You have found a prospective new home that is within your budget and has great potential. However, it is not as perfect as you wish it to be. It doesn’t matter though. You could always renovate when you have the time, and it’s not like it’s going to be difficult or expensive right?
Wrong. Contrary to the usual belief, renovations could actually cost you an arm and leg. Plus the whole process could be quite stressful and inconvenient especially when there are parts of your house that you can’t actually use.
We’re not discounting the pros of renovations though. For some people, getting one is the best decision they have ever made. After all, most probably, you could get the changes you want done specifically to your instructions. Before you decide to buy a house that might need some renovations done, though, let’s take a look at these points first:
Is it really feasible? You might have that dream project in mind and you can picture the results clearly in your mind, down to the tiniest accessories in the room. But ask yourself first- is it really doable? Sometimes there are architectural factors to consider, and more often than not, altering it or even adding an extra room could compromise the structure as a whole.
Can you truly afford it? Remember, you have shelled out for this new house and might still be paying for it. Add to those other expenses that moving entails. Do you really think there would be enough money to cover a renovation? If someone had given you a quote for the possible cost, understand that there is a possibility that it’s just an estimation and you’d probably pay a little bit more than expected.
Do you have the time and patience for it? Real life renovations are not like what you usually see on TV. They’re not as simple and definitely takes longer. You might have to eat out in restaurants for a month, take a shower at your parents’ house for a week, or even stay in a hotel for a while, depending on the scale of the renovation project you have. Also, do not forget that as the owner, you are responsible for securing building permits and other requirements.
While it is understandable that you think renovating is better than looking for another property, we also know that the latter is actually easier- especially if you have the right team working with you. Daniel and Bonnie Wan can help you find the right house for you- one that doesn’t need any renovations done. Interested? Call them at 905-883-8888 to know more about their services.