Costs of renovations and conversions
Costs may include:
- structural survey
- planning and building warrant fees
- professional reports (e.g. flood risk, contamination)
- asbestos removal
- project management (typically 10–20% of total cost)
Materials and sustainability
To reduce costs or match the building’s character, consider using reclaimed materials.
Examples:
When renovation costs are too high
If the cost of renovation is unaffordable, you may consider:
- selling the property in its current condition
- applying for a loan or remortgaging
- using a sweat equity arrangement, where a tenant carries out repairs in exchange for reduced rent
Seek independent legal advice before entering any agreement.