Restoring original features in an investment property can feel like a delicate balancing act. High ceilings, intricate cornicing, or original flooring can all add charm, value, and a sense of history to a property.
But before you start dreaming about restoring those hardwood floors or Victorian tile (spoiler: it’s probably covered in layers of bad DIY decisions), let’s have a chat. Should you really restore original features in an investment property? Is it worth the time, money, and likely headache?
The answer depends on a variety of factors, including market trends, tenant expectations, and the property’s overall condition. Let’s dive into the key considerations before you grab that sander or hire a restoration expert.
Why Bother Restoring Original Features?
Think of it like adding personality to the property. A Victorian-era home with authentic mouldings, sash windows, or hardwood floors can resonate with tenants looking for something more than a sterile, modern apartment. Period features can create a warm, inviting atmosphere that appeals to tenants who appreciate history and craftsmanship. Plus it just feels a bit of a shame!
Restoring original features can make your property stand out in a crowded rental market. If you're renting to someone with a Pinterest addiction, that old-school charm can do wonders. They’ll likely pay a bit more just to live somewhere with "character"— which means more money in your pocket and a well looked after property.
And let’s be honest, isn’t that the end goal?
tml top tip - Make the reclamation yard your new B&Q. Most cities have them and it is rather fun wandering the rows of hidden treasures!
The "Cha-Ching" Factor
Okay, now we’re talking money. Restoring original features could add a bit of ka-ching to your property’s value, both in terms of monthly rent and when you eventually sell. Checkatrade is quoting a much as a 30% increase in the value! In fact, period details that have been tastefully restored often outperform their modern counterparts in both desirability and long-term appreciation. Buyers love a period property with all the bells and whistles, especially if you’ve done the hard work.
But don’t go too wild with the restoration dreams. Be mindful of the cost-benefit ratio. If restoring the feature is prohibitively expensive and won’t offer a return on investment (ROI), it may not be worth it. A balance must be struck between the cost of restoration and the potential value it will add to your rental income or resale price...we're still realists here!
When It’s Best to Let Sleeping Features Lie
Not all original features are created equal. Just because something’s been there for 100 years doesn’t mean it should stay there. Restoring may not always align with tenant demands. For instance, a retro 70s kitchen may have nostalgic value, but tenants are often looking for modern conveniences and energy-efficient appliances. In this case, modernisation takes priority.
Some older features may also pose maintenance or safety concerns, such as inefficient windows.If your charming sash windows a gateway for draughts and heating bills through the roof, maybe it’s time to replace rather than restore. Your tenants won’t thank you for preserving history if they’re wrapped up in five layers of blankets every winter.
Think pragmatically - if the cost to maintain or update original features outweighs their aesthetic value, modernisation might be a better choice.
tml top tip - Defining your strategy for your property is key when deciding which features to keep and restore. Who is your end user and what will they appreciate?
The Sweet Spot: Old Meets New
Here’s the golden rule: it’s not all or nothing. You don’t have to restore every old feature just to preserve your property’s soul. Think of it like this: a bit of vintage charm paired with modern convenience is like wearing a classic leather jacket with a brand-new pair of trainers—it just works.
By mixing old and new elements, you can create a property that feels both timeless and functional. This can help you appeal to a broader range of tenants, from young professionals to families, who want the character of an old home with the comfort of modern living.
So, What’s the Verdict?
Before you start restoring every single inch of that Edwardian beauty, consider this:
Will it bring in the tenants? Are they the type who’ll go weak at the knees over an original feature, or will they just want more plug sockets and faster Wi-Fi?
What’s your budget saying? Will the restoration cost pay off, or are you just throwing money at something only a history buff would notice?
Can you strike a balance? Maybe it’s not about saving every feature. Just the good ones. The cool ones. Like that beautiful ceiling rose—but maybe not the fireplace that might set the house on fire.
Will it work for the tenants? Because a restored leaded window is lovely until it lets in a gale strong enough to knock over the furniture.
Restoring original features can definitely add value and charm to your investment property. But like with most things in life, don’t go overboard. Choose wisely, and you’ll end up with a property that’s not just beautiful, but functional - and maybe even a little more profitable.
Are you more of a "restore everything" type or do you think some features are better left in the past? Drop your thoughts in the comments - we love a good debate!