They say a home is not just an investment to avoid paying rent, that you buy a lifestyle.
And often in life to get more than you can afford for a property, it means buying one that needs work. Sometimes lots of labor, plenty of blood sweat and tears. Take the example of fixing up an old farmhouse. Not to flip it, but to restore the spread back to it's original glory. From the ground up and side to side rehabilitation.
Beyond the center stone home for the farmer's family repairs and restoration, every one of the auxillary buildings surrounding it along with the big barn with tremendous hay loft storage capacity needs attention.
To replace and repair what has gone bad. To retrace missteps taken by previous owners who meant well and had the best of intentions. But at the end of the day, you gotta find yourself whispering "they really messed up" in what they would say were improvements. But you would have to argue otherwise.
It's not lack of money that causes the botched farmhouse renovation operation.
Just sometimes people meddling with real estate properties get way way over there heads. Before realizing they can not touch in the deep end of job jar pool of property repair demands. And they would be the first to admit they did not really anticipate the scope of the project when it all started with the lub dub gotta have this farm property spread that had fallen in disrepair.
I own a Maine farm, list and sell them.
Grew up on one and have been around the repair, reconstruction and know what preservation of agricultural properties entails from experience.
You are never truly done. You don't finish but make it better than it was.
To hand off to the next stranger or loved one who steps up to take over where you and those brave souls before you left off for lots of reasons.
Age factors in like everything in life. Finances too or just fire in your belly to press on.
Rehabbing an old farmhouse can be a painful, long complicated exercise because it is not just one or two areas needing the TLC but the entire structure. Do those restoration projects in stages and try to finish one or two of the renovation tasks to avoid becoming discouraged is my advice.
Learn more. This blog post expands on what's ahead in the process of fixing up an old farmhouse in Maine.