Things to Look Out for When Buying a Home for Renovation

Purchasing a home for the purpose of renovation alleviates the cost of buying and selling a new home whilst also adding personalised comfort and extra space to the home. Therefore, you don’t have to deal with the hassles of changing neighbours, neighbourhoods, friendship groups and schools.

You should always carefully plan and consider the factors of renovating a property in order to ensure the possibility of frustrating setbacks is diminished. A qualified Adelaide building inspectors can assist you to understand what you need to know before purchasing a home for renovation. Building inspections seek out any imperfections a property contains and will give you a greater knowledge of what you can to do to make the property more liveable and/or profitable.

 

Why Are You Renovating?

Knowing the reason for renovating is important, as you might be planning on leasing the property, selling it or continuing to live there. The purpose of your renovation significantly alters your budget, the category of renovation and the end result of the renovated property. If you are seeking to lease the property as an investment, you can simply add a few low-cost refurbishments that will enhance the return on your rental.

If the purpose of renovating is to sell the home upon completion, your sole focus should be maximum the value added to the property in order to receive a decent profit. If you are planning to stay on living at the property after renovating you can direct your time and budget toward refining the details of the property.

 

Know the Regulations

Any renovations or extensions require both planning and building approval before commencement. Factors such as heritage restrictions may get in the way when looking to build out or up. Check council regulations before beginning even the planning stages of your renovation – there could be trouble otherwise.

 

Understand the Floor Plan

Does the property contain a solid floor plan? This is an imperative factor of selling a home and therefore it is important to know if your floor plan if functional, practical and allows effective foot traffic throughout the home. This, and ensuring the property makes the most of any natural lighting are important factors for renovating a purchased property.

Hold a Building Inspection

A qualified Adelaide building inspector can ensure your property doesn’t have any hidden imperfections that require repair or renovation. They understand the ins and outs of a property and any hidden defects, so they are a valuable partner when it comes to purchasing a home for renovation.

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *

*