Historic Gut

Coming Soon in Summer 2025

Classic historic, antique colonial in picturesque Yarmouth neighborhood by the ocean. This house was previously in the same family for many generations, since being built in early 1800’s. It is in need of total restoration.

See the before images at: https://www.zillow.com/homedetails/420-Princes-Point-Rd-Yarmouth-ME-04096/84916363_zpid/

Homeguide.com provides an insightful breakdown of the costs and process.

• “Location: Remodeling costs can fluctuate by up to 40% more than the national average depending on the construction market in your city. Just as it’s more expensive to live in the Big Apple, it’s more expensive to gut and remodel there too.
• Age: The age of a house will also impact costs. Old homes often mean old problems that may have never been addressed. The condition of the home will be a major factor in your budget. Be prepared for hidden costs like lead paint, asbestos, and rotting wood. Updates will be needed to ensure the home meets newer building codes.
• Layout: Throwing out the floorplan completely? You’ll definitely be increasing the cost of your project. Structural changes like moving walls will add to your budget.
• Size: In most cases, the cost per square foot goes up as the house size increases. According to HomeAdvisor, the average cost of renovating a 1,000 square-foot house is $19,000. Compare that to $100,000 for a 4,000 square-foot home.
• Labor: Are you planning to DIY your gut remodel or hire the pros? The latter can inflate your cost anywhere from 18.6% to 50.8%.
• Permits: Permits are par for the course with a gut remodel. Any major structural change or electrical and plumbing work means you will need a permit. Going with a contractor normally takes that burden off of the investor as these pros know the laws and code and can handle the permit application process.
• Materials: Are you envisioning marble and Miele appliances for your kitchen? Then plan on beefing up your budget. Savvy investors shop around for quality materials that stand out and stand the test of time—for less.
• Additions: Adding any kind of new structure or square footage to a property will also add to the bottom line. Extending the house means foundation, framing, insulation, drywall and roofing—in addition to what goes inside.”

Reference: https://homeguide.com/costs/house-remodeling-cost