Renovating an old property is one of the most exciting and rewarding projects you can embark on, but it can also be one of the most demanding. Therefore, if you’re thinking about diving into a property renovation project, it’s imperative that you understand each stage of the process and all common challenges that you need to prepare yourself for.
Not only will this steel your mind against any potential obstacles, but it will put your mind at ease. So many people are put off by the scale of the challenge when it comes to renovating a property or feel too much imposter syndrome to get started.
This is a travesty because it doesn’t take any incredible skills to manage a property renovation. All you need is the ability to withstand pressure, to remain unemotional when times are tough, and to be organized with your ability to manage the construction team.
To help you gain a clearer understanding of what a property renovation project entails, these are the basics that you need to know:
Find out whether the basic structure and roof is in good condition
When it comes to a property renovation project, a stage which puts many people off is assessing how much work will actually be involved. This means examining the property in its current condition and working out how much you really need to change.
The good news is that it isn’t rocket science. You can enlist the services of a surveyor to give you a professional diagnosis. What you need to look out for are the big jobs—such as subsidence in the foundations of the property, unsafe walls or flooring, or a decrepit roof.
Of course, these problems shouldn’t put you off if you can budget for it, as you can find roofers in Sanford FL for a reasonable price, for example.
Estimate how much the project will cost versus how much the property will be worth
Another crucial element of the property renovation process is to work out just how much the property will cost to put right. By creating a realistic budget, you’ll be able to get your finances in place and work out if it’s the right property project for you.
You should also make a calculated estimate of how much the property will be worth when you’re done with it. As long as it’s worth more than the amount it cost to buy and to renovate, you shouldn’t be taking too high a risk.
Make sure you have a team of contractors in place
A further point that’s worth mentioning is that your property renovation project will only be successful if you have a team of professionals on hand to complete the work for you (unless you’re qualified and experienced yourself of course).
Not only is it crucial to find effective contractors, but you should find people who are easy to work with and can support you properly. There’s nothing worse than hiring a builder who overcharges you or fails to turn up on time, or a plumber that rug pulls you on price.
Once you have the right team in place, you’ll find the project far more manageable than you might expect.