Buying a fixer... (HOA, how much, house)

[justanothercalifornian]

Well, we found a perfect fixer upper in RR and the price is very right. The problem is that in order for it to work for us we need to do two major things. One: Put in central AC/heat. Two: Add an extra room.
It's a 1930's home and has double pain windows, which is nice. It's only 1000sq ft. and we have two little ones (and won't be having anymore that that.

We are not the type that need a huge house, but we do need more than what it currently has.

We have a good family team of skilled people to do a lot of it DIY.
Is this not a good idea? How much are we talking here?

[achtungpv]

If you're going to remodel without living in it, I would remove all the sheet rock, run HVAC ducts, go ahead and rewire and put in new insulation while you have the opportunity and then re sheet rock. You'd be amazed how much better newer sheet rock looks even compared to mint condition sheet rock that is 20 years old. If you do the demo yourself it's actually pretty cheap to have someone hang the sheet rock and not difficult to do yourself (practice your taping and floating in the closets!) and you'll save money on the electrical/HVAC since it'll be easy access.

[centralaustinite]

It has no AC? So you need a complete HVAC system. Insulate the attic (and walls if you can), put in a radiant barrier and make sure the ducts are sealed tight. Hire professionals to do this. You need a properly sized system and well designed ducts. Most places will give you a free estimate.

Make sure you properly permit the addition. You will have to disclose if anything was done without a permit and many people will baulk at an addition built without permits when you want to resell.

Making sure that the foundation of the addition is well joined to the foundation of the original is key. This can require an engineer. Do not skimp on this. And make sure the existing foundation is sound.

I do not know about RR but make sure that there are no HOA or city regs that would prevent you from adding on before you buy. There may be setbacks, easements, impervious cover requirements, not to mention any HOA, that can affect your plans.

Has the electrical system in the current house ever been upgraded? If not, you will need to do that when you do the addition.

It is impossible to know the true cost without a lot more information. I'd guess we are talking at least $50K, maybe more, particularly if you are adding a bathroom or redoing the kitchen.

good luck