Ever wondered what a house refurbishment costs in 2024? In a recent video, my student Michael takes me through the full renovation of a chalet bungalow in Reading. He breaks down every penny spent on transforming his property. From the kitchen and bathroom upgrades to the exterior finishes, you get a detailed insight into the refurbishment costs and the strategies used to maximise value. To see the full video scroll to the top of this page or check out my YouTube channel.
While every project is different, getting an idea of costs from a specific case study can be very helpful. A complete breakdown of Michael’s spend can be found in the full video. I highly recommend watching it until the end, if you plan on doing your own house refurbishment. In this article, I will highlight 3 key refurbishment costs from this case study.
A lot of people want to know what a house refurbishment costs in 2024 and this case study could really help them. But I need your help to reach them. If you found this article helpful, please consider sharing it on social media.
1. What A House Refurbishment Costs In 2024! Kitchen Refurbishment
Michael is part of the Landlords National Purchasing Group (LNPG) which is a buying group for landlords. This allowed him to make significant savings when refurbishing the kitchen. For example, he had a Quartz worktop installed, which he estimates would cost £8,000 retail, but only cost him £2,500. The units and appliances cost him £4,000.
The key is to be able to create a high-end result, while keeping costs low. Finding ways to get wholesale and trade prices is one way to do this. Make sure you understand the industry and what discounts and offers are available to you. Having a good support network around you is essential to keep you informed about what discount schemes are currently operating.
2. What A House Refurbishment Costs In 2024! Exterior Improvements
The house had a mix of old brick and new brick, making the property a confusing mess. Michael therefore decided to render the exterior to unify the property. This cost £5,000 and Michael did the painting himself to cut back on costs. The end result significantly improved the property for relatively little money.
Make sure the exterior of your property is immaculate. It is the first thing prospective buyers see when they come for a viewing. If you use your budget carefully, you can transform the outside of your property without breaking the bank!
3. What A House Refurbishment Costs In 2024! £800 Bathtub!
Michael decided to install a spectacular bathtub that cost £800! While at first glance this might seem like an unnecessary expense, by including a few key luxury items he is able to market the property to high-end buyers. Key purchases such as this raise the value of the property considerably.
While it is important to keep costs down, it is also important to know where to spend strategically. Sometimes spending more is warranted, especially when dealing with the luxury end of the market. Make your property stand out from the crowd by spending where it counts!
What A House Refurbishment Costs In 2024 And Other Property Answers
Now that you know what a house refurbishment costs in 2024, it’s time to get answers to the rest of your property questions! Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
