More homebuyers – both new and experienced – are going the old house route. These have become easier to locate with the popularity of TV shows like This Old House and Cheap Old Houses. Restoring an older home can be both satisfying and profitable, but it’s also a major commitment. Here are some things to keep in mind before you begin shopping for that Greek Revival or Italianate fixer-upper.
Research the home’s style and history. This helps identify the home’s original building materials and will help you find suitable substitutes if needed. It’s also worth contacting your state’s restoration society or historical commission website for guidance. Some states may offer you a grant, tax credit, or both in exchange for helping preserve local history.
Check out possible limitations. If your chosen home is in a “historical district” or similar, you may be required to follow certain guidelines or obtain permission before you begin your restoration or remodeling work.
Find the right contractor. If you’re confident you have the skills to complete restoration on your own, this is a big plus. However, you may need to hire a specialist if you run across major structural, plumbing, or electrical problems. This is because your home’s foundation or electrical wiring may be very different from modern homes.
Start renovations in the right area. This is especially important if you’re purchasing a property without modern heating or cooling. Experienced renovators often make the main bedroom, bathroom, and kitchen habitable before move-in. This ensures they’ll always have a comfortable living area…..something you’ll want too.
For more information on buying an older home, please contact Falvey Real Estate Group 518.452.3912.