There are spiralling costs, hidden disasters - and that’s before you start thinking about the DIY accidents that can land you in A&E. We reveal the scary truth behind buying a 'doer upper' and answer the question: Is renovating a house worth it in the UK?
How much does it cost to renovate a house in the UK?
The costs of renovating a house or an older property will vary, depending on the condition, location and a variety of other factors. However, it's always a good idea to get a full structural survey done so you understand what you're dealing with - these can cost up to £1,500 alone. Generally, it costs around £50,000 to bring an older home to the standard of a new build. But it’s not just the price in monetary terms that makes renovation costly.
- A 2020 study found that 5,600 amateur builders needed hospital attention after incidents with an electric tool
- That year, 2,700 people sought medical attention after an accident with a non-powered hand tool (i.e. a saw or hammer)
Renovating an old home might seem like the perfect project to get stuck into, but hidden problems can make the months turn into years, and the anticipated costs can easily spiral. If you consider buying an older home with a view to renovating it you can always check for issues, but some things won’t become obvious until you’ve begun the work. Individual jobs can soon add up: £2,700 if the property needs a new boiler, £10,000-plus if you need a new kitchen and, if you discover damp, you can look forward to saying goodbye to up to £16,000.
DIY accidents when renovating a house
Renovating a house is not as easy as it looks. Many people opt to do the renovation work on a house themselves to save money - but that can actually end up costing more in the long run - and not just in terms of your bank balance. Getting it wrong can cost hundreds and even thousands to get the professionals in to put it right, and when it comes to electrics you should adopt a safety first approach. Even the most proficient DIYers can botch things up - and some even end up in A&E.
In 2020-1, as thousands turned their attention to household DIY tasks, NHS England calculated more than 5,000 amateur builders required hospital attention after incidents with an electric hand tool, and 2,000+ people sought medical attention after an accident hand tool like a hammer or saw.
Potential problems and nightmare renovations
We’ve all seen the film, The Money Pit, where Tom Hanks and Shelley Long use their life savings to buy a beautiful but dilapidated old house. It’s a comedy of course - but that scenario would be far from funny in real life!
Megan Jones and partner Phillip McGrath didn’t know what they were letting themselves in for when they bought an older house, but some of the walls were so uneven they ended up knocking one down. They discovered the whole property needed rewiring - and they couldn’t live in it for four months.
And first-time buyers Kate Logan and partner, Chris Whitehouse, bought a 1930s semi to refurbish in a bid to save money. “Five years on, we still have a huge ‘to do’ list including a new roof, it feels like it’s never-ending,” Kate said. “We’ve knocked down walls, completely renovated the kitchen and bathroom, re-done the electrics and re-plastered every room. The stress and financial burden at times has been huge.”
And so – to the benefits of buying a new home
It might seem obvious, but one of the first benefits of buying a new build is that you can just move in and enjoy your home. Barring the odd picture and mirror to hang, all the work is done for you and it will be ready to live in.
There are no nasty surprises lurking around the corner, and no major work you’ve not budgeted for. With Redrow, you’ll have a low-maintenance modern home - with beautiful open plan areas, en-suite bathrooms and, having carefully chosen the right home from our Collections, spaces to suit every aspect of your life.
Plus, because it’s newly built, your new house will have every economic advantage from up-to-date efficient boilers and central heating systems to draught-proof double-glazed windows that keep the heat in and the cold out, and the best insulation. There are so many benefits when it comes to new homes and efficiency, so you'll find yourself cutting down on energy bills straight away. There are lots of incentive to ease any financial burden, and new homes are protected by NHBC Buildmark or an equivalent 10-year warranty, so you get more peace of mind still.
So if you want to avoid renovation pain, start your search for a new home today.
