That should be a healthy budget for a kitchen with plumbing and electrical being part of it. Since they are friends why not get home inspection before buying just to be aware of any issues you will need to budget for.

Thanks ladies, I will be going over tonight at 8 to take a look at things. Foundation is my biggest concern. If that is failing we are dead in the water. Keeping my fingers crossed. As for the lay out of the kitchen. I think I can make it work but it is a gut job for sure. Will need all new cabinets and new island. If I can get enough cabinets in there it would work.

I would definitely pay for a GOOD home inspector who will give you a detailed report. But it sounds like it could be a fantastic opportunity. I know I could never get my husband on board with such a home and project, so I am jealous!

We have bought two Victorians.

The first, we put in a kitchen (it had a sink, but not really a kitchen), a downstairs bathroom, a living room addition, an upstairs addition with new bathroom, windows,closets, closets, closets.

The second, we gutted the kitchen and two bathrooms so far. Put new sinks, shower heads and toilets in all the bathrooms, had to replace the entire front porch because the columns were dust, a French drain and sump pump in the basement, new windows on all three floors, new insulation, shingles and probably some things I'm forgetting.

Restoring / remodeling an old house takes vision, hard physical work, patience, and three times more money than planned. Please consider having a structural engineer check out the foundation.

I have lived in a Victorian and now live in an 1840s creole cottage which we renovated. Some other things to look out for in addition to foundation issues: electrical system, plumbing- inside and out, hvac, lead paint, mold, insulation issues. You almost certainly will have a problem with one of these things. I don't know where you live, but $80k could be a reasonable budget or you could go through it all before you can even think of doing something cosmetic. Get the best inspector you can and also have a video plumbing inspection to determine what is going on outside. All that being said: I much prefer living in historic homes- even more than a custom home we built. I think it is worth every headache.

One thing that will be a big expense are the windows. There are over 20 windows on this house. And some of them are huge. I have never replaced windows but I do know it is expensive as all get out. They did put storm window covers on the outside of them. Hopefully those work well.

Oops- I forgot about Windows. On houses this age nothing is standard sized. So- you will have to get custom windows. Also, are there any historic preservation restrictions on your home? This can determine what you are allowed to do to your home and what materials you may use.

Good point on the windows. If your house is deemed historic or protected somehow, you might not be able to put in replacement windows (we did.) Restoring historic windows is way more expensive than putting in replacement windows.

I will say, though, windows are the single best upgrade you can give your home.

I do not think this house is registered in our country as a historical home but I will double check.

We did it in 2003 bought a 1890s Victorian, so much work, so much money, so rewarding. We used a structure engineer it was the best few hundred dollars we spent. On the plus side even with the housing crash we did not lose a dime people love old homes if done correctly. On the negative side if you have limited funds you need to be handy, patient and flexible. From purchase to finishes we spent twice what we thought and it took four years if you count getting the landscaping in.

One issue we ran into was homeowners insurance a few companies refused to cover citing age of home until we proved all electrical, plumbing, heating and roof were new and up to code

Well we wont have to worry about landscaping. The owner is a landscaper is did all that already lol. They did put in new HVAC too. They sand blasted and repainted the outside of the house. It's bright green. Put new posts and rails on the wraparound porch. I think it might need a new roof. The floors and stairs look to be in great shape and they updated 2 out of 3 bathrooms. I will try and get some photos tonight.

Post some photos when you can. There is no reason to replace old windows, properly maintained they can last a hundred years which can't be said for their replacements. The storm windows make them very efficient.

um. ellsworth-hallett... windows do last 100 years, i agree. but the home was built in 1890, putting these beyond their sell by date.

we live in an 1870 home. the previous owner added 3 bathrooms and it had a good kitchen layout. over all good condition. which still hasnt prevented us from spending over $400K on adding a room redoing the kitchen and refurbishing the library, dining room and front hall. so far the house has appreciated ahead of our expenses but you gotta be in it for the love and not the money.

Been there, done that : > ). Loved every minute of the reno.

Warning: how is the electrical and the plumbing. What else will NOT pass code?

Once you decide to do major renovations, your builder will apply for the permit. You can be sure most of the important things will not pass. We had to put in a new set of stairs because the treads were too narrow. That was a challenge.

One more thing...how is the foundation? We found out that we soon would be the exterminators biggest client. Those little rascals

can slip through any crack they can find.

Nngirt I respectfully disagree. I have restored many windows from that era, modern windows are trash when they fail. Do what you want with your money, there are many expenses with an old house and replacing windows isn't one I would do, especially since restoring them is a skill that anyone can learn. It isn't always the answer, but my point is that replacing the windows shouldn't be the default answer.

More on the Windows- good tradespeople can do wonders on repairing antique windows. However, make sure you hire people who care about old homes and are familiar with working on them. When we moved into our 1840s home, many windows were a mess but our contractor and his team repaired them all. This saved us thousands of dollars since we have very strict rules about historic preservation requiring that replacements replicate the originals. If you bring in someone not used to working on old homes- they may just tell you that you need new windows.

ellsworth, sorry i was tweaking you. when something lasts 100 years, and now its 126 years... they might not be so great any more.

i can attest to the fact that my two remaining 146 year old windows are Total Rot, inoperable, and only (what looks to be) 100+ years of being painted closed is keeping them in place. but they have nice wavy glass, so the kitchen and back stairs freeze and roast on an annual basis.

(the rest of the windows fell victim to the 70s, or whenever it was that brought the joys of combination aluminum windows. we've replaced the aluminum ones with wood ones, they really are lovely).

Sounds like a fantastic opportunity! I love older homes, especially Victorian! We purchased a 70 year old Cape Cod last year and one of the first things our realtor had us do was the inspections. Luckily for us, the previous owners took very good care of this house and we were told for a house this age, it was in great shape! The previous homeowners already replaced all of the windows, which help a lot when it's this hot and in the winter during our frigid temps.

Tereas--In most places, a 100 year old house becomes historical and since your house is older than that, do not be surprised if it is already on the historical list.

What will be the market value after you put in $80,000 in a house you purchase for $120,000? I understand you may not be planning to sell for many years but life has been known to throw curveballs and jumble the best of plans.

I have seen many houses which sell at a discount to finished price but often the discount is nowhere near enough to actually do the necessary work without putting in lots more money than market conditions will justify.

Definitely stay away from the replacement window clowns. The quality of windows appropriate to the house would eat up a huge portion of your renovation budget

My folks bought one and we all still are pretty sad that they sold it....We LOVED that house...it was a home and you could feel that from the minute you walked in.

In my opinion, an old house is more of a hobby than something you fix up...you have to love it and it goes on for as along as you own it. Or it owns you.

You probably know that you will buy it, right? I can tell... :)

The vast majority of Victorian houses are not protected (which is why I love seeing someone fixing one up) or deemed historically important. They are not that rare. Restrictions usually come into play if there is something historically or architecturally important about the house (you would probably know this if it was the case) or if the house is in a neighborhood that is protected (and there are varying degrees of this). I live in the New Orleans French Quarter where every building is coded according to architectural significance and very strict rules apply. However, there are many other neighborhoods in the city which are loaded with Victorian homes but do not have these restrictions (just the scorn of your neighbors if you put up vinyl siding:). I suggest you get in touch with your local preservation group-if there is one. Sometimes there are even grants available to help with restoration. Also, you will meet many local people who are smitten with historic architecture and will have lots of great advice to pass on. One of the best things about having an old house is learning about the history behind the house and the people who built it.

You should really put together a list before purchase of big ticket items to consider. List any and everything that could go wrong with loose estimates for replacing/repairing those items and see where you come out at the end of the day. Some big things have already been listed, but I'm sure there are more potential hidden costs. You'll want to make sure you have the funds necessary to put towards these things even before considering any type of renos/updates.

Getting an inspector before purchase was mention by a couple people as well - great idea! this can help give a rough outline for what you may need to worry about.

Off the top of my head, here are a few things that might be on my own list should I find myself in your shoes:

-roof (how old is it/are there any problems leaks)

-foundation (cracks/condensation?)

-electrical (is everything up to code)

-plumbing (how old is the hot water tank/pipes, are there any leaks)

-windows/doors (weatherproofing/insulation issues?)

Another hing to consider is how much property taxes work out to if it is historic, how much it might cost to heat as older homes don't have the same insulation values, and how much home insurance will be on a home that old. As the monthly/yearly costs of a home often sneak up on us in the budgeting process. Especially when we think we have a certain amount set aside for projects.