So what if you don’t like condos and coops? You need an affordable alternative. Would you buy a house with no yard? I kinda see the point of a house as twofold: First, I’m not beholden to condo/coop rules (excepting landmark issues, if I want a purple door, I’ll have a purple door dammitz!). Second, you get a private yard that you can do with as you please.
Have a look at this house here:
http://streeteasy.com/building/157-16-street-brooklyn
It’s no longer on the market. I drooled over this sucker back in 2011 because I loved the size and location, but was turned off by the fact that it had no yard at all. I assume that the homeowner sold off their rights/land to the condo building behind it on 15th Street as all that space is now a parking lot. Phooey, right? Right. One up side was that it had a deck. Nevermind that it faces the back of that condo building…
So, back then, the asking on this little house was $600k. Seems reasonable considering size, location, lack of yard.
Fast forward to today and our new bubble. This house right next door is now on the market for a whopping $985k.
http://www.bhsusa.com/brooklyn/south-slope-cottage/townhouse/12368165
Again, no backyard, very small, same location. But this time, we don’t even have a deck! Of course you could build out a roof deck, but when we are already closing in on a cool million for this tiny joint, who wants to have to pay to put in a roof deck?
A couple of questions:
1. Do you think the ask on the second house is reasonable? Why or why not?
2. If yes, is the jump in price between house one back in 2011 and house two in 2015 justified/reasonable?
3. What changes, if any, would you make to the floorplan of house two? Any ideas for a planted roof?
