There are many benefits to renovating property, as opposed to just buying move-in ready. You’re able to strip it right back and start over, making it look however you want and can customise everything from the layout to all of the finishes. You could renovate a property to sell for a profit, or you could renovate your own home to make it more functional for what you and your family personally need without having to move to a new home. However renovating isn’t without its problems, and unless you know what you’re doing, you could uncover all kinds of expensive issues and massively cut into your profits. Some newbie renovators have actually ended up losing money. Here are some of the things to be aware of if you’re considering taking on a project.
Asbestos is a material which was once hailed for its insulating and fire resistant properties. However, the problem occurred when years later it was discovered that it’s highly dangerous to human health. When it’s disturbed, tiny particles are released into the air which can then be breathed in, and cause damage to the lungs and body. Cancers and asbestos poisoning still claim the lives of many each year due to working with the substance decades ago. When you begin knocking down walls, and in the renovation process of an older home, there’s a good chance you will find asbestos. It has to be taken care of by a team of professionals, and it’s not likely to come cheap, so it’s something to budget for when you’re planning your renovation. If you have a survey done first, they will be able to let you know for certain if there’s asbestos.
When you’re renovating a property, it’s so easy to overlook the roof. You might be busy planning the layout of rooms, dreaming about paint colors and the furniture you will choose once it’s finished. But the roof is of course massively important, and make sure you’re not overlooking this. If there are any missing tiles or damage, your newly renovated property will end up with leaks and other issues. You might be able to get away with just a repair. Otherwise, a complete refit if it's not salvageable. Spend some time considering the material you want for the roof, you can find more details at Clayton Restoration about what to pick and why. It seems like an obvious part of a renovation but is something that can easily be overlooked.
Plumbing and Wiring Issues
If the house you’re renovating is old or hasn't been touched for a while, chances are it will need new plumbing and wiring- even if it appears to still work. Before 1984, many homes weren’t even wired with an earth cable, without this you’re susceptible to electrocution if there is any kind of overload of power. Plus old wiring or wiring in abandoned properties could have also been chewed by rodents or be damaged in some other way which can cause electrical fires. The plumbing in the property could also be a problem and an expensive one at that. If any of the pipes aren’t adequately insulated they could burst, or even in less extreme (but still massively problematic) cases slow leaks could occur and lead to expensive damage further down the road. The last thing you want to do is finish your property, and then have to start tearing out walls or floors to sort out plumbing or electric issues. So make sure these are up to scratch before moving onto anything else.