Just bought my first house

[dimon]

Just bought my first house, a semidetached property built in 1910.

I've decided to gut the building back to bare bones, removing old lath and plaster ceilings and walls and dealing with any damp & water penetration, giving us solid foundations to work with. From here I'll then make the structural changes, a full electrical rewire with additional lighting, renew the plumbing, new kitchen, home cinema and deal with any problems that might be expose a long the way. I'm going to open up the living room area by removing the load-bearing wall and replacing the back window with doors that lead onto the patio area, bringing a lot more light into the room. As this will make the room a lot harder to heat in the winter, we will also be insulating the walls, ceiling and installing a wood burning stove using one of the old chimney channels. Does anyone knows how much the house value is up after the renovation?

 

[Deanb7823]

Sounds good. As long as you have done you’re research before hand and worked out what’s what you should of had a rough idea what price range your going to fall in when you brought the house? You make your money when you buy not when you sell, but good luck hope it works out.

 

[nmb]

Sounds like a great plan - the success of this venture will obviously depend on the price you paid for the property and the cost of renovating BUT you will also be impacted by the "price ceiling" in the area. Is there demand for this type of property? Good luck with the venture - let us know how you get on

As a matter of interest, how did you finance the purchase and renovations? There may be scope to save some money here with the various options available.