Purchasing a property with a blighted house on it may present a cost-effective opportunity. The presence of a faltering structure typically drives down the price tag. Once you buy the parcel and building, you must carefully consider whether razing or restoration makes the most sense. Rather than move forward with a predetermined idea about the next step, conducting due diligence that includes the following can help you make an informed decision.
Before hiring a contractor to demolish the building or improve structural elements, take a moment to think about the future. Consider what you envisioned when you bought the property. Now that you are ready to move forward with construction, does that vision necessarily require starting from scratch? Ask yourself the following questions:
If your goal does not require a complete rebuild using modern materials, combining use of old and new elements could make more sense. Homes designed using vintage materials blended with today's innovative products often prove attractive to potential buyers.
There are multiple ways of looking at keeping structural elements such as beams and foundations. However, the primary consideration involves safety. Older homes often included thick posts and beams that are far superior to today's commonly used materials. That means they will more than likely provide enhanced structural safety.
By that same token, termites, carpenter ants, dry rot and powder post beetle infestations may have reduced their structural integrity. Before a builder proceeds, it's critical to inspect the structure and determine the soundness and strength of these materials. If they meet or exceed today's stringent building codes, they can be a boon. Even if they require modest enhancements, existing structural supports can prove to be a cost-effective asset.
Using a calculator to add up the cost of razing permits, demolition and hauling away debris seems simpler than it is. You may discover unanticipated obstacles that ramp up your costs. These may include the following:
The key takeaway is that existing structural elements typically do not fall under these and other newly-minted regulations. Even reasonable structural upgrades may not necessarily satisfy the more stringent guidelines. New construction must always adhere to the current building codes, materials and zoning laws. Arriving at an accurate rebuild estimate requires substantial due diligence.
When deciding whether to upgrade structural elements and remodel or demolishing a structure, consider working with an experienced construction professional. Identifying the hidden costs can help you make an informed decision.
Welcome to Long Island Living at its best! The South Shore of Suffolk County is a suburban area that runs along the shoreline of the Atlantic Ocean. Homes in this area consist of primarily residential properties. This area tends to be diverse in culture and income as it varies by hamlet, village or town. Residents along the South Shore have access to many beaches, parks and recreational activities. I pride myself on my honesty, integrity, hard work and personal service. My first career was in education, starting as a teacher then finishing as a guidance counselor and achieving my Master’s and two PD's. In 1986, I began my real estate career. In a sense, I am still an educator and offering guidance; this time I am outside of the classroom educating my clients on the selling and purchasing processes; which have become so complicated recently and guiding them safely through the confusing and ever-changing real estate market. It is very satisfying to me to help people with not only the greatest financial asset in their lives but their greatest emotional asset; where they celebrate holidays, raise their families and live their lives. I take the needs of my clients very seriously and as a result, I am proud to say, over 90% of my sales are the result of referrals and recommendations. Primarily, my areas of service are the Townships of Babylon and Islip on Long Island’s beautiful South Shore, near pristine beaches and wonderful boating, yet only 55 minutes from Manhattan; truly the best of both worlds. I'm a graduate of the Real Estate Institute and am certified as a Senior Real Estate Specialist. I also hold a license as a Notary Public. Please feel free to call or visit so I can help you fulfill your real estate dreams. I am a Full Service Licensed Real Estate Associate Broker and provide the following: Free appraisal Rental Mortgages International relocation services Sales Home warranty new homes Free school report Waterfront specialist Notary public Please feel free to call or visit so I can help you fulfill your real estate dreams.
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