One of the most important steps in life is to become a homeowner. Often this occurs for the first time once an adult is in their late twenties or early thirties and has been in stable employment, generating a suitable level of income to afford a down payment on a property. Getting on the housing ladder is a major achievement in 2023 when high levels of inflation and an emerging cost of living crisis make it more challenging than ever to own a home.
However, a more cost-effective way to get onto the property ladder could be to restore an old home that needs substantial renovation and building work. The purchase price of such as property will be significantly lower than a home that’s fully serviced, and it’s an ideal option for people who are competent at DIY and have construction knowledge.
If you’re planning to restore an old property, there are some essential points to consider. In this article, three key steps will be discussed that will be helpful when planning to restore a property.
- Understand your total project costs
As a first point, it’s incredibly important to have a thorough understanding of the total costs that will be incurred for all parts of the restoration project. Put simply, material, equipment, and labour costs need to be accurately budgeted for to ensure that you have the finances to complete the work and don’t underestimate any parts of the project. You can read more about how to accurately budget for a large-scale home restoration project by clicking here.
Remember that your budget will be heavily influenced by the choice of materials for various parts of the construction and restoration work. Choosing cheaper materials (such as laminate or composite materials for surfaces instead of hardwoods or stone) will save you significant amounts of money whilst providing a suitable finish for key rooms.
- Consider the flooring
In many old homes that need significant restoration, the flooring will be one of the main considerations. It’s likely that the flooring will need to be completely replaced if it’s no longer structurally sound or has rotten boards. A key stage in replacing flooring is to add a waterproof layer to the structure by using a grout pump. This will ensure that the floor doesn’t rot or sustain groundwater damage over time.
Look online for firms that offer grout pump hire machinery and get a range of quotes. Such equipment is relatively easy to use if you have a reasonable level of DIY knowledge and the key step of waterproofing your floors before laying the top surfaces will ensure that they last for decades to come.
- Get several trade quotes
As a brief final point, you’ll need to get a range of quotes for all the contracted work that needs to be undertaken which can’t be done yourself. This will ensure that you have a clearer understanding of the costs for each stage of the restoration that needs to be contracted out and can continue to make an accurate budget.
In addition to gaining a range of quotes, it’s important to read consumer reviews of the firms on sites such as Trustpilot and Google Business. This will help to provide assurance that you’re dealing with reliable and professional firms who will deliver on the work that’s required.
