Why you should consider a non-perfect house … and then renovating
I see it all the time: people holding out for that “perfect” home. But with the realty demand high and inventory low, they can end up waiting a while and paying even more. In this post I partner with Chuck Hartman of AJH Renovations and Designed for Downtown to discuss why home buyers should consider buying a house that’s not perfect – and then renovating.
All over Greenville, South Carolina, you’ll find homes being renovated. Yet, renovations have a reputation for being costly, time intensive, and stressful – so what’s the appeal?
One person in Greenville who has made it his “one-man mission” to preserve older homes in Greenville is Chuck Hartman of AJH Renovations and Designed for Downtown. You’ll find Chuck’s work all over town.
Chuck was kind enough to partner with me in this post to offer his expertise on the value of home renovations. I hope his insight is as inspiring to you as it was to me!
Why are renovations a better investment than buying an existing home?
Chuck: The downtown Greenville market is in an undeniable ‘boom’ right now, and there doesn’t appear to be a downturn in the near future. This means that real estate owned in downtown neighborhoods is almost impossible to replace with equivalent value in a new purchase. Even though you can get more for your existing downtown house, you will pay an exorbitant price to replace it downtown. This is the consistent story of many of our clients who have tried in vain to move horizontally from their existing home to something else downtown. Renovating is simply the best financial decision for many who already own a home downtown. And they are spending less per square foot to renovate than the home’s market value – which equates to instant equity when the project is finished.
Are renovations really worth the extra time and hassle?
Chuck: No one will ever say a whole-house renovation is fun, that’s for sure. A remodeler in Texas developed the Funk Chart to track the emotional ups and downs of everyone involved in the project (including the family pet), and it’s a bit of a roller-coaster ride! But a good design/build process – where the design components are laid out in detail and many of the materials and fixtures are selected early in the game – will make the whole experience less painful, if not more enjoyable. An experienced design/build renovation contractor can help smooth the journey from concept to completion, and make the project itself go as quickly and efficiently as possible.
Why do you think the SC Upstate is the idea location for investing in home renovations?
Chuck: Greenville is a remarkable city, and many folks from around the country and the world are realizing this fact. Greenville’s growth model is the best – with the right mix of corporate, industrial, service, retail, and residential to keep the downtown area bustling well into the future. The concept of ‘growth anchors’ like the Peace Center and the Greenville Drive ballpark is truly cutting edge in urban revitalization and is being mimicked by other cities around the country. But there’s also just something about Greenville that is unquantifiable: a quality of life, an entrepreneurial vigor, an excitement that just permeates the whole downtown environment. All of this translates into a unique downtown living experience that drives the Greenville renovation market, providing homeowners with classic, but updated, homes that will increase in value for years to come.
Photos credited to AJH Renovations / Designed for Downtown