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Restoring vs. Stripping material and rebuilding on an old home

Posted on 2/27/17 at 7:45 am
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 7:45 am
There is an old plantation home (circa late 1800's) on the front side of some of my hunting property in Mississippi that I want retire in. It bigger than I need for sure, 2 story probably 3-4k sq ft and I can't even imagine how much work it needs, as it's been uninhabited for years. But it does have a bunch of of good reclaim-able material in it. I'd say it's still in good enough shape, you could revive it, but I would rather tear it down and build something smaller and more suited for me using most of the material I reclaim from the original house.

Has anyone here ever done that, and would it save me money, since I already have a lot of materials, or be more costly because I have to demo the home first.
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 7:51 am to
In my experience dealing with older commercial properties, renovation/restoration is cheaper overall, but can be a real pain in the arse.

Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 7:55 am to
I'm just thinking about electrical and plumbing. I mean it seems it would have to be totally redone.
Posted by TheFonz
Somewhere in Louisiana
Member since Jul 2016
20381 posts
Posted on 2/27/17 at 7:59 am to
How long do you have until you retire?

A friend of mine from church had an old house circa 1880's that was in pretty rough shape on his acreage in Mississippi. He took his time - about ten years - to work on restoring it, doing things as he could afford it. It turned out beautiful and it is his retirement home. He pretty much opened up the entire second floor and made it a man cave with pool table, big tv, bar, etc. It's awesome.
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 8:00 am to
Unless it has been renovated fairly recently, you will likely have to completely rebuild electrical, plumbing, and mechanical. Nothing will be up to current code or even what you would want in a modern residence. Windows are probably in a similar state... the old ones look fantastic, but they are likely single pane with almost no insulation value. The exterior walls (unless they are brick) might have very little in the ways of insulation, so you'll end up ripping out the inside to insulate, when you install new windows and redo the electrical wiring.

All that said, you'll have to be a LOT more hands on with what you want to salvage vs. demo, and you'll want a contractor with experience working on restoration projects. It'll still be cheaper likely than demo and rebuild, if you have the time to spend getting hand on with the project.
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 8:06 am to
I'd like to retire in 10 years, I wouldn't mind having this place restored to use as a camp in 2 to 3 years. If you had to estimate for restoration, including complete electrical, plumbing, mechanical, Windows and some exterior work, what would you estimate costs at?

Could I get away with the 200k range?
Posted by lsu xman
Member since Oct 2006
15551 posts
Posted on 2/27/17 at 8:10 am to
200K renovation budget!?

A lot can be done with that budget.
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 8:15 am to
quote:

Could I get away with the 200k range?


Probably so.

Even if it's on the high side and closer to 4K square feet, that's $50/ft which seems doable.

How much do you expect to modify the floor plan?
Posted by LSUTigersVCURams
Member since Jul 2014
21940 posts
Posted on 2/27/17 at 8:15 am to
quote:

There is an old plantation home (circa late 1800's) on the front side of some of my hunting property in Mississippi that I want retire in.


Sounds awesome, but if it's late 1800s it's not a plantation house.
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 8:21 am to
quote:

How much do you expect to modify the floor plan?



I havent been throughout the house, but i probably wouldnt modify, i just wouldnt have use for a good portion of it. If I did do a full restore, i would probably consider booking 3 or 4 weddings a year because the grounds have some sweeping live oaks and it would make a good venue. Im just scared, its going to need a lot of work, and being the size it is, i didnt think 200k would touch it.

quote:

Sounds awesome, but if it's late 1800s it's not a plantation house.



I say that because it has a plantation house look with the 100 year old oaks and the front porch with big columns. It may be older, i was just guessing.
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 8:24 am to
I think that's a doable budget if you aren't going to modify the plan much. If you start gutting the interior and completely changing it up, you'll likely run through that pretty quickly, even if you do a lot of the demo work yourself.

Also depends on how much exterior work is needed. A new roof could tear a huge chunk out of that budget.

Plenty of unknowns on the inside as well... you might want to start tearing out some of the wall sheathing, especially around doors and windows and check for rot. If you have rotting wall framing, you are definitely going to need more money.
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 8:28 am to
appreciate the feedback. I guess i need to load up the ol' .22 and try to walk through it soon. I'll be honest, looking at it, i might be more scared of the supernatural than the natural critter in it.


As my granny would have said, " that house has got the haints"
Posted by lsu xman
Member since Oct 2006
15551 posts
Posted on 2/27/17 at 8:31 am to
I just googled renovating plantation home in Mississippi and a bunch of hits came up.

That's a huge arse project.
Posted by RhodeDawg
Delete my account
Member since Jun 2016
4450 posts
Posted on 2/27/17 at 8:31 am to
Renovations can be challenging, but new construction can be a pain too.

As someone with significant building experience my advice would be that you need some passion for the restoration. If you have at least a little passion for the historical restoration I'd say go for it.

Without that commitment it might be too frustrating.
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 8:36 am to
quote:

Renovations can be challenging, but new construction can be a pain too.

As someone with significant building experience my advice would be that you need some passion for the restoration. If you have at least a little passion for the historical restoration I'd say go for it.

Without that commitment it might be too frustrating


Thanks for your input- I have some passion, and would be able to spend a good portion of the time near the project. Its more monetary than passion, at this point I really dont want to invest more than 300k, and i know that while i can be on site during the process, im definitely going to have to hire a General Contractor
This post was edited on 2/27/17 at 8:36 am
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 8:38 am to
Yeah, you'll have to hire a general, especially for the MEP stuff, but you can do a lot of demo work and material stripping yourself to save some money.
Posted by BourreTheDog
Member since May 2016
2339 posts
Posted on 2/27/17 at 8:48 am to
Do yourself a favor and take an afternoon or 2 and research the history of the property. If it's as dated as you say, there's a ton of grant money and tax incentives available. Newspapers on film at libraries, title history, family photo albums should give you a start.

If it pre dates the Civil War, you're going to run into problems w/ historical societies if you want to demo and rebuild. And whatever you do, don't demo w/o checking 1st. Fines are scary large.
Posted by Rover Range
Member since Jun 2014
2768 posts
Posted on 2/27/17 at 8:50 am to
Thank you! I have heard about grants and tax credits for restoring historical houses in cities. This one is rural, so I assume you get state funding, but lose out on some because it's not within a city?
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101919 posts
Posted on 2/27/17 at 8:52 am to
Yeah, that's a good point. Call the state office of historic preservation.

There very well might be grant money available and tax credits.

They will also likely have some say in what you can/can't do to the exterior. Generally they don't care nearly as much about the interior of the house. At least in Louisiana.
Posted by RhodeDawg
Delete my account
Member since Jun 2016
4450 posts
Posted on 2/27/17 at 9:30 am to
Check out the reality TV show the "Beekman Boys."

I'm not trying to be funny, nor am I interested in a conversation about homosexuality, however, they basically did what I'm hearing you say you're interested in.

They happen to be 2 gay guys and if that part doesn't bother you too much they are 2 guys that bought a nice, historic property in upstate New York and turned it into a venue for hire.

I think you'd benefit from watching it before making big decisions.
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