Do you know making money from property can be about the little things… The first property I bought was a one bed flat in...

Do you know making money from property can be about the little things…

The first property I bought was a one bed flat in Bensham, Gateshead. I think I bought it for £55k, it was a bargain at the time. It needed a new kitchen, painting & decorating and new carpets throughout.

So guess what I did?

I bought a budget kitchen, budget paint and budget carpets to save money on the refurb. I was going to be king of the refurb, where I wasn’t going to spend a SINGLE penny more than I had to.

Do you know what? The kitchen fell to bits, I needed twice as much paint as I thought and the carpets didn’t last. Ultimately in life, you get what you pay for. Don’t get me wrong I’m all for getting value – we always check our tradesman day rates to the market but cheap often doesn’t last.

Carpets are a classic example the DPS says the average life span of a carpet is between 3 & 20 years depending on the quality.

  1. Budget quality – 3 to 5 years
  2. Medium quality – 5 to 10 years
  3. Top-quality – up to 20 years

I’m not suggesting putting in a shag pile made from unicorn hair to get a few years extra life but you should always make sure you don’t go for the cheapest but the best value.

We usually go for mid-range carpet with a good underlay (8mm) depending on the type of property. Also, we make sure the door bars we use are thicker to prevent any fraying at the edges, again ensuring greater longevity.

Finally, between tenancies, you’d be amazed how nice an old carpet can come up – definitely employ a professional cleaner. This ensures your tenant is moving into a nice home and first impressions count – they’re more likely to treat your house nicely if you’ve initially provided it in a beautiful condition!

Chris, our senior property manager, recently visited a property and see his top tips regarding saving money on your carpets.

I hope you found the video useful and remember it’s OUR JOB TO SAVE YOU MONEY!

For any sales, lettings or refurb help:

  • Contact us today by phone or email to move your property to us.
  • We’ll contact your letting agent to ensure a seamless tenant transfer, including the deposit, keys and all paperwork.
  • We’ll contact your tenant to resolve any rent, maintenance or refurbishment issues you have, arranging a property visit if required.
  • We’ll begin the process of maximising your income and wealth.