Have you decided to renovate your home and you’re wondering where to start? We’ve compiled our most frequently asked questions into one blog post to answer what’s on everyone’s minds. From the average cost to renovate your home to the recommended timeline of your project, we’ve got you covered.
If you’re currently in the process of — or considering — renovating your house, you’re not alone. Recent research by Halifax Insurance found that planning applications have risen by a quarter in the last five years. And we can see why — investing in your home will give you long-term satisfaction, as your home is likely to be the biggest purchase you’ll ever make. It might be that you’re renovating your house because you plan to sell — doing so can also massively increase your chances of a sale and boost your profits.
However, undertaking a home renovation project can seem like an overwhelming commitment and it’s not uncommon for people to put off starting the process. Factors like cost, timeline and organisation all contribute to the final decision. This blog post sheds some light on these crucial topics and common concerns so that you can get ready to take on your home renovation knowing everything you need to.
The cost of a house renovation is one of the first things to consider, as this will give you a good indication as to whether your plans are financially feasible. This is why we’ve previously talked about this topic in depth on our site. There will always be a variation in project pricing, which is why we offer our customers a free quote tailored to their individual plans.
The average UK homeowner will spend £23,000 renovating their home. However, you can expect your budget to dramatically increase if you are a recent homebuyer, with this figure almost doubling to £42,219.
However, home renovation costs in the UK aren’t always that simple. In Europe, construction costs vary, as there is no standardised fee for this industry, and this is even more so in the UK, where local costs of construction will determine the affordability of your project. You can check out this handy cost map from European Construction Costs to get an idea of what you might be charged in your area.
Research by ONS shows that alterations and improvements equate to 14% of total housing costs. Even though this is the case, you need to have the budget to cover these additional fees because you will have to take out a specialist renovation mortgage if you want to borrow over 90% of the sale price.
Of course, to make the job cheaper, you can opt to undertake the renovation yourself. It’s impressive what you can do for £5,000, as this renovation demonstrates. Bear in mind, though, that damage done by unqualified individuals can end up costing a considerable amount more than the original job would have in the long run. If your DIY knowledge is, at best, basic, it’s always advisable to hire a professional.
If you want to make some noticeable changes to your property, but you don’t have the cash, there are a few approaches that you can take:
There are plenty of things that you can do without getting into any structural work. Whether this is refreshing your kitchen tiling or upholstering old furniture, these activities can breathe new life into your home. Ideal Home has put together a list of 20 quick fixes you can delve straight into.
Note: The downside of this is that this will not fix your home over the long term. If your renovation plan entails work involving health and safety, this isn’t the route for you.
Focus on the big things
Tackling the priority pieces of your property first is a great way to begin a long-term investment in your building. Paying for a singular job, such as a structural alteration to give you more living space or solar panel installation for a long-term financial benefit, is well worth it.
Note: If you’re looking for flashy design and a complete upgrade of your abode, you’ll end up disappointed, so bear in mind that this approach is for larger upgrades as part of a long-term plan.
If you’re renovating your house in the hope of making a profit, this is a completely different ball game. There are two main reasons that you might be looking to cash in from your property. The most obvious is that you’re getting ready to sell your house and upgrade to a new home. However, some people can make money from restoring and maintaining heritage homes by charging visitation and venue fees.
Looking to sell your house for more money? Make a list of what is important to the buyer — not you. In this case, you don’t want to install elaborate balcony systems (although they are well-suited for a personal upgrade). Instead, increasing the amount of living space with a loft conversion will increase your home’s appeal to prospective buyers.
Do you want to make money from a heritage property? There are plenty of ways to make money from old buildings if they are deemed safe enough for public use. This is why you might need restorative work done by specialists in the field. The first step to undertake is a comprehensive building survey. Heritage homes are made from different types of materials and require an expert eye. Renovating a heritage building can ultimately yield big returns, as they have intrinsic value and work well if they house new businesses.
For what can feel like a momentous task, it’s useful to have a clear idea about where to start first. Although each project plan will vary slightly depending on your budget and your building requirements, there are some key steps that are essential in all renovation work.
Bonus Tip: If you’re still on the fence about renovating your house, you can check out home renovation ideas on Pinterest to get some inspiration.
Deciding on your budget will give you a realistic idea about what you can and can’t afford. After gaining a professional quote, you will know exactly what the scope of your project is (which will also give you an indication of the timeline).
More than likely, you will have to fork out for an initial building survey so that qualified tradesmen can assess the level of work that needs to be done. If you are investing in a large-scale project, you might also need to ask for planning permission, which can take several months to be approved.
Before you commit to any long-term work, make sure that the provider offers a comprehensive guarantee so that the finished project is protected by a warranty period. Our roofing work is backed by a 10-year insurance guarantee supplied by Competent Roofer.
In our recent blog post, we talked about the importance of a renovation checklist in heritage home renovation. This tactic is no different in a regular renovation, as the same principle applies. This can act as a schedule of events for all parties to adhere to so that you have a firm grasp on the development of the project.
It will also help you to stay on track with your budget — by checking each task off step-by-step, you will be more aware of the total cost. If something unexpected is added to the workload, it will show up as a red flag immediately, signalling an additional cost to come out of your contingency budget.
Finally, many people ask “how long does it take to renovate a house?” The answer, unfortunately, isn’t so clear-cut. Your project plan is personal to you and your build. We suggest developing a renovation timeline with your contractor, architect and anybody else you hire throughout the process to get a clear idea of how long it will be until you can enjoy your new pad.
If you’re looking to renovate your house, contact us to get a free quote from a member of our expert team. We can provide guidance on a range of professional renovation services to develop a project that suits you.