Their $100,000 renovation will easily become $150,000 they just don’t know it yet!!!
better get used to dealing with lead paint abatement.
Didn’t Tom Hanks make a movie about that?
That’s no lie. We bought a 2300 sq. ft.+ HUD home that, on the surface, seemed to be in really good shape. 5 BR, 3 BA on 1.2 acres, in-ground pool, all amenities. Got it for half the assessed value. Good interest rate, fair closing costs. I bet we’ve been nickeled and dimed out of $20k for hidden repairs and upgrades so far. Talk about a pig in a poke - I think we could have built new for what we’ve been bled for in the last eight years. You can put lipstick on a pig, but it’s still a pig.
That’s just to rehab HVAC, the roof, leaking chimney chase, bad plumbing pipes, rotted porch wood, bad gutters ...
On and on.
A century house is always a money pit. 💰
Not terrible IF you have done work like that before.
They will learn in liberal hell holes there are permits, inspections and codes. The old house wiring, plumbing, paint, .... will all have to be updated to meet code. In the end they will get 80 percent done before they go bankrupt With ever moving requirements so a politically connected buddy can buy the foreclosed house for 75k after these idiots put 250k into it and it’s condemned.
Lol.