Not all homes are created equal. Some have seen better days and are almost to the point of being unlivable, let alone appealing, to potential buyers. However, even in such a decrepit state, a home could still sell for more than its current market value when the right improvements are considered. Whether you’re a homeowner looking to sell a dilapidated property for the best price or an investor shopping around for fix-and-flip opportunities, you can’t overlook the profitable potential of a home you think is beyond saving.
So long as you put as much time, money, and effort into it, you can give new life to a property that has suffered greatly from the elements and the passage of time. It‘s only a matter of knowing how to make the most of the resources you are putting into a major renovation project. The guide below should give you the fine points to keep in mind as you give your home new life.
1. Do a thorough inspection
Whether you’re selling your home or sprucing up an apartment complex so it becomes appealing to renters, it matters to check the total condition of the property so you will have a better idea of what to fix and how much is needed for the entire project. For this, look beyond what’s on the surface and dig deeper into underlying issues that could worsen its structural integrity.
Water damage might be minor, but more severe cases could lead to molding and other problems that would require significant restoration clean up, especially if certain undisclosed areas around your home contain contaminated stillwater. A thorough inspection can help you uncover these areas if you’re planning a full restoration.
2. Upgrade essential features but retain the original design
Especially if you’re planning on sprucing up a historically significant yet severely neglected home, you will want to bring it back to its former glory. Much of it should involve replacing worn-down sections of your home’s exterior and interior features. Details that may have undergone erosion could be restored with the help of contractors specializing in historically significant buildings.
However, parts of the home which have suffered severely from wear and tear should be replaced and reinforced if these affect the property’s structural integrity. Do it right and you will be able to freshen up a home from the Victorian era while adding to its durability.
3. Never ignore outdoor spaces
When it comes to giving new life to a property that has seen better days, don’t just focus on the structure and the interior spaces. You should also consider improving the surrounding space, starting with trimming the lawn grass to a proper height, removing weeds, and cutting down overgrown branches.
You might also want to clean the walkway and driveway using a pressure washer and make sure your patio looks as pristine as it once was. It could set you back thousands of dollars, but it’s an investment that could give the property a more updated look.
4. Refurbish the interior
As you move on to interior spaces, it matters to give areas like the living room, dining room, and bedroom a more upgraded look. The best you can do is change the wall colors, which could help make the interior appear larger. If you have room in your budget, consider replacing your flooring with a more durable material that could last for years on end.
You could also opt for modern decorations and features such as art pieces and a programmable thermostat. This could set you back thousands of dollars, but refurbishing your home through these improvements will make it seem like your home was built a week ago!
Endnote
There’s always hope for a home that has withstood the test of time but is reeling from its effects. Using these tips as your starting point, you can turn any rundown living space into one that will last another 30 years or more.
