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The joy of renovation
12:10pm Tuesday 29th November 2011 in Property
With a renovation property, one of the things we tend to fall in love with is its oldness, giving the property an organic holistic feel unachievable with a new build.
Be prepared to lose much of this dreamy enchantment as soon as the diggers come in and consider what your lifestyle wish list really is.
It is worth considering whether a dilapidated but romantic ruin is worth keeping as you may have to compromise on modern conveniences and live with an old fashioned layout unsuitable to current lifestyles.
Renovation can also be much more expensive and stressful than just knocking down and starting again. There can be tax breaks such as reclaiming VAT which, at 20 per cent, can be quite a sizable chunk of money.
Research the availability of grants as this can sway your initial ideas and result in a much more cost effective and comfortable property.
Another key benefit of renovation is the ease with which you can introduce modern, efficient more ecologically sound and self sufficient technologies that a ready to move in house cannot easily accommodate.
Heating, drainage, water utilisation, insulation and energy efficiency are well worth considering as it will ultimately provide you with low cost, less dependent way of living. If you invest in eco-renovation you can satisfyingly earn less to produce more.
For the full article see the December edition of Smallholder magazine.