Recent comments in /f/baltimore

Responsible-Type-392 t1_j9e2nzp wrote

This is the correct answer. Anywhere from $100 to $200 per sq. foot.

Coincidentally that is around the cost to just build your own home.

Edit: on a side note- I really hate the look of Formstone. If you don’t know what it is, it’s the facade of the building and it’s covering up beautiful brick. It’s difficult to remove without damaging the brick beneath.

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SliceNaive t1_j9e0rsl wrote

As long as you’re shaking, you’ll be ok. There are more and more disturbed people out with guns. I won’t even honk my horn at anyone because I’ve seen how that set some people off. What is happening to people!?! I was always told, never show someone your weapon unless you are going to use it. Words to live by and keep breathing.

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Cunninghams_right t1_j9e0gzf wrote

in addition to my previous comment, I would like to say that if a house starts out livable (some basic heat, some basic running water, and a roof), then the cost of fixing it up can be a lot lower because a homeowner can live there and fix it up themselves gradually. you can get away with a lot of non-permitted renovations when you live there and do it gradually. if you hire a crew to come in and gut it, you will get shut down if you try to re-plumb, re-wire, etc. a house without a permit. but if you want to re-run the electrical to a room in your own house on the weekends, nobody is going to know or care.

so, if you're not making much money, you can get a cheap place that is minimally livable and gradually fix it up for probably half the cost of doing a full gut, though you probably won't get as much resale value out of it because it will still look old, even if you have replaced the plumbing and such.

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Cunninghams_right t1_j9dzyew wrote

>would be if the work got done

the "if" is the key there. look at a neighborhood where people have gutted and rehabbed a house with private money. the sale price of such a house is roughly the cost to rehab it plus the initial purchase price (sometimes it makes a profit, sometimes it's a loss).

in neighborhoods where the sale price is below the rehab price, you see such houses either being done through a charity, or people losing money on the sale (high foreclosure rate of rehabbed houses).

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imperaman t1_j9dr4u9 wrote

This would be helped immensely by the city charging a vacancy tax on property owners. DC charges a 5% tax rate for vacant buildings, and a whopping 10% tax on blighted buildings.

Baltimore charges the exact same rate to property owners regardless of the status or condition of the building. If Baltimore adopted a similar policy to DC, it would force these loser property owners (many of them out of state) sitting on vacant blighted buildings to sell to people who are willing to do something with them.

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Quantius t1_j9dmois wrote

Unless you do the labor yourself/have a company with skilled laborers, you're gonna get close to $200k.

But really tho, if you won billions in the lottery would you really be rehabbing homes in Baltimore or would you just leave and take care of your family and call it done?

Also, if you really wanted to help people, you could just go the crony capitalist route and get donations in gov, but instead of greasing up palms for your own benefit, you donate for the purpose of benevolence. You would get a lot more bang for your buck via lobbying than just fixing up houses.

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