Setting priorities when buying real estate

I read an interesting blog post some time ago about setting priorities when buying your first home.  I couldn’t have said it more clear myself.  There’s a great graphic used that is brilliant-I couldn’t have come up with a better way to explain it.  Take a look at it here on the Get Rich Slowly blog.

The bottom line is that given the variables of location, price, and condition (or quality as the author, J.D. Roth calls it), you can only have two of them-unless of course you have unlimited funds.  I see this every single day without fail.  And, no matter how much money you have, the same rules apply.  I have never worked with a buyer that didn’t have to give up something when they bought.

Move in and make drinks.

Of course, the mantra ‘Location, location, location’ is the most critical piece of the puzzle.  However, location can be subjective.  For instance, I typically don’t like busy streets, but a ‘busy-ish street’ in a great neighborhood with an architecturally significant property may work-so that means that the definition can change depending on a client’s needs. (Price + Condition = Location)

A fabulous house for a great price in a marginal location.  (Location + Price = Condition)

As for condition, a house with a marginal floor plan or needing significant work in a great neighborhood may be worth taking the remodeling plunge after buying. (Location + Condition = Price)

A little remodeling?

Education on the part of your real estate agent will help you sort through the variables.  You can search around the net, dream and rationalize, but the one on one connection with a knowledgeable real estate professional is the best way to make sure you get the best possible property for your money.

Chronicle building gets tenants

Hard times all around.  The San Francisco Chronicle is leasing out portions of it’s building at 5th and Mission since their needs are shrinking.  There has been a portion rented out for a time to a tech company who is expanding.

From CurbedSF

I had heard that the Chronicle Building was being pursued by developers.  Since the financial market for developers is for the time being mostly dead, I guess that idea had to get taken off the table.

Post from CurbedSF.

Converting Garages into homes

A little ‘garage porn’.  I have to admit, I have fantasies about taking some poor, tired, neglected garage and making into a sexy living space.  There are so many really cool, architecturally interesting buildings that need a little love.  The folks at Curbed National came up with some really great shots.  I particularly like the first one.  Very barn looking, converted into a neat little living space.  I was surprized to read that it is in Oakland, CA.  I expected it to be on the East Coast.  Enjoy.

Oakland, CA Garage from Curbed National

Curbed National-‘garage porn’

Fairmont condos not likely

Well, it seems that the effort to tear down the ugly 1960’s tower at the Fairmont Hotel on Nob Hill is over, at least for now.  Locals and unions have banded together to stop the project and have worn out the developers who wanted to make it a reality.

Robert Frank Architectural Illustration via CurbedSF

I suppose if I lived over by the Fairmont I’d feel differently.  From my perspective, architecturally, it would have been a lot more interesting and vibrant for the neighborhood to have World-Class housing in that area.  Perhaps someone else will pick up the ball in the future.

Here’s the Curbed post.

Better Cell Phone Service-It’s going to cost you

AT&T is working to make it’s internet signal strength stronger.  No one that has AT&T service would stop them in their quest.

Here’s how they want to do it.  A box similar to the one at the right installed on sidewalks around the city.  AT&T is working on a categorical exemption from Environmental Review.  That means they can do it without your input, so if they want to put one on the public sidewalk in front of your home, they can-and you can’t do anything.

Here’s what they could look like-graffiti not included initially

 

There must be a better solution!

Post from Curbed.