Historic Homes

[Jerryll Noorden]

Most importantly,

My "m" didn't work, and I typed, "Historic hoes". I cracked myself up a little.

Now ...

So...

I have a home built in the late 1800.

Original floors walls etc. etc. I figured it will cost a fortune to bring it up to date.

But now.. I realized I should leave the floors, the trims as that actually adds value. So now instead of ripping all apart and replace with new, I "just" have to restore it.

Now does anyone have experience with restoration?

I would like to know if this is worth putting under contract.

And how does one comp historic hoes? I mean homes?

Do general market rules still apply? Or maybe because it is historic logic goes out the window just like people pay a fortune for crappy old ugly mustangs?

I can get it for about 1/4th the ARV. I just am not sure about repairs. If I go for the usual replacing floors windows etc. etc. it will be about 70 to 90K

If I restore it... logic says it will be cheaper.. but can you trust a monkey's logic? I think not!

As the beatles once said..

Help..