Sunday, August 31, 2014

Buying to Renovate

Recently, I had the unique opportunity to help my daughter and son-in-law hunt for their 'forever' home.  I was asked, as both an interior designer as well as a licensed contractor, to help decide between two old established homes, looking specifically at which home offered the most potential.

Like many buyers, my daughter and son-in-law were drawn to the traditional larger sized tudor home, which seemingly offered the space needed for their desired open layout.  The second home, a beautiful traditional stone colonial, was marginally smaller in size.  Notwithstanding size, each home offered uniquely different characteristics.  The realization had hit; this was going to be a difficult decision.  It was at this point in the search that my expertise was solicited.

Many prospective homes show nicely, providing the prospective buyer with the romantic, this is the house moment.  The overall style of the home, its facade, property and neighborhood are all a part of the hook.  However, if a house does not function properly, these once-loved characteristics fade quickly.  Determining if that home will function for the residing family is just the beginning.  It's important to assess the home based on a number of criteria:  structure (foundation, basement), mechanical standing (electric, plumbing, HVAC), building's envelope (roof, doors, windows).  If the property proves to have layout potential, it is always worth exploring further.

In the case of my daughter and son-in-law, the traditional stone colonial, not the larger traditional tudor, offered the most upside.  Revealed in a detailed Home Inspection, the colonial was sound both structurally and mechanically, relative to the age of home, showing clear evidence it was well taken care of through the years.  To function properly, however, the floor plan will be updated, admittedly, not inexpensively.  Most importantly, however, the updates made will be within the existing footprint.

In the end, for these reasons (structure, mechanical standing, layout potential, maintenance), the traditional colonial made the most sense to me...and eventually, my daughter and son-in-law.

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