Looking To Buy Old House
We are getting pretty serious about buying an old house built in 1876. I have not went and looked at the inside yet, but we have drove by and viewed the outside. Therefore, I don't really know the condition inside other than some pictures that I have seen on a reality website. I do know that it needs lots of work.
My questions are:
1. What are some main points that I should look at when really checking into this house?
2. What are somethings that are a "must do" when it comes to remodeling a house like this?
3. Can you identify some hidden cost that may escape the average buyer?
The amount of work does not scare me as I can do most of the work myself with no problems at all. I am a builder by trade and what I can't do, my good friend can. So, labor cost is basically $0.00 for this job.
Just off the top of my head I'm thinking all of the windows need to be replaced and the electrical redone. That means redoing the drywall, paint, trim and so on, but that's not a problem. I'm not really familiar with working on an old home like this so I am trying to find all the small (or big) problems that come with it.
Thanks in advance!