Estimating Refurb Costs Like a Pro on Property Visits

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[Real_Matt]

This is the sort of fantastic content newbies really need to see. I wish I had this when I started out. When I bought my first BTL in 2017 I genuinely didn't have any real idea what the refurb would cost. Thought it would cost about £10k ended up costing nearly £30k.

[brucewatt]

Thank you for taking the time to put this comprehensive refurb cost guide together Justin - I’ve been trying to find something like this for ages. Living in London, I know these costs for my flat are going to be somewhat more expensive than where you are, but it does give me a balanced idea of where my costs are going to be heading, so Cheers!

[AndrewSandilands-tkst]

Thank you for taking the time to put together such an interesting and helpful video. I feel it is likely accurate for the north, but on average would be roughly double these prices in the south.

[deearis]

My Mentor !!!! Glad to part of your team 💯💯💯

[karenferns]

Very realistic pricing Justin.! Quotes can be soooo varied but experience & knowledge are key..!! Thanks.

[areyoutryingtosay]

I'd agree on most of the pricing, some are a bit on the low side. but the plastering price is way off in my experience. It does depend on a lot but just skimming alone for a whole 2 bed house including ceilings in North West is going to cost £4k minimum

[premierpetcaretraining]

Great video Justin and came at a perfect time for me! Learning so much from you 😊

[chrisgray]

How much did you charge the client for managing the refurb ?

[ramboah]

how much did the property cost maybe you can start with that

[leeyo]

fancy doing your refurbs and surface mounting the plumbing rad pipes at 17:40 between the 2 rads, when it would only have took 10 mins to hide them behind the skirting board, not the best work at all

[cristoff]

Great video. Why so expensive to paint just the front? Does it require a special kind of paint? Or several layers? Thanks!

[dtawantawng]

Thanks, Justin. Brilliant video. I always struggle when estimating refurb costs when looking at properties as I've never done one myself - the number magically alays ends up being 30k + as I try to be very conservative 😅 I want to learn more about the process and tips and tricks for refurbs, can you recommend any books or blogs or videos that I can learn from? 😄

[rajmalhotra]

Hi Justin, a very informative, impressive, intelligent, important, incisive and personally for me both inspirational and insightful and thank you for sharing

[thethinkingman]

Hi, can I ask what you would consider to be a healthy loan to value across all your properties?

[guyanagold]

Do you not install insulated plasterboard on the external walls to help achieve a C on the EPC?

[sathish]

This is gold dust. Obviously the prices are less compared to the prices in South East. Just to fill some holes in the wall the plaster we are charging £1500 outside London.
These prices are good as guidelines what do you suggest in the video. I think you should do one such video every year and from different parts of the country. That will be really really useful.

[iangarforth]

So useful - thanks so much.

Many BRRR properties I see have understandably terrible EPC performance. It would be really useful to have some ballpark figures for insulation costs, or other costs associated with EPC performance - although perhaps it's not a priority in the BRRR space? Am interested either way! (Like, for example, would you ever consider air source heat pumps instead of boilers, or is that technology just too far away and unproven at the mo?)

Thanks, though - great content

[mahaduzair]

excellently explained the whole process, the associated costs and the process breakdown, LOVED IT! subscribed and liked! please keep posting different projects!

[onhno]

Cheaper than 3k????
Here's a price from an electrician...

For bare shell installations, that is no chasing required all plaster removed with exposed brick & beams.
For a standard semi, small detatched property or apartment.

I'd charge 1k flat rate plus additional 1k each bedroom, garage, utility, media room, or outbuilding.

For this spec you would get a new fuseboard with up to:
2 lighting circuits
3 socket circuits
1 smoke alarm circuit (inc. 2 detectors)
1 cooker circuit
1 shower circuit

All with standard white accessories.

This property would cost 4k minimum!!!
Anything else is extra.

[breatheslowrelaxtionmusic]

Why wouldn't you check out Wren? They are cheaper than wicks and have a better design service than DIY?

quality is great aswell! 👍🏻