This is a personal choice. I believe a home that is up to date in kitchen and bathroom will sell faster and possibly higher than an outdated home. Sometimes this can be as simple as changing lighting or upgrading an appliance. Also it depends on where you live. If the other homes in your area have been upgraded then you might want to think about doing more.
Uttimately, YOU have to decide what is right for your budget. The most important thing is having things clean and GET RID OF CLUTTER.
Good Luck!
Beth Seifart
Keller Williams Realty - Leesburg, VA... more
EVERYTHING IS NEGOTIABLE!
I myself have gotten incentives from developers like Toll Brothers and The Clarett Group. Negotiating price with developers at times can be like pulling teeth, it's tough, but it can be done. On prime, new properties, even harder.
You see alot of incentives come out when sales begin to slow down, like in August. New home builders will give incentives like a term of free maintenence, tax breaks or pay closing costs. I myself have gotten bonuses for putting deals into contract when sales got low for some developers.
It's always good to ask if there are any incentives in place...
It can save you some money!
Luke Constantino
Realtor
REMAX NEW YORK
(212) 300-3919
lukeconstantino@gmail.com
261 4th Avenuue, Brooklyn NY 11215... more
Hi, I've never ever seen or heard of a buyer walking away from a home because it didn't even have a microwave. In fact, I've never had anyone tell me it is something they are looking for when purchasing a home. I guess every agents answers will be different here but I would focus on the condition of the kitchen overall. In speaking with people in general, I'm finding that more and more people are using microwaves less because of the negative waves they emit. As long as the space is functional let the new purchaser or tenant decide if they want to have one on the counter.
Chris... more
Assuming you have a legitimate complaint--assuming you have something in writing with the original contractor?--I disagree with anyone who tells you to write it off as a loss you can't recover. Sometimes you can recover and usually it is worth trying.
Put everything in writing going forward. Writing, writing, writing!
Look up "demand letter" on the internet. You can start by writing the contractor a letter explaining everything. Send the letter certified mail. I've done this, sometimes that's all it takes.
If the loss is less than $5000, you can sue in small claims court representing yourself. You can apply online to do this, it costs about $35 to apply. I've done this in New York City. For more than $5000, you need an attorney.
Another thing is to contact a bill collection type attorney who will work on a contingency. So, if you are owed $4000, if the attorney succeeds, the attorney keeps anywhere from $1000 to $2000. I've done that, too. The great thing about this is it's so easy, you just hand the problem over to some one else and go on with your life.
Sometimes people like this hope you will just go away. When you don't just go away, eventually they find the money and make good. It really depends on the situation.
One final thing--Some people love to hire unlicensed contractors to "save money." It's a foolish thing to do for many, many reasons. This is just one of the many things that can go wrong. A licensed contractor has a license on the line and that could be revoked. We have licensing for a reason--to protect consumers--and the small amount extra it costs is well worth it.
Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
New York, NY
212 688 1000x146... more
Dear micort1:
There are several other factors that come into play which will determine if it is legal for you to make said alterations. In order to find out what you can or cannot do you need to speak to an architect. If I can be of further assistance, please let me know. Good luck!
Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
You should retain a licensed architect and the permitting takes from 1 month to year depending on which authorities have jurisdiction (DOB, LPC, etc.) and exactly what you are asking for and if it falls under current zoning or not.... more
Yes it can. To expand on what Jonathan said, you'll need to make sure the property is "self-sufficient" by taking the estimated market rent of all the residential units (even the one you'd live in), subtract 15% (or your applicable vacancy factor for your area for FHA financing) and that has to be greater than the principal, interest, taxes, insurance and PMI.
Keep in mind that the property may qualify based on it's unit count FHA still has the right to reject a property for it's commercial appeal. If the property's foot print is large enough and the property could arguably be better used for commercial purposes with the residential as an afterthought (a warehouse district for instance with four units on top of a commercial space). Even though technically you'd have the sq ft necessary to call it residential, the underwriter may call it suspect and forward to a HUD appraiser for review (I had this happen so that's why I know about this). If they say the commercial appeal outweighs the residential appeal, it'll be denied.
I have seen a few instances where something in the commercial space presented a health or safety issue for the residential space and that very limited scope of work was acceptable but otherwise no repairs can be done.... more
Dear Niliwear:
First you have to make sure you can even do it in the first place. You have to look at the zoning to see if a three family dwelling would be permitted. You need to speak to an architect and maybe even a lawyer to help you. The legal cost of the conversion alone would be about $10,000 in Brooklyn and that does not take into consideration any physical changes that you would have to make in order to do the conversion. There are many safety codes a three family has to meet that a two family does not. All along the process the city will also have to come and inspect and if anything is not to their liking you will have to fix it. It may open a big can of worms.
Also, if you want to add another heating system, it has to be done by a licensed plumber/electrician and you are talking about $5,000 minimum and you also have to have enough space to do it. It would be a lot easier just to purchase a legal three family.
If you need a recommendation, I know some architects and lawyers if you need. If I can be of further assistance, please let me know. Good luck!
Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
The cost really varies depending on the type of space. I'd suggest you look at the recent cost/value report for your area. It typically outlines the cost of the most common additions. Good luck.... more
Jack is correct and if the percentage is stated in your. House Rules or Bylaws(80% is common) then file a written complaint with your management company.
If your building does not have a management company file your complant directly with your Board of Directors.
Best
Richard I. Buff... more
Why not shp around, you'll have to choose the carpet and type, color, etc...or are you looking for someone to install....if so check with the store where purchased....
http://www.superpages.com/yellowpages/C-Flooring/S-NY/T-Brooklyn/... more
A company that has an excellent reputation both at restoring and installing wood floors is Verrazano Flooring. There website is http://www.verrazanoflooring.com/verrazano/asp/default.asp.
Good luck with your purchase. Make sure that you have the permission of your coop to install the floors and follow the house rules regarding work times, etc.... more
Thanks to all who answered my question about the condo washer and dyer problem. It was taken care of because of all the answer and solutions to the problem I received on it . thank you, thank you thank you All.... more
For accurate information as to costs involved, do contact a few local licensed contractors and ask for estimates--then choose the one that best suits your needs.
Hello Johanna:
I am a licensed, insured and bonded contractor located in New York State. My existing and prior projects include new construction and gut rehab. I am able to handle any construction project through all phases of rehab including 203k loans. I am professional and to date have no complaints made against my firm because we understand the importance of completing projects on time and within budget. If you are still in need of a general contractor we welcome the opportunity to work with you. For more information please contact me at:
mr_real_estate@ymail.com... more
I've sold about a dozen homes that required 203K loans and I've recommended one contractor to my buyers. Most chose him based on his estimates and all have been happy with his work. Send me a message for his info.... more