Avoid money wasting, time wasting, gut wrenching do it yourself nightmares.
I have many owners wondering if they should take the plunge and do the work themselves, or bite the bullet and pay for a professional.
You would think this is a pretty basic question that most people would be able to answer for themselves.
Obviously every situation is different, but over the years, I?ve seen some clients make some ?doozeys????so here?s my guide to the top DIY mistakes and how you can avoid them.
1. Time
Ask yourself, ?Do I have the time to do the project????Be realistic? job, home, kids???all are big drains on your time and they are not going away because of a home project.??You want to get your home to the market as quick as possible but a half-finished driveway, partially attached siding, or unfinished trim can turn buyers away faster than garlic to a vampire.
2.??Permits
The mantra of real estate is ?Location, location, location????But if you;re going to fix up your house to sell in today?s market you should also be thinking??Permits, Permits, Permits?. ?
Yes? it is paperwork.
Yes? it it takes time.
Yes? I it is a hassle.???But the reality is, if your home doesn?t have the proper permits it can be near impossible to sell.??You want to get the most money possible from your apartments in Manhattan, and you know? potential buyers want to pay as little as possible.
An un-permitted repair starts an immediate negotiation?.??and not in your favor.
Real World example: ?I was in a deal where there was an enclosed patio that had been erected when the sellers initially purchased this apartment in the Upper East Side about 10 years ago. ?There were no permits, and the management company switched hands in the interim, and there was no one to ask to obtain a legal certificate of occupancy. ?The buyers negotiated hard, and did not want to sign the purchase agreement until the co-op board and the managing agent would write a special disclosure that they were all well informed of this addition, and would not hold the potential buyers liable to return it to its original condition or request unreasonable repairs. ?No one wanted to make a written testimonial to this without some serious strong arming.
Results: ?The deal was almost blown because of this lack of permit, and the buyers were able to get $100,000 off the asking price.
Further Reading: Diary of a Manhattan Apartment
3. ?Professional Finish
I had one client in Olympic Towers NYC located on 641 Fifth Ave. with a beautiful one bedroom 1200 sq foot Manhattan apartment. The kitchen cabinets and counters were clearly done by a non-professional. ?The drawers and cabinets were unfinished, some were slightly askew, and some drawers had notches cut in to allow for the opening of another drawer. ?You wonder why people would think about doing something this stupid to a property that is worth about $2m. ?Buyers can see through this jerry-rigging haphazard way that a project was finished. ?Sellers will undoubtedly pay for it when buyers come in with an offer.
Further Reading: ??The Importance of Finding the Best Representation When Buying Real Estate for Sale in Manhattan
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Work with a trusted,?Luxury Manhattan real estate broker?specializing in?Manhattan apts,?NYC brownstones, and?dog friendly apartments?for?rent & sale:
Soho Lofts-?Tribeca Condos?-?WestVillage Apartments?-?Upper East Side NYC Apartments-Upper West Side Apartments?-?Battery Park City Apartments?-Chelsea Apartments-?Gramercy Apts?-?Midtown East NYC?-?Midtown West NYC?-?Murray Hill in NYC?-?Lower East Side NYC-?East Village Apartments
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