Renovating older properties, of course, comes with risks. But, for many, it is the quickest and most cost-effective way to get on to the property ladder. Often times properties that are run down will go for much less money at an auction or general sale that most newer buildings. Making them a significant investment. If you are a first-timer, it is good to have some idea of the steps you are going to need to take to give you the best chances of making some serious money back on your real estate purchase.
Renovating Older Properties What You Should Know First
Assess the current condition
The first and most obvious thing when renovating older properties is to do a real in-depth look at the house. Have there been any previous infestations? Subsidence? Signs of treated or untreated dampness? Any surface drainage issues? Commission a survey of the property and get everything in writing. You’ll be able to get better quotes from contractors.
The chances are you have some grand plans for the property and surrounding area. But if you start making changes without getting the right permission, it is going to cost much more in the long run. Just remember that these permissions might take months to come through. So think about what is worth the wait and what isn’t in terms of profit. Unfortunately, it is all part of the undertaking when renovating older properties.
All of those big ideas can start coming together now. When renovating older properties, make sure that you get the right contractors for the right price. Chances are you’ll have help from a project manager with timings and keeping work on the right track. So your roofing contracts won’t arrive at the same time as your replacement windows contractor, Lakeside Exteriors if there are any work clashes. The interior can also go through that significant change too. The property will slowly come together.
As soon as the roof is on and the interior is weatherproof, you can move on. This will be the time to fix all of those smaller issues too like bad guttering, wobbly paths, the overgrown gardens also.
When renovating older properties, the walls are going to need to be plastered before you can even consider adding colors. The floors will also need attention. It is a good idea to do the walls first, just in case of any rogue plaster that might damage that new flooring. Cover any fixtures and fittings that are at risk of plaster damage.
Once you have the floor laid and the plastering done, you’re going to need for the whole house to dry out. So have a coffee and check the real estate market, this takes up to 6 weeks. The hardest part of renovating older properties is having the patience to wait.
Once you head back in you will be able to see what needs a touch-up, if there have been any issues. Start putting on handrails, pipe protections, skirting boards, doors and any other fitted furniture. The most exciting part of renovating older properties is watching the results all come together.
Now it is time to decorate, add in carpets, any flourishes like handles, tiling, and white goods in the utility room or kitchen. Once down, you can sit back for a few and enjoy the hard work that was involved. You will have more experience under your belt when renovating older properties now and you should feel proud. It sounds easy, right? Well, with the right people in your corner you can make a neat profit from a run down old building.