I have considerable experience in such "projects" so I feel the need to offer "free advise".... worth every penny it costs you.. [to date, I've done 48 houses from like status, so BTDT, in spades]
1. Do not live in the house while rebuilding it. 2. Do not live in the house with a spouse while rebuilding it. 3. If you like the design of the house, take careful drawings of the footprint of the house, then call in a demo company that has big equipment [like a track hoe with a thumb bucket and semi size dump truck] and hire them to demolish the house down to bare dirt. The entire house should be gone in one to two days and the new building pad prepared. 4. Hire an architect to make building plans for the new house you will be building on the property. Hire a competent and well vetted contractor to build that house all the way to finish and paint. 5. Move into the new house and enjoy it, knowing you can insure it for market value of a new house, sell it as a modern house in 5 yrs or when ever you wish, having improved the market value. If needed, get a bank loan, because it will be "built to code" that is "completely up to date". Also, the new buyer will get qualified more quickly because the house will be "bankable property". 6. Rebuilding an old house is an endless set of compromises that become an empty pit to throw money into.... in the end accounting... cheaper and much quicker to demo the old one, start fresh... YMMV of course, Grant... On Wed, Nov 15, 2017 at 10:24 AM, Dan Penoff via Mercedes < mercedes@okiebenz.com> wrote: > I have to admit that I am somewhat envious. I did this on our first > house, and while it was a major undertaking, life was far more demanding at > the time which compounded the process. Now that my kids are adults and > I’ve got a lot more time on my hands it would be far more enjoyable and > much less stressful. > > Sounds like the major issues have been dealt with, so now you just have to > deal with finishing out the shell. > > Have fun! > > -D > > > > On Nov 15, 2017, at 12:06 PM, Donald Snook via Mercedes < > mercedes@okiebenz.com> wrote: > > > > The things I like most are that I am buying it for $40,000 less than the > County Appraisal. AND my payments will be less than half of my current > mortgage. AND living in a ranch house for the last seven years, this will > feel so much more open and have so much more light coming in! > > > > Don Snook > > > > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
