According to a recent trends report by Zoopla, 64% or almost two-thirds of UK homebuyers in the last ten years have renovated their properties within the first two years of their purchase.
From purchasing an older home due to the lack of new builds in the area to being unaware of the New Homes Quality Code by NHBC that mandates a two-year snagging guarantee by developers, there are many reasons why homebuyers choose to renovate so soon. However, there is a difference between renovations and refurbishments, depending on the scale and nature of the upgrades you seek and their respective costs.
Renovation vs Refurbishment: What is the difference?
Although many websites and publications refer to both terms as synonyms, painting walls or changing taps cannot compare to the quantum of work and cost involved in adding/removing a wall or creating a new bathroom from scratch. These structural changes are much more complex than cosmetic upgrades done for aesthetic purposes.
When should I get a refurbishment?
You can get a refurbishment done when you want to elevate your home’s aesthetic appeal or improve a rental investment to increase the asking rent. Simple refurbishments like painting, decorating, updating the garden, electricals, plumbing, and removing mould are the most common, as over 75% of all homeowners carried out such jobs in the last year, which wouldn’t cost over £4,000 on average.
While these popular refurbishments focus on replenishing old and outdated fixtures with modern replacements, they can significantly improve a property’s asking rent by making it more presentable to potential tenants. However, if you have an older property requiring structural changes or layout modifications, consider a more detailed renovation for your space.
When should I get a renovation?
Renovations are extensive repairs or structural changes done to enhance a property’s functional and utility value. Whether knocking off walls to create an open-plan layout or raising the height of the ceiling, these extensions or conversions are often more complex tasks and require the expertise of professionals such as architects and designers.
Adding a new kitchen or bathroom to a property, extending the floor space, removing lofts, and repairing structural damages caused by wear and tear are some of the most common renovations carried out by homeowners and landlords in London. Categorised as home improvements, buyers who made such renovations in the last year spent over £20,000 on average.
Benefits of working with a refurbishment and renovation specialist
Working with a dedicated specialist like InStyle Direct can be a seamless experience for London homeowners and landlords looking to refurbish or renovate their properties. We offer various refurbishment and renovation services to help clients get the best results from their properties.
With an in-house team of professionals, such as architects, builders, kitchen and bathroom experts, and experienced interior designers and project managers, we ensure a cost-effective, high-quality and timely completion of different types of projects. We also provide a range of design-led furniture packs and interior solutions tailored to enhance the value of properties and make them completely move-in-ready.
Real-life renovation and furnishing success stories
From transforming older period properties in affluent London neighbourhoods like Westminster and Notting Hill to upgrading apartments for better rental yields, here are some of our top refurbishment and renovation success stories.
Rent more than doubled for Westminster landlord
We transformed a dated, stucco-fronted, four-bed apartment at Cleveland Gardens in Westminster into a modern three-bed property with a spacious master bedroom featuring a walk-in wardrobe and en-suite. The project involved a comprehensive makeover, replacing the old-fashioned block stairs with new spiral stairs and installing new cabinets, wallpaper, and painting to complete the look. Once completed, the monthly rent for this property more than doubled from £4,100 to £8,500.
Reimagining a property in Hammersmith
Led by one of our senior interior designers, this two-bed apartment at Sovereign Court in Hammersmith was given a new look with refreshed interiors and attractive window dressings. Statement feature walls were added to the living area, while artistic wallpapers, coving and moulding improved the property’s overall aesthetics.
Over 80% increase in rent after refurbishment
We combined our refurbishing and furnishing services for this spacious apartment at Notting Hill Gate that helped our portfolio landlord client increase the asking rent from £1,200 to £2,200. The small, unused rooms were removed to make way for an open-plan layout comprising a large kitchen, office and reception area, while the false ceiling was cleared to increase the vertical space. Paired with our thoughtful furnishings, the property received multiple viewings instantly.
What’s the best choice for homeowners and investors
The decision to get either a refurbishment, renovation or both depends entirely on your objective and the desired result. If you are a landlord or investor looking to maximise rental yields, upgrading your property to the standards of high-calibre tenants is recommended. Similarly, homeowners living in an older property with dated fixtures and tired interiors may want to revamp their house to make it stand out while retaining specific characteristics unique to older homes.
Whether it is a minor restoration or a complete property makeover, working with a trusted company is always advisable as the resources and expertise of a refurbishment and renovation specialist are invaluable. Right from sourcing the correct materials, optimising costs, coordinating the whole look and delivering a project on time, we have helped thousands of landlords and homeowners achieve the best results for their properties. You can contact us for a quote if you wish to renovate your house.
