Purchasing a house to renovate is an excellent solution for those who want to make a concrete investment, especially for those thinking about renovating a second home. After renovation, in fact,
1. Set a precise and detailed budget
Financial planning is an essential element for those who decide to buy a house to renovate. It is essential to define a realistic and detailed budget, evaluating all the expenses involved. Carefully consider the renovation bonuses currently available and assess which tax incentives would suit your case. In addition to the costs of purchase and renovation, calculate the costs of all the necessary fiscal obligations, and not only. You should also consider a sum of money to cover any unforeseen expenses. Set aside about 15% of the total expenses to cover this type of interventions. In any case, rely on professionals who clearly outline all the expenses to be incurred from the start, in a detailed manner, avoiding unpleasant surprises at the conclusion of the work.
2. Analyze local real estate market trends
Before proceeding with the purchase of a house, a careful analysis of the local real estate market must be carried out. Consider market trends before committing to this type of investment. Consider purchasing a property in urban areas that are experiencing an important period of redevelopment. It can prove to be an excellent long-term investment. Before focusing on a single structure, evaluate which neighborhood you would like to live in, considering the availability of essential services and the efficiency of urban connections.
3. Assess the condition of the property and the renovation works to be carried out
Once you’ve found the ideal neighborhood, it’s easy to be enchanted by a particular house. However, you need to curb your enthusiasm before proceeding with the purchase of the property. It is essential to carefully assess the condition of the structure. If the building is old and particularly damaged, renovation costs could rise, especially if there is serious structural damage. Being accompanied by a specialized technician is fundamental when purchasing a property to renovate. For this reason, we at Domidea have thought of the “At First Sight” service. Visit a property together with a trusted architect and immediately obtain a realistic and detailed estimate of the works to be carried out and their related costs. The Domidea architect will also help you understand if the structure really meets your needs and manage all the documentation related to the house you’re buying, also verifying compatibility with a mortgage request. Moreover, this way you can also consider any restrictions related to the local urban plan. This is extremely important, especially if you decide to renovate a house in the historic center.
4. Set certain and reliable renovation timelines
When deciding to renovate a house, it is necessary to set a well-defined plan of the work to be done. You need to have a clear idea of the construction site timelines, distinguishing which works deserve priority and which interventions should be carried out later, to better define the final details. Even in this case, it is essential to consult experienced technicians capable of carefully evaluating the timelines of a renovation project.
5. House to Renovate, rely on qualified and recognized professionals
Always turn to qualified professionals. Rely on experienced construction companies, consult experts who answer your questions, always clearly illustrating the outcome of the interventions to be carried out through renderings, 3D projects, and drawings. Always request accurate estimates, complete with every detail. Only in this way will you be able to make choices with maximum awareness, in line with your needs and desires.
Contact us now and a Domidea architect will be with you immediately for a free, no-obligation inspection and estimate in the cities of Rome, Milan, Turin, and Florence.
