Remodelers are taking former barns, churches, and factories and converting them into unique, multimillion dollar homes. The idea is to “recycle” old, defunct property and offer buyers something beyond a cookie-cutter house, CNBC reports. These old properties may be refurbished and retrofitted, but still retain characteristics of their former purpose.
The luxury market is enjoying a strong recovery at the moment. The only segment of the market that saw prices increase over last year was comprised of homes priced above $1 million, according to June data from the National Association of REALTORS®.
“These clever conversions often command a hefty price tag because the interior rehabs can be far more high-end than regular new-builds,” CNBC notes. “They are usually a labor of love by the buyer, who has the vision to take, perhaps a water filtration plant and turn it into a home.”
As demand rises, some in the high-end market are finding they can rehab unique properties into their dream home. For example, in Watertown, Mass., a historic stone church from the 1800s was converted into a 2,800 square foot condo that occupies the church’s bell tower. Remodelers preserved the church’s old woodwork in the modern space. Outside of Philadelphia, an early 19th century cattle barn was transformed into a five-bedroom, 8,000-square-foot home.
