Sunday, 19 September 2021

Are you a doer-upper or turning the key?

Are you a doer-upper or turning the key?

When it comes to where you live, do you prefer to turn the key and relax on the sofa or do the place up and move on, asks KATIE BALDWIN of Savills (pictured)

THE prospect of renovating a house tends to divide opinion.

For some, a sense of accomplishment comes from the challenge of creating a dream home from the bare bones of a property.

For others, enjoyment comes from knowing a dream home is ready and waiting to be moved into.

So how can you determine which is the best option is for you? Here are some of the benefits and drawbacks of both to help you make your next move.

The pros and cons of a turn-key property

Firstly, and most obviously, turn-key properties are less time-consuming and tend to be hassle-free. There’s no worrying about any potential issues and you can simply turn up with your removals van and move straight in.

The condition of the property tends to be very high. Newly built homes, in particular, offer an unrivalled standard of finish and many come with a snagging period meaning that if something isn’t quite right, it can be easily rectified.

You don’t need to worry about finding alternative accommodation while renovation works are taking place.

One possible downside is that you don’t get much creative input. The layout is already configured, the colour palette has been chosen and the garden has been landscaped.

Of course, if you do want to make aesthetic changes, they can be done in your own time and without spoiling your enjoyment of the property.

The pros and cons of a doer-upper

With a doer-upper you have complete creative control and freedom within the constraints of the building.

Every element of the design and layout can be decided by you and everything will be just as you want it.

Doer-uppers give a fantastic feeling of achievement, which lasts throughout your time in the property.

There is nothing more satisfying than always being surrounded by the rewards of your own hard work.

If you’re willing to put the work in you can sometimes bag a bargain or a hidden gem.

Properties requiring a lot of work are priced accordingly and if you team this with smart renovations, you can end up cost-saving in the long run.

Additionally, there are charming period houses across the country in need of a new lease of life, so you might find a diamond in the rough.

The three main cons are that renovating a property can be stressful at times, as well as time-consuming and costly.

It’s very important when you are undertaking a major renovation that you keep on top of costs and timings to stop the project from running away from you.

Always allow some wiggle-room in your budget for the inevitable incidentals.

Katie Baldwin is associate director of Savills Henley

Property