Last nights Million Pound Property Experiment

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Unless the BBC bailed them out big time and took care of the listed building fiasco.
I still wan't to know why they are not paying capital gains tax on 'non main residences'
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Chris Oates wrote:

I am sure that they are. But that happens towards the end of the year following the year in which profits are made.
Such profits as there may be.
Lets face it, they are being bankrolled big time, and the Beeb will get whatever profits accrue to get back what they spend. Each step up in propery - if you were doing it for real - would justify a slightly larger loan to do it. Of course the interest on such would be deducted from the profit...
It's about as one finds. Making money out of property development is a big gamble and a fine balance between being a paste over it cowboy, and a proper stucturally aware builder.
You have to be autely aware of what adds a perceived premum value to aproperty, and what is expensive, nice, but doesn't get a potential purchaser reaching for the cheque book.

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Lets make this another thread: just what are the good and bad things to spend on, in terms of affecting sale price?
Regards, NT
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On Fri, 12 Dec 2003 17:55:12 +0000, N. Thornton wrote:

I will defer to the expertise of Estate Agents in this matter but I'd reckon on it being the things that people don't want done whilst they live there.
1) Installing GCH. (not improving it when it's already got it though). 2) Rewiring if the wiring is so bad that a lender would require it. 3) Anything that would stop a lender being happy regardless of weather needed or not.
Also maybe 4) Removing a dated and/or cheap look to kitchen or bathrooms. 5) Adding a shower even if only an over bath unit. - It is now nearly impossible to let a flat without a shower in the middling rental market round here - so I guess the same applies to buying. 6) Replacing the electrical fittings with a consistent and modern style - cheap but can make a big difference. 7) Nice light fittings.
--
Ed Sirett - Property maintainer and registered gas fitter.
The FAQ for uk.diy is at www.diyfaq.org.uk
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Good ones. I'd also think ceiling fans: very cheap to put in, a blessing in summer, and some people know it. Adds a 'show' of extras too. Thats only my theory though :)
Regards, NT
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On 13 Dec 2003 08:24:53 -0800, snipped-for-privacy@meeow.co.uk (N. Thornton) wrote:

Is that the ceiling fans that look like an aircraft propellor from WW1?
I'd always imagined those were a waste of money. But possibly only because I don't have any previous with them!
PoP
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PoP wrote:

Well, having stayed in a non aircon hotel on the beach in Yucatan, all I can say is they made it possible to sleep. When the power failed, it wasn't.
They work, particularly in low humidity environments, and a little on higher humidity.
They aren't a patch on aircon, but they are a lot better than sweet FA.

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(N. Thornton) wrote:> >Good ones. I'd also think ceiling fans: very cheap to put in, a

If youre going to spend 20-40 on something for the house, I cant think of anything that offers better result for your money.
Regards, NT
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snipped-for-privacy@meeow.co.uk (N. Thornton) writes:

What about the head injuries?
(Low ceilings in my house ...)
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"The road to Paradise is through Intercourse."
[email me at huge [at] huge [dot] org [dot] uk]
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On 14 Dec 2003 01:01:28 -0800, snipped-for-privacy@meeow.co.uk (N. Thornton) wrote:

It'd stop me buying the place... Fans are great where mozzies are a problem, a noisy PITA anywhere else.
Jim.
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Jim Ley wrote:

Slow turning ceiling fans are almost completely silent.

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(N. Thornton) wrote:

Interestingly, when we let out a property with one of these fitted, the first thing the letting agent said when she saw it was 'get rid of it', so I swapped it for a pendant fitting...
David
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N. Thornton wrote:

OK done! - see new thread "Good and Bad spends"
--
Cheers,

John.

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Owned by a business so no tax on profits until end of a financial year?; with tax payable 8mths later.
--
fred

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"Chris Oates" <none> wrote in message

Well, it was made clear at the outset that any profit they make after paying back the Beeb, with interest, would be going to Children In Need. So it's not as if it's either their own cash they are playing with, or their own pockets they are lining - they are only TV presenters. I don't know what the CGT rules are for this rather unusual scenario; maybe the charity element will provide an exemption?
Have they actually made enough profit yet to worry about CGT anyway? ;-)
I think the issue of avoiding stamp duty is a biggie; I'm sure the dear old IR won't baulk at chasing that up. As someone else has already said, they shot themselves in the foot bigtime by admitting they were massaging the apparent selling price to get below 500K. Quite how or why the producers let that go out on air is a mystery. Bit of an 'oops' methinks.
David
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writes

I would actually like to see them do it for real.
--
Richard Faulkner

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On Fri, 12 Dec 2003 02:01:45 +0000, Richard Faulkner
They'd probably have to go off and have a good cry. They are far too emotional a pair to be let anywhere near something as technically demanding as modern construction work, building regs and so on. As designers their work looks fantastic, but as builders or renovators I do not think they have a clue. I would have been much more interested in a programme with Nigel showing us how to do a bog-standard renovation without these two flibbertigibbets getting in the way all the time. It was really a programme about two talented drama queens.
MM
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wrote:

It was really a programme about two talented drama queens.
Surely you mean talentless??

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On Fri, 12 Dec 2003 14:11:02 -0000, "David W.E. Roberts"

Not at all. As far as their design work goes I think they have produced some fabulous looking properties from these sows ears they bought.
MM
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Well, I don't know that they HAVEN'T failed! I mean, I don't quite see how this series so far can be seen as a SUCCESS, and the opposite of success is, well, you know what it is. To me now, in hindsight, it looks increasingly like the product of a hip, flip, cool, young production team Somewhere In London, which cooked up the idea to have two excitable young things (in Colin's case, at least) swan their way through seven properties and Make A Million. Consider: Two luvvies, one down-to-earth builder bloke; the magic number seven (not 23, 18, or, more realistically, 100); the even more magic number "one million" (shades of Chris Tarrant here); loads of aggro; fantastic end results in terms of the actual design work; fantastic rolling advertisement for Justin and Colin.
The most interesting stories about this programme would be from the behind-the-scenes planning. A story of how the programme was conceived and made, warts and all, would be far more rivetting than the actual episodes. For example, what was the real reason the builder bloke pulled out? Did he just get sick and tired of the two boys throwing their toys out of the pram? I would have jacked it in after the first one if I were him. Why did the producers wait until the episode in which he pulled out to tell us he was off? (Okay, we were given a brief "taster" in the trailer the previous week.)
As these programmes progress through their allotted hour, one can see the producers' - and scriptwriters' - minds at work. All such programmes comprise deliberate peaks and troughs, the most blatant of which currently is the "No Going Back" series on Channel 4. It is almost laughable how one can predict with uncanny accuracy when the next ad break (on ITV/Five/Channel 4) is coming up, as there will be a sudden downturn in the family's fortunes. And then the ads are over, and, magically, the problem is solved! Everything is once again sweetness and light, and the intrepid family are now marching onward and upward on the sunlit uplands of progress... yada yada yada.
Another 15 minutes and boom! Another calamity, another ad break. And to think that there will be many thousands of viewers all lapping it up and nodding sagely into their cardigans, "How brave, how very, very brave..."
MM
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