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Renovator’s dream
Restoring a period home can be a joy as well as a challenge, and if done well it will add value. Andrew Gregory and Angela Erini report
You may have to look overseas to pick one up but period homes present buyers with an opportunity to add heritage and aesthetic value to their next property investment by restoring an old abode to its former glory. Period homes also present the opportunity to create an impressive home by merging classic touches with the comforts of modern living.
Whether you’re after a property in town or in the country, and whether your taste runs to Georgian, Tudor or older, you’ll find no difficulty in renting out a well-renovated period home. Note too that many such inner-city properties are now the offices of lawyers, doctors and accountants. While that’s probably more to do with location than heritage, it does show the potential of properties with a rich architectural legacy.
Long-term property investors are starting to take a look at homes that may not be a period home now, but will be in decades to come. Next year, anything built before 1960 will be 50 years old. Who is to say that homes built in the 1960s or 1970s can’t be classified as period homes?
Before you jump in, check the zoning and also take a wider perspective by considering the location, the amenities and the demographic shifts in the area. In other words, don’t fixate on period features and ignore everything else.
In the purest sense, restoring a period home is a lot different to renovating a house or apartment. It’s an endeavour and a challenge. Something to consider if you’re convinced you’ll enjoy the process as much as the end result.
If you are finding it difficult to choose between a couple of properties, look for period fittings and interesting aspects of interior design that are rare or difficult to replicate. High ceilings are always a draw, as are large rooms, impressive staircases and the original woodwork.
Colour schemes are an important aspect of a period home, and renovators should choose their tones carefully when repainting, especially for the front. In addition, always take note of regional differences in colour schemes for the same architectural style.
A scheme for a vividly painted Victorian house in the South of France may appear out of place in the more conservative streetscape of Central London.
Those who want to restore a home with its original colours have a number of options. The first is to hire a professional who can uncover the original paintwork and analyse old paint chips. Or you can refer to historical colour charts and create a scheme that is in keeping with the period and your neighbourhood. Many manufacturers now produce lines of period paint, or you can choose to have a hue specially mixed.
Chances are that you’ll want to add an extension to your new period home, to maximise the living space and bring it up to date with a contemporary lifestyle. Properties that are heritage-listed by governments have restrictions on alterations and additions, so check on these before signing anything. Note too that council approval can take an extended period of time if your house is heritage listed. Keep in mind that the council approval process can involve delays, particularly if neighbours have issues with your plans.
The key to a great-looking extension is successful integration with the original design of your house. Make sure that the spanking-new extension doesn’t look like a block tacked on to the existing building. One way to avoid this is to ensure that the materials used to build your extension match those on your existing home as closely as possible. This can be very costly. Make sure too that your rooflines don’t look disjointed. Architecturally, you need to keep to the style of the rest of your home.
You’ll need to bring in a design professional or an architect to draw up your plans. These can then be presented to the local council. It is essential to bring an open mind to the initial discussions with your designer or architect. For example, you may be fixated on extending to the side of your house in order to keep the backyard intact, to the detriment of your extension investment. It may take the impartial advice of an expert to realise the folly of your emotional decisions.
Feel free to ignore the present use of existing rooms; it might be that you want to place the bedrooms downstairs in order to have an upstairs living room. But if you are thinking about relocating the kitchen, and the bathrooms, in particular, note that electrical and plumbing fees can escalate.
An additional storey that enhances your access to pleasant views, particularly water views, can dramatically boost the value of your home. But note that the cost of building an upward extension is generally more expensive that extending out. So if you are budgeting for further additions such as kitchen renovations or a pool and have plenty of room on your property, you may err on the side of the less costly option.
Are you making the most of a wide block? To increase your kerbside appeal you can extend out the front of your house to maximise your streetscape presence and possibly add to the value of your home.
Besides providing more living and storage space, an upper storey extension can help to bring more light into the property. At this point you might want to consider adding in balconies, as well as skylights to harness solar power but make sure such additions don’t destroy the period feel.
Building up obviously means taking the roof off which brings its own set of problems. Many people worry about the inconvenience of living in an unsealed house, particularly in wintry conditions. However, some builders promise all-weather 24-hour emergency work. Extending outwards means that you can keep your original roof but you will have to match it with the current one.
Upper-storey additions mean adding extra weight onto the existing house. You need to be sure that your home can handle this pressure. Some older-style slab homes are not built to withstand an upward extension.
Contracting an engineer to establish the structural possibility of an extension is compulsory. There are ways however for builders to work around structural limitations by carefully distributing weight to different areas of the home. It becomes imperative at this stage that you are dealing with an experienced extension builder and trusted engineer.
Your design professional will also help you ensure that your extension meets local planning regulations. Remember that many local council regulations state the allowed distance a structure can be from your property boundary and what percentage of land is permitted to be covered by a building; therefore extensions require both council approval and a building permit.
Renovating a period home can be costly, and it won’t happen overnight. Importantly, too, you’ll have to deal with more than just the nitty-gritty of restoration and repairs. You will need to have insurance to cover the tradespeople working on your property, and safety will be a priority as part of your home may become a hard hat area due to the different type of work occurring on site.
Ultimately though, all your patience and hard work will pay off. A well-designed home extension is an excellent investment as it can increase your property value almost instantly and in the future bring high capital gains.
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