The Great House Giveaway has returned to our screens with Tayo Oguntonade as a brand new co-host.
He joins Simon O’Brian for the second series of the BAFTA winning show, which gives strangers the chance to buy a home at auction and work together to renovate it. If they manage to resell within 6 months, they get to keep any profits.
A mortgage advisor and property expert, Tayo is passionate about helping people understand the property market.
He and his wife Antoinette run @BrickzWithTipz to help everyone make sense of property, get on the ladder and renovate their home.
We caught up with Tayo to get the lowdown on the new series and his tips for buying, renovating and adding value to a home.
Hi Tayo. We’re loving the new series of The Great House Giveaway. Can you share any highlights from filming?
Due to the format of the show and the big challenge contestants are set, there are highlights every single episode.
However, a personal favourite for me was when a young couple were given a really large house to renovate. They didn’t have much time to get it renovated and back on the market.
I won't reveal much more but I think I was naturally drawn to this episode because I’ve always had a passion for helping young people or people who may be underestimated in life.
What sort of renovations have helped the contestants add the most value to their properties?
Our newbie developers have had a lot of success by following current trends.
One of the hottest trends over the past few years has been creating an open plan kitchen.
It really does transform the look of the house and a kitchen is always a good place to start to add some value.
Contestants have also had a lot of success when adding an additional bedroom or a downstairs toilet. These changes often expand the scope of buyers that would be interested in a property.
Have you seen any unusual or quirky home improvement ideas from the contestants?
Yes, of course! One of the most notable ideas to date was to use copper pennies on the whole kitchen floor and finish with a clear resin.
I had to chip in and explain that while a few people may like it, it's one of those changes in a renovation that has a greater chance of putting people off completely rather than selling them on the property.
I make a note to remind our developers that this isn't your home. Focus on 'sure things' – changes that you can be sure will add to the value of the home.
Are there any easy or cheap fixes that could quickly improve a home?
Most definitely. A lot of people rip out a perfectly good kitchen carcass during a property flip when they do not need to.
Simply changing the doors or even just the door handles can make such a big difference. Plus it can be done at the fraction of the cost of a brand new kitchen.
The popularity of these quick fixes are increasing so much as people are catching onto savvy ways to improve your home.
Some people choose to paint door cupboards, applying a laminate or acrylic, or simply buy a new door.
This is so important as the kitchen is one of the most important rooms in a property renovation. If you can add heaps of value at a fraction of the cost, you could be onto a winner.
How have you approached renovating or redecorating your own properties?
It's always important to think about the next buyer when renovating a property, unless you plan to be there for a really long time.
This is because first impressions are everything. If I put up lime green wallpaper in the front room some potential buyers may struggle to see past it, even though it'll only take some wallpaper stripping.
It's not worth losing potential buyers by going completely wacky with the decor. It's always good to renovate and create a relatively blank canvas.
But this doesn't mean going with the typical white walls and grey carpets we’re seeing so much nowadays. I see a lot of success with other colours that are still relatively neutral, like sage green or taupe.
How can people get a better understanding of the property market and how to sell for the best price possible?
I think there are two ways of doing it.
One is to study people who are currently taking on renovations themselves.
This might mean turning on the latest episode of The Great House Giveaway or simply following someone's journey on YouTube.
I feel there are always nuggets to pick up and it's always useful to see how people rise up against challenges.
The second way to get a better understanding of the property market is to follow the numbers. It’s important to study the house values in an area as this can really shape your renovation.
Research into the house value can reveal potential price ceilings, or work that has been done that is successful.
This can help shape the type of renovation you want to do and how much you will want to spend.
The market will dictate if adding underfloor heating and premium kitchen worktops will pay off when it's time to sell.
What factors have the biggest impact on the value of a property?
The area of the property has the biggest impact by far, simply because you cannot move a house – unless it's a motorhome!
That's why some houses in the south-east of England would be a quarter of the price simply if they were in the north-east.
It's super important to study the location as, in some cases, no matter how much you do to a property there may be a price ceiling.
Another important factor is the finish of the property – especially when it’s been newly renovated.
Homebuyers know that when you buy a property, the chances of finding botch-jobs when you move in is fairly high.
If potential buyers visit a newly renovated home and they find bad plastering, plug sockets that have been painted over or bad tiling in the bathroom, it can turn them off completely.
What’s the most important thing to look for when buying your next home?
Transport links are one of the most important things to look for when buying your new home.
You really need to think about the next buyer after you as well. This means thinking about parking and motorway links even if you don't have a car, and thinking about bus stops and train stations if you do have a car.
Lots of us still spend most of the week in an office so the ability to get to and from work is something potential buyers are still putting high on their priority list.
What inspired you to start @BrickzWithTipz?
I bought my first property at 22 years old and, since then, my wife Antoinette and I have gained a lot of experience in property.
Along the way we've helped lots of our friends in our immediate circle get on the ladder.
After noticing this, we decided to take it one step further and create content to break down complex property terms, concepts and news for everyone.
This was inspired by the fact that growing up we felt there were not a lot of resources that broke property down into simple terms, using real life salaries and realistic budgets.
That's why 'making property for all' is at the core of everything we do at @BrickzWithTipz and we help to help more and more people every year!
Follow Tayo @BrickzWithTipz and keep up with @greathousegiveaway over on Instagram.
You can watch The Great House Giveaway on Channel 4 and All4.