When looking for buy-to-let property for sale, you’re likely to view some houses that need work. Some may just require a quick lick of paint; others may need more extensive renovation to bring them to standard.
When investing in UK property, it’s important to budget properly – and factoring in the costs of improvement and renovation is a key aspect of this. Here’s a quick guide, detailing jobs that can be done yourself, and tasks that require expert assistance.
Investing in UK Property – DIY or Expert?
- As a landlord, it’s your responsibility to safeguard the health and wellbeing of your tenants. As a result, your electrics should be in top working condition, and present no risk to people renting your property. By all means, if you have a modern house, take on the job of fitting new lights (there are only two wires, so it’s relatively straightforward). However, if it’s an old property or you need extensive rewiring, leave it to the experts.
- Cosmetic improvement. If you’re fairly confident, stripping wallpaper and repainting walls shouldn’t be too difficult a task – though it is time-consuming. Remember, a messy finish will only deter tenants. However, if your walls require replastering, it’s probably wise to hire a plasterer, to ensure a smooth, even finish.
- Structural renovation. Technically speaking, you can remove a wall if it’s a basic hollow stud wall. Any other walls, particularly load-bearing walls, should be assessed by a building surveyor or structural engineer first. Remember, even removing a hollow stud wall requires some level of expertise; especially if there’s wiring or pipework within.
- Tiling / Retiling. If you’ve got the necessary skills, it’s possible to remove old tiles and replace them yourself. But beware – tiles can be fragile and are prone to smashing, which can prove hazardous. It’s also harder to get a neat finish than you might think.
- Replacing doors. Many people make the mistake of thinking it’s easy to replace doors – as they only require a pair of hinges to be fitted to a doorframe. This isn’t the case at all. You need to be precise with your measurements (otherwise the door won’t align) and you may need to plane the edges. Unless you’re confident, this is a job best left to the experts.
Are ‘Doer-Uppers’ Worth it?
When investing in property in the UK, many choose new-builds, as this eliminates the need for improvement.
However, by avoiding building projects altogether, you could miss out on big profit potential. Properties requiring improvement are often considerably cheaper (especially at property auctions) – which means there’s greater opportunity to increase the value of the house.
The most important thing is to factor in all costs involved with renovation and improvement, to see if it’s a financially viable option.
The Buy2Let Shop Limited
Are you looking for a buy-to-let property for sale? Whether you’re seeking a new-build or a project, get in touch with The Buy2Let Shop. We’re a team of professional property investment agents, and we’ll help you find the right property for your requirements.
To find out more about our services, simply visit the The Buy2Let Shop website today.