Is this a good price for renovations? **UPDATED - page 2**
Our apartment just told us that they are turning our complex into condos (great for us...we won't have to move)
they are making upgrades to each apartment, but say they will take off $5000 if we stay in the unti 'as is' (which is nice...not fabulous)
So we were wondering should we take the upgrades (possibly get 'kicked' out of our apt for a week)
OR
not (lower resale value)
OR
do our own upgrades? (not if this is a good deal)
------------------------------------------------------------ keep in mind that these are probably not the high-end...but nice materials *new granite counter tops (love this one) *new plumbing faucets *new light fixtures *new elongated toilets (lol...I can't help but smile when I read that - what does it mean?) *new front door *designer two-tone painting *new carpeting *new ceraminc tile flooring in kitchen, bath, entry *acoustic ceilings scraped and replaced with smooth finish
Sonicstef
Posted:
Member since
Re: Is this a good price for renovations?
$5K for all of that??? Absolutely that is a great price. Take it!
KarenG
Posted:
Member since
Re: Is this a good price for renovations?
That IS a great price!
Get a more detailed work letter though - especially regarding the grade of carpeting and tile.
(a 'work letter' is a detailed list of improvements that specify the brand and quantity of the work they will provide)
Fran M
Posted:
Member since
Re: Is this a good price for renovations?
That sounds like a great price. Maybe they will have a showcase unit you can view before commiting. What about kitchen cabinets and appliances?
Just keep in mind if most of the apartments are renovated and yours is not it could be the deciding factor for a potential buyer down the line.
it says nothing about the kitchen cabinets :( Which are OK...but look a bit old...
I think they are redoing the model as I type...this morning I saw them take all the furniture out of the model (2 doors down from us) that they use to get people to rent...
I hope it looks nice...and we can buy it soon...b/c I don't want to pay rent anymore..
ChristineC68
Posted:
Member since
Re: Is this a good price for renovations?
That sounds like a great price! I hope it works out for you!
Teri
Posted:
Member since
Re: Is this a good price for renovations?
wow - congrats! How great for you guys!
I agree - $5K does sound like a great price.
you crack me up with the elongated bowls - I don't really get them either - longer ones are more luxurious in some way?! Who knows!
I should say...that its not $5K...but if we choose not to get all that stuff we save $5K on the purchase price...
plus...there are probably 250 units...they must get a discount...rather if we were going to do it alone...
ChristineC68
Posted:
Member since
Re: Is this a good price for renovations?
Well, here's a picture of the elongated bowl
I still think it's a good deal, you wouldn't be able to do all those upgrades for $5,000.00 down the line. Plus you would have the repsonsibilty of getting licensed & insured contractors to do the work. I would think if you go through the complex, they are liable for all this work until you actually purchase the unit.
Valenia
Posted:
Member since
Re: Is this a good price for renovations?
Just something else to consider -- what about purchasing a different unit then the one you live in? If there are 'better' locations you may want to think about that on a purchase more then you would have considered for a rental. Moving within your building would be relatively cheap.
Anyhow, to answer the question you actually asked, I think the upgrades sound great, and them being a part of your purchase price is a huge advantage -- part of your tax-deductable mortgage...
mlp924
Posted:
Member since
Re: Is this a good price for renovations?
Take it and run! The counter tops alone could run you 5k. It's a stealllllllll
mo...I know...I love granite counters...never thought Id see them this soon!!!
velenia...thats an idea...although we love exactly where our apt is...it has a great view...and is 30 feet from pool, hot tub and gym (there are others with views...but not close to the ammentities...unless one of our neighbors don't buy their unit) keeping our apt also saves on moving!! even next door
Christine...It looks like a regular toilet...never knew there were different lengths...I thought a toilet was a standard size...
live and learn...
ChristineC68
Posted:
Member since
Re: Is this a good price for renovations?
I thought so too until I once got a toilet seat that was shaped differently and smaller then the bowl that I had. Why oh why do they have to mess with everything??? Can't anything be standard??
It sounds like you are in a prime location in your complex!
allure
Posted:
Member since
Re: Is this a good price for renovations?
I would do it in a heartbeat
Lisa Rose
Posted:
Member since
Re: Is this a good price for renovations?
GO FOR IT!!!
What great luck you have!!
Cira
Posted:
Member since
Re: Is this a good price for renovations?
I would go for it. I love the elongated bowl (I have one) and the granite top.
ILT1221
Posted:
Member since
Re: Is this a good price for renovations?
Goodness! I wish someone could do all that work to my house for 5K. Take it!!! Someone had a great point that if your apartment is not renovated and another one is...it could be the deciding factor when you sell it down the road.
