Contemporary homes--is it a bad investment in this area?

[Anonymous]

OP, a good friend explained it this way: her brother lived in a contemporary in NJ. They were relocating to DC. The market was a bit soft, but selling a contemporary made it that much harder. Just smaller group of folks willing to buy contemporaries.

Today's WaPo Sunday magazine focused on RE and the three homes featured were traditionals overhauled as contemporaries. I really like them but I always think of what my friend said about her bro's house.

[Anonymous]

Anonymous wrote:OP, a good friend explained it this way: her brother lived in a contemporary in NJ. They were relocating to DC. The market was a bit soft, but selling a contemporary made it that much harder. Just smaller group of folks willing to buy contemporaries.

Today's WaPo Sunday magazine focused on RE and the three homes featured were traditionals overhauled as contemporaries. I really like them but I always think of what my friend said about her bro's house.

OP here. This is what I'm worried about. And while I think the price on the house may eventually go down, it doesn't seem to be priced that much lower (the house just came on the market). And I'm looking at the $1mill price range, which basically gets you one of those outdated 70's contemporary. I don't mind renovating, but I just don't have a vision as to how to renovate a dated contemporary. Other than replacing the metal stair railing, I'm just not sure what you can do.

[Anonymous]

Tell me where, I have to return my library books.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, a good friend explained it this way: her brother lived in a contemporary in NJ. They were relocating to DC. The market was a bit soft, but selling a contemporary made it that much harder. Just smaller group of folks willing to buy contemporaries.

Today's WaPo Sunday magazine focused on RE and the three homes featured were traditionals overhauled as contemporaries. I really like them but I always think of what my friend said about her bro's house.

OP here. This is what I'm worried about. And while I think the price on the house may eventually go down, it doesn't seem to be priced that much lower (the house just came on the market). And I'm looking at the $1mill price range, which basically gets you one of those outdated 70's contemporary. I don't mind renovating, but I just don't have a vision as to how to renovate a dated contemporary. Other than replacing the metal stair railing, I'm just not sure what you can do.

Remove the wall to wall carpeting, replace with poured concrete or something else exotic
Change staircase to floating stairs
Open up as many walls as possible
Replace track lights with 4" canned
Replace baseboard
Replace sliding doors with one large nanna wall

[Anonymous]

Contemporary homes are usually in higher price range, I'd say 2 mil on avg, because it's usually custom design and construction. Just this fact alone, makes them harder to sell, because in this price range there are lots of nice homes one can choose from and the number of buyers in over 2 mil price range is much smaller than in under 1 mil or between 1 and 1.5 mil. So, you are looking at expensive home to start with and all that goes with it, selling it might take longer.

We personally love the contemporary style, but it's out of our price range. Our best bet is to get a fixer upper, probably a rambler, simpler style and layout to work with to turn into a contemporary home.

[Anonymous]

I would LOVE me, but the style is generally out of my price range. So, I sit in my colonial.

[Anonymous]

Anonymous wrote:I would LOVE me, but the style is generally out of my price range. So, I sit in my colonial.

Ha! PP poster. Love my typo. Me= one. Multitasking at its finest.