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..

[Erin Margaret]

I pretty much exclusively deal with historic buildings. Sometimes commercial some times homes but all that are eligible for the historic registry, some things to consider:

1. Knob and tube wiring, in Wisconsin if you don't open any walls you don't have to bring the wiring up to code, but if you open the wall (including taking down lath and plaster to insulate) then you need to update the wires. Honestly it should be done anyways bit can be a pain, check out your codes

2. Wood work. Save it. Save all of it. People don't buy character homes because they look like modern flips, they buy them for the character. And when it had character they will pay accordingly. Which means NO to modern box kitchen...

3. Original single pane windows with hardwood frames and custom wooden storms outfitted with spring bronze are equally as efficient as double pane vinyl inserts and completely worth saving because they will last 200 years instead of 20. (People get all up in arms on this one defending thei vinyl but do some research. Reglazing Windows is easy and many small town hardware stores will do it cheap around here.

4. Foundations. It is likely your building has settled. Who cares, at that age if the foundation is intact do not mess with it, it has had 200 years to settle the likely hood of it shifting more is minimal. Adjust joists accordingly. However if your foundation hasn't been cared for and is falling apart you are probably screwed.

5. There are some great books on this matter, check out the craftsmen blog, and a book called 'living in the past'.

I refuse to deal with anything newer than 1920 because in my experience the quality isn't there.