Renovation Costs

[croon979]

Trying to get an idea of how much it may cost to renovate a large 4 bedroom bungalow (3000 ft2). Considering putting an offer in on one. No extension is required as the footprint size is great. We would like to knock through between the existing kitchen and snug. We would also wish to knock through the bathroom and separate loo to make one big family bathroom. Don’t believe that either of the walls we would be knocking through are load-bearing. After that the bungalow needs gutting, new flooring throughout and all walls/ceilings skimmed. I was thinking £100k may do it? This is based on the following:

£30k for new kitchen
£10k for knocking through the two walls
£20k for new bathroom and new en-suite
£10k for any rewiring and plumbing
£20k decoration costs (flooring walls etc)
£10k for window replacement/ bifolds

Does this sound reasonable? What have I forgotten? Anything I have under budgeted for?

Bungalow was built in 80s as is in generally hood condition.

Anyone done a similar project?

Words of wisdom appreciated!

Sorry just realised an old thread !

No worries - it was an old thread but, by way of update..we didn’t proceed with that purchase. To cut a very long story short, we got the survey back on the property and the surveyor effectively undervalued the property by £100k under the offer we had made and this caused issues with our mortgage offer. There were lots of problems with it. Due to the funds we had to hold back to renovate the property we could not justify paying so much over the market rate for get house. We tried to renegotiate but they would not entertain anything so we had to walk away from it. The property stayed on the market for another year and it ended up selling for even less than the surveyor valued it at (about £150k under our offer). Just goes to show how unrealistically priced it was to start with. So all in all, I think we dodged a bullet as I think it would have been a money pit.

We did however end up moving to a lovely house - didn’t need any work doing to it and have been happily living here for 18 months. All’s well that ends well and I have to say that, whilst I fully think that renovation can be amazing as you can create exactly what you want, I can’t help feeling relieved that we haven’t had to do it.