Budgeting for flat renovation?

[willy70]

Hi all first post and looking for some general advice.

I'm looking into buying a small rundown 2 bed flat to renovate, and would like to know if anybody off this forum has done just that, what are the basics to look out for what could be the pitfalls,how do you put a budget together?, i know i need a building survey on the property before i even think of putting an offer in, im an asbestos surveyor by trade and will be doing my own survey for that.

Thanx...

 

[bestgeorge]

they rekon £1000 a square metre wont be far off generally.This obviously depends on how much in really needed I.e. electrics, plumbing, replastering, roof? probably the most expensive jobs. Then new kitchen/ bathroom. central heating The list goes on.

 

[freddiemercurystwin]

they rekon £1000 a square metre wont be far off generally.

No thats for new build!

Renovation is not something that can be readily priced like new build can. That's why nobodys replied. The pit falls may be many or few depends on alsorts.

It depends on many factors, what needs doing, size of flat, number of rooms, location, ground floor flat or 10 storey's up etc etc

The OP needs to make a list of everything that needs doing and stick prices next to each item.............













then double it!

 

[bestgeorge]

Yeah most referbs i've done have cost the same or not far off the cost of a new build its because if its an old style place nothing is square or up to modern standards and labour costs always go up. The last one I did I budgeted £30k it cost £50k and was only 64m square. which isn't far off £1000 per m. The rebuild value for this was £48k