How can I understand how much renovation costs?

propertyhunter

Everything costs a lot more now than before, mainly because labour costs are high. Material costs have fallen. 'Average prices' of anything are just that - average - your house might need new heating, plumbing, roof - and that might be higher than average. Your might want to extend it, in which case you're looking at 2,500-3,000 + VAT per sq m for the shell. I think once you offer and get the sense of costs to renovate, that will help you make a decision whether to proceed with that house, and if not, inform the houses you want to view in future. Or you might compromise and decide to change area to lower the initial house price, and bump up your renovation budget. 

RHemmings

propertyhunter said:

Everything costs a lot more now than before, mainly because labour costs are high. Material costs have fallen. 'Average prices' of anything are just that - average - your house might need new heating, plumbing, roof - and that might be higher than average. Your might want to extend it, in which case you're looking at 2,500-3,000 + VAT per sq m for the shell. I think once you offer and get the sense of costs to renovate, that will help you make a decision whether to proceed with that house, and if not, inform the houses you want to view in future. Or you might compromise and decide to change area to lower the initial house price, and bump up your renovation budget. 

Thank you.

I think from all the information given here in your post and others, that I simply shouldn't buy a fixer upper. I don't need to change the area to get a house that doesn't need renovation. All I need to do is wait. Houses suitable for me in good condition and at a good price are out there. Just that there aren't many of them. 

Martico

I bought a doer-upper with little previous renovation experience, BUT I was keen to learn and do things myself that I felt comfortable with. I learned a lot from friends, trades that I brought in to do some parts that were beyond me, and lots of YouTube. My house now is imperfect, perfectly good, but most importantly I feel a real sense of ownership, it really is mine. Grown-up things like electrics, gas, boiler etc, plastering of rooms that visitors will see, I got people in. Other stuff, I did myself - floors, sanding, woodwork, decoration, etc. You need time, patience, curiosity and you still need money, of course. But it's great fun. 

RHemmings

Martico said:

I bought a doer-upper with little previous renovation experience, BUT I was keen to learn and do things myself that I felt comfortable with. I learned a lot from friends, trades that I brought in to do some parts that were beyond me, and lots of YouTube. My house now is imperfect, perfectly good, but most importantly I feel a real sense of ownership, it really is mine. Grown-up things like electrics, gas, boiler etc, plastering of rooms that visitors will see, I got people in. Other stuff, I did myself - floors, sanding, woodwork, decoration, etc. You need time, patience, curiosity and you still need money, of course. But it's great fun. 

I can imagine how much fun it is, and how proud you must feel of your achievement. But, I grew up in a house that wasn't ever quite finished because of plans to finish it DIY. And, I think that I personally would fall into the same trap. Maybe when I buy a house, I can try putting a pond in or something similar to that. That would give me a sense of achievement while not biting off more than I can chew. 

TheJP

RHemmings said:

propertyhunter said:

You should get a builder in after you've had an offer accepted and get a sense of the costs to do what you'd like to do. Yes it might cost you a little to get the sense of ball park costs,  but it will allow you to go into something with your eyes open, or back out because it'll be too expensive. These days, with building costs so high, it might be more cost-effective to buy a house that needs only minor cosmetic work, rather than a do-er upper. You'll only know what compromise to make when you see the property. 

Oh, I see. That works. I offer on a place that needs work conditional on getting a builder in and a quote for work that needs to be done. I then get the builder's quote. And, if it's acceptable I go ahead. And if not, I rescind the offer. 

That makes a lot of sense. However, I've just found this website:

https://www.checkatrade.com/blog/cost-guides/cost-renovating-house/

which says that the average price of renovating a three bedroom house is £76,900. That is a lot more than I expected. It's useful to see all the typical prices for individual improvements, however. 

In essence yes but in todays market builders/trades are in high demand and unless you own the house are unlikely to give up time to come and quote for a property you don't own. If they have the time may add a charge for the time.

I would recommend figuring out what the dimensions are, your expectations and what raw things you want doing such as new electrics, plasterboard etc. As someone else said times the quote by 3 and double the timescale. There is no hard and fast answer to your question. You wont even know yourself until you have the keys and the work starts.

RHemmings

TheJP said:

I would recommend figuring out what the dimensions are, your expectations and what raw things you want doing such as new electrics, plasterboard etc. As someone else said times the quote by 3 and double the timescale. There is no hard and fast answer to your question. You wont even know yourself until you have the keys and the work starts.

I'm now adding a bigger estimate to the fixer uppers than I was before, and they are no longer attractive options. There are plenty of liveable kitchens and gardens already, and unless I do the work myself (which I will not) it doesn't work out. Thanks. 

deannagone

If you buy a place that is basically liveable even if it looks ugly, you don't have to get it all done at once, you can do a room at a time or even less.

I had to learn how to do DIY to a good standard because I couldn't afford to get trades in (and to be honest, the people I have come across didn't seem overly trustworthy or skilled).  Youtube is second to none for learning DIY skills, although I recommend you look at two or three for each job because quite often there is something they miss out for the uninitiated, and sometimes it is bad advice.  You watch three of them, you'll pick up what is a good idea and what isn't.  However, I don't touch plumbing or electrics but have put in kitchens, built a built in wardrobe, made awful walls smooth, put a bathroom in (with help with the plumbing), decorated lots and you learn as you go along.  I do things slowly, making sure I know exactly what I need to do before I start.  But a house isn't going to vanish, it'll wait for you to do things.  Oh and don't ever steam wallpaper off walls, the slightest hint of weak plaster and it'll blast a hole in the wall (that only happens to you once lol). Applying cold water is just as quick.

Get a good survey so you stand a chance of spotting expensive repairs that are needed.

You will usually cut the cost of renovations at least by half.  Its actually enjoyable, nothing like looking at the work and knowing you did it.  If you look on ebay you can see wonderful kitchens for a fraction of the cost that new installations would cost.  Its a very good way of being MSE!

BellaBlondykeTheThird

I probably wouldn't even think of a renovation project with no previous experience or little DIY skills.

Sounds like a recipe for complete disaster and financial ruin.

ebodman1985

I got five different quotes before we began our renovation. I didn't opt for the cheapest option. Instead, I opted for what I thought was the most reliable and accurate option. Even with all that ground work and careful planning, we blew the budget by more than 10%. If I were to do it again, I'd double the budget and lower my expectations, so at least I'd be pleasantly surprised when the final bill came in!

gwynlas

A lot depends on the age of the house as to what you might need to have done straight away. Houses built in the 1990's might appear very dated now due to changes in taste but require little more than cosmetic work whilst houses of an older era might require a new roof, plumbing, heating  electrics and plastering. If it as a working kitchen and bathroom you can live there and have work done gradually whilst extensive refurbishments involve the whole house and living on a building site until works completed. Also bear in mind that builders can work quicker in an empty house where they do not need to reinstate working services each day