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All Forum Posts by: Alex Lee

Alex Lee has started 9 posts and replied 34 times.

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Carini Rochester:

@Bruce Woodruff Agreed! Most additions of that size never get built. They get dreamt about, planned, priced, then never built. It's $300/SF and up in my area. This OP should be looking for a house that meets his needs, not a house that will need a 1200 SF addition built on it.


 Generally speaking our first option will be looking at a house that already fits our needs box, but every now and then I see properties that don't appear to be on agricultural land but has like a 2 bed 1 bath on a 2+ acre lot and leaves me wondering. Where I'm at now we currently have it priced at 450/sqft+ for gut reno work.

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Bruce Woodruff:

You don't have a choice in whether or not to pull permits (as was suggested in a prior post). And  remodeling about 50% of a dwelling will definitely require a permit....

With prices running around $200SF, you are talking about $300k per project, probably more.....is that what you're expecting?


$200sf seems reasonable compared to the rates here (though I understand it's not the best idea to use where I currently live as a comparison). For the personal residence I would be less inclined to force penciling out the profitability (within reason) since the assumption is to live in it for 10+ years. It would be more to suit the needs of my growing family.

For investment properties, I suspect that I will not be building out that much square footage unless the markets in that are dictate it so I would assume (please correct me if I'm wrong) that the standard starter home/SFH's there will be fine as-is with some rehabing

I was curious to know what the average price/sqft was for rehabs/gut renos etc... Thank you so much for your input!

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Carini Rochester:

If you follow all the rules a building permit will not be denied arbitrarily. Also, municipalities offer a way to ask for permission to vary from a zoning ordinance, called a variance. Variances are granted pretty routinely in my area, but the burden of proof falls on the property owner to justify why granting the variance won't negatively impact the neighbors/community. (Some towns also have an Architectural Review Board that reviews the plans to help insure that no one builds some monstrosity that detracts from the visual beauty of the neighborhood, or something.)


 That's promising to know. From my experience up north, it's almost impossible to get variances cleared for the average joe. Thank you for the guidance.

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Carini Rochester:

There are two sets of rules. 1 is the local zoning ordinance which will control things like yard setbacks (stay 5 feet from your side lot line, for example,) maximum lot coverage. Every town, every city writes their own zoning ordinances, so you have to research the applicable town. 2 is the building code. Almost every state uses some version of the Uniform Building Code/Residential Code. The code is interpreted and enforced, usually by a local building inspector. Interpretations and enforcement will vary from town to town. A licensed professional (architect or professional engineer) will usually be needed to prepare the plans for a project of this size.


 Thank you for the break down.

Thankfully it seems like the regulation side seems fairly standard or at least familiar. Do you happen to know if localities will deny permits regularly for build outs even if it's within the allowable sqft? (for additional context, I don't have any intention of buying into HOA communities.)

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Michael Dumler:

@Alex Lee, it depends on the lot size and more importantly, the County/City ordinances. As noted above, adding 1,300 square feet to an existing structure is not an easy project. Completing the task without pulling necessary permits is asking for trouble in my opinion. If the County/City catches on (most likely from a neighbor complaining), they'll issue a stop-work notice. What County are you thinking of buying in? 

Because of all the things I have going on, I don't have any interest in doing shady work. It seems like that building limits in terms of SQFT seems to be fairly standard (FAR based on zoning). We haven't decided yet if we wanted to explore ADU opportunities (for now it's less about investment value in the short term--more for family planning) but at the very least I see that there are a bunch of homes that seem unusually small given their lot sizes. I wanted to see if it was possible to buy a house in Buford, Alpharetta, Marietta and maybe build out a home that we would be comfortable in. 

While living there figured we would look into investment opportunities and so wanted to start figuring out what we can in terms of options and potential moves.

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Michael Thach:

Do you plan to do this under the table ? If you are adding 1300 sqft of livable house to your 1700 sqft you better make sure your contractor team knows what they are doing. If you add 1300 sqft without permit... this will be an issue when you sell / refinance later because this is not registered.

If you plan to do it with permits then the contractor will take care of it to pass the inspections. 1300 would most likely also require an engineer or architect. This is a massive project and shouldn't be done not according to codes. 

If you plan to do with permits and do it yourself then you need to know the codes and need to have a license in most state. 


 I'm risk adverse and have 0 interest in doing uncertified work. I intend to get all the proper permits and all that. I suppose I was looking to see how difficult different counties will make it to actually approve these permits.

Post: How strict are building codes?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16

We are looking to move to Georgia and I was curious to know how hard/strict it would be to expand houses.

So for instance if we buy a 1700sqft house, how hard would it be to say build it out to say 3k?

For now we are considering for our residence, but as we intend on buying investments as well I thought it would be good to know what i might be getting into.

Post: Attomdata vs...(enter alternative here)

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16

So we have Attom through brokerage or MLS but was wondering if there were better solutions.

I like to use it to get property data (sqft, buildable sqft, taxes, history, zoning etc) to theory craft out if there is a move to make.

Post: Where you can still find deals -- House Hacks

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16
Quote from @Ben Firstenberg:
Quote from @Alex Lee:

recently went out the GA to take a look at areas. I'm still kind of torn on where to focus on. Savannah looks promising, but I'm kind of drawn to Marietta/Buford. I've been getting a bunch of stuff for Gwinnett county but the math wasn't panning out. 

I'm thinking maybe I start making disrespectful offers to see if anyone is willing to sell based of investor math.


 Savannah definitely has potential. I'm no expert, but my guess would be price/rent ratios aren't great due to the hype and the fact that it's still a pretty small city. 

Gwinnett is definitely a place where price/rent isn't great right now. It's a very desirable place to live, so retail investors have driven prices too high. Marietta is a little better. 

What kind of deal are you looking for? Feel free to reach out in DMs


 For better or for worse, I'm typically looking at properties with a reasonable proximity to corporate offices. I am curious to setup mid-term rentals, but this particular is isn't top of my list.

1-4 family prices depend on area, but for now we've been looking to get close to the usual rules of thumb for BRRRR's. If it's in a top school district, one of my partners may be willing to house hack for better financing.

Post: Where are you getting your market data?

Alex Lee
Posted
  • Realtor
  • New York City
  • Posts 34
  • Votes 16

So I'm 80% sure I'm going to be doing a deeper dive into GA, but I have eyes on OK, TX, MD.

Lately I've been trying to glean info using google-fu and reaching out to agents in the area.

What resources are you guys using to research and find information?