26/07/2022
Forget the Mistake, Remember the Lesson....
A recent loveproperty.com article about renovation / refurbishments, reported that following a survey...
Unanticipated costs:
31% underestimated problems arising that require more time and money
60% said that finances are the biggest cause of stress during renovations/refurbishments
26% borrowed money from family or friends to complete the work
Cardiff are just below London for blowing the budget, with the average renovation project going £3,041 over budget.
City - Average cost over budget:
London £4,378
Cardiff £3,041
Liverpool £2,944
Birmingham £2,889
Leeds £2,859
Newcastle £2,834
Norwich £2,647
Manchester £2,559
Nottingham £2,408
Bristol £2,183
Sheffield £2,143
Southampton £2,059
Belfast. £1,972
Plymouth £1,938
Glasgow £1,735
Edinburgh £1,561
Brighton £1,070
Lessons learned:
Changing aspects of the work during the build/refurbishment project, increased cost and time
Living at the property during the renovation, caused additional stress
Focused too much on aesthetics and not enough on functionality and durability
Completed the work themselves to save money
Went with the cheapest quote rather than the most capable tradesperson or company
Please share your stories / advice in the comments below