First Refurbishment:It is not easy to get yourself on that first step of the property ladder. More and more first time buyers are finding themselves in the position of having to purchase property in poor condition at a low price with the understanding of carrying out the work themselves to bring it up to a good standard.
First Refurbishment:This is of course a fantastic way of making that first step but it is not without its dangers. Purchasing any house can be a gamble but a house which you know is in poor shape should be approached with even more caution.
Surveys are expensive and will sometimes provide you with bad news but always bear in mind that information will save you a lot of money in the long term and could mean the difference between whether you will be able to get the project finished or not.
Budget for overspending When looking at a property to do up you will already have a rough understanding of how much you will want to spend and how much money you have put aside for the refurbishment work. Always work on the assumption that you will be over budget by the end of it and allow for a 25-30% overspend if you can but certainly no less than 10%.
Consider the windows There are a lot of things to consider beyond that of which you are prepared to spend. Many people will say that the most rewarding and exciting aspect of refurbishing an old property is the opportunity to design and choose the many different specifications of your new home. French windows are becoming very popular again as a wonderful way of bringing the garden closer to your living space while stripped wood floors remain a remarkably common choice for refurbs. Wooden windows are a timeless and stylish addition as are skylights to make roof spaces more pleasant and habitable.
Keep styles basic If the property is a buy to rent project then it is worth keeping styles and colours as basic and non-specific as possible. What is to your taste might not be to someone else’s. Concentrate on neutral colours and make sure that any additions that you spend money on are practical and not simply stylised aesthetical choices to meet your own tastes. As long as you budget carefully and keep in mind the purpose of your refurb, there is no reason it shouldn’t be an enjoyable process.