While some people prefer to buy newer homes, others like the character of old-fashioned homes. Aside from the limitless possibilities of remodeling old houses, these structures often have cheaper price tags. In Portland alone, home prices ranges from $200,000 to $300,000, with an index of $276,000 in the second quarter of 2013. These prices are way cheaper than having a brand new home built.
Buying Old-Fashioned Homes
One of the advantages of buying old houses is their ambiance, compared to the mass produced homes that are usually limited in space and visual features. Since newer homes nowadays are built with a fast-paced schedule, they don’t last for a long time compared to old houses that were made by master craftsmen. Here are some of the things that might interest you into buying old-fashioned houses.
- Older homes are great for larger families since they often have more rooms. In addition, they also look larger than newer homes.
- Older homes are built to last for a very long time. They are great especially if you reside in a place that’s visited by natural disasters a lot (such as typhoons, floods, or earthquakes).
- Old houses normally go through remodeling processes after purchases. They tend to look like a house that you can’t afford.
- Older houses have better exterior and interior features. While newer houses tend to fool you with substandard aesthetics, older houses use the right materials to provide the perfect ambiance.
You will most likely contact a Portland restoration company before purchasing an old house. This way, you’ll know whether the house still has a good foundation and will have lesser maintenance costs after the purchase. You must be wary of hidden problems that might come up once your restoration project starts. In addition, older homes may have problems with insulation materials that pose health risks to your family. Make sure to have everything checked!
Questions That you Should Ask when Buying Old-Fashioned Houses
- What is the condition of the house’s foundation?
- What kind of electrical system is used in the house?
- Are there some problems with the plumbing of the house?
- What is the heating system used in the house?
- Is roof replacement needed?
It’s very important to ask these questions to know the concerns that you will address to the Portland restoration company. With these things, you’ll be able to figure out the entire cost of the house remodel project. If you’re planning to have the house equipped with technologies like the Internet, and modern appliances, make sure that your contractor knows about it too.
Common Mistakes in Remodeling Old Houses
One of the biggest mistakes in remodeling an old house is when you try to put a lot of money on it with no significant return of investment. If you’re going to add up a $100,000 renovation cost on a $100,000 house, the market value of the house won’t give you any profits. Here are some of the don’ts in remodeling an old house that you recently bought.
- Don’t set an unrealistic budget. If you’re going to have a major renovation, know how much it could cost and have an emergency fund for problems that might come up when the builder starts working in your house.
- Don’t ignore the paperwork. If you need a building permit for the renovation, do it immediately. This way, you can have your insurance policy cover accidents that might happen along the way.
- Don’t overdo styles. If the old house you bought was inspired by Romanian architecture, don’t mix it up with others. Stick to the house’s original concept. You just have to add up some more features that will satisfy your wants.
- Don’t buy substandard materials. If you want to cut the cost of the renovation, start with a minor remodeling project first. This way, you can have projects made properly with the best and long lasting materials.
- Don’t hire a contractor that you can’t trust. When you interview contractors, make sure that you ask questions that will give the answers that you need. Since the contractor will work in your house for quite some time, make sure that you trust the contractor.
Finding and Working With a Contractor
You’ll definitely have lots of recommendations from your family or friends when it comes to the contractor that you’re planning to hire. If you can’t get recommendations, at least surf the Internet about a trusted contractor in your area. In fact, you can even use social networking sites like Facebook or Twitter since most businesses nowadays have online profiles as well.
Once you’ve found the right contractor for your home renovation, it’s very important to get all the details of the project written in the contract. This way, you won’t have any problems of additional costs when the project starts. Have a schedule to inspect the work done by the contractor, and communicate when some issues come up.
For example, the contractor has provided skilled workers for the project but you don’t like the person who’s handling the paint job. In this case, being able to communicate with the contractor without any problems will let you address the issue and have the person replaced with someone who can do a better job. This is a great way to save time and money as well.
Additional Remodel Tips
Before making the final payment for the remodeling project, make sure that every little thing included in the contract is completed properly. Since renovations leave a lot of mess in the house, it’s best to have the contractor make everyday cleanups. This will keep you away from worrying about safety issues that might come up after the project.
Be prepared for maintenance costs after the project. You have to understand that you’ve bought an old house and some materials might falter in the future. If you’re planning to resell the house, asking a real estate agent about the features that will add up to the house’s market value is a must. This usually includes updated wiring and plumbing systems.