There are several reasons to buy a pre-existing home and the purchase comes with both benefits and challenges. Often they are less expensive than newer homes or they are located in established neighborhoods that are closer to shopping, schools and other amenities.
If you want to upgrade the home to modern standards or change the home to suit your needs or your decorating tastes you will need to decide if you want to repair, remodel, renovate or restore it.
Repairing the home would include fixing whatever is needed to make you comfortable and make the house sound and safe for your family. This can be as simple as repairing a few pieces of siding or repairing weak handrails or patching drywall.
Renovate means “to make new again”. This includes things like repainting, installing new light fixtures, re-facing kitchen cabinets and countertops. The design of the house isn’t altered but updated to new standards. Often we call it ‘refreshing’ a home. Renovating a kitchen or bathroom will increase the change of a sale and is usually the best renovation investment you will make.
Remodeling means to alter the structure. This would be a significant change to the use of space like taking out a wall, opening up the kitchen to the living area or adding an addition to the home. This is a more costly investment because it often involves electrical and plumbing changes as well as the construction and design costs. Find out from your REALTOR© if they think your remodeling plans will add value to the home or potentially price it above the value of other home in your neighborhood.
Restoring means to bring the home back to its original appearance or condition. Typically this is done to historic homes but the term can also be applied to modern homes. If the house has a good structure and needs no major mechanical repairs or renovations this can often be the most cost effective treatment. Taking out the carpet and restoring the wood flooring for example would be a restoration project. If the floor is in good condition, this might cost less than installing new wood flooring. However, taking off the vinyl siding to reveal the original wood siding underneath can become a ‘fixer uppers’ nightmare.
Always expect the unexpected. Restoring an historic home comes with its own set of rules, depending on the location and the house itself. If you want to add a recreational room to that Craftsman bungalow, make the addition blend with the home.
You should ask yourself these questions before you begin to make any changes to your home. Will the work I do on the home be a good investment or do I just want the pleasure of enjoying the changes I am making while I live in the home?
Don’t be afraid to repair, renovate, remodel or restore. Just do your homework before you invest your time and money (and energy) into any home improvement project.
Ask your local REALTOR© at Azalea Real Estate and take advantage of our years of experience and let us help make your real estate experience less stressful and more fulfilling.
Visit www.azalearealestate.us to preview homes or contact Aleta Boudreaux at Azalea Real Estate Agency at 251-656-4576 for more information on selling or purchasing a home and to tour homes in the area. ©Aleta Boudreaux, 2015