Starting a property restoration project can be a rewarding but challenging endeavour. Here are ten “Need To Know” points to consider before embarking on such a project:
- Regulations and Permits: Familiarize yourself with local building regulations and obtain the necessary permits and planning permissions before commencing any restoration work. Failure to comply with these regulations could result in fines or delays.
- Budget and Financing: Create a detailed budget for the restoration project, including all costs for materials, labour, permits, and contingencies. Consider how you will finance the project, whether through personal savings, loans, or other funding options.
- Property Survey: Conduct a thorough property survey using a RICS Chartered Surveyor to assess the current condition of the building. This will help you identify potential issues and create a comprehensive plan for the restoration work.
- Expert Advice: Seek advice from professionals such as architects, structural engineers, and contractors who specialize in property restoration. Their expertise will be invaluable in planning and executing the project successfully.
- Timeframe: Set realistic timelines for each phase of the restoration project. Be prepared for unexpected delays, which are not uncommon in restoration work due to unforeseen structural issues or material availability.
- Conservation and Preservation: If the property is listed or has historical significance, it may be subject to conservation and preservation rules. Ensure you understand and adhere to these guidelines to maintain the property’s historical value.
- Insurance: Obtain appropriate insurance coverage for the restoration project, including liability insurance and insurance for the building and its contents during the restoration process.
- Sustainable Practices: Consider incorporating sustainable and eco-friendly practices into the restoration project. This may include using recycled materials, energy-efficient systems, and environmentally friendly construction techniques.
- Building Materials: Source high-quality materials that are in keeping with the property’s original design and character. Using authentic materials will contribute to the authenticity and longevity of the restoration.
- Contingency Plan: Always have a contingency plan in place for unforeseen events or additional costs. It’s essential to be prepared for any unexpected challenges that may arise during the restoration process.
Remember that property restoration projects can be complex and time-consuming, so proper planning and thorough research are crucial for a successful outcome. Engage with local communities and heritage organizations as they can provide valuable support and insights throughout the restoration journey.
Domestic restoration projects in the UK are popular, driven by several factors:
Historical Properties: The UK is rich in historical buildings and properties with significant architectural and cultural value. Many property owners take pride in restoring and preserving these historic structures, maintaining the country’s heritage.
Increased Interest in Home Improvement: Home improvement has been on the rise in the UK. Property owners are increasingly investing in their homes, and restoration projects can be a way to add value and create unique living spaces.
TV Shows and Media: The popularity of TV shows and media coverage centred around home renovation and restoration has inspired many homeowners to take on similar projects. This increased media exposure has contributed to the appeal of domestic restoration projects.
Renovation Grants and Incentives: In some cases, local authorities or heritage organizations offer grants or incentives for restoring historical properties, encouraging property owners to undertake restoration projects.
Airbnb and Short-Term Rentals: The rise of short-term rental platforms such as Airbnb has created a demand for unique and visually appealing accommodations. Some property owners take on restoration projects to convert historic or unusual buildings into charming vacation rentals.
At MGY we have an experienced team of RICS Chartered Surveyors & Registered Valuers offering a range of professional services including residential and commercial valuation surveys. We are experts in our field with over 36 years’ experience in restoration and refurbishment work, for more information please feel free to email mark.iles@mgy.co.uk or simon.garay@mgy.co.uk
