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Property renovation to sell

Is there anyone who is/ are doing property renovation: - know how to go about doing this? - picking out potential and having a nose for it? -is there guide for doing this?

Asked on Feb 25 2010, Home Improvement in Solihull | Report content

Answers (1)

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  • Property renovation for profit is an extremely precarious trade particularly for the amateur, misguided by quick buck turn around TV programs, where most have profiteered by a rising market only. First you have to find a property which is priced as such that after works carried out, buying, selling and ownership costs are added there is still a margin for profit which in itself is a small miracle. The amateur then has to establish what works are essential and which are profitable, source trades and supplies to carry them out and ensure that all works is co ordinate, you don’t want the electrician turning up after the walls have been plastered!!! Timing is also essential as you don’t want a property newly refurbished property sitting empty over the quiet Christmas housing market whilst you’re still paying a mortgage on it. Notwithstanding in my opinion the most profitable projects are tired family homes, where a quick re carpet, redecorate and may be a cheap kitchen & bathroom will add thousands, but as I said make sure you factor in the buying and selling costs which are also thousands and a slight dip in the market can wipe out any profit.

    Answered on Mar 13 2010, Report content

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