Interview boydens.co.uk 22 MORTGAGE your if you can!’ ‘Overpay We chat with Tayo Oguntonade, property expert, investor and presenter of Channel 4’s BAFTA-winning show, The Great House Giveaway, about his own experiences of getting on the ladder and top tips for investing in bricks and mortar. What first made you interested in the property market? I studied Economics at University, so I was always big on investments and making the money you save work for you. I always knew I wanted to invest in property as it offers a roof over your head as well as a great place to park your savings! Tell us about your first experience of buying a property… I bought my first property around seven years ago now and it was quite an experience at the time. I saved as much as I could and decided I would buy wherever my money would take me. That took me to a town about 30 miles away from home. I had to scrape together every penny so there weren’t any extra funds to do any work, but the house was in a condition that was acceptable to move into. We’ve seen you on Channel 4’s The Great House Giveaway, where two strangers are given a house bought at auction to renovate and make a profit – what are the biggest lessons to be learnt from this? 1. Forgetting to keep an eye on the budget and time. It’s so easy to spend frivolously in a renovation – when you start to run out of time the spending can really spiral out of control. 2. Remember you are not renovating a house you want to live in, you just want to sell it. So, really consider if underfloor heating, gold accents and smart home features are worth it! 3. Finally, sometimes it’s unavoidable, but it’s worth noting a breakdown in communication is almost always going to impact profit.
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