How much to rehab this 1800s farmhouse?

[Anonymous]

The $200k estimates sound the closest so far, and of course you can bet on something else being discovered and/or going wrong along the way.
- person with old house also in non-DMV LCOL area

[Anonymous]

Anonymous wrote:I must be nuts. I was thinking $500k in my head. Lol.

As someone who recently renovated an old house in a LCOL area, this is more in line with what it will probably be, depending on how nice the finishes are. You don’t save anything on raw materials in a LCOL area. Labor can be somewhat cheaper, but not as much as you think. The only thing that seemed to be substantially cheaper was custom cabinetry from a local shop. Millwork, on the other hand, was still expensive. You can save by getting mass produced mill work from a big box retailer, but if you want to have woodwork that fits with the architecture of the house, or need to match existing millwork, its pricey. Even more so if you need plasterwork. It would be shocking if there aren’t a LOT of surprises when they start opening up the walls, so even if the original estimate is in the $200-300k range, I’d be ready for 50-100% overage. Things like sistering/replacing rotten joists, jackhammering out the slab the builder originally thought could be used, etc.

[Anonymous]

Minimum 300k

[Anonymous]

We have an 1800’s farmhouse. The majority of the big renovations were done by the time we bought it. I would estimate the sellers put in about $150K, augmenting with some DIY. We’re on year 7 and have added about $100K. I estimate we’ll need another $50K to finish the exterior and finish the room above the garage. So I would say the estimates between $200-$300K are representative of a good ballpark.