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Showing results for tags 'cost of renovating'.
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Cost of refurb for a 2 bed flat in Croydon
Charl3s posted a topic in Refurbs & DevelopingHi Guys, I’m just in the process of purchasing my first property, it is a repossessed 2 bedroom flat so is in need of modernisation. I would say the flat needs a full refurb which would include a new kitchen, bathroom, redecorating, flooring and a new boiler. The surveyor said the electrics and plumbing seem to be fine but may need changing in the near future, so I was thinking to get this down whilst I’m changing everything else. I just wanted to know how much would something like this cost to be done at a good level. In my head I’ve budgeted for about £20k - £25k. Would be great to get some realistic cost from those who have done this type of work. Also if you know any good trades people that could do the job I would really appreciate it if you could forward me their details. I’m based in Croydon. I have attached the floor plan so you can get an idea of the size. You Thanks Charles
How to estimate the cost of a renovation
Charles Pell posted a topic in Flips & RenovationsHi all, I am about to embark on my first property renovation (yay?!?). So far I have made a few offers, and missed all of them. I have a profit margin I hope to achieve of 15% minimum. In order to hope to meet this target, I imagine it pays to have a pretty accurate idea of what a property might cost. I have made attempts to try and price jobs up based on a variety of sources, but I don’t feel comfortable doing it since I have no idea whether my estimates are too high or too low, and I don’t know even whether some of the jobs I am allowing for need doing, or whether I haven’t accounted for certain jobs that would need doing. I have started to wonder whether I should get a professional to do this side of things, allowing me an insight into how a professional would go about it. So my first question is this; should I ask a professional to do it, or would it be better to jump right in and make my own crude estimate, and learn from the mistakes I will inevitably make. (Part of what puts me off doing it myself is that I could be drastically overestimating the cost of a job and therefore not offering enough for a property). The second question: If I was to go down the route of asking a professional in to make an accurate estimate, what kind of professional should I ask? I have read in a book specifically on property renovation that you can get contractors to do it, or quantity surveyors. I don’t know who to approach basically. I look forward to reading what anyone has to say :) Charles