Whether you’ve recently purchased waterfront property and you’re looking to return it to its former glory or you’ve lived in your home for a while and you haven’t exactly been on the ball when it comes to maintenance, you could find yourself in a situation where restoration is necessary to make your home livable, or merely beautiful. But before you start your demo, there are a few things you’ll want to think about. Here are some basics that will help to ensure you make wise decisions when it comes to restoring your waterfront property.
The place to begin is with a budget and a timeline. There is likely no shortage of upgrades, repairs, and renovations you’d like to do in order to address both practical and cosmetic concerns. But you have to consider that during the restoration process you may not be able to live in your home, which could add expense and limit your timeline. So having a solid budget in place is essential to ensure that you don’t end up spending more than you’ve got on unnecessary projects you can’t really afford. Your budget will help you to prioritize your list so that you can get the most vital restoration projects done first.
If, for example, you’re looking at items like roof repair, siding replacement, and refinishing the hardwoods in your home, but your budget will only cover two of these projects, you can probably guess which one is getting put on the backburner. Of course, you also need to consider the price range of options and the value you stand to gain. For example, you could use the same siding materials as before when restoring the exterior of your home. But if they haven’t held up well against the onslaught of elements in your waterfront locale, you might want to select a product that is more durable. It could cost more up front but end up saving you on maintenance and repair costs down the line.
You should also consider whether or not there are projects you can tackle on your own in order to reduce costs. Just be realistic about what you can (and will) do. While it’s probably fine to take on cosmetic projects like tiling and painting, it’s unlikely that you’re qualified to install a new roof or upgrade the plumbing. In such cases, it’s worth paying a knowledgeable and skilled professional to do it right the first time. This will ensure that the job is completed on a reasonable timetable and that the results will last.
Finally, you must think about the long-term value of your restoration. When you purchase property from a realtor like www.lakehomes.com, you’re making an investment and you need to treat it appropriately if you want to see a return down the line. Some repairs are needed – if your roof is falling apart, you don’t have a lot of choice about whether or not to repair or replace it. This is expensive, but it will stop potential damage (leaks, etc.) that could affect the rest of your home. This will definitely help to maintain the resale value. Anything that is in bad shape now is only bound to get worse if you ignore it, which could lead to further problems and decreasing value. So certain restoration projects can only help to maintain or even increase the value of your waterfront property.