Even when you love your current building and neighborhood, but you’re short on space, you have a solution. That is buying the adjacent apartment and combining 2 apartments into 1. This is a unique New York phenomenon that you can often see. It can be in the form of a vertical or horizontal combination. Buyers usually chose this path because they can’t find a larger apartment. Also, this makes sense when you don’t want to give up the perks of where you currently live. Like the school zone, proximity to public transport, or community engagements.
However, combining 2 apartments into 1 is not an easy job. That’s why you need these following tips.
Budget for combining 2 apartments into 1
Financing must be your priority. Luckily, if you’re looking to buy the unit next to the one you own, this shouldn’t be difficult. But, if you want to buy two new apartments and combine them at once, it can get a little complicated. Because many banks won’t finance combinations. But learning how to sell an apartment at a higher price can be helpful in these cases.
Also, when it comes to the budget, you fave to be financially prepared for renovating. Renovating is expensive, as well as demolishing walls and moving materials in an apartment building.
Co-op apartment and city regulations
Before combining 2 apartments into 1, check what sort of regulations you might be facing. You need to see if the building even permits combinations. In an alteration agreement, you can find the rules on renovations and combinations. Co-op boards usually want to see complete plans for the renovation before approving.
Try to buy some hallway
An obvious problem when combining apartments is the proportions can feel off. However, there is one thing you should know. Most buildings are open to selling hallway space. But if it doesn’t interfere with access to stairwells or garbage chutes. The building will get some cash in return. And you can use that space and prepare your new home for moving in. Also, keep in mind that this additional space can impact your maintenance. Or it can affect common charges.
Think about wet-over-dry rules in your remodel
Combining apartments can end up with funky footprints. That happens because of rules like wet-over-dry. A very common building prohibition prevents you from installing your bathroom above a living room or bedroom to prevent leaks. Also, when you combine apartments, you must remove the second kitchen. Keep this in mind.
Stairs – another expense when combining 2 apartments into 1
Installing stairs has its challenges. They take up tons of space. Plus, the price can be eye-watering. The process will probably require an architect and structural engineer. They know how to build stairs. You’ll also need an asbestos inspection, and building, and city approvals. Spiral stairways are the most space-efficient option. But, they aren’t for everyone. Especially if you have kids.
Watch your footing
If you want to create a natural flow to your combined apartment you need to put new flooring down. Even when the apartment you expand into is beautifully finished.