Have You Bought A Abandon Or Old Run Down Home?

Quack, I bought a nightmare and can tell you the story, but the pics are on film, not on the computer.
In 2000, we found a 2 acre lot with a summer bungalow on it that was built in 1940's. The owner has passed, and the neighbors and daughters were kind of watching the place. That is a good size building lot here on Long Island, and there aren't too many of any size lots left.
The house had been added onto many times, the original framing was the REAL 2x4's. It had a coal chute in the basement, a 2-seater outhouse, the creepiest sci-fi mold growing in the basement, the roof was caving in, and a raccoon living in the kitchen.
You know then real estate shows a place, this is the pink house, this is the window house, this is the pool house, one feature that gets it named? Mine was the raccoon house. Biggest coon we have ever seen, silverback like the gorillas HUGE. ANYWAY...
We were in a hurry, but decided that rebuilding this crap box was not an option, we knocked it down, and built a completely new home in the rear of the lot. Long driveway sucks in the winter, but nice and private.
My DH took a year off from work, and the only things we subbed out were the concrete, (wood you can rip apart when you screw up, concrete is not so easy.) the spackle, (traded that one. friend needed an engine swap in his work truck) the roof shingles, (was just about to start snowing when we got to that point) the excavating, (my guy was fantastic. He dug the basement, septic, demo'ed the old house, plucked out trees in the way) the insulation, (we found out to have a company come in and do it, was the SAME price than to buy all that itchy nasty itchy stuff. And then do it yourself. and itch.) And HVAC. Another thing much too important to guess and learn on your own.
We did everything else. I must say, it still isn't done, just finish work, paint, stupid stuff, mouldings, things you can live without, unless you live with an OCD nut job like myself, you'll be fine.
Whatever you budget, double that figure.
Whatever your time frame is, it will take twice as long
Whoever says they will help you, after a while, they will get lost. Unless they will live there, then there is a chance they will stay on.
We bought scratch and dent appliances and fixtures, last years models, clearance rack at Home Depot.
We bought Anderson windows, don't be afraid to ask for a contractors discount anywhere you go. Another building block that is better to do ONCE in the beginning, than changing out windows later on.
I bought the laminate flooring from Sams club. SICK price. Can easily get changed out when I get tired of it. Still looks great after almost 10 years.
Ceramic tile came from Lowes. I learned on my first house, it is cheaper to do it yourself, rip it out and do it again, than to pay someone.
I know I sometimes sound negative, but I am a realist. Been there, done that.
You are welcome to PM me if you need help. Good luck! It will be a struggle, but it so rewarding to be able to do it. Roberta
 
I would say the biggest problem with the idea is government regulations. They would demand that thousands of dollars be spent on superfulous tests and regs, which have nothing to do with creating a sound structure.....For instance, if they determined that there was lead paint anywhere on the structure, you'd be in for an environmental cleanup, costing thousands of dollars, when in reality, it could be done with a dust mask, a pressure washer and a few sheets of visqueen and some garbage bags....Same thing they'd do, except for the governmental fees.
 
We bought a fire restoration October 2010. House was built in 1970 and fire had started in basement in 2007. Place set empty from 2007 till we bought it (with windows out and boarded up) I will send a link to my public picassa page for the photos. I would say the number one most important thing is to be able to do all the work yourself. We put 10000 dollars into it in the first 4 months we were here. That would have been 40,000 for a contractor. 1600 sq/ft upstairs divided in 2 bedrooms , 1 bath, lr/kit/dr.
Basement was open do to fire so we were able to stud it up like we want. 15x18 master, 8x12 walkin closet, 8x12 office, our own small sitting area, 1 bath, small spare bedroom. we stay in basement (still concrete floor and open studs) and we tried to concentrate on upstairs. Still looks a little rough because alot of the money went to things you dont see (all new electrical, new plumbing, new floor decking, etc.
If you can not do all labor yourself, I would say run away. Also you need to have at least 10,000 in cash after you close so you can get going enough to live there. Trust me...it is not cheap to do this. ill post the link for pics in a bit
 
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x2 on this. good will and good intentions aside, some will show up one time and find out it's real work, and that will be that. some will help when they can, but it won't be as often as you'd like or need them.
 
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this is an important consideration, depending on where you live...
in CA we looked at a lot where the cost in permits to just find out *IF* we could build was over $9000... just for the grade and perk permits (no not including any of the actual work to grade and perk test, just the permits). in MO, full cost of all permits to do the complete renovation on the house we're working on now: $175.
some of the cost will depend on where you are... research this first.
 
2009 my older sister and hubby bought a nasty house. Got it really cheap, it had junk everywhere. Old kids clothes, barbies, even a jazz ticket from 1997! Boxes of trash were in the backyard, styrofoam was all over, old curtains, popcorn ceilings, four buildings in the backyard three of which we tore down. One was a chicken coop!
The guy was obviously a hunter, there were heads on the wall, not human heads...but elk, deer, boars, buffalo! I cleaned out a rug in a shed that had blood and mold all over it, he drew paintings of deer and his last name all over the fence. Whew! They have sure turned that place upside down!
In my opinion, you being in your late teens and all it would be a great idea to buy a cheap place and put effort into it then, when your married, you'll have a place to go with no loans on it! Nowadays, that's a place a lotta people would like to be in.
 
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bought? no,but have got an uncle who lives in one which yes-can be described as an old run down home,to the extreme.
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this is his lounge before the last clearout,which wasnt that long ago: http://img26.imageshack.us/img26/4531/scan0028u.jpg believe it or not,it hasnt changed much since that state,as dad was over there last week.
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its a farm house that dad also lived in as a child but his brother was the only one of the lot who stayed in tipperary [ireland].
he has only just gotten electricity in the past few years-he used [and still uses] a old belling[?] cooker which runs on turf he digs up from his land.
this brother has long been assumed to have aspergers by family and autism specialists of mine,he has only ever lived with animals and hates interacting with people unless he has to so he doesnt care about the state of the house.
in his house he bottle feeds lambs and calves that have been rejected or orphaned by the mothers in his herd,and usualy ends up keeping them as pets as they get so attached to him.
he has done a lot for animals,as well as pioneered a local group against fox hunters trespassing on farmers land [many,including him have lost alot of animals to hounds running through his fields as well as fences being damaged] and also against farmers not properly ensuring their dogs are where they shoud be because of the local damage to animals from them...he just isnt one for decorating is all.
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The country is going to be full of foreclosed homes, so get your finances in order because I think, as a realtor, next year is going to bombard the market with homes that are going to sell WAY below appraised value. The ONE thing you always want to do on a home you are buying in this market is to have a certified home inspector do an inspection. It might cost you $275+ but it will be the best money you ever spent. It take anywhere from 3 hours and up and they go from the foundation to the attic. . .and a termite inspection. Usually less than a $100 and can save you nightmares later on. . .

I have decided to get out to RE next year; our montly dues are going up, yearly dues are over $400 a year, due in DECEMBER, and I just don't feel like I make enough to justify staying in another year. I hate it, and haven't told my bosses yet, but am sure this is what I want to do. Had a good run for the past 9 years, but its time to hang it up. I will actually save money staying home instead of running all over the place showing houses that the clients are not going to buy. Use to love it, but after awhile its wearing on the nerves. The laws have also gotten to stict and you have to be careful about being sued for ANY thing that its just not worth the stress.
 
we sorta went that route this house was hubs grandfathers who didnt have the funds to upkeep the house so among the most interesting things we found was tar paper covering the floors only to scrape that up and spend hours picking newspaper out of the grooves of the hardwood floors. The roof was litterally rotting and falling apart we tore that completely off found found it was still holding together with the original post and beams how that happened its a wild guess. Personally if it burned down i would be estatic.
 

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