Inheriting and renovating my first house
12/8/2017 at 1:47:56 AM
I recently inherited a older home which we have decided to rennovate, on the basis we can get a mortgage on it. We have good credit and it will be our first home. It does not have an outstanding mortgage on it, and we have paid off all back taxes. We are working on the transfer of property with the lawyer. What are my next steps? What are somethings I should be aware of as I start this process? Are there other large expense I should be aware of before I can get a mortgage i should be aware off? I live in Ontario.
12/8/2017 at 10:16:26 AM
I assume u should be aware of any updates for new codes in the structure and plumbing and electrical work possibly if convicted to a open concept then New beams to suport then open concept
Not sure haw old the house is but if really dated then possibly be sure to ask about new codes and regulations
And if doing a big renovations questions should be asked to u on what u plan on doing all info off above All inside work and out side foundation work is big if working on a older home. Inspection should fallow your pre Renovation work and after u have opened the place up
12/8/2017 at 10:34:32 AM
Grate question.
This is Jim from Jii fine homes.
At this point you need to consult an architect in your area. Familiar with building code in your city. And find together what exactly elike to do in the house.
In our company located in toronto. We have in home architect and initial consult is free.
You should have similar companies in Ottawa .
Anyway feel free to call me at+14166693779
12/8/2017 at 3:02:57 PM
Hi Rosina,
The first big ticket item is Foundation. Is it dry ??? or damp ?? Any cracks ?? is there a sump pump ??. Everything rests on your foundation so it has to be in good shape. Pay the $ 300 +/- for a good home inspection and this will give you a good Idea on what to expect, and where you want to put your priorities. Older homes are my specialty. Do lots of work in Ottawa. Advise is always free.
Thanks,
Tim Winges
12/10/2017 at 3:37:59 PM
First off get several estimates from as many renovators as you can, then you can set a budget based on that median baseline.
12/27/2017 at 3:03:21 PM
If you can post pictures of the exterior and interior major areas, i.e.- kitchen and bathrooms as well as the service room ( furnace / water heater, laundry rooms ) these will give us a good idea of the homes condition with respect to water/mold etc.
Typically we confer with you and your wish list and adjust the interior with a drawn out and approvable layout to meet those objectives.
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