Planning ahead for some property renovations?

The current lockdown is providing many homeowners with the chance to undertake decorations and renovations.

In the past week alone we've heard about how many families have got the paint out to refresh a living room or some more radical exterior repairs.

This might well be triggering many of us to think past the current restrictions to when you might undertake some more radical property renovations.

But there is a lot to think about before committing to such work.

In conjunction with the Guild of Property Professionals, here we look at the top five things you should consider before you renovate.

1. Fail to prepare, prepare to fail 

Renovations are daunting, and so creating your own detailed schedule, with sections for each room e.g. ‘loft conversion’ will help massively. In each section, write time frames and assign job roles to ensure no jobs overlap or conflict with each other. 

When working on a big task, it’s always easier to take it one step at a time to avoid becoming overwhelmed. Without a detailed plan of action, the whole process becomes hectic and stressful. It’s normal to miss deadlines, but do your best to make a schedule and stick to it!

2. Budget for additional costs

Home renovation projects are never simple and rarely go exactly to plan. You will save yourself a lot of time and energy by pre-empting these potential pitfalls along the way. For example, old buildings will most likely require new electrics. 

According to Homebuilding & Renovating, rewiring a typical three-bedroom terrace measuring around 100m² will cost between £2,500-£3,000, adding a modern heating system to a typical house will cost around £2,500-5,000 and a new roof can cost about £2,000-£3,000 for a typical three-bedroom house.

3. Write everything down

Whether it’s measurements of each space, who is responsible for what role, or your expenditure, make sure you write it all down and keep it with you – even if it’s in your notes in your phone. This will help avoid any confusion or mishaps along the way.

4. Who are you renovating for? 

People renovate for different reasons, whether it is to increase the value of your property, restore an old or derelict property or enhance your return on investment, everyone has their own goal in mind. Renovating for you and your family to live in the home, to rent your property or to sell your home, tailor the renovation to meet your goal. However, even if you are renovating for yourself, think long-term and make sure that the decisions you make will not have a negative impact when you eventually decide to sell your home. 

5. Be realistic

Nothing ever goes perfectly, and renovation deadlines are almost always extended. Remember that you can’t rely on everyone all the time and you’re probably going to go over budget. It’s all worth it in the end though, and if you remain realistic with your expectations and vision, you’ll be on the path to success.

The team here at Morris, Marshall and Poole with Norman Lloyd are still here to talk about your residential, commercial or lettings property needs. You can telephone or email us using the details on our website and we'll do all we can to help.