From turning a property into your own dream home, to upgrading the aesthetic and value of a property ready to rent out or sell on, renovation is fast become a popular form of investment for homeowners. But does that mean it’s easy? Absolutely not.
Renovating a home can, and often does, lead to a multitude of challenges and obstacles to overcome – and we’re here to help. This article is all about how to become a successful renovator with tips from inside the industry itself.
Have a vision…
The second you step foot into the property you intend to renovate, ideas will start to spring to mind for what you could do and how it could look. Having a vision is important and will help you to stay on track when it comes to making decisions – both big and small – regarding the build and design of your property. However,…
… But be willing to adapt
Not everything will fit neatly into that early vision you have for your project, and so being flexible and willing to adapt is key to both the success of the project and the retention of your sanity. Some of the best ideas you will come across may come from interior magazines, social media feeds, and online articles from established renovators – but just because you love an idea, that doesn’t mean it will necessarily work in your property. Have expectations but remains grounded in realism.
Don’t get too caught up in trends
You know what they say – fashion is fleeting but style is forever.
Trends go in and out of fashion all the time, and something that is popular on the property and rental market now could quickly fall out of favour with potential buyers and tenants. This isn’t just a small obstacle – if you choose to make a structural or integral design decision based on trend, you could find that this lowers the value of your property in the long run, so be cautious when it comes to big decisions and keep your property neutral for the benefit of long term investment.
Set a budget – and stick to it
Knowing how much you can and are willing to spend on each area of your renovation is key, and that’s why we recommend not only having an overall budget for the project but assigning each part of the overall renovation its own smaller budget. Yes, you will likely go over and fall under your budget at times but knowing the space you have to move within your overall budget is an important part of keeping your project on track.
Take it slow
You might find that you can only afford or have the time to renovate one area of the property at a time, and this calls for prioritisation as well as the ability to take it slow and avoid rushing the project. Choose which rooms and which parts of the project need urgent attention and start there, working with the structural requirements first before moving into aesthetic and design details.
Beware of unknown and unexpected costs
From the addition of VAT to services and products, to extra fees for specific services which may take longer than expected, all the way through to surveys on the property, being aware of potential unexpected costs is important to keep your renovation on budget and on time. Have an extra pot for emergencies like this, and make sure to check the small print before agreeing to any service or product purchase.
Know where you will live during the renovation
You may well be able to stay onsite during some parts of the build and renovation process, but there will likely be times when windows need to be fitted or plumbing and electrics need to be adjusted, and so the property will become inhospitable for a period of time. Having somewhere you can stay at short notice is a key part of being a successful renovator, whether it’s with a friend or family member, or another property you own.
Call in the experts
Finally, know when you can DIY and when calling an expert is the best way forward. A renovation project will almost always present more work than you first anticipated, and so having a reputable construction company you can call on for help is the best way to combat bigger challenges and keep your project on track.
For advice and to see how we could help support your next renovation project, get in touch with our team.