Why is it important to refurbish a house?

Whether you are managing a buy-to-let portfolio or looking to become a property developer and buy-to-sell, property refurbishment is going to be key to your success. Refurbishing your properties will increase their value, make them more attractive to tenants and decrease what you will have to spend on maintenance. Refurbishment Costs Vs.

How to manage costs on a house refurbishment?

Any work should be done with the aims of adding a wow factor, increasing the value of the property and decreasing your ongoing maintenance costs. If you are in between tenants and just looking to tidy the property up then a light re-decoration and a good clean throughout can often be sufficient. New carpets might also be required.

What is the CGT position for a refurbished property sale?

The CGT position for a refurbished property sale, may be different, depending on the circumstances, read on to find out why. Broadly the tax law allows relief from CGT on gains arising from the disposal of: Its garden or grounds up to the permitted area.

How long does it take to renovate a house?

Unless the project is a very large one you should plan for all works to be completed within 4-6 weeks. But, of course really the quicker it is the better, so you can get on with renting the property out and getting cash flowing again. 3. Choosing a House To Renovate Maybe you are looking for a buy-to-sell property.

Which is the best property to refurbish for a newbie?

The ideal properties to refurbish for a newbie are habitable but very tired. Ideally you need to find those properties which don’t look like they’ve been decorated for 30+ years.

How many buy to let properties are there?

They have six buy to let properties at the moment, a decent liquidity fund and plenty of equity in properties. They wanted advice on how to get into property refurbishment. Read More

How is buying a new home different from buying a resale home?

Buying a new home is very different from buying a resale home. Even the contract is different. Builders use their own in-house contracts and they are not written to benefit the consumer. The biggest tip of all is to avoid using the in house builder contract! Ask your attorney to write the contract instead.

What happens if items remain uncompleted in a new house?

If items in your new house simply remain uncompleted, what happens next depends on what you agreed to at the closing. Your contract may have allowed you to do a closing inspection of the home, at which time you and the builder should have created a punch list of items yet to be done.