Buying a fixer-upper is also a fantastic way to teach children and young adults, important life-skills.

If they’re old enough you can get them involved with project management and calculations; if not, they can help with some of the finishing touches to the house, or even better – the garden.

With a little imagination, you can even involve them in the buying process.

On a more selfish note – we all dream of one day owning our perfect home – whether a secluded country retreat, a home on the waterfront, or an amazing apartment in the middle of town.

And in some cases, part of the dream involves buying a property that’s past it’s best and reviving it to its former glory.

 

If you’re considering such a project, make sure you do your homework and give it a lot of careful thought – things aren’t always what they seem with older homes and underlying safety and construction issues can cost time and money you may not have.

 

Here are the main things you need to consider when buying a home for renovation…

What is your budget?

This is the most important consideration as it will dictate the size and type of project you can take on. Once you’ve set your budget it’s important you stick to it, it’s easy to let costs run away with your imagination, but if you do there’s every chance you’ll not finish your project to time, if at all.

Getting the kids involved – show them how to workout a budget, what type of house you can afford, and how practical the house will be in terms of family rooms, size of rooms, locations for schools and work etc.

Is it a listed building?

If you’re buying a listed building you need to be aware that, by law, there is a very strict limit on the things you can do to it during renovation. Having to adhere to these rules could mean you need to spend more on period materials or that you can’t renovate it to the specification or style you have in mind.

Getting the kids involved – Get them to search on historicengland.org.uk and explain what a listed building is, and why it is an important factor when buying a house.

When was the building built?

This is a very important consideration as it can dictate the type of work that needs doing to the house and whether you might have to deal with any hazardous materials – houses built between 1945 and 1959, for example, often used asbestos in the roofing and guttering, which will need to be removed by specialists.

Getting the kids involved – Show them the house deeds, and see if they can work it out

 

What was the building built for?

Although you may dream of living in an old, converted barn, updating this type of dwelling will usually cost a lot more than converting an old house due – so make sure you pick a place that’s suitable for your lifestyle and gives you maximum bang for your buck.

What are the foundations like?

Foundation repairs are very expensive, so make sure you thoroughly investigate the integrity of the foundations, looking for any visible cracks in floors or signs of listing or subsidence. If you see anything you’re unhappy with either walk away or make sure the cost of repair is reflected in the buying price.

Getting the kids involved – Explain how a house is built – groundworkers, bricklayers, joiners and steelworkers.  Explain why foundations are so important.

What are the windows and roof like?

At the other end of the building, roofing and window repairs are another job that can add heavily to your renovation costs, so check for signs of deterioration, particularly in wooden beams and frames, and look out for loose and missing tiles or anything that suggests damp or leakage.

 

What are the electrics and plumbing like?

Older homes aren’t wired up to modern day safety standards and the outdated wiring and electrical panels in some can be a real fire hazard. So check out the price of upgrading the electrics before you commit to buying the property.

 

And then there’s the plumbing to consider – cast iron and galvanized piping has a life of around 50 years before it starts to leak and water quality is affected. It can be difficult to connect new plumbing to older fittings, so you may have to leave plumbing fixtures where they are unless you can afford to replace the whole system.

 

What are the fixtures and fittings like?

Although you may want to renovate the whole place, there are some jobs that can add thousands on to your budget – while getting loose covers from somewhere like Plumbs, to reupholster period furniture can be done on a budget, re-modelling an entire kitchen or bathroom can’t.

 

Taking a look at the existing tiles and bathroom or kitchen suite to see if they can be tidied up before they’re ripped out could save you a lot!

 

In regards to the actual, practical and physical ‘fixer-upping’, check out this website for some great child-friendly projects 

I’m currently attempting to build some DIY gym equipment – the reverse hyper machine is a bit of a challange!