NEW on my Q&A page: a response to Sally, who wrote seeking my advice on entering the Brooklyn real-estate market as first-time home-buyers.
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10 REASONS OLD HOUSES ARE A GOOD INVESTMENT IN ANY KIND OF MARKET
1 There is a finite number of them.
2 They are getting rarer.
3 Their construction is solid.
4 They were built to last.
5 They have already passed the test of time.
6 They have detail: moldings, baseboards, panel doors, plasterwork, fireplaces, etc.
7 They are generously proportioned.
8 They’re green: re-using an old house instead of building new saves energy and resources.
9 They have intrinsic value.
10 They hold their value in a downturn.
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May 13, 2009 at 4:52 pm
designfabulous
Hey, thanks for linking to my blog. I really appreciate it. I love your blog, it is one of my dailies. Keep up the good work!
May 14, 2009 at 8:40 pm
Sally
Thanks so much Cara for the advice. We are fine, I think, with taking on a multi-family and having tenants and/or with doing renovation work. Only thing is we would have to include the renovation in our $1.1M budget. And I also don’t mind a chopped up brownstone at all, it’s just that there are quite a few conversion of brownstones to condos that are low quality.
Thank you for the encouragement. I am sure that we will find something great. In the meantime, I will continue to enjoy the lovely interiors featured on your blog.