An old home I am interested in buying has 10' ceilings on the main level and an attic with 7' clearance.
I would like to replace the ceiling joists (or attic floor joists) in order to lower the main level ceiling to 8' and increase head clearance in the attic in order to make it a master suite. The main level square footage is just under 900 sq ft.
The home was built in 1922 and has had zero renovations since then, all original inside (horrible kitchen). So I do not think pre-fab trusses were used. It has a full basement. Due to age and condition I know I am going into this as a full renovation project, but for $60K it seems worth it, particularly since neighboring homes go for 3x that. I paid for a full inspection and the home is solid, just seriously dated. I really need to use the attic space though. I will try to find those episodes of This Old House that @FreeMan mentioned.