Home renovation work should be anticipated before purchase. Adapting the house to your tastes and needs, bringing it up to standard, improving comfort, arranging, decorating, etc., whatever the need or desire, you must ensure that the planned work is feasible before you can back out. Maisons Sic, also a specialist in home renovation, gives you ten tips for planning the purchase of a house to renovate.
Assess the general condition of the property to be purchased
Home renovation work: checking the key points
Do you like the house? Do you like its location? Do you want to make an offer to purchase? Stay vigilant and check the most important items.
First, check thehouse envelope. The roof: is it in good condition? Are there any tiles missing or damaged? How long has it been since it was changed? Does the facade have any cracks or signs of deterioration? As for the joinery, do the doors and windows fulfill their role properly? Do they close properly? Are they double or single glazing ?
Then, also ask questions about the condition of the plumbing: are there any leaks or pipe problems? Is the electrical installation up to standard?
Finally what type of heating is installed. Is it efficient? Is the house well insulated?
Understanding real estate diagnostics: a wealth of information
To help you better assess the property, the seller is required to provide a certain number of real estate diagnostics : Energy performance diagnostic (DPE), asbestos diagnosis, lead diagnosis, termite diagnosis, electrical diagnosis… They are a mine of information on the condition of the property. Take the time to read them carefully because they will help you identify the essential work and those to anticipate.
Build or renovate? Both have their advantages, read the article « The advantages of each choice ", to decide between the two options.
Home renovation work: define your needs and desires
Once you have an idea of the general condition of the house, define the type of work you want to do, as well as the overall budget you want to devote to the renovation as well as the purchase. It is important to define your needs and priorities in terms of work. What are the essential works ? What are the jobs you would like to do in the short term? What jobs can wait?
Evaluate the cost of the planned work
If, when visiting a property, you are considering transformations, whether structural (expansion work, extension, destruction of partitions), decorative or comfort, it is often essential to evaluate the real cost in order to be able to make an offer adapted to your needs. budget the renovations are often long and costly. It would be a shame to embark on such a project without having sufficiently studied its feasibility. The renovated house budget should not be higher than the market price. Do not hesitate to ask for several quotes from different craftsmen or companies to compare prices. Do not forget to take into account additional costs, such as travel expenses, administration fees, etc.
Financing renovation work before purchase: the solutions
You have several options for finance the renovation work before the purchase. The simplest is obviously the personal contribution but it is often more advantageous, in order to conserve cash, to resort to a loan.
The home loan : you can include the cost of the work in your mortgage.
The work loan : is a specific loan to finance renovation work.
Also inquire with the National Housing Agency (ANAH), particularly on the financial help which may be granted to you for finance your renovation.
Better understand the financing of a real estate project by reading the article “ Borrowing to renovate or expand: how does it work? »
Can we have a loan that includes real estate purchase and home renovation work?
It is quite possible to obtain a mortgage loan which includes both the purchase of the house and the renovation work. This solution allows you to have only one loan to manage and to benefit from a single interest rate.
Ideal for financing the building an extension or the heating system or a new kitchen or bathroom.
The advantages are to benefit from a more advantageous interest rate than that of a Consumer credit, generally longer repayment periods and a single dish for ease.
The funds from this loan will be allocated as the work is completed.
Planning work before purchase: rigorous organization
Once you have chosen the professionals and obtained the necessary financing, it is important to plan the work. Establish a precise schedule, taking into account the deadlines for each step. Don't forget to allow for a safety margin for unforeseen events.
Know the town planning constraints and request authorizations
Before carrying out renovation work, it is essential to find out about the town planning constraints that apply to your property. Certain modifications may be subject to specific authorisations, such as the permission, prior declaration of work, etc. It is therefore important to get closer to the urban planning department from your town hall to find out the rules applicable to your project and obtain the necessary authorizations.
Home renovation work: what clauses should be added to the sales contract to protect yourself?
To protect yourself in the event of problems related to home renovation work, you can add certain suspensive clauses to the sales contract, such as:
Suspensive clause for obtaining a quote: this clause allows you to withdraw if the cost of the work is higher than an amount that you have defined.
Suspension clause for carrying out additional diagnostics: this clause allows you to withdraw if the diagnostics reveal significant problems that were not detected during the initial visits.
Suspensive clause for obtaining building permits or work permits: this clause allows you to withdraw if you do not obtain the necessary permits to carry out the work you are planning.
Am I allowed to visit a house with professionals?
Before the promise of sale, you have every right to be accompanied by renovation professionals who will provide you with quotes and guide you in the analysis of the property under consideration.
After signing the sales agreement, you have the right to visit the property as many times as you wish, in order to carry out additional assessments. You can also bring in building professionals to carry out more in-depth diagnostics or to obtain quotes for the work you are planning.
Which professionals can help me analyze a property to buy?
It all depends on the issues encountered. An architect, a specialist renovation builder as Maisons Sic or an general construction company, who are used to complex work and coordinating different trades will undoubtedly have an eye for finding the weaknesses of the house. Beyond that, they will also be able to give you an estimate of the work envisaged. Choose a professional who is well established in the South West who is familiar with the fabric of local businesses. For more specific work, you can also call on a craftsman specialized in the particular field that interests you, such as plumbing, electricity, masonry, etc. However, working on old buildings generally requires a variety of skills.
