Renovating a home is not for everyone, it is expensive, time consuming, frustrating, but one of the best adventures of your life. If you’re up for this challenge, the journey can be well worth it.
The key is in finding a home that offers the right scope of project for your budget and time constraints and will be a finished product that meets your needs. Aside from the obvious financial benefits of instant equity, renovating a home is also the best way to get exactly what you want.
Finding the right home for you is the first step and there are a wide range of options. But don’t stress, I have that covered! Below, I’ve identified 4 homes that I think offer great potential and are renovation ready!
10 years from now, it’s going to believe that this price ever existed in this neighborhood. The days of non-condo homes selling under $400,000 this close to downtown are very limited. If guaranteed appreciation and a neighborhood full of fun new bars and restaurants isn’t enough, here are a few more features:
- 2 levels and 1,184 sq ft (per tax record)
- Upstairs: 3 bedrooms/2 bathrooms, but could easily be reconfigured as 2 bedrooms/2 bathrooms
- “Average” condition, may meet conventional financing guidelines (which means you can get a traditional mortgage)
- Recent $10,000 price reduction
This “well preserved” detached single family home is hiding tons of potential from the original hardwood floors and solid wood doors.
- Tax record square feet = 1500, but you could easily add another 1,000 square feet by finishing the basement and attic.
- Large detached 2 car garage
- Aesthetically may not be the prettiest house on the block but pride of ownership shows with its well maintained interior and exterior
Remember when this was just Trinidad, before Ivy City was a thing? While we’ve seen prices start to increase as a result of the development, that’s just the beginning.
- 3 levels, tax record square footage of 1,332, puts this in my “ideal rowhouse size” range
- Finished basement with bedroom and bath, ready to become rental potential or roommate quarters
- With some cosmetic updates, some new flooring and fixtures, a small investment can have a huge impact
- Newer vinyl windows & central AC = money you don’t have to spend
- The price has been improved by $190,000 from the original list price!
Lets talk about Woodridge – with it’s charming bungalows, quiet streets, and so much potential, its the perfect place for anyone looking for a little more space both inside and out. Unlike the others on our list, this one is move in ready as it is, but offers a blank canvas to work and numerous options for expansion and building equity.
- Open concept main floor plan with connected living room, dining room and kitchen.
- 10,000 sq ft fully fenced lot with off street parking
- Finished basement with full bath has an additional 500 square feet of living space
- A few short blocks to Langdon park with playing fields, tennis courts and outdoor pool
Looking for a home that meets your specific renovation objectives? Send me a message here and I’d be happy to look out for options that are a good fit or help you analyze potential homes.