Author // Chelsea Keim, Place Coorparoo
Renovating has been something people have done for many years. These days it’s especially popular with older style homes, like Queenslanders.
People are lifting, widening and modernising homes left right and centre. But how do you know when a home is perfect for renovation?
Agent, Will Torres has given us his top five points to consider when you are purchasing a home to renovate.
Location, location, location!
Picking the right location is key. Choose a location that suits your lifestyle. This may be close to work, highly regarded schools or restaurant hubs.
Local Cafes
Distance to public services
Choosing this location close to schools, hospitals, public transport will increase the value of your home in the future.
This will also be not only convenient for you but convenient for buyers if you decide to sell.
Public Transport
Quality construction
Ideally choose a home that is made from timber as it will be less costly to modify and renovate.
Queenslanders are a great style home to renovate. They have great back bones and can be easily expanded or lifted.
27 Henry Street, Woolloongabba
Conduct a feasibility study on the home
Decide whether or not you will get return on your money.
More often than not, with a renovation this will happen naturally as you would have most likely increased the value and size of the home.
But it’s important to take into consideration whether or not the location will increase or decrease in value in years to come.
Local Streets
Searches
It’s important to check local council maps to see if the home is in a flood zone.
Flood zones will always decrease the value of a home and, when renovating, this isn’t ideal.
Check for any easements over the property that may affect its value or your use of it, e.g. surrage easement or an access easement.