How to Renovate a House in 2024

Dreaming of a modern kitchen, a luxurious bathroom, or a spacious open-plan living area? Home renovations can turn your house into a dream home, but the process can be overwhelming. We'll walk you through the process, from identifying your goals to achieving the perfect finish.

Did you know that a well-executed kitchen renovation can increase your home's value by up to 10%? (source: Checkatrade).

Leasehold vs Freehold: what are the differences in renovating?

Leaseholders can make whatever renovations they like internally, but more significant changes might need the freeholder's permission. This would usually involve plans being drawn up and sent to the landlord (freeholder), especially if the planned renovation involves structural work.

Freeholders have full control over the property, so as long as planned renovation works comply with building regulations and local planning permission, there should be no issue.

Why renovate your home?

Renovating your home isn't just about updating aesthetics; it's about transforming your living space. If you want to increase resale value or generate rental income, a well-executed renovation could be the way to go.

Enhance your lifestyle

Create spaces that reflect your style and cater to your family's needs. With an open-plan kitchen, a living area for entertaining, or a home office for remote work, renovations can turn your house into a home you truly love.

Increase property value

Renovations can boost your home's value. Modern kitchens and bathrooms are top priorities for many buyers, while loft conversions and extensions can add extra living space or bedroom, increasing your property's desirability. You might benefit from a substantial return on investment when it comes time to sell.

Generate rental income

Converting unused space into rental units can provide a steady income stream, such as converting a basement into a self-contained home. However, you need to be careful about the plans and design to attract potential tenants.

The cost of a renovation

Renovations are a significant investment, so it's essential to understand the costs involved. While the average cost of a full house renovation varies widely based on factors such as property size, location, and the extent of work, you'll need to set a realistic budget.

Here's a quick breakdown of renovation costs but for a more comprehensive analysis please read our article 'How Much Does a Renovation Cost?'

• Labour: The cost of hiring skilled tradespeople, including builders, plumbers, electricians, and decorators.
• Materials: The price of building materials, fixtures, fittings, and appliances.
• Permits and fees: Costs associated with getting permits and approvals from local authorities.
• Professional fees: Fees for architects, designers, and project managers, if required.
• Unexpected costs: A contingency fund to cover unexpected expenses.

You'll also need to factor in the property's size as larger homes will naturally require more materials and labour, the location because costs rise in London and the South East, and your scope of work because if there are structural changes, that will incur a higher premium.

Above all else, be realistic about renovation costs and your expectations. While it's tempting to embark on an ambitious project, it's equally important to consider your budget and prioritise essential improvements. You can even use these money-saving secrets to help in your renovation journey.

How to renovate a house: the process step-by-step

• 1

  Step 1: Planning and design

• Find/choose the right property: You might not even be looking directly for a property to renovate, but then you fall in love with a home that needs some work. A property boasting big rooms with the potential for extensions and conversions would be best for someone who wants to renovate.
• Define your goals: Clearly articulate your vision for the renovation. What spaces do you want to transform? What style are you aiming for?
• Create a budget: Develop a realistic budget and allocate funds for materials, labour, permits, and unexpected costs.
• Design and planning: Work with a structural engineer, architect, or interior designer to create detailed plans and designs. For small projects, a good builder will be able to manage this, but always check regulation requirements. Consider space utilisation, functionality, and aesthetics.

• 2

  Step 2: Finding the right contractor

Selecting the right contractor is crucial to the success of your project. Research local builders, read reviews, and request quotes. Think about experience, qualifications, and communication skills when deciding.

• 3

  Step 3: Obtaining necessary permits and approvals

Study the permitting process in your area. Look at the types of permits required for your renovation project and start the application process early. Building regulations, planning permission, and local codes must be adhered to for a smooth and legal process. If you've got a listed property or one in a conservation area, you might need to look into listed building control regulations. Party wall agreements come into play as well, especially if you're looking to own a semi-detached home.

• 4

  Step 4: Project management

• Create a timeline: Develop a realistic timeline for the project, breaking down tasks into manageable phases.
• Communication is key: Keep open communication with your contractor and inform them of any changes or concerns.
• Regular inspections: Conduct site visits to monitor progress and address any issues promptly.

• 5

  Step 5: The construction phase

• Demolition (if necessary): Remove existing structures or finishes to prepare for the renovation.
• Structural work: Address any structural issues, such as load-bearing walls or foundation problems.
• Plumbing and electrical: Install or upgrade plumbing and electrical systems to meet modern standards.
• Insulation and energy efficiency: Improve your home's energy efficiency through insulation and energy-saving measures.
• Finishing touches: Complete the project with flooring, painting, cabinetry, and other finishing details.

• 6

  Step 6: Post-renovation

• Snagging list: Create a list of minor defects or imperfections to be addressed by the contractor.
• Cleaning and Staging: Thoroughly clean the newly renovated space and consider staging for potential buyers if you plan to sell.
• Warranties and guarantees: Review warranties and guarantees for materials and workmanship.
• Maintenance: Establish a regular maintenance schedule to preserve your investment.

Risks of home renovation

Budget overruns: Renovation projects often exceed initial estimates, so it's crucial to have a contingency plan in place. Failing to budget adequately for unexpected expenses could lead to financial strain at an already sensitive time for your money.

Rushing the planning stage: Jumping into a renovation without proper planning will only result in costly mistakes. Invest your time in design, research, planning permission, and material selection.

Unexpected issues: Discovering structural problems, outdated wiring, or plumbing issues can disrupt the project. This might lead to an expansion of the original plan and could quickly escalate costs and timelines.

Disruption to daily life: Renovations can be messy and inconvenient, impacting your daily routine.

Contractor issues: Finding a reliable contractor and managing the project can be stressful. Hiring someone without vetting them could lead to subpar workmanship, delays, and disputes. Additionally, poor communication with the contractor can lead to misunderstandings and frustration.

After the renovation: Don't overlook snagging issues, as neglecting to address any minor defects can impact the overall quality of the renovation. This would affect any resale value if you were to list the property on the market.

Maximising your investment

Highlight the renovation and focus on a unique selling point

• Professional photography: Invest in high-quality photos that showcase the renovated spaces in their best light.
• Virtual tours: Consider creating virtual tours to allow potential buyers to explore the property remotely.
• Staging: Arrange furniture and decor to create a welcoming and inviting atmosphere.
• Kitchen and bathrooms: These are often the most important rooms to buyers. Focus on modern amenities and high-quality finishes.
• Energy efficiency: Showcase any energy-saving features, such as new insulation or energy-efficient appliances.
• Additional living space(s): If you've added a loft conversion or extension, emphasize the extra living space and its potential uses.

Price your home strategically

• Conduct market research: Determine the average selling price for similar properties in your area.
• Price competitively: While you want to maximise your profit, pricing your home too high can deter potential buyers.
• Consider incentives: Offer incentives like warranties or appliance packages to attract buyers.