Re: Reality check! Re: buying a ( wrecked) old house
I agree with getting and inspection and some estimates. Generally speaking, restoration of an old house in such a condition costs more than just building costs. You have to add demolition cost and disposal. Re pointing the brick may negate the cost savings of having existing structural walls. Construction costs are higher because your dealing with dimensional lumber of a different sizes than the original and contending with a house that has settled and more than likely out of square. Living in a house while this is being done has caused many a divorce. And if you are hiring the work done, I think the $200,000 is probably half of what it'll end up costing. If you're doing it yourself it may be possible to be on budget if you survive. I hate to be so pessimistic, but having gone through the process with three houses I just want you to understand what you're getting into. It's very rewarding but takes a great deal of dedication. good humor. and being able to handle disappointments.
Be sure you live your life, because you are a long time dead.-Scottish Proverb