c.1767 New england house ARV help needed

[Richard Walters]

Hey BP folks. I'm working on a property flip analysis on a c. 1767 New England house in New Hampshire and a few aspects of the house have me perplexed.

Does a renovated antique house warranty a higher asking price or only add to the charm? The property has a 4000 sf barn and a 3000 sf double garage/carriage house. The entire property needs major updating and renovating after decades of deferred maintenance. I'm struggling to find local comps with similar attributes to come to a realistic ARV.

What value does a barn, large double garage bring to an antique New England house? Any advise is greatly appreciated.

[Mason Hickman]

@Richard Walters

it’s great you’re looking into antique houses. My wife and I are big fans and live in one. What we see in our area is that the antique homes sit on the market a little longer than newer builds. Antique houses definitely reduce the overall buyer pool because of the high level of ongoing maintenance they are assumed to need. Additionally, many of the antique houses have quirky features including, but not limited to, box outs for heating/ducting, chopped up rooms to accommodate bathrooms and other modern conveniences, small closets, knee walls, lower ceiling height, etc. I would purposely look to see what types of quirkiness your property may have and how buyers will perceive it.

In short: we experience a smaller buyer pool and longer time on market.