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Top 10 Tips For Renovating Properties

If you’re reading this, you probably already know that renovating properties can be a rewarding and profitable venture, especially in the exciting, ever-expanding real estate market of Liverpool. Whether you're a seasoned home investor or new to property development, ensuring a successful renovation project requires careful planning, attention to detail, and a strategic approach. Lev Properties are here to guide you through our top 10 tips for renovating properties, with a ready-made framework to success which we trust to deliver results. Dive in and make the most of affordable investment opportunities in your local area.

Property renovation

Select The Project Carefully

When embarking on a property renovation journey, the first and most crucial step is selecting the right project. Look for houses that have the potential to increase in value once renovated, as well as homes which offer superior value. Consider factors such as location, market demand, and the condition of the property. Liverpool is a fantastic city to target, with a thriving holiday lets market and plenty of desirable locations offering numerous opportunities for a profitable house investment.

At Lev Properties, we can even handle this process for you. Sourcing the property at auction, we deal with the paperwork and legal work, as well as managing the property renovation, finding a suitable tenant and subsequently managing their situation. This is often favourable for those who want to invest without the stress that can often come with it.

Prioritise Planning

Successful property development begins with a well-thought-out plan. Before diving into the renovation process, create a detailed project plan that outlines your objectives, budget, and timeline. Make sure you have a clear vision of what you want to achieve with the property. A comprehensive plan will help you stay on track and avoid unexpected delays and costs, while covering all bases before you get the ball rolling can minimise complications further down the line.

Don't Rush Big Decisions

Renovating properties involves making significant decisions that can impact the outcome of your project. Avoid rushing into choices regarding layout changes, structural alterations, or major design elements. Take your time to research and consult with professionals, such as architects and contractors, to ensure that every decision aligns with your overall vision and budget. Ultimately, big decisions can influence other aspects of a renovation and have a large impact on the investment you’re making, so don’t be afraid to patiently consider the choices you’re making.

Never Overlook The Garden

It's easy to get caught up in the interior renovations, but don't forget about the exterior, especially the garden. A well-maintained outdoor space can significantly enhance the appeal of your property. Consider landscaping, adding a patio or decking area, and ensuring the garden complements the overall design of the house. A Beautiful garden can be a unique selling point if you’re considering a sale, while a considerately furnished space outside of your property will often pay dividends when marketing your renovated property.

Understand Legal Matters

Property renovation involves legal responsibilities and regulations that must be adhered to. Familiarise yourself with local planning permissions, building regulations, and safety standards. Failing to comply with these legal requirements can result in costly delays and even legal issues. Consult with a solicitor or property expert to ensure you're on the right side of the law before pressing ahead with your ideas. Unless you’re extending a property or making major alterations, planning permission should not be required, but you’re always best to check for sure.

Format A Schedule Of Works

A detailed schedule of works is essential to keep your renovation project on track. This schedule should outline every task, from demolition to finishing touches, along with timelines and dependencies. It helps you allocate resources efficiently and monitor progress. Ensure that your schedule includes regular property inspection points to catch any issues early on, as well as a degree of flexibility in case of any changes to schedule or unexpected delays.

Realise That Perfection Takes Time

Renovating a property to perfection is a time-consuming process. Be prepared for delays, unforeseen challenges, and the occasional setback. Patience is key in property development, and rushing through the project to save time can lead to costly mistakes. Focus on achieving the best possible result rather than finishing quickly. Whereas a timeline can be extended if needed, it can be more difficult to reverse a rushed decision, or to rectify a bold design move which has backfired later down the line.

Contemplate Electrics And Energy Options

In today's environmentally conscious world, energy efficiency is a significant selling point for properties. Consider upgrading the electrical systems and integrating energy-efficient solutions such as LED lighting, smart thermostats, and double-glazed windows. These improvements not only attract eco-conscious tenants but also reduce long-term operational costs. If you’re feeling especially ambitious, solar panels and other sustainable energy forms may enter the picture. Homes of the future will increasingly utilise this energy, so why not get ahead of the curve with your holiday lets or domestic property investment?

Try Not To Overlook The Details

The devil is in the details, and small finishing touches can make a substantial difference in the overall appeal of your renovated property. Pay attention to the choice of fixtures, fittings, paint colours, and flooring materials. These details can help create a cohesive and inviting space that stands out in the competitive market. Everything from furnishings to floral arrangements can add value or increase appeal, not to mention details away from the interior, such as garage space or a garden big enough to accommodate a family.

Trust Professionals

While DIY can be a cost-effective approach for minor tasks, hiring professionals is crucial for major renovations. Experienced architects, builders, electricians, plumbers, and decorators have the skills and expertise to deliver high-quality results, while working with trusted professionals not only ensures safety and compliance - but also adds value to your property investment. Let Lev Properties handle matters from day one, and watch your portfolio grow without lifting a finger in the process.

Lev Properties: Property Inspection And Property Development Specialists

Though it can be intimidating to make your first real estate investment, and difficult to know where to begin, you can count on Lev Properties if you're feeling lost. We are dedicated to making the process of purchasing an investment property as easy, stress-free, and rewarding as possible as a top priority. We recognise that as a potential investor, you share our vision, and because of this, we make sure that everything is handled competently on your behalf.

Founded on openness, transparency and a direct, no-nonsense approach, at our local practice, our highly experienced team features property managers, agents, inspectors, maintenance staff and construction crews, allowing us to furnish our clients with a comprehensive service backed by decades of skill and understanding of each client's unique needs. We operate without shortcuts or baseless promises too, so expect business to be conducted openly, transparently and directly. Committed to delivering an impressive return on investment for each and every client, get in touch to speak with us today. We would be happy to help!

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