My Sons Rehabed Home

My son purchased a 1902 city “farm house”. It had not been maintained since the 1960s. We worked on this together in the evenings and the weekends. He slept in a 1978 RV in the driveway for 5 months while the house was gutted, jacked and leveled the floors, wired, plumbed, new heating system, insulation, structural changes, windows and doors, drywall and painting. He then moved in, slept on the floor, for another 3 months while we installed recycled flooring from a house that was going to be torn down, recycled kitchen cabinets, built our own counter tops. After the interior was completed we stripped and sold the aluminum siding and installed the siding and foundation insulation. The two of us plus his girl friend did most of the work from demolition to installation in 1 year. We contracted the heating system and the drywall installation and finishing. The home is 1400 sq.ft. 3 bedroom 1 bath kitchen living room and Library (parlor).

His budget was $25,000 and with the help of Craig’s list, careful purchasing the doors and many of the windows from the various lumber yard return areas and buying the sales he completed the project for $26,800. When the reappraisal was completed the house appraised with a $55,000 gain. ( about $28,000 in equity ). A virtually new home and a $25,000 gain in equity.

-- JS Sussex WI