WWYD - House with a ton of work

[Anonymous]

You might not know what you’re getting into until you start tearing things down. My neighbor’s house was bought last fall by a flipper who was very confident of making a quick profit. The home has been sitting for months now. I ran into the flipper the other day and asked what was going on. It turned out that there was a mold issue that requires very extensive remediation and he won’t be able to sell this year as planned.

[Anonymous]

Anonymous wrote:This is in Falls Church City and this house is a tear down. My husband's mold allergy lit up immediately. It's a mess in person!

Except it isn't priced as a tear down

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.zillow.com/homedetails/997-N-Sycamore-St-Falls-Church-VA-22046/12230412_zpid/?utm_source=nativeshare_activation_v1

Interesting. That house is definitely funky, but does it need to be renovated? It’s a little ugly, but I was imagining something far mor dilapidated.

With the exception of one kitchen and bathroom it hasn't been updated since the 70s. Even if you don't want to renovate right away it's about 30 years overdue for updates.

[Anonymous]

Anonymous wrote:Sound like it should be a teardown once the price reaches the appropriate number

This.

Renovation costs 1.5x to 2x more than new build -- per sf.

[Anonymous]

I don't object to the aesthetics of the house. It's outdated but still functional. There is nothing that screams you have to update me in order to live in this house.

I do think the flow of the house is very awkward. I wish they had enclosed a floor plan in the listing pictures.

For a short term buyer, this is a lot to take on. If you're a long term buyer, buy for the location, everything else can be updated at some point.

[Anonymous]

It’s going to cost more than 250Ko

[Anonymous]

Anonymous wrote:I don't object to the aesthetics of the house. It's outdated but still functional. There is nothing that screams you have to update me in order to live in this house.

I do think the flow of the house is very awkward. I wish they had enclosed a floor plan in the listing pictures.

For a short term buyer, this is a lot to take on. If you're a long term buyer, buy for the location, everything else can be updated at some point.

I bet not including the floor plan was a deliberate choice.

[Anonymous]

I visited this home during an open house months ago. It is actually worse in person than in the photos (which I had thought weren’t too bad and were intriguing enough to check the place out). The overall feeling I got from the interior was that there was a ton of poorly done DIY and it would be a money pit to fix. It just did not feel like a safe place to stay. My kindergartner, who was with me, pointed a lot of things that were weird and seemed “sus.”