Fearing the unknown and questioning your decisions is a normal part of the home buying process. It’s even more normal when buying a home that you plan to remodel. Uncertainty about your vision being within budget, indecision about committing to more than just cosmetic work or hesitation about what will surface from the home inspection—these are all feelings any buyer experiences when purchasing a home with the intention of remodeling.
Buying an older home brings challenges that a new home doesn’t, like cosmetic problems and hidden issues just waiting to be uncovered. Inefficient windows and old roofs, mold, water damage, cracked foundation and faulty electrical are just several common concerns with older homes. Short of knowing you’ll need replacement windows or a new roof, most of these are surprises that aren’t part of your original budget. Building in a cash cushion of 10% to 25% is smart to lighten the financial blow of the unexpected.
If you’re on the market for a new home chances are you’ve decided between custom building, buying new or buying old to remodel—either immediately, or down the road. At Highland Builders, we talk to just as many folks who want to build their dream home from scratch as those who have the same creative vision, but want to use the land and bones of an existing home.
Pros to remodeling an older home
Location—Most of the areas situated close to town or near popular conveniences have been developed for quite some time. Inventory in highly desirable, established locations tends to be lower and more sought after. It’s true what they say: you can design any house, but you can’t design the idyllic neighborhood.
Maturity—With older neighborhoods comes well established, mature trees. Lush, towering foliage creates natural privacy which isn’t often found in a newer community with smaller, less shaded lots.
According to the Council of Tree and Landscape Appraisers, a sound, mature, well-positioned tree can add up to $10,000 to your home’s value.
Character—Whether it pertains to age or design, older homes contain unique character that newer homes can’t deliver. Some of the best home remodeling work involves conserving those historic qualities and quirky features. Craftsmanship in staircases, built-ins and molding, original wood burning fireplaces, intricate doors and stained glass windows are all features you can choose to preserve.
Preliminary advice is key to a smart remodel
Having guidance from an experienced home builder is invaluable if you’re buying to remodel. Many buyers make the mistake of involving real estate agents, architects and other contractors when deciding if a home is a good fit to remodel. This is a mistake that could initiate a long, expensive process. Not consulting with a home builder may mean the difference in buying a home with a clear vision of what you’re getting into, and buying a home that you don’t know is a money pit, or worse yet a home that can’t meet your expectations no matter what your budget.
Related: Choosing a lot for your custom home
A home designer and builder should be the first person you reach out to. Why? For any remodeling project, it’s critical to have the land professionally evaluated. A design builder is the best person to assess the land. Regardless of wanting an addition, second story or major teardown, the land evaluation is a pivotal step. You have the right to know if your vision can fit on the lot—before you buy the home.
The difference in custom building and remodeling process
To a buyer, building a custom home and buying an older home to remodel seem like two totally different processes. To us, they’re quite similar. Even though the steps involved are different, the perspective is the same. At Highland Builders, no matter which path you’re on, we kick off our relationship with personal conversations and questions about your needs, expectations and lifestyle. These wishes and desires are the same for custom building as they are with remodeling, and ultimately lay the framework for your new home.
Interested to learn how custom building and home remodeling can deliver you the dream home you’ve always wanted? Contact Highland Builders today at 804-449-6006 to start a conversation about the possibilities.
