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Contemplating to buy an old house is common for people who love vintage properties and have a knack for anything with history. Old houses are full of character, and they tell a story. People usually buy old houses because of their charm, architecture, structural integrity, and engineering systems.
However, the risk associated with buying an old home cannot be ignored. So, if you are thinking of investing in an old house in Adelaide that has stood the test of time, here are five things to consider before buying and moving.
The Value & Cost
Most old houses are costlier than newly built homes due to a variety of factors such as
• Historic value
Besides these factors, the need for massive renovations can make the total cost of the house higher. So, ensure you know about the financial toll of buying old houses in Adelaide. Make sure you research the property adequately. Learn about the house’s previous owners/occupiers, property improvements, value and other useful information through the council rates assessment books. Take professional help by consulting a trusted real estate expert to provide insights into current property market trends. Furthermore, estimate the cost of hiring reputed removalists in Adelaide.
If you find a few old houses available at lower rates than others in the market, look for the catch. In most cases, the sellers compensate for the price of the house due to underlying issues. Some of the reasons for unexpectedly lower rates are:
• The need for renovation is high, and the current owners don’t wish to get the changes done
• The features of the house are outdated or obsolete.
• The structural integrity is low or compromised
Make sure you do proper inspection during your visit when you are considering buying such a house to understand the cause for its low rates. If you see scope for improvement, think it’s a good deal, and have the financial means to salvage the house, then you could buy the house at cheaper rates.
Scope for Renovations & Refurbishment
Old maybe gold, but when it comes to old houses, they require heavy renovations and upgrades. However, the scope for renovation may be limited for specific old houses. You have to consult the Department of planning, transport, & infrastructure and the seller about the zoning of the house and whether it is among heritage listed properties. Knowing about renovation limitations is necessary because it can influence your will to purchase.
Coming to the scope for refurbishment, it is usually not a problem. You can return an old house to good shape by hiring reputed cleaners who undertake end of lease cleaning in Adelaide. Besides calling the cleaners, you can hire contract painters, masons, carpenters and other professionals on contract.
Eligibility for First Home Owner Grant
If you are buying a house for the first time, you need to check if you are eligible for First Home Owner Grant. Read the terms and conditions carefully and see if the old house you are considering to buy can come under the policy. The chances are slim because the policies of the grant only apply to newly built homes, which are never occupied.
Is It Worth?
Asking this question is essential when you are considering purchasing an old house. You have to weigh the pros and cons carefully. Also, consider if the purchase is a good future investment. Old homes make a statement, and they are better than a lot of new homes. However, you have to make an informed decision according to your budget, space, and amenities requirements.
Best Suburbs in Adelaide
Besides considering the five things, you have to know the best suburbs to buy an old house. Here is a list of popular suburbs known for their beautiful collection of vintage homes.
• Henley Beach
• North Adelaide
All these suburbs are well connected, and you can readily find a good removal company to help you move to any of them smoothly.
Tips For Buying And Moving
If you are positive about living in an old house, here are some tips that can help you buy your dream home and move in smoothly.
• Prepare a budget that includes the money you have for purchasing the house, the consultation cost of the real estate agent, the amount you are willing to spend on renovations & formalities, and the cost of hiring professionals removalists in Adelaide.
• Discuss with your family and let them know your plans for the future.
• Buy and move in a house that is well located and near to schools, colleges, shopping centres, parks, and other amenities.
• Make sure to get the property thoroughly inspected for structural integrity, pests, repairs/ renovation/ refurbishment requirements, and other issues.
• Once the purchase is complete, apply for the needed renovation or upgrade permits.
• After acquiring the permits, hire contract professionals and get an estimated time for completion of renovations and refurbishments.
• In the meanwhile, start preparing for the move in advance. Make a checklist of all the tasks to complete.
• Take the assistance of family members and friends to help you move.
• Don’t try to DIY pack and move. Take professional help. Hire reputed removalists in Adelaide to make the move smooth and less stressful.
• Once you have the keys to the house and all purchase formalities are done, change the locks immediately for added security.
• Also, start the process of changing the address and inform concerned authorities about the change.
• If you are moving from a rented house or apartment, get the end of lease cleaning done and secure your bond.
• Conduct a farewell dinner, lunch or party for your neighbours and near & dear ones to say goodbye on a happy note.
• Once you have settled in your newly purchased house, have a house warming party or get-together. Invite friends, new neighbours, acquaintances and anyone who you wish to stay connected.
When buying an old house in Adelaide, make sure you have the list of things you need to consider. Ensure you research about the properties adequately and consult a trusted real estate agent to guide you. Don’t hesitate to take professional help whenever required. Once you have the keys and papers of your house, start planning, complete all the moving-related tasks, and don’ forget to book professional end of lease cleaners and reputed removalists in Adelaide 1-2 months prior to the move.