Boston Area - Rebuild or Sell as is?

Question

Looking for insight from Boston South Shore investors/contractors!!!

As my mother is getting older, I'm helping her get out of her current home so she can move into a condo or something easier for her to maintain on her own.

Her home is not well kept and needs a lot of work. She lives in a very nice family-oriented neighborhood in Westwood, MA where home values have skyrocketed and there are a lot of new builds going for 1.5 M + range.

The home is paid off but it's very small and in ROUGH shape to say the least. I know there is an opportunity to rebuild and sell or take an easier route of selling to a developer and getting out quickly. There is a developer who frequently calls asking to buy her home.

We're weighing out the options of 1) hiring a team to flip/rebuild and sell or 2) sell directly to a developer for a quick turnaround without using an agent.

Insights??? Thoughts???

Cindy OBrien · Answer

Hi @Enis Shehu - it would be great to connect and hear your insight! I will send you a direct message.

Enis Shehu · Answer

@Cindy OBrien It depends. Westwood is a great town with a lot of new construction going on. With the limited info I have from your post, I would say the highest and best use would be to build new. If you have the time and expertise I would take on the project myself as typically you would make more money that way. However, selling to a builder AS-IS might not be a bad idea either as demand is high and builders are paying top dollars. So it depends on what your goal is with this transaction and how it would affect your mother. Happy to chat more about it.

Derreck Wells · Answer

You'll make a ton more money flipping it then selling as is. It totally depends on what you want to get out of it.