Comment of the Day: Lot Size and the Road to Demolition

COMMENT OF THE DAY: LOT SIZE AND THE ROAD TO DEMOLITION “. . . The owners of the above pictured house realized a LONG time ago that the value of their 10,000 SF lot was the same with or without the existing structure. THAT is the point when maintaining the structure becomes uneconomical. THAT is when repairs stop. THAT is the starting point on the path to real decay and eventual demolition. Interestingly, the economics of a townhouse give their owners MORE incentive to keep up with repairs. Their ratio of structure-value to land-value is higher meaning that going forward they should have MORE economic incentive to keep their structures maintained. Even a $100,000 structural repair on a townhouse on a 1,800 SF lot isn’t likely to push it into teardown status. Making the repair is still economically rational. You’d be far less likely to affect a similar repair on a single family home on 5,000 SF lot in the same neighborood.” [Bernard, commenting on Up and Down in Hyde Park] Photo of former property at 1212 Hyde Park Blvd.: fortbendtomontrose

One Comment

  • I think you are giving way too much credit for inherent laziness… I don’t stop bathing because soap costs money. Some people are just lazy and don’t take care of the crap that they have.