Home Remodeling

[pixiegirl]

I guess not just remodeling but total renovation. Here's the deal; we have the opportunity to buy a property at an unreal price (cheap, that is), the land itself is probably worth what the price is. That being said, the house that sits on the land will likely need to be gutted all the way down to the bones. I mean there's not a lick of drywall in it that we'd even consider trying to salvage, there are hardwood floors that have been underneath carpet that look to be capable of being restored BUT we only pulled the carpet back in a few places. When it's completely taken up it may be that they're not salvagable at all. There's nothing to salvage in the kitchen or bathrooms at all. And the roof is sagging in one spot. So to sum it up this would be a major undertaking but possibly potentially really worth it. We'd likely contract out 90% of the work because he's handy but simply doesn't have the time to do the amount of work that needs to be done.

Has anyone ever gutted a house and renovated it? Is it worth the aggrivation?

 

[kwillia]

My first thought is... what do you consider to be the "pros" of taking on such a project... why would you consider this being worth the time, money and effort at this point in your life...:shrug:

 

[chernmax]

Wow, seems like quite a task, good luck...

 

[LordStanley]

I guess not just remodeling but total renovation. Here's the deal; we have the opportunity to buy a property at an unreal price (cheap, that is), the land itself is probably worth what the price is. That being said, the house that sits on the land will likely need to be gutted all the way down to the bones. I mean there's not a lick of drywall in it that we'd even consider trying to salvage, there are hardwood floors that have been underneath carpet that look to be capable of being restored BUT we only pulled the carpet back in a few places. When it's completely taken up it may be that they're not salvagable at all. There's nothing to salvage in the kitchen or bathrooms at all. And the roof is sagging in one spot. So to sum it up this would be a major undertaking but possibly potentially really worth it. We'd likely contract out 90% of the work because he's handy but simply doesn't have the time to do the amount of work that needs to be done.

Has anyone ever gutted a house and renovated it? Is it worth the aggrivation?

The house seems like its in bad condition... Get a dozer, level the house, build new....

Are you planning on living there, or are you flipping the purchase?

 

[Vince]

Questions: (1) Is there a basement and does it leak? (2) Is the house structurally sound with the exception of the sagging roof? (3) Have you had a termite inspection? If you have termites, take bull dozier to the place and start from scratch.

 

[pixiegirl]

My first thought is... what do you consider to be the "pros" of taking on such a project... why would you consider this being worth the time, money and effort at this point in your life...:shrug:

The pros would be that I'd pretty much be getting a new house with whatever I want. The ability to design the kitchen I want, the bathroom I want. With ALL the drywall needing to come out I could set up the house in damn near whatever configuration I want. It's a little bigger than where we're at. It sits on 2.4 very private acres. We'd be able to add an attached garage and a detached as well where as we don't have the room on the side of our house now to put on an attached garage.

The cons... $hitty timing with the wedding less than 5 months away. We'd sell our house at the same time we bought this one. The house is not liveable so we'd have to either move in with one of our parents or rent something for a few months which is a PITA. He says if we do it I HAVE to get a new car. It's off of a private dirt road that's in rough shape and with the way my car handles in the snow there's no way I could get in or out in bad weather. That's not too horrible as we'd already decided that I was going to get a new one after the wedding. But the road dictates to some degree what I should/shouldn't get.

 

[pixiegirl]

The house seems like its in bad condition... Get a dozer, level the house, build new....

Are you planning on living there, or are you flipping the purchase?

We're planning to live there BUT as Kenney Chesney would put it, I have a gypsy soul. We were in our last house 9 months before we sold it and we've only been in our current a year. I plan on staying there for a good long while but I change my mind when the wind blows. So dozing the house and building isn't an option.

 

[pixiegirl]

Questions: (1) Is there a basement and does it leak? (2) Is the house structurally sound with the exception of the sagging roof? (3) Have you had a termite inspection? If you have termites, take bull dozier to the place and start from scratch.

1) There's no basement, only a crawlspace.

2) From the looks of it absolutely. It's been inspected and per the inspection it is.

3) That hadn't even crossed my mind yet. But good lookout. I'll add that to my note.

A family friend is a master electrician and flips houses on the side doing most of the work himself. I think we're going to ask him to come look at it so that we can get a better assesment of how much work/time/money is needed. B is handy but this is way beyond him.

 

[Christy]

A family friend is a master electrician and flips houses on the side doing most of the work himself. I think we're going to ask him to come look at it so that we can get a better assesment of how much work/time/money is needed. B is handy but this is way beyond him.

Good idea. Don't want to get yourself in to a money pit. Cosmetic stuff is easy, but when it comes to plumbing, structural, and electrical replacement, that costs serious $$$.

 

[pixiegirl]

Good idea. Don't want to get yourself in to a money pit. Cosmetic stuff is easy, but when it comes to plumbing, structural, and electrical replacement, that costs serious $$$.

We have no idea how much it'll cost. We went to see it with the mindset that if it needed $50k of repairs we'd be on it like white on rice. B's looking at it thinking it's upwards of $100K. Which with the price we'd pay is still in the "considerable" range but it makes it a lot less attractive since it's so bad we can't live in it while repairs are being done. The pros and cons are about even. We'd be close to you again.

 

[nomoney]

could always buy a little 10k trailer to live in on the property while you're fixing it up

 

[kwillia]

could always buy a little 10k trailer to live in on the property while you're fixing it up

Oh stop... your trailer is worth no more that 5k and you know it...

 

[pixiegirl]

could always buy a little 10k trailer to live in on the property while you're fixing it up

That's a good idea! That way we'd be right there to see it. And we could sell the trailer when we're done. Hmmmmm.

Humor me for a minute. How does the water/septic/electric run on a trailer. I'd assume tanks for the water/septic? Do you run electric to it or run off a battery?

 

[Vince]

That's a good idea! That way we'd be right there to see it. And we could sell the trailer when we're done. Hmmmmm.

Humor me for a minute. How does the water/septic/electric run on a trailer. I'd assume tanks for the water/septic? Do you run electric to it or run off a battery?

You could probably tap off the system from the house. It should already have water, elect and septic.

 

[CableChick]

That's a good idea! That way we'd be right there to see it. And we could sell the trailer when we're done. Hmmmmm.

Humor me for a minute. How does the water/septic/electric run on a trailer. I'd assume tanks for the water/septic? Do you run electric to it or run off a battery?

I have a 31ft travel trailer I'll sell ya!!!

 

[pixiegirl]

I have a 31ft travel trailer I'll sell ya!!!

How much? I'm seriously considering this.

 

[jazz lady]

Pixie, rent the movie "The Money Pit." You will running screaming from that house.

Seriously, check out the show "Flip That House" on TLC sometime. It tracks people who buy houses with problems to renovate them and sell them. Whatever money and time you budget double it right off the bat. It's a lot of work even if you are getting someone else to do it.

 

[pixiegirl]

You could probably tap off the system from the house. It should already have water, elect and septic.

Yes it does and they were both in good shape. There was something wrong with the plumbing but the well and septic tank were both fine. Something about they couldn't maintain pressure so there was a possible leak? B said it could be for some other reason but I don't recall what it was he said. I assume that wouldn't matter though since that was the plumbing in the actual house?

 

[Nickel]

Pixie, rent the movie "The Money Pit." You will running screaming from that house.

Seriously, check out the show "Flip That House" on TLC sometime. It tracks people who buy houses with problems to renovate them and sell them. Whatever money and time you budget double it right off the bat. It's a lot of work even if you are getting someone else to do it.

That movie cracks me up. I got caught up in a Flip This House marathon on A&E yesterday, which was fascinating. Flipping homes is something I've always wanted to get into (in the far future, like after D retires), and it was interesting to see the process from start to finish. I was amazed at how much money it costs to renovate...tiny homes for $30k +. And in almost every case, there were a ton of unforseen problems once demo/construction started. It definitely takes dedication and a tight wallet.

 

[Christy]

How much? I'm seriously considering this.

You should. My sister did this. Royally pissed off the neighbor's, but they hauled in a trailor and lived in that for about a year until their house was built. Check on the legalities of it though. I believe the county has rules on trailors. My sister had to make sure it was made after a certain year and some other crap. I'll check with her and see exactly what it entailed.