How to increase the value of your investment through refurbishment?
The basic goal of any property investor is to increase the value and get better ROI. Among numerous ways to raise the value of your property, refurbishment or adding value is the most common. Here’s a simple example of how refurbishment can enhance property value:
- Purchase Price: £90,000
- Renovation cost: £20,000
- New Market Value: £160,000
- Total Cost: £110,000
- Total Profit: £50,000
Refurbishment gives you an opportunity to recycle your initial deposit. As per the above example, if you bought the property for £90,000 in March and now want to re-mortgage it in December for £160,000, then a solid proof for this new property worth needs to be proved. By adding value with refurbishment, you can look for re-mortgage by showing the mortgage company your efforts and works into your property.
The idea here is to use a single investment to buy the initial property, refurb, re-mortgage and rent and refinance to buy another property. You will grow your capital income as you get more rental incomes. This will also allow investors to extract capital from the initial investment and reallocate it elsewhere.
If not planned well, property refurbishment can get risky. Lack of time, improper evaluation, or co-ordination issues can lead to your cash getting trapped. This is where a property refurbishment company comes handy.
Still, confused whether you need a property refurbishment service? If you fall among the below-given categories, then property refurbishment would be certainly something that would be of your interest.
You spotted an appropriate and budget-friendly property for refurbing and refinancing, but do not know how and where to start?
Your property of interest is located far away from where you stay.
You are extremely short of time and are looking for a team to single-handedly perform the coordination and development of your property while you reap the benefits.
How does YGFDC help in property refurbishment services?
Carrying out refurbishment works on your own means undertaking tedious, time-taking and intricate set of tasks. If your property happens to be at a faraway location, then it becomes, even more, draining on your part. The only possible solution here is to hire a property refurbishing company which will fulfil high-quality professional renovation works on time and make sure that they get good tenants and reap better and quicker benefits.
YGDFC, one of the leading property refurbishment service providers in the UK who have been streamlining refurbishment processes for our clients for years. From simple renovations to refurbing luxury properties, we have done it all. Our unique “turnkey” refurbishment solution that covers from conceptualization to completion is well-acclaimed by most of our clients.
Here are some common refurbishment works handled by YGFDC:
- Complete décor revamp
- Modifying substandard internal layouts
- Replacing bathroom and kitchen fittings
- Central heating installation
- Gas checking
- Electrical works, rewiring and repairs
- Replacing windows, doors and roofing
When you join hands with YGFDC, we will make sure that all the items required for refurbishment are bought in apt quantity and size at the right price to keep you inside your budget.
The Refurbishment Process We Follow at YGFDC
- Gather requirements
We meet and listen to your needs and aspirations. Brainstorm to perceive your budget and timeline.
- Devise plans
Property evaluation is conducted and a schedule on the basis of your budget is developed.
After conducting pre-contract meetings and agreeing on the property refurbishment fee the work is initiated.
The project updates are sent to the client on a regular basis through photographs or videos.
- Completion and Hanover
Post the required construction checking such as gas, electrical, local authority approvals etc, the building handover is prepared.
- Successful operation
From advertising to finding tenants, managing tenants to rent collection, we will help in the further operation of the property.
We help investors identify and secure fantastic investment opportunities in the UK.
We help investors add more value to their properties with professional refurbishment.