Where to Start With Totally Gutted House

[Daniel Sabato]

Hey Guys! With the housing market being absolutely crazy right now I am still looking for a primary home. I have a chance to purchase a home that is beautiful outside, amazing property, great neighborhood, best schools in the state, but the inside is totally gutted. Assuming everything on the inspection side checks out, where would I start with this home? It’s so overwhelming to think about but I am up for the challenge if I can make it work! Any advice would be GREATLY appreciated!!!

[David M.]

@Daniel Sabato

Actually, I'm not sure what you mean by asking where to start?  Basically, you are "deer in the headlights" when looking at a gutted house?  Sounds like you need to find yourself a good GC.  Figure out if there are any structural-type changes, e.g. open up a wall or something.  Then get the price/estimate so you can work your numbers.

When working your numbers, your "valuation" could/should differ since you are looking at it as your primary home.  so, figure out how much is it worth to you.

Absolutely, try to figure out and/or keep your eye out to why a gutted house is being sold.  In this market, it might just simply be because material prices are too high and they are cutting their losses -- just a wild guess.  Maybe there is a material defect.  For example, I saw a similar property come on the market way earlier last year.  In looking at the property, there was an inspection sticker showing failure due to leaked oil tank.

I'd be open to chatting with you if you need to understand the basics of "putting a house back together" after its been gutted.

Good luck.