We here at Nestor Shanahan Auctioneers regularly speak with buyers who fall in love with a property and plan to renovate after purchase. In 2026, renovation can add significant value and transform a home to suit your needs. However, the true cost often goes beyond the initial builder’s quote.
The first consideration is the condition of the property. Older homes may require structural work, rewiring, plumbing upgrades or insulation improvements before cosmetic changes begin. Issues such as damp, roof repairs or outdated heating systems can quickly increase your budget.
Professional fees are another factor. Architects, engineers, surveyors and planning consultants may all be required depending on the scale of works. Planning permission and compliance with building regulations can add both time and expense.
Energy upgrades are increasingly important. Improving a property’s BER rating may involve new windows, insulation, heat pumps or solar panels. While these improvements can reduce long term running costs, the upfront investment should be carefully assessed.
Contingency planning is essential. Many renovation projects uncover unexpected issues once work begins. A contingency fund of ten to twenty percent of the overall budget can help prevent financial strain if additional repairs arise.
Temporary accommodation and storage costs are often overlooked. If major works are required, you may not be able to live in the property immediately. Factor in rent, utility bills and moving expenses during the renovation period.
Financing also deserves careful attention. Some buyers rely on savings, while others may consider top up mortgage finance or home improvement loans. Lenders may require updated valuations and detailed cost breakdowns before approving additional funds.
It is equally important to consider return on investment. Not all renovations increase value equally. Kitchen and bathroom upgrades, energy improvements and well planned extensions tend to attract buyer interest. Highly personalised finishes may not add the same resale value.
Time is another cost. Renovations can take longer than anticipated due to contractor availability or supply delays. Clear timelines and written agreements with builders can reduce uncertainty.
Renovating can be rewarding and financially sensible when approached realistically. Careful budgeting, professional advice and clear planning help ensure that your dream project does not become a financial burden.
If you would like to discuss buying or selling a property, contact us on 061 415337 or email info@nestorshanahan.ie or visit nestorshanahan.ie.
Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.
