Buying and reforming
Are you planning on buying a house to be reformed?
Do you know which investments are profitable?
If this is your case, this week's article is perfect for you!
Buying a house that needs a reform can be a very good idea, it is usually cheaper than buying one of new construction and many of them are older properties and therefore don't count on financial charge.
If the house needs a reform, the buyer can benefit from this condition and get a reduction in the price. Important, it is very useful to calculate the costs of the reform before starting the negotiation, this will put you in a privileged position.However, which investments are actually profitable? And which not?
Investments are actually profitable:
- The "face wash." We call a face wash the small reforms that enhance the physical state of the property and that don't suppose a big disbursement. Thigs such as cleaning, painting or removing unnecessary furniture. None of these reforms are especially expensive and can make a house look completely different.
- Moving partitions. Changing or moving partitions can seem like a complicated job but it's actually one of the most profitable reforms in terms of quality and price. By moving partitions one can achieve reforms such as joining bedrooms or allowing more natural light to enter the rooms.
- Restoring and cleaning the floors. Sometimes it is just a matter of washing the floor and scrubbing thoroughly for it to look just as new. If scrubbing is not enough, there are many treatments for floors that are not very expensive and if this is still not enough you can restore them. With the wide range of possibilities available nowadays this won't involve major costs.
- Changing the windows. When we buy a house of these characteristics, we can find windows that don't insulate well from the cold. If they don't insulate, they consume more energy and this can increase the lighting and energy bill. This problem has an easy solution and doesn't present great charges.
- Exterior works. The exterior reforms usually work well. With a bit of cleaning and planting some flowers one can make a garden shine and look just as new.
- Choosing a good area. If the house is in a good location, this can compensate the need of a reform as the area can become an important point when deciding to invest.
Investments that we should avoid:
- Humidity. We all know that humidity can make its way into our property, but what we seem to forget is how difficult it is to get rid of it. It can appear in both floors and ceilings and if it is in one place, it probably appears in more. If we are talking about a full reparation, the cost can shoot up. It is better not to jump into it when making a reform.
- Changing the location of the bathroom or kitchen. Changing or moving any part of the house is complicated but if we focus on the bathroom or kitchen the complication increases. Both one and the other are connected to specific facilities that would have to be moved or changed and installed once again. This would include an additional and high cost.
- Detachments. Careful with checking the state of the structure before buying. A detachment can involve a surprising and not appreciated disbursement. We definitely don't want that! Careful with protected buildings! The risk in these cases is greater as for the reform specific materials would be necessary and this can break your budget
- Surface cracks. If a surface crack appears, something is definitely going wrong. If they are superficial this won't involve a major cost as the reform will not be very expensive but if it's a structure problem, there is definitely a reason to be alarmed. This will involve very high costs.
As you have probably seen, buying a house that needs a reform can be a very good investment. Remember to always check first that there are no associated charges to the property, that the facilities are correctly adapted and to calculate, on average, how much it will cost.
If we don't estimate the price of the reform, this one can shoot up. We don't want unnecessary shocks and the best way to avoid them is checking with a specialist. In Nova, we are here to help!!