I have this friend you has a house thats over a hundred years old. The land is great but the house doesn't look very good and not a lot of room. The funds are kind of low so there really isn't much he can afford. If you add on and rebuild the house do you think it would be cheaper than just building a brand new one? The basement isn't very good either so how would that work?
2006-10-03 04:48:10 · 5 answers · asked by Anonymous in Home & Garden ➔ Maintenance & Repairs
Consider the value of the existing house and land if he were to sell. It may be more feasible to build a new home on a new lot rather than tear down and start over. There are people who would likely purchase an old home such as this very quickly.
2006-10-03 04:56:34 · answer #1 · answered by Warren914 6 · 0⤊ 0⤋
This question cannot be reasonably answered in this forum. Your friend would need to have the house inspected by a licensed home inspector to find out the structural integrety of the house. It may be that it only needs cosmetic work in which case it would definitely be cheaper to do an addition. However if it is not structurally sound, then an addition would simply be a waste of money. For your friend's personal and financial safety, an inspection is in order. Your local building code inspections department can advise you of a residential inspector who is reliable and affordable.
2006-10-07 10:36:24 · answer #2 · answered by William E 4 · 0⤊ 0⤋
Obviously Budget is more an issue than value,,,current, or in the future.
The structure itself, and it being substantial enough to rebuild/repair/modify, could cost far more than an adequate NEW dwelling,,, beyond the fact that the "basic" aspects of the structure will still be OLD.
I'll assume there aren't any historical register issues.
If "your friend" can't afford to even cleanup, repair, paint, add on,,,it's likely HE can't afford NEW either. In HIS case he should investigate the value in the LAND, and Sell.
Rev. Steven
2006-10-03 12:14:38 · answer #3 · answered by DIY Doc 7 · 0⤊ 0⤋
take it down and start over.....most states require that if u do more than 50% work on a structure that u must bring the whole house up to code.....have the structure removed and start over and build a house that will be easy to add on to later down the road.....
lic. gen. contractor
2006-10-03 13:10:21 · answer #4 · answered by bigg_dogg44 6 · 0⤊ 0⤋
BUILD THE NEW ONE!!! Even if its more money its better investment. Actually it wont be cheaper.
2006-10-03 12:05:51 · answer #5 · answered by bdat40oz 2 · 0⤊ 0⤋