Property Condition
Refurbishment
Renovating property to improve condition and value
Full Definition
Refurbishment ranges from light cosmetic updates (decorating, new kitchen) to heavy structural work (extensions, conversions). Strategic refurbishment adds value exceeding costs, enabling BRRR strategy. Common value-adds include kitchen/bathroom upgrades, loft conversions, and HMO conversions. Always obtain multiple contractor quotes.
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Analyse a PropertyMore Property Condition Terms
Leasehold
Ownership of property for fixed term from freeholder
Freehold
Outright ownership of property and land
Lease Extension
Adding years to a leasehold property's remaining term
Property Survey
Professional inspection of property condition
Forced Appreciation
Increasing property value through improvements