How many times have you asked yourself if buying a home to reform was a good idea? Sure, the photographs of renovated properties seem much more attractive at first glance, but there is still another option to get what we want and spend less.
It’s hard to imagine a «home sweet home» visiting a house with rustic floor tiles, gotelé walls, wall tiles from more than 15 years ago, lack of light and old furniture. However, it can become your ideal choice.
Choose your home to renovate properly
To know if it is a property with potential or the house of horrors we must take into account several points:
- Location of the house (distance from the sea, services, community owners, etc.)
- Surface (m2, number of rooms , number of bathrooms, etc.)
- Accessories of the house (garage, swimming pool, storage room, etc.)
- Natural light (windows, view and orientation)
We could expand the number of rooms, but the rest of the mentioned variables would be more difficult if not impossible to correct. Make the decision based on these variables, the cost of the reform and the purpose (habitual residence or investment).
Compare different options of houses to reform with other refurbished ones with similar characteristics, and only choose the house to reform if between the final price (purchase + reform) and the price of the reformed house there is a price difference in your favor. Sometimes, it is convenient to acquire a home to move into.
If you have doubts with your decision, go to a professional dissinteresed in the transaction: Investment Analyst, Financial adviser or Real Estate Lawyer. They will be able to advise and accompany you during the purchase process.