wired or wireless alarm


Any strong opinions on wired vs. wireless alarm systems? All signs point to wireless – substantially less expensive installation ($5000 vs. $300), similar maintenance costs ($30 vs $45 per month), similar level of effectiveness. We have heard concerns that wireless will not work well in a four floor brownstone with plaster walls – any evidence from users?

Categories: Alarm
By iwannabrownstone | 01/27/2011 3:54 PM | Comment

home security / alarm system


We are in the midst of the a full renovation of all mechanicals. The contractor has asked us to make decisions on home security / alarm system since the electrician wants to finish up wiring and then seal up the walls. Can you please provide any recommendations on alarm / security systems? Budget is limited for this element since its been spent elsewhere. Please give us lower cost ideas if you have them, and any recommendations on what not to do are equally helpful. THANKS!

Categories: Alarm
By iwannabrownstone | 01/11/2011 12:07 PM | Comment

Architect & Contractor Selection


We are about to take possession of a fairly standard brownstone in fort greene. Its in moderate condition, but the mechanicals must be modernized before we can renovate kitchens & baths. We are starting to meet with architects & contractors next week. Any advice on key questions to ask in the interviews? What is really important? What is less critical? Based on your experiences and 20/20 hindsight, what would you have wanted to know when you selected your architect and/or contractor? What would you do differently if you did another renovation? Any thoughts are helpful. Thank you very much in advance.

By iwannabrownstone | 04/16/2010 12:10 PM | Comment

Replacing Glass B’stone Doors


One of the doubledoors to the brownstone we are buying next week has a broken glass pane. This is a very typical, standard set of doors that are probably 7 feet tall with beveled glass. Can anyone provide a rough estimate of what the replacement cost should be – we need to include as a credit at closing. Any estimates are welcome, as are ideas on vendors that could replace it.

By iwannabrownstone | 04/10/2010 9:03 AM | Comment

Walk-Through


We are conducting our final walk-through on Monday before we close on Tuesday. We are buying in “as-is” condition and planning significant work. Can anyone give us some thoughts on what to look for, what to be careful of, etc.?

Thanks!

By iwannabrownstone | 04/10/2010 9:00 AM | Comment

Renovations: Cost of Insurance?


We are set to close on the purchase of a brownstone in Ft. Greene later this month, and have to obtain Homeowner’s Insurance as a condition to closing. We will be renovating the building before moving in (new plumbing, electric, new kitchen) and for this reason, we are having a hard time finding a carrier. Allstate and Liberty Mutual, for example, would only cover us post renovation. Those carriers we did find (e.g., Firemans) will run around $10K for a combined homeowners and builder’s risk policy. One broker mentioned that many homeowners do not disclose the extent of renovations and just get a homeowner’s policy (around $3K). However, then they are not covered in case something goes wrong in the home. Not a risk we want to take, but we’re just a little taken back at the cost of the combined policies.

Can someone please advise if this sounds reasonable? If you did a renovation, how did you manage builder’s risk? Is builder’s risk something usually buried in the the general contractor fees or is it typically paid by the owner?

It goes without saying that we have not selected a general contractor yet.

Categories: Insurance
By iwannabrownstone | 03/11/2010 11:50 AM | Comment

Mortgage providers 4 families


We are seeking a mortgage provider that will lend against a 4 family in Brooklyn. Any ideas on smaller players that will hold the loan in their portfolio? Any thoughts on larger players that will be relatively more flexible as the buying dynamics are non-standard (three way transaction where a middle man is assigning contract to us)? Any thoughts are helpful!

Categories: Mortgage
By iwannabrownstone | 11/11/2009 3:01 PM | Comment

Assignment of contract for sale


We have an accepted offer to purchase a brownstone. However, the owner of the building has contracted to sell the building to a third party, and that third party has marketed the deal to us, agreed an offer price (higher than where they will buy from the owner), and is assigning that contract to us. The middleman is now trying to shop our deal for a higher offer. We are interested in working directly with the owner, but, it appears that the owner is legally locked into dealing only with the middleman, even though they have not closed yet, because they have signed a contract with the middleman. Any suggestions on how to proceed or knowledge of whether this is legal?

By iwannabrownstone | 08/28/2009 6:57 PM | Comment

Tips on obtaining jumbo mortgage


We are about to enter contract on a 2 family in Brooklyn. We have excellent credit and enough cash for 25% down if necessary. The amount we need to finance is about $900k (after downpayment), so we will be over the FNMA conforming limits. Does anyone have any tips on banks that are providing 75% or even 80% up to $1MM?

Categories: Mortgage
By iwannabrownstone | 03/16/2009 12:22 AM | Comment