Renovating For Profit with Sarah Williams
Over the course of the next few weeks our architect in residence, Sarah Williams, will be teaching you how to successfully renovate your property. Keep an eye out for future blogs coming soon !
What is a brief?
A brief is a written document that encapsulates your vision, goals and objectives. It articulates the required outcomes such as how the property will be used, your longer term aspirations, room requirements, the level of finish and so on. The brief will evolve but should be frozen or fixed fairly early on so that the works can be properly priced. This is all about ensuring that your project delivers.
What you need and what you want are often quite different and it’s critical that you remember this is an investment property and not your own home.
You derive an enormous amount of value from setting a good brief, a brief;
- Makes you think about all the important issues,
- Makes you think longer term and
- Prompt you to ask questions about everything from how to add value to how much help you need to deliver the project.
- Helps you explain your requirements to your builder.
Why do I need a brief?
It’s important that you establish the scope of work to your property at the outset to ensure it fits within your overall strategy and so that you can determine the level and standard of work that needs to be undertaken.
The work required for refurbishing a property to flip could be different from one that you intend to hold and let. For example, the quality and type of floor finish or fixtures and fittings may well be different in terms of aesthetic appeal, durability and maintenance.
What’s in a brief?
Some basic elements would include, your goals around time, level of support, budget, layouts, numbers of rooms, specification, level of work and so on. You might start out with 10 top goals and then go on to consider your requirements in detail.
You can download the Property Cohort & My Architect Advisor Brief Template here.
On our next instalment we will be exploring whether you need to Refresh, Refurbish, Remodel or Extend?
*This article is for general awareness only and does not constitute legal or professional advice. The law may have changed since this page was first published.