Hi there everyone, My partner and I are new to the Real-estate game and we have been offered a renovators delight for a starting point (Location is GREAT in the town) at a very reasonable cost. (so it seems, i'm not sure if it really is or not)
On paper, the property would rent out very well, as its walking distance to the CBD of town, and not in too busy of a street. We are looking at this as a long-term investment, not a repair and sell type investment.
I am a Qualified Mechanic, with a very strong Mechanical Engineering background, however i have an understanding of how to work to a guideline, and i'm very practical with hand and power tools (sometimes a bit slow, but very accurate)
Anyway thats enough about myself,
The house we are looking at is a 3 Bedroom property, right on the edge of town, its an early 1900's wooden house, with a few alterations along the path of life.... I know its had a chimney removed at some point (not very well) and its been re piled (stumped) however, I feel the foundations have slipped again in that time.
There is about a 2" drop over the length of the house (say 25') which I would imagine could be jacked back up, possibly spacers ontop of the stumps, or adjusted bearer heights to make up for it)
We are looking to see what has actually happened to the house which has caused the house to do this, and would this straighten when the back of the house is lifted 2" (and foundations repaired accordingly)
The first photo shows the back of the house, the upper floor level seems to have moved back i guess this is around 2" or 2.5" and the 2nd photo shows the angle of the timber (should be vertical) boards inside, i know the 1' steel rule shown is not a "100% verticle" however it gives an idea, Electrically its good for another 14 years, so it has been up graded at some point. the 3rd photo shows some of what i can see from the storage space under the staircase, it looks fairly recent.
Is it possible to pull the upper floor forward (so to speak) to the front of the house again to straighten the back edge up? replacing the bearers and beams, joices' etc doesn't worry me too much. however if the house is almost impossible to straighten, its a bulldozer and build again type job. nor does the plaster on the inside walls (if done slowly, i'd imagine it would straighten again, as it doesn't seem to have been repaired over the time)
The middle of the house has been concreted to fill up the space and make a floor, so there is no wooden section in there, its possible to put a sand base, then chip-board and a floating wooden floor over the top. however I guess this would limit how much the back section of the house would move (approximatly 12' this is the most severly altered section)
anyway, all information would be greatly appreciated.
Thanks and looking forward to your replies!
Dan and Leni