We bought a house for just £15k on Homes Under the Hammer – it was a huge mistake and ruined our property dreams

A COUPLE who bought one of the cheapest ever houses on Homes Under the Hammer have revealed how it ruined their property dreams.

The BBC One show features dilapidated houses that are up for sale under auctions across the UK.

Homes Under The Hammer shows every stage of the process from the first sale at auction through to the renovations.

After the builders are out the house, estate agents inspect the fixed up spec as they value the finished properties.

Couple Graham and Lima brought one of the cheapest homes to ever appear on the show back in 2014.

They spent £14,500 for a one bedroom abode in the Blaenau Gwent village in Wales.

The house initially went up for auction for £8,000 as it did not even include an indoor bathroom and the stairs were in an unstable condition.

At the time, presenter Martin Roberts, 61, was shocked with the surprisingly low price, but he soon realised exactly why.

He explained: “It’s down this little path but the word little takes on a whole new meaning when it comes to the property itself, a one-bedroom cottage. The guide price is just £8,000.

“Really, what you’ve got is this one room, upstairs I think I’ll avoid because those stairs look really, really dodgy.

With a starting budget of £25,000 Lima was optimistic she could renovate the house.

She admitted: “On the last property I found out that I can paint, clear rubbish, make cups of tea, so I’ll do what I can.”

This was as Graham explained: “In my younger days I did everything bar the essential trades, gas, electricity, plumbing, so I can plaster, put the timbers in, floorboards, site manage.”

He initially thought that he would be able to get the renovation of the property done within six months.

However, it was three years later in 2018 when the programme revisited the duo to see the progress of the property.

The house had been practically demolished as extensions were added to the front and back of the beleaguered property.

An indoor bathroom was also incorporated into the floor-plan along with a new kitchen and staircase.

However, their initial budget for the renovation had to be substantially increased after an archaeological survey had to be carries out.

“From the very beginning it was Graham’s baby, he’s finished it to his own vision,” Lima remarked.

Speaking about the budget, Graham added: “We’ve probably nearly trebled it.”

After all their work, the property was only valued in the region of £55,000 – £60,000.

This was far less than the £90,000 they spent on the house and its tiresome renovations.

Homes Under The Hammer is on BBC One and viewers can catch up on iPlayer.