Re: Logistics of 2 Family Home in the Heights
Posted by JCGuys on 2018/4/9 10:29:03
Tried doing a search to see what information I could get on this topic, but I mostly just found complaints/suggestions regarding the aesthetics of the "bayonne box."
I was hoping to get people's experiences (good and bad) with the 2 family homes that seem to be ubiquitous in the heights. Seems like there's very little single family home inventory and the little inventory there seem to need a buyer that have the time/patience/resources for significant improvements (for what I'm looking for).
But, given they're all over the place, I guess the 2 family is really quite the norm and many people deal with them.
Specifically, I was wondering:
(1) tandem parking - how much of a pain is it sharing a tandem spot with a second family? Most of what I've seen have a driveway and a garage, but "deeded" parking. Seems to me that having a tandem spot severely limits the convenience of having a parking spot (but I guess better than the alternative if street parking is as scarce as I've read).
(2) 2 unit HoA. I may just be a pessimist, but do people generally have no issues having a 50/50 stake in the condo association? Does anything get done if, god forbid, theres a dispute? Or, worse yet, if the 2nd family and you are antagonistic?
(3) if the second family ends up leaving or renting - is it tough to get a lender if you want to sell (owner/occupant ratio)?
Two family is preferred since you can live in one unit and have a renter pay for the taxes and other maintenance in the other. If you have a car, simply don't include the parking space as part of the lease and you'll find a tenant that doesn't own a car or is willing to do street parking.
I don't know anything about a 2 unit HOA. Good luck with that one. But being the owner of a 2 unit home is a much different thing.
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