COLLECTION OF OPINIONS BY BROKERS IN THE AREA. BUYER BEWARE!
BIG DIFFERENCE WHEN BUYING AN OLD FRAME 2F. HOME, MAYBE 100 YEARS OLD BY NOW, AND OR BUYING A YOUNG BRICK 2 FAMILY HOUSE, ESPECIALLY IF IN THE SAME PRICE RANGE!
DO WE REALLY HAVE TO WRITE ABOUT THIS TO INFORM BUYERS? YES WE DO.
If you are shopping for a two family today in the Maspeth areas be especially aware of buying a home that maybe 100 years old.
1) old wiring 2) oil tank 3) floors in basement may have rotted wood floors 4) old plumbing 5) old termite manifestation 6) antiquated basements, kitchens and bathrooms 7) the smallest master bedrooms ever built-can not fit Queens size bedroom sets 8)usually a party drive which could be a nightmare with your neighbors 9)old roof 10) besides your down payment of possibly $300,000 dollars you need an extra $100,000 dollars to do all the renovations that are needed in the house.
So if you the buyer have a choice to buy a 2 family that is brick vs Frame either bring a contractor with you, an Engineer with you, before you make an offer on the house.
IF BOTH HOMES ARE ON THE MARKET FOR EXAMPLE PURPOSES-$850,000 EACH OR $950,000 EACH THERE SHOULD BE NO DOUBT IN YOUR MIND TO GO WITH THE NEWER TYPE BRICK HOME VS A FRAME HOME.
CHEAPER INSURANCE, NO MONEY FOR UPDATING, AND QUEENS SIZE BEDROOMS, THEREFORE MAKING IT EASIER TO RENT AN APARTMENT.
MASPETH HAS MANY OLD HOMES BUT THERE ARE YOUNG BRICK TWO FAMILIES AVAILABLE THAT ARE IN MODERN CONDITION, FOR JUST ABOUT THE SAME PRICE. IF YOU SEE AN OLD FRAME LIKE A REAL HANDYMAN SPECIAL, WHY WOULD YOU OFFER A HIGH PRICE WITH ALL THE NEGATIVES THAT COME WITH THE HOUSE.
HELPFUL HINTS FOR THOSE THAT REALLY NEED HELP!