Sage Real Estate Talk March 14, 2024

Renovating an Old House? Here’s How to Update It Without Wasting Money

Are you considering home renovations but worried about overspending? Renovating an old house can be a daunting task, but with the right approach, it’s possible to update your home without breaking the bank. Here are some tips to help you navigate the process efficiently and cost-effectively.


Have a Plan

Before diving into any specific project, it’s crucial to have a comprehensive plan in place. Consider the entire house and your budget to prioritize essential areas like kitchens and bathrooms for early renovations. A master plan not only helps organize work logically but also sets you up for future projects, ensuring consistency and avoiding unnecessary expenses down the line.


Add Value to a Historic Home

If you’re renovating a historic home, it’s essential to strike a balance between modernization and preserving its original charm. Think about functionality and resale value while preserving unique features that add character to the home. Consider opening up spaces like the kitchen for modernization while maintaining the home’s historic integrity. Creating a roadmap for projects, starting with crucial areas like kitchens, bathrooms, and family rooms, will ensure a cohesive renovation that adds value to your home.


Decide What to Keep and Ditch

Preserving historic features should be done methodically before demolition, but not all vintage aspects need to be preserved. Hazardous materials like lead-based paint should be removed, and structural necessities like windows, heating, electrical, and water management should be prioritized to ensure the safety and functionality of the home.


Save Money When Renovating

Grouping big projects together can help minimize costs and ensure consistency throughout the renovation process. DIY where feasible, such as installing light fixtures or learning basic plastering, can also save you money on labor costs. Recognize when to stop renovating to avoid overinvesting in unnecessary features that won’t add value to your home in the long run. Consider resale value when adding personal touches like yoga rooms or dens to ensure your renovations appeal to potential buyers.


Other Ways to Add Value

Beyond major renovations, there are plenty of other ways to add value to your home. Upgrading landscaping, smart kitchen and primary bathroom renovations, adding functional spaces like mudrooms and powder rooms, modernizing laundry facilities, repainting with value-boosting colors, optimizing usable space with small renovations, and updating closet storage systems for added convenience are all worthwhile investments that can increase your home’s value and appeal.


In conclusion, renovating an old house can be a rewarding experience that adds value to your home and enhances your homeownership journey. By having a solid plan in place, preserving historic features while modernizing key areas, making strategic decisions about what to keep and what to discard, saving money where possible, and exploring other ways to add value, you can update your home without wasting money.