How to renovate an old house: Almost doubled the cost overnight

Friday, October 12, 2012

Almost doubled the cost overnight

We signed the contract with Todd Hershberger at Cadence Construction on Wednesday! We're doing a demolition walk through Monday morning to find the things that are going/staying. Also, contacting folks about taking care of LOT OF LIZZY (lightening bolts and minor cords ensue...) 25 months after purchase we're finally starting work on the house!

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Natalie moved into the 'hood in 2002 when she bought a little Craftsman Bungalow. Since then she met Harris, they restored a Victorian/Craftsman transitional and moved up the hill with their darling little girl child.

In 2009 the Holloway St National Register Expansion District passed bringing state and federal tax credits to qualified restorations of contributing properties. North Carolina provides generous tax credits to owner occupiers who restore properties in historic districts and we have received those for our primary residence.

With Elizabeth, we will apply for the income-producing tax credits (federal and state) and create a delightful rental property. We will document the work involved, what we learn about the tax credit process, and how much each step costs, hopefully providing supporting evidence that renovating an old house to historic standards is really not that scary.

How to renovate an old house

TOTAL COST TO DATE

Friday, October 12, 2012

Almost doubled the cost overnight

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