If you’ve been inspired by one of the myriad property shows on television that show how people buy homes that are run down before doing them up to achieve a profit, you’ll be aware of how much work is necessary to make the property ready. Whilst this can be tough, it’s good to have a strategy.
Step One: making the exterior secure.
The first job to be taken on when renovating your house, property is to ensure that the exterior is secure. It’s no good investing time and money on refurbishing and redecorating a property if trespassers and opportunists can gain easy access when you’re not around. A quick scout of the property can show you exactly what is required; whether a new door, new window locks, or an engineer is needed to perform shutter repairs on your garage, it is necessary to get these done quickly. Obviously, if you are unable to get the correct part straight away, finding another way to secure the windows and doors is paramount; anything to make your property look less derelict and less of an easy target.
Step two: structural changes.
Before a single paintbrush is wielded in anger, it is worth looking at whether any structural changes are needed or wanted within the property. This could be something cosmetic, such as touching up chipped or otherwise damaged plastering, which could take as little as a couple of days, or far more technical work, such as the removal of walls or installation of a loft extension.
Any jobs that you wish to do in this manner will need to be carefully budgeted for, against what you are expecting to achieve from the sale or rent of the property. There is little point spending thousands of pounds on improvements to a property if they are unlikely to add at least the amount spent onto the resale value. Ideally, the money spent should represent the absolute minimum price you expect to achieve.
One job that is definitely worth doing is relocating the bathroom if it is currently situated on the ground floor. This is far less desirable to people looking to buy or rent a property and would therefore be money well spent.
Step three: decoration.
Once your heavy structural work has been completed, it is time to begin the decoration. Whether you aim to sell or rent your investment, it is wise to choose neutral shades throughout. These allow viewers to project their own ideas onto rooms, giving them the scope to visualise their own furniture in the rooms and putting their own stamp on areas. Bold colours within rooms tend to be off-putting, unless the viewer shares your taste exactly.
This sequence of jobs is by no means exhaustive, as the condition of properties available cheaply to investors can vary dramatically. The first job should always be to make safe the exterior of the property, so issues such as shutter repairs and window lock replacement should always top the list.
Rob Jewell writes articles on home decorating and renovation as well as 24 hr emergency shutter repairs for a range of websites. When he is not writing, Rob can often be found watching countless episodes of Dora the Explorer with his young daughter.