Owning an older home is a goal for many prospective homeowners. The rich history and ornate construction that come with a lot of these homes are key reasons why they are so popular.
Like all homes, older homes need to be kept up with in order to maintain their overall health and structure. Because of their age, these older homes often require even more maintenance.
Renovations are often a common choice when dealing with older homes. Before going into a renovation, it’s important to weigh both the pros and cons of the decision.
Added Value: Renovations, in general, will almost always add value to your home. Whether it’s just an update, or a complete addition or refurbishing, you are sure to add some resale value to your home.
However, its important to ensure that these renovations don’t detract from the historical value of the home, as this may hurt you in the long run.
Modernization: Renovating your older home allows you to upgrade from dated materials or technologies. Newer homes are often equipped with insulation and piping that are much more efficient than older ones. A blend of history and modern implements can provide a very comfortable living space.
Expensive: A problem many homeowners face with old homes is that they can be very expensive to renovate. This stems from dated technology, as well as the large scope that these projects often take. It’s often harder to find compatible materials for a renovation when the home isn’t modern.
More Than Meets the Eye: Many older homes look spectacular on both the outside and inside. However, years of exposure to inclement weather can take its toll. The extent of damage to the foundation and support of the home may not be entirely visible. Renovations of such homes can be very costly.
Older homes serve as the top tier for many homeowners, but owning and renovating one comes with its own share of positives and negatives.