Who has never wanted to renovate an old house? Buying an old farm or a house in poor condition to renovate it from A to Z is a beautiful way to appropriate a living space, while making a real estate value. But beware: the renovation of an old house is not addressed to anyone, and requires many works. Need tips to tackle such a life project? We’re here for that!
Why seek to renovate an old house?
Rehabilitating an old house is far from a bad idea. Each year, many owners embark on the purchase and renovation of an old house.
Why rehabilitate an old house?
It must be said that refurbishing a farm or a house abandoned has many advantages:
- Old houses often have more charm and “soul” than new houses.
- Renovation work is often faster than building a house.
- Rehabilitation is a way of appropriating a home for you without having to build it.
- In some cases, renovating an old house allows you to have a single property at a rate that can be very advantageous.
Sometimes rehabilitating an old house may be the only way to enjoy the home you dream of. So it’s a very interesting project.
The limitations of such a renovation project
Nevertheless, let us recall from the outset that the complete renovation of a house is far from easy ! One should not idealize things or consider that renovating an old building is going to be done in a simple and fast way.
Here are some disadvantages that it is good to know before buying a house to renovate:
- The price of complete renovation of a house can be very high, especially if you do not do any of the work. The renovation is therefore not always less expensive than the purchase of a house in good condition, and it is sometimes even the opposite!
- It may be difficult to calculate the refurbishment budget for an old building. It is therefore a project to be prepared with great attention.
- Renovating your home alone can take time. Your real estate purchase may not be habitable for several months.
- The idea of renovating a house for resale is often quite risky, and very framed, and therefore not a safe investment.
If you are dreaming of buying an old building to renovate, it is still best to inform you about this type of work. Our advice is there to help you better understand this type of situation.
Renovation of an old house: where to start?
When buying a property to restore, it is important to make your choice of home with care .
It should be understood that the term “home renovation” may include a large number of different jobs. The more the house to be restored is dilapidated, the more it will cost and time to refurbish it.
It is therefore necessary to take the time to properly determine your project, and to find THE house to be rehabilitated that interests you. Your project will start with the following steps:
1) Determine which property to restore you are interested in
In the first place, and before you even visit real estate for sale, you will have to specify your renovation project .
Different questions are to be asked when trying to renovate a real estate for sale:
- What is your total budget (both for the purchase of the house and for its renovation)?
- What are your home renovation skills?
- Which works do you want to implement (masonry, framing, insulation, interior fittings, etc.)?
It must be understood that renovating a farm in ruins has nothing to do with remodeling a tired house. Steps such as the electrical renovation of a house or the renovation of the frame can quickly double or triple your renovation budget.
The more property you buy is in poor condition, and the more you are going to have to incur costs, skill and time to restore it.
2) Diagnose a house to be renovated
It seems good to specify in this article that the purchase of a property to be renovated is not always an interesting financial calculation compared to the purchase of a habitable house .
Therefore, it is better not to buy any property to renovate, even if its purchase price seems advantageous.
It is essential to properly diagnose the house for sale, and to check in particular:
- The condition of the roof and timber,
- The condition of the masonry and foundations (attention to facade cracks, which may involve foundations in poor condition),
- The condition of the plumbing and electrical installations,
- Moisture in the house (a damp house may result in significant sanitation costs),
- The state of the partitions and interior fittings,
- The insulation of the property,
- Joinery (doors and windows),
- Floor coverings.
In the case of a building in ruins: first check that the land is buildable and that the house is connected to electricity and water. Also ask the town hall about the steps to be taken for rehabilitation.