How long is a piece of string but - renovation costs for 2 bed bungalow?

[Bungabung]

Just so you know - the reason I am not just getting people to come and quote is that the bungalow belongs to my widowed MIL who lives next door and we haven't spoken to her about this yet.

My MIL was widowed last year. She owns her house, and also the bungalow next door. We had both valued today (legal requirement of probate) and the estate agent said that the rental market was buoyant in our area. Dh and I were discussing the possibility of renovating the bungalow with a view to renting it out to provide income for MIL, but have no clue of possible costs. It would need complete gutting as its structurally sound (we think) but very dated. Definitely needs a new kitchen and bathroom, full decorating, new carpets. Dh and I both work so would need a contractor to oversee. We are in a town in the SW (not touristy!).

Anyone with any very ballpark idea of what to suggest to MIL as a figure??

What's the situation regarding central heating and insulation?
To rent a property out, an EPC rating of E or better is currently needed but this is changing to a C grading in the next few years. You need an EPC to sell the property as well.

To rent a property out you also need electrical safety and gas safety certificates.
As a ballpark we have fitted a new kitchen in a bungalow in 2022. It cost £3k for units and appliances and another £3k for fitting/tiling.

20k

If you want it project managed (we're both working full time) £70k - finishing next week. Unless you have free time to manage it yourself, don't bother is my advice.

If you’re putting in a new boiler, full electric rewiring plus all you have mentioned, I don’t think you’ll get much change from around £80k. And that’s not high end fittings and you project managing it.

If the rental market is so buoyant, why do you have to do it up?

Excuse me for being cynical, but EAs will do whatever it takes to cling on to their livelihoods at the moment, including telling you to do up an aged property to rent out which they hope you will later do first dibs on them selling.

Before I spent even a nanosecond more trying to figure out refurb costs, I would be booking three alternate EAs to come round and quote for a before refurb and after refurb rental amount.

I don’t think MIL will see good enough returns in her lifetime to feel happy that she sunk tens of thousands into a refurb.

Also, when I gave feedback about the state of trying to get houses done up to an EA trying to sell me a house recently, she told me ‘we have lists of local contractors on our books who can help you quickly’, which now has me convinced EAs take backhanders from the building trade, because I don’t trust a bloody word they say. If a tradesman is available quickly in the current environment, they are either taking backhanders or they are shit.