Renovating an investment property is an exciting, but challenging task to undertake. The goal is to maximise the property's value while minimising costs and disruptions. However, the reality is that property renovations are rarely 100% painless. Unexpected issues can arise, and without proper planning, these can lead to additional costs, delays, and headaches. To help ensure a smoother process and avoid unnecessary expenses, it's crucial to provide your builder with the right information and resources from the outset. Trust us it will make everyones life easier!
Below are the key elements you should prepare and share with your builder to help your renovation project run as smoothly as possible:
Detailed Scope of Works
A detailed scope of works is the foundation of any successful renovation project. This document outlines exactly what needs to be done, covering everything from demolition to the final touches. It should include specific tasks, timelines, and deliverables. The more detailed and clear you are in this document, the less room there is for misunderstandings (and the dreaded overspend!)
By providing a comprehensive scope of works, you help your builder understand the full extent of the project, which allows them to allocate resources efficiently, estimate costs accurately, and schedule work effectively. It also minimises the likelihood of scope creep—where the project expands beyond the original plan, leading to additional costs and delays.
This might look a little scary now, but the more projects you do, the easier a scope of works will become and don't be afraid to ask questions and take lots of notes from your builder to help along the way.
tml top tip - always factor at least 20% contingency (we recommended 20-25%!) when budgeting both spend and time. Speaking from experience they'll always be something unexpected that increases delays and budget!
Clear Outlines of Responsibilities
One of the most common sources of conflict in renovation projects is unclear responsibilities. From the very start, it’s essential to establish who is responsible for what. Are you sourcing materials, or is the builder?
Pssst... if you're sourcing the materials make sure you get the BA Amex card so you can get rewarded for your spend!
Will you be coordinating with other tradespeople, or is that the builder's responsibility?
By clearly defining responsibilities, you can avoid confusion and ensure that everyone knows their role in the project. This clarity helps prevent delays, as the builder won't be left waiting for materials or decisions that you were supposed to provide. It also keeps the project moving forward without unnecessary interruptions.
Floor, Electrical & Plumbing Plans
Providing accurate and up-to-date plans is crucial for your builder to understand the layout of the property, how the renovation will impact the space and how to plan their own schedule. These plans should include measurements, clear placements of electrical and plumbing outlets, and any structural elements like load-bearing walls.
Floor plans allow the builder to visualise the project's scope and make informed decisions about materials, construction methods, timelines and budgets. They also help in identifying potential issues early on, such as conflicts or areas where additional structural support might be needed.
Interior Plans
Interior plans go hand-in-hand with floor plans but focus more on the design elements of the renovation. These plans should detail the aesthetic aspects of the project, such as room layouts, furniture placements, and any custom features you want to include.
Interior plans are essential for ensuring that the finished space aligns with your vision. For your builder, they help them understand your design preferences and make it easier for them to execute the project to your specifications. We've lost count on how many times we've had builders unsolicited interior design opinions at the start of the project, only to be wowed and apologised to at the end when it's all come together so well! Without clear interior plans, you risk ending up with a space that doesn’t meet your expectations, leading to costly revisions and an unsatisfactory results.
Material Specifics
When it comes to materials, specificity is key. Your builder needs to know exactly what materials you want to use, including tile sizes, flooring types, paint colours, lighting options, and any other design elements. Different materials have different installation times and costs, so the more precise you are in your material choices, the better your builder can plan and budget for the project.
For example, choosing a complex tile pattern or smaller tiles may require more time and more grout, which can increase labour and material costs. By providing detailed material specifics upfront, you allow the builder to account for these factors in their planning and avoid surprises later on.
tml top tip - Struggling to keep organised with everything in one place? Forgetting items to add to your material list? Download the tml 'Sourcing for my HMO - Fixtures & finishes' guide to make your life easier!
Renovating an investment property is rarely without its challenges, but proper planning and clear communication can significantly reduce the likelihood of unexpected costs and delays. By providing your builder with a detailed scope of works, clear outlines of responsibilities, accurate floor and interior plans, and specific material choices, you set the stage for a smoother, more efficient renovation process. Remember, while no project will be completely painless, thorough preparation is your best defence against the common pitfalls of property renovation!
