New builds can be lovely. Neat, clean and tidy with few problems for owners – it’s easy to see the benefits. However, many people investing in a building for any purpose would prefer to have something with character. One of the most effective ways to do this is to repurpose an old building, giving it a new function and giving you a usable building filled with character.
There are many advantages to adapting an old building rather than choosing a new build. Whether it’s for work or for your personal home, it’s important that you feel comfortable and happy with your building. Many people enjoy owning a piece of history and like to feel as though their building is well and truly a part of the local area.
There are many different buildings that can be repurposed, for both residential and commercial means. Commercially, it is often decided that companies should take on an existing building if it is well equipped with the things they will need in their line of work.
However, it is perhaps more common for people to repurpose a residential building. This is because residential buildings that are privately owned will often become more desirable with age, rather than starting to become outdated. The history of a building can give it greater financial and social value, especially if the building itself is architecturally and structurally interesting – people value aesthetics when looking for homes. One of the most popular types of building to turn into homes are churches and chapels:
— Homebuilding (@MyHomebuilding) October 31, 2016
These can be turned into beautiful homes that are appealing due to their high ceilings and use of light. Some investors will choose to buy out a whole church and turn it into multiple apartments.
Of course, it’s not as simple as just taking an old building and moving in. The building will have to meet with a number of criteria to make sure this is possible. For example, it will need to be investigated to see how sustainable the building is. If it needs work to make it environmentally friendly, you will need to have a thorough understanding of what needs to be done to it and whether the existing building will be able to withstand the full extent of these works.
It might be possible for you to buy the building, however, if it is determined that the site could be sold and better use could be made of the land where it is sited, this may put you in a more difficult position.