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We have just finished refurbing one of the lodger rooms in our own home after our current lodger left after 5 years due to work re-location. I thought I would share the costs as we did it on a low budget but the end result is very pleasing imho.This is a large room about 17 feet by 12 feet with an ensuite shower room.Decorators - 2 people for 2 days - plus refurbished the ensuite replacing grouting etc. = £400.00Paint - £78.00New carpet - mid-quality with felt backing - £370.00Removal of old carpet - £90.00Two new bedside lights - £30.00 sourced from Value LightsRe-upholstered dressing table stool - fabric was £9.99 and Nick refurbed it.New shower attachments £30.00New mattress - £170.00.Here are some pictures of the end result:This room will let for around £700.00 per month in Guildford (all utilities included plus Sky and wi-fi).1. If you don't want to spend capital outlay on bigger ticket items like a mattress, set up a Grattan account and pay over one year - very often they have offers where there is nothing to pay for a year.2. For bigger ticket items, such as refurbing a bathroom, wait until "Black Friday" in November if you can. We got 40% off bathroom fittings and 25% off labour with Bath Store last year to refurb the ensuite in our master bedroom!What tips do you have for minimising budgets for such work while still creating a robust and quality product?SEE ALSO - Best ways of estimating refurb/material costsUP NEXT - Perplexed - irresponsible tenant behaviourDON'T MISS - Top 12 Property Tribes refurbishment resources for developersNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Just shows you can make very attractive and comfortable accommodation for very little outlay. Just needs some thought and effort.
The room looks nice
Howden has good offers for kitchen in October. I always miss it
Internet small ads...
Some recent bargains:
5 wood panelled doors £100 - factory clearance - RRP £1000
9m kitchen worktop £50 - wrong colour supplied - RRP £900
50m ceramic tiles £50 - change of business plan - RRP £750
Carpets - 1 day old - wife didn't like colour - £20 - RRP £800
Curtains and curtain poles - wrong size ordered - £10 - RRP £250
A good teacher must know the rules; a good pupil, the exceptions.
Martin H. Fischer
Looks very good, Vanessa.
I think I need help. I don't know how everyone does it. My refurbs always cost me tens of thousands and I do the majority of the work myself and I believe I am given trade prices everywhere and I am never afraid to haggle.
I am currently refurbing a 3 bed South London Terrace and am nearly finished. Admittedly it was a bit of a dump when I started but I will have spent at least £25k by the time I am done, ignoring 6 months of my own time and the general financing and running costs of the house.
This has been cheap for me. I have gone well into 6 figures on other houses.
Then I read that everyone else refurbishes houses for 25p and I wonder how to get into this parallel universe!
I'm in the same boat as you James. I do get people in but usually buy materials myself. I could never get a decorator in Essex for £100 a day though.
Negotiate Negotiate and Negotiate.
80% of project costs generally are fixed. Labour and base materials. The last 20% is the finish.
I'm based in Liverpool and work in the Northwest. I'm shocked at the prices that tradesmen charge 240 miles away.
Find good quality reabile guys. Record what they charge and keep a record. Then, like a Pep Guardiola, have 2 tradesmen for every position. Dont you let them become complacent.
I have just completed two projects. Holiday refurn and 2 bed house.
Holiday refurb was 20 and was over original budget but improvement changes and issues where found. Check out posts by Paul Hyde.
2 bed......full refurb 16k. Start to finish 6 weeks.
Always find LNPG have good deals on such things as bathrooms etc
Good article VW. 700 for a room. (Be it a fantastic room) is amazing.
Do you have HMO/Co-Living assets?
It all depends on the local market.
Our student rooms in Nottingham are now just under £100 a week inclusive in well-equipped purpose built houses (free internet, dishwasher for two things), and we are now getting contracts signed up in the previous Nov/Dec. But Nottingham works to 48 or 50 week contracts.
Wow £16k for a full refurb on a two bed house?
Could you give a breakdown as we are always over this? I assume you did a lot of the work yourself?
As with previous posts we are over this by some margin!