A father and son team featured on the BBC’s Homes Under the Hammer were left frustrated when an estate agent estimated they had essentially broken even after renovating their four-bedroom Somerset home.
Marcus and George appeared on the August 13 repeat episode, where host Martin Roberts visited the property they purchased ahead of auction. Located in a desirable area close to local amenities, the home looked immaculate from the outside. Inside, Martin struggled to find any flaws, noting how rare it is to see a house in such excellent condition on the show.
However, a potential “twist” emerged involving legal documents indicating a possible mining issue that could lead to subsidence—a problem that can deter lenders and cause expensive repairs. Despite this, George and Marcus pursued the property at auction.
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Their gamble paid off when a last-minute home survey revealed no mining or structural problems. Although this survey arrived too late to sway most buyers, it allowed the duo to secure the house for a favorable £350,000.
George explained on camera, “We were lucky; a full structural survey gave it a completely clean bill of health in the eleventh hour.”
Martin emphasized a key lesson for buyers, reminding viewers that legal pack details can change right up to the auction, and praised the pair for spotting the opportunity to snag a bargain.
Originally, Marcus and George planned to renovate the property and sell it. With a budget of £80,000, they completed the refurbishment in under four months and impressively spent only £59,000, bringing their total investment to £409,000. The updates included a stylish open-plan kitchen and high-end fittings throughout.
Following the renovation, a local estate agent invited by Homes Under the Hammer appraised the house between £400,000 and £425,000. This valuation suggested they might barely break even, or even incur a slight loss—a figure that clearly annoyed Marcus and George. They argued the estimate was too low, sharing that three local agents had placed the value closer to £500,000.
Martin commented diplomatically, “Whichever way you look at it, it’s either a pre-tax profit of £90,000 or breaking even.”
Ultimately, faced with the conflicting valuations, George and Marcus decided against selling. Instead, they plan to keep the property as a rental investment.
Homes Under the Hammer airs weekdays on BBC One at 11:15 am.