Monday, June 30, 2008

Think before You Renovate an Old House


I am sitting here in my office on the second floor of our 1912 heritage home. The fan is going but there's little relief because the weather is more than 30 degrees centigrade and many old houses just don't have air conditioning. Houses built in the "Great White North" were built for cold temperatures so every time we get one of these heat spells there's some discomfort.


I met with a new client this week. She and her husband wanted advice on restoring and decorating their recently purchased 1914 historically designated house. They picked this house because it was the only one that they viewed that retained some of the original interior. It's a wonderful English Arts and Crafts inspired home with large rooms and wonderful 12 pane casement windows.


I shared my own experience with her. I mentioned that it took my husband and I a whole year to find our home - for the same reason. Many homeowners renovate their homes with the misguided idea that if they modernize it will always be saleable when the time comes to move. If you own a heritage home it may be a huge mistake.


Think about it. Buyers who prefer new homes may like the way the house looks but be unwilling to deal with foundation problems, outdated mechanical systems and squeaky floors so they won't buy. On the other hand, buyers who love old houses and are prepared to accept its shortcomings will be very disappointed that you removed the charm and character by renovating so they won't buy.


So the lesson here is to stop and think about who your final buyer might be before you even pick up a hammer.