Hoping to get some input on an "appropriate" age of houses in Chattanooga. There's the obvious tradeoff of newer construction vs. price, and I am trying to find the point I should rule out old houses.
For example "If the house was built in 19XX or earlier, expect significant CapEx". Trying to preempt issues like knob and tube, lead paint, etc
Thanks in advance,
My 1927 built Dutch Colonial is balloon framed but has BX wiring.
The foundation is solid and the structure is incredibly strong. Knob and tube was out by 1925-1930 in Chattanooga from what I've learned.
I wouldn't try to box in the age vs cost to restore or rehab. Each house and each neighborhood is different.
I automatically fill in x cost for mechanicals (electric, plumbing HVAC... etc) per sq foot. You win some and loose some in those areas.
Bottom line, if I can't make a house beautiful spending -$30ft turnkey and still make money, I'll walk. There's always nightmares ;-)
By the way, a lot of the houses were re-deeded in 1930. Some say it was a records fire. Some say they annexed a lot during the depression. So a house with a 1930 deed could be much older .
Thanks for the insight @Jeron Kyle , looking at a property built in 1920 right now, so I'll need to confirm any presence of knob and tube based on what you've suggested.
I see that you've planned (or are) a contractor. What sort of work are you doing at the moment?