When it comes to moving into a new or new-to-you home, you have many factors to consider. The state of the residence you’ll buy is not the least of these considerations: will you build a custom home, move to a recent, live-in-ready house, or renovate a fixer-upper? You’ll face all these possibilities and more as you become a homeowner.
Those who are leaning towards renovating an old house will find there are both pros and cons to this option. By weighing the positives and negatives, you can decide once and for all whether a renovation is a path to homeownership that’s right for you.
The Pros of Renovating an Old House
When remodeling an old home, you have a building in place, however much work it may need. Compared to a new build, where you must pay attention to every detail, this gives you the chance to focus on what specifics mean the most to you or are the most urgent. So, if you want to find the best company for window replacement in Grand Rapids but save getting a door with better curb appeal for a later home improvement project, you can get those beautiful replacement windows with modern panes and use the functional but not-so-pretty front door you have for now.
In many cases, you’ll find that a renovation can be a cheaper option than your alternatives, particularly as opposed to an entirely new build. The permits alone may be more affordable than you’d find with a new building! Even your upfront cost will be budget-friendly. When you choose a house that needs a little TLC, you’ll undoubtedly pay less than with a move-in-ready home.
Just as importantly, you’ll be literally living in history when you remodel an old home. Your house has years of experience caring for its inhabitants—you can only imagine the people who‘ve stepped through that front door before you owned the property!
The Cons of Renovating an Old House
When you’re renovating a house, you have a unique middle ground compared to alternative home options. For instance, you’ll have more room for personal touches, like custom door installation, than you would with a home that needed no work before move-in. So, if you’ve been dreaming of a dramatic barn door, you can make that happen during the remodeling process. Conversely, though, you don’t have the same opportunity for customization as you would with a full-fledged build from the ground up.
With a renovation, you’ll also have the risk of costly crises appearing. You might have found an affordable price upfront, but it’s all too possible that expensive emergencies will arise throughout the remodel. You have to make sure your new home is up to code and remedy any structural issues before they get worse.
Last but not least, you’ll most likely have to be ready to wait before move-in day. Even an old house that needs minimal work will take some time to be prepared for you and your family. In more severe cases, you might take a long time to ensure your entire home is safe and ready for moving in. This is especially important if you‘re selling your current home, too. It can be challenging to line up the selling and buying with even a move-in-ready house!
Whether you’re taking a DIY approach to renovation or you’re hiring professionals for each step of the process, you’ll have a lot to think about when deciding if you’ll renovate an old house, build something new, or find a property that’s ready to live in. By considering the pros and cons of each option, you can figure out which one is the best bet for you and your family.