What started as a dream project to restore a charming Victorian home quickly turned into a financial nightmare for one couple, as their renovation costs soared to a staggering £100,000—far beyond their initial budget.
The Dream That Became a Money Pit
The couple, who wished to remain anonymous, purchased the property with grand visions of restoring its original features. However, they soon discovered hidden structural issues, including damp, rotten floorboards, and outdated wiring, which sent their expenses spiralling.
Where Did the Budget Go Wrong?
Experts suggest that underestimating the extent of repairs in period properties is a common mistake. Key cost drivers included:
- Structural repairs: Unforeseen foundation work added thousands to the bill.
- Restoration of period features: Sourcing authentic materials proved costly.
- Regulatory compliance: Meeting modern building standards required expensive upgrades.
Lessons for Future Renovators
Property specialists advise:
- Always get multiple surveys before purchasing an older home.
- Set aside at least 20% of your budget for unexpected issues.
- Work with contractors experienced in period properties.
Despite the financial strain, the couple has no regrets—their home is now a stunning blend of Victorian charm and modern comfort. But their story serves as a stark warning for aspiring renovators.
