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| Features |
Estates of Grace
Eryn Brown
06/01/2004
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Reconditioning
Ryerson House to its former glory required at least three or four “really
serious” years, Regas says. Such toil is not unusual for an architecturally
significant house. Owners say finding the right architects, designers and
contractors to work with—professionals who all understand and love the original
designs of the houses—is vital. While most real estate agents can assist a buyer
in hiring contractors, historians and craftspeople, it still takes an enormous
amount of time to find the right people.
 | | “IF YOU'RE going to go to the trouble of seeking out an architect who worked in
the 1930s, you owe it to the house and to yourself to see it through.” |
It is notoriously difficult to
predict the cost of restoring a showpiece home. Regas initially calculated that
restoring his townhouse would cost him in the neighborhood of $350,000. The
final bill ended up in the seven figures. Cottrell says he spends anywhere from
30 percent to 100 percent of the original purchase price when he renovates his
architecturally significant houses, many of which he then lives in for a few
years before selling. LaFetra says restoring one of his Schindler homes added 50
percent to the cost of his original investment.
Bona fide dilemma
Some architecture enthusiasts may be unconcerned with a
home’s creature comforts, but for those of us planning to live in our newly
restored gems, this remains an important consideration. Restoring an important
house to the state of its original design will often make it a less comfortable
home. Many older houses were built before conveniences such as modern kitchen
appliances and complicated plumbing were commonplace. Unfortunately, modernizing
an antique home too dramatically risks diminishing its aesthetic and investment
benefits.
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