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So i managed to snag a Mitchell Lama apartment in the Bronx after only being on the waiting list for 2 years. I decided to buy the apartment instead of renting with the option to buy. Its a great place with security and nice views of Yankee Stadium, Upper Manhattan, all the way to NJ and wonderful sunsets. Huge balcony like any ive ever seen
So here is my conflict. The floor tiles, bathroom tiles, kitchen cabinets, and light fixtures are all dated with looks of the 1960s.
The purchase price was about $20,000.
If i want to change change all the dated stuff it will cost allot. Redoing the kitchen with new cabinets alone will cost about $5000 for parts and labor, replacing the floor tiles and bathroom tiles will cost about the same bringing the cost to a little above half the cost of the apartment.
Knowing that if i decide to move in the future i can only sell it back for the initial purchase price, is it a good idea to spend about $10,000 to redo the apartment?
I hate my floors (brown Vinyl-asbestos tiles from 1975) and a kitchen with the ugliest cabinetry imaginable. A bathroom with the yellowest tiles every made. I have done a lot of small stuff (light switches, ceiling lighting, shelving, wall mounting TV's, some designer painting, new AC, new faucets, toilet) but even though I will probably die here, I don't know if I can live with the chaos of big renovation like floors, kitchen and bath.)
Im there for the long haul as the commute to work is under an hour by mass transportation and lots of shopping areas around in walking distance. I have not moved in any major furniture or appliances yet so the place is pretty empty. I was just conflicted with putting in $10,000 into an apartment and it wont increase the overall value but i guess its more of a life investment knowing spending $30,000 to live out my life there while having something others will pay 3 times as much is more than enough reason to remodel it.
If your in it for the long haul and have the money, without going into debit do it!
In this city, nothing is more important then having your happy sanctuary, aka your home.
Make it a way you like and can happily enjoy spending time there.
Is this CONCOURSE VILLAGE you moved in to?
I used to live right down the street. I always wondered about those co-op's and how living in them was.
If your in it for the long haul and have the money, without going into debit do it!
In this city, nothing is more important then having your happy sanctuary, aka your home.
Make it a way you like and can happily enjoy spending time there.
Is this CONCOURSE VILLAGE you moved in to?
I used to live right down the street. I always wondered about those co-op's and how living in them was.
Yes. The 1 Bedroom apartments that face outwards are huge for a single person and so is the balcony. I didn't expect it to be as long as the entire apartment. Great security as there are cameras everywhere outside and inside the building with 24 hour attended lobby. Each building has its own laundry room with lots of washers and dryers. I like how they changed the upper level parking lot, there use to be a catwalk going across it from the west side to the east side with a guard booth in the middle but seems that they took it out quite some time ago so it no longer looks like a prison yard .
The only think i do not like is the noise due to the construction of building new buildings on Concourse Village West next to the school, Lincoln Hospital is right there so ambulances race down Morris Avenue and 161 street. Then there is the metro north that run along side park avenue, where they seem to have an obsession with using the horn despite there are no street crossings and they are not stopping at the Melrose stop, and now im hearing rumors of them tearing down the building next to the Twin Donuts to build a homeless shelter
But at the end of the day I really like stepping out onto the balcony to see the sunsets, the Stadium, and parts of Manhattan while sipping some good red wine
Yes. The 1 Bedroom apartments that face outwards are huge for a single person and so is the balcony. I didn't expect it to be as long as the entire apartment. Great security as there are cameras everywhere outside and inside the building with 24 hour attended lobby. Each building has its own laundry room with lots of washers and dryers. I like how they changed the upper level parking lot, there use to be a catwalk going across it from the west side to the east side with a guard booth in the middle but seems that they took it out quite some time ago so it no longer looks like a prison yard .
The only think i do not like is the noise due to the construction of building new buildings on Concourse Village West next to the school, Lincoln Hospital is right there so ambulances race down Morris Avenue and 161 street. Then there is the metro north that run along side park avenue, where they seem to have an obsession with using the horn despite there are no street crossings and they are not stopping at the Melrose stop, and now im hearing rumors of them tearing down the building next to the Twin Donuts to build a homeless shelter
But at the end of the day I really like stepping out onto the balcony to see the sunsets, the Stadium, and parts of Manhattan while sipping some good red wine
Seems like a pretty good ML building. You'll get used to the noise. The outside noise didn't bother be too much. Its neighbors you have to be more worried about. Hopefully you will have kind, thoughtful neighbors.
You pretty much have everything you need in the area now. I sometimes wish I still lived in the area.
Homeless shelters are all in that area, people just don't know about them. And not all homeless shelters have jobless people who just hang out all the time. A lot are single mothers who have jobs just don't have an apt.
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