Showing posts with label Restoring an Old Home. Show all posts
Showing posts with label Restoring an Old Home. Show all posts

Wednesday, September 1, 2021

4 Aspects of Restoring an Old Home to Budget For

Many people wish to someday have their own dream home. Either by building it new from the ground up, or finding one on the market that they simply have to add a few touches to here and there. 

However, in many cases, obtaining that home may be more work than you expected. This will certainly be the case if you are restoring an older home. As the years go by, everything eventually needs an overhaul or touch-up. 

This is no different when it comes to homes, as they tend to need a lot of maintenance as they get older. Whether that be because of just time itself, some sort of area, or environmental disaster, or we learn more about the materials we used to build it. Something will most likely need to be done for your home. 

Doing so will require creating a tight budget that you have to keep a strict eye on. If you don’t, you may end up spending more than the project is actually worth to you. 

Below are four aspects of restoring an old home you must budget for.

Foundational Issues

One of the biggest problems with older homes can be foundation issues. As a house gets older, it begins to “settle”. Sometimes, this means that the soil beneath the house will shift or move away, meaning your house’s foundation has nothing underneath to support it. 

This can lead to cracks forming along the walls of your home, both inside and outside, or the ground pulling away from the entire structure. A sign of foundational issues will be doors that either stick or don’t fit properly in their doorways, or the floor sagging or bowing. 

Gaps may appear in your windows, or along with your cabinets as they pull away from the wall. Soil shifting isn’t the only cause of foundation issues, however. The roots of nearby trees may have eventually grown so big they have begun destabilizing the foundation. 

Flooding from over the years may have even deteriorated the foundation. It generally depends on your area’s environment and soil content to determine if your house is at risk for foundation issues. 

No matter how it happened however if an older home has foundation issues, you must have those addressed first before you pay for anything else if you want to save the home.

Hazardous Material Removal

Homes built many years ago were often constructed under different safety standards and with different building materials than those that exist today. 

Things like asbestos insulation and lead paint or pipes were common in the past before it was discovered they can cause life-threatening diseases. If you suspect such hazards may exist in the home you are remodeling, have some budget set aside to remove those dangers. 

It can get expensive to remove things like lead-based paints and asbestos-riddled ceilings safely. When you choose a removal service, make sure you are picking out a reputable company that follows all the latest safety regulations.


Another thing you will likely need to budget for is new roofing. Many kinds of roofing are not designed to last forever. Asphalt shingles, for example, are probably not going to last longer than 20 years. 

Over the years, it’s very likely the roofing of an older home has been damaged in some way. Plan to have the roof of the home inspected, and budget accordingly. If there is any question about its condition, hire a roofing contractor, like PM Roberts LLC, and have new roofing installed in the style of the original roofing. 

While you may want to stick with an original roof, the damage that can be done to the home if it fails is not worth the trouble. It would be better to replace the roof and feel safe knowing that you have a secure one over your head.

Electrical System

The electrical systems in older homes can also prove a challenge. They may, for example, not be able to support the wattage of your modern appliances. 

When this happens you could experience constant power outages as the house’s breakers flip. Otherwise, pests could have gotten in over the years and damaged any wiring they came across. In certain cases, old-fashioned electrical systems could pose a serious hazard. 

No matter what the issue, it would be best to expect you’ll need to do something about your house’s electrical system. Electrocution and fire could both be a risk. Restoring a period home may require replacing the electrical system entirely.

Overall, there are pretty much no examples of older homes that can be restored on the cheap. Instead, you must budget carefully to ensure that you have enough money to actually finish the project. 

If you don’t budget properly, the project can easily spiral out of control and end up ballooning in price. You could end up losing money on the house, and end up making your project cost more than it was ever worth. 

Preparation and dedicated accounting are important to make sure your restoration project is worth every penny.

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