Homes Under The Hammer Season 7 Episode 24 Episode 24

Homes Under The Hammer is a British reality television series that follows the journey of property developers and landlords who acquire and renovate properties at auctions and then sell or rent them for profit. In season 7 episode 24, viewers join a team of experts as they tour various properties bought at auction, tracking their progress and assessing the investment potential.

The episode begins in Hackney, East London, where a four-storey house has just been bought at auction for £525,000. The team responsible for the refurbishment plans to convert it into a multi-level dwelling to maximize the potential of the space. The house contains five bedrooms, three bathrooms, and offers expansive views of the city from the rooftop terrace. The buyers estimate that the renovation will take between seven to eight months and will cost around £100,000.

The team then travels to Salford, Greater Manchester to visit a stunning semi-detached period property that was purchased for £126,000. The property has already undergone considerable renovation work, with a new kitchen and a large living room added. The buyers plan to add a further bedroom to the property and install en-suites in all the bedrooms. The project is estimated to take three months and cost £10,000.

The third property that the team visits is in Norwich, Norfolk, where they inspect a two-bedroom end-terrace house bought for £88,000. It is in a state of disrepair and requires extensive refurbishment to make it habitable. The buyers plan to expand the living space by extending the property to include a spacious open plan kitchen, two more bedrooms, and a bathroom. It is estimated that the renovation will take around four months and cost £40,000.

The final property that the team visits is a striking five-bedroom Victorian house in Plymouth, Devon, which was bought at auction for £250,000. The buyers plan to combine the property with a neighbouring three-bedroom house that they have already purchased to create a nine-bedroom rental property. The renovation plan includes creating an open-plan living area, and a large communal kitchen on the ground floor, with additional en-suites and communal areas on the upper floors. The project is expected to take a year and cost around £200,000.

Throughout the episode, the team encounters a range of challenges as they work to transform the properties into profitable investments. These challenges include delays, unexpected costs, and unforeseen structural issues. Despite these obstacles, the team presses on, committed to bringing the properties up to standard and realizing their full potential.

As the episode comes to a close, the properties are complete, and the team reflects on the investment potential of each project. They highlight the different benefits and risks of each property and reveal the likely return on investment. The properties include potential rental yields of between 4-6% and a possible capital appreciation of 15-30%. Ultimately, the buyers are happy with the outcome of their investments and are optimistic about the profits they expect to make in the future.

Homes Under The Hammer season 7 episode 24 is an engaging and insightful look at the world of property development, offering viewers a glimpse into the challenges and rewards of transforming dilapidated properties into profitable investments. The episode is an excellent watch for property investors, homebuyers, or anyone with an interest in the UK housing market.