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what about the impact of taxes to " the newest house possible."
NHP is value for money and worth spending money to upgrade and will always appreciate.
Just check price of a house in your neighborhood which has the features you want to add. If cp of your original home + reno cost is below then go for it.
My only suggestion is it is cost effective to go for one major reno including kitchen / bath / front / back than doing it in 2-3 stages.
But the only way this ever works out is by downgrading neighborhoods which must’ve been your case.
Def not a downgrade, Suffolk is just cheaper and I went from last town in Nassau from Suffolk to first town in Suffolk from Nassau. Basically the Asians with $$ are buying up everything and don't want Suffolk, what many don't realize is they are buying homes 5 min away from Suffolk. We had a bidding war went way over ask! My kids will suffer greatly going to HHH (sarcasm)
If I’m guessing correctly, I would much rather live in your previous Nassau town (Plainview)? And the price and school district ratings reflect that. It’s a myth that Nassau is more expensive and Suffolk is cheaper. Good towns in either county are just as expensive.
Thank you everyone, we bought this house for around 550k, previous owners had converted one bedroom into dining room, this is a old not updated cape, fully updated house in my neighborhood is going for $740k plus, so if I have to spend 200k in getting this updated, we might just move, I had called some estimates for just converting the attic into 2 bedrooms and got estimate from 50k to 220k, not sure now what to do and how to choose contractors, plus some friends are saying we cannot live in the house of renovation goes on, so confused
Unless there is some major compelling reason to upgrade in place it's easier to move. You might be able to find a place that fits your price range and amenities within a short distance away so there's little impact to your family.
Just stay. Buying and selling is a royal pain in the nuts in every way imaginable.
It's NHP. You'll make your money back as long as yiu don't go too ridiculous with the reno.
Pick a number. Shop contractors. Tell them "this is what I want to do with this amount of money". You may be pleasantly surprised with the outcome.
Def not a downgrade, Suffolk is just cheaper and I went from last town in Nassau from Suffolk to first town in Suffolk from Nassau. Basically the Asians with $$ are buying up everything and don't want Suffolk, what many don't realize is they are buying homes 5 min away from Suffolk. We had a bidding war went way over ask! My kids will suffer greatly going to HHH (sarcasm)
The Asians do not want Suffolk Coounty, because the Media keeps them informed of the MS-13 gang, that has been terrorizing that county......
Just stay. Buying and selling is a royal pain in the nuts in every way imaginable.
It's NHP. You'll make your money back as long as yiu don't go too ridiculous with the reno.
Pick a number. Shop contractors. Tell them "this is what I want to do with this amount of money". You may be pleasantly surprised with the outcome.
Thank you everyone, we bought this house for around 550k, previous owners had converted one bedroom into dining room, this is a old not updated cape, fully updated house in my neighborhood is going for $740k plus, so if I have to spend 200k in getting this updated, we might just move, I had called some estimates for just converting the attic into 2 bedrooms and got estimate from 50k to 220k, not sure now what to do and how to choose contractors, plus some friends are saying we cannot live in the house of renovation goes on, so confused
It depends on your tolerance for chaos and exactly what you are doing and when. If all the reno work would be done in a currently-unfinished attic, which means the majority of the to-and-fro/chaos will be taking place from the front door straight up the steps into the attic, it shouldn't be totally intolerable. With a little luck you may be able to hang plastic and basically create a tunnel, LOL. The plumber and electrician will need to get into the basement (that I assume you have) to run the new plumbing and electrical lines but once that's done, it's not impossible to live in the house as long as the weather is temperate enough to be able to open windows. The biggest gamble would be if they have to re-do the roof framing and get it closed in so that you won't have to worry about rain but that's what tarps are made for.
If you have young children and/or pets it will be more challenging but it's do-able if you can corral them in a room out of the way.
If you work fulltime you will want someone you trust to be there while the work is going on. IMHO just letting the crew in at 7 a.m. and leaving them to their own devices until 4 p.m. every day is not anything I would ever be willing to do.
Notice that I said that living amidst a major renovation is do-able, not "desirable." I admit that I have made sure that we did all major renos before moving in to any of the houses we bought, LOL. The biggest thing we redid while actually living in any of our houses was a half bath in the lower level of a high-ranch. I have zero tolerance for spackle dust, tile dust, and the general filthiness that any major renovation creates, but many of my friends can and have dealt with it not once but multiple times.
IMPORTANT: Make sure you realize that any renovation will begin later, and last longer, than the contractor originally tells you it will. That is apparently a Law of The Universe. "Two weeks" is one of those funny jokes that only contractors understand.
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