When is the best time to renovate a property?

Property renovation is an exciting endeavour that can significantly improve the aesthetics, functionality, and value of your home or investment. However is there a right time to renovate? Timing can affect costs, convenience, and the overall outcome of the renovation. Whether you’re considering selling your property or are just in need of a refresh, we'll explore when the best time to renovate a property is and consider various factors that should influence your decision.

Which season is best for renovations?

One of the primary considerations when deciding the best time to renovate a property is the season. Many homeowners prefer to undertake renovations during the off-peak seasons, such as fall and winter. During these times, contractors and construction professionals often have more availability, which can lead to cost savings and shorter project timelines.

Fall and winter are also less humid than spring and summer, which can be advantageous for projects like painting and drywall work. However, it's essential to keep in mind that some outdoor renovations, such as landscaping or roof repairs, may be less practical during the colder months.

However, summer is the most popular time to renovate as the daylight hours are longer, the days are warmer and drier and homeowners tend to take more time off of work!

When is the best time for you, personally?

Your personal schedule and commitments should play a significant role in determining the best time for your property renovation. Avoid starting a renovation project during hectic times in your life, such as when you're planning a major event, going through a significant life change, or have a tight work schedule. Renovations can be disruptive and time-consuming, so ensure you have the time and energy to oversee the project or hire a project manager to do so.

What budget do you have for your renovations?

Budget is another critical factor to consider when planning a property renovation. Prices for materials and labor can fluctuate throughout the year due to supply and demand. This may not affect the costs of small projects but could significantly impact the cost of a small extension.

To get the best deals, it's advisable to research market trends and compare prices during different times of the year. Additionally, some contractors may offer discounts during their slower months to attract business.

Does the project involve outdoor work?

If your renovation project involves significant outdoor work, the weather can be a decisive factor. For example, if you're planning to add a new outdoor living space, renovate your exterior, or work on your landscaping, it's best to time these projects during the season that offers the most favorable weather conditions.

Can you vacate the property whilst works are being carried out?

If your renovation project is extensive and disruptive, you might consider planning it during a time when you can temporarily relocate or take a vacation. This approach can reduce the stress and inconvenience of living in a construction zone. However, it's important to factor in the additional costs of temporary accommodation and the logistics of moving during the renovation.

Have you obtained the correct permits?

For some projects, you won’t be able to just get started as and when you feel ready. Depending on your location, certain times of the year may be more suitable for obtaining necessary permits and complying with local regulations. Renovation projects often require various approvals and inspections, and government offices may have specific working hours or processing times. Be sure to check with your local authorities to ensure a smooth permit application process.

Market Timing for Investment Properties

If you're renovating a property for investment purposes, it's crucial to consider the current real estate market conditions. In some cases, renovating during a buyer's market might yield a better return on investment, while in a seller's market, you may want to focus on quick, cost-effective improvements to maximize your profits.

Are you refurbishing to sell the property?

Renovating a property before selling can be a strategic move that not only enhances the visual appeal but also increases the market value of your home.

Whether it's updating outdated fixtures, refreshing the paint, or remodeling key spaces like the kitchen or bathroom, these renovations can create a lasting impression and significantly reduce the time your property spends on the market.

A well-executed pre-sale renovation not only attracts more buyers but can also result in a higher selling price, making it a worthwhile investment for sellers looking to maximize their return on investment in the competitive real estate market.

However, remember that you don’t have to renovate a property to sell. According to Clive Emson, properties that have not been renovated “can suit both investors and those looking for their new home and with a bit of imagination and priced correctly should sell very easily.” (View source: Selling a property in need of renovation).

The best time to renovate a property ultimately depends on your unique circumstances, project requirements, and goals. Careful planning, budgeting, and consideration of factors such as weather, personal convenience, and market conditions can help you determine the ideal timing for your renovation project. Whether you choose to renovate during the off-peak season for cost savings or during a specific life stage for convenience, a well-timed renovation can transform your property and enhance its value.