Hello :)

[2kwa]

Hi everyone,

I am actually doing research before deciding if my husband and I have what it takes to take on a 1932 Cape that has been added onto (not very seemlessly) and will require major renovations. The house belongs to our inlaws and they are willing to give us the house if we will let them live in the inlaw appt until, well, lets just say they are very elderly. They have really let the place go but I see great "bones" and potential.

Briefly, I am thinking it will need at the very least, new siding, wiring, some plumbing, complete redo of the kitchen, I am concerned about possible bats in the basement and mice in the attic (you would think it would be the other way around, LOL) new windows and doors. There are other cosmetic things but really too many to list...and don't ask about the yard, LOL.

We own our own home but theirs is bigger and has more land in a desirable area. It could be a great opportunity or a money pit...How do you know which?

Looking forward to learning,

K

 

[glennjanie]

Welcome KWA:
You are saying you have about 60% of a house according to what you want to change. If you can afford 40% of the price of a new house, you have a go. Doing the work yourself will reduce the price some but will take a long time to complete. Remember 1/3 of divorces in our country are the result of building and remodeling.
Glenn

 

[2kwa]

Hi Glenn,

Yikes! What an warning (about the divorce rates)....We would sell our house to fund the project. We have a lot of equity as we bought the house before the prices in our area skyrocketed. Luckily we live in an area where houses are selling well so we think (or hope) that it wouldn't be a problem. I am concerned about the unknown....Mold. Does a standard home inspection reveal things like mold?