FOR PASSION OR PROFIT?

Lynette McFadden discusses the ‘DIY dream’ of renovating property, whether your reasons are financial, personal, or just to get on the property ladder to own your own home.

Long before the days of large subdivisions and multiple numbers of brand-new properties – before every new home came complete with landscaping, smart wiring, and gleaming chattels – it was often customary to buy something old, or even decrepit, to renovate and restore to its former glory.

It was almost seen as a Kiwi rite of passage, and for many, me included, it was the only way of getting on the property ladder. The factors guiding prospective purchasing decisions were usually money, location, time, and ability.

For some, a renovation was planned as a lifetime pursuit, restoring old dwellings into proud character residences, for others the project was a stepping-stone. And regardless of whether it’s a thing of the past or your current occupation, attention to detail while renovating will always determine both the success of the venture and future prospects when it comes time to sell (should that be relevant).

Let’s consider the money first. It’s not just about the purchase of the property, but how much is required to renovate it. Old homes – and I know from living in four properties that were between 80 and 100 years old – when you move beyond making them ‘look pretty’, can demand enormous sums for updating the electrical wiring, rotten timber, chipped paint, and other ‘surprises’.

It’s a task that takes time and skills which can stretch beyond a home handyman or handywoman’s ability. All that aside, however, the hard work, expense, and sacrifice are more than made up for with the joys of restoration and pride of ownership. There’s often a sense of history continuing too and I, for one, think that’s special.

Christchurch is still home to suburbs that are renowned for providing exquisite restoration and renovation opportunities, so do take the time to get close and personal with them.