We are thinking about buying this beautiful 1880 Victorian home. We would live in it, not rent it out. We can pay for it outright but it needs some work. It has a new roof but needs a new paint job which is mucho work. The mechanicals are updated but the interior is ugly. Wallpaper needs to be torn off, carpet removed, floors refinished, ect.... The "bones" of the house seem in good shape. It just needs some good old fashioned elbow grease. The sellers are asking 135,000 for the house which I think is very reasonable, even with the work that needs to be done. I have always admired this home when I walked by it. What do you think?
http://i238.photobucket.com/albums/ff36/chrissygiese/Victorian2.jpg
http://i238.photobucket.com/albums/ff36/chrissygiese/stairs.jpg
http://i238.photobucket.com/albums/ff36/chrissygiese/Livingroom.jpg
http://i238.photobucket.com/albums/ff36/chrissygiese/backyard.jpg
2007-08-25 10:53:07 · 14 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes after inspections and a net sheet from the REALTOR. You haven't said where it's located so it's hard to say for sure. Some areas where you might find a house like this aren't safe to live in but, most seem to be coming back strong when loving (STRONG) hand take them under control! Good luck and keep us posted. Remember the appeal of the Victorian is the old Victorian look. I found a link I have to share and you will probably be one of the few who will be able to appreciate what these people have done with theirs!
2007-08-25 11:32:13 · answer #1 · answered by helprhome 5 · 1⤊ 0⤋
First, some things to consider. 1) assuming its in a good location (you walk by it, so I guess you like the area and live nearby 2) a complete home inspection is a must 3) what are similar units selling for (in restored/good condition) and is the price difference enough to cover your costs and make a profit? 4) How strong is your relationship, as a Restoration takes time, commitment, money, etc. and this will try your relationship. 5) how much patience do you have?
Restoring/updating a home is a great project but it will become the focus of your life for a while and the two of you need to be prepared and committed to the project. You will both need to have the same vision, so some long talks and being honest with each other is step one.
Good luck with your project.
2007-08-25 13:38:26 · answer #2 · answered by reggelv2 3 · 0⤊ 0⤋
This house is beautiful, But you will have to invest a lot of money into it. When you start tearing out to fix it you never know what is inside the walls?What kind of insulation it has in it? Are the joists strong or have they been replaced? What about led paint?Are there termite damage? When was all the sourage pipes and electric wiring been changed in the house? What about the windows are they insulated? How long has it been setting empty?
OK how much is the taxes? And how much would it cost you to insure it?And have you gotten an estimate on how much it would cost you to up date it?That is some of the questions you should ask you're self before you purchase it.
It would be beautiful, but no I wouldn't purchase it to old. But maybe you would , that is something you would have to make the decision. Hope this help you.
Queen bee
2007-08-25 11:27:02 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I would get an inspection before buying it, but it is lovely!! I wouldn't mind the hard work, because the end result will be fabulous!! We almost bought a house similar to this....***sigh***. Now we just have a plain, old house.
Get the inspection, though. I'm not too sure of the roof and the foundation from the pics.
2007-08-25 11:03:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think that this house is beautiful! I am looking past all the work that needs to be done, and I say go for it! The style is unique and with paint and upgrades you will make the house worth a lot!
2007-08-25 11:02:32 · answer #5 · answered by daisy 2 · 0⤊ 0⤋
All of the suggestions are great. Definitely get a termite and inspection done on plumbing, electrical, etc. I just wanted to add that you might be able to get assistance with the "revamping" of the house if it has a historical value to it. You might check the records in your town. You may also be able to get a tax exemption also.
2007-08-25 11:15:18 · answer #6 · answered by Bill P 5 · 0⤊ 0⤋
OK, where is it because I'm buying it if you aren't. :-)
Be sure to get a home inspection including pest and dry rot before you proceed. A good home inspection will tell you whether it needs cosmetics or serious renovation.
If the home inspection meets with your approval, go for it!
2007-08-25 12:49:20 · answer #7 · answered by godged 7 · 0⤊ 0⤋
So are you going to keep asking this question until you hear what you want to hear or what? Then Yes Yes Yes buy the house
2007-08-25 12:23:49 · answer #8 · answered by Pengy 7 · 0⤊ 0⤋
Make sure you get the bones inspected, but it looks wonderful
2007-08-25 11:16:26 · answer #9 · answered by Landlord 7 · 0⤊ 0⤋
its not clear from the pictures. just check for termites if in case. well u said u have admired the house then if i would be u, i would have just grabbed the oppotunity
2007-08-25 11:08:18 · answer #10 · answered by kuch_dilse 2 · 0⤊ 0⤋