Thinking of buying a fixer-upper? Here’s what you should know before starting a renovation project

At Oakwood Property Solicitors, we understand that buying your first home is exciting – especially when you’re eyeing a property with renovation potential.

Whether you’re dreaming of turning a dated house into your ideal home or considering it as an investment, careful planning is key. We share a quick guide to help you get started.

Your renovation journey: Step-by-step

Choose your property wisely
Decide whether to renovate your current home or buy a project property. Many buyers renovate to live in long-term or sell for a profit later.
Start with a survey
Get the property checked for structural integrity. A detailed measured survey helps avoid surprises later down the line.
Set a realistic budget
Consider costs for materials, labour, permissions, and unforeseen issues. Don’t forget to allow a 15–25% buffer for hidden problems.
Get the right permissions
From planning permission to building regulations – ensure you’ are legally covered before work begins.
Plan every detail
Collaborate with an architect or use a detailed renovation checklist to map out everything from layouts to timelines.
Bring in the experts
Hire trusted professionals with good reviews. Getting multiple quotes helps balance cost and quality.
Construction and finish
From demolition and layout changes to finishing touches like painting and lighting, stick to your plan for a stress-free transformation.

Ideas for home renovations

Exterior: New gutters, window replacements, landscaping, or even a summer house.
Interior: Open-plan living, loft conversions, modern kitchens, new flooring, or a cosy fireplace.

Keeping your budget in check

Be realistic about your goals.
Get specific with what you want before work starts.
Don’t skimp on quality, as cutting corners often costs more in the long run.
Always prepare for unexpected costs.

Frequently asked questions

What renovations can increase the value of a house?

One of the most common reasons people choose to renovate their homes is to add value when it comes to selling their property.

Even if you are not planning to move but want to update your home, it may be handy to know what renovations can increase the value of a house.

The following are all great choices:

Redecorating
Repairing old or damaged fittings
Garden tidying and landscaping
Installing a new or revamped kitchen or bathroom
Increasing the home’s energy efficiency
Knocking down walls to make the space open plan
Loft or garage conversion
Adding an extension

How to stay under budget during your renovation

As every renovation is different, setting a budget aside and sticking to it can be a challenge, particularly when there are lots of options to consider, with many unexpected costs likely to arise. Follow these tips to stay under budget.

Be realistic with your aims

It is extremely easy to get caught up in your renovation plans and set your sights on aims that are not realistic or will prove costly.

Be honest with yourself about how far you can stretch your budget, and how you plan on saving for your renovations. Remember, the whole point of having a budget is to feel prepared for your home improvements and to gain an understanding of what you can realistically achieve.

Be specific with what you want

Being specific about the renovations you want will ensure your tradesperson can give a more accurate estimate for the completion of the works.

Budgets tend to go over when rash decisions are made, and not enough thorough planning has been done in the build-up to a job. Having a clear picture of what you want your renovations to look like and clearly outlining these plans with a tradesperson will ensure the job is much more likely to come in on, or even under, budget.

Plan for the unexpected

Even the tightest and simplest budgets will need wiggle room for unforeseen problems. For example, your tradesperson may need to increase the spend by 15% due to unexpected labour costs, which should be considered from the word go.

When there is a job with multiple trades, you should add 25% as a buffer to the total cost to account for any unexpected problems. For example, renovation works often uncover serious maintenance issues that will need to be resolved before the job can be completed.

It is these types of problems that catch homeowners by surprise, blowing the budget in their wake.

How much does a renovation cost?

Here are some average figures to help with planning:

House renovation: £52,175
Extension: £37,500
Loft conversion: £45,000
Project manager: £150/hour
Electrician: £45/hour
Plumber: £50/hour

Remember to always allow extra funds to cover unexpected surprises.