invested £175,000 into?
57:12I think given the standard and the quality finish, I think if you were to put the property on the open market,
57:16you'd be looking to achieve somewhere in the region of £225,000 to £230,000.
57:21I'm happy with those figures, yeah. You always try and push more if you can, but I know I'm quite happy with them, yeah.
57:28He should be happy because that top figure would have netted him a pre-tax profit of £55,000.
57:36But since filming, Mark has actually accepted a higher offer of £240,000,
57:42raising his profit to £65,000 before fees and tax.
57:47So with this one done and dusted, how does Mark feel about this extensive property project?
57:54It's been very rewarding, this one, because of how the house was in the start.
57:59It's, you know, it's pretty run down.
58:02Outside was an absolute mess. You couldn't see the house.
58:05But driving up and seeing it, it's like, wow, we've achieved something with this one.
58:08Yeah, definitely, yeah. It's good.
58:10That's it for today. I hope you enjoyed the show.
58:17Don't worry, we're back with loads more property transformations
58:21so you can watch their journeys right here on Homes Under The Hammer.
58:25See you next time. Bye-bye.
58:27Bye-bye.
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