The quickest path to success when investing in property is building in profit from the start, capital appreciation takes years to show results and rental income is great over a period of time. If you want to make a quick win and build in profit from the start you need to increase the value of your asset by adding value through a refurb, a good refurb will also make it easier to avoid your property being empty and give you a greater rental return.
A well-executed refurb can take the yield from 8-9% to 11-12%, which over time means more money in your pocket. If enough value is added through the refurb it is sometimes possible to pull out the initial investment and roll that into the next project giving you a property with equity, capital growth potential and a positive cash cow.
What’s not to like about that?
Using the team of trusted contractors build up over the years Watts & Co are able to take control of the entire process so you don’t have to. Once instructed the process is as follows:
Talk about the ideas and how the returns can be maximised and to devise the executable strategy.
Writing up a rough schedule of works, drawing up the plans and consulting with the planning authority if relevant.
Measure Up and Quote
A typical house sales takes 6-12 weeks to complete, in that time it is possible to get the kitchens designed, bathrooms measured and contractors quoted, this means from the moment the sale completes you can concentrate on doing the work and not sourcing contractors.
To prepare the property for the refurb, we will hire some muscle, grab a hammer and start filling a skip.
Scheduling - 1st Fix
With the property ripped out, all the infrastructure can be fitted such as stud walls, cables and pipes.
Scheduling - 2nd Fix
Once the 1st fix has been completed, and all of the functional fixes have been done, the aesthetic fixes will commence, such as plastering, tiling and fitting skirting boards.
Once walls are boxed in, decorating will commence. The walls and skirting boards will be painted.
Finish, Snag and Furnish
Finally, carpets will be laid, last bits of snagging completed and furnishing will commence.
Meet The Team
Our team of experts are here to make buying your new property as easy as possible. We take all the hard work and worry out so that you can focus on your future.
Find a Property
Whether you are looking to buy or rent a new property or grow your professional portfolio, we have a list of properties available for you to peruse at your own leisure.
Watts & Co is the trading name of FDW Property Holdings Ltd, Registered in the UK Company reg number 10509376 at Office 8, Burley Hill Trading Estate, Burley Road, Leeds LS4 2PU. Watts & Co offer client money protection through CMP - Click here to view the certificate - we are also members of the Property Ombudsman redress scheme.