As many people struggle to find homes due to rising housing costs and massive debt, some are getting creative in their solutions. One of the more popular ideas that is gaining traction is barn conversions. The idea is to buy a barn and then remodel it into a livable home.
For example, you may look at farms for sale in Michigan and decide to buy a barn on the property, and then turn that barn into a small living space.
However, not everyone is familiar with barn conversions and how they work. What are the positives about them and what are the drawbacks? Here are the pros and cons to barn conversions.
Locations of converted barns can be considered a pro or a con depending on how you look at it. Barns are usually built in rural settings with plenty of land around them. On one hand someone may look at this location and think it is perfect. It would be the perfect place to live on your own and live in isolation away from the problems from the rest of the world. A converted barn is likely to be peaceful and tranquil, perfect for those who like to be away from the rest of the bustling world.
However other people may view the location as a major con. A converted barn is likely to be far away from major towns and cities, and getting anywhere would likely be a hassle. For people that love being connected with society and enjoy having a wide range of options when it comes to stores in restaurants, the location is less than favorable. You need to determine what you value in a location and how closely a location like that mirrors your wants and needs.
The cost of a converted barn can be considered a major pro for many people. Buying a converted barn is usually much cheaper than buying a home of similar size structure. In addition, buying a normal barn and then converting it yourself may even be cheaper. Although renovations may be costly, you’ll likely end up saving money in the long run. As a result, a converted barn could be considered much more affordable than other homes in your area. If you want a relatively cheap location to call your own, then a converted barn is definitely something that you should look into.
One of the main cons to converting a barn are the renovations that the barn must undergo in order for it to be liveable. These renovations can be quite costly in order to make your barn liveable, especially if nothing has been done to improve the barn previously. Although the total cost of the barn and renovations are likely cheaper than outright purchasing a new home, the cost is still something you should be aware of. The cost of the renovations also aren’t the only thing that you should be worried about as well.
Renovations take an extended period of time, especially when you’re trying to convert an area that isn’t meant to house people into a liveable space. These renovations could take months, delaying your move by a considerable amount.
A major con to barn conversions are having to get utilities like electricity, cable, water, and wifi to the location. Barns are often constructed to hold farm equipment and livestock, so they are typically not built with these types of utilities in mind. Utilities are extremely important to living a quality life, so you’re going to have to get these utilities for your converted barn. However, that may be easier said than done due to a barn’s location and design. When purchasing a normal home, utilities are often thought of as a given, but when converting a barn they become another hassle that you’ll have to worry about.