Whatโ€™s the easiest way to add 20% in value to your property? Thatโ€™s the magic question. When I first started I used to do...

Whatโ€™s the easiest way to add 20% in value to your property?

Thatโ€™s the magic question.

When I first started I used to do the refurbs myself. I can remember the first property I bought, which was with my brother. It was a 2-bed ground floor flat in Bensham, Gateshead. It had a front room as you walked in, living room, kitchen, bedroom and bathroom to the back. It was a bit of a state when we bought it, I think an old lady had lived in it, and it ultimately needed gutting.

The problem with refurbishing a property is where do you start and whatโ€™s the best way to get the most for your moneyโ€ฆ

For us โ€“ It was usually hard work, with me being at the end of a paintbrush deep into the night. Youโ€™d then try and fit a kitchen (poorly), get a cheap plumber to do your bathroom and find the cheapest boiler you could find.

Sound familiar?

Luckily weโ€™ve moved on a little bit from that now. Whenever we do a refurb, weโ€™re constantly assessing the cost versus the long term gain. One of the biggest wins you can find is having a large bedroom with two windows. Itโ€™s the easiest thing in the world to put up a stud wall and add an extra bedroom. Itโ€™s also the easiest way to add value! Guess what as well?

Thereโ€™s tonnes of other things you can do:

  • Tiled skirts in kitchens to prevent water damage
  • Plinth LED lights โ€“ To add a WOW!
  • Move your bathroom upstairs โ€“ again adding tonnes of value to a house!
  • Never scrimp on the small things like taps (spending a couple of extra ยฃโ€™s makes a BIG difference)
  • TV aerials in bedrooms โ€“ tenants love it
  • Put a feature wall in your lounge

One of the company owners, Chris, did all of these things in a refurb we recently did๐Ÿ‘‡

As you can see when first considering what to do on a refurb you need to decide the best way to spend your money:

  • Can you create an extra bedroom by splitting a large one to create value?
  • Is it possible to move the bathroom upstairs?
  • What are your WOW moments โ€“ feature walls, LEDโ€™s in the kitchen?
  • What do tenantโ€™s want โ€“ aerials in the bedrooms?

All of these things will add ยฃโ€™000โ€™s to the value of your property, make it more appealing, which in turn will increase the rental yield and average length of tenancy.

Wouldnโ€™t that be great? Doing a refurb which generates you MORE INCOME!

That why โ€“ Itโ€™s our job to generate YOU long term wealth from property.

For any sales, lettings or refurb help:

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