The BBC’s flagship home renovation programme, Homes Under the Hammer features the purchase of often run-down properties at auction, with the buyer estimating their budget for renovation and hoping to make a profit with the improvements.
Launched in May 2003, the series has gone on to become the BBC’s most successful show in the 10am slot, with an estimated 1.1 million viewers each morning. It has been running for 14 years and has followed the progress of countless properties that have been refurbished, with new estimates on their increased value following months of hard work. From the onset, the show’s hosts have have been former children’s TV presenter Lucy Alexander and property expert and investor Martin Roberts – seen on the last run of I’m a Celebrity: Get Me Out of Here.
Following Alexander’s departure from the show to pursue new career opportunities last year, entertainment reporter and author Martel Maxwell – a familiar face after presenting segments of ITV’s morning show, Lorraine and a stint on The One Show – took her place.
The presenters of Homes Under the Hammer follow buyers’ progress through the complete home-buying process, from bidding on a property at auction to working out their budget for refurbishments and then following up so see how the project has gone. At the end of the show, a couple of estate agents are invited to give their opinion on the property’s increased value. Each episode ends on a high, with a positive estimate of how the improvements have paid off.
The concept of the show – buying properties that need improvements relatively cheaply and carrying out the necessary renovations to increase their value – is one which is sweeping the buy-to-let property market, according to analysts.
An increasing number of landlords are aiming to buy cheap property in need of major renovations. They then carrying out the required refurbishments before returning the property onto the rental market, in the hope of recouping their money and making a profit in the long term.
As a response to the trend towards house in multiple occupation (HMO) investing, when a number of tenants live together in a single property such as in student accommodation, this is seen to be the highest-yielding buy-to-let investment. Refurbishing the property not only increases its value: it cuts down on long-term maintenance costs and attracts better-quality tenants. Investors have their pick of buy-to-let mortgages and the tenants are happy to live in a high-quality refurbished home.
This is where Furniture Pack Solutions can help: if you’re a landlord who’s refurbishing a property to let for students, it’s important not to go over budget with the furniture when you’ve already spent a considerable sum on the renovations.
Our student room packages and bespoke student furniture options provide high-quality products at cost-effective prices. With purpose designed furniture solutions that are perfect for landlords who want to let student and professional accommodation, our excellent products come with professional and reliable customer service as standard. If you’re interested in finding out more, please contact us for further details.