Buying an old home and then renovating sounds like a great idea, and for many people is the best and cheapest way to own a home. However, there are a few things that you need to look out for before proceeding with this plan. Some of them include:
Have the home inspected before you buy it
Since it may be at a low price, some people buy the home and then have it inspected to determine how much it will cost to renovate it. You may find that the cost of Calgary home renovations for some types of homes is much higher than for others. As a result, you may either find it unaffordable to renovate the home or spend far too much time doing it. Have the house inspected before you buy it, preferably by two independent inspectors. They will tell you everything that is wrong with the home, as well as what you will need to do and how much you will need to spend. If you are satisfied with this, then you can buy the home.
How long has the house been empty?
Some old homes will be occupied when on sale, but the vast majority usually have been empty for some time. This length is important since it will determine how much you have to do. For instance, if a home has been empty for several years, you can expect issues such as wood damage to be worse than a house that has not been occupied for one year. You may also have to contend with problems such as worse pest infestations if the home has been unoccupied for a long time. Keep this in mind to know whether it would be wise to buy it or not.
Pay special attention to the structural integrity
When the house is being inspected, always ask the person doing it to be thorough when checking the structural integrity of the home. If they don’t offer this service, get a contractor who does. The structural integrity of a home may contribute to very high renovation costs. For instance, if all the walls are in bad shape and cannot be repaired, you will basically need to tear down the house and build it up again. However, if only a few walls are in this state, you can replace the few that are in this state and then repair the rest. The other importance of paying attention to structural integrity is that it will affect the safety of the home. You don’t want the house caving in on you once you have settled in it because of issues such as foundation instability.
Remember lead paint and pipes
If a home is very old, chances are that it will have some paint and even pipes that have lead in them. This has been proven to be dangerous particularly to developing children. The paint will flake over time, and some of these will be inhaled. Water within the lead pipes may be contaminated with lead salts, and if ingested by your children for a long time will cause long term health problems.
If you want to be safe in the renovated home, you may need to repaint it using safer paint, and to get rid of almost all the plumbing for safer types. Always remember to check this, and include it in the cost and process of renovation if necessary.
These are some of the basic issues you have to pay attention to when considering buying an old home and then renovating it. When done right, you will end up with a beautiful home that will have cost a lot less than its real value.