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00:00Let's get on with the auction today.
00:03235, 240.
00:04Every year, tens of thousands of properties
00:07are sold at auction.
00:09Veritas Bidder, well done.
00:10From modest two-up, two-downs to waterfront mansions.
00:14We just spent over half a million pounds.
00:17We weren't really thinking that we were going to do that.
00:20More and more first-time buyers are seeing it
00:22as their golden ticket onto the property ladder.
00:25It's such a million!
00:26Yes!
00:28But these quick buys are often far from perfect,
00:32hiding some nasty surprises.
00:35You haven't been in? No, not yet.
00:36Hey, let's go in.
00:38I'm Sarah Beeney, and I've been buying, building,
00:40and transforming homes for 35 years.
00:43And I'm fascinated by the world of auctions.
00:46In this series, I'll be offering a dose of realism.
00:49You've got all these lovely, flamey ideas,
00:51and I'm pouring water on like that.
00:53As brave new owners take their homes
00:55from sterling to diamond.
00:57I will be moving in at the end of this month.
01:01What I'll be moving in to, of course, remains to be seen.
01:05And we'll go behind the scenes
01:07of some of the country's biggest auction houses.
01:10Something is there that has attracted so many people.
01:13Discovering whether property auctions are a risk too far...
01:17Are you coming up?
01:18No.
01:19...or a great way to get the home of your dreams.
01:22I am really proud of myself.
01:23This is my first home.
01:30This week, from an overgrown bungalow...
01:33There was literally ivy under the wallpapers on the inside.
01:36...to a defunct Victorian library,
01:39two brave souls have all their savings at stake.
01:43I do wonder sometimes.
01:45I'm putting all my eggs in one basket here.
01:47Do you know what?
01:48I love a dreamer.
01:49And if you don't dream, nothing happens.
01:51And at East Anglia Auction House,
01:53known for their remarkably diverse range of lots,
01:56what people pay on the day can be a big surprise.
01:59So...
02:00Gets a round of applause from the team and the management as well.
02:07First, I'm headed to Rhettford, a market town in Nottinghamshire.
02:12Here, semi-detached houses go for around £180,000
02:15and are fully detached to around £250,000.
02:19In the town centre is a hundred-year-old bungalow
02:22that's been abandoned for 15 years.
02:24The brave new owner is 33-year-old Laura.
02:28Owning a detached home with a huge garden
02:30was only a pipe dream for her first property
02:33until she discovered an auction listing.
02:37I was just doing what everyone does,
02:38just scrolling through the internet on the apps,
02:40looking for every property inside.
02:42And then I stumbled across this.
02:46When I first come to see it,
02:47there was literally ivy under the wallpapers on the inside.
02:52The kitchen covers were full of very out-of-date food,
02:56which was really fun cleaning that out.
02:59So, when I visited the property, which was only once,
03:03everybody else would have been like,
03:05oh, no, too much work.
03:06But I could just see the size of the rooms,
03:08I could see the size of the garden,
03:10despite not really actually being able to see it.
03:13And I just thought, you know, it's doable.
03:16Anything's doable.
03:17And the guide price was 80,000.
03:19And I thought, what a steal!
03:21Then the bidding war started.
03:22I had a maxi bid in my head,
03:24which did go out the window a little bit.
03:27We went all the way to 138,000,
03:30which is what I won the property at.
03:32I was super excited.
03:33I actually cried.
03:34So, it was really emotional.
03:36Oh, sorry, I'm a bit emotional now.
03:41Laura recently moved back home to be near friends and family
03:45after 12 years abroad,
03:46working as a carer for the disabled and saving up her wages.
03:51It was so exciting to be back in the U.K.
03:55and to be able to buy a property and get on the property market.
03:58So, yeah, as a first-time buyer, it's really challenging.
04:03I've never done much more than painting a wall.
04:05But so far, I've done the whole demo stage.
04:07You know, I've took a sledgehammer
04:09that I got for £2 from the car boot.
04:11This has cost me hardly anything so far,
04:13and I've got it back to brick,
04:15as a girl that has never done anything like this.
04:18And it's been seven weeks, and it looks like a house now.
04:24I'd love some advice on structural things
04:26that I've stumbled across once I've pulled back plaster,
04:29that I'm like, ooh.
04:31DIY novice Laura bought the bungalow for just under £140,000.
04:36She has £75,000 to spend, but that money's got to go a long way.
04:42So, this is what you bought?
04:44Yeah, this is it.
04:45I mean, well, it's a project, isn't it?
04:47It's a bit of a big project.
04:49I can hopefully renovate it and be mortgage-free in my mid-thirties.
04:53Gosh.
04:53So, you bought it for £140,000 cash?
04:56Yes.
04:56OK, so tell me where you got the money from.
04:59I can save at least 50% of my earnings every week.
05:02You always put half of what you bought home?
05:04Always put 50% away into savings every month,
05:07since I was really young.
05:08Like, I had to pay for round at 14, worked at the local chip shop at 16.
05:12You're clearly really good at saving money.
05:14Yeah, yeah.
05:14It was definitely a skill of mine.
05:16Which is...
05:16I've invested every penny I've got into this property now.
05:19So, until I either sell it as is or do something else with it,
05:22I can't move on or to another property.
05:25Did you always plan on buying an auction?
05:27No, absolutely not.
05:28And I came for a quick, quick look around,
05:31and it went to auction two days later,
05:33and I literally bidded like it was something I'd wanted for years.
05:37Oh, my goodness.
05:38So, hang on.
05:38So, you saw it...
05:40Yeah.
05:42..completely overgrown...
05:43Yeah.
05:43..and then two days later you bought an auction?
05:45Yeah, because I'd only viewed the property two days prior.
05:47I didn't have time to get engineers or structural reports in.
05:50So, you didn't have a survey.
05:51Did you have solicitors look at the papers?
05:53No.
05:53You didn't look at any paperwork at all?
05:55No.
05:56OK. OK, and...
05:59..can I ask you honestly, were you buying a dream?
06:02Um, yeah, definitely.
06:03Whilst I really get the romance and the wonderful idea
06:07of finding a kind of totally hidden gem
06:10in the middle of a sort of overgrown, gorgeous garden,
06:13it is a bungalow.
06:15You can never go up with it because they don't work very well.
06:19I mean, you could go up, but...
06:20Yeah.
06:21..the cost of trying to put a first floor on that,
06:24you'd be better off demolishing it and building another house.
06:27Laura's bungalow was built towards the end of the First World War,
06:30when single-storey houses and larger gardens
06:32were becoming the suburban fashion.
06:34But the high price of raw materials, the bricks,
06:37tiles and wooden joists, and shortage of skilled labour,
06:41meant the build quality of these houses often suffered.
06:44So you're planning on doing the work, and so, in a way,
06:48I mean, you're going to be earning your money by doing the work.
06:50Yeah.
06:51Because you've done all of this so far.
06:53Yeah. Oh, yeah, I've saved thousands already,
06:55just taking things to the tip.
06:56Everything you see, I've done.
06:59Laura took a big risk buying with such a short lead time.
07:04If you're going to buy it at auction,
07:05the properties will be listed three to four weeks before the sale.
07:08So make sure you do your research.
07:11Every lot will have a legal pack associated with it,
07:14and that will contain lots of information
07:16and any restrictions which might come with the property.
07:19You obviously need to make sure you've got your finance in place.
07:22You'll need a 5% to 10% cash deposit to be able to buy an auction.
07:26So what's this room going to be?
07:28So this is going to be the living space,
07:29and then the kitchen extension was probably done in the 80s.
07:3280s, yeah.
07:32So they're locked in and they're not locked in safely or to building regs.
07:37So therefore, because we're going to have to bring all of this down from this end,
07:40I said, if we're knocking down a wall, why not make it bigger?
07:44To be honest, why not?
07:47If you didn't need to rebuild that extension anyway,
07:50Yeah.
07:51it would not make sense.
07:52So all of this wall here will come down and, oh, and all of that will come down
07:59and you'll square it off.
08:01And will you come through the front door straight into the kitchen diner?
08:03Straight into a big open space, yes.
08:05Do you think that maybe there ought to be a sort of porch area?
08:09Otherwise, every time you open the front door,
08:11all the heat in that open space will suck out.
08:15Yeah, yeah, potentially, but I haven't considered it yet.
08:20Haven't you?
08:21Laura's planning on knocking down the roof and wall of the old kitchen, which don't
08:25meet modern safety standards, and extending out two metres to create an open plan living,
08:31dining and kitchen area.
08:33She's moving the front door, but could also consider adding a porch to stop the warm air
08:39being sucked out every time she opens it.
08:42I mean, someone could always build a porch on the outside, couldn't they?
08:45Yeah, exactly.
08:46And actually, you've got the depth out there because the house is misshaped.
08:50So that's a very easy thing to do.
08:52Laura's also planning to create an ensuite bathroom for the master bedroom.
08:57OK, so this is one bedroom. That's another. And then you're going to put an ensuite in here?
09:02Yeah. Is that right?
09:04Yes. Everyone said no, but I'm going to do it.
09:08So this was obviously...
09:10Somehow, I think this is a pattern for you, isn't it?
09:12When people say no, you think...
09:14You think, oh, I'm going to prove wrong.
09:15How? How are you planning on having the ensuite here?
09:18A cavity sliding door from the master into the room, a large double shower at this end,
09:24and a wall-hung vanity on this wall with the mirror here.
09:27Because you are on quite a budget. I mean, you're good at saving,
09:30but you don't have a lot of money to do this.
09:32In the shower room, you could consider using sheet cladding rather than individual tiles.
09:38It's a lot cheaper, it's quicker to fit, and there's less maintenance.
09:43And you can get some amazing products, which is very light, which looks like stone.
09:48Yeah.
09:48And what happens to the door? That's rather a nice door, isn't it?
09:51Yeah. So the door, I'm going to restore.
09:54Same as all the 1920s original doors are going to get stripped and re-hung in this house.
09:59I think I just need like an eighth or ninth day each week at the minute.
10:02That's perfect.
10:05Over the next six months, Laura's hoping to build a kitchen extension
10:09and get the bathrooms and bedrooms habitable.
10:12But her tight budget means doing hard graft herself,
10:16despite being a renovation rookie.
10:18So I'm going to be really honest, I am really impressed with Laura.
10:22She is a proper grafter, a really, really proper grafter and deserves this amazing house.
10:29Yeah, she's got some steel, hasn't she, that she went and bought this.
10:35And actually, you know, when I first saw this, I thought
10:40that she must be absolutely mad, it should be demolished.
10:43But I think I get it now.
10:46I am really excited, even more driven than ever, and just want to put my overalls and get to it.
10:55Coming up, a project of epic proportions.
10:58This is insane.
11:00It feels a bit like the inside of the Titanic.
11:10230, 235, 240.
11:12Across the country, more of us than ever are choosing to buy property at auction.
11:17And do whatever it takes to transform them into our perfect homes.
11:23That was cool.
11:25In Rhettford, new homeowner and wannabe renovator Laura
11:30has enlisted her dad Martin to hand dig trenches so new electrics can be installed.
11:36I mean, I never had a gym membership, but I don't need one now.
11:41Today we are trying to manually dig out some trenches.
11:45So, yeah, we're down to the top of the foundation, so that's where we need to be
11:48for depth-wise, so the new electric cable can be put in.
11:52I've set aside Friday, Saturday, Sunday for this, because Monday and Tuesday is when
11:57National Grid and Seven Trent waters are turning up, so it's got to be finished.
12:02I'm obviously doing this on as much budget as I can,
12:05so everything that I do myself or with help from family and friends is obviously saving me money.
12:10I worked it out last weekend, probably saved about £6,000 so far.
12:16He's doing a great job and as and when I can, I'll be here, you know, although he's killing me,
12:21I mean, not as young as I used to be.
12:26All right, well, get to it then, I'll get your sausage roll at lunch.
12:28Off you go.
12:30Property auctions can be a way of finding interesting buildings that wouldn't normally be on the open market.
12:38For example, properties with a heritage status or that have been open to the public.
12:44Just like this, form a library in Stoke-on-Trent, where the average price for a residential property
12:51is £150,000. In the basement is a treasure trove of hundreds of decorative Victorian tiles.
12:58Now Grade 2 listed, the building has been used as offices and a meditation centre,
13:04but has stood empty for three years. Its new owner is Tarik, an IT teacher and father of five with
13:11a
13:11passion for renovation.
13:13I've always been interested in property. I can remember being 12 years old and the ceiling in
13:18our living room fell down. So my dad got someone local to come and fix it and I sat there
13:23watching
13:23him every single day. I was fascinated that a human done this. In my head I thought a robot comes
13:28and
13:29does this and that was it. That was the beginning.
13:32I first came aware of the old Stoke Library when I was driving past and it had a for sale
13:38sign on there
13:38and I thought, oh, what a beautiful building. So I inquired at the auction at that point. Guide price
13:43of £300,000, which to be honest was outside of my reach. But I did keep following progress on the
13:50library and then it didn't sell. So I thought, oh, okay, so maybe I've got an opportunity here. Anyway,
13:55I came back to auction at the guide price of £150,000, which I was shocked. So that's when I
14:00thought,
14:00right, I've got to give it a go. Tarek rang up the auction house and offered the £150,000
14:06guide price and the vendor agreed, which is something you can always try before the auction
14:11or after if it fails to sell. He now has a budget of just £50,000 from savings and loans
14:18to transform this neglected landmark into a wedding venue with a cafe in the basement.
14:25I want to do my own business venture, you know, something towards my retirement maybe. But at the
14:31same time, you know, I want the community to benefit as well. I want it all hustling and bustling again,
14:36because I think it's such a beautiful building. It's just such a shame that it's locked up.
14:41So the plan is to get the upstairs venue up and running first. And once we've got that going,
14:47we'll generate an income from there, which will help me fund downstairs, hopefully to get the cafe
14:53to a decent standard. Transforming a building to run as a business comes with lots of hidden costs.
15:00This is Tarek's first venture of this kind. And with two wedding bookings already in the bag,
15:06he needs to get going. What can I say? This is insane. It feels a bit like the inside of
15:12the Titanic,
15:13or what I imagine it was like. So what are your plans for this floor up here?
15:18The plan is to make a bridal stroke VIP suite there. That's going to be all glass. So you can
15:24look down. I know. Why would the bride and groom want to be in a glass box? I would really
15:32question
15:32whether it's worth an enormous amount of money, which it will be, in having huge sheets of glass there,
15:40which will have to be safety glass. It will cost thousands doing that. I've thought long and
15:43hard about this. I really have. And believe it or not, that's one of the reasons I haven't been
15:47in the partition wall yet. Or order the glass. Because you're not 100%. I'm not 100% sure.
15:52So you've got two weddings booked so far. How long have you got before that? Two months.
16:00Two months? Two months. Eight weeks that is. Eight weeks. Eight weeks until they have a wedding here.
16:05So I'm hoping within the next four to five weeks we are 95% done up here. Good. The thing
16:10about
16:11weddings is that you get a couple of bookings. Great. Also it has to be perfect. Because for weddings
16:16it's all about the Instagram shop. So it's all about photos. You need to have, it needs to be so
16:22good for a wedding. Absolutely. Great. Will you show me around?
16:31What's this going to look like? What's it going to be? So this will be the main function of the
16:35building. So, you know, anyone booking it, this is where they'll have the main event. You've got
16:40crates of chandeliers. You know, the chandeliers. I mean, that was like my big thing. I mean,
16:45they are humongous. They're like 1.5 metres by 1.5 metres each. And I bought five chandeliers in total.
16:51So I think I've got carried away a little bit. But that's the purpose. I mean, don't worry about
16:55everything else. Just those chandeliers. Just those chandeliers. Where did you buy them from?
16:59Well, I actually got them direct from China. How much were they? Um, in total it cost me about
17:05eight and a half thousand. For five chandeliers, which I think isn't bad. And are you going to put
17:10these together yourself? I certainly am. That is the plan. And are you going to pull them up yourself?
17:15That's the plan. And these are the instructions. So you can imagine that's all I've got to work with.
17:19That's yeah, absolutely. So that's going to be interesting. I am so glad.
17:29So this is the lower ground floor. What amazing tiles. Yeah, this is why it's listed, presumably.
17:36Yeah. So this is Minton tiles, which were mass produced at the time and cheap as chips, really.
17:42And now, of course, it's shut. Pottery didn't make them anymore. And now here they sit.
17:50The tiles are original block printed ceramics, often with medieval inspired pictures made by the local
17:57Minton pottery in the 1870s. Some things need to be preserved, you know, and this is one of those
18:02things. And that's why our aim is, you know, because they're beautiful, absolutely beautiful.
18:07So what's the plan down here? Well, down here, the plan is to have a cafe, coffee, cafe stroke,
18:15library, bookshop, just to keep the building in theme of what it originally was. When I look at the whole
18:21of your project, I looked at it and think, okay, the key thing is you have to keep your costs
18:26really low,
18:28because I'm not sure your income is going to be really high to cover the costs. I think you're completely,
18:35completely mad to have bought it. But you've got to sell a lot of coffee and have lots of weddings.
18:40But I do wonder sometimes, I'm putting all my eggs in one basket here.
18:46But you know what? I love a dreamer. And if you don't dream, nothing happens. Oh, absolutely. You know,
18:52I'm not going to give up. Tarek's ambitious budget and time frame of the upstairs being
18:57perfectly wedding ready in just eight weeks, whilst potentially building a giant glass box as a bridal area,
19:04does leave me wondering whether this is the business opportunity he thinks it is.
19:09This is a very iconic building, and I do get why Tarek bought it, but you know,
19:13the truth is, I think if it hadn't started at 300,000, he wouldn't have thought he was getting
19:17such a bargain at 150,000. And time will tell whether he got a bargain or not.
19:24The great thing about auction properties is that it's the buyers on the day who decide the value.
19:30In Norwich, at Auction House East Anglia, auctioneer Chris Bailey and the team are gearing up
19:36for their monthly live stream sale, where they usually sell around £12 million worth of property.
19:42So today, 124 lots. There are some great little properties where we've got a good number of
19:49bidders registered, both residential, commercial, and in fact, some land as well.
19:54Auction houses are seeing strong demand for plots of land, which are hard to value and regularly
19:59outperform their guide price. Buyers can be unpredictable.
20:04The most popular piece of land that we've got in this auction is at Clacton, just off Eaton Road.
20:09It's a piece of land that's previously had a number of garages on it, and for some reason,
20:15it has garnered an enormous amount of interest. We've had in excess of 75 people looking at the
20:21legal pack. But that one, lot number 64A, is going to be an absolute cracker, I think.
20:27I want to get on with today's auction. That's what it's all about.
20:30And if you're a purchaser today, I hope you secure the property you want.
20:33This popular lot was bought in by auction agent Mark Willett, who's hoping to make the seller some
20:39money today. She was, at the time, negotiating with a prospective purchaser privately, principally
20:46some of £5,000. It came to me, I looked at it and said, I'm sure we'll do better. I
20:52went to see it.
20:53I wasn't too inspired, I'll be honest with you. It's a pretty ropey little bit of land, but I knew
20:58how
20:58well little pieces of land do at auction. The outline in red there, the triangular plot,
21:03that is what we're selling. The area in blue is a point of way, so that has to be kept
21:09clear,
21:09which prevents anybody from developing the whole site. We put it into the auction at £10,000 to £15,000,
21:16and it's fair to say the phone has rung off the hook since. Even small, awkward pieces of land may
21:22hold surprising value, as long as there's some development potential. Like this lot,
21:28which comes with tons of fly-tipped, contaminated waste. But the 24 dilapidated garages could,
21:35at the very least, offer a business opportunity for an area that's short on parking.
21:40This is now lot 64A going on at the moment. This is the land, it's in Klaxon. We've got 28
21:48people
21:48bidding online. I've got four telephone operators as well doing. So we've got over 30 people bidding.
21:54I'm going to start with the proxy bidding at £15,000. The guide price of £15,000 is just that,
22:00a guide. It's set by the auction house at the lower end of what they think it will sell for.
22:05But once the competition kicks in, that tempting figure can shoot up quickly.
22:0923 bid, thank you. 31. The bidding is taking place both online and over the phone.
22:1635. The amount of interest in this property has been huge. So we'll see where it goes.
22:2355 bid, 56, 56 bid, 57. 60,000 has now come up. That's now three times the top of the
22:32guide.
22:33Lovely auction, 87 back for Mr. D, 88. Anyone at 88,000? Trump's again by Mr. D at 91.
22:40We're going to sell at £91,000. Gavel's up. Gavel's falling. All done.
22:4691,000. I think he's going to put the hammer down.
22:49When the gavel comes down, the contract is binding and the deposit is due.
22:53Last chance. All done. Sold. Well done.
22:5891,000. Gets a round of applause from the team and the management as well.
23:02A dramatic final price isn't unusual, but with the right-of-way restrictions limiting development
23:09potential on this piece of land, let's hope the buyer has read the small print.
23:17Back in Rhettford, care worker Laura has taken a week off work for an important stage,
23:23the extension. Annual leave. Most people would take an holiday. I take annual leave to come and labor.
23:32After doing the demolition stage on her own, Laura's secret weapon, her builder brother Tom,
23:37has suddenly had a week come free. So Laura is pivoting her schedule,
23:42aiming to complete the kitchen first and the rest of the house later.
23:46My brother wasn't going to be able to fit us in just because he's so busy. But luckily for me,
23:50he's had a bit of movement and somebody's cancelled a job. Fantastic. So it gives him five days to do
23:56a couple of weeks worth of work. So which is why me and dad are here doing as much as
24:00we can to get it done.
24:03The team are creating new foundations so they can start laying concrete blocks.
24:08They've already told me how many tea breaks can we have and what time's lunch because I think I am
24:12driving a hard ship.
24:15My initial thoughts when she showed me the photographs, I said, look, Laura, it's too big of a project.
24:21It's your first project. You know, let's start realistic. And if you enjoy it and you, you know, we'll go
24:28again, don't you?
24:30But obviously she likes to jump in at the deep end. But I'll give her a due. She's not scared
24:34of a challenge.
24:36And she's certainly, you know, holding her own. So the entire project I'm doing on the absolute budget.
24:43I'm doing everything I can myself. I'm even buying products myself. So even when I'm getting plumbers in,
24:50I'm going to the building merch, I'm buying the copper pipe myself so that I'm taking out that 10%
24:55that
24:55everyone's popping on everything. It means more pressure for me, but it means more savings in the end.
25:01I'm getting tired, but I'm loving it. I love every second of it.
25:09So first tea break, but they deserve it. So well done, everyone.
25:14I didn't know we had a kettle ride.
25:17Coming up, a demolition dilemma.
25:21Shall we knock the thing down or shall we build brand new?
25:24There's pros and cons for both and we don't want to get it wrong.
25:33I'm following homeowners from around the UK who have bought at auction and are now hard at work
25:39realizing their property dreams.
25:43In Stoke, DIY enthusiast Tarek is restoring the library in keeping with its Victorian heritage,
25:50bathroom included.
25:51These are reclaimed bricks, which are fitting for the building. They were originally in a similar
25:57sort of area, which I found online. So fantastic. That was a good result.
26:01Meanwhile, 80 miles away in Rhettford, whilst the bedrooms and bathrooms have taken a back seat,
26:07Laura is concentrating on the kitchen extension. Some of the existing walls are being kept and tied into the
26:13new brickwork. But the extension itself is being built from concrete blocks and will be rendered,
26:19which is quicker and cheaper than brick. It's good to see a porch is being added to prevent letting
26:24out the warm air, which has also helped to solve the problem of where Laura can put her lovely 1920s
26:31door.
26:31So this is the original front door, which I loved. I had it stripped. It didn't come back in that
26:39good
26:39of condition. Because the porch is going on, it's come back into play. So it's going to be painted.
26:45The build well underway. Laura's sent me an update. So things have changed massively here. So here we are,
26:52the abandoned bungalow. We've just started bricking up the front door, so it's so exciting.
26:56So the boys have been very busy this week. We've got our bi-fold area there. New walls. And the
27:02front door
27:03is going to be here. So I might not have a bedroom and a bathroom to show you, but might
27:09have a kitchen
27:09to show you in a few weeks. She works so hard, Laura, and she's going to end up with a
27:15really
27:15lovely house. I still think she might have been better off demolishing it and starting again,
27:18but she's enjoying the journey and that's what life's about, isn't it?
27:23Buying a property at auction can give you options. Working with what you've got, like Laura,
27:29or demolishing and building your dream home. This is the conundrum for Luke, Sarah, and their
27:35daughter Freya, who relocated from London to Norfolk to be close to Sarah's family and are currently
27:40living in a rental. After inheriting some money, they bought a derelict three-bed detached property
27:46on a decent-sized plot in the picturesque village of Blowfield. But it comes with a reputation.
27:53It's been dubbed Norfolk's creepiest house by a local newspaper who saw the police tape and ominous
28:00signs after it failed to sell at auction. Luke and Sarah saw this as an opportunity,
28:06but they can't decide whether to knock it down and build a brand new house or renovate the existing one.
28:12There are pros and cons to rebuilding or renovating. If you build from scratch,
28:17you can save the cost of the VAT on materials and labour. On the other hand, if you renovate,
28:24you can save a load of cash by doing a lot of the work yourself, if you're prepared to get
28:30your
28:30hands dirty. In Luke and Sarah's case, there's a lot to consider. And you bought it at an auction?
28:36Correct. Were you only looking for houses that were for sale in auction? No, we did a complete
28:41U-turn. We'd actually been looking at new builds, thinking, oh, let's relocate. We'll get a shiny new,
28:47turn the key, move in. And that's what you bought? Yeah. Why didn't you buy off-plan then?
28:54So I feel like they never quite ticked the box for how much money they were. What did you end
29:00up
29:00buying it for? We bought it for £276,000. So how much had you worked out you could spend? When
29:07we
29:07looked at our budget originally, we wanted to move here. It was about £600,000 we were originally
29:12looking at. OK, so you had a budget of about £600,000. So what's the vision with this?
29:19I think that's why we kind of really want your expert advice. Originally,
29:23knock it down, put a brand new up, exactly as we want it. The big laundry room, the big doors
29:28out
29:29onto the garden, the kitchen island, exactly as we want. The question mark I'd have on that is the
29:34numbers at 275, that's quite tight to build a house. Absolutely. If we stick with that £600,000 budget,
29:43it makes it hard work. What's it like inside?
29:47You haven't been in. You haven't been in? No, not yet. Hey, let's go in. Oh my God,
29:52how exciting. That's brilliant. If you're thinking of renovating rather than demolishing,
29:57these are the main points to look out for. A straight roof line, no bowed walls or visible cracks,
30:05and no signs of chronic damp or rot.
30:13OK, so just the bedroom. Real shame. Quite like the curtains.
30:20It smells of damp and bats. Yeah, yeah.
30:28Someone has come along and smashed everything, haven't you? Yeah, yeah.
30:31It's actually really nice. I mean, I know it's a bit smelly. It needs some love.
30:41And the windows are not in bad condition. Yeah, they're OK. They're quite good windows.
30:46There is actually a leak, so I probably should have come in it.
30:56Well, do you know, it's an amazing building. I do think it's a great plot. I've got to say,
31:01I don't think this house is that bad. I don't think it's a scary house at all. I think it's
31:06really cool. OK. My gut feeling, I'm going to be really honest, if I was you, I'd refurbish this
31:14and live in it for a bit. The amount that you've paid for this, you don't have enough money to
31:18build
31:18the house of your dreams. You could refurbish this in eight, 12 weeks and move into it,
31:24and then you'd be in. Then you could go for planning. There's a lot of paperwork and red tape
31:29that comes with building a house that it's absolutely essential you get right. And if you
31:36don't get it right, it can really bite you. I think my heart's still knocking it down,
31:42moving it back, extending it and making it our family home for the next 25 years. Whereas I think
31:47I might be more inclined to speak to our architect to maybe look at a drawing of what this could
31:52look like renovated, because at the minute I can't see it. I can see this being a really happy family
31:56home. So whether you live in this or whether you live in something else, I think it's going to be
32:01good.
32:05I think this was a pretty impulsive purchase of Luke and Sarah's, but I think it was a mixture of
32:13emotional, financial and practical reasons that they did. And it's an amazing plot.
32:23Which way they go as to whether they live in this or pull it down and start again, who knows?
32:37In Stoke, Tarek's hoping a classy bathroom will be a selling point for his event space,
32:43with custom colour matched tiles that are taking a bite out of his budget.
32:48I haven't seen these apart from when I first sort of tried to place an order. So I'm hoping
32:53these will match the ones downstairs in our basement. Oh, that does look good. Moss green,
33:02specifically. These tiles, I think, cost me just about £600 in total. So they're very expensive for
33:07the small area that I'm doing in comparison to plain white tiles. Well, I just want to keep as much
33:13of
33:13the theme of the building. Here we go. So moment of truth. I mean, these tiles are over 100 years
33:18old,
33:18so trying to match these is not going to be easy. But let's have a look. Oh, they're not far
33:25off,
33:25are they? I can live with that. That is beautiful. Oh, I'm so glad. Tarek may be a dab hand
33:31at DIY,
33:32but tiling is notoriously time consuming. The hardest bit is getting the level. I mean,
33:38it's painful doing them as well, because that's taken me about four hours, just that section,
33:43because they're so, they're small, they're meticulous, they're little tiles. So that is
33:47really something I'm going to have to counter in now for the rest of the project, because I was
33:52hoping I'll have this done in a couple of days, but that's not going to happen. Now a month into
33:57his
33:57project and back to work teaching, Tarek sent me an update. Let's see how he's getting on. Yeah,
34:04so here we are, sanding all the banisters ready for our coats of paint underneath. And the flooring,
34:10yeah, we are going for the same oak laminate you'll see upstairs. I really wanted to go for
34:14oak stairs, but it's too expensive. Onto the main balcony area. As you can see,
34:21we have started the flooring. We eventually decided to knock the partition through. I think
34:26it doesn't make sense. There's so much more light now. Oh, that is much better now. It's all open.
34:32Bit of a nightmare. I've had to cancel a couple of bookings. It's just not going to happen. I'm so
34:37behind. A lot of it's to do with materials and just getting the workforce in and with me
34:43banging back at work, it's actually really impacting. Tarek had a 50,000 pound budget,
34:48which was painfully small and was really a redecoration budget. And he hasn't finished
34:54and he hasn't got an event booked in. I think it's fair to say he has bitten off more than
35:00he can chew.
35:01I would say he needs to break this project down into smaller bite-sized chunks and get
35:05a little bit of it generating an income so that he can then expand out into the other areas.
35:12Coming up, is there finally hope for Tarek to start generating an income?
35:17I just hope to pull it off. It's going to be some late nights.
35:29In Stoke, the pressure is back on for college lecturer Tarek,
35:33who's organised a publicity event in four weeks time,
35:36hoping to encourage some bookings and start making an income.
35:41This is probably the 65th can, which sounds like a lot, but to be honest,
35:47a couple of quid a can, you know, it's not been bad. Although my budget, which I've hit almost,
35:55I don't know what to say. I mean, I'm up to 70,000 pound now, 70 grand. I mean,
36:00I had a budget of 50, 55 max. It's painful. It just happens in these jobs. I've pulled every string
36:07that you could think of, family, friends, help, loans, credit cards, whatever it's taken,
36:12it's got me here. I'm literally going to be here every single weekend. So it's just full on,
36:18absolutely full on at the moment. Done. Thank God. And now on to the other thousand jobs I've got waiting.
36:26Next on the list, Tarek's assembling the two biggest chandeliers to replace the old ones in the main hall.
36:33All right, now I think, yeah, that goes there. At eight and a half thousand pounds for five chandeliers,
36:40these were a massive chunk of his budget. Some of these instructions, they just don't make sense
36:44because they haven't got the exact measurements on there. So I'm actually having to work that bit out
36:48myself, which is a nightmare. It's like, what the hell? This, I think I've done it four times now.
36:55Or, you know, there's definitely something wrong here. That's not right. For the 11th time.
37:03Unbelievable. That's painful. Right, if this falls in my mood, that's two and a half grand
37:10down the drain. Oh, hold it. You got it? Okay. Oh, God, that is heavy. Now the moment of truth.
37:23And this is shaking like mad. And I've just actually worked out, I've got a total of 120 bulbs
37:33on two chandeliers, plus the dancers. That's 250 bulbs. My electric bill is going to kill me.
37:41The first arm. Oh. So we've got loads of work to do, but I've got to do it. It's the
37:50only way I can PR
37:51this place. With the help of family and friends over the next three weekends, it's all hands on deck
37:56before the building is open to public scrutiny. Wow. Perfect. Perfect.
38:04I just hope we pull it off. It's going to be some late nights.
38:15When I met Laura four months ago, she was busy stripping a completely derelict bungalow back to
38:21the brickwork after rather impulsively buying it at auction with no prior research.
38:29With the help of her dad and her brother's building team to do the extension, Laura has
38:34saved money on labour wherever she could. So I always tell my tradesmen to just leave a mess.
38:39One, because they spend a lot of time tidying up at the end of the day and that costs me
38:43money.
38:44But two, because I'm not having skips on site so I can get it to the recycle centre in all
38:49the right places.
38:50She's turned her hand to bricklaying, insulating and decorating.
38:57Making phase one of her project a brand new kitchen complete.
39:04I think taking a leap of faith and trusting what I could see, this is exactly what I could see
39:11when
39:11this was covered in ivy and crumbling and everyone else thought I was crazy.
39:15By knocking down the big internal wall, Laura has transformed a dull, dark corner into a bright,
39:22roomy kitchen living area with bifolds which open up onto the large garden.
39:27The kitchen I designed online, so you save a large amount of money by doing that rather
39:31than going to a showroom. So left to doing this space, I'm going to be doing solid oak flooring
39:36and then tiling the splash back. Once I've paid for those, I'll still be sitting under the £30,000
39:42budget for this extension. And the bungalow now has a very practical porch.
39:48I took on Sarah's advice when she came and she mentioned doing a porch, which I thought was a great
39:53idea because it's going to help with the heating. It's also going to have a little bit of a storage
39:56room and somewhere to put all your shoes and your coats and things like that.
40:00With her spruced up, repurposed front door.
40:05Laura paid almost £140,000 for the bungalow at auction and had a £75,000 renovation budget.
40:13But once she's finished the exterior, bedrooms and bathrooms, she could double its value.
40:18I didn't want to overcapitalise on the property. Obviously, everyone wants to own a property that
40:24is worth more than what they've spent on it. So I kept it really, really sensible.
40:28So for the entire build so far, I'm just over £42,000. I'm months ahead of wherever I thought
40:35I would have been. But that might be because I spent every waking hour here. I'm either at work or
40:41here. But I love it. I absolutely love it. It was totally worth it. I find it really hard to
40:47say
40:47that I'm proud of myself. And I am. I am really proud of myself. This is my first home.
40:56I'm really excited about finishing the rest of the project. I'll be here pushing all winter
41:03to get the rest of the house done. I can't wait to move in and have this be my home.
41:08And she's well and truly caught the renovation bug.
41:12I really do see myself probably taking out the equity of this house once I'm living in it.
41:17I'm going to buy a couple more and starting straight again and just keep, keep renoing.
41:2880 miles away in Stoke, IT teacher and father of five, Tarek, bought this grade two listed former
41:36library for £150,000 after it failed to sell at auction. He needed to transform it into an event
41:43space quickly to generate an income. But with a £50,000 renovation budget and a very tight timeline,
41:50I was a little concerned he might not have fully thought his plans through.
41:55Eight weeks that is. Eight weeks. Eight weeks until they have a wedding here.
41:58I have a wedding here. Have they sent out invitations? Not yet.
42:01Four months ago, this was a neglected building. It may have taken twice as long as expected,
42:08but through Tarek's determination, it's had its grandeur restored. It has been a hell of a journey.
42:15But we're here. I think originally the eight weeks was very optimistic. Sarah was 100% right.
42:22And that's where experience pays off. You know, I'm so glad we cancelled that because look where I am today.
42:26The great hall is sparkling with 120 bulbs worth of new chandeliers.
42:32It's that bling. It looks absolutely amazing. I mean, it took a day and a half on each one,
42:37times five. But you've got to admit, it's the centre, the core of the building.
42:42The partition upstairs, removing that was the best thing ever. The painful part was I'd spent money
42:48doing it up and then dismantling it. But Sarah was right. I mean, it's just given the hall a total
42:56different vibe. It's not just the great hall that Tarek's restored. The bathroom was in a state of
43:03disarray. Now with a thousand pounds worth of tiles as a nod to the original Milton ceramics in the
43:10basement and a marble top with brass fittings, it's in keeping with the Victorian heritage.
43:16The empty rooms had no purpose. Now they're fit for a wedding with new floors, repaired windows and,
43:25of course, more chandeliers. And all this Tarek did himself, toiling hard at weekends.
43:33I just can't wait to see the public's reaction. It is my baby. This is it. You know,
43:38and I want them to feel proud. I want them to feel as proud as me.
43:43Tarek has truly brought the building back to life. But with everything taking twice as long
43:49and unforeseen costs, the risk he took has yet to pay off financially.
43:55I mean, to get to where we are today, it's cost me, with all the works and everything,
44:01around 75k. A lot more than what I budgeted, let's just say. There's so many things I still
44:06want to do, but I've had to stop. I've got to have an income now before I spend any more
44:11money.
44:14Determined as ever to succeed, Tarek is hosting an open event to publicise the building for hire.
44:25I never saw her see this day. People, it's alive. There's voices, there's echoes.
44:32It's a hustle and bustle. Wow. Actually, I've got goosebumps saying that.
44:40There's a huge desk in the middle, a big library desk where we did all the serving,
44:45and this is a much better use because it feels a lot calmer and more beautiful.
44:50Yeah, that was a little hectic, yeah. I've shown that these are amazing.
44:54It may be a while before Tarek makes a profit, but with only finishing touches left to go,
44:59any paid events will help recoup the 25 grand overspend.
45:04Absolute buzzing evening is packed. I can't wait to get the bookings in,
45:09but I want everyone to enjoy it.
45:13I still have two more children that aren't married yet, so there's still plenty of potential.
45:18Tarek's got his family supporting his big night with a very impressed daughter.
45:23It's like a blank canvas and I absolutely am obsessed with it. I love it. He's been working here late
45:28at
45:29night and just to see it all come to life has been incredible and I could be more proud of
45:34him.
45:36It's so beautiful that people are appreciating my hard work.
45:39I could actually cry. I know it sounds crazy over bricks and mortar, but it's more than that, isn't it?
46:04Next time, with one couple building their forever home...
46:07I said to Michelle, I'll do the magic and build the house of our dreams.
46:11And another looking to add value...
46:13We just wanted to do a wrapper and it seems that most of them are sold at auction.
46:17We find out what it takes to tackle a fixer-upper bought at auction.
46:21It's cosy. Don't hit your head. Oh, yeah.
46:47Now for me...
46:51We're going.
46:51Okay.
46:54So we'll be rooting for you.
46:55Bye.
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