Refurbishment and Renovation Part 1: What’s The Difference?

When it comes to property, the words refurbishment and renovation are often used interchangeably. But there is a subtle difference, and deciding between a refurbishment and a renovation project can make a big difference to your eventual costs, time and profit.

Definitions

To furbish, is to restore, to polish or to return to good condition. In property terms, refurbishment is about making the property good again. It includes decoration but may include new windows or replacing roof tiles for example to make the property look new again.

Flipping a property by updating the decor, installing a new kitchen and landscaping the garden is a refurbishment project. It is generally lower cost, takes less time and is easier to manage.

To renovate is to reinvigorate, revive and make new. When we renovate a property we are generally turning it into something new. This might include include taking out walls, dividing rooms and/or converting rooms for a new use. It relates much more to the structure of a building.

When we convert a family home into a 5 bedroom/5 bathroom shared house we consider that to be a renovation project. But other relatively simple renovations may be moving a bathroom downstairs to make a 2-bed property into a three-bed.

Sometimes a renovation project is needed because of new legal obligations for example to meet energy efficiency standards or fire safety standards.

Renovation projects are generally higher cost. They take more effort and time but the returns can also be much higher. 

With a renovation project you also need to be aware that you may need planning permission and any structural changes may need Building Regulations approval.

Example Refurbishment

We recently refurbished this property on Worcester Avenue in Grimsby. It was a 3-bedroom mid-terrace property which we planned to let as a family home. We re-plastered all of the ceilings and some of the walls, replaced some windows, updated the internal doors, installed central heating, renewed the kitchen, tidied the garden, repaired some leaks and decorated throughout.
The property was bought for £47,500 and we spent around £25,000 on the refurbishment.

Example Renovation

We are currently renovating this property on Welholme Road in Grimsby. We are installing four additional bathrooms, converting two reception rooms to bedrooms and reconfiguring the kitchen and utility space. it was a 3-bedroom mid terrace property and will become a shared house with 5 ensuite bedrooms.

Refurbishment and Renovation

Our next blog post will be looking at whether you need a straight forward refurbishment or full-on renovation for your project.