Renovate to sell Brooklyn Propect Crown Hts
Started by Flutistic
over 10 years ago
Posts: 516
Member since: Apr 2007
Discussion about
I know I am lucky to have such problems, but I would appreciate any thoughts on this: We own a duplex condo unit in a 2006/7 Brooklyn building. The master bath lacks a tub, making our convertible 3 bedroom not great for families; the only tub is down a formidable stairway. The Caesarstone kitchen counters were chipped up quite a bit by the previous owners, whose other damage has been repaired by... [more]
I know I am lucky to have such problems, but I would appreciate any thoughts on this: We own a duplex condo unit in a 2006/7 Brooklyn building. The master bath lacks a tub, making our convertible 3 bedroom not great for families; the only tub is down a formidable stairway. The Caesarstone kitchen counters were chipped up quite a bit by the previous owners, whose other damage has been repaired by us already. The unit has appreciated about $200,000 in the year we have owned it, and we've put $40,000 into improvements/repairs to date. I was thinking of spending another $50,000-$60,000 on renovation to ensure quick easy sale in 2-3 years, but I'm beginning to wonder if the market is softening so much, that we have no hope of ever getting that back. I would enjoy the improvements during that time, but I like money in the bank too. Plan has been to gut renovate the master bath, add tub, with modest-nice (Koehler) finishes and replace counters with soapstone, redo backsplash and maybe kitchen appliances. Thanks in advance! [less]
The market peaked last Friday.
Only do renovations that make sense for you while you live there.
Hehehe, but actually I think you're right. New apartments are pouring into this area, it seems every day another neglected building gets the construction fencing and the demo truck....some of these must surely be condos/townhouses.