Hi there,
I am about to embark on the rennovation of an end terrace house, close to town centre which I will be renting out.
Just wondering if anyone has any tips/advice to offer?
The house will be insulated and drylined and pretty much everything else will be done - doors, skirting, architrave, moving kitchen location and putting in a new one/ moving bathroom upstairs to improve layout (new one), putting in a new skylight in flat roof extension area to rear to imorove light, solid fuel stove instead of open fire for living/kitchen area, energy effecient boiler.
Basically, I want to do this house to a good standard but am very conscious of costs...any tips on reducing costs appreciated?
As we all know rents are well back so I want to do this job keenly but at the same time I want t do it properly and dont want to have to come back and do big work again in a few years time.
The house will also have to be fully furnished.
I also want to try to future proof the house as far as possible so what needs to be considered here after the insulation box has been ticked? I want to try to make sure this house will still be attractive to rent in 10/20 years.
Should TV points be put in each bedroom or will this be needed with the advent of digital TV? Any other ideas on this front?
I have had a family friend price the job and am waiting for him to come back with price..
I assume the new furniture/ applicance costs can be written off against rental income over next 8 years. I have fully written off the current furniture which is now dated as I own this house for 8 years. Can I get anything back on capital costs? Do I just keep the receipts for this and use it against a gain if I sell some time in the future (dont intend selling for at least 10 years).
Is there any advantage to getting a loan/adding to mortgaage to fund this work? From what I can work out, I dont think there is and intend funding work from my own finances. Is my thinking right here?
I assume I may be eligible for some small gants for insulation- attic and drylining and for upgrading boiler....I need to check this out.
All ideas and advice appreciated
I am about to embark on the rennovation of an end terrace house, close to town centre which I will be renting out.
Just wondering if anyone has any tips/advice to offer?
The house will be insulated and drylined and pretty much everything else will be done - doors, skirting, architrave, moving kitchen location and putting in a new one/ moving bathroom upstairs to improve layout (new one), putting in a new skylight in flat roof extension area to rear to imorove light, solid fuel stove instead of open fire for living/kitchen area, energy effecient boiler.
Basically, I want to do this house to a good standard but am very conscious of costs...any tips on reducing costs appreciated?
As we all know rents are well back so I want to do this job keenly but at the same time I want t do it properly and dont want to have to come back and do big work again in a few years time.
The house will also have to be fully furnished.
I also want to try to future proof the house as far as possible so what needs to be considered here after the insulation box has been ticked? I want to try to make sure this house will still be attractive to rent in 10/20 years.
Should TV points be put in each bedroom or will this be needed with the advent of digital TV? Any other ideas on this front?
I have had a family friend price the job and am waiting for him to come back with price..
I assume the new furniture/ applicance costs can be written off against rental income over next 8 years. I have fully written off the current furniture which is now dated as I own this house for 8 years. Can I get anything back on capital costs? Do I just keep the receipts for this and use it against a gain if I sell some time in the future (dont intend selling for at least 10 years).
Is there any advantage to getting a loan/adding to mortgaage to fund this work? From what I can work out, I dont think there is and intend funding work from my own finances. Is my thinking right here?
I assume I may be eligible for some small gants for insulation- attic and drylining and for upgrading boiler....I need to check this out.
All ideas and advice appreciated