5 Things to Consider When Buying a Property to Renovate
Getting onto the property ladder is becoming more and more difficult in modern society, and it can be frustrating for first time buyers who want to start creating a home for themselves. Fortunately, the process of buying a property that is in need of renovations can actually end up saving home buyers money in the long run if they have the upfront capital to fund a large scale project.
However, a complete home renovation isn’t a task for the faint-hearted, and there are many things that need to be considered before going ahead. If you considering taking on a renovation property, then here are five points that you should be aware of.
Be understanding of building regulations
Finding a fixer-upper can be wonderful, as it allows you the opportunity to turn what once might have been an average house into your perfect home. However, if you’re planning on making any kind of structural changes to the property, or are planning on extending the footprint of the house, then there is no getting out of acquiring planning permission.
If you’re lucky, the owners of a property might agree to obtain planning permission for some basic changes as a contingency of your agreement to buy the home, but more often than not, you will just have to take a leap of faith and hope that you will be able to make the changes you have dreamed of.
Getting a building surveyed
If your new building looks more than a little rundown and is going to have to undergo a lot of man-handling in order to be up to standard, a thorough survey will be vital for ensuring that you know about the worst of the problem areas around the property, and will inform you as to whether there are any hazardous zones that will need to be handled with caution.
Designing your new home
It takes more than a keen eye to turn a vision into well drawn out plans for a property, and if you’re planning on working with construction companies to make large scale changes, you first need to ensure that your plans on paper are problem-free. Therefore, you may want to consider getting the services of Houseup design & build in London, who can help you with every aspect of your renovations from design concept to project management.
Consider the practicalities
Renovating a property means a variety of things to different people. To some, it simply means making a property habitable, whereas others want to completely revolutionise a property and bring it up to modern standards of luxury. Either way, overseeing a renovation of any scale can not only be expensive, but incredibly stressful.
Therefore, you need to ensure that you have properly thought through the practicalities of your project, and determine whether you are at the right personal and financial stage of your life to make the whole project viable.
Creating a realistic budget
There is more to budgeting a build than there might at first seen, so make sure that you think everything through thoroughly before going ahead. When creating your budget, you should make sure that you leave a lot of scope for unexpected costs, such as building delays, material shortages, and the cost of unforeseen repairs.