90 Percent of Home-Hunters Would Consider a Fixer-Upper
According to recent research by Rightmove, 90 percent of home-hunters would consider a fixer-upper. That is a property that would require some renovations.
To aid in the project, we’ve enquired of two experts in property with over a decade of experience in the industry from budget to floor plan services who share their experience for creating the ideal renovation home.
Table of Contents
A Sensible Budget
According to Martin Tucker, who runs his own architectural consultancy firm and has for over 25 years, the number one thing to consider would be the total price of the renovation and then work backwards from there. Don’t add things up as you go. Working backwards works far better.
If you’re adding an extension or renovating, you’re going to be looking at £1850 per square metre. Adding in upgrades such as decorating and modifying, may bump that to £1000 per square metre.
Kitchens are even more expensive and may top out from between £10,000 to even as much as £100,000. This will be dependent on the exact specs of the task at hand. Basements are on trend, however, they are even more costly topping out at as much as £3000 per square metre.
Do the Research
Always do the research. There are literally thousands of houses that need to be modernised or renovated. Before you begin, consult local real estate agents regarding the features that the buyers are looking for. That way, they can ensure that the properties are what buyers are looking for and the property will have a better resale value.
Another pitfall that is often found is that people often expect more than they can realistically achieve. A good example is that a semi-detached property has a 45-degree rule wherein they must abide and be conscious of. This is often in the Residential Design Guidelines.
There is an imaginary line that is drawn from a 45-degree angle from the mid-point of the neighbours’ house to their nearest windows and boundary and at no time should any portion of the proposed extension cross that line. However, it’s important to note that that will be dependent on whether or not there is any flexibility. Keep in mind that planning is a vital component to completing renovations. Can this be renovated? Has it already been renovated as far as possible? Is it extendable? Is it in a greenbelt? Does it happen to be located in a conservation area? All of these questions are vital to the answer.
Know What Can and Cannot Be Done
Consider whether or not the property is in the “World Heritage Site”. If so, it’s vital to note that a Georgian house, for example, may have specific features that you cannot change.
Renovating a kitchen and bathroom with a hint of luxury is, of course, a winner. However, don’t neglect the outside of the home. Gardens that are ideal for entertaining friends and family, as well as a patio, sun area, privacy, and even a barbecue area, are all vital components and features to consider regarding a successful renovation.
Don’t Cut Corners
There are many areas where people cut corners, and shouldn’t. It’s better to cut back on the decor or decorating than it is on the building. This can prevent many safety hazards. Don’t compromise. You will get more bang for your buck when you focus on the quality of the building itself.
Make the Most
The main reason to renovate is to personalise the home. When you purchase a property consider whether or not you’re a developer who wishes to make a profit or you’re purchasing it for yourself. Housing prices fluctuate greatly and you’ll want to take this into consideration.
Consider the End Result
Remember, if you’re renovating to sell, that some properties will need curb appeal. Once people are inside they want to see plenty of light and really clean bathrooms and kitchens. You can add in a hint of luxury to make sure that they are winners by focusing on the little details.