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Old 06-16-2008, 10:36 AM   #1
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"New: House, and need some advise...


My Backround:

Avid DIYer, sub contracted work at my house (addition, kitchen redo, etc....). Do a lot of finish work myself, and know a lot about all the other stuff.

My wife and I want to move into a near by town, and are facing 3 option's. I am wondering which you would choose and why:

All, in the end will cost the same.

Option 1:

100 year old house. Needs to be gutted and redone. Lot is 64x149 (huge by us). THe plus for this is that it is an old house, has charm and character. The con is, it could be a can of worm's waiting to happen.

Option 2:

House recentely redone. Someone else took the house to the ground, and redid the entire thing. Some stuff may not be 100% the way I want it, but it is all new and good quality. Lot is all used, little to no backyard BUT has a pool.

Option 3: Find a lot, and build new the way I want it. Again, little to no yard once I add a pool (50x120 lot)

My dilemma is that the old house has the best location and biggest lot, BUT has the most "what if's". THe redone house I can move into today. Option 3 gives me what I want, BUT I need to go through the build process.

What are your thought's on this?

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Old 06-16-2008, 10:44 AM   #2
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"New: House, and need some advise...


If the 100yo house has a solid foundation, no termite damage, and you are ready for the unexpected, go for it. New construction just doesn't have the charm of an old house, and buying someone else's remodel that you are not 100% happy with will leave you... uh unhappy.

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Old 06-16-2008, 11:57 AM   #3
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"New: House, and need some advise...


Old houses will require a lot of time, hard work and money. If you like the character and charm of the old house, pay a reputable, licensed contractor (not a home inspector), who specializes in home remodels to evaluate the condition. Did you factor in the cost of a pool / zoning for the pool at this 100 year old house?
My opinion is if the home is in decent sound shape and it is what you really want go for it. Undertaking a major restoration while still living in the house is extremely difficult at best. Plan on renting an apartment for a few months (if possible) and store or sell your unneeded furniture.
I wouldn't buy a house that was just redone and wasn't up to my liking, except for cosmetic reasons.
added:
The biggest draw back with a new home is with the slow new housing market it may take a while to build equity. Be wary of a new build with this slowdown, use an established local contractor.
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Last edited by 47_47; 06-16-2008 at 12:02 PM.
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Old 06-16-2008, 01:26 PM   #4
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"New: House, and need some advise...


As far as the house value goes, another nice thing is that IF I get it for the 100 year old and get it for what I want and put in what I think it need's, I will have equity right away. GOing any other route, I will need to wait as you mantioned.

The pool I am not all that worried about. I will do that when the time is right, it is not an immediate need. I would live elsewhere for about 2 month's while the interior is redone and the kitchen and bath are made new.

THen, move in and worry about the exterior next year.
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Old 06-16-2008, 01:28 PM   #5
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Here's a pic of the old house.

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Old 06-16-2008, 02:50 PM   #6
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"New: House, and need some advise...


Old house for sure, maybe. Is that Aluminum siding or wood?

No for the old house if you want to wrap in in vinyl, trim it in PVC, buy cabinets at Ikea and own a fake Christmas tree you are planning to put into the parlor. That old house deserves better.

If you want to add unobtrusive AC, paint in period colors, restore working fireplaces, insulate w/o too much disturbance, etc then I would go for the old house.

If you cant really get the floorplan you want, the efficiencies, modern conveniences and location you want with the old house then build new.

good luck. I like that old house.
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Old 06-16-2008, 02:53 PM   #7
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It is aluminum.

Definately not vinyl, not sure what though. No Ikea and a real tree!!

Beleive me, my wife would have nothing "cheap"!!!
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Old 06-16-2008, 03:09 PM   #8
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"New: House, and need some advise...


Sad that that house was wrapped in aluminum. The hacks probably cut off the horns of the window sills and other shortcuts. Restoring just that would be a huge expense. I would rather have that house with peeling paint and rotted clapboards than with new aluminum siding. Thats just me. A full restoration may cost as much, or more, than building new. I would make sure I knew as many of the costs as possible up front, then double them, and use that number in my decision making process.

Good luck.
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Old 06-16-2008, 04:30 PM   #9
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"New: House, and need some advise...


Quote:
Originally Posted by dcd22 View Post
I would live elsewhere for about 2 month's while the interior is redone and the kitchen and bath are made new.
ROFL! You'd better rethink those plans. Figure 6 months minimum!
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Old 06-17-2008, 08:12 AM   #10
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"New: House, and need some advise...


I just did the same in my current house. Gutted two bath's and a full kitchen, stripped all pop corn and repainted every room and added hardwood to each room. Some work was subbed out, but not all. That took me 2 month's to complete so I was using that as a time line.

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