Unveiling Hidden Treasures: Expert Advice for Purchasing Properties
My mother fondly recalls the day she and my father, newly wed, stumbled upon the Greek Revival fixer-upper that would later become my childhood sanctuary. “Our real estate agent warned us that we were the only ones willing to explore beyond the car,” she chuckles. Yet, they were enamored, and the house craved their attention as much as they craved its potential. With time, they transformed the place – mostly with their own hands. They reminisce about navigating through its eccentricities, while I remember discovering secret corners and hidden spaces.
Today, my husband Ethan and I don’t fantasize about idyllic days at the beach. Instead, we yearn to roll up our sleeves and restore an old residence to its former grandeur. Our lazy Sunday drives are often interrupted by abrupt stops at the sight of a dilapidated farmhouse in the distance. He dreams of a rustic cabin at the end of a rugged dirt path, whereas I envision an old saltbox with broad floorboards and a colossal fireplace. Vintage kitchens and bathrooms, complete with mint-green tiles and fixtures, hold a special place in my heart. My weakness? Vintage, peeling wallpaper.
Reflecting back, I realize that while my childhood abode was one-of-a-kind, the enchanting allure it held for me was not unique. My HGTV show, “Who’s Afraid of a Cheap Old House,” and my social media feed, @cheapoldhouses, both honor these undiscovered gems waiting to be cherished. Let’s unite to safeguard these historic homes for future generations, ensuring that our children and their children can experience their magic.
Before taking the leap, consider these eight crucial factors:
1. Establish Your Budget: Anticipate unexpected challenges by budgeting double what you estimate the renovations will cost.
2. Build Your Team: Surround yourself with experts such as inspectors, engineers, and experienced individuals who understand the intricacies of old homes.
3. Address Immediate Needs: Prioritize safety and structural integrity by tackling moisture issues, mold, and ensuring the roof and foundation are secure.
4. Explore Financial Support: Check if the property is listed on the National Register of Historic Places for potential tax credits and investigate local historic designations for restoration assistance.
By following these steps, you can embark on your journey to revive and cherish an old house while preserving its unique charm for generations to come.
When it comes to the potential to modify your abode, it can render you eligible for specific grants. Inquire with your lender regarding the possibility of obtaining a renovation loan such as a 203(k) or a HomeStyle loan.
ROLL UP YOUR SLEEVES
Upon purchasing a fixer-upper, you aren’t merely acquiring a home; you’re embarking on a project. Therefore, it’s crucial to anticipate the process rather than focusing solely on the end result. There will always be tasks at hand, and that is precisely the essence of the endeavor. Fortunately, a plethora of DIY tutorials are readily available online at the click of a button.
PLEDGE TO RESTORE, NOT REPLACE
When it comes to dealing with original elements, the prudent approach is to prioritize restoration over replacement. The windows, cabinetry, and doors were all crafted custom-fit, and off-the-shelf replacements simply won’t suffice. In instances where the original components are beyond repair, scouring through salvage shops proves invaluable. Alternatively, explore online platforms like historichouseparts.com for lighting and hardware, or hannahstreasures.com for vintage wallpaper.
EMBRACE THE QUIRKS
Prepare yourself for the realization that not a single right angle exists within your entire residence. Previous owners undoubtedly made alterations that might leave you perplexed, yet piecing together the narrative can be both bewildering and captivating. Rather than immediately setting out to correct every idiosyncrasy of the house, it’s advisable to reside within it for a period. Delve into the property’s history by researching its architectural style and seeking guidance from the local historic society on uncovering any relevant documentation.
FALL HEAD OVER HEELS IN LOVE
Nothing fuels progress quite like a deep-seated affection for your dwelling. Keep a pair of rose-tinted glasses within reach, and don’t hesitate to wax poetic when recounting the way the vintage chandelier glistens above your cherished original mantelpiece.
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