Thinking about a big Reno, need advice

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TeeSpot
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Thinking about a big Reno, need advice

Post by TeeSpot »

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Thinking about buying and renovating 1880s house. I attached picture. It was moved 12 years ago and put on new foundation and has sat. Has 2 holes in roof where fireplace was. Needs water, electric run to property but in downtown. Needs new hvac, possibly plumbing and maybe minor electric. That’s on top of buying it, interior exterior work, paint, kitchen and bath remodel.

It’s a pretty house with potential and would save it before it is lost to the elements.
What’s a starting Reno price. 100k?

Any advice please..
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Willa
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Re: Thinking about a big Reno, need advice

Post by Willa »

The price of a reno is determined by many things. Materials are a small cost compared to the cost of experienced labour needed to properly install the materials.

Market value of labour will determine your cost - ie reno workers in New York City cost much more than a worker in a rural community - even workers with a similar level of skill/same years of experience - due to the much higher cost of living in NYC, and other costs like parking and transit times.

My personal experience has been dictated by the law of three. The project will cost three times as much as you expect it will, and take three times as long.

It has also been my experience that most folks in the skilled trades do not have much education or experience in preservation type efforts with older homes. It is more more common that they have a slash and burn approach (ie "all this plaster and lath has to get taken out ASAP !") v.s. doing a sympathetic and intensive modification. Finding good workers, who are respectful of an old home has been a challenge for me. This is definitely affected by how the local community treats old property. Are they considered heritage gems that need to be protected or are they modernized and cosmetically updated to hide their age ?

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Gothichome
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Re: Thinking about a big Reno, need advice

Post by Gothichome »

As Willa mentioned, the rule of three is almost universal. That’s not to say it’s always true. As mentioned, depending on what your able to do your self, and what your vision is, It can be done under budget. 100 grand could easily cover the cost of bringing your old home back from the brink.
And welcome to the District Teespot, there are many helpful folks here, who are happy to offer advise based on real world experiences. Most things old home related has been done by some one here, and many more than once. Tell us more, and pics, we always like pictures here.

phil
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Re: Thinking about a big Reno, need advice

Post by phil »

price might vary depending if you are doing all the work or contracting everything out. some quotes might help you get an idea on cost. If you do it yourself and use as many recycled materials or find lefovers from other building sites and such you can save a lot.

It looks like a good structure, new foundation is probably a bonus, with an old house new wiring Hvac insulation, more modern kitchen would all make it nice to live in.

You have to love it, and if you have a spouse it is also very important that they do too because this is either a big cost , like 100K or it could be the next 10 years of DYI and labor of love. fix the necessities, move in and go at it room by room. It depends how you go at it. Some sane people might contract it all out and then move in, but that's not half the fun ;-)

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Re: Thinking about a big Reno, need advice

Post by 1918ColonialRevival »

A lot depends on where you are located. Here in the Baltimore/DC area, 100k wouldn't cover half of what that house needs. But, if you were in, say, North Dakota or some parts of the Southeast, you might be able to do the whole project for less than 75k, even if you contracted most of it out.

Also, if there are holes in the roof, you may be looking at some significant structural damage from rot inside.

Be advised if you go the contractor route that many of them are completely clueless when it comes to old houses and historic preservation.

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Re: Thinking about a big Reno, need advice

Post by phil »

historic designation might men different by area. Here it seems to only really cover the outside of the house and there is limited assistance. i have a friend that is under it and he says he bought it after the fact but it limits what he can do even to what colors he can choose but I dont' they are really concerned about the inside. it devalues the house here as it reduces the options for the next owner. that house is so big already why would you want to add on or change it on the outside ? So maybe it's worth it, You probably have different rules . You'd want a paint color that fits it anyway.

the problem with homeowners hiring general contractors is that often they dont' treat the homeowner well and take too long. If you write a contract I would be careful that the wording says what happens if it isn't acceptable quality to you or if the project runs on there should be a significant "carrot" otherwise remember you may be a one shot customer to the GC.. Often they will take too much on in tandem and remember you are the little fish.
You can also hire the trades all separately, that might work if you are good at managing, hiring, and firing them, and it's a bonus if you know how to do it all, or it can be a terrible expensive experience if you are not efficient at managing all the tradesmen or if you dont; understand where their duties overlap.

some of us do it by ourselves, not contractors, school of hard knocks, it takes longer but you get to whack your thumb once in a while and there is a lot more joy in that than worrying about what the contractors didn't do right.

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