When is it worth rehabilitating an old farmhouse?
Imagine that, after many years of spending long periods of time in Mallorca as a hotel or rental property, you have found a large country house that you are thinking of buying in order to renovate it and turn it into the home you have always dreamed of having on this island.
However, before you get too excited, you should contact one of the architectural studios in Mallorca to assess whether it is worthwhile or not to carry out the rehabilitation of this country house and if it is viable from all points of view.
Because, what could make it not worth the investment? Well, some aspects such as the ones we would like to share in this article.
Rehabilitation of a farmhouse: what you need to consider first
The rehabilitation of a farmhouse in Mallorca is a decision that must be taken after an architectural studio such as gHouse has carried out a detailed analysis of multiple factors. These constructions, emblematic of traditional Mallorcan architecture, can offer enormous aesthetic and functional potential, but their recovery must be evaluated in terms of technical, economic and regulatory viability.
These are some of the variables that we advise you to take into account:
1.- Structural condition and conservation of the building:
One of the most decisive aspects is the structural state of the construction. The solidity of the load-bearing walls, floor slabs and foundations is key to assessing whether the renovation of the farmhouse is viable and worthwhile.
For example, in many old houses, the masonry walls may be in good condition, but other elements such as wooden beam decks may need complete renovation. Or there may be other structural problems such as deep cracks or damp whose repair will significantly increase costs, calling into question the cost-effectiveness of the intervention.
2.- Urban planning regulations and heritage protection:
In Mallorca, many country houses are subject to heritage protection regulations and town planning restrictions. Before starting a renovation project, it is essential to consult the municipal regulations to determine which interventions are permitted.
Sometimes, limitations may condition the possibility of extending the house, modifying the façade or incorporating new materials, which could influence the decision to reform or discard the project. If you cannot modify those basic aspects that would turn this old building into a more up-to-date one, what would be the point of starting the renovation?
3.- Adapted energy efficiency:
Older dwellings often lack adequate thermal and acoustic insulation, which can be a challenge in terms of energy efficiency, as well as requiring a higher investment to improve energy efficiency.
A refurbishment that includes the improvement of envelopes or the use of renewable energies can make the investment more profitable in the long term, but very high at first. In any case, remember that the implementation of sustainable energy measures improves comfort and reduces consumption, in addition to the fact that today you can access public subsidies for efficient refurbishment.
4.- Cost of the intervention in relation to the market value:
Another fundamental aspect is the financial analysis. It is essential to assess whether the cost of the renovation of the old farmhouse is justified in terms of the market value of the property after the intervention. In areas of high demand, a well-executed renovation can considerably increase the value of the property. However, if the investment exceeds the estimated resale price, the renovation may not be such a good idea from an economic point of view.
5.- Functional adaptation and user needs:
Beyond the technical and economic aspects, refurbishment must address the functionality of the home. In many cases, old layouts are not adapted to current living standards, which means that spaces need to be rethought, new electrical and plumbing installations need to be installed, or even accesses need to be modified. Assessing the degree of adaptation required is key to determining whether the investment is worthwhile, as a lot of work may be needed to adapt the home to current needs.
In short, the rehabilitation of a country house in Mallorca can be an excellent decision or perhaps an idea that should be discarded due to the unfeasibility of the project. It all depends on aspects such as the current state of the construction, the current regulations or whether it is worth investing a certain amount depending on the results that you are going to obtain and the value that the house will have on the market.
For this reason, a prior technical study carried out by architects and rehabilitation specialists is essential to ensure that the project is profitable and satisfactory over time, especially if you want to convert this large house into a rehabilitated space that conserves its essence, but with the characteristics of today’s luxury homes on this island.
