The price of homes are so high and the opportunities for massive appreciation on the sale of a restored Victorian that those with time and money on their hands are buying old run down houses and giving them a complete makeover. We met one couple that had this dream and they would drive the streets looking for old houses in need of repair, noting the addresses, and then looking them up at City Hall. If the house had the same owner for more than 30 years, they would write the owner and ask if they were interested in cashing out their home equity by selling. They wrote over 100 letters before they got a positive response.
One problem with the old Vics is that they were often build on a brick foundation which is crumbles over time. Modern building code suggests concrete foundations with the house bolted into the concrete which is what’s going on with this house which is down the block from us.
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