bbc progs on property development

westv

I actually quite like Homes Under the Hammer. Excluding the money making part of the programme it is quite interesting to see some of the places turn from dire demolition candidates into some really quite nice properties.
How do some do the work so cheaply? They do it themselves or know friends or family in the building trade.

Torby

OMG...next thing they'll be telling us XFactor is rigged.....

dacouch

I think the BBC needs more programs about buying houses, antiques, house / antique auctions, renovating houses and attics. If they could through in some minor celebrities even better...




NOT

AlwaysWorking

The only thing that annoyes me is that they usually say at the end of the programmes that the person bought for x, sold for y and spent z so they made x-z profit.....but what about mortgage payments and capital gains tax? It's not as easy as they make out, as even the worse developers on these programmes always seem to make a healthy profit!

poppysarah

AlwaysWorking wrote: »

The only thing that annoyes me is that they usually say at the end of the programmes that the person bought for x, sold for y and spent z so they made x-z profit.....but what about mortgage payments and capital gains tax? It's not as easy as they make out, as even the worse developers on these programmes always seem to make a healthy profit!

Always check the date on the programs. I think they should be obliged to show it at the top of the screen all the time.

2007 was the year you could buy a shack, paint it with magnolia and idiots would climb over themselves to offer you insane prices for it.

Doozergirl

Homes under the Hammer. What is glamorous about a run down, fag ridden end of terrace in Stoke on Trent?? Hardly any of them are glamorous when they're finished.

I think they reflect pretty fairly. You can see when someone has just managed to get something at a good price and they've not bothered with a proper renovation. If it hasn't been done well, they're quite quick to say. Yesterday a coupld spent just £1100 and we're really pleased with themselves. I think they got done; they didn't do anything except paint and clean! The EA valuations were interesting as the couple said that they had valued at the original asking price (which means I presume that it was on the market before auction as the guide price was a lot lower) so they may well have been too high but there was a gulf between the valuations and what it had cost them, so there was money in there somewhere. It's all in the price you buy at - the work on most of these houses is to make them desirable to other people. The money was made in the auction room. I think you see that quite a lot.

Property developers often start out as inexperienced home owners; everyone starts out in whatever they do as inexperienced. You don't have to have to hammer yourself and you can get trades in cheaply, even as a homeowner. In the trade 'builder' doesn't really exist, it's all individual trades and if you're lucky, a really good all-rounder. If you have the time and knowledge to organise different trades yourself, there's no doubt you'll save money over calling in a 'builder' who then sub-contracts to his mates.

They don't make me angry. I don't always like the people they feature and the renovations are usually rubbish. The presenter is a bit of a grinning idiot as well.

Escape to the country and to buy or not to buy, well those are just 'do you want to buy this house?' with the answer invariably being No! If they've got the cash to spend on the houses they look at, that's their own business.

Doozergirl

AlwaysWorking wrote: »

The only thing that annoyes me is that they usually say at the end of the programmes that the person bought for x, sold for y and spent z so they made x-z profit.....but what about mortgage payments and capital gains tax? It's not as easy as they make out, as even the worse developers on these programmes always seem to make a healthy profit!

Income Tax. Or corporation tax. It shouldn't be Capital Gains for property development.

To be fair, everyday salaries are presented pre-tax as well. It would be a bit difficult to calculate tax due on a 'development' as each case is individual. It is how much money you make after all; it's just that you have to give some of it to Mr Cameron. We all do.

mynameisdave

My opbjection to them is largely reserved to the imbeciles who spend £300,000 on a house they have not seen in an area they don't know and said imbeciles being given air time

123robint

just getting my email notification right

westv

mynameisdave wrote: »

My opbjection to them is largely reserved to the imbeciles who spend £300,000 on a house they have not seen in an area they don't know and said imbeciles being given air time

But the presenters do point out the error of doing that.
They also point out potential problems with some houses too.