Refurbishing a Property for Profit

If you are planning to sell or let your property, do not think that refurbishing it will be waste of money. Renovating a property can actually add value which can be turned in to profit when you come to sell or rent it out. However the updates have to be done carefully and cleverly, it is not as simple as painting the walls and waiting for the profits to come rolling in. The renovations have to add something special to the home that brings real value over time to those living in it. Below is some advice to help you successfully refurbish a property for profit.

  • Research as much as you can before beginning the design and refurbishment plans. Find out information about the current market, trends, local area, target audience and ideas to add value.
  • Get an estimate from the contractors or a professional valuer to give you a quotation on how much the work will cost. This helps to establish a budget and ensure it will cover the whole refurbishment without coming in to financial difficulty.
  • Try to ignore your personal tastes and stay more impartial. To make money with refurbishments, the decor needs to be trendy, in line with the target audience and neutral.
  • Upgrades need to be good quality but not necessarily expensive. For example, handmade kitchens Sussex may be a better option than a more costly designer kitchen as it suits more tastes and is top quality.

 

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