Help me not screw up a remodel
February 6, 2009 11:19 AM Subscribe
I'm finished with California and have decided to move to Denver.
I single, self-employed, work from home, late 20's and looking to buy a house to turn it into my castle. My plan is to move somewhere in downtown or near the city center (Jefferson Park, Capitol Hill, Highland, etc..) buy a smaller house and remodel it, most of the housing there is older so I figure I could drop 30 - 50k in renovations and turn it into a very nice place while keeping its traditional charm.
The point is to end up with a place that is uniquely mine that I can just hang on to indefinitely. My total project budget is 200k, part of me is nervous about undertaking a project like this but I think its a solid challenge. Is there anything I'm forgetting or should be aware of?
I single, self-employed, work from home, late 20's and looking to buy a house to turn it into my castle. My plan is to move somewhere in downtown or near the city center (Jefferson Park, Capitol Hill, Highland, etc..) buy a smaller house and remodel it, most of the housing there is older so I figure I could drop 30 - 50k in renovations and turn it into a very nice place while keeping its traditional charm.
The point is to end up with a place that is uniquely mine that I can just hang on to indefinitely. My total project budget is 200k, part of me is nervous about undertaking a project like this but I think its a solid challenge. Is there anything I'm forgetting or should be aware of?
Scientifik: I single, self-employed, work from home, late 20's and looking to buy a house to turn it into my castle. My plan is to move somewhere in downtown or near the city center (Jefferson Park, Capitol Hill, Highland, etc..) buy a smaller house and remodel it, most of the housing there is older so I figure I could drop 30 - 50k in renovations and turn it into a very nice place while keeping its traditional charm.
Well, I live here in Denver, and I can offer a few points, I guess:
Highlands might be a bad idea. Highlands is probably the up-and-coming residential area in Denver, and, though I don't really shop property values much, I'm certain it's at the higher end of the scale. It's an area that's been gentrifying rapidly in the last few years, though that will probably top off in a year or two, I think.
If you're looking for a really nice old fixer-upper with character under the surface that you could bring out without too much trouble, Capitol Hill is probably the area to go to; in fact, most of the neighborhoods just south and east of downtown are full of 80-, 90-, and 100-year-old houses that can be really neat. There are a lot of old brick buildings that stand one and two stories high; the yards are, for some reason, usually elevated off the street. There are a good number of nice large parks like Cheesman Park and Washington Park.
If you want something a little cheaper or houses that are generally wooden and almost all one story, another great neighborhood is my own: it's the town of Edgewater, which, although it's a fully-incorporated home-rule city, is very close to downtown; I drive my wife to work downtown every morning, and it takes me ten minutes to get there, since Edgewater is just south of Highlands. Edgewater is one square mile in the middle of a city that feels more like a small town; people here are generally a little older, some things seem a little more funky, I count more motorcycles here per capita than I've ever seen. There's a neon "Edgewater" arch at the entrance to town at Sheridan and 25th Avenue that says "Thank You - Call Again!" on the back. Also, real estate is cheap, from what I can tell, and there are a lot of interesting places that have a lot of potential for sale, I think. It's probably worth a look.
Hope this helps.
posted by koeselitz at 12:24 PM on February 6, 2009 [2 favorites]
Well, I live here in Denver, and I can offer a few points, I guess:
Highlands might be a bad idea. Highlands is probably the up-and-coming residential area in Denver, and, though I don't really shop property values much, I'm certain it's at the higher end of the scale. It's an area that's been gentrifying rapidly in the last few years, though that will probably top off in a year or two, I think.
If you're looking for a really nice old fixer-upper with character under the surface that you could bring out without too much trouble, Capitol Hill is probably the area to go to; in fact, most of the neighborhoods just south and east of downtown are full of 80-, 90-, and 100-year-old houses that can be really neat. There are a lot of old brick buildings that stand one and two stories high; the yards are, for some reason, usually elevated off the street. There are a good number of nice large parks like Cheesman Park and Washington Park.
If you want something a little cheaper or houses that are generally wooden and almost all one story, another great neighborhood is my own: it's the town of Edgewater, which, although it's a fully-incorporated home-rule city, is very close to downtown; I drive my wife to work downtown every morning, and it takes me ten minutes to get there, since Edgewater is just south of Highlands. Edgewater is one square mile in the middle of a city that feels more like a small town; people here are generally a little older, some things seem a little more funky, I count more motorcycles here per capita than I've ever seen. There's a neon "Edgewater" arch at the entrance to town at Sheridan and 25th Avenue that says "Thank You - Call Again!" on the back. Also, real estate is cheap, from what I can tell, and there are a lot of interesting places that have a lot of potential for sale, I think. It's probably worth a look.
Hope this helps.
posted by koeselitz at 12:24 PM on February 6, 2009 [2 favorites]
Response by poster: Sorry for being scatterbrained - Basically I'm asking what is your experience remodeling a house in Denver. I'll probably have a Contractor handle most of the work with me doing a few of the small things.
posted by Scientifik at 12:25 PM on February 6, 2009
posted by Scientifik at 12:25 PM on February 6, 2009
I've been here 40+ years. I think your 200K budget may be challenged. Especially if the remodel costs are to be included in that. Of course, prices in any trendy area are way up there. We used to live near Washington park, and sold our little 860 square foot house for $310K 5 years ago. Since then the neighbors house has been redone and sold for 500K +, and there's one down the street for $1.2 million!
There are $150K houses in town, but they're not in your preferred zone somewhere in downtown or near the city center . Except in some of the less appealing areas...
Good luck! It's a nice town.
posted by ecorrocio at 1:49 PM on February 6, 2009 [2 favorites]
There are $150K houses in town, but they're not in your preferred zone somewhere in downtown or near the city center . Except in some of the less appealing areas...
Good luck! It's a nice town.
posted by ecorrocio at 1:49 PM on February 6, 2009 [2 favorites]
The rule of thumb about remodeling, in Denver or anywhere else, is that it will take much more time and much more money than you plan. Just don't get frustrated and keep your dream house in mind when it gets stressful.
posted by kattyann at 8:56 PM on February 6, 2009
posted by kattyann at 8:56 PM on February 6, 2009
This thread is closed to new comments.
Are you thinking of doing the work yourself or hiring someone to do it? Knowing that might help people answer.
posted by betterton at 12:17 PM on February 6, 2009