Our kids have situation, wondering if anyone else been through it

[kickinbull]

They inherited an old old house that's been remodeled at least twice. It's also had several additional parts added over the years. The house is settling, boards and drywall seams moving. They've been fortunate that they're out of debt, but they think that's going to change. All the work will be contracted. Two ideas, build new or fix old. Leaning towards new because of rate of settlement. Anyone been there? If so what did you choose and would you do the same again? TIA

 

[MurraysMutts]

The first step would be an inspection of the existing foundation before I made any decision.

You'd be amazed what a man with experience on foundation work can do! Old houses settle. That's what they do.

The money they save over building new can make an old house really shine!

 

[coachg]

Materials are super expensive right now and some things are months on backorder or impossible to get . I wish them luck on whatever they decide . My daughter and son in law are 2-3 months behind schedule on their build because of the supply chain . Hopefully they will be in by Christmas

 

[Ky hills]

Without seeing it and just going off of the foundation issues, that in itself is going to be expensive, but not like building a new house. If there are many other major repairs needed then building new may be more viable.

 

[simme]

Some things to consider:
Foundation inspection as Murray suggested with estimate for any repair.
Termite inspection.
Maybe an overall inspection by those guys that inspect houses for real estate closings. Be sure to find a good one. Sort out the cosmetic issues they find from the serious issues and get estimates for the serious/major issues.
If the house needs considerable repair/remodel, think about code issues. I think at a certain level of remodeling/repair, out of code issues have to be fixed. Look at what those are and what it would cost.
What would the house be worth if it were in good shape? Is it a real gem if all the repairs were made or just an out of date repaired house? Does the layout and style fit their needs? How does the repair cost compare to the cost of a new house that they would build?
Regardless of quality of inspection and estimates, there will be the things that are not seen or discovered until the repairs start. That is always a risk.
I have no real experience. Just watched a lot of "This Old House".

 

[wbvs58]

Is it liveable as it is? If so I would move in after doing just minor repairs, a lot you can do yourself. Live in it for a few years while stashing away the money to build a new one. Trouble is a lot of the young ones won't live in a house that is not up to the standards that they see on the home improvement shows on TV. We raised our kids from birth until school age in a run down small cottage and saved to build a new house with no debt. It is amazing what replacing a few stumps and levelling and a fresh coat of paint will do.

Ken
PS, our cottage was not liveable but we made it liveable with our own labour.

 

[Brute 23]

Patch it until they can afford to build new.

It's amazing how well these well these new houses are insulated. The newer style and energy savings is a big winner IMO.

 

[TCRanch]

When we bought the ranch, we considered fixing up the existing house as more of a guest house (we still planned to build a .25 mile north) but discovered it was now considered in a flood plane, had too many code violations and would have essentially had to gut it down to the studs. Ended up dozing & burying it.

That said, agree that supply & even labor will be a challenge, but that applies for fixing or building new.

 

[Ouachita]

Look in the attic for cool stuff like lizard and pigeon skeletons before demolition.

 

[dave_shelby]

I've got an old house built in 1896. Its a balloon frame but corners are all post and beam. Its got some termite damage but the foundation is reasonably decent.

Every change or repair takes multiples of a modern equivalent. Doors are nonstandard sizes, nothing is square and every time you get into something its problems. Might be rot, termite damage, non standard framing, odd wiring, or jerry rig previous repairs. I've gutted and redone two houses without much fuss but this is another thing altogether.

The other factor here is material and particularly labor now. I think both will come down with the coming recession. In my case I wanted a farm and the house had to do. I repair as I have time and money and have a place for the family to live.

 

[dave_shelby]

I've got an old house built in 1896. Its a balloon frame but corners are all post and beam. Its got some termite damage but the foundation is reasonably decent.

Every change or repair takes multiples of a modern equivalent. Doors are nonstandard sizes, nothing is square and every time you get into something its problems. Might be rot, termite damage, non standard framing, odd wiring, or jerry rig previous repairs. I've gutted and redone two houses without much fuss but this is another thing altogether.

The other factor here is material and particularly labor now. I think both will come down with the coming recession. In my case I wanted a farm and the house had to do. I repair as I have time and money and have a place for the family to live. If your kids are contracting work out that might not work as well

 

[kickinbull]

Thanks for your responses.

 

[Mrcopier]

I'd go new. At that point when they move in they are at ground zero. No repairs. The older houses seem to be a never ending money pit. My opinion

 

[Lucky]

It would all depend on the depth of the remodel. Old houses are awsome when done right but can turn into a money pit.

 

[Farmerjon]

As one of my past students father in law told him, if it is a turd, you polish it, you only end up with a polished turd. They tore down the old farmhouse and built new. They are more than satisfied as they also saw more problems while tearing down that they wouldn't have known about.

 

[CowboyRam]

Without seeing what you are starting with it is really hard to give good sound advice. If there is something worth saving then fix it, but if not it may be less expensive in the long run to build new.

Dad got into a remodel where it would have been cheaper to tear down and build new, but they said it was the heritage of the ranch, so they fixed the old house. They spent way more to fix the heritage, but that is what they wanted. If you have enough money you can fix anything.

 

[Lee VanRoss]

Can you remember whether it was George Washington or Elvis who stayed there?

 

[Hogfarmer10]

Friend of mine inherited his childhood home. Typical small farmhouse built early 40's. He lived in it for a while but the house was really starting to show its age. Debated remodeling and updating vs replacement. Next thing I know, his yard is full of those little "pods" that they bring out on a roll-off truck, all his belongings were put into the pods,then he went on a 2 week cruise. During those 2 weeks, his house was demolished, and a 2 story pre fab home was hauled in and assembled in the exact same spot as the first house, utilizing the same footprint, same driveway, same utility lines, everything. Pretty neat way to do it. All he had to do was get his belongings moved back into the new house when he got home.

 

[greybeard]

Them dang pods ain't cheap either. I looked into them when I moved 300 miles.

 

[mickroos65]

Friend of mine inherited his childhood home. Typical small farmhouse built early 40's. He lived in it for a while but the house was really starting to show its age. Debated remodeling and updating vs replacement. Next thing I know, his yard is full of those little "pods" that they bring out on a roll-off truck, all his belongings were put into the pods,then he went on a 2 week cruise. During those 2 weeks, his house was demolished, and a 2 story pre fab home was hauled in and assembled in the exact same spot as the first house, utilizing the same footprint, same driveway, same utility lines, everything. Pretty neat way to do it. All he had to do was get his belongings moved back into the new house when he got home.

That's the way to go. I like it!