To hate homes under the hammer

So if nobody fancies buying a property, it’s better to leave it empty or force the seller to potentially make a loss (or just give the government a shed-ton of money which someone else scrimped and saved)?

Agree it's pretty repetitive and renovation costs appear unrealistically low. Don't mind the music, though presenters' dialogue can be a bit forced in order to justify it. They rarely seem to show cases where things don't work out.
They're presenting a story, following a formula. It's not fully realistic but you don't have to watch it if you don't want to.

Oh i hate the music choices and the dreaded puns! But the worst part is when they 'go back' to the property and show 2/3rds of the story again! If its recorded you can watch it in less than 15mins!
I don't get to see it very often but the other day the bloke said he expected it to be 12mths (needed planning permission). They went back 6mths later?! WHY?! hardly anything had happened

When they take a decent sized 2 bedroom and make it into a 3 bedroom with pokey bedroom sizes and expect it to sell for a premium when it's now just a shit sized 3 bed. Its still the same floor space.

Used to love the show, but you're right. It's always landlords buying now - skimping on finishes then say they'll let it for a few years and sell. Or worse... a beautiful large 3 bed being turned into a 5 bed HMO or dissected into shoddy little flats. Winds me right up.

I watch it now and then. But more then than now!

Most of the auction purchasers are professional buyers, been doing it for years, and flipping.

Most of the buyers have a stable of trades at their beck and call, for a cash, mates rates, etc. cost including the fixtures and fittings from connected suppliers.

They can buy multiple properties and do them up in rotation.

No one ever mentions the fact that if a buyer flips and makes a profit, there is a whack of CGT charged, plus legal etc.

Some if not many are buying as companies set up to buy and flip.

It can be addictive to watch, as many will say "I could do that!" but the reality for an individual buying one property for flipping, with no trade or other connections is that it's not as easy as it looks.

I agree that hoovering up such properties is problematic, but the fault lies with Government policy. If a property is flipped within say three months 40% CGT could apply to the gain, or even more, and a punitive Stamp Duty too for investors too. But then who would buy derelict properties to supply the rental market?

Oh, I'm not leading anywhere.

I would like to point out that there is a national bungalow shortage, with construction at an 80 year low, driving up prices for those with mobility issues who cannot live in a 3 up 2 down semi with not enough driveway for the correct vehicle. Nor can they buy or upkeep the ones with 2 brand new bedrooms upstairs with dormer windows.

https://www.saga.co.uk/saga-money-news/the-bungalow-bottleneck-is-causing-downsizing-dilemmas

To show that it's not as easy as it looks.
To show that things can go wrong
To show that problems can be unearthed once you start renovating
There are posters on here not happy with a quick turnaround
You can't have it both ways

all grey

so many buying and doing up to sell simply after watching this programme

It's annoying. The music, the filming estate agents doing the strut to the house usually wearing a bad suit. The filling the time scenes where the person has to stand in a room and stare at the walls and nod approvingly, sometimes they even look like they are trying to find something and they really can't find the bloody thing. They might straighten a bed sheet or lift a towel up and put it back down.

I hate it when they buy a fixer upper and then go back 6 months later and it's still a shit hole. What's the point??!!

Totally agree

If people will rent it then its a desirable enough area to sell it as long as you a reasonable with the price.

It falls back to the... it substandard so therefore not good enough for a buyer but good enough to be a slum for a renter.

Quite Cosyblankets

A FIFTH of rented properties in the UK are owned by private landlords. Imagine how many more social housing properties will be available! (1000s and 1000s and 1000s actually! Probably more than a million!

Sweet that you think when landlords sell their properties the government snap them up to be rented as social housing.

The grandchildren could have sold it to a family buying their first home or whatever.
No one forced them to sell it to the landlord.
They sold to the highest bidder.

Ye-es..

I said “the country NEEDS more HMO’s and less large properties housing one family or a couple on their own” so to knock down a bungalow and build two semis housing two families is probably quite sensible if that’s what the market suggests.

I didn’t say “we need to get rid of all large properties housing one family and build only HMO’s”, which I’m sure is where you’re leading.

We need more properties and apartments take up less space - a couple or a single person doesn’t need a large house. But if they can afford it and that’s what they want that’s up to them.

So what happens in the following circumstances....
-a divorcing couple need a house for one of them to move into while they sort out their finances? Up to a year or so?
-a family moving out of their home while they have major renovations done because they've bought an old house to do up as a forever family home? Say six months.
-a medical professional on a rotation for their job? Say 6 months to a year.
-a couple renting in an area before they decide to buy? Say six months.
Not one of those scenarios would qualify for social housing.
Where would they live?

You can criticise the principles, the shoddy workmanship, the grey... but criticising the intentionally terrible music choices is going too far!

The community in our old street got pretty much destroyed when transport links improved and the buy-to-let Hammer brigade moved in - never knew who was still living there any more and it really wrecked the place to live in - ended up with shit like cuckooing going on and all sorts of nonsense when it had previously been a cul-de-sac you never came down unless you needed to.

It's still the most tolerable of the BBC daytime TV fodder though - I would happily nuke Bargain Hunt from orbit given half the chance.

It’s right up there with Pans People’s literal interpretation of song lyrics on Top of the Pops! (showing my age!!)

Not read the full thread, but I love how they make it clear that the rent is per calendar month, because otherwise I’d just assume it’s per lunar month.

Is that not a "large property housing one family"?

I live in a 5 bed house, we have 4 dcs at home.

You?

I know you think that’s some kind of gotcha but it really isn’t. No one expects a family of six to live in a one bed flat, but I anticipate that’s the point you are going to attempt to make next..

What type of property do you live in?

Cheap paint job, even cheaper carpet through out, cheap kitchen..if you look closer you see some really shoddy work.

and ripped all of the old history out and knocked down walls etc to make 2 large, lifeless buildings for HMOs, simply for profit.

Simply for profit? Why else would someone do it? Would you build a house and hand it over to someone for free?

And again, 2 houses are better than one bc people need to live somewhere and there aren’t enough to go round. It’s pretty simple. If the government built a fuck ton of new houses and there were plenty for sale/rent or if they made it a more viable option for people to build houses there wouldn’t be the housing crisis we currently have in this country.

People should be being encouraged to build more houses, not less. And the NIMBY mentality is selfish and short sighted.