Date Published 26 January 2026
The benefits of buying and refurbishing a home are several – you can design it to your own specification, you can save on Stamp Duty by not paying that iniquitous tax on the value of your improvements but…is it really worth it? The answer is yes, only when you are rewarded for your time, effort and expense.
In a rising market, this is almost guaranteed but, in a flat one, can you be so sure the end value is worth the risk?
As agents, we are always excited to see a property transformed from an unloved, tired and tatty dwelling into something special - especially if a resale is likely to follow.
Unmodernised houses used to be a highly sought after asset – bread and butter to developer clients or keen end-users. Today though, with the cost of labour and materials having increased by 30% or so since Covid, projects have to be very carefully budgeted.
Developers of one-off homes have to factor in Stamp Duty (often c.15% of the purchase price), borrowing costs, refurb costs at £500-600+ per sq ft, fees for planners, architects, interior designers, time etc., so it's not surprising that these buyers are fewer in number than ever before.
While probably paying less SDLT, ‘doer-uppers' buying for their own use, will often need to pay for other accommodation nearby while the work is in progress, so they too will have extra costs to factor in.
Those developers willing to take that risk and produce homes of the quality of design and finish that buyers expect, clearly deserve to achieve a premium price for a premium product.
However, the purchase price simply has to reflect the reality of the market today, not something many sellers seem ready to accept.
If you're considering selling your property and you're wondering where to start, please feel free to contact our sales team, Christopher, Edward or Matthew. We pride ourselves on understanding the dynamic market to help you choose a suitable method. Traditional or not..
