Homes under the hammer and amateur property developers

I’d been looking all over for the homes under the hammer music wondering where it came from. It’s so distinctive and so hypnotising actually. That music signifies that the estate agents or local “property experts” are coming back to the property to give their opinion on the property’s changed state and provide a new valuation. I must say I don’t know why they don’t just call them estate agents! Maybe because people don’t have such a great opinion of estate agents, hmm.

Anyway, I do always await eagerly to discover how much profit the auction buyer has made.

It’s true that homes under hammer has encouraged many “amateur” property developers into the market and I myself am also hopeful that one day I can become a developer. I love everything about property developing, the idea of buying a dilapidated property and transforming it into something, bright, clean and fresh appeals to me.

I love the idea that it would become a family home for people somewhere, maybe a newly married couple, maybe a couple with small children. One thing I have noticed though is that homes under the hammer (HUTH) rarely ever show people who have actually suffered a loss on their purchase. Or if they have I’ve never witnessed it.

I think that they have at times shown people who stand to make just a small profit of around 5 or 6 thousand, and maybe even people who are just breaking even. But I don’t think they’ve ever shown anyone standing to make a significant loss. So I do think the constant success stories perhaps mean that I am being romanticised into thinking it would be easy to “strike it rich” straight away with property developing. I think this article by the telegraph gives a good overview of what the potential pitfalls are.

Still, it seems like a nice life, visiting auction rooms, bidding on properties, renovating them and selling them on. Although the telegraph article does point out the dangers, it’s still such a romantic idea, sigh.

Money in the Bank

Last week, I got off the bus and was walking the rest of the way to work. The bus did not stop near my place of work, so I had to trek the rest of the way by foot. I was walking to work because my car needed new brakes and some other repairs, but I did not have the money at the time.

It was cold outside, so I decided to stop at the convenience store that I passed to get a cup of warm coffee. The line was fairly long and my eyes started to wander around the store and I noticed a sign about purchasing lottery tickets. I am not a big lottery player, but something was telling me to buy a card.

When I finally got to the head of the line, I purchased a cup of coffee and one of those scratch off lottery cards. I was feeling pretty silly when I walked out the door for buying a lottery card and thought to myself, whoever wins these things. Certainly not me or anyone I know.

I sat down at my desk at work and started scratching the card. I was amazed that my card was a winner. I actually won 800 pounds which was enough to get my car repaired and to put the rest away for the upcoming holidays.

scratchcard

This is not something that happens in every day life, and I have to say this made me feel fantastic and relieved. I honestly did not know where I would get the money to repair my car. I may start playing the lottery a little more often!

A Bathroom to Die for

Renovating my  bathroom was a very stressful process, but was very rewarding in the end. though it did use most of my savings. I previously had ceramic toilet and porcelain sink with what had become faded white tiles on the floor. After being fed up with the look of my bathroom for years, I finally decided to undergo a full refurbisment and I am very happy with the results. My first step was finding new units to replace all of my old fixtures . Before I could even consider what brand I wanted I had to decide what colour. It took a long time but I decided for a “modernised” look I would get an iron bathtub similar to this one.

iron bathtub

However I didn’t baragin on how different it would be to install the new suite and fixtures. I did manage to fit some of the items but in the end had to contact a professional bathroom installation company. Which is exactly why I managed to spend most of my savings on the refurbishment. You see the actual furniture and fixtures are not as expensive as you might think, the iron bath I opted for cost £300 (yes it was a pure indulgence) but the rest of the bathroom furniture was reasonably priced. I did have a strong sense of how I wanted the bathroom to look.

After choosing my furniture and fixtures I realised there was still one problem left, the floor! It was hideous and to go along with the “modern” theme I went with hardwood flooring, this was actually against the advice of the bathroom fitters I had contacted Restyle Bathrooms who recommended ceramic tiles. But as I’d had tiles for a while I just wanted a change and with the cast iron bath I felt the wooden flooring would be a good match and give the look I was going for.

bathroom wooden floor