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Gut a house and refurbish

Discussion in 'Home Improvement & DIY Forum' started by Thelt, Oct 19, 2006.

  1. Thelt

    Thelt Full Access Member

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    Anyone ever do this? My parents have an old house that is falling apart. It would need a lot of work to be habitable. The upside is they will give it to me if I want it. I wonder though if it will cost more to fix it than it would to build new.
     
  2. VA49er

    VA49er Full Access Member

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    Run the numbers and see.
     
  3. magnus

    magnus Chump-proof

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    anywhere I lay my head I'm gonna call my home
    the obvious question: how much is "falling apart"? Do you like the style, location, etc? or are you simply looking for an investment?
     
  4. Thelt

    Thelt Full Access Member

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    The house is located near my parent's house. They just built a new one and moved out of this old one about five years ago. The base part of the house is a log cabin that is roughly 150 years old. This part is still sound. The rest of the house has been built on in sections over the years and some of it is good and some of it might have to be replaced. I know if needs a new roof and part of the floor. I wonder if I could get a contractor to come in and give me a price on fixing all its problems maybe building on to it a bit? The location is good because it is on top of a hill in the country surrounded by about ten acres that belong to my dad.

    This would function as my primary residence for the forseeable future.
     
  5. THE GUTTER

    THE GUTTER Y!

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    You're going to spend a ton of cash if you can't do much yourself. If the area is not appreciating fast I say go ahead. If it is, might was well buy new now and not worry with the headache. I would say it would a fun but challenging experience to do it. I've always wanted to and probably will when I'm ready.
     
  6. Redsnapper

    Redsnapper Burp, gargle, spit.

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    As someone who has recently gutted and remodeled a master suite, bath and bedroom, replaced upper level windows, and painted the entire exterior, I will tell you, it's A LOT of work, especially if you already have a job. If you are lucky enough, time wise, to make this a full time project, I say go for it, but you better have some skills, or tools. But speaking from experience, the last thing one WANTS to do when they get off work, is go back to work, working on your house. If you have a sh*t ton of money, I'd hire a contractor, but Gutter is correct, it will cost an arm and a leg, gauranteed! 150 yr. old structure sounds kinda neat, also sounds expensive if your gonna hire somebody. I hate to just repeat what someone else has added, but got to run the numbers, and do some market analysis, talk to a realtor about recent sales, find out what similar real estate is going for where you are at, determine a budget, and see if you'll make a profit. Do A LOT of the work yourself to save money, and if you're getting it for free, it just may be worth it, but don't expect it to be done in 30 minutes like on TV, and whatever budget you come up with, add .25 to it, b/c it's almost always more expensive and more time consuming than originally anticipated. All and all, sounds like fun, good luck.
     
  7. HollyB

    HollyB Iz Lives

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    sell it to me
     
  8. Thelt

    Thelt Full Access Member

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    I grew up in that house too which sort of makes it neat to me. I can do things like carpet, drywall, painting etc. I can not do anything structural though.
     
  9. builder

    builder membered member

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    Hire a contractor to come in and replace everything structural. electrical, and mechanical. You do the aesthetic portion. That will save you a butt load and you can live there while you do the drywall, carpet, etc.
     
  10. Redsnapper

    Redsnapper Burp, gargle, spit.

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    Finishing drywall is a b*tch, you've been warned.
     

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