To hate homes under the hammer

[Cappuccinowithonesugarplease]

I know most young families can't afford to buy houses outright, but I see all these more affordable homes go to greedy landlords just in it for the profit. Eugh it makes me sick! Would be so refreshing to see some of these homes go to people who won't just tosh them up cheaply to sell again or rent them out

As soon as I hear the word “portfolio” I start rolling my eyes.

lots of people, buying cheap properties in the North, to rent out, so they can pay the mortgage on their posh London pile.

The housing crisis will never be solved if some people own 20 properties.

i would love rent control to come in, so it was a % of the average salary in that area.

Houses sold at auction are usually not what would be classed as affordable - even if they were sold via the usual route they'd be unaffordable because of the renovation required and wouldn't be habitable doer-uppers. You also couldn't get a mortgage on most of them, so someone with lots of ready cash has to buy them. What would happen to those houses if developers weren't allowed to buy them?

I understand your point about a lack of affordable housing, but I don't hold Dion Dublin responsible for that.

And theh always decorated them in the same blah,way ,

Always amazes me how they can get a complete refurb and change from 10K.

I agree with your thinking OP but as a PP pointed out, it needs to be someone with ready cash who is good at renovation - that counts most people out.

Oh and Homes Under the Hammer lie. My friend was on it and they lied about how much money he made - made it seem like a lot more than he actually did.

If it didn't go to them, it's not going to go to someone who is looking for cheap rent, or someone with a young family looking for their first home that needs thousands of pounds of work that people must freely have to buy a house like that. That programme is all about someone looking for a do'er upper and sell on or rent....thats business. Just don't watch it.

Most galling I ever saw, was one where a LL bought a cheap 4 bed house in a relatively cheap area up north, did a cheap renovation and turned the 2nd reception into a 5th bedroom. Then, as he very gleefully told the presenter, he could rent it out to someone with a lot of children, on benefits. He already had someone lined up.
At the time you could still claim HB for a 5 bed house, but AFAIK no longer.

I used to watch it now and then while attacking the dreaded ironing!

It's when they buy a 4 or 5 bed family home up north, then turn it into loads of flats, or a HMO. There are plenty of flats and HMOs about, people want family homes. I really wish councils wouldn't allow the conversion of houses into flats and HMOs. Fine for big old buildings like old schools/ office blocks/ converted churches where the space is vast but normal homes should stop normal homes not be allowed to be flats and HMOs.

On the point at PP sais about them been out of reach for FTB or people who need mortgages. I do believe if landlords with huge portfolios were not around, those houses on Homes under the hammer would be bought cheaply by councils/ housing associations who have maintenance teams who fit kitchens/ bathrooms ect as a job. It would vastly increase social rental supply if they could get their oars in. Instead they are bought by "Mark with his 87th portfolio house who is going to gut the place and paint it landlord magnolia or white, pop a cheap kitchen in, a cheap bathroom and some £1 a metre carpet all on a budget of £10k and turned round in 8 weeks. Then the estate agent mooches round and exclaims it is done to a high quality and now can attract rents of £900pcm when every other property on the rental market in the area goes for £600. Ugh the show gives me the ick.

I find it difficult to believe the renovation costs. They say they will get new double glazing,gas central heating,new kitchen and bathroom with a 10k budget.
How?

I love it.
They aren't affordable homes though, they cost at least 20-30k to sort if not more! What kind of new property owners have that spare?

You don't have to watch it. I like to see the before and after, like getting ideas not that I can do anything lol

I had to stop watching it for the ridiculous music. They try to find a song that matches up with either what the presenter/buyer has just said or what is being shown at that time.

So for example buyer says 'we aren't going to rent it out we are making it our house' cue Our House by Madness playing. Drives me insane and I had to stop watching

In what way was this galling thought? I can’t see your point.

I was off work ill for the best part of a month and probably watched all the episodes. I certainly wouldn't want to take on any of the properties that were up for auction. Most go for well above the set price. I do envy the builders who can come in and see instantly what the problem is and what needs sorting.

Well it’s a good job some people are taking on the risk of buying houses to rent out - whether it be to families or single folks as HMO’s - because the government certainly aren’t.

Does anyone on here actually understand the reasons behind the rental crisis?

Clue: it’s not down to evil landlords.

Oh, I love the matching music choices. Must be such a good job being the person who chooses it.

I think it's misleading because they always announce the pre tax profit, best case scenario and if the owners are builders/working themselves their hourly rate obviously needs to come out of that which doesn't leave much. I've been watching the new episodes a bit and the profits are way lower than they used to be. I just like the entertainment factor of the before and afters

I'm not sure why people are saying you couldn't get a mortgage on the properties? Am I missing something, they are just regular houses? We got a mortgage on a do-er upper, we did it up with a baby in tow. I mean I was bat shit crazy to do it but it worked out in the end!

This is the best thing about it!!

A family member of mine was on it a few years ago and we were so excited to see what music they used!!

( Before I get jumped on, they bought a project property which they still live in. They occasionally get visits from the programme because they bought it for £120K and it's now worth 1 million)

It was his very obvious glee at the amount of money he was going to be making via HB from the taxpayer.

If even half that money (billions) that went (and probably still goes) to landlords, had gone into maintaining/building social housing instead, maybe the country’s finances wouldn’t be in quite such a mess now.

I may be wrong but is it because some don't have functioning kitchens / bathrooms so are not mortgageable?

Or non standard construction?

Not the only property programme that contributes to higher prices than would otherwise be the case, and therefore shuts some people out of house ownership.

Indeed not the worst.

This is exactly how i feel, people will try and justify it any which way they can though.
If programmers like this didn't exist and landlords were fewer the housing situation would be so much better for those who struggle to afford a hole which they can own for themselves instead of renting forever at high costs.

Getting ideas like paint everything white and fit the cheapest kitchen you can find?

Agreed 👍