Where readers ask and we try to answer:
Looking to understand how to change a 2 unit condo (1 building, 2 separate addresses, 1 owner) to a duplex or single family residence.
How this happened: We bought the upstairs, and when the bottom unit became available we bought the bottom unit.
Problem: Now deemed “unwarrantable” because we own more than 50%.
Result: Difficult and expensive to insure-paying commercial rates.
Also, increases interest rates and makes fewer loans available to us for refinancing.
Anyone who knows options, cost involved, pros & cons,please respond.
It’s not everyday we hear of people wanting to convert the other way, but it sounds like you’ll want your first stop to be here (http://www.sfgov.org/site/planning_index.asp). Then you’ll want to go down to the counter and actually pay them a visit and inquire about what it is you’re looking to do.
Have you thought about selling the downstairs unit, or do you need the space? What about selling both units and buying a single family? Having two separate condos is much more valuable than one “duplex” and possibly even a single family (depending on your location.) It might even be less of a hassle than what you’re thinking of doing. Just a thought.
Condo lottery results were in, who missed out? [theFrontSteps]