Since 2005: Where would you like to live?
A vintage conversion condo?
Or a new construction condo?
all things being equal, i think a building that has stood the test of time beats new construction. The vintage building just looks better and odds are good that shortcuts were not taken to meet budget cuts as much as in new construction.
That is the correct answer! In all seriousness, there are a lot of terrible conversion chop jobs out there, but in any given price-range, a well done conversion on an existing building from 1900-1930s is tops in my book. The new construction that looks really good usually comes at quite a premium over a comparable conversion property.
It is the correct answer, BUT... Prepare to make unexpected investments. You may have to invest in windows, roof, tuckpointing, termite extermination, electrical upgrades both incoming and to the outlets, replacing galvanized pipes with copper, furnace, AC, etc BEFORE you get to all of the fun stuff you see on HGTV...
Mark, all things being equal, most of that has been done. However, you really have to check it out. Many, many buildings I have come across that have been converted have roof and lintel issue that cost big money in only a few years done the road.
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