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  1. #1
    Join Date
    Jul 2008
    Posts
    3

    Default Save this old house?

    This is (another) "can it be done for this $" post...

    1830's colonial/farmhouse in Southern New England: Condition condemned, ~2400sf, never had a central heating system. Electrical and plumbing would need updates/replacement, and a kitchen and bathrooms would need to be designed and built. At least some (most?) walls and ceilings would need to come down or extensive repairs from water damage. Has newer roofs, but not before some damage, and one roof was not repaired.
    All original interior details (doors, hardware, moldings) are intact and appear to need only paint. Apparently post & beam construction and the structure appears good--most walls/ceilings/floors are straight (some floors slope, but expected in this old of a house). Exterior entry details are good, but most windows, all original shutters, and some ext. moldings (eves) are beyond salvage.

    It would be an incredible shame to lose this house

    Budget ~$200,000 after purchase. Plan: vinyl siding and insulated vinyl windows, respecting period style as much as possible. Cheap interior treatments for now (particle board, formica are OK) We can do all interior painting, R&R original moldings, and finish electrical work after rough-in. All other work would need to be contractors. (We are capable of doing sheetrock, plumbing, installing cabinets, and complete electrical work, etc. --everything--but could not do it in a reasonable timeframe.)

    Financing? Purchase and renovation would require sale of our current home. 203k loan has a 6 month renovation period?? Any other possibilities or credits for a "not quite" restoration?

    Help!? Please!

  2. #2
    Join Date
    Aug 2007
    Location
    The Great White North
    Posts
    4,045

    Default Re: Save this old house?

    Of course this is sight unseen......

    based on what you're describing I'm guessing more toward $240k and up.

    To be honest if got the place DIRT CHEAP .... salvage the details and tear down and build a new replica. It'll be faster and less headache and likely cheaper.


    Just 2 cents.
    "" an ounce of perception -- a pound of obscure "
    - Rush

  3. #3
    Join Date
    Jul 2008
    Posts
    3

    Default Re: Save this old house?

    Thanks Canuk,

    Hoping you're wrong, but thinking you're right...

  4. #4
    Join Date
    Nov 2007
    Location
    Pennsylvania
    Posts
    246

    Default Re: Save this old house?

    One question...why use vinyl siding on 1830's farmhouse?

    Anyway, my 2 ......200k budget on older house sound bit low because older condemned homes will always have hidden issue.

  5. #5
    Join Date
    Jul 2008
    Posts
    3

    Default Re: Save this old house?

    Quote Originally Posted by BigWalt View Post
    One question...why use vinyl siding on 1830's farmhouse?
    Please don't take offense. I knew this would be an issue for some people, but I think it is in our best interests long term. Hopefully you would agree, vinyl is preferable to the likely alternative that the house may be destroyed. If money and/or time were not an object I wouldn't have to ask how we can make this house work on our budget.
    I expect the one-time cost of a good grade vinyl would not be much more than properly replaced/restored wood starting from the current (poor) condition--it might even be less. I hate exterior prep & painting; vinyl certainly would be less once a single professional repaint is added. I can also get products from a mojor supplier at contractor cost, so I could save on window installs by doing some myself (I wouldn't try the siding though). Finally, vinyl takes care of lead abatement/containment/disposal issues.

    Thanks

  6. #6
    Join Date
    Nov 2007
    Location
    Pennsylvania
    Posts
    246

    Default Re: Save this old house?

    Quote Originally Posted by Matt T View Post
    Please don't take offense. I knew this would be an issue for some people, but I think it is in our best interests long term. Hopefully you would agree, vinyl is preferable to the likely alternative that the house may be destroyed. If money and/or time were not an object I wouldn't have to ask how we can make this house work on our budget.
    I expect the one-time cost of a good grade vinyl would not be much more than properly replaced/restored wood starting from the current (poor) condition--it might even be less. I hate exterior prep & painting; vinyl certainly would be less once a single professional repaint is added. I can also get products from a mojor supplier at contractor cost, so I could save on window installs by doing some myself (I wouldn't try the siding though). Finally, vinyl takes care of lead abatement/containment/disposal issues.

    Thanks
    Noooooooooooooooooo...no offense taken.
    I was just asking because I've seen people buying older homes and over do it with modern amenities [ nothing wrong with that] but when it comes to selling their older home, they're not getting what they want for it.


    There are no comparison between new homes and older homes. The charisma is there, craftsmanship is there plus many other things. You probably wish the walls can talk to you.

    I hope this clears up. My apologies if I cause any harm to you.

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