Things To Consider When Buying A Period Property

Photo by Annie Spratt on Unsplash

It’s many people’s dream to own a beautiful period property.  There’s just something about them that you just can’t replicate with most modern buildings.  But before you get too excited after an episode of Grand Designs and go off and buy one, there are many things you need to consider before you take the financial plunge.  

How much you may have to spend on it

Depending on the condition of the property, you’re looking at much more than the asking price to bring the home up to a good standard.  Factor this in when you’re looking at a property.  If the cost of the property and restoration is going to cost more than any future potential selling price.  Even if you are planning to keep the property to pass down through the family, you need to keep your financial wits about you and use your head as well as your heart.  No one can anticipate what will have in the future.  

Getting a thorough survey, or even taking a professional architect or tradesman with your when you view the property could save you a lot of money further down the line when you’re dealing with dry rot control and listing walls. 

Many properties will have deteriorating foundations which may threaten the structural stability of the house.  Consult a structural engineer to find out whether you need to have the building underpinned. 

Is it energy efficient? 

Chances are, the period property you’ve set your heart on is not very energy efficient.  Old houses tend to lose heat from their windows, roofs and walls.  There are things you can do to improve this, from double glazing to loft insulation.  It’s unlikely you’ll be able to bring it up to the same standards as a new build, but you should certainly be able to make substantial improvements. 

Modernise carefully

You may dream of living in a period house with loads of original features, but there are still some modern conveniences you’re going to need to invest in.  It is common for old properties to need a complete overhaul in terms of their draining, wiring and central heating systems.   

If you want to extend the floor plan of your chosen property you will need to get planning permission first and generally, all extensions to period properties must look modern, rather than trying to imitate the existing building.  If this is likely to jar with your vision of your home, then you’re going to need to find a workaround.  

Be sympathetic to the character of the property if you are planning on reconfiguring the interior, removing wall and chimney breasts might give you extra space, but often at the price of character. 

Retain original features

One of the best things about old properties is the authentic, original features they have.  These could include cornice, fireplaces, exposed brickwork or a statement staircase.  You’re going to need to reveal these and bring them back to life carefully when you’re renovating. You only get one chance to do it properly so you’ll if you’re not confident in your DIY skills, get a professional in to help.  You won’t regret it.

Choose partners who share your vision 

From run-down wreck to a beautiful home, you are going to need the skills and expertise of other people to turn your dreams into reality.  These people need to understand and share your vision and what’s important to you, after all, you’re going to be spending a lot of money with them.  

Make sure you can afford the upkeep

The responsibilities of owning an older property can impact you financially. Repairs and maintenance will have to be carried out regularly and by people with specialist skills, which often means a bigger fee.If you’re living in a listed building, there will be strict rules on what you can and cannot do to the property and the types of materials that must be used. You will need to understand the regulations that apply to listed buildings if you’re considering any changes, such as replacing windows to secondary glazing alternatives, for example, to ensure they are in line with conservation requirements and do not alter the building’s original appearance.

All of this can cause you more stress than you anticipated, both emotionally and financially.