Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
But the prices are realistic and the sellers know it. So they hold out for as close to asking price as possible.
P.s: NYC's older homes are great value. They are well built. Buyers get a much better value buying and renovating their kitchen and bathroom themselves than buying an investor renovated house. I saw two investor homes being built recently. None had a beam. The top floors were supported by the framing of the rooms on the lower floor. If a buyer comes in and starts opening walls it will be a disaster.
The investors also uses day laborers who cut corners or don't know the correct way to do things. One investor told my husband in conversation that he is looking for a good carpenter and contractor to renovate his house. He said he wouldn't let the crew who worked on his flipped houses touch his personal house. He had sold over 6 houses in the previous 12 months when he said that.
Correct, the prices are realistic if people are paying them. NYC is 100% a seller's market.
And yeah, my house was built in 1935 and you can see the level of craftsmanship.
But the prices are realistic and the sellers know it. So they hold out for as close to asking price as possible.
P.s: NYC's older homes are great value. They are well built. Buyers get a much better value buying and renovating their kitchen and bathroom themselves than buying an investor renovated house. I saw two investor homes being built recently. None had a beam. The top floors were supported by the framing of the rooms on the lower floor. If a buyer comes in and starts opening walls it will be a disaster.
The investors also uses day laborers who cut corners or don't know the correct way to do things. One investor told my husband in conversation that he is looking for a good carpenter and contractor to renovate his house. He said he wouldn't let the crew who worked on his flipped houses touch his personal house. He had sold over 6 houses in the previous 12 months when he said that.
All good, but who has 20% down plus reno money nowadays? That could be $200K easy in some cases.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
All good, but who has 20% down plus reno money nowadays? That could be $200K easy in some cases.
You don't need to put down 20%. You can put 10% and get a conventional loan. The difference in monthly payment is minimal. A kitchen reno is 30k to 40k. Bathroom 15k. But you know exactly what you are getting and you design to your taste.
The rest is painting the walls and staining and varnishing floors. Most old houses have beautiful wood floors.
Oh and what's with all the chrome on the new houses? Just my opinion, but I think it looks extremely tacky
Tacky is not the word!!! Uggghh. Between the chrome and the pvc fencing that will discolor and start leaning in 3 years. I think people like throwing away money. Why put an ugly additiin to your house that adds no value?
Tacky is not the word!!! Uggghh. Between the chrome and the pvc fencing that will discolor and start leaning in 3 years. I think people like throwing away money. Why put an ugly additiin to your house that adds no value?
Yeah, how can the people who design these houses built possibly think that looks good?
Have you seen those fugly 4 family houses going up in Southeast Queens? They mostly look the same and are hideous
You don't need to put down 20%. You can put 10% and get a conventional loan. The difference in monthly payment is minimal. A kitchen reno is 30k to 40k. Bathroom 15k. But you know exactly what you are getting and you design to your taste.
The rest is painting the walls and staining and varnishing floors. Most old houses have beautiful wood floors.
Painting is approximately $500 per room.
My house is a million years old and the kitchen and bathroom were fully functional, my mom spent a few thousand dollars on some changes just because she's picky. Aside from the appliances, I'm pretty sure neither the kitchen or bathroom have been updated in a very long time before we moved in.
Yeah, how can the people who design these houses built possibly think that looks good?
Have you seen those fugly 4 family houses going up in Southeast Queens? They mostly look the same and are hideous
People buy them. So they will keep building them. One guy who bought one of these fugly, new, 2 family houses said he didn't want a house that anyone previously used the bathroom. As if to imply he is fancy like that. People are weird. Spend more money on an inferior built house when a spanking new toilet cam be had for $200.
People buy them. So they will keep building them. One guy who bought one of these fugly, new, 2 family houses said he didn't want a house that anyone previously used the bathroom. As if to imply he is fancy like that. People are weird. Spend more money on an inferior built house when a spanking new toilet cam be had for $200.
What a weirdo.
I don't mean to sound politically incorrect, but are the people designing these houses not American born? I wonder if contractors from certain countries like things like chrome railings and PVC fences.
I don't mean to sound politically incorrect, but are the people designing these houses not American born? I wonder if contractors from certain countries like things like chrome railings and PVC fences.
It is being cheap and lacking good taste. They won't spend $1000 on a designer/landscape architect that would help them actually increase the value of their property. Landscaping your yard and putting an eye catching front door or front window would cost half the price of these chrome and pv fences. It would also improve the overall aesthetic of the house and neighborhood.
They go to the store and see the pvc/chrome fences. U just need one person to install it, then another gets fence envy. Before u know it these fences are spreading like the plague lol.
Add the folks who concrete their yards to avoid cutting the grass. Just tacky!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
