Home Buying in Winchester>Question Details

Dmk, Home Buyer in Winchester, MA

I am planning on buying a two family home in Winchester, MA and converting into a single family home.

Asked by Dmk, Winchester, MA Tue Apr 27, 2010

By this conversion would we enhance the value or diminish the value?

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Answers

7
Joan Barker’s answer
HI Dmk,

The best avenue to take is to do an anaylsis of what the highest and best use of the property is. That takes zoning, income and potential value into account to give you the best outcome for the potential value of the property. Typically a multi family home has more value than a single family, however every situation is different. Hope this helps Joan at 617-216-7455
0 votes Thank Flag Link Thu Oct 4, 2012
Each situation is different, and it is impossible to answer the question without understanding all of the details. First of all, the answer to your question depends on whether you plan to live in the home as your primary residence, and enjoy the use of the home, or whether you are planning to convert the home with the intention of selling it for a profit. And location is a key factor, as many of the other agents have already mentioned. Hope this helps, but you really should contact an agent who is familiar with the community as he or she could best advise you.
0 votes Thank Flag Link Sat May 19, 2012
It depends on where the house is. I can take a look and give you my professional opinion. Give me a call or email me...Danielle DeVarne Century 21 Commonwealth, MA Cell: 508-769-9455
0 votes Thank Flag Link Wed Sep 1, 2010
It depends on where the house is. I can take a look and give you my professional opinion. Give me a call or email me...Danielle DeVarne Century 21 Commonwealth, MA Cell: 508-769-9455
0 votes Thank Flag Link Wed Sep 1, 2010
A lot would depend upon the property and the abutting uses. Typically you see the opposite, converting a single family dwelling into a two family to increase the property value. Nevertheless, I have seen it worked the way you describe. Just not often.
0 votes Thank Flag Link Tue Aug 31, 2010
Hello Dmk- It all depends on the neighborhood (and the town...). Generally, there are not many 2-family buildings in Winchester, and if the neighborhood is all single families, then in fact you may be increasing the value a tad- if of course it is a professional and good conversion/ rehab.

In some areas, 2 families are selling for less than single families. If you'd like to contact me with an address and more info- I can try to help you further.
Thanks and good luck,
Ken L.
0 votes Thank Flag Link Sat May 1, 2010
Why would you do something like that? You almost certainly would diminish the value.
0 votes Thank Flag Link Wed Apr 28, 2010
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