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Deciding whether to save very old family house

My wife and I have to make a decision soon on whether to save the nearly 200-year old house where she grew up in northern Vermont. We've done some remodeling/updating over the years, and the house itself is fundamentally solid. It's classic post and beam with ugly siding on the outside. Wiring is partially updated, plumbing needs a lot of work, weatherization needs to be completed. It's obviously going to cost a lot of money to make the house liveable.

The big issue is the dirt-floored basement and the foundation. The house is on a slope with the original stone foundation, and a stream runs through there at some seasons, esp. during the spring melt.

My main question is this: what kind of a professional should we consult on this? Any input or suggestions very welcome. I'm new to these boards and this is my first posting.


Re: Deciding whether to save very old family house

First I would consult with a structural Engineer familiar with 200 year old buildings for his in put.
Next I would check with a tax spe******t as to what tax break you have if the orginal structure is restored.
Then check with the Local or closest Historical Society or Architectural Review Board for any requirements that may be imposed on you as the owner.
Then consult with an Architect with knowledge on restoring structures in the same age group.
Than the cost of required restoration.
Thaen a realtor for the value after repairs are completed.

Re: Deciding whether to save very old family house

What Clarence said plus;

Take whatever repair numbers you arrive at then double them. Take whatever repair time you arrive at and quadruple it.

Before you do anything, ask yourself a VERY serious question; What is this house worth to me? Per year, per month, when its finished... While there may be sentimental value, there is economics to consider. It may be better to sell the house to someone who will dump a lot of money into fixing it up. Maybe not. That's your call.

Re: Deciding whether to save very old family house

Keeping and remodeling an old house, whether yours from the start or inherited, is always a question of balance between emotions/feelings and hard cash. Only you can decide.

To me, this house looks like a money pit, where you can dump tons of good money with no or small return. You will need the help of sub contractors - and that's where the problem is. Sell it as is.

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