Wednesday, August 09, 2006

I can definitely afford it...

but could we ever renovate this giant Victorian? It came on the market yesterday. I'd have to be a lot more ambitious to tackle this one, though I think it would be a great investment in the end.

23 comments:

Anonymous said...

oh wow...and the yard..i'd be sooo tempted..but also with a newborn....hmmmm....but honestly are you just a little tempted??

Anonymous said...

above post by celina

Meredith said...

I'm definitely tempted, or I wouldn't have blogged about it! Wouldn't that be a gorgeous bed and breakfast? The area is kind of dicey, but on the upswing.

Beth said...

Wow, wow, and WOW, I'd at least go see it. For DH and I we definatly get a "feel" for houses when we look at them. If the area's on the upswing, is it upswinging enough to support that house when you're through with it though?

Jeana said...

THAT is a COOL HOUSE. I'm tempted, and I don't even live there. Nor can I afford it.

Calla Lilly said...

Not a bad price. Does it have central air & heat? Hardwood floors? I can imagine how beautiful it would be renovated and landscaped or decorated for Christmas with snow on the ground.

Anonymous said...

go see it and post pics for all of us...lol...and oh yeah awesome bed and breakfast....the fact its a victorian will garner you a select clientel that loves that stuff..and you are so awesome and decorating.....celina

Slughorn said...

The big question is: How much INVISIBLE work does the house need? New furnace? Air conditioner? Roof? Wiring? Plumbing? How's the insulation? All the things that the next buyer would expect to have working -- but which wouldn't get you a profit.

I think your strategy has been to take a structurally sound building and make it cosmetically appealing. I suspect that you'd have a lot of spendy 'invisible' repairs in that old house.

(We're in the middle of deciding on a new furnace...and planning insulation ... for our house. Cha-ching.)

Beck said...

Oh, we're renovating a giant (well, big enough) Victorian right now. While we live in it. With small children. And was it a smart decision? Noooooo. It's still a crazy fun house to live in, though.

Jordana said...

I'd be tempted by that one myself. Although, I wouldn't much care to be that close to the railroad tracks.

lady laura said...

WOW!! What a house! And the price? That is a bargain to the extreme for around here. A 3 bedroom ranch with one bath goes for that.

I would be SO tempted. (Drool)

Goslyn said...

Oh Mer, that is gorgeous. Buy it and fix it up in honor of me. I've always wanted a grand Victorian mansion! I bet it even has a hidden staircase someplace inside!

Anonymous said...

I would be so very tempted!! What a gorgeous house and lot. I am assuming from the listing info that the upstairs is usable at the present. That would be a lot of work and money, but what a lovely place to raise a family!! I can just see a swing in one of those trees!

Donna said...

A house like that needs someone like you! It would be a great B&B.

Alison said...

Maybe your family is ready to settle down in one house for quite a while. Meredith, you would certainly make this a beautiful home!

I can't imagine that this one could be turned for a ready profit in two or even five years. The "invisible" work Slughorn describes seems inevitable and b&b's are a lot of work to maintain (not that you don't already know both of those things).

Meredith said...

We just don't have the smarts to fix this one up ourselves. It will be fun to watch what it becomes, though!

~Kayla~ said...

I just told DH we need to move to N'ville. LOL

2boysmama said...

Wow! You can get a 1 bedroom condo here for that price. A house like that with the land, even in its condition would be at least 600-700k!

Meredith said...

Let me restate that this is in a dicey area, near the fairgrounds! I am looking hard at every property on this side of town under $200,000--and this Victorian is definitely atypical of Nashville prices. While Nashville is cheaper than places like California, New York, and South Florida, it's a lot more expensive than comparable Tennessee cities like Memphis and Chattanooga. At least from what I can tell.

Jordana said...

Not only is it right by fairgrounds, but I live about 2 miles from there and we hear the race track very, very well. I can only imagine what it would be like living practically within view of it.

Marsha said...

Run, do not walk, to the nearest video store and rent the movie "The Money Pit." Watch it as many times as is necessary until any desire for this monstrosity goes away.

Carrie said...

It IS beautiful. But no central air on a house that big would scare me off big time. I'm headed over to Nashville today from Knoxville to go to the American Idol concert tonight. A friend gave us tickets. Soul Patrol!
Carrie

AnnMarie said...

We almost bought a big old Victorian and thankfully did NOT. I'm most thankful because the day the closing should have been, our house was evaluated for lead (our daughter had been diagnosed w/ slightly elevated levels, enough to trigger a trip from the city health dept) and found to be covered in it. Had we bought the Victorian, we would have been REQUIRED to immediately repaint in inside and out. Our current house only needs about $20,000 of work since only the upstairs, porch, windows, and garage need fixing instead. the victorian hadn't been repainted anywhere in over 30 years so was surely more lead-based-paint filled.