First-time buyers across the country are looking for new ways to make their money go further, and many have been inspired by television shows like Homes Under the Hammer. The premise seems straightforward: a run-down property sells for a low price, a buyer takes a chance, does a bit of work, and suddenly it is worth thousands more. It looks like easy money. However, according to Jasmine Birtles, a finance expert who has worked behind the scenes on the show, this idea could end up costing buyers far more than they expect.
You Are Not Seeing the Full Picture
"The deals are real," Jasmine explains. "But what you do not see are the problems that come with them." Having worked on Homes Under the Hammer, she has seen first-hand what gets left out, and it is often the most expensive parts. "Weeks of research, unexpected structural issues, budgets going over – that is all very real," she says. "And not every project ends in profit." This is something we have seen time and again when looking at the true cost of home improvements, where renovation budgets can quickly spiral beyond initial estimates.
Why Cheap Homes Are Not Always a Bargain
It is easy to be drawn in by a low price tag, especially at auction. But Jasmine says there is usually a reason those properties did not sell the traditional way. "They might have structural problems, legal complications, or be unmortgageable," she explains. That "bargain" price can quickly be offset by expensive repairs or limitations on what you can actually do with the property. For buyers already stretched, it is a risk that can tip finances the wrong way, particularly at a time when many households are already dealing with rising bills and higher living costs, and trying to make smarter decisions about their money.
Auctions Can Catch Buyers Out
Auctions move quickly, and that is where many people come unstuck. "Once the hammer falls, you are committed," Jasmine says. "There is no cooling-off period." That means doing all your research upfront, checking legal packs carefully, and making sure your finances are in place before bidding. It also helps to understand how to budget properly before a big financial decision, something many first-time buyers underestimate. But even then, the pressure of the room can lead to people overbidding. "It is very easy to get carried away," she adds. And if you do, it can become a costly mistake.
The Reality Behind Property Flips
TV often shows quick turnarounds and tidy profits. In reality, it is rarely that straightforward. From what Jasmine has seen, renovation costs can rise, timelines can drag, and final sale prices do not always meet expectations. It is why many experts now warn against assuming property is a guaranteed win, especially for first-time investors. Anyone considering it should first understand the basics of investing and risk, rather than treating property as a shortcut to quick cash.
Are There Still Good Deals in 2026?
There are, but they are harder to find. The market is more competitive, and most obvious bargains are quickly snapped up. "The best deals now are about adding value over time," Jasmine says. "Not quick wins." That could mean improving a property, choosing an area with long-term growth potential, or even comparing whether property is the right route versus other options like stocks, funds, or ISAs.
A Simple Warning for Buyers
For anyone thinking about heading to auction, Jasmine's advice is clear. "Do not get swept up in the idea of a bargain," she says. Instead, ask yourself: Can I afford it if something goes wrong? Do I understand the risks? Am I making a sensible decision, or chasing a deal? Because those decisions can have long-term financial consequences.
The Bottom Line
After speaking to someone who has seen the reality behind Homes Under the Hammer, one thing is clear: the TV version of property investing does not tell the whole story. As Jasmine puts it: "The real cost is not what you pay at auction – it is everything that comes after."
