Things To Consider When Buying A Home That Needs Renovating

One of the most rewarding and profitable ways of making the most of the property market is by completing a home renovation. Whilst renovating a property is rewarding not a lot of people mention the hard work, dedication and organisation it takes to take on such a project. Castles Estate Agents are going to talk you through all the things you should consider when you are thinking about buying a renovation home. If you would like more information about buying a home, please get in touch with the Castles team at 01793 611677.

Planning Permission

 

Whilst it is true that with most smaller renovations you will not require planning permission. It is always best to investigate this further before buying a property. If you are planning on making any structural changes or extensions to the property, you will need to get consent from the local authorities, which could take up to 12 weeks, so make sure to make manage the rest of your plans accordingly. 

Time

Renovations take a lot of time which means it is important that you have that time to invest in the renovation. It must be the main priority of yours to reach out to professional tradesmen for advice in aligning expectations before committing to anything. If you need to move into a home in a short period of time, then a renovation project probably isn’t for you. 

Budgeting 

You really can bag a bargain when it comes to buying renovation property, however, it is important to make sure that you don’t overspend whilst renovating the property. It can be very easy to get over-excited and carried away in the early stages of renovation, detailing exactly what you would like your dream home to look like. 

 

It is important to be realistic about the amount of time and money that you’re going to spend on the project. The best way to manage this is to create a spreadsheet listing all the things you would like to do to the property. Make sure everything is on the list, from a brand-new kitchen all the way to simple tasks like a lick of paint, everything will add up. After you have written this list get quotes on labour and materials to fill in the spreadsheet. This will give you a rough idea of how much the whole project will cost. 

 

Adding Value

It is well known that renovating a property can be a brilliant investment in the long run. Investing in areas in your property such as the kitchen, bathroom and unused spaces such as the attic or the cellar can add a lot of value to a property. 

Smaller details 

 

Not every task in a renovation project needs to be a huge undertaking, or with large profits in mind. If you are not successful in finding a property you like the look of, sometimes taking on a project is the best way to create a home you love. Smaller details when renovating a property shouldn’t be overlooked as altogether, they can make a big difference. A few defects which need to be fixed are as follows; peeling paint, squeaky doors, dripping taps, dated decor and lose tiles. 

Castles Estate Agents 

 

When it comes to buying a renovation property it is important to consider if the choice will benefit your circumstances, lifestyle and budget. Overall, buying a renovation property is very exciting and can be a brilliant investment for the future. If you would like help, advice or would like to start your property search in Swindon, the team at Castles Estate Agents would be more than happy to guide you to the home of your dreams. Please give us a call on 01793 611677.