Raising a roof

[Minna Reid]

So I found this small house with one big problem. The house is 856 sq ft. Half of the house is a newer addition which is ugly, but fine structturally. However the older part (about 450 sq ft) is original from 1900 - houses 2 beds/1 bath. It looks solid, however the ceiling is claustrophobically low - like maybe not even 7'. I could never remarket this house without more ceiling height. Now from the looks of the roofline it does come down very low on the sides and I'm thinking my worst case scenario would be to have to tear the roof including trusses and build the walls up another foot or so to make that side comfortable, and put the roof back on. I'd like to put a worst case $10k sticker on this and proceed. Am I oversimplifying this?