| For 300k I would think about teardown |
agreed. |
Would you be willing to give us your zip code anonymously, to provide context? I think it's terrible that people spend $2 million to live in a closet in the center of Tokyo and Hong Kong, but I don't go on their local fora to tell them they are stupid because 1. I don't know what the hell I'm saying since I've never been to either and 2. Clearly, that's the price the market will bear. |
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never been to Tokyo or Hong Kong (although I would love to). I have a much less adventurous life unfortunately and my zip code is (guess what?) 20015.
I doubt this house will sell at this price (but I am no expert and the market has been crazy in the past year with the low inventory). I have a friend who is looking for exactly this type of home (price/location) who did not even bother go see this house because of the price/amout of work (he can spend 1M and even a little more but he would not live in that house for that price). |
You can't. But you assume the wiring is shot and maybe you get a happy surprise, but those are rare in the renovation business. |
| one strange this about this home is that it appears it had a 2 story addition made in 2004. I find strange that owners spend $$$ to add a 2 story addition to a house, and after just 9 years the house looks in such bad shape. was the addition done on the cheap, or maybe the owners failed to maintain just in the last few years? |
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I'm the "kitchen is $100K easy" poster and I also live in 20015. We have done substantial work to our house.
Other things came on the market at that price point that were a lot nicer and they were gone pretty quickly. People don't seem to look for a house to work on anymore. They want it "done". Op indicated that she is such a buyer and wants the bulk of the work done before she moves in. |
| I just did my entire hall bath for like 2k 800 for labor which included installing a bathroom fan with venting to the outside. The toilet and sink was like 800 tile fan paint was 400 how are people spending 18k? |
It's a different market. They are using high end finishes. A Hansgrohe showerhead, for example, is $400. Add to that faucets for two sinks and tub, towel racks, toilet handle and you you've spent more than what you spent on your whole bathroom. An 18K bathroom could actually be on the modest side. http://shopping.yahoo.com/30127101-toto-ms854114sg-01-ultramax-one-piece-elongated-toilet-in-sanagloss-cotton-white-with-softclose-seat-ms854114sg-01/;_ylt=A0PDtsBZ3Z9RBGgAfAlv4rsF http://www.faucetdirect.com/rohl-wa652l-wave-single-lever-deck-mounted-bathroom-faucet-with-fixed-spout-and-metal-lever-handle/p1042385 ww.faucetdirect.com/kohler-k-14273-g-vintage-24-undermount-bathroom-sink-with-overflow/p218087 |
The rich in this area are stupid |
| Well, in 5 years, when you want to sell your renovated house for $1.8M, I'm going to look at it. And I'm going to see that you did a half assed job on the windows and I'm going to factor that into my offer. And I'm going to look at the Ikea kitchen you put in and think "this kitchen isn't a $1.8M home kitchen, it's a $1M home kitchen" and I'm going to factor that into my offer. And then I'm going to wonder what else you skimped on and wonder if I really even want this house that was so poorly maintained. |
Close - Connecticut - don't normally work in MA but could be talked into the Islands ?
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| You could more than live in that house as is and I would.....nice way to get into a decent neighborhood with a large house and a yard. |
is not the house, is the combination of house and price. I bought recently (although not in the past year) in CC and bought a house that needs some works (old kitchen, old bathrooms) but is perfectly livable, and we have been living in it. we just did not pay 1M. |