How Much Does It Cost To Renovate A Property?
If you want to create your dream home, one of the first things you need to ask is, how much does it cost to renovate a property? Redesigning or refurbishing a property gives you the opportunity to increase its value or create a forever home but planning your budget is essential. To learn more, read on to find out everything you need to know and get the answer to the burning question: how much does it cost to renovate a property?
Nestled in the rolling rural landscape of Somerset, combining a contemporary city atmosphere with countryside idylls, it’s not surprising Bath has become such a popular place to live. Whether you’re a long-time resident looking for a new home or you’re planning to relocate, you’ll want to know, how much does it cost to renovate a property in Bath?
As you can imagine, renovation costs can vary dramatically, depending on a number of factors. The cost to renovate house is likely to be higher than the cost of renovating a flat, for example. Similarly, the extent of your renovations will determine how much work needs to be carried out and, therefore, what the final cost will be.
How Much Does It Cost to Renovate a Property on Average?
Before we look at the cost of renovating a house in Bath, it’s useful to get an idea of the average cost of renovating a property in the UK. Designer recruitment site, Design for Me, estimate that renovation costs per square metre in the UK equate to less than £2,000 per square metre for typical extension works, with prices rising based on the scope of the project and the requested finish. However, it’s worth noting that these figures are based on average estimates in the South East, where prices are the highest in the UK.
How Much Does It Cost to Renovate a Property?
When it comes to house renovation costs Bath, homeowners benefit from the city’s location. Being situated in the South West means there is some scope for average estimates to be reduced. However, there’s no doubting that Bath is a popular residential location, which means designers, builders, and architects are in high demand. Furthermore, it is the scope of your project that ultimately has a bigger impact on the final cost renovation costs.
What Are Your Renovation Plans?
Before you can get a rough estimate of the expected costs, you’ll need to determine what your renovation plans consist of. If you have a particular property in mind, you might want to ask how much does it cost to renovate a house, as opposed to how much to renovate a flat, for example.
Alternatively, if you’re looking for an investment opportunity, you may want to compare the cost to renovate a 2-bed flat Bath with the cost of renovating a 4-bed house in the area.
How Much Does It Cost to Completely Renovate a House?
If you’re planning a complete renovation, this may involve demolishing an existing structure and rebuilding it from the ground up. If so, the cost of renovating a house will include the fees associated with a complete re-build, as well as the cost of razing the existing property.
In contrast, renovating a property without demolishing can be substantially cheaper. Making structural changes, as opposed to simply refurbishing a home, does add to the cost, but avoiding the demolition and rebuilding process can speed up the project and reduce the associated cost.
When you’re asking how much to completely renovate a house, it’s important to remember that a ‘complete renovation’ means different things to different people. By creating a detailed plan of what your project involves, you’ll be able to get a more accurate quote from industry professionals.
How Much Does It Cost to Renovate a Property with an Extension?
Extending a property can be a great way to reformat the layout and create extra space. If you want to add extra square footage to a property in Bath, Barclays recommend budgeting at least £1,000 – £2,000 per square foot of extra space. However, this doesn’t include the additional costs of fitting out the new space.
If you’re adding a 4ft x 5 ft single storey extension to create an open-plan dining and kitchen area, for example, the cost of the actual extension may fall between £20,000 – £40,000, based on Barclay’s estimate per square foot.
However, you’ll need to budget for the additional cost of fitting a new kitchen, making interior changes to create an open plan environment and refurbishing the space. Of course, the cost of these changes can vary dramatically, depending on the finish you’re looking for.
Choosing a Renovation Property
If you want to take on a renovation project, it’s important to consider all aspects of the renovation when you’re searching for potential properties. Although flat renovation costs can be substantially cheaper than house renovation costs, don’t assume that the cost will be nominal. Instead, ask a range of firms, how much does it cost to renovate a 2 bedroom apartment, so you can get a clear idea of what the requisite budget will be.
How Much Does It Cost to Renovate a Flat?
Again, the cost to renovate a 2 bedroom apartment will vary, depending on exactly what changes you want to make. However, homeowners are typically more limited when it comes to the scope of renovations in an apartment, which can affect the final flat renovation cost.
If you cannot make structural changes due to the terms of ownership and you don’t have external space to build on, you may be restricted to making interior or cosmetic changes only. As a result, you could benefit from reduced refurbishment costs per square metre UK, which can be substantially cheaper than a complete renovation.
How Much Does It Cost to Renovate a Property That’s Listed?
If a building is listed (such as Warleigh Manor we currently list), it can significantly impact the scope and cost of your renovation project. You’ll need to obtain permission before making changes to a listed building and you may be required to ensure that all changes are in keeping with the age, style, and character of the original building.
Due to this, the cost of renovating a grade 2 listed building can be substantially higher than renovating a non-listed building. With more than 5,000 listed buildings in Bath, this is certainly something that potential property buyers should be aware of!
How Much Does It Cost to Renovate a Property Yourself?
If you work in the industry or you’re an avid DIY-er, you might be tempted to undertake renovations yourself. After all, this would seem to be a viable way to keep costs down. However, asking how much does it cost to renovate a property yourself is a difficult question, because it depends on how much of the work you’re able to complete.
Furthermore, even experienced tradespeople will require assistance from other professionals if a complete renovation is undertaken. While many people do commit to renovating a property with limited external support, bear in mind that you will still have the costs of materials, planning applications, fittings, fixtures and at least some professional labour to factor in.
How Much Does It Cost to Renovate a Property – And Is It Worth It?
In reality, the total cost of renovating a property depends on so many factors that it’s impossible to give a ballpark figure. Minor refurbishments will inevitably cost less than major renovations, while the scope and quality of the finish, in addition to the size and condition of the property, will all impact the overall budget.
Despite this, renovating a property can be a fantastic opportunity to generate a great return on your investment. What’s more – redesigning a property and creating your own home can bring an immense sense of satisfaction.
Once you have a clear idea of exactly what the scope of your planned renovations includes, you can begin to build a more detailed budget. By asking the right questions, such as how much will it cost to renovate your own property, as opposed to, how much does it cost to renovate a property that’s nothing like yours, you’ll be able to create a workable budget and get your project underway.