Quote:
Originally Posted by EvoFire
There's a few really well done Vancouver Specials around, but the problem I have with those houses are typically the damn thing is not very well built to begin with, and if you are going down to the studs on a 800k reno, you'd be better off with a brand new build that will give you clever modern designs and space use, and arguably similar build quality anyways.
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Yep when I was looking at building a new house or renovating something I couldn't make the math work on a renovation of a Van Special once I took into consideration how much more space I would get from a new build. At the time I think the math was something like:
3400sf new build: land $1.6m, new house $1-1.2m = 2.8m
2200sf Van special: land/house $1.8m, renovation: $800k = 2.6m
It was only worth renovating a Van Special if you were doing a buddy guy renovation so that you could flip it.