Ditto to Eddie89. People are pricing fixers in-line with comps of fully rehabbed places. Makes sense, they ain’t gonna give it away. Plus, many with a “vintage” house can’t appreciate the true cost of remodeling. People always seem to forget the cost of carry. If you go big like this del mar one, add the cost of the loan, and taxes and insurance for 12-18 months to the GC’s bill (bid price plus 15% or more). In many cases it makes total sense, but tread carefully and, of course, Get Good Help.
The problem I see though is that many “fixers” are turn-key priced!
$650K and it needs lots of work!
Forget that!
I didn’t see a remodel. It looked like a brand new house.
Shop very carefully, and get good help!
“remodel”
Ditto to Eddie89. People are pricing fixers in-line with comps of fully rehabbed places. Makes sense, they ain’t gonna give it away. Plus, many with a “vintage” house can’t appreciate the true cost of remodeling. People always seem to forget the cost of carry. If you go big like this del mar one, add the cost of the loan, and taxes and insurance for 12-18 months to the GC’s bill (bid price plus 15% or more). In many cases it makes total sense, but tread carefully and, of course, Get Good Help.