Is your property in need of a bit of TLC? Perhaps you're looking to do your first refurbishment project or are a seasoned renovator with a few refurbishment projects under your belt. Whatever the case, a refurbishment project can be both exciting and a touch overwhelming. Here are some essential tips to ensure your project runs smoothly, stays on budget, and delivers profitable results.

 

Assessment and Planning:

  • Evaluate the current condition of the property thoroughly.
  • Identify areas that need improvement and prioritize tasks.
  • Create a detailed plan, including budget, timeline, and resources required.

 

Budgeting:

  • Determine a realistic budget for the refurbishment project.
  • Allocate funds for materials, labor, permits, and unexpected expenses.
  • Consider potential ROI (Return on Investment) for each improvement.

 

Planning and Permissions:

  • Check local building regulations to ensure compliance
  • Obtain the necessary permissions before starting any work to avoid fines or delays.

 

Design and Aesthetics:

  • Decide on the desired aesthetic and design scheme for the property.
  • Choose materials, colours, and finishes that are both appealing and durable.
  • Consider the target market and current design trends.

 

Project Management

  • Hire reliable contractors and oversee their work closely.
  • Communicate regularly with the project team to address any issues or concerns.
  • Monitor progress against the timeline and make adjustments as needed.

 

Top Quality of Workmanship:

  • Prioritise quality over speed to ensure long-term satisfaction for tenants or buyers.
  • Inspect work at various stages to catch any mistakes or defects early on.
  • Use reputable suppliers and contractors with a track record of delivering high-quality results

 

Marketing and Promotion:

  • Take professional photographs of the refurbished property to showcase its features.
  • Highlight the improvements and key selling points in marketing materials.
  • Utilise online listings, social media, and estate agents to attract potential buyers or tenants.

 

At CrowdProperty, we understand the intricacies of light-to-heavy refurbishment projects. Our team is here to provide valuable support and insights from application to completion, ensuring your project is a success.

Are you ready to take the next step? Apply for funding in just five minutes and get an instant Decision in Principle* today.

*Instant DIPs will not be issued for projects where the loan amount is greater than £3.5m (or £3m if bridging), the profit on cost is below 5%, the loan amount is less than £100k, the loan term is greater than 24 months, if any required data is omitted, or the loan type is portfolio acquisition, special situation, planning gain, or project refinance.


06 Jun 2024

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