Property Refurbishment: Where to Start and How to Budget

Taking on a property refurbishment in Newton Abbot, Torbay, or the surrounding Devon area is a significant undertaking that requires a blend of creative vision and disciplined financial planning. Whether you are updating a Victorian terrace in Exeter or modernizing a coastal home in Plymouth, the order in which you tackle the work is just as important as the work itself.

At V3 Build, we have spent over 25 years helping homeowners navigate the complexities of full-scale renovations. This guide outlines the essential phases of starting a refurbishment and how to build a budget that remains realistic from start to finish.

Determining the Starting Point

A successful refurbishment always begins with a thorough assessment of the building’s “health.” Before you pick out paint colors or kitchen cabinets, you must ensure the core of the property is sound.

The logical starting point is the structural and protective layer. This includes checking the roof for leaks, ensuring the property is watertight, and addressing any damp or timber decay. Once the building is dry and stable, you can move on to the “first fix” stage. This involves stripping back old plaster to update electrical wiring and plumbing systems. By doing this early, you avoid the costly mistake of having to cut into new finishes later to fix a hidden pipe or wire.

Creating a Robust Budget

In the current market, budgeting for a refurbishment requires a detailed approach that accounts for both visible finishes and invisible structural needs.

A common pitfall is allocating too much of the budget to the “finish” stage, such as high-end kitchens or flooring, leaving insufficient funds for the essential infrastructure. We recommend breaking your budget down into three distinct categories.

First, allocate funds for structural and essential work. This includes roofing, windows, damp proofing, and major utility updates. Second, budget for the fit-out, which covers plastering, joinery, kitchens, and bathrooms. Third, set aside a contingency fund. For a refurbishment, a contingency of at least 15% is vital, as opening up walls in older Devon properties often reveals unforeseen issues that must be addressed.

Prioritizing Your Spend

If your budget is tight, it is important to prioritize work that adds the most value or improves the building’s efficiency.

Investing in high-quality insulation and modern heating systems will pay for itself over time through lower energy bills. Similarly, structural changes that improve the flow of the home—such as knocking through a wall to create an open-plan living space—often provide a better return on investment than expensive decorative choices. Remember that decorative trends change, but a well-insulated, structurally sound home with a functional layout will always retain its value.

Managing the Timeline

Time is money in construction. A refurbishment project typically follows a linear path: strip out, structural work, first fix (plumbing/electric), plastering, second fix (fitting), and finally, decoration.

Delays often occur when materials are not ordered in advance. For example, bespoke windows or specific kitchen components can have lead times of several months. At V3 Build, we emphasize the importance of having a finalized design and a clear schedule of works before any physical labor begins. This ensures that tradespeople are not left waiting for decisions or deliveries, keeping your labor costs under control.

The Value of Local Expertise

Choosing a builder with local knowledge is invaluable for a Devon refurbishment. Regional factors, such as the specific requirements for working on cob cottages or managing site access in narrow coastal streets, require experience to handle efficiently. V3 Build provides a comprehensive service that covers every stage of the refurbishment, ensuring that your budget is managed transparently and your project is delivered to the highest standard.