If you are thinking of investing in property, it pays to use the services of a professional company. Most especially so if you are new to investment. Making the right choices is crucial. These include choosing not just the location but the type of property. Barns turned into homes are constantly growing in popularity. People love open beams and a rustic feel to their new home in the same way that others love a modernistic approach. So, what should you look for when investing in barn conversion homes?
Barns Turned into Homes : Legal Matters
Just as if you decide to carry out your own barn conversion, there are legalities to be looked into when investing in such properties. If the property in question was a listed building, was planning granted? If the property is listed, how will this affect any repairs you hope to carry out in the future? Listed building repairs used to be exempt from VAT, but that is not the case anymore.
So, once you have gone past the hurdle of finding out if the property is legal, you need to look at who owns the land. Who does the land belong to where the barn conversion has been carried out? This may not always be a straightforward question. All the more reasons to use a professional property investment advice service!
Barns Turned into Homes : Demand
Although barn conversions are popular throughout the UK, in some areas they are more popular than others. What return on investment are you likely to achieve? Will your property be good for the rental market? Are there any other similar properties in the areas that you can compare prices with? These are all questions that you need to ask yourself before falling in love with a barn conversion and signing on the dotted line.
Barns were not designed to be lived in by humans. This means that many will not have had a water or electrical supply before. Who carried out this work? What about insulation, cavity walls, and damp proofing? Was a structural survey carried out prior to the conversion? What about drainage on the land in question? When investing in a barn conversion it is important to ask all these questions and more.
Although these questions would also be asked for a new build, when it comes to old buildings, there are many hidden problems that may only rear their ugly heads once you have bought the property. Dry rot and wet rot may be present in original beams that have been used. Have they been treated properly? The quality needed for a barn conversion is extremely high if the end result is to be a habitable property.
Barns Turned into Homes : Conclusion
Like all property investment, barn conversions have their plus and negative points. But, it is all the more important to carry out thorough research when investing in a property that is essential centuries old. Use the services of a professional to ensure your new barn conversion doesn’t turn into your latest nightmare.