Renovating a period home and restoring it to its former glory can be very rewarding. A restoration can both provide you with a chance to understand the history of the building and significantly enhance the value of the property.
Period property for renovation. Source.
Identifying The Right Restoration Project
If you are looking for a home to renovate, it is important to do your research on the property before you purchase it.
Auctions can be a good place to find a restoration project, although it is important to view the property and obtain as much information as possible before the auction.
Have a thorough survey carried out of the building before you purchase it so you are as prepared as possible for the potential challenges ahead. Even with a thorough survey, restoring period homes can present some unforeseen problems. Therefore it is important that you ensure there is extra contingency money set aside.
Restoration Projects For Sale
If you are currently looking for a restoration project it is important to consider that, depending on the condition of the property, you may not be able to obtain a mortgage to purchase the property. If you are not able to purchase a property without a mortgage, you will probably need to choose a smaller renovation project.
Research The History
Once you have brought your restoration project, don’t rush into any major work. Research the property and local area and read as much as you can. Find out as much as you can about local building materials and styles.
Join relevant organisations, such as the Listed Property Owners Club or the Society for the Protection of Ancient Buildings who can provide advice on your restoration. If the building is listed, or in a conservation area, check your legal obligations and apply for planning permission, if required.
Repair Rather Than Replace
When possible, repair rather than replace. If you are lucky enough to have the original period features, see if they can be repaired and restored before choosing to replace them. This will help keep the character and heritage of the property and may also save you money.