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December 10, 2007
Victorian home renovation/restoration
While Im at it, I want to ask if anyone renovated a Victorian and how much it cost them. We would need (for a 3500 sq ft home):
-siding
-roof
-plumbing
-electrical
-floors (including fixing warping)
-redesign (of Kitchen and baths) and updating layout
Comments
You're looking at $275K up to $500K
Posted by: guest at December 10, 2007 5:05 PM
More than that, I'm thinking--if I were doing that much work I would want to do windows and insulate as well. Who knows what warping floors are about, but there could be structural work as well.
Posted by: bugleg at December 10, 2007 7:42 PM
I think this will cost around $350k...im not sure yet, but the home will be beautiful after!
Posted by: dssguy99 at December 10, 2007 7:51 PM
So it becomes a $2.5 million house. Not worth it.
For that money you can buy in a neighborhood that's considered by real estate experts as a better investment especially in a downturning market. Like Park Slope or Cobble Hill.
Posted by: guest at December 10, 2007 11:52 PM
Yes, correct, I feel 2.5 would be too much for something like this.
Posted by: dssguy99 at December 11, 2007 9:01 AM
It really seems the reason they're trying to get so much for the house is because they're trying to sell it as a commercial rental property, not a residential property. It's zoned commercial/residential both. If someone is looking at the cost of purchase and renovations for this place solely to use as a one-family or two-family strictly residential house the cost makes it a bad investment. But frankly, even as a commercial investment it's overpriced. As evident by being on the market forever. Every neighborhood has its crazy overpriced property that's perpetually listed for sale for years and years. I can name a couple in our neighborhood.
Posted by: guest at December 11, 2007 1:31 PM
Who knows...Im sure if he came down it would be gone in a second though.
Posted by: dssguy99 at December 11, 2007 3:00 PM
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