What do you think of this house? - talk me out of it!

[saffronwblue]

DH and I are looking around - our current house is about to get surrounded by new apartment blocks and we can get a surprisingly good price for it. We have 2 teenage dc, a dog and 2 cats.
We keep getting drawn to this house - it is in a wonderful location in Melbourne and we love the quirky, unique and historical nature of it, all of which could make it an absolute endless money pit.
I think it needs a new kitchen quite urgently - what are your thoughts?
www.domain.com.au/136-faraday-st-carlton-vic-3053-2012747016

I saw damp too, so not as well kept as it appears. That would put me off.

This one on Lygon St is quite nice too, although smaller

www.domain.com.au/436-lygon-street-carlton-vic-3053-2012824709

It's lovely but l think a money pit sorry. My df is a carpenter and was mortified we bought a 100 year old house (in the UK) because in Aus, in his 45+ years of work experience, this is a bad bad idea! He was taken back with how sturdy they are here compared to home.

Is that because of things like termites and the likes?

I would agree with everything Parrots has said, especially re noise and nightlife. I'm sure I remember that building as a (very rough) pub so my knowledge isn't exactly up to date

Yes and that houses (materials used) generally weren't built for the Australian climate and don't wear well. They can and do of course, it just takes a bit of this $$ though!

Update! Spoke to the EA and the owner has decided to take it off the market, do structural renovations herself and put it back on at around 2 mil.
So this is not going to be the one for us. Thank you all for your insights - they were really helpful.

Good luck with your search, saffron.

Thanks for info Diggers
Sounds like you dodged a bullet OP.