We hope you’re enjoying our series on how to avoid the 9 Common Mistakes Buyers Make. Here’s the next installment:
Mistake #4: Being Unaware of Renovation Costs.
Most New York City townhouses need work, even if it’s just a new kitchen and baths. So, how can you knowledgeably bid without knowing your other cash costs? Will your criteria result in a $50, $100 or $150 thousand dollar kitchen? For a complete renovation, do your tastes and savings allow for $180 or $450 per square foot or something in between? Have you looked at the quality of finish work in a townhouse where the renovations cost $220,000 per floor? Note that you can get renovation money from your bank as part of your initial purchase mortgage. One way to educate yourself is to attend Vandenberg-sponsored BRC events. We invite guest speakers such as architects, contractors, engineers, and elevator experts to speak at these free seminars.
Need Solutions? Want your townhouse purchase to run smoothly?
Call Cathy anytime at (212) 769-2900 or email her at cathy@townhouseexperts.com.
Next up in this series: Mistake #5: Not selecting the right New York townhouse broker.
