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

  1. 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.

  2. 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.

  3. 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.