Most are unaware of how much it would cost and how much longer it would take to renovate a historical home. That is why extreme caution and well calculated steps should be taken before you actually decide to renovate a home which is classified as a historical.
Realty Biz News cautions would be owners or investors to check the local building and renovation rules in the area as a primary step before anything else. There are surprisingly tons of rules and requirements that are implemented by the local historical society for houses that have historical value. If one already has a renovation plan for the house and already paid for it without coordinating with the historical society, it would most likely end up in the trash bin. Which means you'll have to start from scratch with a new budget for the plan that will satisfy both you and the historical society's vision on the renovation plans.
There are rules in most historical districts that regulate the implementation of major renovations envisioned by owners. The latter are required to follow the original blueprint and design. This would mean instead of saving more by completely renovating a certain part of the house you will have to work around the original design without altering it which would cost more and take a longer. This goes without saying that you will have to reinforce the old design or completely restore it to make your renovation more stable and firm to last longer.
In order to save on renovation costs, deciding on a budget is a must. Paula Pant shares a few tips on how to minimize cost of renovation and still achieve the brand new look such as the use of peel-and-stick contact paper which helps you achieve the look you want at a much lesser cost. Replace switchplates covers, change the hinges handles and doorknobs, and install the right light spectrum depending on how the area will be used.
Other reasons for a higher cost and longer work period is because property owners fall into common home renovations mistakes. Lee Wallender stresses the most common mistakes which are the complete disregard for safety, unplanned renovation, get cost estimates from at least three subcontractors and lastly trying to do everything yourself.
Coordination with the local historical society and being knowledgeable of the building and renovation rules will help you save hundreds maybe thousands of dollars in the shortest time possible.
