12% of couples consider a divorce while renovating a home. In our article, we will give you specific steps with data on how to ensure the refurbishment is on time, quality, budget and gives you the investment return you expected.
Open living spaces are on trend, and perform well in the Airbnb market.
Our biggest tip for a stress free renovation
Only consider architects based on proven projects you can visit, specific penalties for late delivery and full process including decoration, setup and maintenance.
Yes, only work with an architect with over 50 proven projects you can check, daily penalties for delivering late of over 50€, full budget including all items up to the apartment being ready for rental with all details.
By all details, we mean decoration, but also setting up internet, doing the paperwork to legally be able to rent short term the apartment, linking the bills to your bank account etc… Our checklist has over 103 items.
Finally, a maintenance service with a process to ensure your apartment stays profitable and drama-free is key, and to be done by the same architects and not anyonee else. The service we defined starts at 33€/month, and includes a visual checklist and key proactive maintenance points to avoid bid expenditures and key average maintenance cost in total under 95€/month for most apartments in our experience, with return and rents increasing with time.
The other benefits of working with an architect on your renovation are:
- The quality of the work will be guaranteed. 1 year guarantee and monthly maintenance service to keep the return on the apartment.
- The price of your renovation will be transparent. Here’s our article on prices to expect.
- Your renovation will be done within budget.
- They speak English.
Do you want to learn more about how to have a stress free renovation? If so, please follow this link to arrange a FREE CONSULTATION to learn how to work with our partner architect.
Light filled rooms with splashes of color make for a fresh, contemporary feel
What to expect when renovating an apartment
One of the main reasons renovating an apartment can be so frustrating is that your expectations don’t always match reality. Working with an architect, who has successfully managed many renovations, can help you know what to expect and make sure your expectations are aligned with reality. The end result? A stress free renovation!
Know how much will it cost
Most of our clients like to focus on the “sweet spot” for renovation. That is, apartments that are optimally sized for Airbnb rental, and yield the maximum return when reselling. Assuming the property is 75 square meters, the price to renovate is typically 1,000€ per square meter. You can expect to pay less per square meter for larger apartments, since the major expenses are the kitchen and bathrooms. Conversely, smaller apartments typically cost more per square meter as renovating the kitchen and bathroom will represent a large percentage of the renovation costs.
If you are planning on using the apartment for your personal use, and want to add special touches like a Jacuzzi or a marble kitchen, the cost can be unbounded.
Know the style you want
Typically, our partner architect works with a few styles that have wide aesthetic appeal, and have been shown to perform well in the rental market. They recommend letting in as much light as possible, creating open living spaces, putting stylish azulejos in the bathrooms, installing cement tiles on the floors and adding a few bright splashes of color. The photos in this article show a number of styles that work well. They were all renovated by our partner architect.
Colorful, modern azulejos (tiles) work well in the bathroom and even as a kitchen backsplash.
Know the process
Renovating an apartment is like cleaning out your closet. Often, the apartment looks a whole lot worse before it looks better. We are all familiar with the initial stages of cleaning out a closet- the first thing that happens is stuff usually gets taken out of the closet and thrown all over the bed, the floor and any exisiting furniture. The same is true of apartment renovation! A typical renovation will take four months, but will only start to look presentable in the final months.
Understand the process for communicating with your architect
Most people want to see what their apartment looks like during the renovation process. Make sure you and your architect are on the same page about this process. Our partner architect sends their clients photo updates of the property every 7-15 days. We notice this works well for both architect and apartment owner. More frequent updates often do not demonstrate material progress and can be counter-productive.
This is an example of a terrace that has been renovated in the fresh, contemporary style that works well for Airbnb renovations.
Are you planning on renovating an apartment? For a stress free renovation, we highly recommend you work with our hand picked partner. In fact, Moving2Madrid customers receive a SPECIAL OFFER: You will receive a 45 minute consultation with a senior architect with over 10 years experience in refurbishing apartments for foreign buyers in Madrid. PLUS: Up to 2 quotes for the apartments you are interested in. To take advantage of this offer, arrange a free consultation today and mention this article.