 Refurbishing to let or sell - the differencesGet the boys in? First of all let us establish your hourly rate! Is it worth paying someone to do the works for you or do it yourself? If you took time off work to do it yourself would you loose more money than paying someone else? Would it take you longer? would you loose all of your free time? You MUST consider that refurbishing a property is very very stressful and lots of divorces and breakups occur during this type of activity. What price are you prepared to pay? If you do get the boys in - get the pizza in too! Nothing beats a happy work force - and you are far more likely to have good work and in the time you want it if you woo your builders! Finance the project We are all different and have different projects - Self employed, Large refurbishment, Full time employee, Small refurbishment, Listed building, Semi commercial, Brown hair blue eyes ... you get my point? You are better off leaving the financing to the professionals - they can match you with the best possible lender to suit your needs. Lenders change their products daily - and no-one is better informed than your mortgage packager. Buy to sell - fix it up and sell it on You may have heard of the term more than one way to skin a cat .... well here we go. You can work smarter or harder take a look at these two options: Option 1 Purchase �140K - Spend �20K, Time 8 +weeks, Re-value �200K, Profit �40K (excluding minor costs) Option 2 Purchase �140K - Spend �2K, Time 2 days, Revalue �180K, Profit �38K (excluding minor costs) Refurbish To Let Build to last and minimise ongoing maintenance. The better you refurbish the less you will have to fork out in ongoing repair costs. my story - What I did to my property, what tenant did, what i do now 5 Tips Business not personal / Spread your risk / Supply - Demand / Network / Action
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