Georgia is a fast developing country. Give the fact that real estate is one of the most significant pillars of a growing economy, investors are getting more interested in this field. 

There are so many old and run-down constructions in Tbilisi. This is a great opportunity for investment in renovation and remodeling. 

Here we will glance at what steps you need to take in order to have a successful renovation project. 

Considerations Before Start

Before you actually start the renovation and remodeling procedure, you should take a few things into consideration. 

Locations do matter. In Georgia, you may or may not need certain permits for any construction activity based on the location. 

For instance, Old Tbilisi is the hotspot for visitors. Real estate investors would love to be active in the area. One thing you should know is that in this area, you may not be able to even alter the interior of the building. 

Old houses in the area are strictly protected by the City Hall.

In residential areas, especially in Italian yards, an agreement between you and the neighbors can save you from so many construction dramas. 

What you Need

  • Permits. It can be like an OK by the Mayor’s office, an agreement between you and the neighbors or simply none of them. Do your homework before attempting to purchase a building or start a renovation process.  
  • Fund. Just any other real estate project, you need to calculate costs according to the seasons and the state of the market. Given the fact that most of the construction materials in Georgia are imported, you may as well consider the rate of the dollar. 
  • Construction team. Finding the right people to do the renovation and remodeling is a daunting challenge in Georgia but possible. There are also international companies in the house ready to offer their expertise.
  • Material. Doing a bit of research here can save a lot. Materials are distributed in different locations you need to shop around before making the final purchase.
  • Furniture/Appliances. The same story goes for the furniture. In Georgia, houses and apartments are usually offered as furnished rentals. It is always possible to find bargains and lower costs. 

What’s next?

If you think you’re cut out for this, keep in mind that you are going to be very busy. Real Estate is a growing business in Georgia and there are so many old buildings and structures in different parts of the capital Tbilisi. 

Some even argue that renovation and remodeling in Georgia are more promising than fresh construction. 

Keep in mind that doing your homework is vital for your success in this dynamic market. 

 

Want to know more about how a renovated building is viewed in Georgia, then check out Black frame and White Frame in Georgia.