Refurbishing Your Property

Deciding to refurbish a property may one of the biggest financial decision you will make as a property owner, but exactly how to do it depends on the individual, their tastes and their financial standing.

Sorting Out Finances

Before deciding to plough on with house refurbishment it is wise to get your finances in check, in other words set your self a budget, so that you have a money marker – an amount you do not want to exceed. Furthermore, it is also advisable to clear any long standing loans or credit card debts because property refurbishment may mean that you need to borrow more money from the bank and having layers upon layers of debt does not make financial sense.

Discuss and plan out verbally what you want to do with your property with your partner, a friend or a close family member; airing your ideas is a wonderful way of incorporating other points of view, so that if something is missing or alternatively something can be added to your proposed plans, then it can spoken about before proposed plans are put into action.

Write a list of all the materials, furniture and other miscellaneous items that you will be purchasing to refurnish your property and then cost it. When buying the aforementioned attempt to seek out bargains in order to keep the cost down.

Making a Home a ‘Home’

If you are intending of staying in your property after a refurbishment, then make sure the property has been refurbished to your taste, but keep in mind that you may come to sell the property one day. Therefore, it is wise to consider neutral and mellow colours that really accentuate the space and pick furniture that really complements the style of the house.

Making a Business Out of Property Refurbishment

Many property refurbishments are done with the idea of selling on in mind. Very much like ‘Homes Under the Hammer’ properties are purchased at auction, refurbished to a reasonable or high standard and then sold on or rented. If you are considering taking property refurbishment up as a main or second job then make sure you do your homework before plunging in and buying a property. Consider the financial outlay, the amount of time you spend on a property and who will actually be renting or buying it.