Quote :

"her community didn't allow her to rent it out. "

is even that legal? Seems like one of those overstepping rules like banning satellite dishes.

7/13/2009 10:19:45 PM

lots of townhouse hoa's have ordinances that limits the percentage of units that can be rented out. the thought is that owner residents will help maintain the property values. usually its 20% of the total number of units can be rented. this is actually a big deal in atlanta right now.

7/13/2009 10:27:51 PM

I've heard your home has to be on the market for X months before you can rent it as a last resort.

7/14/2009 8:22:12 AM

A garden tub sounds lovely.

7/14/2009 8:23:38 AM

^^^ and ^^^^ some of the times it's a city ordinance that the HOA just has to go by - that's how it is with my neighborhood at least in GA - the builder had to agree to a % of renter's to be allowed to build the neighborhood

7/14/2009 8:28:48 AM

Without having read the entire thread I'll say this:

1) Forget the upgrades, what's going to sell your place is a low price so do without anything you don't have to have. If you live in a high end neighborhood granite and hardwoods will help but in an average development you'd probably be better off with just the basics.

2) Homebuilders are all about maximum profits. The upgrades are going to be cheap items that you could get for less.

3)

(1) Granite Countertops (~1500)
You can get composites for about this depending on how much counter space you have. Composites are lower maintenance and are way more durable.

(2) Hardwood floors (~4000)
Do this yourself and if you're not great with diy projects do it yourself with laminate.

(3) Crown molding (~500)
Do this yourself or leave it out.

(4) Garden Tub
Price?

(5) Upgraded Carpet (~500)
Don't bother, you'll wind up replacing it anyway.

(6) Upgraded Appliances (~400-1200 depending on the upgrade)
Probably cheap, leave it.

7/14/2009 8:48:09 AM

^ had a lot of good info

another good point (and i forget who said it) was

Quote :

" The problem with resale value on townhomes is you will always be competing with almost identical townhomes with lower prices and brand new townhomes for the same price."

This is what you want to keep in your mind. Do not go overboard and get a lot of upgrades that the rest of your community does not have because you will not get your money back out of it. If you are doing it for yourself because you enjoy those things, that is one thing, but if you're doing it for maximum resale do not go overboard.

At the end of the day there is not much variation in cost between the worse townhomes in the neighborhood and the best ones. sadly the worst are the one who is more likely to set the values.

The best advice is to add distinction so that when time comes to sell and 10 other homes just like yours are on the market at the same price you'll stand out and be the likely winner of the bid.

Based on this I would

1) No. Very few people in your neighborhood will get them and even if they all do those counter tops will not be enough to make someone steer clear of your home.

2) Jury is still out. But as ^ said you could do it yourself fairly easily with two friends and a case of beer.

3) I say yes if it is 500 for all of it. Crown frames a room really nicely. I had some installed a year ago and find the completed look much better than before. You will not find anyone else who will do it for this cost and it is not only very annoying doing it yourself, but it is very evident that you did it yourself.

4) No.

5) No. No one will know the difference. You hardly will after a while and whomever purchases your home will likely change it anyways.

6) Go for all black. It is pretty timeless. but if they do have the stuff that looks just like stainless but isn't as an option go that route. either way wrapping this into your mortgage is a good thing if you're only going to be there a few years. mostly because in a townhome people expect to keep the appliances that are in the home so if you buy them outright you're paying for someone else's appliances. not to mention you'll likely pay less with the upgrade cost + interest in the short time you'll be there than you would have of purchasing them outright.

7/14/2009 10:13:38 AM

^^^i didn't realize it was a city ordinance too. no wonder folks who bought condos as investement properties in buckhead are pissed.

7/14/2009 9:09:19 PM

this thread has some of the worst and most misguided advise ive seen in a long time - definitely talk to a professional before taking anything said here too seriously

Quote :

"(1) Granite Countertops (~1500) You can get composites for about this depending on how much counter space you have. Composites are lower maintenance and are way more durable. (2) Hardwood floors (~4000) Do this yourself and if you're not great with diy projects do it yourself with laminate."

seriously? you're suggesting he install a composite countertop and laminate flooring? this is a townhome, not a doublewide.

take into account that the average mortgage duration in the triangle for a freestanding home is 5 years. the average mortgage duration for a townhome is right under 4 years

7/14/2009 9:38:43 PM