Reply to HELOC for renovations

Forum Index » Money and Finances

Reply to "HELOC for renovations - downsides? "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Thank you for the response.

The bathroom is the original 1940s bathroom found throughout Arlington. Currently, the tub is broken and the only way to fix it is to break through the tiles. For personal enjoyment of fixtures that work, we are willling to gamble on the loss on this renovation just to have a working tub that isn't patched with mismatched tiles and using ancient fixtures.

The hardscaping is the orignial poured concrete front stairs, which list to the left at about 5 degrees and are cracked and broken.  The house sits on a hill so I think not fixing them may hurt us more than the loss on the repair, but could very well be wrong about that. I will ask the realtor as you suggest.

The roof could wait. It has been patched, so it just doesn't look that great. I think we would get hit with the loss that you are talking about with this one.

Finally, the neighborhood is doing well. As with many Arlington neighborhoods, we only have two styles of houses - colonials and capes, which makes the comparisons pretty easy. We have had 5 houses go on the market since the holidays. Two went FSBO through the neighborhood listserv, two sold over asking at their open house and the last one is one of the best homes in the neighborhood and they are asking more that $100k over the others, so it is sittting and obviously not priced correctly. I'm not sure if this makes our neighborhood "hot" but we do know that there are interested buyers.

Again, thank you for the time and effort that went into your response. You brought up great points and we hadn't considered asking a realtor about the comps. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics