The Ultimate Guide to Finding the Right House to Renovate (with checklist)
When we set out to find our forever home, we knew we wanted a renovation project rather than a turnkey property. After viewing countless properties (and bidding on many!), we finally found our 1950s bungalow.
Here's what we learned about identifying the right renovation property.
Know the Local Property Market
Before you can spot "the one," you need context:
View extensively: We viewed dozens of properties to calibrate our understanding of the market
Track actual sales: Look beyond asking prices to what properties actually sell for - all house sales in Ireland are listed on https://www.propertypriceregister.ie/
Build relationships: Let estate agents know exactly what you're looking for and your budget
Off-market opportunities: Some of the best properties never hit public listings
Set up alerts: Use relatively wide search terms so you don't miss something interesting on daft.ie and myhome.ie (many properties are only on one site!)
This market education meant when we finally walked into our bungalow, we immediately recognized its value relative to everything else we'd seen.
2. Be Realistic about Budget
The true cost of a renovation property extends far beyond the purchase price. For every promising property online, we immediately multiplied the floor area by our per-square-meter renovation cost (€2,500-3,000 depending on existing condition) to get a realistic ballpark figure.
Example Budget Calculation:
Property purchase: €500,000
Stamp duty (1%): €5,000
Legal fees: €5,000
Renovation costs (200sqm × €2,500-3,000/sqm): €500,000-600,000
Structural engineer, Quantity Surveyor, Planning Consultant: €5,000-10,000
Architect fees (10-15% of build): €50,000-90,000
BER assessment (required for SEAI grants: €500
Rental during construction (€4,000/month × 12 months): €48,000
Contingency (15% of build): €75,000-90,000
Total investment: €1,188,500-1,348,500
There are grants available too, but unless the house is derelict/uninhabited the figures are c. €25,000. There are also a number of criteria to meet.
Value Ceiling Calculation
Research similar A-rated properties in your target area to determine what your renovated home might be worth.
Ideally, your total investment should be less than this amount.
Only break this value ceiling if:
You can afford to lose money on the project
It's truly your "forever and ever" home
You have fallback options (in our case, potential to sell off a portion of the site if needed)
Get Professional Cost Validation
When we found a property that we thought could be the one, we asked a builder to look at the property with us before we sale agreed. We wanted to confirm our ballpark renovation costings matched a professional's assessment.
We also:
Sent the property listing to two other builders for their quick estimates and asked them to flag any potential issues that might inflate costs. We then used their feedback to refine our budget calculations.
Asked a quantity surveyor to confirm the builder’s estimates were reasonable
This step prevented us from falling in love with a property we couldn't realistically afford to renovate.
3. Location Assessment
The old real estate adage "location, location, location" exists for a reason.
We prioritized:
School proximity: Being within walking distance to schools for our children
Access: Walking distance to shops, public transport, friends etc.
Future value: Even the most stunning renovation won't overcome a poor location
Spend time in your target area at different times of day before committing. We visited our neighborhood during school pick-up times, weekends, and evenings to get a true sense of the area, traffic etc.
If there’s anything about the location that feels off - walk away. This is the one thing you can never change.
4. The Property Itself
Property Structure & Renovation Potential
Not all "fixer-uppers" are created equal.
Our 1950s bungalow had several structural advantages:
Solid construction: Despite needing updating, the fundamental structure was sound
Logical layout: The original flow of the house made sense, even though we planned changes
Ceiling height: Higher-than-standard ceilings gave us design flexibility
Orientation: The property's positioning allowed for natural light optimization
We avoided properties with serious structural issues or awkward layouts that would require extensive (and expensive) engineering solutions.
Don't Be Fooled by Cosmetic Updates
A crucial lesson: never be swayed by properties "tarted up" for sale. Those fresh paint jobs and new cabinet handles make you think “ahhh finally one we could move into”, but they often mask deeper issues. It's not about how a property looks, but how it's built.
We would never buy a property without a structural engineer’s report. Their expert eyes spot can issues to help avoid potential money pits.
Non Negotiables
We identified non negotiables early and stuck to them.
Work-from-home requirements: Space for both of our home offices
Outdoor space: Sufficiently large to allow us to extend, have a play area, workshop etc.
Entertainment style: Our love of hosting influenced open-plan priorities
Future adaptability: Potential for changes as our family evolves
Be honest with yourself - if you are viewing a house that is over budget or does not meet your non-negotiables - make sure you view it as a learning experience, not a potential home.
5. Site and Infrastructure
The plot size was a major selling point for us.
When evaluating a site, consider both the visible and invisible aspects:
Garden orientation: South-facing gardens maximize light
Privacy: Buffer from neighbors and street visibility
Expansion potential: Room for future extensions or outdoor structures
Topography: Our elevated site offered views but also drainage considerations
Water and sewage pipes: You typically cannot build within 3m of these, which can significantly impact extension possibilities
Services location: Where utilities enter the property matters for renovation planning
Drainage systems: Original drainage might need complete replacement to meet modern standards
Access for construction: Can large machinery reach where it needs to go?
We were interested in a property before discovering a main sewer line running through the garden would prevent our planned extension. This taught us to investigate infrastructure early.
Once you think you have found it - Be Strategic
Strategic Approach to Viewings
How you view properties matters:
Be first through the door: We secured our house by being the first viewers
Ask direct questions: "What figure would take this off the market today?"
Understand the seller: Always inquire about the vendor's situation (relocating? executor sale? already purchased elsewhere?)
Competitive landscape: Are there other viewings scheduled or offers on the table?
Make your position known: Ensure the estate agent knows if you're cash buyers
Understanding the seller's motivation can give valuable negotiating leverage. An executor sale (being split between family members) typically means less flexibility on price, while a seller who's already purchased elsewhere might prioritize a quick, straightforward sale.
Financial Positioning
We sold our previous home first, this positioned us as cash buyers, this:
Gave us an advantage in a competitive market
Allowed us to move quickly when the right property appeared
Made our offers more attractive to sellers
Eliminated the dreaded "subject to sale" contingency
It also allowed us to be set up in a rental whilst closing the sale and planning the renovation whilst has definitely taken away an additional source of stress.
This strategy wasn't without challenges—we bid on and lost numerous properties before securing our bungalow. The emotional rollercoaster of repeatedly losing out was tough, but ultimately worth it when we found "the one."
Your Renovation Property Checklist
Here's a practical checklist to consider prior to purchasing a renovation property:
Know the Local Market
[ ] Viewed at least 10-15 properties in target area to calibrate market knowledge
[ ] Researched actual selling prices (not just asking prices) of comparable properties
[ ] Set up email alerts with broad search criteria to catch all possibilities
[ ] Notified estate agents of your specific requirements and budget
[ ] Investigated off-market opportunities through local connections
Budget and Value
[ ] Calculated total project cost (purchase + renovation + fees + rental - grants)
[ ] Researched market value of comparable renovated properties
[ ] Identified financial contingency plans if costs exceed budget
[ ] Assessed if the property represents good value compared to alternatives
[ ] Confirmed the renovation aligns with your long-term financial goals
Location Assessment
[ ] Visited area at different times of day (school run, evening, weekend)
[ ] Checked proximity to essential amenities (schools, shops, transport)
[ ] Researched local development plans that might affect the area
[ ] Assessed neighborhood security and community feel
[ ] Identified any potential noise sources (roads, flight paths, etc.)
The Property
[ ] Examined foundation, walls, and roof condition
[ ] Checked for signs of subsidence, movement, or structural issues
[ ] Assessed ceiling heights and natural light potential
[ ] Verified if previous extensions were properly permitted
[ ] Had a structural professional view the property before offering
[ ] Meet your non-negotiables
Site and Infrastructure
[ ] Identified garden orientation and sun patterns
[ ] Located all utility access points (water, electricity, gas)
[ ] Checked for water and sewage pipes that might restrict building
[ ] Assessed drainage patterns and potential issues
[ ] Verified site boundaries match what's in the property documents
[ ] Confirmed access for construction equipment
Renovation Potential
[ ] Calculated renovation cost (area in sqm × €2,500-3,000)
[ ] Identified logical phasing opportunities for the project
[ ] Verified that the property can accommodate your lifestyle needs
[ ] Researched planning precedents in the immediate area
[ ] Had a builder verify your renovation assumptions are realistic
What factors are you considering in your renovation property search? I'd love to hear what's important to you!
