Need guidance on refurbishing costs

Best to get some quotes from local reputable builders

Snap.builders.. recommended

JHS Ltd

May I ask how much the property is on the market for and its whereabouts?(Very cheap, great location?)

What do properties go for in that area and what rental could you ask?

A good location will be required if you plan to take on such a project and looking for a good profit or decent rental.

I personally wouldn't go anywhere near a project like that not knowing builders over here.

I also think €50k is pushing it, might be double that.

Go into a Kitchen and Bathroom showrooms and see the prices, you will get a ballpark figure for that work alone.

You're wanting a total refurbishment of the internals of the property, plus the floors dug up for underfloor heating.

Big Project to take on, I'd think long and hard about this in a Country we're not familiar with building regulations, costs, Labour.

Good luck

@timhuntington  good advice..... Better to buy something with what you want already in place

@MacGeorge8035

I have been extensively renovating my property and have found that there is a huge variation in quotes, standard of work, quality of product etc.

I have come to the conclusion that the best way to approach a project like yours is to break each job down independently and be really clear what you require in terms of product and installation I.e if you are renovating the bathroom, find the exact tiles, bathroom suite, underfloor heating type, taps, shaver socket etc etc that you want and price these items up yourself, then factor in the cost of a skip, tile adhesive etc, at least then you have a baseline cost (excluding labour) in your head and you can meaningfully compare quotes.

I would also start with the smallest project first so you can gauge the builders workmanship and decide if you want them to quote for the other projects

The underfloor heating will be very disruptive, expensive and adds a huge amount of complexity to the project, personally I would rethink this option to establish if it's really necessary (taking tiles up and replacing them is one thing but then digging up the concrete underneath to install underfloor heating is quite another). It is also worth remembering that it is only really necessary for heating in Cyprus for a couple of months a year, a better investment would be solar panels that will help with heating costs in winter and cooling costs in summer, the government also offer a retrospective grant once the panels are fitted (typically circa €1,200 depending on the size of the solar installation).

in summary with careful planning and a lot of effort on your part in terms of project managing each aspect, I think that you should be able to get the works that you require completed within your budget (although the cost of underfloor heating may hugely impact this).

You project is definitely not for the faint hearted and I can guarantee that it will also be really stressful and is very different from the UK where you have clear consumer rights and recourse if something goes wrong.

All that being said I have found some very reliable builders who do good work and are reasonable with their pricing (not the cheapest) but it has taken a couple of expensive mistakes to find them.

Tony

@anthonyfarrow  Tony, thanks for the advice. I will certainly look at the underfloor heating. I had it in the UK and it was great. I also had a 16 solar panel setup as well. I think I will look at the underfloor heating again, maybe look at putting solar panels in for my electricity rather than underfloor heating.

@timhuntington Tim, thanks I realise it is a big project and you are right about consumer protection etc. I am not interested in renting etc, this will be our home for at least the next decade or so. I have done refurbishing on this scale before albeit in the UK. This is still very much in the very early discussion stage with my OH. We still have not found a specific property at the moment.  I have around €280k to spend but I feel to get exactly what we want we may need a new build (which I am not keen on for well published reasons and I am not sure I could afford it) or go down the refurb route. As for area we are renting in Cap St. George but open to any area really. Though I do like Peyia we are even considering an apartment. 

Snap ...are very  good ..my very good friend had an 3rd bedroom extension built and they did kitchen bathroom and roofing works  plus Elecs etc 

Worth getting them out for a quote I think

@Toon I will look at them once we find the right place

Good luck with your search....

@Toon thanks

I know this is an old post but i would just like  to thank everyone for their advice. in the end we felt a refurb was too big of a project for us. So we went for new build, we get the keys in two weeks.