Rehabing and remodeling structures has become more and more common in the Skinker DeBaliviere neighborhood. The question is, with hands coated with’ stripper, hair matted with paint, and lungs filled with plaster dust, is it worth it?
A great number of people are attracted to old homes because of their grace, charm and antique fixtures. Woodwork in these homes must now be custom milled at enormous costs. An average. sized leaded glass window at an antique shop costs from $50.00 to $120.00. Brass window pulls, door knobs, and switch plates cost from 75c to $8.00 a piece, depending on size and quality. A new, two story plain porch columns can be purchased for $1000. As you can see “replacement costs” are high.
Aside from the basic architectural worth, how do the figures work out? A “good” derelict house, with about 2300 to 3000 square feet can be purchased for from $6,000 to $10,000. Basic repairs, i.e. plumbing, electrical, furnance, roof, carpentry, plastering, painting, etc. can be done for about another $10,000. to $12.000. For example, a house with about 2200 square feet, purchased for $6500. and renovated with another $12,000. costs about $8.40 per square foot. Today, new residential construction costs about $22. per square foot. Clearly, rehab in the Skinker DeBaliviere neighborhood is a bargain in terms of comparative costs.
Is there a market for these old houses? The experience in this neighborhood has been that there is. So far, all the rehabs have sold easily and there seem to be purchasers waiting for more to be completed. The trick in attracting purchasers and selling rehabs is to provide good modern systems, kitchens, and bathrooms; lovely old woodwork, leaded windows and fixtures at a reasonable price.
Looking at replacement costs, comparative costs, and demand, rehab in the Skinker DeBaliviere neighborhood is “worth it”.
Original photograph caption
This house on Westminster is undergoing extensive rehabilitation. An entirely new porch platform and stairs had to be built. The columns and roof had to be raised and suspended in order to do the job.
Originally published in The Paper, March 1975.
Read this article in the original newspaper issue.
Original source: SD_Times1975_03.pdf, printed page(s) 5; PDF page(s) 5.
