If you’re interested in taking advantage of a great price on a fixer upper to then renovate and actually put to good use, it’s vital that you know what you’re getting yourself into before you take on this kind of project. Especially if you’ve never renovated a property before, it’s very easy to make some beginner mistakes that can cause you to lose a lot of money in the process.
To help ensure that this doesn’t happen to you, here are three tips for renovating old properties for future use.
Start With The “House Sandwich”
Once you’ve secured the property that you’re going to renovate and are getting started with the remodel and renovations, there are two parts of the property that you should focus on first: the foundation and the roof.
When you go about renovating in this way, it’s called doing a “house sandwich”. With this strategy, you focus your attention on the most important and vital parts of the property first. Without a sound foundation and a solid roof, you can’t hope to use the building in any capacity. But once you have a foundation that will safely support the property and a roof that will protect you and everything within the property, you can move forward with more superficial renovations.
Choose The Right Cosmetic Projects
When you’re ready to move forward with cosmetic projects, it’s crucial that you choose the right projects to spend your time and money. Otherwise, you could be pouring resources into projects that aren’t going to give you any kind of return on your investment.
Ideally, you should try to take on cosmetic projects that don’t cost you much to complete but that can make a big difference in how the property looks. Some of the best projects to do under these guidelines include things like painting, fixing drywall, and refinishing any hardwood floors that need some extra love.
Don’t Lose The Character
One of the great things about old properties is that they hold a lot of the character from the time that they were built. And while some of the aspects of the home might need some TLC, the last thing you want to do is complete so many renovation projects that you cause the property to lose its character.
For many people, the character of a property is what makes it more appealing over other cookie-cutter properties. So if you’re hoping to ask for a decent amount of money on the sale or rent of this property, make sure you have a solid reason for doing this, like having a property that has some great character.
If you’re wanting to buy an old property to bring into the future, consider using the tips mentioned above to help you learn how to best do this.
