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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 10-11-2010, 12:21 PM
 
5,047 posts, read 5,802,909 times
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Just a thought. My dh and I are mulling the idea of buying a commercial property in Honesdale and turning the top floor into a loft/apt for us to use. The rest of the building would stay either commercial or residential ; whatever it is used for now.

Are we crazy? Could it be done? We love the idea of living in a small town and walking to the local stores etc.

Thanks for any opinions.
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Old 10-11-2010, 01:15 PM
 
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Quote:
Originally Posted by okaydorothy View Post
Just a thought. My dh and I are mulling the idea of buying a commercial property in Honesdale and turning the top floor into a loft/apt for us to use. The rest of the building would stay either commercial or residential ; whatever it is used for now.

Are we crazy? Could it be done? We love the idea of living in a small town and walking to the local stores etc.

Thanks for any opinions.

Most of the buildings downtown are in need of dire repair and in order to bring them to code for residential living . It would cost a MINT , And NOW sprinkler systems and fire escapes would be involved ..
Can it be done ? Yes

If you have LOTS of money

Good luck
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Old 10-11-2010, 04:32 PM
 
Location: Saylorsburg, PA
1,935 posts, read 3,143,753 times
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Quote:
Originally Posted by okaydorothy View Post
Just a thought. My dh and I are mulling the idea of buying a commercial property in Honesdale and turning the top floor into a loft/apt for us to use. The rest of the building would stay either commercial or residential ; whatever it is used for now. Are we crazy? Could it be done? We love the idea of living in a small town and walking to the local stores etc. Thanks for any opinions.
If the building has a business already occupying the ground floor then I would think you have a good deal. But if not then you could be waiting a while to rent it out since in this economy most business's are closing. Especially in NEPA.
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Old 10-11-2010, 05:51 PM
 
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I hope you have off street parking there , Cause parking can be a pain
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Old 10-11-2010, 06:21 PM
 
5,047 posts, read 5,802,909 times
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We were looking at the outside of buildings that are for sale this weekend. Yes, there is parking, yes, some of them have long term tenants. Yes, they are all older buildings. Now just to see the inside of them and the conditions.

Just wanting to know if people thought we were crazy. We do have some property in ny that are rented out so we are familiar with tenants etc. Often while watching the show ; rezoned, both of us have said wow, we would love to do that. Most of the buildings we were looking at are zoned for both residential(apartments) and commercial(stores etc.)
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Old 10-12-2010, 01:48 AM
 
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i would only do it if i didnt need the rent to make it work... business come and go with go being the operative word..

last thing i want to do when i retire is deal with tenants again.
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