Have you ever seen that old Tom Hanks movie where he and his wife buy this beautiful old home for a steal of a price, only to start doing work and find out that everything is wrong with the house and it was basically being held up with the decaying bodies of dead termites and the tears of the rats living in the walls? Three different people mentioned that movie to us when we closed escrow on our new place in Ventura – not a good sign.
Now that we’re in and we’ve started demolition, it’s clear that this will not be a real money pit, but will be a crap-ton of work. We’re starting with the kitchen and bathroom, two relatively inexpensive things to remodel in a new house (sarcasm) and, while the walls are open, we’ll fumigate and redo all of the electrical (because the house is on the verge of burning down – and now the visions of The Money Pit come streaming back into my head. Out evil thoughts! Out!).
On the outside, the house is an old victorian built in 1900. That’s 116 years of goodness building up in those old bones. The siding is falling apart in places. Wood beams are eaten through by termites in places. There is dry rot all over the place. Have I mentioned The Money Pit?
The good news is that it’s listed as a triplex, but has the potential to be a five-unit building, which would add a ton of value and bring in a lot more income. All good things. Also, the price was right (I know, I said that about the movie as well) because the previous owner knew about all this work that needed doing.
And we are the ones to do it!
Check out all that natural light, the original hardwood floors, the…okay, that’s it. But it certainly has potential. And we love potential. We also really love that we are officially residents of Ventura.
Besides, Tom Hanks, when his house is done, loves what he has and they all lived happily ever after. Here’s to happily ever after!