All the Things to Look for When Rehabbing an Older Property
If you make your money rehabbing homes, then you already know that there is a lot to consider when it comes to finding the right properties. It’s especially true that you have a lot to think about when it comes to rehabbing an older property. While older homes are unique, they may also lack modern features that people want. If you’re interested in multifamily real estate, it’s important to look for specific components in older homes.
Consider TV and Internet
When older homes were built, there were no big screen TVs and no internet. You need to take into account that people didn’t have space for larger TVs in the past because they did not need them. Try to adapt the home to fit modern appliances. Likewise, you need to think about how to get internet access to the home.
Watch Out for Closet Space
Older homes have smaller closets. People tend to own more clothes and shoes now than they used to. Due to this, you might want to look for ways to expand the closet or add additional storage to the bedrooms. Closet space is a highlight.
Look for a Master Bath
If you don’t have a master bath, you may have to install one. Most renters and homeowners want a master bath nowadays. These weren’t as common in older properties. When it comes to older properties, this might be something that you look out for or that you consider adding.
Watch Out for Sewer Lines
Older houses have a lot of problems with the sewer line. If you’re rehabbing multifamily real estate, then make sure that you have the budget to fix any sewer problems. With older property, tree roots have a tendency to grow into the pipes and sewer line.
Focus on Energy Efficiency
Energy efficiency was not a consideration in older homes. Forget insulation in the walls and storm windows. You’ll find gaps and cracks in the walls and the older the real estate, the more likely it is to be drafty. When rehabbing a home, this is something that you need to take into consideration.
When it comes to older properties, they can be cheaper to purchase and tend to be more unique than new homes. When it comes to multifamily real estate, older homes tend to be the best to rehabilitate. Of course, in order to rehab a home properly, you need to know the specific things to look out for.