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Cost effective developing

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  • Cost effective developing

    Hi all,

    I am very new to property development and renovation in general.

    My question is in relation to being able to save costs, thereby maximising profit.

    When re-fitting a property, for example, central heating, double glazing, kitchen, bathroom etc. where do you tend to go?

    I mean, I could go to Wickes, B & Q, Homebase etc. but if these are likely to be more than a builders merchants, then what builders merchants? Also, what would be available (i.e. will all the items above be available from somewhere like Jewsons)?

    I am quite excited about doing this, but I don't want to overspend on my first property. (My first property will probably be something like a terrace and mainly to get the experience, so, likely profit is probably going to be quite low. The other side of the experience is that if I make a loss, I won't make too heavy a loss and can put it down to experience.)

    Thanks all for any advice you can impart.
    Community spirited? http://www.AshfieldFOCUS.com

  • #2
    Most of your profit is made at the price you buy, for example sources properties at 20% to 25% discount to value, if the property needs some development owrk you can make more on top. But you will make most by purchasing at a big discount. ... much more than the 1 or 2 thousands you will save on buying materials.

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    • #3
      Hi,

      Yes, I know that (the profit is in the purchase), but if I can say buy the identical bathroom from a builders merchants for half the price at B & Q, then I would prefer to do so.

      It is just that I don't know what other builders merchants are available and if they are actually any cheaper than the main DIY places.
      Community spirited? http://www.AshfieldFOCUS.com

      Comment


      • #4
        Originally posted by AshfieldFOCUS.com View Post
        Hi,

        Yes, I know that (the profit is in the purchase), but if I can say buy the identical bathroom from a builders merchants for half the price at B & Q, then I would prefer to do so.

        It is just that I don't know what other builders merchants are available and if they are actually any cheaper than the main DIY places.

        I'm a newbie PD as well and what I did, rightly or wrongly, was to open a Trade Account with one of the suppliers you mentioned. You get up to 60 days to pay and earn discount as well.

        Although some things are more expensive, they do have a lot of sales and if you order say, a whole kitchen (inc. oven, hob etc), a whole bathroom suite etc. all in one go you're only paying one delivery charge. If you buy things from various different builders merchants or wherever, you could end up paying more once you've added up all the different delivery charges. I also do it because I find it easier and more convenient especially as you can now order on-line and collect in-store.

        If I want to find builders merchants, garden centres or whatever close to where I'm developing, I just use Yell.com

        Also, please be aware that as from 1 April, if you have any gas work done i.e. central heating boiler, gas hobs, gas fires etc, the heating engineer must be on the new Gas Safe Register for it to be a 'legal' installation/service.

        Hope this helps in some way
        Kaz

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        • #5
          Originally posted by AshfieldFOCUS.com View Post
          Hi,

          Yes, I know that (the profit is in the purchase), but if I can say buy the identical bathroom from a builders merchants for half the price at B & Q, then I would prefer to do so.

          It is just that I don't know what other builders merchants are available and if they are actually any cheaper than the main DIY places.

          I did actually reply to this last night but it hasn't appeared so I guess the moderators didn't like it for some reason

          Anyway, the gist of what I was saying is that I personally find it easier, more convenient and, in the long run, cheaper to buy almost everything I need in one large, national DIY store. It saves you time, which afterall is money, petrol etc. running round to all the different smaller places for all the different items you need and cuts down on delivery charges. You can also order on-line for store collection.
          Kaz

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          • #6
            Hi AshfieldFOCUS.com

            I just wanted you to know that I typed quite a long, hopefully helpful reply to you on Friday night I think (or it could have been Saturday afternoon) but it seems to have disappeared into a black hole never to be seen again!

            It was 1 of 3 replies that went to the moderators so I guess they either didn't like what I said or maybe they're on holiday ........ who knows. I hope this one makes it through.

            Kaz

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            • #7
              Hi Ash

              Now that Brian is back and all of my postings have appeared together, I look like a burbling idiot

              What is it they say about true words spoken in jest!!

              Kaz

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