Developer Insurance: Guide to Renovating Properties

ProAktive www.selfbuildinsure.co.uk Developer Insurance Guide to renovating properties Who is this guide for? Anyone who is renovating one or more properties as part of a single development. Find a property Property search engines are a good place to start when searching for buildings to renovate. Put yourself in the shoes of a potential buyer and try to understand ere they would want to live. A highly sought-after area will come with a higher cost, but will perhaps yield a bigger return when sold. Local estate agents and property auctions are also other avenues to consider. Check planning permissions Planning permission is needed when making major changes to a building or changing the use of a building. It's generally not necessary to get permission when working internally, but larger projects, such as extending a building will require it. Conservation zones and areas of special interest will have more planning restrictions and you should check to see if the house is in a protected area. Investigate structural quality You can't always get a solid understanding about the condition of a building just by looking around and giving it a visual check. A proper structural survey will help to reveal the true quality of a building's structure and give an indication how much you might need to spend on renovation. Estimate the cost Sometimes you have to spend some money first in order to understand whether a project is going to be viable or not. This can be a delicate balancing act because you don't want to pay too much up front, only to find out the building(s) you're looking at are not worth the investment. If you know a reliable builder, it can be worth getting their opinion on a property before taking the plunge and paying for more expensive things, like a structural report. Whatever the size of your project, you will need to consider insurance options. ProAktive's Developer Policy could be for you. Developer Policy £ ProAktive's Developer Policy is designed to cover small to medium new build developments. The policy is suitable for conversion, extension and renovation work on existing properties, including those being converted from commercial to residential use. ProAktive Self Build Developer ProAktive has been providing excellent insurance products for over 30 years. We are backed by Aviva, one of the world's largest insurers. In addition to our specialised self build developer insurance, we are sure you'll appreciate our swift handling of claims, easy-to-read documentation and helpful customer service. To find out more information please visit: www.selfbuildinsure.co.uk/developer-insurance ProAktive Doncaster: 01302 346 831| Follow us O 00 www.selfbuildinsure.co.uk