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  1. #1
    Join Date
    Apr 2012
    Posts
    2

    Default Remodelling an old house!

    Hello,

    I am new to the group. Hope to receive good advise in this forum.

    We live in a cape god house which was built in 1953(by the owner)and in a very very bad shape.Each and every room needs update/repair.The house was bought in 2007 for a very high price by my husband who had limited knowledge in the real estate at that time. He relied completely on a friend who was a real estate broker.He did'nt even negotiate the price and did'nt even think about the cost of repairs and just ignored the inspection report.

    Anyway in 2009 afer our marriage,we upgraded our 2nd floor by using a contractor. The experience was not good and the contractor did not advise us properly.

    This year we are planning to upgrade the first floor,quite scared about the repair/remodel cost.Having paid high price for the house,we are not sure whether the investment would fetch us any return after few years. At the same time,we can't live in this house as it is.

    I appreciate,if you could advise us on the following:

    1. Does it make sense to remodel/repair the first floor?

    2. Should we sell this house instead of remodelling?

    3. Where can we find good general contractors?We do not have any reference.We live in Northern New Jersey.

    Thank you,

    Mali

  2. #2
    Join Date
    Jun 2007
    Location
    Fayette County, Ohio
    Posts
    5,622

    Default Re: Remodelling an old house!

    1. Does it make sense to remodel/repair the first floor?
    That is a very general and open question. With no details it is hard to answer. Pictures would be helpful along with what you have in mind to do.

    2. Should we sell this house instead of remodelling?
    In today's market selling could be difficult,. Remodeling usually requires a long term stay to recope costs.

    3. Where can we find good general contractors?We do not have any reference.We live in Northern New Jersey.
    1. Have a general idea of the work you want done, do research about how this type of work is done, and ask questions on here for advice.
    2. Always get least 3 estimates for work which should include a detailed list of the work to be done and material needed.
    3. Check with neighbors and friends for recommendations of contractors.
    4. Check Angie's list for contractors.
    5. Ask for references and to see work they have previously completed.


    Jack
    Be sure you live your life, because you are a long time dead.-Scottish Proverb

  3. #3
    Join Date
    Jan 2009
    Location
    Needham, MA
    Posts
    559

    Default Re: Remodelling an old house!

    i was almost done writing a big response to your question when i had to reboot my computer....grrrrrr

    in a nutshell, contact a local realtor to find out what your house is worth as it sits now and ask what it will be worth if you make the changes you want to make. make sure to ask for the projected sale price, not a listing price.

    then contact 3 contractors and have them all bid on the exact same list of renovations. then i would recommend you post your findings back here and we will all be able to give you some smarter advice.

  4. #4
    Join Date
    Mar 2012
    Location
    South Carolina
    Posts
    28

    Default Re: Remodelling an old house!

    Mali-

    You're not alone...2007, realtor/friend, paid too much, ignored inspection report, etc. Your husband just got caught up like many others. The good news is you still own the house and have something to work with. If you're credit is still in tack, consider that as another thing to be thankful about (If not you have company there as well.)

    Take the advice of MLBSF and JLMCDANIEL. I'll just add that you should be ready to work hard to break even and hope for better. Really attack this challenge like the mission it sounds like it is for you. Be overly organized, keep your paperwork, quotes, and research straight with folders/a filing system that makes sense for you. This will help ease some of your anxiety about this project.

    Things didn't go so well when you finished the 2nd in 2009? I'm sure you learned some things so be ready to make those lessons work for you on the 1st if you decide to move forward.

  5. #5
    Join Date
    Sep 2012
    Location
    US
    Posts
    11

    Default Re: Remodelling an old house!

    As you said you cannot live in the house as it is, you should go for a remodeling if it can be remodeled and brought in a good condition. People now have taken keen interest in remodeling the house and hence you get many contractors if you search them on internet. You too can make some efforts to remodel it by simply deciding what are the things you need to change. You can design how you want you kitchen, bathroom, rooms to look. Find out the market price of the cabinets, floors, counter tops,etc all that is required and find out an estimate. Or else just search on the internet you will find many sites offering kitchen remodeling at reasonable costs.
    Last edited by jerrymontana; 09-05-2012 at 12:24 AM.

  6. #6
    Join Date
    Sep 2012
    Posts
    10

    Default Re: Remodelling an old house!

    Remodeling an old house, change in exterior and interior of a house is a hard job to go through. Find a good source of professionals and experienced team who can remodel your house. Couple of months ago i was in same situation, was looking for Roofing Contractors in Sacramento, who can re roof the structure.

  7. #7
    Join Date
    Apr 2012
    Posts
    2

    Default Remodelling an old house!

    Hello!

    Thanks everyone for contributing your suggestions/ advice.

    At last,I have started doing something. In the Living Room, I removed all wooden panels. We have plaster underneath it. Does it make sense to respackle and paint the Plaster? We want to keep the cost to minimum. Gutting out the plaster/ hanging sheetrock may be a big mess and expensive. I appreciate if you could share your opinion.

    Thank you and Happy Holidays!

    Mali

  8. #8
    Join Date
    Jul 2010
    Location
    SoCal
    Posts
    5,436

    Default Re: Remodelling an old house!

    Mali,

    This is the million dollar question...and the answer is: it depends on the condition of the plaster.

    If the plaster is mainly large crack free, just needs attention, fix it and save the money.

  9. #9
    Join Date
    Jul 2010
    Location
    SoCal
    Posts
    5,436

    Default Re: Remodelling an old house!

    I forgot to mention: do a search on this topic, it was previously covered with lots of details.

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