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	<title>Property Investment &#187; Property Development</title>
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	<link>http://www.propertyinvestmentproject.co.uk/blog</link>
	<description>DOCUMENTING ONE MAN&#039;S JOURNEY TO BECOMING A PROPERTY MILLIONAIRE</description>
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		<title>How To Paint A Front Door</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/how-to-paint-a-front-door/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/how-to-paint-a-front-door/#comments</comments>
		<pubDate>Sat, 22 Mar 2008 01:25:52 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2008/03/22/how-to-paint-a-front-door/</guid>
		<description><![CDATA[Right, so I got an email the other day about someone enquiring about how to paint a front door. Problem is, I&#8217;ve never really self-proclaimed my expertise as being a [...]]]></description>
			<content:encoded><![CDATA[<p>Right, so I got an email the other day about someone enquiring about how to paint a front door. Problem is, I&#8217;ve never really self-proclaimed my expertise as being a general renovation handyman. In fact, I don&#8217;t think I&#8217;ve ever claimed to be an expect in any property related field. However, whenever I get an email from someone wanting advise on an issue that I lack solid knowledge on, I&#8217;ll do my own research to solve the riddle. Of course, the person who asked the question could have done their own damn research, but I don&#8217;t really mind, because it gives me an excuse to learn.</p>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/frontdoors.jpg" width="630" height="322" alt="How To Paint A Front Door" title="How To Paint A Front Door" class="border" /></p>
<p>Here&#8217;s the emai:</p>
<blockquote><p>Hello,<br />
I read an article (<a href="http://www.propertyinvestmentproject.co.uk/blog/easily-fixable-features-that-puts-buyers-off/" title="Easily Fixable Features That Puts Buyers Off">Easily Fixable Features That Puts Buyers Off</a>)on your site about how the door colour of a property matters when it comes to first impressions and attracting homebuyers. I&#8217;m currently trying to sell a house but it has a very unattractive front door. I don&#8217;t want to buy an entire new door because it will cost too much but I want to give it a fresh look by painting it. Can you please advise on what the best way to paint a front door is.<br />
Thanks in advance</p></blockquote>
<p>My friend Robbie happens to be a very skilled carpenter and property renovator, so I went to him for answers. This is what he came back with.</p>
<h5>Equipment you&#8217;ll need to paint a front door</h5>
<ul>
<li>Most importantly, a good quality paint. Getting the right paint is imperative to achieve a good finish. Satin, eggshell or gloss paints are all suitable, although gloss paint will be the most hard-wearing.</li>
<li>Screwdriver</li>
<li>Filler</li>
<li>Paint scraper</li>
<li>Cloth and sugar soap</li>
<li>Sandpaper</li>
<li>Like with the paint, you&#8217;ll need a good quality paintbrush. It&#8217;s easy to fall for the trap of purchasing a £1 brush, because the general thought is, &#8220;all brushes are the same, and I&#8217;ll never reuse this&#8221;. Wrong. Brushes aren&#8217;t all the same, they vary in quality drastically. A good quality brush will keep its bristles and shape, which will reflect on the brush strokes.</li>
</ul>
<h5>How to paint a door</h5>
<p>1) Use the screwdriver to unscrew the door handle, along with any locks and plates you may have. One thing is for sure, nothing looks worse than door locks and plates that have the marksmanship of an unsteady painter. Take every fitting off the door.</p>
<p>2) Use the paint scraper to thoroughly remove any flaking paint and rough surfaces.</p>
<p>3) If the door has any holes, fill them with the filler.</p>
<p>4) Once the filler has dried, clean the door thoroughly with sugar soap. The solution is alkaline, a dry powder, used for cleaning paintwork in preparation for repainting. An alternative to prepare paintwork for painting is to clean the painted surface with &#8220;household ammonia&#8221; or ammonium hydroxide.</p>
<p>5) Sand down the surface with sandpaper. Sandpaper creates an adhesive surface for the paint. If you fail to sand down the surface properly the paint is likely to flake off after a few months. If your door already has gloss paint, use medium grade sandpaper to flatten off the sheen.</p>
<p>6) Now is the time to start painting. The golden rule here is to always paint in the same direction as the grain.</p>
<p>7) Painting the door isn&#8217;t a competition. Paint slowly and refrain from using too much paint or it will flood in the grooves. The best way to avoid the pooling of the grooves is to use a light first coat and reapply a second moderate coat.</p>
<p>8.) After the first coat is dry, you&#8217;ll need fine sandpaper to down the surfaces again. Paint the second coat in the same way- follow the direction of the grain. A solvent-based gloss, satin or eggshell will be touch-dry in 8 hours, but wait about 16-24 hours before painting a second coat, just to be safe.</p>
<p>9) Congratulations, you&#8217;re all done!</p>
<p>If anyone else has any other tips, let me know! Big thanks to Robbie for the tips!</p>


<p>Related posts:<ol><div><img src='/images/articleimages/changedoorlocks.jpg' height='100' width='58' title='My Tenant Has Changed The Door Locks, Can He Do that?' alt='My Tenant Has Changed The Door Locks, Can He Do that?' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/my-tenant-has-changed-the-door-locks-can-he-do-that/' title='My Tenant Has Changed The Door Locks, Can He Do that?'>My Tenant Has Changed The Door Locks, Can He Do that?</a></span></div>
<div><img src='/images/articleimages/angry.jpg' height='100' width='58' title='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit' alt='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/im-bored-of-painting-over-bad-taste-and-moudly-shit/' title='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit'>I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit</a></span></div>
<div><img src='/images/articleimages/boom.jpg' height='100' width='58' title='Easily Fixable Features That Puts Buyers Off' alt='Easily Fixable Features That Puts Buyers Off' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/easily-fixable-features-that-puts-buyers-off/' title='Easily Fixable Features That Puts Buyers Off'>Easily Fixable Features That Puts Buyers Off</a></span></div>
</ol></p>]]></content:encoded>
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		<slash:comments>2</slash:comments>
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		<title>I Have A Small Bathroom: Shower Vs Bath</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/i-have-a-small-bathroom-shower-vs-bath/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/i-have-a-small-bathroom-shower-vs-bath/#comments</comments>
		<pubDate>Fri, 28 Dec 2007 10:45:58 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/12/28/i-have-a-small-bathroom-shower-vs-bath/</guid>
		<description><![CDATA[I received an email the other day from Darren, he wanted to know how the value of a property would be affected if he decided to replace his bath with [...]]]></description>
			<content:encoded><![CDATA[<p>I received an email the other day from Darren, he wanted to know how the value of a property would be affected if he decided to replace his bath with a shower cubicle. It&#8217;s a good question, and i&#8217;m sure others have been in a similar situation.</p>
<blockquote><p>Hi,<br />
My wife and I are thinking of re doing our bathroom, it isn&#8217;t very big and we are thinking of takeing the bath out and just having a shower cubicle&#8230;..do you think this would reduce the value of the property?</p>
<p>Darren</p></blockquote>
<h5>The Situation</h5>
<p>I assumed that the property Darren is referring to is a small property with only 1 bathroom, as opposed to him referring to a 2nd bathroom. So i&#8217;m going to base my answer on that scenario.</p>
<p>There are a lot of reasons why someone may want to replace their bath with a shower cubicle; the main reasons being to create space or simply because the bath is unused. In many cases a bath doesn&#8217;t suit the lifestyle of many people.</p>
<h5>Bathrooms are valuable</h5>
<p>Bathrooms are extremely valuable; they do have potential to add/reduce value to a property, so it&#8217;s important to get them right. A lot of people put great importance into a bathroom, especially those that like to kick back and relax in a hot tub after a long day at work. Additionally, in a family market, extra bathrooms can add significant value.</p>
<h5>Know your target market</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/smallbathroom.jpg" width="200" height="204" title="Small Bathroom" alt="Small Bathroom" align="left" class="border" /> Before making any decisions, you need to know which kind of market your property will appeal to when selling. I think the key factor that we can extract from the email is that he has a small home with 1 or 2 bedrooms. If that&#8217;s the case, I think it&#8217;s safe to say that he&#8217;ll be targeting couples, first-time buyers or investors, consequently eliminating the family audience. A small house with a small bathroom won&#8217;t be suitable for a family, so the odds of a family purchasing the property will be unlikely. Since that&#8217;s the case, investors and couples shouldn&#8217;t be phased too much by there being no bath. Essentially, I don&#8217;t think the value of the property will be affected, but you do run the risk of limiting your market, and that can be a major problem when it comes to selling. A lot of young couples are constantly on the move, especially young professionals, so it maybe more convenient for them to have a shower. However, every now and then they may want the luxury of wanting to relax in a hot tub.</p>
<p>While replacing the bath with a shower cubicle may not affect the value for young couples and investors, it&#8217;s imperative to always finish the bathroom to a high standard, because that will definitely affect the value of the property. So no matter what you decide to do, plan the space well and finish it with quality. At the end of the day, when you&#8217;re talking about a small house with a small bathroom, it&#8217;s the quality that will be affect the value the most drastically.</p>
<h5>Ask your estate agent</h5>
<p>If you&#8217;re really unsure about what to do and are concerned about the value of your property, you should consult your local estate agent. Your agent will know the local market, consequently he/she will know a) what type of people buy the property you live in b) what they look for in those properties. As in an incentive for your estate agent, just tell him/her that when it comes to selling, you plan on using their agency. Keep them sweet.</p>
<h5>What would I do?</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/smallbathroom2.jpg" width="185" height="190" title="Small Bathroom" alt="Small Bathroom" class="border" align="left" />If there&#8217;s enough space to fit a bath, like there obviously is in Darren&#8217;s case, then I would make a compromise. There are some great bathroom suites available these days, so the lack of options shouldn&#8217;t be a problem. While a standard sized suite may make the space look cramped, there are a lot of suites designed for smaller bathrooms. These suites are designed for small space, they aren&#8217;t physically as big as the standard suites, but everything looks in proportion. Suites like these maybe more costly, since they&#8217;re custom, but they&#8217;re definitely worth it. I would get a custom suite that offers a bath, which can also be used as shower cubicle. That way I get the best of both worlds. In conclusion, if you can comfortably fit a bath into the bathroom plan, then have one, otherwise you&#8217;ll most certainly limit your market, even if you don&#8217;t necessarily hinder the value of your property.</p>
<h5>Extra Tips for small bathrooms</h5>
<ul>
<li><img src="http://www.propertyinvestmentproject.co.uk/images/smallbathroomcramped.jpg" width="250" height="166" title="Small Bathroom" alt="Small Bathroom" class="border" align="left" />For a small bathroom, you may have to consider your choice of colour carefully, as this is going to have an impact upon the feeling of space within the room. The natural light that comes into a smaller room is likely to be limited. Try using lighter tones and colours to give the appearance of space.</li>
<li>Making use of wall hung fittings will help save much space and give a much more modern feel, but make sure you keep it simple and don&#8217;t overcrowd the walls. Simple fittings like towel racks will work well.</li>
<li>No matter how small or big your bathroom is, make sure the finish is to a high standard. A badly finished, big bathroom won&#8217;t be as valuable as a small bathroom that&#8217;s finished to a high standard.</li>
<li>When you&#8217;re limited for space, less is more. Only put in the essentials, and don&#8217;t overcrowd the floor space</li>
</ul>


<p>Related posts:<ol><div><img src='/images/articleimages/money.jpg' height='100' width='58' title='How To Increase The Value Of Your Property' alt='How To Increase The Value Of Your Property' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/increasing-value-of-houses/' title='How To Increase The Value Of Your Property'>How To Increase The Value Of Your Property</a></span></div>
<div><img src='/images/articleimages/owntaste.jpg' height='100' width='58' title='Don&#8217;t Cater For Your Own Taste When Developing Property' alt='Don&#8217;t Cater For Your Own Taste When Developing Property' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/property-developers-dont-cater-for-your-own-taste/' title='Don&#8217;t Cater For Your Own Taste When Developing Property'>Don&#8217;t Cater For Your Own Taste When Developing Property</a></span></div>
</ol></p>]]></content:encoded>
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		<slash:comments>5</slash:comments>
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		<title>Carpet vs Wooden Floor</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/carpet-vs-wooden-floor/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/carpet-vs-wooden-floor/#comments</comments>
		<pubDate>Fri, 30 Nov 2007 14:35:05 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/11/30/carpet-vs-wooden-floor/</guid>
		<description><![CDATA[Wooden flooring has become the cornerstone of modern style for many homebuyers; they&#8217;re an extremely sought after commodity. It&#8217;s not surprising; they look great, they&#8217;re easy to maintain, and they [...]]]></description>
			<content:encoded><![CDATA[<p>Wooden flooring has become the cornerstone of modern style for many homebuyers; they&#8217;re an extremely sought after commodity. It&#8217;s not surprising; they look great, they&#8217;re easy to maintain, and they have the potential to make an ordinary room standout with a bit of contemporary style. For those reasons buyers do favour wooden flooring over carpet (at the moment).</p>
<h5>Will Wooden Flooring add value?</h5>
<p>While they look great and provide convenience, it wouldn&#8217;t be worth going through the trouble of installing them into a development project if they won&#8217;t add value. There are many different types of wood flooring you can install and it can be done to suit all price ranges, but it&#8217;s only the quality wood and quality finish that will add the real value in price and consumer appeal. But I guess the same principle applies to any fixture these days.</p>
<h5>There is no substitute for real wood</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/hardwoodflooring.jpg" width="250" height="282" title="Hardwood Flooring" alt="Hardwood Flooring" class="border" align="left" />There is a wide range of wooden flooring available, and each type of wood has its own individual pros and cons. But the general rule is that quality does count, so going for the cheaper option can cost you- the thicker and wider the wood the better.</p>
<p>It&#8217;s important not to confuse laminate flooring with real wooden floors, as laminate flooring is unlikely to add any value to a property. Real wood floors, also known as solid hardwood flooring, is what will make your property ooze with style. If money is no object then hardwood flooring is a no-brainer. The main thing to remember is real wood flooring reacts badly to moisture, so you should never lay it in any areas where a lot of humidity is present.</p>
<p>Laminate flooring has become increasing popular in recent years because it&#8217;s a cost affective alternative, and at a glance, can deceive the naked eye into thinking it&#8217;s the real deal. But more often than not, they can look shiny and fake.</p>
<h5>Difference between real wood flooring and laminate</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/laminateflooring.jpg" width="250" height="427" title="Laminate Flooring" alt="Laminate Flooring" class="border" align="left" />Laminate flooring looks just like traditional wood flooring but is, in fact, a thin layer of decor paper placed under a tough-as-nails protective film. Decor paper is actually a photographic image of a certain type of wood. This picture is then glued and pressed to a high-density backing board. Despite appearances there is no real wood in a laminate board at all.</p>
<h5>Carpet is better than laminate flooring</h5>
<p>If there&#8217;s a toss up between laminate flooring and carpet, carpet should win every time, providing that it&#8217;s tasteful and in mint condition. Real wood flooring is a bonus, carpet is expected and laminate flooring is a downer, especially if it looks laminate.</p>
<h5>Where to apply wooden flooring?</h5>
<p>It&#8217;s important not to get carried away with wooden flooring for two specific reasons. Firstly, not everyone will want wooden flooring to infest an entire property, they can become overbearing, so you could be cornering your market with such a bold move. Wood flooring may look the business, but it certainly isn&#8217;t as comfortable as carpet on the feet, so choosing carefully where you want to lay wood and carpet would be advisable. You can never guarantee who is going to view your home therefore I would suggest playing it safe and catering for the middle ground. For example, apply wooden flooring on the ground floor, where it will make the most impact and apply carpets in theÂ bedrooms and tiled flooring in the kitchen and bathrooms. But hey, you can pick and choose, just don&#8217;t over do it.</p>
<h5>Gold under the carpet</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/woodenbeforeafter.jpg" width="300" height="107" alt="Before and after wooden floor" title="Before and after wooden floor" class="border" align="left" />Before splashing out on wooden floors to replace your tired carpets, it might be worth checking underneath the existing rags. You might be surprised, there could already be quality flooring sleeping, untouched. Nothing can beat authentic, solid, hard wood flooring. If lady luck is on your side, you&#8217;ll have a lush, traditional array of wooden flooring that only needs a bit of TLC with sand paper and a lick of varnish to add a bit of vitality.</p>


<p>Related posts:<ol><div><img src='/images/articleimages/green.jpg' height='100' width='58' title='Tips On How To Make Your Home &#8216;Green&#8217;' alt='Tips On How To Make Your Home &#8216;Green&#8217;' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/tips-on-how-to-make-your-home-green/' title='Tips On How To Make Your Home &#8216;Green&#8217;'>Tips On How To Make Your Home &#8216;Green&#8217;</a></span></div>
</ol></p>]]></content:encoded>
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		<title>Will A Loft Conversion Add Value?</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/will-a-loft-conversion-add-value/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/will-a-loft-conversion-add-value/#comments</comments>
		<pubDate>Sun, 18 Nov 2007 18:43:56 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/11/18/will-a-loft-conversion-add-value/</guid>
		<description><![CDATA[With the dramatic increase in house prices it&#8217;s no surprise that people aren&#8217;t able to afford upgrading to bigger, more suitable homes. A lot of families are finding themselves in [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://www.propertyinvestmentproject.co.uk/images/loftcon.jpg" width="362" height="236" title="Loft Conversion" alt="Loft Conversion" class="border" align="left" /></p>
<p>With the dramatic increase in house prices it&#8217;s no surprise that people aren&#8217;t able to afford upgrading to bigger, more suitable homes. A lot of families are finding themselves in situations where they need more living space as their families are growing. As a solution, people are starting to build upwards- converting lofts into suitable areas for habitation. It&#8217;s a significantly cheaper solution than moving homes. It&#8217;s not just expanding families that are exploring the loft conversion route, but also developers, in hope to add value to a property.</p>
<h5>So, will a loft conversion add value to a property?</h5>
<p>Loft conversions are one of the most useful ways to add value, with extra space coming high on the wish list of potential buyers. Loft conversions have the potential to add value by a large amount, but at the same time homeowners could be throwing money away if they get it wrong. Various factors come into play that determines whether a conversion will add value. The best way to grip onto a conclusion is by getting in touch with a few local estate agents to find out whether the conversion will benefit financially. The value will often depend on other houses in the area and whether they have a loft conversion or not. Additionally, over-developing the wrong property can be a costly mistake in terms of adding value.</p>
<h5>How much will a loft conversion cost?</h5>
<p>The pricing structure can vary drastically, depending on location and the complexity of the work. Basic conversions can start at around Â£10,000. This rises to &pound;25,000 &#8211; &pound;40,000 for a more complete conversion, perhaps with ensuite bathroom and with a dormer window, which changes the shape of a room considerably and maximises its living potential.</p>
<h5>Types of loft conversions</h5>
<p>There are three main types of loft conversions:</p>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/loft_types.gif" width="430" height="97" title="Types of loft conversions" alt="Types of loft conversions" /></p>
<h5>Rooflight/Velux</h5>
<p>This option involves converting the existing space and adding roof lights flush to the roof. It&#8217;s the least disruptive method. This option is generally adequate for those contemplating the smaller loft conversion, generally for a single bedroom; study etc</p>
<h5>Dormer</h5>
<p>If the existing loft space is not large enough to accommodate the proposed conversion, a dormer extension can be a good option. It creates extra headroom.</p>
<h5>Mansard</h5>
<p>This type of conversion is popular with inner London local authorities. The roof space is extended to the rear and sometimes to the front &#8211; usually they have brick sides and vertical windows.<br />
Again, it might be worth discussing these options with your estate agent to determine which would add most value.</p>
<h5>Loft conversion tips</h5>
<p><strong>Is your loft big enough?</strong><br />
You need to consider how much space you can actually squeeze out of your loft once the conversion is complete. There&#8217;s no point converting your loft into a room if there&#8217;s not enough space to serve its purpose as a comfortable room- you&#8217;ll need up with very expensive storage space. A lot of lofts are restricted by height, so don&#8217;t just measure the floor space, you need to measure how much space you will have in which you can actually stand in. Using a good architect will aid you in designing a plan that will give you the best results.</p>
<p><strong>Planning permission</strong><br />
You will need some kind of planning permission or permit from the local planning authorities to convert your loft. Failing to get permission before making any structural changes can be a costly mistake, as the local authorities can make you restore the loft to its permitted condition. Planning permission alone can add value to the property, even if the work doesn&#8217;t get executed.</p>
<p><strong>Forget cheap finishing</strong><br />
Loft conversions are complicated transformations that only work well when done properly. Ensure the conversion is finished to a high standard; otherwise you could be pouring money down the drain. Cheap conversions are easy to spot.</p>
<p><strong>Get the best quote</strong><br />
Loft converting is an extremely competitive industry, so prices can vary drastically. Ensure you get several quotes from builders and make enquiries about previous work they have completed so you can get references. However, seeking a builder through recommendation is always the best option.</p>
<p><strong>Meet the essential regulations</strong><br />
For a loft to be classed as a living space, such as an extra bedroom, it is essential that the loft conversion has a proper staircase, windows and meets fire and building regulations. An agent will not be able to class this space as anything other than a storage room if those regulations aren&#8217;t met and there will be very little, if any value added.</p>
<p><strong>Make the conversion apart of the house</strong><br />
A loft conversion should not look or feel like an add-on. The staircase is the key to making a conversion look as though it is part of the original house. Wherever possible the stairway should be a natural continuation of the house so that the transition from â€˜old&#8217; to â€˜new&#8217; is seamless. The conversion itself, in terms of style should follow that in the rest of the house.</p>


<p>Related posts:<ol><div><img src='/images/articleimages/money.jpg' height='100' width='58' title='How To Increase The Value Of Your Property' alt='How To Increase The Value Of Your Property' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/increasing-value-of-houses/' title='How To Increase The Value Of Your Property'>How To Increase The Value Of Your Property</a></span></div>
<div><img src='/images/articleimages/danger.jpg' height='100' width='58' title='The Dangers Of Buying A House With An Extension' alt='The Dangers Of Buying A House With An Extension' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/buying-a-house-with-an-extension/' title='The Dangers Of Buying A House With An Extension'>The Dangers Of Buying A House With An Extension</a></span></div>
<div><img src='/images/articleimages/furniture.jpg' height='100' width='58' title='Should I Offer My Property As Furnished Or Unfurnished?' alt='Should I Offer My Property As Furnished Or Unfurnished?' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/to-furnish-or-not-to-furnish/' title='Should I Offer My Property As Furnished Or Unfurnished?'>Should I Offer My Property As Furnished Or Unfurnished?</a></span></div>
</ol></p>]]></content:encoded>
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		<slash:comments>8</slash:comments>
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		<title>Golden Rules For Property Development</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/golden-rules-for-property-development/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/golden-rules-for-property-development/#comments</comments>
		<pubDate>Wed, 07 Nov 2007 17:45:49 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/11/07/golden-rules-for-property-development/</guid>
		<description><![CDATA[Property development is becoming increasingly popular, especially in a cooling market. Profit margins are becoming slimmer for straight flipping (buy to sell without development) so people are starting to look [...]]]></description>
			<content:encoded><![CDATA[<p>Property development is becoming increasingly popular, especially in a cooling market. Profit margins are becoming slimmer for straight flipping (buy to sell without development) so people are starting to look for properties in need of a little TLC to make that extra fortune.</p>
<p>It&#8217;s still frustrating to witness inexperienced developers fall into the most basic development traps, consequently taking huge hits to their profits. Anyone that falls into a basic trap either didn&#8217;t do enough research and/or doesn&#8217;t understand how development works and what affects profit and loss. Unfortunately, a mule will always be a mule, so sometimes solid advice just lands on deaf ears. Let&#8217;s face it, developers aren&#8217;t exactly renowned for being democratic. However, some of you can be savedâ€¦</p>
<p><strong>1: Calculate your costs before starting any project</strong><br />
Before buying a development project, make sure you do a thorough analysis of your finances. Here are some of the figures you should be looking to retrieve:</p>
<ul>
<li>how much is the property currently worth</li>
<li>how much are similar properties in the same area selling for</li>
<li>how much will your property be worth once it&#8217;s been developed</li>
<li>how much money will you need to develop the project (get quotes from tradesman)</li>
</ul>
<p>Those vital figures will tell you whether a project is worth pursing or not.</p>
<p><strong>2: Know what you&#8217;re buying</strong><br />
It might be worth employing a builder to check out the property before making an offer. Properties that are in need of restoration often have a lot of problems that can&#8217;t be seen with the naked eye. Relying on an estate agent and vendor to declare all the hidden beauties is a tactic I wouldn&#8217;t recommend for the sane. If you buy yourself a property with a lot of hidden surprises your budget and profit will go out of the subsided window. Literally.</p>
<p><strong>3: Supply and demand</strong><br />
There&#8217;s no point transforming a 3 bedroom house into an 8 bedroom house if there is no demand for 8 bedroom properties in the area. You need to know what the local market is looking for; the best way to do that is by talking to local estate agents. By getting an idea of what types of properties are most in demand, you can base your development around the spec. Supply what is in demand.</p>
<p><strong>4: What adds value to the property?</strong><br />
If you&#8217;ve purchased a property on a road that has limited parking space, it might be worth building a garage, space permitting, as opposed to that extra dining room. Of course, you can find out from your estate agent what will add that extra bit of value.</p>
<p><strong>5: Planning permission</strong><br />
Buying a property with great visions of expansion can quickly become a nightmare if you can&#8217;t get permission from the local planning authority. Make sure you can get planning permission, or better yet buy a property that already has planning permission.</p>
<p><strong>6: Produce a realistic budget and stick to it</strong><br />
It&#8217;s imperative that you stick to a budget; otherwise you could be watching your profits shrink very quickly. You need to be realistic from the start, and then maintain a strict hold of your budget. The amount of people I see losing grip of their budget is unbelievable; it&#8217;s crazy how easily developers part with money. Granted, higher risk equals higher gain, but there is never any gain when throwing money down the drain.</p>
<p><strong>7: Don&#8217;t cater for your own taste</strong><br />
You want your property to appeal to as many people as possible to make sure your property sells quickly. The longer you leave your market on the property for, the more it will cost you. Time is money. By designing a property to your own taste you&#8217;ll be ultimately limiting your market. Try to keep things neutral and easy on the eyes. Even easily correctable features like ill-coloured paint can scare buyers away. What can I say, man? People scare easy.</p>
<p><strong>8: Forget the luxury accessories; focus on the bread and butter</strong><br />
Adding gadgets like CCTV and luxury fish tanks built into the wall won&#8217;t add value to your property, and they certainly won&#8217;t be the definitive features that will make or break a deal. Instead of putting money into state of the art technology, put the money back into your pocket or spend it on more fruitful features E.g solid kitchen or bathroom units.</p>
<p><strong>9: Know the difference between success and failure.</strong><br />
A lot of developers only make a profit from development because the property market has been kind to them. By the time the development is over, prices may have increased by 10%. In that case, they would have made just as much profit (if not more) if they didn&#8217;t shed blood and spend a fortune on the development.</p>
<p>If someone purchased a property for 100k, spent 20k developing it, and sold it for 140k with a 10% rise in property prices; their efforts made them 10k. Obviously 10k is a lot of money, but the profit margin isn&#8217;t substantial for a project that may have lasted 6 months. In a steady market the developer would have struggled.</p>
<p>Measure success on actual development work as opposed to the condition of the market. Don&#8217;t forecast your profit on future house prices; the property market can be fickle and switch in any which way.</p>
<p><strong>10. Work with people you can trust</strong><br />
The odds are you will employ a builder and various other tradesmen to help renovate your property. Picking the right tradesmen is vital; they alone can determine the success of your project. If you don&#8217;t already have a reliable team of workers, ask friends and family for recommended labourers. If your resources run dry and you&#8217;re relying on a random workforce, then use what is right in front of you, THE INTERNET, to check references. Look online for reviews of reliable tradesman. Odds are that if someone has done a superb or a terrible job, it&#8217;s been written about on a forum somewhere.</p>
<p><strong>11. Project Management</strong><br />
A lot of people employ professional project managers to make sure everything is kept inline, including the builders. Their job is to make sure the project runs smoothly, which entails time and cost efficiency. Project Mangers can be an expensive asset, so a lot of enthusiasts take on the roll themselves. It can be a fun and highly rewarding experience if you can carry the swagger that is required. If you&#8217;re not the forward pro-active type, then you may need to completely transform into new a suit just to get this project done. If people are slacking and consequently costing you, you need to put your foot down and rectify the issue. Basically, plan the project, be realistic, stick to your timeline and be aggressive when you need to be.</p>
<p>One thing you need to remember is that it&#8217;s your money on the line and time is everything, so you need to make sure things are completed in appropriate time. Don&#8217;t take a one day loss lightly, because those days can slowly build up into weeks.</p>


<p>Related posts:<ol><div><img src='/images/articleimages/owntaste.jpg' height='100' width='58' title='Don&#8217;t Cater For Your Own Taste When Developing Property' alt='Don&#8217;t Cater For Your Own Taste When Developing Property' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/property-developers-dont-cater-for-your-own-taste/' title='Don&#8217;t Cater For Your Own Taste When Developing Property'>Don&#8217;t Cater For Your Own Taste When Developing Property</a></span></div>
<div><img src='/images/articleimages/default.jpg' height='100' width='58' title='offplan' alt='offplan' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/buying-off-plan-property/' title='Buying Off-Plan Property'>Buying Off-Plan Property</a></span></div>
<div><img src='/images/articleimages/confused.jpg' height='100' width='58' title='I Avoided Buying A Property That Needs Renovating' alt='I Avoided Buying A Property That Needs Renovating' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/buying-property-that-needs-renovating-as-a-property-development-virgin/' title='I Avoided Buying A Property That Needs Renovating'>I Avoided Buying A Property That Needs Renovating</a></span></div>
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		<title>How To Increase The Value Of Your Property</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/increasing-value-of-houses/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/increasing-value-of-houses/#comments</comments>
		<pubDate>Wed, 30 May 2007 22:46:21 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/05/30/increasing-value-of-houses/</guid>
		<description><![CDATA[Increasing the value of a property is all about spending wisely and focusing your effort in the right places. For example, there&#8217;s no point pumping high amounts of cash into [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Increasing the value of a property</strong> is all about spending wisely and focusing your effort in the right places. For example, there&#8217;s no point pumping high amounts of cash into a 3rd bathroom in a 2-bedroom property. It just wouldn&#8217;t make sense. In a lot of cases, it&#8217;s always a good idea to check with your local estate agent which change would most increase the value of your property. They can advise on whether you should invest in an extra bathroom or bedroom.</p>
<p>Increasing the value doesn&#8217;t have to be expensive. Simple and semi-inexpensive changes can get you quid&#8217;s in. But of course, the more you put in, the more you&#8217;re likely to get out of it. Value also correlates with quality; so unless you apply changes to your property with quality, taste and proportion, don&#8217;t expect to watch your equity grow, even if you make every suggested change. Here&#8217;s a general list of ways you can increase the value of your property.</p>
<h5>Extensions</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/extension.jpg" width="300" height="187" class="border" align="left" title="Increasing the value of a property by adding an extension" alt="Increasing the value of a property by adding an extension" />The most obvious and most expensive option, but often the most rewarding is building an extension. Adding extra living space is a great way of adding value to your property. Adding extra bathrooms and conservatories are popular choices, along with building extra rooms on top of garages that are attached to properties.</p>
<p>It&#8217;s imperative you add space wisely, I can&#8217;t emphasise that enough. For example, some times having 2 large bedrooms adds more value than having 3 small bedrooms. As mentioned, asking your local estate agent could provide you with some guidance.</p>
<h5>Loft conversions</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/loft.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with a loft conversion" title="Increasing the value of a property with a loft conversion" /> Converting a lift into a liveable area is a great way of adding space, especially in urban areas where properties are close together and consequently have no room to extend outwards. Skyline windows that provide plenty of natural light is a big winner. Converting a loft can be a lot cheaper than upsizing or extending. A basic conversion can start at 10k, but the average profit can be 50k, depending on regional factors. Loft conversions are more popular in London and the south east.</p>
<h5>Basement Conversion</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/basement.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with a basement conversion" title="Increasing the value of a property with a basement conversion" /> This can be a costly move, but by converting a basement, you&#8217;re essentially creating a whole new floor worth of space. Unlike with a loft conversion, you won&#8217;t be limited with a pyramid roof.Like loft conversions, basement conversions are more popular with buyers in London and the South East. Returns are less easy to predict and depend on the size of the property and the local property market. You could be looking at upwards of &pound;50,000.</p>
<h5>Green Gardens</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/green.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with green grass" title="Increasing the value of a property with green grass" />There&#8217;s a major shortage of greenery these days, consequently green space is starting to affect the value of property. Green grass will soon be like gold dust.Making simple changes like making your garden green by laying down lawn, removing unattractive weeds and bedding plants can add plenty of value, and will attract families and earth lovers. This can be an extremely easy and cost-efficient way of adding value to your property.According to the Halifax, over 50% of homeowners would forgo a second bathroom or bedroom for outdoor green space.</p>
<h5>Open-plan living</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/openplan.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with space" title="Increasing the value of a property with space" />The whole studio look is BIG these days. The hearts of many have swayed towards open spaces and clean finishes. Since open-plan is in demand, the value of open-plan has increased dramatically. Knocking down walls and merging the kitcten with dining and entertaining area seem to be desired, especially with young professionals.But remember, you&#8217;re essentially reducing the amount of rooms you have in your property, and by doing that you&#8217;re limiting your market when it&#8217;s time to sell. Make sure you do your research before knocking down walls. If you&#8217;re looking to increase the value of your property for the purpase of making sale-profit, find out what type of people are looking to buy in your area.</p>
<h5>Energy efficiency</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/energy.jpg" width="300" height="173" align="left" class="border" alt="Increasing the value of a property by being green" title="Increasing the value of a property by being green" /> Increasing amounts of people are starting to become &#8216;green conscious&#8217;, not only to help save the world, but also to help reduce monthly costs. An energy efficient property can appear to be extremely appealing to those looking to reduce those monthly bills. Here are some useful <a href="http://www.propertyinvestmentproject.co.uk/blog/tips-on-how-to-make-your-home-green/">Tips On How To Make Your Home Green</a>The <a href="http://www.propertyinvestmentproject.co.uk/blog/home-information-pack-quick-guide/">Home Information Packs</a> are going to be introduced in August, and experts predict that energy ratings will start to affect the value of property.</p>
<h5>Add a garage</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/garage.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property by adding a garage" title="Increasing the value of a property by adding a garage" /> Adding a garage can be an extremely profitable home improvement. A garage is a big plus for car owners, especially in crowded neighbourhoods with limited space. Garages reduce insurance premium rates, provide extra security, provides extra space and removes parking permit costs.<br />
Prices can vary anywhere between &pound;5,000 and &pound;25,000 according to size and style. According to Nationwide, adding a garage inceases your property&#8217;s value by over 10%.</p>
<h5>New Kitchen</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/kitchen.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with a nice kitchen" title="Increasing the value of a property with a nice kitchen" />Everyone loves and wants a beautiful kitchen. Expects say that a fantastic looking kitchen, finished with high quality, is the job most likely to increase the value of a property.People often refer to the kitchen as the most important room in a property, so it&#8217;s extremely important it&#8217;s done right.Getting a quality kitchen fitted can be expensive, but there&#8217;s no doubt about it, it would be a wise investment if it&#8217;s done right.</p>
<h5>Extra Bathrooms</h5>
<p><img src="http://www.propertyinvestmentproject.co.uk/images/increasevalueproperty/bathroom.jpg" width="300" height="187" align="left" class="border" alt="Increasing the value of a property with an extra bathroom" title="Increasing the value of a property with an extra bathroom" />Having the novelty of having an extra bathroom can nicely add value, especially in a family-market. Additionally, on-suites are also extremely desirable, especially in 3+ bedroom homes. But as mentioned in my opening paragraph, it&#8217;s important you don&#8217;t build an extra bathroom unnecessarily, otherwise you could be wasting both your money and time. For example, if you have a 2 bedroom property, don&#8217;t build an extra bathroom upstairs, a toilet downstairs would be much more suitable.</p>


<p>Related posts:<ol><div><img src='/images/articleimages/contract.jpg' height='100' width='58' title='Notice Of Rent Increase Form &#8211; Section 13' alt='Notice Of Rent Increase Form &#8211; Section 13' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/notice-of-rent-increase-form/' title='Notice Of Rent Increase Form &#8211; Section 13'>Notice Of Rent Increase Form &#8211; Section 13</a></span></div>
<div><img src='/images/articleimages/furniture.jpg' height='100' width='58' title='Should I Offer My Property As Furnished Or Unfurnished?' alt='Should I Offer My Property As Furnished Or Unfurnished?' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/to-furnish-or-not-to-furnish/' title='Should I Offer My Property As Furnished Or Unfurnished?'>Should I Offer My Property As Furnished Or Unfurnished?</a></span></div>
<div><img src='/images/articleimages/loftconv.jpg' height='100' width='58' title='Will A Loft Conversion Add Value?' alt='Will A Loft Conversion Add Value?' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/will-a-loft-conversion-add-value/' title='Will A Loft Conversion Add Value?'>Will A Loft Conversion Add Value?</a></span></div>
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		<title>Don&#8217;t Cater For Your Own Taste When Developing Property</title>
		<link>http://www.propertyinvestmentproject.co.uk/blog/property-developers-dont-cater-for-your-own-taste/</link>
		<comments>http://www.propertyinvestmentproject.co.uk/blog/property-developers-dont-cater-for-your-own-taste/#comments</comments>
		<pubDate>Wed, 10 Jan 2007 20:52:07 +0000</pubDate>
		<dc:creator>The Landlord</dc:creator>
				<category><![CDATA[Property Development]]></category>

		<guid isPermaLink="false">http://www.propertyinvestmentproject.co.uk/blog/2007/01/10/property-developers-don%e2%80%99t-cater-for-your-own-taste/</guid>
		<description><![CDATA[The single biggest mistake most amateur property developers make is catering for their own personal extravagant taste when developing a property. For those that are also a avid fan of [...]]]></description>
			<content:encoded><![CDATA[<p>The single biggest mistake most amateur property developers make is catering for their own personal extravagant taste when developing a property. For those that are also a avid fan of <a href="http://www.propertyinvestmentproject.co.uk/blog/sarah-beeny/" title="Sarah Beeny">Sarah Beeny&#8217;s</a> Property Ladder, will know this problem all too well. As a lot of the developers get lost in their own taste, and consequently sabotage their profits. I know I&#8217;m not the only one shouting at the TV with my hands covering my eyes.</p>
<p>As a rule of thumb, developers need to remember that will NOT be them living in this property. Property development is a business project, and nothing else.</p>
<p>Most homebuyers don&#8217;t want to purchase property that will need a full makeover, so it&#8217;s important to offer a property that is easy to work with. </p>
<p>As soon as developers start catering for their own taste, they run the risk of essentially limiting the market.</p>
<p>The whole point of property investment is to walk away with maximized profits, so every developer needs to be sensible when it comes to layout and decoration.</p>
<h5>Basic tips for property development:</h5>
<p>1] Set a realistic budget, and stick to it. It&#8217;s important that you start off with realistic figures, and remain strict. It&#8217;s ridiculously easy to let your spending habits take over, especially when you start catering for your own taste.</p>
<p>2] Keep the colour scheme neutral throughout the house; keep your personal obsession with the colour pink out of the project. This way you&#8217;ll appeal to the majority of the market, and not just someone with a similar taste to yours.</p>
<p>3] Give the impression of space with light colours, and allow for plenty of natural light to enter the house.</p>
<p>4] Remain consistent throughout the house, in regards to colours and style. Buyers can easily be put off by inconsistent, chop and match jobs.</p>
<p>4] Spend money on quality kitchen/bathroom fittings, and not on useless props like state of the art radiators. Kitchens and bathrooms sell houses, radiators rarely do.</p>
<p>5] If you plan on doing work in the garden, keep it simple and healthy looking. Don&#8217;t make the maintenance of the garden look like hard work. Usually keeping the grass looking fresh, the patio uncluttered, and healthy growing plants/trees does the trick.</p>
<p>6] Remember, this is a business project- unnecessary spending will reflect on your overall profit margin.</p>


<p>Related posts:<ol><div><img src='/images/articleimages/angry.jpg' height='100' width='58' title='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit' alt='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/im-bored-of-painting-over-bad-taste-and-moudly-shit/' title='I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit'>I&#8217;m Bored Of Painting Over Bad Taste And Moudly Shit</a></span></div>
<div><img src='/images/articleimages/uglysofa.jpg' height='100' width='58' title='My Tenant&#8217;s Disgusting Taste In Furniture Has Ruined My Life' alt='My Tenant&#8217;s Disgusting Taste In Furniture Has Ruined My Life' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/my-tenants-disgusting-taste-in-furniture-has-ruined-my-life/' title='My Tenant&#8217;s Disgusting Taste In Furniture Has Ruined My Life'>My Tenant&#8217;s Disgusting Taste In Furniture Has Ruined My Life</a></span></div>
<div><img src='/images/articleimages/propertydevelopment.jpg' height='100' width='58' title='Golden Rules For Property Development' alt='Golden Rules For Property Development' /><span><a href='http://www.propertyinvestmentproject.co.uk/blog/golden-rules-for-property-development/' title='Golden Rules For Property Development'>Golden Rules For Property Development</a></span></div>
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