Homes Under the Hammer kicked off in the present day’s episode with presenter Lucy Alexander visiting a flat in Tooting, London.
The auctioned property in query was a primary ground flat with a information worth of £210,000 plus, and described as having “three rooms, a kitchen and a bathroom”.
While Lucy was eager to make clear “what three rooms exactly [meant]” it wasn’t lengthy earlier than she issued a warning to the viewers.
As she entered the relatively outdated property, a poky kitchen with a rest room main off it was proven first.
“The layout just gets a little more unusual further through the flat you go,” Lucy started explaining. “It’s probably not working is it, what do they imply by three rooms?
“Nicely, right here’s one in every of them, I believe that’s the lounge then by means of right here properly, listed below are the two different rooms. There’s one in every of them down there, that is an unusual little hall space, which is kind of pointless and a partition wall right into a tiny bed room!” She exclaimed as the digital camera panned the rooms.
While the preliminary description boasted a extra spectacular property, Lucy clarified it was nothing greater than a one bed room flat.
It was then when she seemed straight to the digital camera and informed viewers: “So this is a case in point people, always view an auction property before bidding at an auction.”
As for who took an opportunity and purchased the property was a younger man referred to as Charlie and Lucy spoke to him about the plans he had to modernise and capitalise on the flat.
“So what are you going to do to this flat?” Lucy requested. “I’m quite intrigued to find out how you’re going to change the layout, because it’s a little bit awkward isn’t it?”
“Initially I was going to make it into a really nice one-bed and rent it out,” the purchaser defined. “After which I didn’t suppose I’d get planning permission and now I’ve checked out it, I can get planning permission to go into the loft.
“The very first thing is the reception room will develop into a bed room. At the again of the home the place the kitchen and toilet is, that can all be ripped out and develop into a second bed room.
“At the entrance, I’m going to take out the beautiful partitions, they’re going to be ripped out and develop into a kitchen-diner. Hopefully, I can get planning permission and upstairs a bed room and toilet.”
Commenting on his solutions, Lucy remarked: “I think if you do manage to turn this into a three-bedder this is a little pot of gold at the end of the rainbow, you’ve done very well.”
However it wasn’t lengthy earlier than Charlie was expressing his issues for the large challenge and the sum of money required to perform the work.
“Anything that you are worried about with having purchased this property?” Lucy enquired and he replied: “Yes the whole thing really!”
“Obviously I’ve never done it before so everything is new,” he added.
Viewers then came upon how Charlie had given up his full time job and wage so as to commit to the challenge and it was right here when Lucy supplied him some recommendation.
“Sometimes you’ve got to take the risk to get the gain and I think that you should take that risk,” she commented earlier than warning: “Don’t tell anyone I said that!”
The present then returned a 12 months after Charlie had bought the flat to see the enhancements and adjustments he had made.
And he had efficiently turned the flat into a 3 bed room, duplex property, with some work nonetheless to be accomplished outdoors in the backyard house.
As for a way a lot cash he made on the property, two native property brokers valued the flat at £500,000, giving Charlie a £68,000 pre-tax revenue, ought to he determine to promote.
Homes Under the Hammer airs weekday mornings at 10am on BBC One.