Need Advice: Considering Historic Mansion Purchase

[Felix Sharpe]

Hi BP,

I need some advice. About two weeks ago, my wife and I were doing some house hunting when we came across a boarded up 4,300 sq foot historic home. To make a semi-long story short, we sent the owner a inquiry letter, and he'd like to sell the home. We will be walking through the home this week, and I want to know whether I should hire a contractor as a consultant to give me a ball park estimate on what the renovation would cost. What do you think about this idea? Would a contractor be willing to do this type of thing? Is it even possible to give that sort of estimate with only a 30 - 40 minute walk through the home? Are there any alternatives? What would you do? Thanks, I'd consider any advice you have to offer.

Felix

[James Pearson]

First, I would find out if the home has been considered a historic landmark, the approach with that mindset.  By all means, take a contractor with you, and pay them for their time.  $100 should do the trick, but you need to schedule in advance with them.  Nothing we contractors hate more than giving free advise on these sort of things, and you will be making your offer based upon things we discuss.  If the home has been deemed historic, you are now restoring the home, and not renovating it.  Find out what is required to do this sort of work in your area and make sure the contractor you bring with you is of those qualifications and experience.  For future reference, working with the same contractor time and time again will get this service for you free of charge once a good relationship has been established.