Quote:
Originally Posted by edslunch
I’m curious about land value vs house value. We have a renovated bungalow in Altadore, nicely renovated but still a 1600 sq ft bungalow on an R1 lot which is out of step with what is being built in the neighborhood.Seeing the continuous tear downs and builds going on in the neighborhood and the high price of some of these new single family homes, are we more likely to sell the house just for land value or do we get value for the house that’s on it?
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I find that these types of places are caught in a bit of no-mans land. They are too nice to tear down, but too small for most new buyers to live in as-is.
I imagine your property would be looked at both as a teardown and as-is, depending on the buyer. Considering the neighborhood and that it has a lot of families incoming, I imagine that most would be looking at it for land value (and these people avoid paying for renovations they'll get rid of). But I'm sure for some it's perfect as is...but this group is probably smaller so you have to be ok with waiting for them to show up.