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Refurbishment before letting out after sale

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Hey folks!

Before making an investment, I want do my math right and take refurbishment into account when calculating ROI. But I struggle with few things, might be you will be able to help find answers:
1. How do you understand what things needs to be fixed before letting out? How do you make sure that something is not wrong with property (e.g. boiler will not go down in 2 years)? How do you spot things which you believe will improve the ROI and worth doing (e.g. painting a walls might increase rent price by £10...). I don't have any trades / building experience, so it's really hard for me to spot things which are wrong...

2. After you understand what things you want to improve, how do you approach estimation of cost?

3. After you buy a property and it's time to do the the refurb, how do you do it? Do you hire a people or do it yourself?

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If its an old house that hasn’t had a recent refurb then you really need to know your stuff as there are loads of pitfalls. There are some regulations things like mains smoke alarms, gas cert, electrical  etc that you have to do and may or may not be easy/cheap. Then there are things that you should do to avoid having to keep coming back as and when they fail - kitchen/bathroom/drains/etc. Then there are things you may want to do to make the place attractive like paint/carpets. Then you have to look at tailoring things to suit BTL eg hard floors downstairs/carpet upstairs, neutral colors, electric cooker versus gas, low maintenance garden etc. 

Everything will have a cost and if you don’t have a good knowledge around this then you really need to team up with someone who does have this knowledge and ability to do the bulk of the work as hiring 20 different trades is very expensive.

I have both done full refurbs myself but also have a good relationship with a builder who can do 90% of the work and knows who can do the other 10%.

Trades are in demand right now so polenta of scope for getting ripped off.

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