Twenty-three years ago, I purchased a 120-year-old house. Solid brick! Two years ago, I finished restoring it. New floors (stump holes up) in every room. Re plumbed, re wired. Heating and A/C installed. New kitchen. New bathroom. Extensive masonry repairs and extensive hard plaster repairs. Ceilings replaced. Roof repairs and painted inside and out. Oh, I almost forgot. A heck of a lot of work out in the yard, too. My wife and I both love the place, and if we were to sell, we'd make a fortune, but I wouldn't wish our journey on my worst enemy. NEVER AGAIN!
Years ago, I listened to the late, great Bruce Williams, a radio personality whose career spanned decades. One of the things I remember him vividly saying to his audience, "NEVER, fall in love with something that doesn't love you back." Great advice.
I am a master licensed HVAC Contractor in multiple states. We did this exact thing while my wife was expecting. Go buy a new house and you will be ahead by a boat load of money.
Yeah, but that’s expecting women to have logic, which they don’t. I also lost 90 grand when my wife insisted that we buy a stupid house. And then she wants to sell it next week 😂
@@charlesg7926 my wife fell in love with a 100 year old fixer upper. We fixed it up. Dug a crawl space, all new electric, new HVAC. Thankfully it sold for more than we had into it. It was my stupid idea to begin with, then she took it and ran! She actually wanted to but a new house which still would have netted us a ton of money the way things went. I talked her into the fixer upper. I saw the one she fell in love with and my stomach turned, it was a complete gut job. The funny thing is the people we sold it to in 2021 ended up hurting all the new stuff we put in and completely removed all the hardwood cabinets and hardwood flooring we had just put in. People are funny.
They’re one of those below-avg-IQ people, that think they know everything when they don’t. As a successful/big contractor w/ a 147 IQ, I deal with them every day lol 😅
Plus a 2nd mortgage for half of what it's going to cost lacking the skills to tackle more than a paintbrush. She was looking for a pat on the back, sure sink your finances that's a great idea 💡 👍
I’m a 62 year old handyman that has been involved with remodeling/home reno all my life. Dave was spot on with his advice on this one. She doesn’t know what she doesn’t know about the process and they are out of their depth, both experience-wise, stage of life and financially. I am genuinely worried for them. It would do my heart good to hear that they walked away.
And if not literally, figuratively since she already seems to have made up her mind and called in to get affirmation, not have him tell her to walk/run away. The money pit is the perfect movie for people to watch that are considering this kind of project.
The real problem is old houses have LEAD in the paint and plaster. Lead is not that dangerous to adults (not what they say) but effects brain development in children and a new born living in a rehab with lead around will effect the child.
Just had to buy three doors at Home Depot yesterday, one of the doors was for a small closet so less expensive but they were $130 a pop. Not including the trimming, painting, installation oh and let’s not forget what a headache it is just to go purchase in the first place and transport over to your home. The majority of work, if not all, will fall on the husband and she will resent him for not helping her with the new baby. This is a terrible idea.
She didn't say what her husband does for a living, or if she is going back to work after the birth. It might be a really hard lesson for them. She was not receptive to Dave at all.
I know all about getting stuff from Home Depot…….sure is no joy ride. Everything adds up so fast there and it is a pain transporting stuff when you don’t have right vehicle for it either.
@@elizabethblane201 Having a vulnerable new born inside a 1900s home currently under renovation? So toxic for the baby the callers ignorance is disgusting
Yeah I couldn’t imagine doing this as a first home. All because she thinks it’s cute on the outside. She doesn’t even know who to hire to lead this project
Cindy, Cindy. Listen! I grew up in major renovations including one being a 1800s farm house. It’s a miracle my parents didn’t divorce! And we (me and sister) were teenagers. Not an infant. And my Dad is pretty good at house stuff but my parents inspired me to buy a little condo. lol
Enjoy the baby. Wait a few years. Sounds like a lot to do all at once. Sounds like they have a nice nest egg for starting a family. Hate for them to lose it on a historic rehab.
As someone who's been in construction off and on my whole life Dave is a 110% right on his advice this is a disaster waiting to happen especially for someone being an amateur remodeler with apparently very little experience it's a massive undertaking and a money pit and will lead to nothing but disaster, and yes it would be a lot cheaper to build from the ground up, this young lady is once again caught up in a fantasy and are not looking at real world consequences
Let's not forget the baby:. Precious and sweet but the parents will be sleep deprived. Also, stop calling Dave if you've made up your mind. It just frustrates all of us.
A coworker and his husband bought a gorgeous Victorian mansion in a historical section of town. It was the classic money pit! There was always something that went wrong. They finally sold the house and bought a brand-new 3-bedroom condo and are much happier, not to mention wealthier.
We are replacing a cast iron main sewer line in our home. It's $17k, just for that. She mentioned that plus a lot of other things. I would run for the hills.
_The Money Pit_ is a classic comedy about old home renovation and the stress it puts on a couple. I pray Cindy watches it because the real deal won’t be a comedy but a tragedy.
That's a money pit. I bought a much newer home and spent a significant amount of money updating it. She's looking at at least a million dollars worth of work!
She sounds like me 😅 4 years ago I fell in love with a fixer upper Victorian. I was willing to do anything. I was so attached, I wanted that house. But after an awful inspection....I still wanted it!! 😅 Thankfully my husband talked some sense into me. it was tough though. We were broke anyways lol
There was a home in my town that was considered a “historical site” but it was falling in and abandoned for years. If someone bought the home the new owners would have to fix it up to the historical standards of the home, like everything old fashioned. No one was dumb enough to do that. The owner decided to burn it down lol. The problem is now gone and the clear lot was sold.
"This Old House" show makes it look simple but leaves out all the detail, time to repair, and vast amount of money it takes to bring a tear down up to code.
Dave is spot on. We've built homes, repaired many homes and rebuilt a couple. The most difficult was a 120 y.o. house and that was one long year followed by other projects. PASS and nest for your baby!
I bought an old Victorian house and it was a disaster, it was really badly built and cost a fortune to heat and repair. Never again, the houses we have bought since have been less than 30 years old or new!
I really hope she doesn't buy this property. Buying a property and slowly making it liveable is a terrible idea. She's going to realize very early with her new baby that she's not going to have the time to do any repairs herself. Then she's going to have to hire contractors and she's going to spend far more than they originally planned to.
@@Feliciations Yep that’s one way to ruin your life 😂 buy a hazardous house with a newborn hope she knows babies don’t sleep at night expect a lot of sleepless nights 🤣
I grew up scraping wallpaper off plaster walls, having parts of the house shut off, listening to my parents stress over the ‘next’ thing that required attention and trying to avoid whatever chaos was in play. It’s insanely stressful living in a remodel project, even as a child. Edit to add: this was a house built in the 1840s and was just gorgeous when it was finished, only for my dad’s job to move us across the ocean. Thirty years later, and my mom is still sad she had to leave that house and all the emotion, sweat and tears that went into it.
I don't blame her. That was probably the only reason she agreed to go through all that, to finally get to enjoy the end results. And she didn't get to. Her part of the investment did not pay off.
To this young lady, please don't forget this. Even the strongest marriages don't survive this. You are starting a marriage...this will destroy it, unless you are financially able to do this.
Yeah, I agree. I bought my grandparents' home from my uncles who didn't do an ounce of maintenance on it for over 20 years. MONEY PIT! Lost everything. Never again.
i remodeled a home for my family. I assumed it would cost 50k. after we opened a wall things started to fall apart and we realized 50k wouldn’t be enough. It ended up costing us 100k for a full renovation. We had cash for this but trust me it’s never what you expect.
Yep, we did a major remodel on our current home, estimate was $40k, I was prepared for it to be $80k, and it ended up being $96k. And that was with my father-in-law spending a ton of his time/effort spearheading the project and doing a decent amount of labor. I have a great father-in-law btw.
When I bought my first house, my realtor actually talked use out of a deal like this at the time. I was really frustrated with him, but in Hine sight, I'm glad he did, and we ended up buying a fixer that was a cosmetic fixer I'm experienced in remodels as a contractor
Solid SOLID advise. Let's pray she understands this. I've been there with houses, cars, and boats. Probably worked for less than a dollar an hours all told.
First off, she hasn’t owned a house. Even newer houses require a lot of repairs. Things wear out. I have a house built in 1985. I’ve replaced the hvac, flooring, replaced the wood stove with a new pellet stove and replaced all appliances. And that’s just on a 38 year old home. Imagine a 100 year old home. You would have to start from the foundation replacing until you’ve built a new home. Actually, I grew up in an old Victorian. Their cold in the winter. The foundation was just large rocks stacked on each other.
I absolutely love old Victorian/Baroque era houses. They look amazing and it makes you feel like you live way back in time. I would honestly build a house from scratch to look like one of those homes. It would be a brand new house, way easier project than Cindy wants to do and it would not be such a headache while pregnant and with a newborn. I really hope she reconsiders!
A new house could have the appearance of vintage one, but it will not have the sturdiness. Is lumber available in the same sizes as it was back then? I suspect not. Better to find another vintage house that is move-in ready for a more reasonable price.
As I finish the basement in my much more modern 20-year old house, I can see how such projects can escalate. Those who built my house didn't bother to prepare for a future finished basement because that would take more time and planning. Ducts have to get moved. Plumbing needs to get moved. Electrical needs to get moved. The water heater was logistically tough to work around. The cement slab needed some minor work here and there. The laundry hookups needed significant modification... the list goes on. On a 100 year old house... it is a super wild donkey guess as to what you will or will not find as you tear into it.
She should take pictures of everything she loves about that house and go to a really good builder and have a house built with as many of the decorative things copied from the pictures that she can afford to do in a safe updated building and then add the inside touches like fancy moldings and ceiling medallions etc. she can’t afford now at a later time.
I have people come to my shop all the time involving buying a car. I look at it and advise against it and in the majority of cases they buy it anyway. People are gonna do what they wanna do.
As a 60 years young woman I was literally flabbergasted to hear how this young, very young woman, soon to be a brand new first time Mama, was absolutely hellbent and leather bound to head straight into this ill advised venture! She completely ignored the best dang advice I've EVER heard in my life from a man with way more experience in life and money matters then she will ever know until she herself reaches our age! I cannot believe how very determined she was to just continue on with her idiotic idea! Someone (sadly from our generation) forgot to teach this new generation to respect the wisdom that comes with our generation of age! She never intended to seek actual financial advice! She wanted validation for being wrong! WOW!!!
Alternative ... my neighbor lost his house 2002. The roof was intact, it was a modular. My girlfriend bought it. I patched the drrywall, wired fixtures, fixed plumbing, installed hardwood floors. I lived next door, she funded the house she was living in and the refurb, and my parts, and the old house until it sold 1.45 years. We would not do it again
1:39 in and this sounds like an albatross… run! It would be a nightmare in full working order. This would only be good if you filmed a TV show on how to repair it.
Take your estimated time frame and add 10 years. Take your estimated budget and multiply it by at least 10. Those old Italianate homes in Louisville are all two and three floors with steep stairs, so with a little one, you're going to have to keep baby gates up all over the place for a while. Sounds to me like she's already made an offer.
This is why her husband needs to simply step in, put his foot down, and say, "absolutely not." If she insists, he needs to step it up a notch and tell her it's either the house or the marriage but not both.
Cindy: So how long should it take to repair the foundation? Contractor: Well, we have to dig around the perimeter, insert steel beams, reinforce the existing structure, excavate the old foundation, lift the entire structure, pour new footings.....'bout.... two weeks (The Money Pit reference)
I had an old house once. Added a bathroom. To pass inspection I had to replumb the whole house and rewire the whole house. Ouch! I doubt any code enforcement would allow only half a house to be done at a time. Can’t mix old with new.
First one has to be able to afford a home comfortably. My husband says HGTV and DIY get more husbands in trouble because wives don't see the 25 guys working on the remodel during commercial breaks and editing! Budget 25%plus over for unexpected budget busters, and realize not everything has to be done at once. What a hot mess!!
When people ask for advise, but don't get the answer they want and go ahead and do what they wanted to do before asking for advise. Good luck, some things you have to learn the hard way.
It was difficult tearing down and rebuilding a 20x20 deck that needed replacing on my house. Used fake wood and it cost over 7k. It will be too expensive and with the limited money they have, they will be upside down starting at 250k. Some decisions can ruin your life.
Growing up in an old house and living in one currently I can 100 % attest to what Dave is saying. It was tough just living in an old house, can’t imagine what its like rehabing one
Ditto! It’s a labor of love. I LOVE old homes but they get expensive. Part of me wants to tell her to offer $25K and see what happens. I feel for her, my heart aches! 🥲 You know it’s such a neat house and the rose-colored glasses are on!
I hate this idea of making my home a project. Home is where I come to rest, not renovate day in day our after work. At the very least, budget for contractors.
@@gmarie3053 wow! i have never thought it that way. My wife has tons of ideas about renovating our home... i am going to show her your comment. If i don't reply with her comment.... i may be dead
These old houses almost always have major foundation issues, lead and asbestos in the walls. Look up the most to get a abatement done. You will likely have to do all new insulation. Framing is never to code for a renovation. Add in all of the other expenses they are money pit. Every bid you get will likely change as well. There are so many unseen factors until you dig into it. For a first house no thanks!
Some of these old homes have lead paint, asbestos, shock hazards, mold and various hazards that one doesn't want to face when pregnant or with a small child.
Adding to what Dave said you also do knon know how much time you will have. Hopefully everything with the baby goes good but unexpected problems happen.
Why do people ask questions when they already have their minds made up? I spent my working life as a mechanic and people would bring a used car in for an inspection prior to purchase. In most cases the vehicle would check out fairly well. In others it would be a disaster and I would explain to the customer all the issues and to avoid the car like the plague. A week later they would show up with the trash pile on wheels and say “I just fell in love and had to buy it” Some people are beyond help and there is nothing to do about it.
Part of the problem is that banks do money. They don't do real estate. It wouldn't surprise me if some banks still had foreclosures on the books from 2008.
I’m in a bit of a similar situation as, I’m probably going to inherit my mother’s house. Not only am I in probate, but she hoarder it. There’s no heat and power to work. Probate is dragging on. I’m shopping for a propane or kerosene heater. Has a new roof. But, I can see that squirrels got into one part. Because of the hoard, I already expect surprises. But, the home is my shortest path, at my age (late 50s), to finally get out of my 500 sq ft apartment, where the rents are starting to skyrocket, and into a 1,500 sq ft house, with a yard and garage and no HOA. This house has some back taxes owed, but there’s no mortgage. I have a relative that just says to dump it, get what I can out of the sale and pay down on a house. But, I have suspicions of losing my job. Side note that, as a prepper, I’m looking to see how I can finally live on solar and at least some rain water. Because where things are going, globally, is no joke!
Dave is right. We owned one of these as our first house!! Built in 1894. EVERYTHING needed to be replaced and a room attached back onto the house. Oh, and the basement walls were crumbling... 😆
I looked at a for sale by owner house a few years ago. Was anxious to do the sale/buy. Then the inspector looked at it. I realized before he finished looking at the basement (where he started) that it was a no-go. I would have spent more than the sale cost of the house just to get it to pass inspection, and that was based only on the stuff he found. I ate the $615 inspection cost and told the owner Sorry but I can't go forward.
My mom's house is not that old, about 45 years old by now. Few years ago the door knob and lock on the bathroom door worn out and finally broke. Found none of the ones on shelves in hardware stores match the housing holes in the door. Some of the parts of the modern door knob and locks are same or similar to I bought one set and took it apart and use those parts to substitutes in the broken bits in the old lock. Not perfect but it opens, close and locks again. Anyway, moral of the story is with older houses, parts and designs may not be compatible with modern standard sets. Prepare to replace whole thing or order custom made stuff for bits no longer being manufactured.
Not to mention shims all over the original framing so there is a level plain to install drywall onto. OMG, please I hope they don’t do this. I’m experienced and there is no way I would do this unless I could commit full time hours to see the project through, have cash to buy upfront and cash enough to see the rest through to the end. Probably 400k+ and thats if everything was DIY…
Yes Dave you can patch plaster. My stepdad was a stucco contractor. There's a lot of old houses in LA and he used too patched ceilings that had rain damage all of the time. He could blend the patch so well that you couldn't see them. The problem is that plaster is a lost art because of sheet rock
I was thinking the same thing, that plaster certainly can be patched. The problem is finding someone that knows how to do it. Like you said, it's a lost art. John and Jane Homeowner aren't going to figure it out reading a DIY book and watching videos.
Patching the wall is a minor task compared to what she is facing, you don't patch other things like plumbing, electric, tearouts, roofing do I need to go on
Many years ago I read a book called "The System: The Dating Dictionary." In it, the author discussed the dangers of marrying someone like this - someone who only sees the kitschy charm of a house while ignoring the practical red flags, the massive financial burden, and the immense human effort required to make her dreams come true. The lesson to single people is this: If your significant other talks like this person, run in the complete opposite direction of the altar.
Twenty-three years ago, I purchased a 120-year-old house. Solid brick! Two years ago, I finished restoring it. New floors (stump holes up) in every room. Re plumbed, re wired. Heating and A/C installed. New kitchen. New bathroom. Extensive masonry repairs and extensive hard plaster repairs. Ceilings replaced. Roof repairs and painted inside and out. Oh, I almost forgot. A heck of a lot of work out in the yard, too.
My wife and I both love the place, and if we were to sell, we'd make a fortune, but I wouldn't wish our journey on my worst enemy. NEVER AGAIN!
Plot twist: Cindy already bought the house and regrets it. Now she is trying to have Dave tell her that she made a good decision.
I think you nailed it right there.
Lol
😂
This is exactly it.
I think that you are 100% right
That’s the problem with these HGTV renovation shows. They make a long costly project look fun and easier to do than it actually is.
This woman doesn't listen, she's fixated. Let her learn the hard way.
She absolutely paid $250k for it 15 mins after this call.
Lol- I’m
Abt to die! Yep
Caller: should we do this?
Dave: don't do it
Caller: so here's how we want to do it
Lol
😂😂😂
Aaaaand fade out to break music LOL
That's what I heard. 🤣
😅
Years ago, I listened to the late, great Bruce Williams, a radio personality whose career spanned decades. One of the things I remember him vividly saying to his audience, "NEVER, fall in love with something that doesn't love you back." Great advice.
Six months from now: “Dave, we bought an old fixer-upper home, and it has turned into a nightmare …”
Yup
The nightmares that truly terrify never start out that way. Its the transition from paradise to abject horror that that makes the biggest impact.
🤣🤣🤣
Yup
She's probably already bought the house, has come to realize her work is cut out for her and wants rational advice.
"They don't build them like they used to... thank God!" 😂
Dave's got good comedic timing
I am a master licensed HVAC Contractor in multiple states. We did this exact thing while my wife was expecting. Go buy a new house and you will be ahead by a boat load of money.
Yeah, but that’s expecting women to have logic, which they don’t. I also lost 90 grand when my wife insisted that we buy a stupid house. And then she wants to sell it next week 😂
@@charlesg7926 my wife fell in love with a 100 year old fixer upper. We fixed it up. Dug a crawl space, all new electric, new HVAC. Thankfully it sold for more than we had into it. It was my stupid idea to begin with, then she took it and ran! She actually wanted to but a new house which still would have netted us a ton of money the way things went. I talked her into the fixer upper. I saw the one she fell in love with and my stomach turned, it was a complete gut job. The funny thing is the people we sold it to in 2021 ended up hurting all the new stuff we put in and completely removed all the hardwood cabinets and hardwood flooring we had just put in. People are funny.
Except you need a boat load of money to do the repairs!
Never fall in love with the deal……..be wise and negotiate! 😂
N ECOUTER PAS TROP c est mauvais pour la santé du bébé st la maman
UN ENFANT est née un AVENIR en PLUS . Voire POSITIVEMENT
That house sounds like a multimillionaire's hobby, not a starter home.
Even a multimillionaire won’t do it.
I’ve worked on multi-million dollar remodels. Dave is ABSOLUTELY correct on the magnitude of the money pit impacts.
True and some are historic which makes it even harder.
They’re one of those below-avg-IQ people, that think they know everything when they don’t. As a successful/big contractor w/ a 147 IQ, I deal with them every day lol 😅
Yep, she's going to buy the house. Probably already has it under contract.
Already bought it I’d bet
Plus a 2nd mortgage for half of what it's going to cost lacking the skills to tackle more than a paintbrush. She was looking for a pat on the back, sure sink your finances that's a great idea 💡 👍
I’m a 62 year old handyman that has been involved with remodeling/home reno all my life. Dave was spot on with his advice on this one. She doesn’t know what she doesn’t know about the process and they are out of their depth, both experience-wise, stage of life and financially. I am genuinely worried for them. It would do my heart good to hear that they walked away.
She's going to buy the house.
@@kimberlygorgoglione9237 Yepp. And will call months from now asking for advice on disentangling herself from this 🤦🏽♀️
There is no they in situations like this most men cave and give full control over whatever house the woman wants
The fact that she referenced the cast iron plumbing as 'those old black pipes" tells me she doesn't know that much about construction.
🤣🤣🤣🤣🤣
She handy
@@nailatiylluf my husband thinks he's hand. He's not. I think I can build and do things, I can't either.
I like to imagine Cindy is calling from inside the House, the day after purchasing, listening to Dave 😂
And if not literally, figuratively since she already seems to have made up her mind and called in to get affirmation, not have him tell her to walk/run away. The money pit is the perfect movie for people to watch that are considering this kind of project.
😂😂right!
The real problem is old houses have LEAD in the paint and plaster. Lead is not that dangerous to adults (not what they say) but effects brain development in children and a new born living in a rehab with lead around will effect the child.
This phone call could have just save their lives if she actually listens to him.
Just had to buy three doors at Home Depot yesterday, one of the doors was for a small closet so less expensive but they were $130 a pop. Not including the trimming, painting, installation oh and let’s not forget what a headache it is just to go purchase in the first place and transport over to your home. The majority of work, if not all, will fall on the husband and she will resent him for not helping her with the new baby. This is a terrible idea.
She didn't say what her husband does for a living, or if she is going back to work after the birth. It might be a really hard lesson for them. She was not receptive to Dave at all.
I know all about getting stuff from Home Depot…….sure is no joy ride. Everything adds up so fast there and it is a pain transporting stuff when you don’t have right vehicle for it either.
@@elizabethblane201 Having a vulnerable new born inside a 1900s home currently under renovation? So toxic for the baby the callers ignorance is disgusting
New roof. New windows. New kitchen. New baths. New HVAC. New water heater. New landscaping. New brickwork. New furniture. This woman is CRAZY!!
I'm listening like if this lady doesn't go and find a house that's FIXED she better! LOL
With all of that "new" that the house needs, they should have bought or built a "new" house.
@@sharondadottery6551 depends on the area.
She's not a contractor. She shouldn't try it.
Yeah I couldn’t imagine doing this as a first home. All because she thinks it’s cute on the outside. She doesn’t even know who to hire to lead this project
Cindy, Cindy. Listen! I grew up in major renovations including one being a 1800s farm house. It’s a miracle my parents didn’t divorce! And we (me and sister) were teenagers. Not an infant. And my Dad is pretty good at house stuff but my parents inspired me to buy a little condo. lol
It’s so cute and gingerbready - I lost my mind 🤣🤣🤣
I have always said it would be easier to make a new house look old than bring an old house up to new standards.
I agree with this 🎉 there’s so many ways to make things vintage/buy vintage pieces for a modern home to give it some personality
Yes, in my opinion, I think she get a new house and make it look vintage!
Enjoy the baby. Wait a few years. Sounds like a lot to do all at once. Sounds like they have a nice nest egg for starting a family. Hate for them to lose it on a historic rehab.
As someone who's been in construction off and on my whole life Dave is a 110% right on his advice this is a disaster waiting to happen especially for someone being an amateur remodeler with apparently very little experience it's a massive undertaking and a money pit and will lead to nothing but disaster, and yes it would be a lot cheaper to build from the ground up, this young lady is once again caught up in a fantasy and are not looking at real world consequences
“Great vision but not a great decision” - Ken Coleman
Let's not forget the baby:. Precious and sweet but the parents will be sleep deprived. Also, stop calling Dave if you've made up your mind. It just frustrates all of us.
A coworker and his husband bought a gorgeous Victorian mansion in a historical section of town. It was the classic money pit! There was always something that went wrong. They finally sold the house and bought a brand-new 3-bedroom condo and are much happier, not to mention wealthier.
His husband?? Sick!!
You know she’s going to buy this train wreck of a house!
We are replacing a cast iron main sewer line in our home. It's $17k, just for that. She mentioned that plus a lot of other things. I would run for the hills.
Right there when she said she was attached to the house that's when I said there is the problem. It's a freaking house!!!
One of the first rules in real estate - don't fall in love with a property
Don’t love anything that doesn’t have a heartbeat.
I had a friend talk me out of a similar “project” and my wife was also pregnant at the time 😂. So glad we built new!
_The Money Pit_ is a classic comedy about old home renovation and the stress it puts on a couple. I pray Cindy watches it because the real deal won’t be a comedy but a tragedy.
Yep. That movie was hilarious. But it would not be hilarious for this couple if they stupidly decide to buy this money pit.
I was looking at an older house and a real estate agent warned me about it - so I didn't buy.
Here's an IRL example of that movie it's called a Mercedes, BMW and Porsche
Good movie
I’ve been considering going the fixer-upper route and Money Pit keeps coming up. And it gets called a Documentary more than a comedy. I should watch.
she not gonna listen. She already decided to buy the house.
She told you this personally?
@@africanaissues4294 Yes we are best friends.
This lady has her priorities all wrong. That baby takes number one, not that nightmare house she thinks is her dream house.
That's a money pit. I bought a much newer home and spent a significant amount of money updating it. She's looking at at least a million dollars worth of work!
She sounds like me 😅 4 years ago I fell in love with a fixer upper Victorian. I was willing to do anything. I was so attached, I wanted that house. But after an awful inspection....I still wanted it!! 😅 Thankfully my husband talked some sense into me. it was tough though. We were broke anyways lol
Which is why men are needed, to not make big decisions based on emotions
@@perotal Please! I know somebody where it was the opposite way - the woman talked the guy out of it. Not a Victorian home but an older house.
@@HMMELD one instance out of millions where your example is typically not the case.
@@texan903 Or one in a billion - probably she's the only person in the entire world where that case applies.
There was a home in my town that was considered a “historical site” but it was falling in and abandoned for years. If someone bought the home the new owners would have to fix it up to the historical standards of the home, like everything old fashioned. No one was dumb enough to do that. The owner decided to burn it down lol. The problem is now gone and the clear lot was sold.
"This Old House" show makes it look simple but leaves out all the detail, time to repair, and vast amount of money it takes to bring a tear down up to code.
Not to mention their own personal years of experience and amassing of specialized tools that help make the project go smoother
Dave is spot on. We've built homes, repaired many homes and rebuilt a couple. The most difficult was a 120 y.o. house and that was one long year followed by other projects. PASS and nest for your baby!
You cannot save a person from themselves.
Never let emotions drive your negotiations. ALWAYS be fully ready to walk away from ANY deal.
I bought an old Victorian house and it was a disaster, it was really badly built and cost a fortune to heat and repair. Never again, the houses we have bought since have been less than 30 years old or new!
I really hope she doesn't buy this property. Buying a property and slowly making it liveable is a terrible idea. She's going to realize very early with her new baby that she's not going to have the time to do any repairs herself. Then she's going to have to hire contractors and she's going to spend far more than they originally planned to.
So what if she buys it. You think new parents can't work?
Yes and no. Not always a bad idea but $250k for what she describes sounds horrible.
Unfortunately, i think they will buy it. People call to confirm what they wanna hear, not what they need to jear
Best thing I ever did made 150k cash when I sold it!!
Money pit
Having a kid, rebuilding, and taking care of a hazardous house can make a dream into a nightmare 😂
And a divorce.
@@RearviewMirror-ij2pr yep they will divorced and be financially broken sounds like a nightmare to me 🤷♂️
Lol so true.
@@Feliciations Yep that’s one way to ruin your life 😂 buy a hazardous house with a newborn hope she knows babies don’t sleep at night expect a lot of sleepless nights 🤣
I grew up scraping wallpaper off plaster walls, having parts of the house shut off, listening to my parents stress over the ‘next’ thing that required attention and trying to avoid whatever chaos was in play. It’s insanely stressful living in a remodel project, even as a child.
Edit to add: this was a house built in the 1840s and was just gorgeous when it was finished, only for my dad’s job to move us across the ocean. Thirty years later, and my mom is still sad she had to leave that house and all the emotion, sweat and tears that went into it.
I don't blame her. That was probably the only reason she agreed to go through all that, to finally get to enjoy the end results. And she didn't get to. Her part of the investment did not pay off.
To this young lady, please don't forget this. Even the strongest marriages don't survive this. You are starting a marriage...this will destroy it, unless you are financially able to do this.
Yeah, I agree. I bought my grandparents' home from my uncles who didn't do an ounce of maintenance on it for over 20 years. MONEY PIT! Lost everything. Never again.
i remodeled a home for my family. I assumed it would cost 50k. after we opened a wall things started to fall apart and we realized 50k wouldn’t be enough. It ended up costing us 100k for a full renovation. We had cash for this but trust me it’s never what you expect.
Yep I know how house renovations work. You can never catch a break.
Yep, we did a major remodel on our current home, estimate was $40k, I was prepared for it to be $80k, and it ended up being $96k. And that was with my father-in-law spending a ton of his time/effort spearheading the project and doing a decent amount of labor. I have a great father-in-law btw.
When I bought my first house, my realtor actually talked use out of a deal like this at the time. I was really frustrated with him, but in Hine sight, I'm glad he did, and we ended up buying a fixer that was a cosmetic fixer I'm experienced in remodels as a contractor
I feel sorry for the husband.
Something tells me the husband is also her project. 😉
@@windsongshf Something tells me he wants to do it just as much. This is a folie au deux. They are both nuts.
@@jodylarson4697 The husband, however, with her pregnant, will have NO say! Guaranteed! But you may be right. He may also be nuts!
@@jodylarson4697 lol! I'm eating dinner and you made me almost spit it out! Lol! 🤣🤣
Not to mention all the hazardous chemicals, lead dust, etc!
Solid SOLID advise. Let's pray she understands this. I've been there with houses, cars, and boats. Probably worked for less than a dollar an hours all told.
I've been doin hvac and plumbing and some electrical experience for over 35 yrs, listen to this guy. Walk away!
First the deed, then the divorce.
Ouch! But likely.
First off, she hasn’t owned a house. Even newer houses require a lot of repairs. Things wear out. I have a house built in 1985. I’ve replaced the hvac, flooring, replaced the wood stove with a new pellet stove and replaced all appliances. And that’s just on a 38 year old home. Imagine a 100 year old home. You would have to start from the foundation replacing until you’ve built a new home.
Actually, I grew up in an old Victorian. Their cold in the winter. The foundation was just large rocks stacked on each other.
This may be the most real and best advice I’ve ever heard you give! Don’t walk, don’t run SPRINT away as fast as you can
Run girl run! The bank may sense how much you want it and its an emotional purchase so they don’t have to come down.
I absolutely love old Victorian/Baroque era houses. They look amazing and it makes you feel like you live way back in time. I would honestly build a house from scratch to look like one of those homes. It would be a brand new house, way easier project than Cindy wants to do and it would not be such a headache while pregnant and with a newborn. I really hope she reconsiders!
Jacqueline - She seems bent on doing it
A new house could have the appearance of vintage one, but it will not have the sturdiness. Is lumber available in the same sizes as it was back then? I suspect not. Better to find another vintage house that is move-in ready for a more reasonable price.
I work in the infrastructure world. 100 plus year old buildings are the definition of a Pandora's box.
Termites and wood rot comes to mind.
Poor woman. She's fallen in love with this house and can't see how much it's going to hurt her financial future.
I patch plaster all the time. It sucks to work with but once the section is removed it can be repaired with drywall and then mudded in.
My cousin does the same thing it looks amazing. Dave is just being Dave
As I finish the basement in my much more modern 20-year old house, I can see how such projects can escalate. Those who built my house didn't bother to prepare for a future finished basement because that would take more time and planning. Ducts have to get moved. Plumbing needs to get moved. Electrical needs to get moved. The water heater was logistically tough to work around. The cement slab needed some minor work here and there. The laundry hookups needed significant modification... the list goes on. On a 100 year old house... it is a super wild donkey guess as to what you will or will not find as you tear into it.
She should take pictures of everything she loves about that house and go to a really good builder and have a house built with as many of the decorative things copied from the pictures that she can afford to do in a safe updated building and then add the inside touches like fancy moldings and ceiling medallions etc. she can’t afford now at a later time.
My house is a little over 100 years old. The first thing I do when I work on something is throw away my levels and squares.
Here in the Bay Area, you can spend 2+ million on a 100 year old house that needs these same renovations. It’s insanity.
I have people come to my shop all the time involving buying a car. I look at it and advise against it and in the majority of cases they buy it anyway. People are gonna do what they wanna do.
As a 60 years young woman I was literally flabbergasted to hear how this young, very young woman, soon to be a brand new first time Mama, was absolutely hellbent and leather bound to head straight into this ill advised venture! She completely ignored the best dang advice I've EVER heard in my life from a man with way more experience in life and money matters then she will ever know until she herself reaches our age! I cannot believe how very determined she was to just continue on with her idiotic idea! Someone (sadly from our generation) forgot to teach this new generation to respect the wisdom that comes with our generation of age! She never intended to seek actual financial advice! She wanted validation for being wrong! WOW!!!
Alternative ... my neighbor lost his house 2002. The roof was intact, it was a modular. My girlfriend bought it. I patched the drrywall, wired fixtures, fixed plumbing, installed hardwood floors. I lived next door, she funded the house she was living in and the refurb, and my parts, and the old house until it sold 1.45 years. We would not do it again
That's a modular too which is WAY more practical than an 100+ yr old dump.
@@davidleavitt3804 Some famous rich person said ... i looked at 100 deals to find one ... i get it ... its work to get "free money"
1:39 in and this sounds like an albatross… run! It would be a nightmare in full working order. This would only be good if you filmed a TV show on how to repair it.
Take your estimated time frame and add 10 years. Take your estimated budget and multiply it by at least 10. Those old Italianate homes in Louisville are all two and three floors with steep stairs, so with a little one, you're going to have to keep baby gates up all over the place for a while. Sounds to me like she's already made an offer.
AGREE!! We bought an old victorian house 16 yrs ago... complete money pit.
She’s going to buy the property anyway. That’s why I no longer give advice anymore people are going to do what they want to do
This is why her husband needs to simply step in, put his foot down, and say, "absolutely not."
If she insists, he needs to step it up a notch and tell her it's either the house or the marriage but not both.
Cindy: So how long should it take to repair the foundation? Contractor: Well, we have to dig around the perimeter, insert steel beams, reinforce the existing structure, excavate the old foundation, lift the entire structure, pour new footings.....'bout.... two weeks (The Money Pit reference)
Two weeks! Two weeks!
Even the land underneath the house will have to be replaced, as will the foundations, and the whole planet.
I had an old house once. Added a bathroom. To pass inspection I had to replumb the whole house and rewire the whole house. Ouch! I doubt any code enforcement would allow only half a house to be done at a time. Can’t mix old with new.
Yeah I added a bedroom and had to upgrade my septic. $14,500...........
First one has to be able to afford a home comfortably. My husband says HGTV and DIY get more husbands in trouble because wives don't see the 25 guys working on the remodel during commercial breaks and editing! Budget 25%plus over for unexpected budget busters, and realize not everything has to be done at once. What a hot mess!!
People just need to quit watching those HDTV shows where a renovations are done in 45 minutes (show time)!
When people ask for advise, but don't get the answer they want and go ahead and do what they wanted to do before asking for advise. Good luck, some things you have to learn the hard way.
It was difficult tearing down and rebuilding a 20x20 deck that needed replacing on my house. Used fake wood and it cost over 7k. It will be too expensive and with the limited money they have, they will be upside down starting at 250k. Some decisions can ruin your life.
I am fairly handy, but I know my limitations. I've done electrical work and replaced the plumbing and know what it takes.
That's quite a story you should be very proud of yourself
Growing up in an old house and living in one currently I can 100 % attest to what Dave is saying. It was tough just living in an old house, can’t imagine what its like rehabing one
Ditto! It’s a labor of love. I LOVE old homes but they get expensive. Part of me wants to tell her to offer $25K and see what happens. I feel for her, my heart aches! 🥲 You know it’s such a neat house and the rose-colored glasses are on!
I have nightmares about buying a house like this. Finding bodies in the walls. 😂
I hate this idea of making my home a project. Home is where I come to rest, not renovate day in day our after work.
At the very least, budget for contractors.
@@gmarie3053 Exactly! They might wanna budget for an exorcist too. 😂
@@rachelr.290 🤪🤪🤪😂😂😂
@@gmarie3053 wow! i have never thought it that way. My wife has tons of ideas about renovating our home... i am going to show her your comment. If i don't reply with her comment.... i may be dead
Or tunnels in the basement!
These old houses almost always have major foundation issues, lead and asbestos in the walls. Look up the most to get a abatement done. You will likely have to do all new insulation. Framing is never to code for a renovation. Add in all of the other expenses they are money pit. Every bid you get will likely change as well. There are so many unseen factors until you dig into it.
For a first house no thanks!
Some of Dave's retirement advice is not right. But real-estate the guy knows what he is talking about.
Take that energy and direct it toward your new baby. You're gonna need it.
Some of these old homes have lead paint, asbestos, shock hazards, mold and various hazards that one doesn't want to face when pregnant or with a small child.
Adding to what Dave said you also do knon know how much time you will have. Hopefully everything with the baby goes good but unexpected problems happen.
Why do people ask questions when they already have their minds made up?
I spent my working life as a mechanic and people would bring a used car in for an inspection prior to purchase. In most cases the vehicle would check out fairly well. In others it would be a disaster and I would explain to the customer all the issues and to avoid the car like the plague. A week later they would show up with the trash pile on wheels and say “I just fell in love and had to buy it” Some people are beyond help and there is nothing to do about it.
They are looking for affirmation, not advice.
Part of the problem is that banks do money. They don't do real estate. It wouldn't surprise me if some banks still had foreclosures on the books from 2008.
Yep. Banks are friendly but they are not your friends!
I’m in a bit of a similar situation as, I’m probably going to inherit my mother’s house. Not only am I in probate, but she hoarder it. There’s no heat and power to work. Probate is dragging on. I’m shopping for a propane or kerosene heater. Has a new roof. But, I can see that squirrels got into one part.
Because of the hoard, I already expect surprises. But, the home is my shortest path, at my age (late 50s), to finally get out of my 500 sq ft apartment, where the rents are starting to skyrocket, and into a 1,500 sq ft house, with a yard and garage and no HOA. This house has some back taxes owed, but there’s no mortgage.
I have a relative that just says to dump it, get what I can out of the sale and pay down on a house. But, I have suspicions of losing my job.
Side note that, as a prepper, I’m looking to see how I can finally live on solar and at least some rain water. Because where things are going, globally, is no joke!
Dave is right. We owned one of these as our first house!! Built in 1894. EVERYTHING needed to be replaced and a room attached back onto the house. Oh, and the basement walls were crumbling... 😆
I looked at a for sale by owner house a few years ago. Was anxious to do the sale/buy. Then the inspector looked at it. I realized before he finished looking at the basement (where he started) that it was a no-go. I would have spent more than the sale cost of the house just to get it to pass inspection, and that was based only on the stuff he found. I ate the $615 inspection cost and told the owner Sorry but I can't go forward.
My mom's house is not that old, about 45 years old by now. Few years ago the door knob and lock on the bathroom door worn out and finally broke. Found none of the ones on shelves in hardware stores match the housing holes in the door. Some of the parts of the modern door knob and locks are same or similar to I bought one set and took it apart and use those parts to substitutes in the broken bits in the old lock. Not perfect but it opens, close and locks again.
Anyway, moral of the story is with older houses, parts and designs may not be compatible with modern standard sets. Prepare to replace whole thing or order custom made stuff for bits no longer being manufactured.
I cracked up the whole time on this one haha if her husbands a yes man … they gonna buy it anyway 🤦🏾♀️🤣
It has not even crossed her mind that they could be broke a quarter the way through the rehab.
Crazy how this video comes up as I’m looking into Victorian homes to buy as my first one 😳😳
He’s 200% correct on EVERY single point.
Not to mention shims all over the original framing so there is a level plain to install drywall onto.
OMG, please I hope they don’t do this.
I’m experienced and there is no way I would do this unless I could commit full time hours to see the project through, have cash to buy upfront and cash enough to see the rest through to the end. Probably 400k+ and thats if everything was DIY…
Yes Dave you can patch plaster. My stepdad was a stucco contractor. There's a lot of old houses in LA and he used too patched ceilings that had rain damage all of the time. He could blend the patch so well that you couldn't see them. The problem is that plaster is a lost art because of sheet rock
I was thinking the same thing, that plaster certainly can be patched. The problem is finding someone that knows how to do it. Like you said, it's a lost art. John and Jane Homeowner aren't going to figure it out reading a DIY book and watching videos.
Patching the wall is a minor task compared to what she is facing, you don't patch other things like plumbing, electric, tearouts, roofing do I need to go on
Dave is ABSOLUTELY right! If you want a project buy a vacant lot and build a 1500 foot house with a modern floor plan and energy efficiency.
Many years ago I read a book called "The System: The Dating Dictionary." In it, the author discussed the dangers of marrying someone like this - someone who only sees the kitschy charm of a house while ignoring the practical red flags, the massive financial burden, and the immense human effort required to make her dreams come true. The lesson to single people is this: If your significant other talks like this person, run in the complete opposite direction of the altar.
I think they misunderstood. SHES REALLY HANDY