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joe_mn

'this old house' money question

17 years ago

anyone have some facts on the last season of this old house? how does a youngish couple living on the east cost buy a house and than tear it down and build a million dollar new house? they never talk about money on that show. i thought most houses in the mass/conn area were very pricey. that only adds to the cost of the project. was it inherited from a family member? was it a crack house? who knows the financial numbers on that house?

Comments (14)

  • 17 years ago

    ....and where did Steve go? He was a great host.

  • 17 years ago

    First, they're not really "youngish". I believe the owner is a big Boston ad exec in his late 40s. Second, there certainly wouldn't be a crack house in Weston, MA. It is not at all uncommon in these parts, at least in the ring 10-15mi around Boston (Weston, Newton, Lexington, Concord, Cambridge, Lincoln, Wellesley, etc) to have a $500k-$1mil "tear down". Even if you go 30-40 miles out, prices are still crazy. In my neighborhood, $500k will buy a 100yo 1700sq ft "fixer-upper." And forget new construction. Land prices are so high, (and land so scarce) that builders are forced to only build $700k+ homes. (and that'd be a 4000 sq ft home on a 1/2 acre lot)

    TOH has sadly evolved from a "DIY" show with reasonable budget projects to more elaborate projects out of the budgets of the majority of viewers.

    BTW, Steve left quite a few years ago. I've seen him over on TLC or HGTV.

  • 17 years ago

    my BIL is a really nice guy and also makes large $$. he just built a 7000sg/ft (1.7M)house. it also has a 1500sg/ft garage and sportcourt under the garage. the development of 15acre or so was never developed till the last 5yrs. it is very close to the south edge of st.paul mn. one of the property owners initially wanted to buy the whole parcel and build 1 giant house but the seller nixed that idea. now there are about 10-12 nice houses. i have lived in that area for about 20yrs and knew of the land. i guess the owner was waiting for the price to hit his asking price.

  • 17 years ago

    Joe: Are you implying that 7000 sq ft isn't a giant house, and that there are 10-12 of them on that parcel? About your BIL's 7000 sq ft house: what sort of rooms and spaces fill a place that big? I'm curious because my own house is 1700sq and is comfortable for our family of 5. Much of the new construction McMansions around here are in the 3-4000sq range, and those are 'big' houses. I can't fathom what someone would do with all that space. (Let alone the cost to heat it, or the taxes!) [I'm not criticizing, mind you, to each his own. Just curious, as I said.]

  • 17 years ago

    yes, every house in this property is about 7k. 1 is about 10k. 1 is owned by a pro-football player who just got traded. for sale for 1.4M. 7k is huge. single level with full finished basement. fairly rectangular shape. 35Dx100W. (1)center entry leads to formal living room 20wx35d. (2)right side of house has master suite/home office. 30wx35D. (3)center/left kitchen/casual eating area. 25wX35D. (4)far left is laundry room, pantry, left front entry area, left rear exit, stair landing to lower level, screened in porch on rear of house, bathroom 25wX35D
    4 bedrooms in basement, billiard room, home theater w/kitchen area. common computer room for kids. utility room. storage area. the architect had plans for a 1500sg/ft 2nd floor also. that was voted down. my other BIL has a 4500sq/ft 2 story house that is easily as nice in build quality. probably 1M? maybe i am jaded. I really like the 4500sf house and this new house just seems like more of the same. dog shower in the garage. cute.

  • 17 years ago

    I've seen a few of the 'wrap parties' on TOH
    every one that I've seen the homeowners said they
    went over budget.
    Think of all the donated materials by companies
    that want their products featured on TOH.
    That is substantial savings..and still over budget??
    Think I'll GC my own projects, use some of their
    ideas..but keep my eye on the bottom line and finished
    product. Somehow I don't think the companies will
    donate materials to me..LOL!
    PS..that crack house comment was rich...too funny!!

  • 3 years ago

    This Old House Producer/Director refuses to reveal the final renovation costs. They are embarressed to do so. The cost are extremly hig. The Home Owners have either hit the lottery,, or are multi millionares. JMO

  • 3 years ago

    Right On!!!

  • PRO
    3 years ago

    It may have something to do with punctuation and capitalization.

  • 3 years ago

    " This Old House Producer/Director refuses to reveal the final renovation costs. "


    Why would they? They already give everyone the wrong impression on renovations as it is as far as time frame for everything. Now you want them to tell what they paid in a market that will be no where like yours as far as COL and with their crews as opposed to the average chuck in a truck crew?

  • 2 years ago

    I enjoy the show, but the cost of the projects...? Some of the projects would have been much cheaper to knock the structure down and start anew..

  • 2 years ago

    Right

  • 2 years ago

    The explanation I received from host Kevin O'Connor . .


    The main focus is on new ideas, products, techniques and services which are currently available. Ask This Old House has taken up a bit of the slack with DIY projects.