Buying an Old Vermont Home: Truth 5

Truth#5: Vintage Homes are a great value: While often viewed as a “money pit”, older homes can offer you the most home and square footage for the money and here are some of the reasons why. When a new home is built buy the new home owner, the first part of the process involves finding a suitable lot, at today’s market value. Then you have to contract with an excavator to install the driveway, bring the utilities into the site and to the new home, do the site work, foundation hole, backfill, construct the septic system, all at today’s prices. The home is then built, once again, at market prices for materials and labor costs. At the end of the process, the bills are tallied and the total cost for the home can range for a low of $200/ square foot to $400/sq ft.

When an older existing home is priced for re-sale, it is compared to recently sold homes on the market with the appropriate corrections made for major differences in size and amenities. You never go back and start the valuation of an existing home by determining the current value of the lot in today’s market and then add the cost to reconstruct the existing home. In fact the land value in a comparative market analysis of an existing home is virtually discounted to zero. In the case of older homes with much of the original woodwork, built in’s, solid wood doors and hard or softwood flooring, the price to reproduce the finishes is not only exorbitant but in some case impossible. In the final analysis, a pre-existing older home of restorable quality is most often priced far below the underlying land and construction value of the same home if built new. While the restoration of the structure and updating of the mechanical and electrical systems can be expensive, when completed you will have that special one of a kind family home to enjoy and remember forever.

So take heart and if you have always dreamed of owning a Vermont Vintage home with all of the warmth and charm that only an older home can offer, go for it. By understanding the pro’s and cons and not setting unreasonable expectations, you can find that great older home perfect for you and your family.

Restored Stone Farmhouse on 13 acres with Views

This 181oc. Farmhouse is one of my personal favorites and if I didn't already live in a restored farmhouse.......... well, you know. This property had not been inhabited for almost 20 years when the current owner purchased it from the estate of the last owner and went to work. She began by assembling a crew of local artisan tradesman schooled in every discipline, from masonry and slate work to electricians and plumbers. The crew than began a methodical peeling back of surfaces that could be restored and gutting others to the bare post and beam supports in preparation for a full restoration effort that resulted in this beautiful home. The thing one has to understand about this ," Old House" , is that the structure and all the finishes have been restored while the mechanicals, electrical, plumbing, heating and septic system where all installed new and in such a way as to not compromise the original finishes. In short, this home looks and feels like it is 200 years old but the next owner will not be inheriting any old or antiquated systems in the process.

In any event, this property is situated on 13 acres and is surrounded by hundreds of acres of conserved farmland that will never be developed. The views to the east are of the spine of the northern ridge of the Green Mountains. You can literally see the four highest peaks of Vt from the front yard, Mt. Mansfield, Camel's Hump, Mt. Ellen and Mt. Abe as you scan the horizon from north to south. The home has four levels of finished space within the stone portion of the structure as well as a two story 20'x40'unfinished post and beam Ell. The kitchen has a raised Panton Stone hearth and a 5' high firebox. There is an identical fireplace located in the walkout basemen level " office space" that could be easily transformed into an authentic keeping room style tavern. All of the original doors, floors, woodwork, and hardware are intact and functional throughout the entire house. The second floor has had the most extreme renovations done with the creation of a full sized master bedroom and bath as well as a shared 3/4 bath for the other two bedrooms on that floor. The entire house is a restored work of art and yet still retains the cozy inviting charm of a home you would love to really "live" in.

To top it all off , the property is located just 5 minutes drive from Vergennes which has fast become one of the most desirable and sought after Vermont towns in which to live. The main street business district has been totally revitalized over the past ten years with a number of restaurants, shops and services all within walking distance of the central core of the town. Historical Otter Creek cascades over the falls located above the basin and the creek flows 8 miles through the country side and out to Lake Champlain , passing within walking distance of this very property. Burlington Vt and the International Airport are a 35 minute drive away and offer all the amenities and conveniences you would expect from Vermont's largest city.

So don't let this one pass you by. You can see more pictures and a full virtual tour by clicking the photo above. You can also get all the data at my website, http://www.chrisvontrapp.com/