Is your Instagram full of people claiming to make money by “simply” buying andrenovating old houses?
Whether you’re wondering if an extension will pay for itself or if you should be tearing down walls, experienced renovator Alex Fidoe ofAlex Fidoe Propertyhas plenty of advice.
After leaving her corporate career in marketing to have a better work-life balance with her children, she beganrenovatingProperty with her mum part-time before deciding to become a full-time property developer, landlord and mentor. She’s now been flipping properties for seven years, generating a turnover of £3.5m, and has renovated countless others – so she knows what will add value, and what won’t.
Don’t underestimate decorating
DecoratingIt is one of the simplest things to do, and if you DIY, it saves a lot. One of my top tips is to go to a Brewers or Dulux Decorator Centre. They’ll colour-match Johnstone’s Paint to whatever Farrow and Ball shade you like, so you can access those colors but cheaper.
Externally, kerb appeal is important as it’s the first thing people see. Paint your front door, and if you have wood window frames, it’s worth giving them a lick of paint too.
Whenever I flip a property, I decorate it, often with items from Homesense, The Range or supermarkets. You don’t have to spend a lot but you can add warmth and create sanctuary areas in bedrooms with a few well-chosen accessories.
Make the most of your features
I don’t like throwing things away, so whenever I look at a house, I check what can be saved. You might have some dark beams, but by sanding, treating them and painting them a light color, it will bring warmth. This adds value because it’s character.
I’ve bought a couple of 1930s houses, which have had original flooring, so I’ve had that professionally cleaned. Old picture rails as well: rather than taking them out, you can restore those. SomeUpcyclingIt is quick, easy and cheap to do. For example, I had an ugly gas fireplace, gave it a spray of heat-resistant paint, changed the color, and brought it back to life.
No features? Add some
You can transform a house even if the features aren’t there. Paneling is cheap, easy to do and effective. Go to Wickes or Howdens, buy it in blocks and attach to walls. I had one 1960s house with no features but a big bathroom, so I put paneling in it, painted it in color-matched Farrow and Ball Stiffkey Blue with the rest off-white. The blue just popped.
Panelling can also transform walls and hallways, break things up and add wow. One of my friends used rustic panelling behind a bed with lighting on either side, and it looked wicked.
Facebook Marketplace and eBay are good places to find things to upcycle, and you may even get some for free, such as tiles or bathroom furniture.
Get creative with tiles and lighting
There are many different types of tiles that will transform your kitchen or bathroom. I’d always advise people to go into DIY shops, so they can physically touch the materials, and see what works together. For example, if a bathroom isn’t large, I wouldn’t use panelling, I’d use floor-to-ceiling tiles, bright and reflective to make it look bigger, with waterproof wood-effect flooring.
For fitting, while I try to do as much as possible myself, if you think it’s tricky,get an expert inA good finish will stand out. Lighting makes a massive difference, too, especially in kitchens and bathrooms where under cabinet lighting really shines.
Negotiate discounts
I rarely ever pay full price: I shop around and negotiate because there are some bargains out there, especially if you go back to the same places and build relationships.
This is especially important when people are thinking about changing kitchens or bathrooms as these are the key rooms for adding value. Consider ex-display kitchens, bathrooms and tiles as they come in a lot cheaper.
Focus on key rooms
I overspent on the first couple of flips I did, so I learned quickly to focus on the main areas within the house. Now I make sure I have a decent budget for the kitchen, living area and bathroom. Other rooms, such as bedrooms, I keep simple and neutral.
If a kitchen is pretty solid, it may just need an update. You can change your worktops – there are some amazing laminates with marble or wood effects – or if you have a wood kitchen, painting or spraying it can transform the look. Replace door furniture, too: it’s basic but creates a big impact.
Make a good first impression
On driveways, I often use an attractive stone to bring a front of house to life. It’s quite cheap, low maintenance and stops weeds. In a back garden, I do low-maintenance borders, with an entertainment area or patio, and pot up some plants.
Open up the space
Open-plan livingIt is still quite popular, so if you have a small kitchen and a living area, I’d suggest combining them. You can easily knock down a wall – it doesn’t cost much, at most a few thousand pounds, you just need building regulations. In doing so, you’re creating a clear hub of the home.
Maximise your footprint
Extensions can be expensive, but there are often ways to rearrange a space without increasing the square footage. It seems that no one is using their garages for cars anymore, so what I have done previously is to convert garages: either a full conversion into a bedroom or office space, or partial garage conversions and utilities or downstairs toilets. It doesn’t cost a lot and rarely requires planning permission, but it needs to comply with building regulations.
The other thing I did with one of my houses is split a large bedroom into two. Look at your floorplan, and see how to make the most of what you have.
Big project? Ask for an appraisal first
If you want to stay at home for a while,Loft conversionsAnd extensions can add 10-15 percent value, but do your homework first. Get quotes for that kind of work, then a valuation on the house. If it goes above the ceiling price, it might not be worth doing.
One of the biggest mistakes I made on my second or third flip was building a massive extension because there was a large garden. A big extension meant the build cost was higher, and it was semi-detached, so had a ceiling price. Once you’re in a different price bracket, people think, I can buy a detached house for the same price, why would I want a huge semi?
A better option might be a garden room, as more people are working from home, so they are looking for an office space or gym. Alternatively, if you’re planning to sell soon, obtain planning permission or outline planning permission in advance – it’s an easy way to increase value without doing the hard work.