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If you are considering buying and renovating a property from scratch, then unless you are a serial property developer you might need some valuable advice regarding the process as a whole and the steps you have to take to transform a house from drab to glam.
There is lots of hard work involves and you need to see things from a business perspective too to ensure you stay in budget and get more out of the property than you put in. Read our guide to discover the best way to flip a property and make it your dream home – or someone else’s!
It’s not as difficult as it seems to find a property on the market for your renovations, but you need to find the right property for you. First, you need to set up a search area where you’re prepared to travel to and discern whether the property is in a good location once you’ve completed your renovations – as you can’t move it! Unless you have a large budget, you probably don’t want a property that needs a brand-new roof or is structurally unsound. Talk to the agents about a property’s potential and be sure to come armed with a list of common faults in properties that need renovating.
Depending on the kind of property you want to purchase, and the funds you have to purchase it, you may simply need a mortgage or loan to get things moving. This is if the property is in a habitable condition. However, if you’ve set your sights on a real fixer upper, then it’s likely you need specialist advice from a lender. Don’t just consider how much you’re paying for the property itself, you need to take into account everything from the council tax as you ‘re renovating to the interest payable on any mortgages or loans you’ve taken out.
Once you have your property in your name, you have free range to do what you wish to it – within reason! You need to make a list of the property’s main features and how you can really make the most of them. It might be huge bay windows towards the front which overlook a park, a large conservatory that needs some work to make it shine, or a huge area of garden that needs TLC. You might want to bring in specialist help at this stage, be it an architect for structural renovations, or an interior decorator to give you tips on how to boost the interior space with colour or furniture.
Buyers these days fall in love with original and unique features of a property in contrast to the clinical style of modern new builds. They can be a real selling point when it goes on the market, and you have a variety of options. You can opt to restore the original work such as tiling around a fireplace, or you can do your best to match it with an alternative modern design, for example cornicing. If you have taken on a period property or grade listed, then you will have to bring in the local consultants to see what you can and cannot do to the property, for example adding PVC windows to replace existing wood single panes.
Before you undertake major interior design changes, consider the property as a whole. Will it make the space work better if you remove a wall to open it up? Is that wall load bearing and can it even be removed? At this stage bring in a structural engineer who will perform an assessment and let you know the best course of action. It helps to sit down with the blueprints and copies of them to see what potential your property really has when you start taking down walls, changing the position of doors and even building new staircases.
The kerb appeal of a property is a major selling factor, and you can use a variety of tricks and techniques that can really boost the aesthetic appeal of a property whatever kind of budget you have to play with. Cracks on the exterior can be filled and painted over, or you may opt for a simple pebbledash. Here you can consider what the gardens or driveway add to the property, and if you need to spend part of your budget on landscaping. The changes can be as simple as painting or replacing a boundary fence to provide more privacy, or even just power-washing tiles and brickwork to bring it back to colour.
Old houses tend to have outdated and sometimes dangerous methods of heating, plumbing and electrical circuitry. It’s best to have everything checked out beforehand, even before you consider purchasing, to make sure that you are not going to be stuck with a full house rewire or plumbing that will eat into your renovation budget. A new boiler system is a good idea and it doesn’t cost that much to turn any home into a smart home that will appeal to buyers, with central heating and lighting able to be controlled from a smart phone app.
Sometimes the most important stage, this could involve things such as redecorating and adding accessories to give the place a homely feel. If you are selling the property, you don’t need to go overboard here, and you could even bring your own furniture or hired furniture into the building just so buyers get the impression of what it could look like. Don’t feel the need to buy crockery and everything needed to live in a home, you just need to consider the basics and make the property look presentable to a high standard for viewings.
Do you have a renovation project underway or are considering one in the near future? If so, reach out to our expert team here at Refresh Renovations and we will be more than happy to share our experience and knowledge so you can get the most out of your new passion project!
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If you would like to find out how Refresh Renovations can support you with a high quality, efficient home renovation, get in touch today. Your local Refresh consultant will be happy to meet with you for a free, no obligations consultation.