How can I understand how much renovation costs?

BobT36

"Given that I'd seen property developers on YouTube going through pretty bad condition properties and saying that they can fix this up for £10,000-£15,000 by 'getting somebody in'"

Big difference between what you'd do to do things properly, and live in it, to what a builder would do when he gets his cheap mates from the pub round to bodge job it and make it "look" ok, and sell it on. (Not caring it it falls to bits two weeks after selling). 

Murphybear

The first house we bought together was very cheap and the only thing in the kitchen was the kitchen sink  .  It was a cash purchase and we bought it to do up.  Apart from the kitchen it was mainly cosmetic.  My husband rewired it completely (he had the experience and qualifications to do so) and a large part of my job was stripping the wallpaper, mainly woodchip  that is a pain to remove, making tea and cooking meals in the microwave.  We found a local firm to supply a kitchen and they did a brilliant job.  Husband produced a built in wardrobe and some built in bookcases.  Fortunately he is of a very practical bent.    . 

I was working at a local University and when I got a permanent contract we sold the house, only one viewer who loved the kitchen and built in wardrobe and made us an asking price offer on the spot, and bought a bungalow in a tiny village that was stuck in a time warp.  This time it needed a new kitchen and bathroom and when we stripped the living room of its carpet we found a beautiful original wooden floor.

Great memories, we’re a bit too old and creaky to do these things now

Im a bit of a Homes under the hammer fan, it amazes me how much they can get done on what seems like very little money …

BungalowBel

Our 1930s bungalow needed new windows, rewire, replaster and new or repaired floors in most rooms.  Then a new mid-range kitchen.  My husband did some of the work himself.  I think it came to about £12k, this was in 2015 in the Midlands.  

One tip if you do go for a do-er upper, that we found useful ; while the bungalow was empty my husband got a spraygun and sprayed all the walls white.  This was invaluable as we at least had something on the walls and didn't have to decorate straight away.  In fact both the bedrooms are still white.

RHemmings

This is one of the YouTube property developers/flippers who got me thinking that a house could be fully refurbished for less than it appears to cost in reality. 

https://youtu.be/COxQVYYIbTQ

I wasn't aware of this focussed video before, but it gives more actual figures. 

As I was walking past B&Q today, I did ask in their kitchen department. It does seem that by going for the cheapest doors etc. and using MDF + veneer worktops, that costs can be cut. At the price of lower quality. But, before wear, it all looks good. 

FreeBear

RHemmings said: As I was walking past B&Q today, I did ask in their kitchen department. It does seem that by going for the cheapest doors etc. and using MDF + veneer worktops, that costs can be cut. At the price of lower quality. But, before wear, it all looks good. 

If you are tarting up a property to flip, quality & longevity are not a high concern - You won't be the one paying to fix it again a couple of years down the line.

Should you be planning on living there long term, it is worth (in my opinion) paying a bit extra for decent quality that lasts - Saying that as someone that used cheap vinyl wrap kitchen doors that now need replacing after only 5 years.

RHemmings

FreeBear said:

If you are tarting up a property to flip, quality & longevity are not a high concern - You won't be the one paying to fix it again a couple of years down the line.

Should you be planning on living there long term, it is worth (in my opinion) paying a bit extra for decent quality that lasts - Saying that as someone that used cheap vinyl wrap kitchen doors that now need replacing after only 5 years.

Precisely. I liked the look of the solid oak worktop, and walnut doors. But, those are many times more expensive than the cheapest options. 

Noneforit999

I want to know how those who buy houses at auction on Homes Under the Hammer get the work done so cheap, even the ones who claim to use tradesman.

'Yeah we are going to rewire, replace the boiler, replace the kitchen, bathroom, flooring etc'
'Will you be doing the work yourself or getting people in?'
'No we will be using tradesman for the work'
'and what is your budget'
'About £10k'

Almost every single time. 

RHemmings

Noneforit999 said:

I want to know how those who buy houses at auction on Homes Under the Hammer get the work done so cheap, even the ones who claim to use tradesman.

'Yeah we are going to rewire, replace the boiler, replace the kitchen, bathroom, flooring etc'
'Will you be doing the work yourself or getting people in?'
'No we will be using tradesman for the work'
'and what is your budget'
'About £10k'

Almost every single time. 

Yes. B&Q told me that an extremely rough guesstimate of the price of purchase including installation is to take the price of purchase of bits (doors, worktops) alone, and then double it. 

I see on Ebay that you can buy kitchen unit doors for a fiver each. I wonder how many flipped properties they have made their way to. 

I've never seen 'Homes Under the Hammer'. I should, really. 

Noneforit999

RHemmings said:

Noneforit999 said:

I want to know how those who buy houses at auction on Homes Under the Hammer get the work done so cheap, even the ones who claim to use tradesman.

'Yeah we are going to rewire, replace the boiler, replace the kitchen, bathroom, flooring etc'
'Will you be doing the work yourself or getting people in?'
'No we will be using tradesman for the work'
'and what is your budget'
'About £10k'

Almost every single time. 

Yes. B&Q told me that an extremely rough guesstimate of the price of purchase including installation is to take the price of purchase of bits (doors, worktops) alone, and then double it. 

I see on Ebay that you can buy kitchen unit doors for a fiver each. I wonder how many flipped properties they have made their way to. 

I've never seen 'Homes Under the Hammer'. I should, really. 

That depends on the price of the kitchen in the first place but if you buy a 'budget' one then the install cost probably will be double the cost of the actual kitchen.

Our kitchen + appliances was about £11k
Actual fitting cost (minus electrics) was £6k ex VAT
I got about 5 quotes in too and that didn't vary much either

RHemmings

Your kitchen cost is about what I'm hearing from others where there is professional fitting, and quality components. I'm now more aware of how the price can be pushed down with more and more compromises concerning quality and professionalism.