If you’re looking for an answer to the question of what to look for when buying a house to renovate, you’re in the right place. Finding the correct answer depends on several different things. The most important one is knowing why you’re buying a home.
Those of you who are buying and renovating an old house to live in will look at things differently than those who want to remodel a home to sell it and make a profit. In either case, knowing what to look for is essential, as it can significantly simplify the process of renovation and lower your overall expenses.
In this article, we’re going to cover different types of renovation expenses you might face when buying a house and renovating.
The first impression is always essential when it comes to properties. It all starts with taking a closer look at the fence. See how it fits with the house type and the whole neighbourhood’s style. That’ll give you an idea of whether the fence needs any work.
You could also take a look at the house yard. Is there anything you can do to make good use of the space?
When it comes to renovating these two parts, the good news is that the expenses are usually not that high. So whether you’re planning to use or sell is not essential, but taking care of fencing and outdoor space should be on your to-do list.
The front and driveway also significantly impact the first impression your home makes on visitors or buyers. If you want your property to be appealing, make sure the front and the driveway are in top-notch condition.
It’s a good idea to find a property with that already in place, as heavy renovations are quite pricey. The better the state of the exterior, the less you’ll have to spend on improving it.
House windows fall under the list of parts that are expensive to change. While this might be the right solution for those who want to use the house, those looking to make a profit will simply prefer to repaint the windows.
Our recommendation is to use dark colours for the window frames which are not in the best condition. That will hide any minor, but visible, flaws.
Pay close attention to the floors’ state in a house you’re planning to buy, as renovating floors can be quite expensive. Whether we’re talking about a carpet, tiles or wood, home renovation costs will jump significantly if you have to make any changes.
Roofing is yet another critical house part that influences what the first impressions about the property are going to be like. Make sure to inspect it closely, as it can also add extra costs to your renovation budget.
We recommend setting a budget for minor roof repairs — just in case.
House wiring is crucial for everyone’s safety. It is a good idea to have the property inspected by a professional. That way, you’ll know whether you need to make additional investments. In case you want to live in the house for an extended period, investing in rewiring is a great idea.
But those looking to resell should find a house with the right wiring in place.
When it comes to old homes, they often require kitchen and bathroom renovation. It’s a good idea to see the state of tiles and how much needs to be changed. There’s always a chance that only one of these spaces needs renovation.
House restumping is often recommended for older houses. Similarly to wiring, this kind of renovation is maybe better if you plan to use the property for a longer period. If you plan to make a profit by reselling, it might be better to get a house that does not need this part renovated.
Don’t forget that restumping might require a license. Check what the local regulations are before purchasing the house.
If you’re wondering how to buy and renovate houses for profit, you now understand the more significant expenses to avoid. It’s better to focus on the “facelift” renovations that’ll quickly improve house looks.
On the other hand, if you plan to use it, then the key points above will help you pick the right property to renovate.
In case you need any renovation services, you can always reach out to us. We want to hear from you and help you get that house in perfect shape.