Combining NYC Apartments: Pros And Cons

Are you considering connecting two or more apartments to fulfill and maximize your New York City goals? They say this is a wise decision especially if you have outgrown your area while your neighbors have been selling their properties. Besides being more cost-effective, this solution is also ideal if you want to stay in the same area, accessing your usual amenities and services. To help you decide whether this project is right for you, remodeler Knockout Renovation will talk you through it. 

Before deciding to combine apartments, ask yourself whether this project is even possible for you. Also, if it will cost you more than purchasing a bigger flat, you might have to reconsider. For a clearer understanding, here are its pros and cons:

PROS

1. If you consider remodeling your apartment upon combining two flats, you will be able to stay in the same neighborhood, avoiding broker fees.
2. You are already knowledgeable about the property and the building, making it also easier for you to pitch renovation projects to the owner or the building’s superintendent. 
3. Assuming you’re on good terms with your neighbors, construction would be smooth-sailing as long as you’re able to speak with them prior to the actual process.

CONS

1. You are likely to take on additional maintenance and taxes, and the combined charges may appear unusually high to potential buyers for resale.
2. If you choose to combine two flats, you will have to pay the carrying costs on both apartments for the duration of the renovation and finance two home purchases.

Above all, you should be mindful of the approval process you’ll have to encounter. Allow yourself to prepare ahead of time especially with budgeting whether you’re considering renovating two flats to merge or if you’re getting a larger unit. 

Turn to Knockout Renovation for your upcoming house or kitchen remodeling project. You’ll get a full-service remodeling firm with over two decades of experience in New York apartment and home renovation. Call us at (212) 599-5060 or reach us here. We serve clients in New York City, including Brooklyn, Manhattan, and other parts of NYC.