7 things to look for when buying a house to renovate
Renovating a property can be an exciting, daunting and extremely rewarding project. But it's important to ensure you choose the right property so that your investment and renovation efforts pay off. Here are our seven most important things to look for when buying a property to renovate.
1. Good Bones
Find a house with solid existing construction and a strong foundation. This will ensure that your renovation is built on a strong base and will help prevent problems and additional costs like structural damage or shifting over time.
Ensure you hire a local building inspector to check if a property has structural issues (including mould, termites, and electrical or plumbing faults). If there are any issues make sure these are clearly documented and factored into your negotiations and an allowance is added to your estimated project costs.
2. Neighbourhood
Consider the neighbourhood where the house is located. Look for areas that are up-and-coming or in high demand, as this can increase the value of your property once the renovation is complete.
Some Northern Beaches suburbs that are predicted to continue seeing a growth in popularity are Balgowlah, Newport and Warriewood.
3. Layout
It's important to carefully consider the layout of the new home. The layout of the house can have a significant impact on how functional and comfortable the space is, so it's worth taking the time to evaluate the layout before making a purchase. Consider factors such as:
The number and size of the rooms (do the current spaces align with your vision?)
The flow and structural elements of the spaces (it can be more affordable to renovate a space if the rooms already flow or are not structural)
Consider the space outside (if you’re open to extending the home, the front yard or backyard is crucial)
If your circumstances change in the future, is there flexibility to revise the layout to suit your needs (family growth or elderly family moving in)
4. Natural Light
Look for a house with plenty of natural light, as this can make a big difference in the overall feel of a home. Natural light makes a space feel brighter, bigger and more inviting. It can also help to lessen energy costs by reducing the need for artificial lighting during the day.
Rooms that benefit the most from natural light include the kitchen, living room, home office and bathroom. If spaces of a home are already positioned in a direction to receive natural light this will make the renovation process easier and more cost-effective compared to rearranging spaces to better take advantage of the sun.
5. Potential
Consider the potential of the property. Look for features like high ceilings, architectural details, or unique elements that can be highlighted or restored to add value to the home.
6. Price
Make sure that the price of the house is in line with the cost of the renovations you plan to make. Always consider a property’s current condition as this can have a big impact on your renovation costs.
It's important to have a realistic budget and to factor in any unexpected expenses that may arise.
7. Zoning and Permits
Check the zoning regulations and permits required for the renovation. Make sure that you understand any restrictions or requirements before you begin, and be prepared to work with local officials to obtain necessary approvals.
Information regarding the planning of building and renovation projects within the Northern Beaches Council can be found here.
By keeping these factors in mind when buying a house to renovate, you can ensure that you choose a property with the potential to become your dream home.
If you’re looking to renovate a home on the Northern Beaches get in touch with Above Building
At Above Building, we offer custom home renovation services to help bring your vision to life. Contact us today to schedule a consultation and start planning your renovation project.