Property Ladder s09e01

[Music] when it comes to property there's one rule that really stands out adding square footage adds value so much so that building extensions has become something of a national pastime but it's bigger always better should i even be questioning this holy grail of the property world for the sake of tonight's two developers it would be cowardly not to that's because in a credit crunchingly volatile market this week's builds are real epics when money's tight all round it pays to get the most bang for your buck if you're going to demolish all of this you're rebuilding it but just adding another two three feet on yeah yeah if you don't make this house grand and imposing enough i think there is a really grave danger that you won't hit the million pound mark so you might as well not what you've got down and start again [Music] in bishop's wolfram hampshire tanning salon owners and in amanda tindall have just bought this rather ordinary looking 1950s house but there's nothing ordinary about their plans because they're gearing up to supersize their property into nothing short of a mansion and looking to make a staggering quarter of a million pounds profit in just eight months square footage we're going to turn this this little house into a 5 000 square foot house five bedrooms four bathrooms electric gates it's going to be all singing and dancing house 60 miles away in windsor it's one extension mad couple to another metal engineer john parnell and his wife patsy are planning not one but two extensions to their property and are equally convinced it's the best way to bring in the reddies we've worked all our lives and we've made a living but in terms of a future living and we we need obviously a certain amount of money to enjoy a lifestyle that we want to enjoy i mean otherwise we're just going to carry on to retirement in the same old way and the same old we wanted we want to try to take a chance really so we've sold our house yeah so we've sold everything john and patsy intend to be majorly hands-on over a six-month schedule and are relying on the experience from doing up their last 13 yes 13 family homes to see them through but this is different because this is the first development proper development 100 there are thousands of people out there who think well i decorated my kitchen the market went up by thousands oh i made lots of money on my own house i could do developing but they are completely different beasts one is a commercial enterprise the other is living in your home doing a bit of work market rises happen to end up with more money at the end of it and i think you need to think much more commercially about a house if it's actually a development well one of the reasons we chose this house that we thought it was a little bit unique and it had some character so we thought knowing that we've got any experience on the property side if we get a house that's got a chance a bit different to all the others then we've got a little bit further ahead of the game and i'll give you that because this is a really lovely house the victorians built thousands of mock tudor properties and this two-story house is one of them [Applause] downstairs there's a hallway leading to a small reception room an average-sized kitchen dining room and garage upstairs is outdated with three bedrooms and just one family bathroom the first extension will be built over two floors on the site of the old garage giving them a much improved four bedrooms and two bathrooms upstairs and two useful receptions downstairs but then they risk undoing all their good work with an oversized hallway and an undersized single story second extension to the kitchen this will gain them no more than a few measly square feet but will cost tens of thousands of pounds to build so your plans are to demolish all of this section that's right all the back and all of this that's right you're rebuilding it and all you're going to gain is two or three feet here yeah yes so what's the point in in doing that why don't you just use what you've got what do you mean the size of it isn't it yeah because we need to come out to make the kitchen wider but if you if you jiggle around with the inside space you don't need to make it bigger you can use the space you've got and save thousands of pounds of rebuilding this i think there's a much easier way to make an appealing kitchen firstly i'd keep the rear of the property as it is then as long as they also scrap their plans for the huge hallway there's bags of room to create a great cooking eating area at a fraction of the cost of building a new extension i've got an issue with the kitchen because it is so poor it offers very little in terms of sort of feel good factor about it not if you knock all this together you still got a massive space plenty big enough for a kitchen breakfast from living room that means i won't have a utility room but it's still connected so what happens to the machines well they're in the kitchen washing machines i hate washing machines in the kitchen but you're talking about what you would like and this is the whole difference with your 14th house this is a development the last 13 were your homes yeah in a perfect world you'd have a utility room but is it really worth it worth spending another thirty thousand pounds do you have all your thirty thousand no well that's what i reckon all this would cost to demolish and rebuild i mean the bottom line is i don't think you've got enough money in your budget to do the two-story extension to the side let alone rebuilding all the back of the house right john and patsy bought the house for 425 000 pounds and have a budget of just 62 000. they're hoping to sell for 650 and bring in a huge 163 000 profit that's a practically unheard of 33 return way above the 20 most developers ideally aim for it's all based on keeping their costs down to miraculously low level where are you going to find more money when you run out of it because i really think you're going to run out of it on this if we had to find it we'd have to draw it out of the equity of this property so you'd have to take a further loan yeah absolutely and are you happy to do that no obviously not but i mean if we had to do it we can't leave it half finished because that's the joke we would want this finished and you know it's i agree with what you're saying sarah at this moment's time but seriously we have worked to budgets all on our 13 houses before and we have more or less come in to budget and we have done some big work john and patsy need to make every penny of their tiny budget count and extensions only make sense when adding square footage is worth more than the cost of the building works the danger is john and patsy's rear extension could fall well short of this essential rule over in bishop's waltham them andy and amanda tindall and their two daughters chloe and holly have no intention of fiddling around with this small stuff they want to build a massive mansion-sized extension [Music] with a short commute to the city on one side and the stars of southampton and portsmouth football clubs on the other there's some waggish flash cash in the area that a great looking house could really tap into but it's more classically styled buildings that command a premium and this uninspiring property is an unlikely starting point [Music] hi hello how are you hi i'm amanda hello how are you this is really overgrown isn't it just slightly yeah and so uh so what made you buy this how did you find it we found it on the internet we actually just saw it looked at it from the outside and the plot and the love of it as it was it's very gutsy to have seen it on the internet and then just had a quick sort of look through the window and then yeah everyone thinks for a bit crackers actually but you saw the bigger picture um you don't think it was a little impulsive yes slightly yes and in amanda bought this house for 600 000 without even looking inside it they plan to spend another quarter of a million pounds doing it up the idea then is to sell for 1.1 million and clear a 250 000 pound profit i think you'll need to spend all of 250 000 pounds on this development it's a massive project and there's an awful lot of work involved here and you could easily spend three four hundred thousand pounds doing this if it went to 300 i'd be panicking if it went over there i'll be severely panicking i'm sure there is money to be made here but it's really a question of how much i think there's a trick to play that could double the profit without doubling the budget in bishop's wolfen 15 miles north of southampton tanning salon owners and in amanda tindall spent 600 000 pounds buying this property without even stepping inside the front door hope it can be turned into a millionaires mansion that will attract the wedged up locals and bring in a cool 250 000 pounds profit for eight months work so this is where the extension is going to be where we're standing now and it's coming up to this blue line yes it's coming the width of the house again so we'll be standing actually in the lounge so it's a massive yeah it's about 30 maybe 33 feet or 25 depth lounge crikey andy and amanda are looking to add serious value by adding major square footage at the moment there are three bedrooms and a bathroom upstairs on the ground floor two reception rooms a utility a bathroom and kitchen as well as a conservatory and a garage andy and amanda plan to demolish everything apart from two exterior walls and quadruple the size of the property downstairs will have a grand entrance hall leading to a large dining room even bigger kitchen and a football pitch of a living room with wc and study next door upstairs a galleried landing will lead off to an opulent five-bedroom four-bathroom layout inside it all feels highly desirable the problem is their design for the outside could end up looking nothing special i think there's a danger that it could just look like a couple of semis and i think really to get that top whack money you need something that's much grander on the outside and what would you put them to make it grander i think you might as well not what you've got down and start again but then is it not going to be dearer it's going to cost more than a 200 i presume 250 000 to smash this down clear the site and start again it will be cheaper to knock this down and do a new build than it will try and work with what you've got i'll just i've just got a vision of it once the new roof's on and there's new windows i just think it will look very very nice still [Music] i think they need to rework their entire exterior design [Music] what really reels in the local wags and businessman round here is mock georgian grandeur and there comes a point when you're doing so much to a property it costs much the same if not less and knock it down and start again but andy and amanda have another more practical reason to cling to their original building we've got nowhere else to live which is a big thing is that partly why you dismiss the thought of demolishing it because you need to live in it with the two kids and two dogs we need somewhere to live so as the bill goes on fingers crossed we'll be coming into the springtime um we have two options you can move right out and rent somewhere but we said we'd rather stay and see what was going on so you've got two kids and you're going to try and live in this house while there's major building work and demolition going on quite honestly i think that you'd be a lot happier and a lot more comfortable in a caravan than trying to live on site when you're adding this much square footage if you get the design spot on as well there's a great opportunity to make a phenomenal profit [Music] in windsor it's day one of john and patsy parnell's six-month build they've taken a little of my advice and are leaving the hallway but that's as far as it goes the plan for the underachieving rear extension that i think should be left on the drawing board that's underway today [Music] but patsy and i thought long and hard about this we talked to the builder we took the architect we listened to sarah but today the rear of the house is coming down rebuilding the entire back of the house to gain a measly few extra feet of floor simply doesn't add up and i'm diving in before the bulldozer strike for the whole of this extension you're only adding 60 square feet around this area square footage of newly refurbished period houses like this is around 325 pounds per square foot okay so 660 times 325 means that you're adding 19 and a half thousand pounds to the value of this house by doing this now you have to believe me that demolishing all of this and rebuilding it is going to cost you 30 000 pounds so you end up spending half of your building budget on something that's going to make you a 10 000 loss where you look at the front it's so pretty you look at the back and it's not pretty and really what we need to do is just give back the workmanship i think at the back sort of this isn't a gift to history or a labor of love this is meant for business and there's another good reason for cancelling this extension they simply can't afford to build it that's because john and patsy have allowed just 39 000 pounds for labor and materials to rework the entire property and the other figures are just as tight there's three thousand pounds for electrics and five thousand pounds for plumbing only six thousand five hundred pounds has been set aside for their prized kitchen and four thousand pounds for two bathrooms with fees of 4500 john and patsy's entire budget is a highly unrealistic 62 000 pounds the only chance they have of hitting that budget is to ditch the second extension this is a business and if it's a business and you're trying to make money you shouldn't be trying to spend money for the sake of it you're right it is a business and if it is a business then sarah we we want to produce quality i think we'll be putting up the second best and i think if we're going to sell this house and maximize our profits i don't want to put up a second best [Music] it's not about settling for second best it's about making shrewd business decisions the moment i leave the site the rear of the house comes down now there's no going back in bishop's wolfram it's the start of andy and amanda's eight-month build and the demolition gear is also out in force but this time i don't think they're going far enough their project managing a budget of 250 000 pounds they've got 145 000 pounds for labour and materials but so much needs doing the money could be better spent knocking down the entire house and starting again the one thing that we we're definitely not going to do is smash the house down and start again we're gonna work with what we got and turn it into saint very special aren't we i think andy and amanda should be giving themselves a clean slate so they can rework the entire exterior because while adding major square footage should add value to maximize the profit the market has to be carefully researched as well this house is just a 10 minute drive from their development with 4 acres and 7 500 square feet of living space it's on a slightly larger scale than andy in amanda's but it's on the market for a staggering 3 million pounds while the interior may be a tad ott for me personally it shows just how glitzy people in the area are prepared to go there's a lot of people with a lot of money around this area we're very close here to southampton football club so dare i say there are footballers wise with a lot of money and and this is the kind of house that really appeals to them personally i don't like this at all this may not be to your taste and it may not be to my taste but there is a market for houses along these lines it's about the wide frontage the pillars the symmetry of the building i just think this is a big sort of to be honest this estate is similar have a look what i've got absolutely and that is it and that is it's got no character at all this specific market want a house that is grand as you drive up to it that impresses their friends it's about how it looks as you go up to it so if you're doing your house as a development to sell this is a safe bet the look that we're going to achieve will be much better than this yeah do you not think i think so i get the feeling that i've lost this battle now you're on the path you're keeping going down and you're not going to change your mind yeah i'm happy with the design um and i'll just because i'm sticking to my guns on it in windsor john and patsy are now six weeks into their six-month development and are cracking on with the controversial rear extension that doesn't really extend very far now it's starting to take shape patsy is having second thoughts about whether the kitchen is big enough to have a separate utility room after all and is changing her plans basically what we could do here is if we wall across there i can have the utility there the utility room will double as a bootrom and she's moving it away from the back door and the muddy garden that's a fairly big problem now what's wrong with this situation do you know what's wrong uh well you're wet well you've ruined our carpet for a start off my boot room when i was a little girl wasn't the other side of the kitchen you've spotted the deliberate mistake you know we weren't we weren't i'm not letting her in if she does that but if you're going to have a utility room you need to make sure that it's in the right place and that that house is zoned right at the moment you're mixing and matching your living and working areas you'd be turning what should be a lovely relaxing part of the room into a walkway from the back door to the to the boot room you have the opportunity now that you are building this extension to put the utility area next to the kitchen that's a good idea i think it's very good idea i fully understand what you're saying and the demonstration was perfect if john and patsy are spending unnecessary cash rebuilding the back of this house the very least they can do is make the most of their new layout [Music] in bishop's wolf and the tyndalls are four months into their eight-month build quadrupling the house to four times its original size as a mammoth task that will leave only two of the original rules untouched yet despite the chaos that surrounds them the family are still living on site this is my kitchen and bathroom which i now have to wash up in um which is can be quite embarrassing someone needs to do to loo in your washing up but um you just get on with it my friends think i'm absolutely mad being able to live like this i was quite a house proud person before and um and now i'm having to wash up in a downstairs toilet sink living on site especially with kids can be extremely hard but it can also be tough on both the schedule and the builder because we want to start stripping the road get the timbers off right and then taking the shell down but obviously we can't do that if you're still living in the house we could do with you uh trying to find somewhere to go asap so we can get the roof off um so when you plan on taking the roof off we wanted to do it next weekend so really we need to get out you do fantastic yeah okay the only sensible option is to move the entire family out leaving the builders to get on with their work and he's having none of it i love the beard keeping on things just make sure the build is going to time and schedule um it's not a problem really we've done in our old house we had the roof ripped off and the kids were little babies so it's not going to be a problem i'm just looking forward to it to be honest [Music] not in weather like this he's not just days after the roof comes off torrential rain sets in [Music] while the furniture has a temporary residence the family are effectively homeless the build's stalling there's the children to think of but i think i've got a solution that won't break the bank [Music] [Applause] [Music] i seem to have arrived just for the nick of time well done time as well it looks i i think i have the answer to all your prayers it must be pretty damp in that house it is just a pad your savior come on in to this gorgeous home quite honestly this is the perfect solution you've always been a little bit resistant about moving out of your house yes just being here all the time so i'll keep an eye there's a lot of deliveries now so i just want to be here this comes with all services included so you've got all your services already working it's clean it's dry it's it's right on site so you can watch all your deliveries coming and going and you can be here for questions it was getting a bit hair rising in the end wasn't it yeah it is 750 pounds a week but having said that for a couple of months which is all you really need it for it's six or seven grand for that time you couldn't rent somewhere on a short term letter and you're not on site so are you happy with this is the solution more than happy with some idea i've never ever been in one it's fantastic yeah it doesn't get better right andy and amanda wastes no time moving in [Music] i think the mold tower is wonderful best thing i've been in for a long long time very surprised excellent i'm sure we'll be fine in it it's just going to be nice to live in something that's clean and doesn't smell musty and isn't dusty and dirty she's going to work my way around my little new home in windsor john and patsy are now halfway through their six-month schedule they'd always under-budgeted at 62 000 pounds for the whole project and now it's catching up with them very apparent that the old roof as much as i wanted it not to be was shot to repair it isn't a viable option because the damage is so great so basically i've just bit the bullet and said right we've got to replace all the old roof so it has been a bit of a budget buster to put it mildly the small amount of square footage they're gaining at the back of the house is starting to look like a very expensive indulgence in windsor four months into their six-month development john and patsy parnell's rotten roof is being fixed it's costing a whopping twenty thousand pounds that was never budgeted for [Music] they should be pulling back instead they're making changes i want a bigger hall because i think it just gives that central sort of focus on the on the middle of the house don't you the hall becomes the heart of the house and the rest of the rest of the rooms just sort of that octopus tentacles come off of it that's it yeah that's it john and patsy may want a hall to rival their royal neighbour but it's a little out of proportion with the rest of the house [Music] what's more it eats into the rear extension reducing space and light so what we intend to do is run some nice bright ceiling lights in all three rooms the walls painted a light floor we can create a lot of brightness that isn't here at the moment light bulbs just aren't gonna cut it because it turns out john and patsy have made this problem considerably worse by fiddling with their plans again when did you decide to change the doors from how the drawings are to how they are napped they're they're three foot frames yeah and the next frame up is four foot i would have had nothing in the middle i might as we've gone to one big open door so two four foots i don't know you like the idea too so don't blame me it's on the drawing [Laughter] [Music] not having double doors is seriously blocking both the views and the light from the garden what john and patsy really need to do is rip out the central pillar but they won't so i've got a solution that won't improve the view but will bring in tons of natural brightness for around 500 pounds one of these flexible mirrored pipes will pump in the equivalent of 440 watts of free outside light what this effectively is a tubular mirror one end goes through the roof and has this cap on to stop the rain coming in and then the natural light bounces down through the tube into a dark room so with this on it's like that take it off and that's the difference it makes it's stunning yes that's amazing and considering it's quite dark outside as well it's not a bright day so i think you need to make a decision really what do you reckon i'd like this oh definitely this this is the one for me isn't it what do you think for you for us this is the one for our potential buyers in bishop's wolfram and in amanda are six months into their eight-month schedule there's still a lot to do but the sheer scale of this development is now clear to see it's a stark contrast to the motorhome which though useful was always going to feel tight on space especially after three whole months i am now counting down the day that i get into my lovely new house i will be about another five weeks i would think i'll think weeks and four days four and a half days yeah not that i'm counting or anything i'll say at least at least a month so it's an enormous relief that four weeks later the family are back into the development but now the huge space on offer is proving to be a major headache the problem we're having with this size of these rooms obviously is decorating it because it is such a stupid size room and i am now to think about how to furnish them properly so they they look at their best dressing and decorating a property that is so big it can double up as a roller rink isn't going to be easy to get top whack the inside needs to be seriously swanky so i'm taking andy and amanda to this huge development just outside southampton to show them exactly what's expected it's for sale at three million pounds and the interior design makes the most of the massive space first impressions as you come through the front door you need you need people to be kind of fold over by by it and and here you are seems good with huge spaces you can't leave any of the design up to chance expect to spend big on items like a feature staircase and flooring [Music] after milan about having the we didn't put an edge in all a different color in it a relief yeah i think it yeah looking in it now it looks nice isn't it from the hallways right through to the kitchens the golden rule is the bigger the space the bolder you have to be in a big space like this you can't afford to go off white if you're going to use a color you've got to use a color you've got to do it and you've got to do it with knobs on and i think that's what makes big spaces work is being bolder than you normally would be here they've got a whole bank of ovens instead of one oven they've got two dishwashers every every possible luxury you could need it's not my taste we were thinking they're going for more neutral colors so it's a blank canvas for someone to move in and to perhaps put their mark on i think at this end of the market when people are spending millions of pounds on a house they don't want to come in and start decorating so they do want it designed for them rather than completely a blank canvas so whilst you don't want it to have kind of leopard skin on the ceiling and the walls you have to design it to a certain extent [Music] major design statements are key but when your sitting room is as big as most people's entire home how do you fill it up you've either got to use much bigger furniture or more furniture and here they've got one two three four five six seven sofas which anyone normally would think was excessive but it fits in him it works really well this this is definitely happening yeah the dressing if i thought it was important before befall i'll definitely do now i think we're going to get some more furniture [Laughter] [Music] in windsor right on their six-month schedule but certainly not on budget john and patsy's development is finished on the side of the property the first of their two extensions blends seamlessly into the original house allowing for a fourth bedroom and second bath from upstairs which should add important value but i think the ground floor is less successful to me the hallway has serious delusions of grandeur in a way this is perhaps the house is downfall because it's such a big hallway and then it's almost a bit of anti-climax when you go into the other rooms and they're not you'd expect the rooms to be bigger than the hallway i like big hallways um and um yeah i got one yeah just so happen it all worked out that's right you know it's always handy sarah because if you're having a party you can have it in the large half and keep the rooms tidy the rooms either side of the hallway may feel small but at least the detailing is spot on traditional features have been given a contemporary twist that really play up to the property's charm but delightful as it all is there's still the old issue of the rear extension i think it was a massive amount of effort and money for not enough gain so they've done what they can continuing with their stylish interior design lit up by the sun pipe you really stepped your guns here didn't you knock the whole of the back of the house down so that you could get the width but it's cost you a lot of money and actually in reality you haven't actually made it a much bigger house it's still pretty much what it was before if you remember the roof sloped as well and we had no view of the garden so although we might not have got a great deal of space we've got a usable space now so you stand by your decision to knock this down and rebuild it 100 i mean the truth was what was here wasn't serviceable was it [Music] i don't think we'll ever agree [Applause] the end result is that john and patsy spent serious cash on their whole development now you bought the house for four to five didn't you and you were planning on spending 62 000 refurbishing yes how much did you actually spend though we actually spent 158 000 pounds that is quite a loss yeah i think the 62 was totally unrealistic yeah i mean i don't know if you agree with us john and patsy went over budget in just about every area labor and materials rocketed from 39 000 to 75 000 pounds electrics doubled coming in at 6 000 as did the plumbing which came in at 10 000. the 6500 pounds they plan to spend on the kitchen rose to 14 000 but they came in under budget on the bathroom spending 2 500 pounds they hadn't budgeted for furnishing and decoration costs which came in at 25 000 pounds and fees and professional costs shot up from four and a half thousand to twenty five thousand five hundred pounds not surprisingly john and pat's sixty two thousand budget ballooned to a hundred and fifty eight thousand pounds so you need it's urgent sale time you were hoping to sell for 650 what what do you think it probably is now where perhaps now we could be looking i think 750 750 might be a possibility at 750 000 they would just about hit the 163 thousand pound profit they'd hoped to make it's got great curber fields a very pretty house i've done that extension as well [Music] now i like this kitchen very nicely done what a fantastic hallway much more spacious than you'd expect from the outside a little on the small side though it's a shame i think it's a bit dark and i think it's a little bit too large a lot of wasted space here really [Music] in my opinion i would market this house at 675 000 pounds i value this house for 685 000 pounds i value this property at 695 000 pounds i have had two evaluations done on the house and they have come in at 6 seven five six eight five and six nine five what does that lever say how much money do you make uh that would make you from the lowest valuation ninety two thousand and the highest valuation a hundred and twelve thousand pounds from this so it's profit it's it's still a lot of money oh yeah that's a good problem six months you do look a little bit disappointed i mean we'd like more but if that's what it is that's what we have to deal with isn't it did it make it worthwhile oh yeah crappy yeah still a fair old kick and there's no choice it's not bad is it no and i mean let's face it if we and we're doing something we like we do tonight and if we move on to the next one we can probably make more profit out of being more realistic hopefully i might work the budget out use a calculator next time i don't know john and patsy put the property on the market for just under seven hundred thousand pounds but sell five months later under the lowest valuation at six hundred and sixty-five thousand pounds making them an eighty-two thousand pound profit that's a thirteen percent return not quite the 33 they were after but not bad in a seriously cooling market over in bishop's wolfram after nearly 10 months of hard work the development is really starting to come together the decoration is well underway outside the grounds are being landscaped and andy and amanda are feeling good about smashing through the million pound mark no one is going to knock it who's got any idea of what they want for their money there's nothing they can knock everything is top dollar in it in bishop's wolfram nearly four months over their eight-month schedule andy and amanda have finally completed their hugely ambitious first development and boy does it look different what was once a modest 1950s house has been given one major dose of steroids [Music] this five-bedroom mansion is now four times its original size my goodness it's big but it's not too big it is it is a big old lump building there isn't it i still fundamentally think that there could have been a more impressive house on the plot i don't think if we'd have gone i don't know different shapes and things it would have got any more money i just looked at it and i kind of think does it look a bit like a cam from the side [Laughter] yeah at the moment i think it looks like a newbie and i agree with you but i think once um the trees and the grass are taken and we're back into spring i think it will fit in even though i'm not entirely convinced by the design the sheer size of this property holds a premium in itself does the inside fulfill its potential though oh now this is lovely you see this is the kind of hallway that you'd expect from a million pound house it's exactly what we wanted we the the oak stairs which were a hell of a lot of money they just they do make the entrance a grand staircase is just the kind of extravagant feature a house of this size needs and andy and amanda have done well to carry the luxurious feel on into the rest of the house cracking the interior design of their massive kitchen was always going to take a bold statement and acres of black granite fill the area with suitable opulence this is great this room and we're playing to the kitchen what you said originally when we looked at those houses um last year about keeping the wow factor going and we we've taken that on board aren't we and then we think we've got that you're coming through the hall into here and it's it is getting better i think moving through to the living room you're really hit with the incredible space this house offers although perhaps understandably here and in amanda found it a little harder to get the design 100 quite right it's so bizarre to think that this whole room is the entire original house isn't it yes this is everything it does feel that you're just a little bit bowled over by the size of the rooms and you're not quite sure what to do with them and you're like okay so we'll just kind of keep it neutral and put our furniture in which is completely swallowed up by the rim and yeah it is tricky to fill rooms right yeah on a smaller development i think it's an absolute doddle but this you've got to get it spot on i think i think you have to be bold with the interior when you look at the sofas and the curtains and the pictures on the walls you've you've kind of started to really think okay we can we can be a bit daring with this space [Music] upstairs the master bedroom again could do with attach more furniture but there's no denying it's truly regal dimensions and next door the master suite is up to the mark with twin sinks walk-in shower and designer bath what i want to know is did they manage to keep to their 250 000 pound budget [Music] so how much did this beast of a development cost them we come in at 3 50 in the end so i mean when you started this you were you were um saying that you'd be quite horrified if you spent more than three was there a point which you just thought oh crikey where's this going yeah yes at some stage it just seemed to be sort of eating money and then so when we got our head around the size of it we should have we did realize it was gonna make money but it was sort of never-ending what do you think it's worth now it's taken a year of our life we've lived in motorhomes and it's been quite stressful yeah so to sell this i'd want more than 1.1 so you wanted 250 000 profit when you started this project in a year on you still want 250 000 out of it basically yeah more or less yes i think we will stick to our guns on that i think so to get that quarter of a million pound profit andy and amanda will now have to sell for 1.2 million pounds i love this central island i think the island works really really well i particularly love this gallery landing really has wow factor wow impressive room again very nice ensuite lovely room it seems to be caught between a rock and a hard place it's neither contemporary ultra modern or old in character had it been styled more grandly it would appeal to a wider audience of buyers and it would achieve a higher price i would value this property at 950 000 pounds i would value this property at 1.1 million pounds i'd value this property at 1.3 million pounds we have had three agents around to value it and they came in at 950 000 1.1 million and 1.3 million variation big variation yeah so at the bottom valuation that would make you break even if you sold at the highest you'd make 350 000 which would be a great profit yes does it not concern you that they might be right at 9.50 no i don't think i think anyone valuing this under under a million need their eyes tested the lower two valuations did both say that if this was a more architecturally designed and ostentatious house that you should be able to add between one and two hundred thousand to that price tag there's nothing all to change i'm still happy i'm happy it's still worth 1.2 all day long and i will stick to that i just think the square footage and things are around and location and the size of the plot it's worth a lot more than people think andy might be happy but will it bring a smile to the face of potential buyers not designed for the space they've got it looks extended it's nice love the hallway wow very imposing entrance oh wow you could live in here it's fantastic [Music] this is beautiful furniture's a bit lost oh that's lovely nice shower richard nothing at all that i didn't like about the house i'd definitely put an offering definitely consider it overall i liked it on the inside however i do feel the outside lets it down quite a lot i feel there's a bit of a disparity between the style of the inside and the style of the outside this mammoth property could clearly command a major profit but i think there would always be more money in it with a sumptuous design [Music] so your plans for the future for this house will you just stay put until you get 1.2 or more yes i think what we do we wait and wait for the gardens to mature and then obviously once the house has been here a while i think it looked a lot better anyway right yeah i think at the moment brand new house on a massive plot yeah i think once the grass is up we've planted i think it looked a lot different and i think maybe even more money you don't know how two million you never know joking apart that's not far off what andy and amanda might have been looking at a week later one of the viewers makes a 1.3 million pound offer which if it went through would make them a potential gross profit of 350 000 pounds so is that ultimate proof that adding square footage will always add value the bottom line is it usually should do but there are two basic rules to remember here the work you do shouldn't cost more than the value of the space you add and however large you go the only way to really maximize your profit is to hit your market square on [Music] next week it's double trouble with double developments we're not defeated yes we are this is gonna put us another four grand over i can only recommend you have it done any leaks or any damp that comes in on that and then walls i'm not held responsible well tomorrow night at eight four celebs through their competitive dinner parties in the return of come dying with me next tonight from love shack to log cabin and it only took 16 years in grand designs [Music] hello

Channel: The Forgotten Vault

Views: 36,681

Rating: 4.7828054 out of 5

Keywords:

Id: aXYSGk1mwh8

Length: 49min 10sec (2950 seconds)

Published: Sat Dec 19 2020