In an earlier blog post I mentioned the details that go into building a new home or rebuilding an old home if needed, so I decided to create a new blog post discussing renovating an older home. While it can actually be cheaper to build a new home as opposed to renovating, it can on occasion be cheaper to renovate. For most, it is also easier and better to renovate instead. Building your dream home does not necessarily mean that an older home needs to be destroyed, and in fact the best part of renovating is allowing to keep the better existing features of the home while changing the rest, especially since most people plan our their dream home planned around the parts of the home that you already love. It would actually be the best for both worlds if you built your new one around your old home. But the fact is, you can create your dream home even easier when you are renovating an old property as opposed to building or rebuilding one. So here are a few things that may help you come along this journey in small steps.
Assessing a project
You should always ensure to plan ahead, even if you have a project in mind already. Most old properties have huge renovation potential, but you have to note that the key here is assessing the financial potential and designs before you have committed yourself to a project.
Getting the deal completed
Remember, there is a really high demand for properties which work still has to be done for, and many self-builders that have their own project they want to put their stamp on. So what you need to remember is that the amount of ways to purchase a property are varied, and you can use anything from access auctions and sealed bids to looking at a self-builder renovation mortgage. This always leaves you with the option for financing.
The design process
This was one of the topics that we had focused on in another blog post, but you should note that there are many processes you can use. There is the option of finding a designer for your project to help, who you can use to find out the finances behind the project for yourself. They can also ensure that you avoid the usual renovation design mistakes, and also help with other matters such as planning permission steps and help you consider energy efficiency.
Restoring and repairing existing property fixtures
What attracts many self-builders to renovation projects is building around the original features, as they can be for some very charming. That is why it’s a very smart idea that you keep in mind the renovation, repairing and restoration for these original fixtures also. Adding them into the original budget would be wise planning also, adding in factors such as fixing the windows, wooden beams, doors and roof, as well as the flooring.
Changes to the structure
Again, remembering to factor in such decisions as if you would like to add space or changing spaces that already exist within the property such as the garage, basement or loft is useful. On top of this, you may also decide to change the structure of your home internally, and you must budget these changes in advanced to not go too high over your budget.
Changing your home externally
Remember that most people see your home from the outside first, and you may decide that you want to change some of the external features of your home which will make you feel differently about the home, and in turn make the home feel different. So remember to realistically budget these changes, as it is surprisingly easy to make these changes!
If you are able to financially, you may decide to extend your home (the same as adding space) by creating entirely new rooms. You need to make sure that your building can actually be extended by looking into your properties listing, but you should make sure the budget covers extension costs, building regulations, permission and designs.
Heating and electrical updates
You need to make sure that before the project is underway, you can actually do the work itself, and knowing that you can means that you need to ensure that you know what exactly must be done. Many people forget that older houses needed heating and electrical updates, so ensure that you already know this.
Turning your home or property as eco-friendly and energy efficient as possible is important, and not only has practical implications but also makes your home look more attractive and economical. So make sure that you keep that in mind with the updates!
Once you have completed the structural work of the property, you can start the furnishings. This will decide how your home looks but can also be expensive, so ensure that you plan exactly what you would like from the flooring, woodwork and walls and not make a mistake!
These are the simple steps for your new renovation, but if you need more information on any subject just let me know!