Would you touch it with a 10 foot pole? DH and I both have architectural backgrounds and have designed and subcontracted many new-construction houses. So not really worried about that part.
This particular house...OMG. It was listed several months ago at $500k+. We went to see it, but didn't go inside. The property is PHENOMENALLY beautiful. I've never seen anything like it. It's almost 10 acres and at the edge of the water. The surrounding houses are gracious and lovely, but it's not anything I'd call a neighborhood.
Came back on the market at $299k. It's a PUD. The house is much larger than I had realized...6 beds, 6 baths, 5,000+ sq ft. Way bigger than anything I want or need. And it needs EVERYTHING redone, from the pictures I've seen. But it's a historic mill, built in 1937. SOOOOOO much character, it makes my heart sing. Maybe we could just close off part of the house and redo the main house?
I don't think it even has a Certificate of Occupancy.
Dream come true or money pit? How do you even figure out whether something like this is feasible?
And how do the CO issue/PUD impact financing?