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‘To help you assess the potential of a property, you need to ask yourself how you can improve on what’s already there,’ says Natalie Mitchell. ‘Is it possible to add space through an extending a house or loft conversion? Or can the inside be opened up to improve the living space? Bathrooms and kitchens are the rooms that sell a home. So, if there’s potential to add an extra bathroom or open up a small kitchen, then that’s where you’ll add the most value.’
But how do you make sure you don't get lumped with a money pit when it comes to home renovation? Before purchasing, always get a survey conducted to check the state of the property. This will be carried out by a member of the Royal Institute of Chartered Surveyors (RICS) who will feedback on what repairs need doing, and from there you can estimate the associated costs.
However, before you even consider making an offer (or perhaps before you even consider booking a viewing) there are a few things the untrained eye should look out for:
The old saying goes that you should look for the worst house on the best street, and it is great advice for anyone looking for a renovation bargain. No matter how amazing you make the property, it can only be as good as the area it is in, so check local amenities, schools and provision of green space. A Google Street View stroll down the street will give you a feel for the place and highlight anything untoward.
‘Although you have to spend money to make money, there’s a limit to what you should sink into a fixer-upper,’ says Natalie. ‘So, always check the ceiling price of the road your potential home is on.’
You can check how much similar properties nearby have sold for on Rightmove and Zoopla. This will give you an idea of the maximum value of the home you are looking at, so you know what your return on investment will be post home renovation. Just ensure you look at a like-for-like house – obviously, a five-bedroom property will fetch more than a three!
Repairing a roof, for example, could set you back a few grand so check for missing/damaged roof tiles or signs of bowing timbers. Missing tiles could also mean trouble inside if water has leaked through. Windows will add considerably to your renovation budget, too. You may want to upgrade single glazing to double, reducing heat loss and running costs in the process. But be mindful of maintaining characterful period windows if you can.
Will your planned changes be in keeping with the rest of the street? Have they made improvements to their homes that would work on yours? Finally, are the homes well maintained, showing that everyone takes pride in their properties?
If the house is not big enough for your needs consider how you could change it to rectify that. You might be able to easily convert existing space such as the garage or the loft. ‘Loft conversions and garage conversions are probably the easiest way to add both additional living space to your home and increase its value,’ says Ian McConville, group procurement director, MKM. ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.’
Alternatively, the garden may be large enough to have room for a rear extension while leaving a sizeable outside space to enjoy. Again, look at neighbouring properties for an indication of what may be possible.
Note that there are ways to cut the cost of an extension and cheap extension ideas can still achieve great results, but do always bear ceiling value (see above) in mind.
There is so much you can do to improve a home, but if the cost of this is going to be very high and limit your ROI (return on investment) it might not be the property for you. Instead look for something that is closer to what you need in terms of size and layout.
This doesn't have to be a dealbreaker, but should the house need completely rewiring and/or central heating installed you will be looking at another £3,000 to £5,000 for each job, for the average three-bedroom home. Upgrading electrics in an old home can be required if there’s an old-fashioned fuse box with ceramic fuses and cast iron switches; surface-mounted cabling; black or fabric cables; Bakelite switches and old fashioned sockets.
‘If you’re buying a renovation project, it’s worth taking an expert, such as a builder or architect, with you on a viewing to get an idea of costs, which you can then reflect in the offer you make,’ says expert renovator Michael Holmes.
a cosy country living room with two windows, a grey sofa with beige and green pillows, a brick fireplace and an armchair with a tartan blanket
What order do you renovate a house in? Once you've found and purchased a suitable house renovation project, you need to ensure that you follow the correct sequence of house renovation works, for the best possible results. Use our checklist to make the best choices.
Over the years, many period homes have been stripped of the things that make them charming. Beams are covered up, beautiful original windows replaced, and original fireplaces swapped for electric alternatives. It is sad to see homes that have lost all of their character, but before you go about ‘restoring’ period features, remember it can be equally damaging to a home’s heritage to install what would not have been there in the first place – so do some research.
‘Some local authorities apply special control in conservation areas, specifically on building features such as windows and doors, and any unauthorised work is a criminal offence, so you need to be really careful,’ cautions Rachael Munby from Anglian Home Improvements. ‘If your home is a listed building or it’s in a conservation area, you will need planning permission to repair or replace your windows and doors.’
Get to know your home and the age it was built in. ‘Don't add a Victorian fireplace to a 1930s house,’ says Jonathan Rolande. Think, too, about the kind of people who would have lived there – the average workers’ terraces would not have had the regalia of a Georgian townhouse, so don’t shoehorn in ornate plaster mouldings and intricately carved fireplaces.
Spiral Staircase InstallThe best approach is to repair existing features, make the house dry and safe, and undo any well intentioned mistakes that could affect the condition of the building (such as breathable stone walls covered in impermeable waterproof coatings that cause damp).
Before taking on the property, you should thoroughly research costs and budget to check that the project is financially viable. But once you have taken possession, have a good look around and properly assess the extent of the works, so you can get a detailed financial schedule in place.
Some mortgage lenders will help you fund your renovation project and offer the money in staged payments. If you are going down this route, find out what those stages are and work out by when you will have each step of the renovation finished.
In other cases, you need to be realistic about what work you can afford to do and when. If the property is not in a habitable state, your first priority should be to make it safe and dry, with hot water and heating, so that you can move in – especially if you are spending money to live elsewhere while the work goes on. Avoid moving in until major works are out of the way, but you can live among cosmetic alterations as long as you have finished rooms in which to cook, wash and sleep.
And if your property is in good shape but not quite as you'd like it, know that it is possible to do a no-demolition renovation.
Property developer and TV presenter Sarah Beeny says it’s crucial to decide exactly how much you have to spend. ‘Rule number one is make a budget and stick to it,’ she says. Work out costs for each room, factoring in everything from structural work, such as underpinning, to finishing touches, then add it all up to see if you can afford it.
If a contractor is helping you with your project they have to give you a clear quote, which will help you with your budget. It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes.
If a contractor is helping you with your project they have to give you a clear quote, which will help you with your budget. It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes.
‘We often work with clients embarking on large renovation projects and one crucial piece of advice when it comes to drawing up a budget is to make sure that you have a good contingency available,’ says Katy Esdon, a director at Esdon Architecture. ‘There are unknowns when opening up old buildings which are not always apparent during the tender process and can end up requiring attention.
‘Several years ago we worked on a renovation where a well was discovered beneath a kitchen floor. The clients were not aware of its existence before works started and so any repairs to it did not feature in the original tender/budget. The well needed some remedial work and ended up being glassed over and becoming a feature in the floor of the new kitchen.’
You will also need to create a separate budget for decorating and furnishing the home once structural work is completed.
If you are deciding just how to transform your home within your budget, check out the Real Homes Show for endless inspiration.
It should have been made apparent to you at the point of sale if your home is listed, but if you are unsure, you must check, as it is a criminal offence to carry out unauthorised work to a listed home. Many buildings built around 1840 or earlier are likely to be listed – and over half a million in the UK are. You can check if your home is listed at British Listed Buildings and if it is, you will need to gain Listed Building Consent for alterations. Often, adjusting the house's exterior design can be complicated with a listed property. Even painting a listed home with plastic paint or using gypsum plasters is unauthorised, so always check before you start any kind of work.
A home located in a conservation area has another protective status that can affect work to it. Restrictions in conservation areas generally affect only the exterior of the property as the intention is to ‘preserve or enhance the character or appearance’ of an area, but your permitted development rights (works that you can usually do without planning permission) will be affected, meaning you may require planning consent for works that are authorised elsewhere.
Be aware of the rules on thermal efficiency, too. ‘The new Part L changes to building regulations, which aim to improve the thermal efficiency of homes in the UK, affect the products that can be used in new builds and renovations, including doors and windows,’ explains Victoria Brocklesby, COO at Origin. ‘This means that homeowners need to be eagle-eyed when choosing replacement glazing for their homes.
‘The updated regulations include new standards for U-values, which measure how easily heat is transferred through a material or product. One shortcut that some manufacturers are taking to meet these new lower U-value thresholds is to only offer triple glazing. However, this method makes glazing more expensive and much heavier, so products like bifold doors or sliders can become more difficult to operate.
‘Instead, I’d recommend looking for manufacturers that have achieved these lower U-values in other ways. For example, by improving the thermal breaks which are used in doors and windows to limit the transfer of energy from inside to outside. Internal changes like this will make products more thermally efficient, without impacting the functionality or aesthetics.‘
