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Old 09-06-2008, 04:16 PM   #1
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old house need repair

Hi. Im planning to buy this old house (200 old) and i need some advice. The house is really old, some windows r leaking, outside wall paints are falling off, need to rewire everything, big holes in walls inside...i wanna know around how much is to fix it? i only have enough money to buy the house, so i can't torn the whole thing down and built a new one. plz help and dun say anything insulting cuz this is the only house i can afford


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Old 09-06-2008, 04:40 PM   #2
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The only accurate estimate that you will be able to get, is by having licensed individuals visit the home, and inspect the home's various conditions, and the areas that require repairs.
No licensed and qualified person is going to quote anything over the phone. It is like asking someone to guess your height and weight over the phone/internet.

Additionally, if a person understands that you do not, as of yet, own the home, they may charge you a fee for the inspection, and for the written estimate. This is because it takes their time and gas to come out and back, and also time to put together a written estimate, and these are all a pay-able service that they are providing you.

Good Luck, and realize that a home, "in need of repairs", can easily turn into a money pit, in which you will not get your repair investment funds returned on.

Please House-Shop wisely. Use your head, and not your heart. It's just as much about money, as it is about a comfortable place to live in.

If, as you are stating, you only have enough money to purchase the home, and not perform any repairs on it, then the general consensus is defintily going to be, not to purchase it.
Home's cost additional funds, period. They are an investment, and they require regular maintenance. No way around that.

Best of Luck. There will always be other homes for sale.


- Build Well -

Last edited by AtlanticWBConst.; 09-06-2008 at 04:44 PM.
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Old 09-07-2008, 10:53 PM   #3
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The last 15 years of my career, my company restored antique homes of the early 1800s. I found that it cost way more than double to restore an older home of that period than it would have cost to build a new home. I really did love working on the antique homes but it is slow and costly work even if you do it yourself. Once you start you will find most times that the further you go the more you will find that really needs to be repaired or restored.

Last edited by BigJim; 09-07-2008 at 10:56 PM.
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Old 09-08-2008, 10:20 PM   #4
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You'll need true grit

I've bought and sold homes now for many decades. I've ventured into old "fixer uppers" and new construction.

The comments you already have had to your question are dead on target.

Not only will the work you envision multiply more than ten-fold, you'll find that the cost for the materials, tools, permits, licenses, etc, are only the tip of that old iceberg. In addition to my other lives, I've been a licensed Real Estate Broker in that great old town of "Hot-Lanta". I've lived through individual home restorations, refinishes and entire neighborhood revivals. It's much more glamorous sounding than it is in actually doing the job.

I totally agree that buying a home; not a house, is an absolute need for man (woman). "Be it ever so humble, there's no place like home" is as true now as when it was first spoken. But, where will you live while this multi-year job of fixing up this old place goes on and on?

Since you say you have not enough money to invest in anything beyond purchasing the old house, how will you be able to afford the costs and hidden charges that will pile up in no time?

No, my friend, you definitely should not buy this house. Buy whatever you can afford in a more up-to-date house or, better yet, rent and save whatever money you can so that someday (maybe soon?) you could afford to take a flyer and buy a "fixer-upper".

The best of luck to you. I hope everything works out well for you.
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