Five Key Considerations When Purchasing a Period Property
Period properties can make stunning family homes and offer more unusual features than contemporary properties, including higher ceilings, intricate decor and a wealth of character. There's also the potential value that you can add to the building by undertaking renovations or extending it.
However, this can all amount to a costly investment that takes a great deal of time and effort to get right. If you're thinking about buying a period property, here are five essential areas that you should consider to ensure that you make the right decision.
How Much Value Can You Add?
If you have the finances and capabilities to invest in a property that will require a substantial amount of work, these are the projects that can add the most value. This may take some time, but adding in features such as a glass balcony or renovating the existing period features can give you more equity and satisfaction when the work is finished.
Remember the Insulation Cost
One of the problems with period homes can be the extra cost of heating them, so it's important to factor in improving the insulation - either with external insulation or dry lining. The choice you opt for will depend on how effective you require the insulation to be and the impact it will have on the external characteristics of the property.
Think About the Light
Whatever age the property you're considering is, you should think about how much natural light will be coming into the rooms. If your living space is south- or west-facing, these are best for getting more of the sunshine. However, even if your property is not ideally situated, you can still improve on the light by adding an extension in the right position or installing windows or a glass balcony on the side of the property.
How Big a Garden Do You Really Require?
If you're thinking of adding an extension to the property, you need to ensure that this won't make the garden too small for you. It's essential to plan for the longer term, so if you're considering starting a family you'll want to have enough space outside for the children to play in. However, if you're an older couple, a small garden might be adequate enough for your requirements.
Make the Most of the Period Features
The decorative features in a period home are often why they are so attractive, so you need to retain these wherever possible when you're carrying out the renovations. For example, areas such as cornicing, terrazzo floors, fireplaces, sash windows or original staircases should be recreated if they need replacing. Keep to the original style as much as possible, as this will add the most value.
Have a Budget
It's imperative with any renovation project that you have a realistic budget to work to. This will ensure that you don't go over the top and end up spending more on the building work than the property is actually worth.