Viewing a renovation project, and what to look for

Hi,
My wife and I are looking at a derelict house as our second home, and a renovation project.
We are going to view the property in a couple of days, and although I have bought my current house and followed due diligence in purchasing it. I am unfamiliar with what to look for in an older house.
The house is roughly one hundred years old, a red brick built by an english company. It certainly looks like a middle class dwelling built to a high specification.
The vendor also purcahsed the house for renovation, but does not appear to have proceeded with the project (he appears to be filithy rich) but he has said that it will need a new heating system, new water system and new electrics.
One last thing, this house is not currently for sale, I contacted the vendor after looking up the property on the land registry database, so any advice on how to proceed with any sale would be good too.
TIA
Chris aka BoobBoo
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Chris Kernaghan wrote:

Since you are not in a position to accurately estimate the cost of all this, nor to evaluate the property, I suggest you do two things. First have a home inspector check out the house to get a list of what will be needed. They may not get it all, but likely more than you will see yourself. Next get a professional appraisal of the property so you have some starting point for determining if the price is fair. Then you will have a much better idea of what you are getting into and can decide if you really want this.
--
Joseph Meehan

26 + 6 = 1 It's Irish Math
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

have
point
idea
I agree about the inspection, sort of. Most home inspectors are clueless to a lot of real issues with older homes. I would suggest an contractor that does renovations in your area. He would know better what it will cost. You had better be prepared for figures close to, if not exceeding what it could cost to build new. After you buy the property.
If this guy is not offering the property then go slowly and be ready to move on at the slightest hint of pricing that you feel is out of line. Do not get attached to something that you do not currently own.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
besides the home inspection in the other post, I would also get a camera inspection of the sewer lateral. This is often not part of a general home inspection. A property that's been vacate for some time is likely to have root damage and possibly a collapse of the lateral (this alone can get into 5 figures).
bill

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
I'll take a somewhat contrarian position.
I hope I do not come across as being too harsh, its not my intent.
If you need to ask what to look for then I would say you are probably not equipped to undertake, or even manage, such a project. I would recommend that you back away unless you have a trusted advisor, consultant, project manager, general contractor or whatever to handle the project start to finish (AND you have deep pockets).
If you have deep pockets and you want an adventure, don't have, or need, a job then go for it. Heating, water and electrics. That tells me this will be, quite possibly, a gut job. Pull all wallboard, lathe & plaster, fix the structure, put in all new mechanicals, etc. All this is, of course, done once the outside is weather tight. Also, while the walls are open you will probably be refurbishing or replacing the windows.
Good luck

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

HomeOwnersHub.com is a website for homeowners and building and maintenance pros. It is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.