My family is seriously considering buying a property that was in a flood. The house is an old house built in 1900, 3000 sq. ft property. The flood water rose to 3 feet in the downstairs only.
Here is the deal, we need to do a few things to make the house livable again. We have to:
Replace the walls from 3 feet and lower in most of the downstairs
Re-wire the downstairs and get a new 200 amp box
Add a toilet to the existing laundry room
Carpet the floors and add linoleum-like flooring in kitchen and mud room
If we have enough money left over, possibly build a small island in the kitchen
And lastly, we may need new plumbing in the downstairs but we're not sure yet.
Here's the thing, our budget is around $25,000, possibly $30,000 if we get the house cheap enough. We haven't gotten any estimates yet, and we plan on doing that, but I'm just wondering what you people thought about doing all that work with that type of budget.
Is it feasible to pull this off with a $25k budget? We live in PA where prices are not as expensive as some places.
Any help would be greatly appreciated. If you need any more information feel free to ask. Thanks!