With new home sales slow and buildable land on the island harder and harder to find, highly regarded luxury developer Bob McNally has come up with a new plan:  helping people evaluate older homes for expansion or remodeling.

“What we are offering is a simple system we call Palm Coast Signature Renovations,” says McNally, who has built nearly 300 custom homes and condos including the highly regarded Ocean Park development at Humiston Park.

The median age of houses on the barrier island now is 55 years, according to the U.S. Census Bureau, and many homes are 60 years or older.

McNally, who prides himself on his ability to quickly analyze a house and see its highest potential, says he will meet with a realtor, investor, homebuyer or homeowner at no cost, and provide his view of their options with an older home.

“Some houses can’t be successfully renovated at a reasonable cost and should be knocked down,” McNally says. “But many of the houses on the island can and probably should be expanded and improved for new owners and the next generation.

“We think renovation is going to be a big part of the future of the island housing market, and we plan to really concentrate on that,” McNally says.

Several realtors expressed enthusiasm about McNally’s plan.

“I think it is a brilliant idea,” says ONE Sotheby’s broker associate Sandra Alexander.

Douglas Elliman broker associate Sally Daley, who represents four spec homes McNally has on the market between the bridges, says he is as good as it gets when it comes to seeing the possibilities latent in aging houses and communicating his vision to owners and buyers.

“Major renovations can be scary and are often plagued by unexpected costs,” adds Richard Boga at ONE Sotheby’s. “Anyone trying to decide between a large-scale remodel or new construction could benefit from Bob’s keen insight and rapid pricing ability.”

McNally’s company Palm Coast Development has done home renovations along with new home building for years.  Now, he is bringing in his son Austin as executive vice president to help move this initiative forward.

He promises a streamlined consulting, estimating and renovation process that among other things will make it easier for realtors to sell older homes.

He plans to offer the same service to investors eyeing a property or homeowners wondering if their current house can be upgraded to make a wonderful long-term home.

McNally says he can come up with a structural plan and accurate rough estimate within a day or two at no cost and with no obligation to hire him.

“Of course, I would like to win the business, but there is no obligation,” McNally adds. “I am offering this as a service to the community.”

“One of the larger stumbling blocks we have to putting a deal together is how much it would cost to update or renovate the aging properties in the market,” says Luke Webb, broker at Luke Webb and Associates.

“This is even more crucial now with the higher purchase price on homes and the higher costs to renovate. Having an experienced builder like Bob be willing to come in at no cost and provide a much more accurate estimate than lay people could do would be a major benefit, helping buyers make a more informed decision.”

McNally has done high-end home renovations for years, working alongside his wife Jackie – who he says is “brilliant when it comes to kitchen and bath design – and who takes the lead on interior design and remodeling.”

As buildable land runs out, buyers often face a choice between purchasing an older home in a desirable neighborhood and tearing it down to build new or plunging into renovation to preserve the virtues of the existing structure and save time and money.

But renovation is notoriously filled with pitfalls and the possibility of unexpected costs and delays – which is where McNally comes in.

“We know what to look for to avoid unpleasant surprises,” he says. “We have check lists that we have developed over decades to know everything you need to look for and consider when making a plan and budget.

“If you go the traditional route of finding an architect who may take a year or 18 months to get to your plans and then have to find a builder who has to get estimates from subs to come up with a cost, it can take a long time. We can go from concept to approved plans and permit in four or five months,” McNally said.