Cost of refurbishing flat

dander

If it needs all that doing, it will certainly already be factored in to the asking price. If you're trying to price up how much the flat is worth, then you really need to look at how much similar flats in good condition have sold for (actual selling price, not asking price) and base your calculations on that price and the cost of bringing the flat up to that standard. It will also make a difference how long the property's been on the market for and who's selling it and what their position is - all those things affect how flexible people will be on price.

Refurb costs will of course vary on how much of it you can do yourself and how much you'll get people in to do. Personally I think your husband sounds like he's pretty much in the right place moneywise. I don't think I could get all that done for under £10k and I'm not a big spender/high spec kind of person.

carefullycautious

THank you to everyone who has answered especially baldelectrician who has explained the costs involved and work we had not factored for.

A flat in same road which did not need refurb went for 75,000 as a repo. Others have gone for around the 83,000 mark. At the height they were about 120,000.

I think this is one for the BTL builders or younger people with the energy to take on such a daunting prospect.

Oh well back to the drawing board

fto

baldelectrician wrote: »

Electrics to be rewired and brought up to date £1800-£2300
Back boiler removed and combi boiler installed £2350 (inc other plumbing)
Kitchen removed and refitted £1400-£2400 - depending on size and no of units
Bathroom 3 piece removed and refitted with shower over.£1300 (inc tiling and plastering)
Dreadful polystyrene tiles stuck to all ceilings. £1500 - all ceilings skimmed
Decorating all through £300-£2500 - depending on paint only / wallpaper etc

Total min = £7150
Total max = £12350
There is a big difference, you need to make up your mind at the start and stick to the plan.

The fact the property is a flat may cause problems- concrete ceiings may prevent a rewire (if there is no conduit). The ceilings may require to be lowered, plasterboarded and skimmed.

Concerte floors may mean adding a floating floor for all the cabling and central heating pipes.

Take care when planning the sequence of works as well.

Agree with most of this, but being a upstairs flat, could also make it a lot easier......if it has a floorboards & a loft.

mcjordi

i would agree with the figures qouted

however work a 10% contingincy into the budget for unforseen stuff ie plaster falling off the walls.. rotten timbers and the likes.
also knock some of the offer