The cost per metre of this central Portugal property renovation can now be assessed against the original budget.
When looking at new opportunities, a pre-purchase renovation cost guesstimate is followed by a more detailed budget that’s often completed after a purchase price has been agreed.
When looking at a new deal, I start with a pessimistic resale price, roughly cost a worst case renovation price and work backwards towards a max buying price above which I won’t offer.
This may not be a state of the art methodology but to secure profitable projects, accurate guesswork and speed are key.
It’s like the old advert for Croft Original sherry, ‘one instinctively knows when something is right…’
Buyers save months of delay by purchasing renovated property and investors are happy.
Have a look at how you can get high returns from a business that breathes new life into beautiful old properties: https://www.rural-properties.com/