First-time buyers looking for a bargain property may be drawn to the idea of buying at auction after watching shows like Homes Under the Hammer, but an insider has warned that the reality can be far more expensive than it appears on television.
Jasmine Birtles, who has worked behind the scenes on the programme, says that while the deals shown are real, the hidden problems are often left out. “Weeks of research, unexpected structural issues, budgets going over – that’s all very real,” she explains. Properties sold at auction may have structural problems, legal complications, or be unmortgageable, meaning the low price can quickly be offset by costly repairs.
Birtles also highlights the risks of the auction process itself. “Once the hammer falls, you’re committed. There’s no cooling-off period,” she says. She advises buyers to research thoroughly, check legal packs, and ensure finances are in place before bidding. The pressure of the room can lead to overbidding, turning a supposed bargain into a costly mistake.
Renovation costs often rise, timelines drag, and final sale prices may not meet expectations. “The best deals now are about adding value over time, not quick wins,” Birtles adds. She warns against treating property as a shortcut to cash, especially for first-time investors.
For those considering auction, Birtles’ advice is clear: “Don’t get swept up in the idea of a bargain. The real cost isn’t what you pay at auction – it’s everything that comes after.”
