Is it best to stay on trend when refurbing? 🤔

Do you go with the latest trends when refurbing? When doing a development, you’ve got to spend money so it’s always nice to produce...

Do you go with the latest trends when refurbing?

When doing a development, you’ve got to spend money so it’s always nice to produce a good product for your tenants. One of our simplest mantra’s is:

GOOD HOMES = GOOD TENANT’S

So if you’re going to do a refurb you mind as well spend a little bit more. It’ll mean you’ll have a greater variety of tenants, cherry-picking the best, and also given the fact the North-East rental market is so strong you’ll be able to push your rent higher.

One of the key dilemma’s you’ll face is getting the right feel for your property. You might think, I’ll just buy the cheapest kitchen – is this the right thing to do?

It is if you’ve only got enough money for the cheapest kitchen but putting in a slightly more expensive kitchen could make you thousand’s more. A better finish will:

• Increase the longevity of your tenancy, reducing voids.
• Help to max out the rent by providing a better quality product.
• Reduce the chance of rental arrears by having the ability to choose between tenants.

Often the cost of upgrading a kitchen is relatively small when compared to the strip out and fitting costs. I certainly think it’s something to think about?

Also what about trends? At the moment:

• Brown work-tops are in vs black work-tops are out?
• White kitchens vs grey kitchens?

Chris our refurb director discussed this in the video below since it’s key to make decisions based on your goals.