Episode Information Property Ladder: Wanborough

Date Published:

12/06/2008

We've crunched up all our credit, the market's got serious jitters and you'd think novice property developers would be pulling back. Not a bit of it! In this week's Property Ladder, The Beeny has her hands full with two sets of first-timers taking on not one, but two properties each.

Wanborough Cottages

Sisters Helene Simpkins and Paula Harris have bought a pair of tiny Victorian cottages in Wanborough, Wiltshire. The houses were knocked together some time ago and the girls are going to separate them again to maximise potential. But Sarah thinks they'd be mad to try and squeeze three bedrooms into each house.

Budget

Bought for: £267,000
Renovation budget: £84,500
Actual spend: £116,000

In an increasingly volatile market, it took Helene and Paula six months to sell one of the Victoria cottages for £210,000. The other is currently being rented out.

Christchurch Semis

And have Chris and Amanda Hodges got what it takes? Chris is a carpenter, but this couple have got a colossal DIY job on their hands in order to develop the two large semis they've bought in Christchurch, Dorset. Should they develop them one at a time, or together? As ever, Sarah's on hand to dispense advice.

Budget

Bought for: £462,000
Renovation budget: £118,000
Actual spend: £127,000 so far

Chris and Amanda completed the facades of both properties in order to maximise the sale of the first development - which they need in order to finish the second. Six months later, the first house sold for £337,000 but even after another ten months, the second house hasn't sold.