Many people prefer to make a list of pros and cons to help them make a decision. It helps you analyze both the good and the bad of any decision you plan to take. If you’re wondering whether to renovate your old home or maybe even invest in an old home, here are some of the pros and cons of renovating an old house:
Pros
- Old houses are cheaper to buy. You will likely be paying less than what you would be for a new home if you look for a fixer-upper. If you decide to renovate it yourself then you can save tons of money in the long run.
- Old houses have a lot of character. They are more likely to have old woodwork and intricate details.
- The building blocks of old houses have been built to last for years. This strong foundation helps in supporting the structure of the house and keeping it intact for much longer than many of the newer houses. While you might have to replace the plumbing and electricals as per your convenience, the structure of the house will always be pretty solid.
Cons
- Renovating an old house can be pretty heavy on the pocket, especially if you hire professionals to do the job for you. Replacing the roof and the foundation, electrical and plumbing, and updating the HVAC system are found to be some of the most expensive aspects of renovating an old house. Make sure to do a thorough inspection before buying so you know what you may be in for in the future, moneywise.
- A lot of toxins can be harbored in old homes. Materials such as asbestos and lead were very commonly used in old houses and they are considered to be hazardous to humans, if not dealt with properly. Removing them, with the help of professionals, can take a hit on the cost of your renovation.
Renovations can be a time-consuming process. Since old homes are not in perfect condition for you to directly move in, many other unexpected surprises can often be also found during renovations. Your plans, budget and scheduled timeline of moving in, are all likely to change due to these.
