The Property Conversion Process, Step by Step: From Search to Exit

Converting a property isn’t just about knocking down walls and painting over old wallpaper. It’s a carefully planned process - one that takes precision, compliance, and creativity at every step.

At Headway, we’ve refined our property conversion process over the years, especially for complex projects like 7-bed HMOs and commercial-to-residential conversions.

Here’s our full approach, from the moment we spot a building to the final exit.

Why Having a Defined Property Conversion Process Matters

Conversions involve more stakeholders, more moving parts, and more risks than a simple refurb or flip.

Without a structured process, things can fall apart fast.

With a process, you stay on time, on budget, and compliant.

That’s why our projects always follow a clear, step-by-step flow.

Step 1: Finding the Right Property

It all starts with identifying the right building. We look for:

• Properties with clear conversion potential (layout, size, zoning)

• Undervalued or underutilised spaces (ex-care homes, offices, large houses)

• Local demand for the intended use (e.g., professional HMOs)

Once we’ve done our property deal assessment, we begin pre-planning.

Step 2: Planning and Paperwork

This is where the property conversion process really kicks off.

• Instruct architect and planning consultant

• Prepare and review drawings

• Instruct principal designer (required by Building Regs/CDM)

• Speak to HMO inspector if relevant

• Change over utilities and council tax

• Begin broadband application early - it takes time!

We also get at least three quotes from contractors, then sign with the one that’s the best fit - not always the cheapest.

Step 3: Starting the Refurbishment

Once planning is sorted and the team is in place, we begin works:

1. Any structural changes first to make the property watertight

2. Full strip-out

3. First fix (electrics and plumbing)

4. Plastering and prep

5. Second fix (sockets, switches, radiators)

6. Install kitchen(s), bathrooms

7. Decorating and flooring

8. Snagging and final clean

This phase is always project-managed closely - delays here cost money fast.

Step 4: The Exit Strategy

Depending on the project, our exit is either:

• Refinance (pulling equity back out and retaining the property)

• Sale (selling for a profit)

We prepare:

• Final photos and marketing

• Tenants (if refinancing)

• Broker-ready financials (for remortgage)

• Completion docs and investor returns

A well-managed property conversion process ensures that whatever exit we choose, we’re ready.

What Makes It Work?

• Strong team - architects, planners, project managers, contractors

• Realistic budgeting - always with contingency

• Clear communication - especially with investors

• A repeatable structure - no guesswork

Want to See It in Action?

We share regular project updates and walk-throughs on Instagram and our blog.

Follow us behind the scenes as we turn ideas into income, one property at a time.