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Old 02-03-2012, 08:18 AM
 
9 posts, read 26,144 times
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currently, does it make sense to do repair work on a house in chappaqua? does that answer vary if you are planning to rent or sell? does anyone have an opinion on the average increase in home prices (existing and new) in the next year, and in the next 2 years?

thank you.
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Old 02-03-2012, 08:22 AM
 
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What makes you think home prices will go up in value?
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Old 02-03-2012, 09:06 AM
 
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Home prices in Chappaqua were going down for a while, although they seem to be levelling off.

All I know is that the guy who sold me my house bought it in 1998 for 350k and sold it to me for 2 times as much back in 2008.

If I had to say whether prices will go up again soon, or not, I'd bet going up. The NYC real estate market bubble has yet to burst, and people will soon be looking to move out because renting and buying there is becoming simply unbearable.

Now, if your dilemma is to either buy and fix and then sell, or not, I'd go with the not. I do not think you will be getting a return on investment in the short term. If you can buy something that is ready to move in or requires minimal work.
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Old 02-03-2012, 01:00 PM
 
Location: Bellevue, WA
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Depends on what needs to be repaired. If it's going to be more expensive to fix later, by all means do it.

Nobody has a crystal ball, but in general repair when it needs to be. Postpone renovations if you must, but I always laugh when I see people renovating immediately prior to sale. Enjoy it a while at least.
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