Renovating a "shithouse"
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Anonymous
| Anyone else in this position worry that after spending all that money you're still just "polishing a turd" so to speak? We bought in our neighborhood because we wanted a short commute but it's not what I pictured as our long term family home. The renovation will make it nicer but it will still be an old, small house at the end of the day. Anyone else in this situation? What do you tell yourself? |
Anonymous
| How big is the house? Are the schools decent? Don't beat yourself up so much about where you bought. My husband does this frequently, and it gets frustrating. |
Anonymous
|
OP, there are several calculations that you should do before you make a decision:
-value of your current home -value of the homes around you -number of years you would stay in the home (if renovated) -cost to move (in closing fees and taxes) -features of a home that you don't have, but would like -price of a house that had the features you wanted -cost to renovate (architect fees, permitting, contract price, extras like cabinetry, lighting, appliances, cushion for overages) -how much you could sell the house for, post-renovation There is such a thing as "overbuilding" so you're asking a valid question. |
Anonymous
2500 sq. ft. Dutch colonial which isn't my favorite look. Very small lot - 1/4 acre. Decent schools so at least that is a relief. |
Anonymous
| I'd be thrilled with that size house. |
Anonymous
It's not bad but when I think what we could afford in our Midwestern hometowns for that amount of money... but as we all know prices are kind of crazy here. |
Anonymous
I think a shitshack tear down is the best option. You have a 2 story colonial which should be ok to be renovated granted the 2500 SF is a bit on the smaller side. I vote ok to renovate. |
Anonymous
Well our renovation budget is 150k which will not stretch to cover a tear down so that is good, lol. |
Anonymous
Yeah, but then you'd be living in your midwestern hometown and "paying" in some other way. Here, you "pay" by having a smaller house, but hopefully you are gaining in other ways by living here. If you lived in our midwestern hometown, you'd gain a bigger house, but give up other things. I assume on balance you are better off here, or else you'd be living there. I am so tired of people's "need" for 4000 square foot houses. You bought the "shithouse" because that's what you could afford close in. If you "need" something bigger, then move. If you don't need it badly enough to make a long commute worthwhile, then quit bitching. You made your choice, now embrace it. There are plenty of people who can't even afford a "shithouse." |
Anonymous
think how lucky you are compared to what you would be able to afford in Geneva, Zurich, HK, Tokyo, or Singapore. |
Anonymous
| or London |
Anonymous
| Where is this house located? 2500 sq ft and quarter acre are both sizeable in the close-in parts of the metro area. |
Anonymous
Seriously, I know quite a few people with $1.2M houses that aren't 2500 square feet. |
Anonymous
2500sf is plenty of room. Jeez. |
Anonymous
sounds depressing |