My belief in the super-natural is very limited. I believe in angels and I believe Satan exists. Based on the text in Luke 16, I believe that those who slipped their mortal coil have very limited to no ability to communicate with us. I also have a (mostly) clear conscience so even if haints are a thing, they would have issues getting much traction.
But I do believe in a different kind of ghost. I believe that we leave our imprint on everything we touch. People who own and live in a house stamp the house with their personality. The older the house, the more imprints.
Some houses are Instagram, ginger-bread perfect. Their owners are meticulous, are attentive to aesthetics and clearly invest resources in keeping their finger on the pulse of what is fashionable.
Other houses have more of the "Use it up, wear it out, make it do or do without" vibe. That doesn't mean that the houses are shabby, but floor coverings and paint are renewed after they are worn out and not because the "Color palette is dated". I would like to think that our house falls into this category.
Another kind of house is the "All hat and no cows" statement. Lots of square-feet under roof, including various outbuildings. Like Banana Republic, tin-pot dictators' public-works, the footprint vastly overshot the budget available for maintenance.
The final kind of house I want to mention is perhaps the saddest of all. It is the house of broken dreams. It is usually an older house. A young couple stretches to buy it, thinking they found a bargain. And then they discover it is a ticking time-bomb of deferred maintenance: Old plumbing, obsolete mechanical systems with no parts support, bubble-gum and scotch-tape repairs from generations of previous, overly-optimistic owners.
The house of broken dreams breaks the backs of each owner in their own turn. Some divorce because of the stress and neither cannot afford it. Others add more toothpaste fixes to the plaster and lamp-cord electrical wiring and other ad-hoc "fixes" before they dump the property on the next set of dreamers.
The only happy endings for the house of broken dreams is if the new owners had the foresight to have budget to catch-up on the worst of the deferred maintenance. You can call me a liar, but that might be as much as 20%-to-40% of the sale price. Or, if they recognize what they got themselves into, live well below their "means" and slowly, hand-over-hand invest in the property to get it back up to snuff. Many times, that involves an interim fix to buy a few more years and then a "good" fix to actually correct all of the deeply layered ugliness.
Bought a fixer-upper in '12. I knew it was rough, but I knew I could do it all over time. We were downsizing. New tin roof immediately, slipped a disk doing it. Not much help until the last few big panels. 1100 sq feet, with a fairly steep pitch for down here. Next was total electrical, then replace the gas line. Then a bathroom remodel. Then windows, then.... the big D, and I sold it off. What an accurate post, ERJ. Very good info here.
ReplyDeleteVery accurate description. My partner and I just finished stripping down a 1200 sqft house down to the studs,new insulation, drywall,paint, electrical, ,plumbing, kitchen cabinets… everything.
ReplyDeleteIf a person doesn’t have the skills, and willingness to do their own work it’s almost impossible. Between trying to get contractors to show up and their cost it really does become the house of broken dreams.
"If a person doesn’t have the skills, and willingness to do their own work it’s almost impossible.' Very true Mike. Add to that the time to invest in it.
DeleteOver the years, I have become self aware enough tor realize that my reconstruction skills beyond simple repairs are slim and none.
What was that movie from the 80s w/ Tom Hanks? Money Pit? Should be required viewing for all soon-to-be homeowners.
ReplyDelete"Two weeks, two weeks."
DeleteA couple of my acquaintance encountered one of these "dream house deals" a few years ago. They were fortunate that the wife's father owned a construction company and was available to perform the home inspection, which lasted over 8 hours.
ReplyDeleteWhen the "fix it up" costs were tallied - which included a large number of - "make it legally code compliant" items - it was apparent that the only item of real value was the lot. They reduced their offer to that figure, minus the cost of demolition and hauling away, whch was immediately rejected.
Since the post-inspection negotiations included detailed review of the inspection results by both parties, it constituted legal awareness of defects on the part of the seller, which the seller in that state is legally required to reveal.
Unfortunately for the the final "lucky" purchasers, that step was omitted, and as a result, they have become embroiled in a lawsuit with the seller. The point here is awareness of asking the simple question - in writing and with a written response signed by the legally responsible grownups - "what defects or inadequacies, both functional and legal, or conditions potentially requiring correction, exist in the property?"
If the response comes back as "none" or anything close to it run away fast because there are always some, and "none" or close to it indicates either willful concealment or supreme ignorance in the part of the seller.
Similarly, I'd suggest that simultaneously with contacting a realtor in the house search process a prospective customer should contact and interview licensed home inspectors completely independent of any suggestions or recommendations from a realtor on either side of the transaction; this may involve additional expense, potentially substantial expense, if the inspector must come from well outside the local realtors' "sphere of influence." A typical 3-hour home inspection conducted by someone who is dependent upon recommendations from local realtors for his (or her) livilihood should be regarded as potentially suspect at the very least. An additional several hundred, or more, dollars for a highly competent out-of-area inspector, and possibly, testing requiring multiple days to complete, is a pittance against the total mortgage-length cost of the transaction.
After 50 years in the business and handling thousands of transactions I can say you did a most excellent summation. ---ken
ReplyDeleteI took on a 100 yr old house total remodel 12 years ago. We bought the house during the garage sale the previous owners were having because they had already moved to a new place. The key in my estimation is a good foundation which in turn results in a straight roof line. Everything else is just like starting from scratch, albeit hauling 50 some dump truck loads of plaster and lathe out. While completely redoing the existing 1,200 sq ft, I also added 920 new construction to include everything a century old house lacked, like a laundry room, two large bathrooms plus code compliant stairs to a second floor suite which was previously just an attic. I constructed a large dormer on my driveway and lifted it in place with my old polecat utility truck. I previously had my own construction company which specialized in projects nobody else wanted or were afraid to tackle. I did most of the work myself which cut down on labor costs, while working a 40 hour a week semiretirement job.
ReplyDeleteThis is probably not the route most would take, it was just the one I did. It was a 10 year quest, but I’m in the finishing up stages now. I recently turned 66, so I might be slowing down a bit.
Buy as low as possible, do as much of the work as you can yourself, and stay on task while not getting overwhelmed. F. Hubert
First house I bought stood because the termites were holding hands. Fixed "That Damn House" as my girl friend at the time called it. Every Saturday I would spend $200 at Home Depot and fix something. I was 26, single and learned a lot. What bothers me is the industry of real estate investment seminars. There are sharks waiting to enable someone to become a "house flipper" just like on TV. House flipping is a great way to die young if you are not an experienced contractor. Or, they are ready to sell you a house they have made minimal repairs of the scotch tape variety and they have an appraisal that does not take into account the crack house or house of prostitution across and down the street. You will never get a decent tenant.
ReplyDeleteThe paint job done without prep only lasts a month past closing. Roger
On my - praying HH and SB recent purchase is not in the last category...
ReplyDelete-RB in flyover country
They are finding surprises but both of them are problem-solvers, HH works in the construction trades so he has connections and both of them have lived in austere-to-very austere conditions...so those surprises will be seen as minor inconveniences in a couple of years.
DeleteI remember learning what old iron pipe did to Delta faucets. The metal flakes would shred the O rings in a month. Got angry on a Friday afternoon, bought parts and worked all night. Didn't finish. Took a shower in the back yard connected to the meter with a garden hose so I could go the the game at UGA that day. Finished the job Sunday afternoon. Ah to be young and full of whatever that is.
DeleteThe "house of broken dreams" has been brought to you by Menards, Home Depot and Lowes.
ReplyDeleteOh, how I used to walk those stores and dream! But with 5 kids and a thirty year mortgage, I didn't have the money.
Now I have the money and wouldn't even consider a major remodeling. Funny, that.
I almost bought one of those, until the nosy neighbor clued me on some issues NOT discussed by the realtor. After that, every house I've bought, I used a home inspection company I trust.
ReplyDeleteYour photo product house is a stone's throw from the Governor's house. We used to see it when looking at the Christmas lights. Many of our recent governors refuse to live in the official residence because it is not opulent enough. That says a lot about our governors.
ReplyDelete