4 Tips For The Ideal Home Refurbishment
If you’re looking into your next property investment, you may be considering buying with the intention to renovate.
You may be wondering where to start when it comes to planning for a residential refurbishment. The good news is that luxury refurbishment can be an exciting venture that doesn’t have to be too complicated. This article will explore our top 4 tips for your ideal home refurbishment to help you get started.
1. Find a refurbishment project
This is perhaps the hardest part of your refurbishment project – properties in need of refurbishment are always in high demand. Cash buyers tend to have a greater advantage when it comes to securing a refurbishment property.
Properties in need of refurbishment are usually sold at auction or within a sealed best and final offer system. It’s best to get to grips with this first to put yourself in the best position and secure a property for a great price.
2. Refurbishment project checklist
Not all refurbishment projects are going to be straightforward, and it’s important to consider that some residential refurbishments will just require too much work. Before you take on a refurbishment property, consider the following questions.
- Is there enough room to extend? What kind of extension does the property require?
- Have a look at neighbouring properties and enquire whether their planning permission was granted for a project similar to what you intend.
- Is the house in the most appropriate location for you or your business?
- How much are the house prices in the area you are investing in?
- How much value will your residential refurbishment add to the property?
- Consider commissioning an architect to take a look at the project beforehand to see if your design is feasible. At Clarks Construction Ltd, we collaborate with first-class architects and designers so they can provide their professional opinion and create your perfect plan.
It’s important to note that refurbishment is essentially the process of returning a building to its original state. On the other hand, remodelling is the alteration of a building, either through modernisation or extension work.
3. Make a comprehensive budget plan
Even if the sky’s the limit for your refurbishment expenses, it’s useful to have a budget throughout your construction process. Costs to factor in can include:
- Reconnection fees. (There’s often a cost for reconnecting water and electricity supplies to your property).
- Valuation fees.
- Council tax.
- Professional fees. This includes planning permission and Building Regulations approval, a variety of surveys, structural engineering reports, and any other professional fees.
- Contingency fund.
- Legal costs – you can expect to pay between £500 and £2000 for a solicitor or conveyancer to act on your behalf.
Carry out an appropriate building survey
The right building survey needs to be carried out in order to flag up any potential issues with the property before you commit to putting in an offer. If the buyer consents, it is even possible to request a survey before you put an offer in.
Things to look out for in a survey include:
- Damp
- Rot
- Pest infestation
- Drainage problems
- Subsidence
This will make you aware of any issues with the property going forward. The survey can also give you an insight into how much you can barter with the price as it will provide an estimate of the cost of repairs. Above all, the property needs to be habitable.
How Clarks Construction can help
If you are planning to renovate a residential property, it can be difficult knowing where to start.
Here at Clarks Construction Ltd, we specialise in both residential and commercial property refurbishments, including extensions and new builds. We have an acute eye for detail and can help you from project concept to construction, all the way to completion.
We make sure that all your needs are met. Contact us today to find out how we can help you with your next luxury refurbishment project.
