Total Renovation
Im looking for apts in South Boston, and many are considered 'total renovation'. what can this mean, what are the varying degrees of renovation?? Also, is it unrealistic to think a bid of 250k for a condo listed at 300k would be taken? thanks for the help.
Well, being from mass, you ought to know about all the construction and modifications going on in the city. I hadn't been up there in a while, and was on the way to a red sox game, could get there, and missed the 1st 5 innings!! ugh. anyway, total renovation most likely means that, either old, malfuncitoning appliances, bad paint, needs floors to be redone, possibly plumbing and electrical work. depending where in soutie the property is located, the prices of condos are as much as a house down here in lakeville, because of the location. and the best you could probally talk down would be 285 if your lucky, it all depends on the area, and how flexable the seller is, and how motivated they are to sell. It may be in a bad section and they will take a lower bid. I would research a little, find out what condo's are going for in the area that are brand new in a sense, meaning all renovated, and compare the two figures. find out what rehab needs to be done, how much it will cost, and determine if its even worth pursuing. Boston market is high and tough to get into, but if you can, the possibilities are endless!! You may be able to fix it up and rent or lease it to college students.
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