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Dateline: At the Corner of Insanity and Bankruptcy
After more than a decade of real estate “fantasy shopping” online here in Mexico City, I’ve finally decided to pull the trigger and buy at the top of the market. At least it feels that way. There’s a ton of property available, and more every week. The weeks before the 2017 earthquake marked the peak of residential real estate turnover here, and sales have been in a gentle decline ever since. Except for the early days of covid, of course, when sales fell off a cliff for a few months. They’ve since bounced back somewhat, but it’s not clear if a bottom has yet been reached. Despite the swelling inventory of places for sale, asking prices remain high. Only rents have budged at all. And according to friends, not much at that. Instead, buildings across town are festooned with “en venta” or “en renta” signs. If you inquire, there are many more units available than what’s advertised on the façade. Oh, and builders continue to construct new condo apartments at a breathtaking pace. So what better time to buy, right?
As some of you know, I’ve been, uh, a little “indecisive” for years about really moving here. So much so that I’ve become something of a laughingstock on certain blogs. In my defense, I had basically started the process in 2016, and then it was interrupted first by my mother’s illness, and then covid. But now that I’m back, I’m loving it, and feeling very comfortable living here. I’m seeing someone I’m enthusiastic about, and am developing a circle of friends. So over the summer I decided to start looking to finally, really buy a place. But after having looked for a few months it became clear that the market was depressed, and no upside catalyst was in evidence. Nor were any compelling discounts. So I decided to wait until spring, hoping prices might start to move down under the sea of unsold inventory.
And then an opportunity fell into my lap. I was out walking around the northern reaches of Roma Sur in mid-October, when I came across a handsome, three story, Art Deco house with a “for sale by owner” sign on it. I stopped to look, and took a picture of the sign. A guy sitting in a car leaned out and asked if I spoke Spanish, and if I wanted to see the house. Once inside, I was immediately captivated.
The property consists of three floors. On the first two is a 2,500 square foot, 4 BR, 3.5 BA house. On the third floor is a spacious apartment with a fireplace, and a good-sized cuarto de servicio on the roof. Built in 1930, the place is practically oozing Art Deco Charm. It’s filled with glass blocks, and a glittery black quartz baseboard. It has an asymmetrical Art Deco fireplace made of the same stone, and on the second floor it has an amazing blue Art Deco bathroom. Ceiling heights are 3 meters, about 9½ feet, and the ground floor feels incredibly spacious.
Of course it’s an old house, and needs a fairly thorough remodeling. The kitchen is a complete disaster. I’ll also have to update the electrical system, plumbing, and redo several of the floors. While the center of the ground floor has interesting pasta tile, it’s quite worn, and may not be salvageable. And the front room and dining room both need new floors. The front room has a wood floor, and I think it’d be nice to replace that with tile that matches the center of the house. The back/dining room floor had its wood replaced with concrete, but slopes down to meet the kitchen. I’d rather everything be on the same level, so that too will likely need to be redone. And I’ll have to paint every visible surface, inside and out.
Still, the house overall has very good “bones,” with a spacious layout and surprisingly good light given that it has almost no garden or yard, just a 9-ish foot space at the back of the house, towered over by the apartment building behind. In the heart of the building, there’s a light well with a super-glamorous spiral staircase to the third floor, and it does a lot to brighten the house. And there are lots of internal windows and glass blocks which allow more light than you’d expect. It also seems very solid, with nary a crack to be seen.
But the main stairway between the first and second floors is no slouch either. Imagine it painted gray, with a glossy black railing, and some Art Deco stencils along the side.
I have rather mixed feelings about the kitchen. To put it mildly. Obviously it needs to be remodeled, but how much? At some level, the green tile is charmingly period-correct. But as you can see from even this relatively bad photo, there are a lot of holes drilled in the tiles. And who knows how well the grout might clean up? There’s a LOT of color there. And it’s one of those ‘operating-room’ Mexican kitchens where every single square inch is covered with tile, including white tiles on the ceilings. If nothing else, I’m going to have to figure out how to get more electricity and lighting in there. And of course cabinets, etc. Those period floor cabinets are very interesting, though. Imagine them painted with an automotive metallic color like silver.
The main bath on the second floor is the real charmer. A good size, it has some very nice tiles, to which the composite photo below does no justice. The floor was replaced somewhere along the way, but I’m thinking of replacing the boring beige with something in either blue or gray. Otherwise, I want to preserve the bathroom as much as possible. The existing tiles are really amazing, with a translucent glaze, and it’d be a crime to get rid of them. And of course I’ll paint the walls and ceiling something besides cold white, maybe a light gray, or tone of blue. It’s also going to need more lighting, though I’m definitely going to keep the flame-style sconces. However, the bidet (not pictured, but right next to the tub) is going to have to go. I’d much rather have a heater in its place.
Turning back to the mechanics of buying this place, it turns out that the guy showing it to me is the son of the owner, an elderly lady who had just spent two weeks in the hospital for a non-covid lung infection. Since she was still weak and recuperating, I wasn’t able to see the apartment on the third floor that day. But after seeing the two-story house underneath it, I was truly interested in buying this place. The asking price is in the ballpark, and I’ve frankly wanted something I could remodel to my own taste. Not to mention that I’ve always thought that it would be beyond fabulous to live in an Art Deco house. So we arranged for me to see the house when she was feeling better. I told the son, Marco, that I was very interested but in no hurry, and that if she wanted a couple of weeks to recuperate before I came by, that it was no problem.
So I went back home and waited for his call and fantasized about the house. I figured it’d be at least two weeks before I got to see the apartment. But no. Thursday of that week, Marco called and said I could come Saturday. “By the way, we are also selling the house next door too, if you want to see it,” he mentioned. “What the heck?” I figured. “Sure!”
To be continued…
Saludos and thanks for stopping by!
RICARDO SANTIAGO GENDE said:
That’s an such good story to tell
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Kim G said:
Hola Ricardo,
Yes, I’m quite excited. Hopefully the deal closes soon. Saludos and thanks for stopping by.
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redshoesarebetterthanbacon said:
Wow, you finally took the plunge. Felicidades on what looks a wise investment with a bright future.
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Kim G said:
Hola Ms. Shoes!
Thank you so much. It’s ridiculous the lengths I have to go prove “Felipe” wrong. Merry Christmas and thanks for stopping by!
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Steve Cotton said:
The place looks just as promising as when you first showed me the photographs. Thanks for the additional detail. I will be on your visitor wait list.
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Kim G said:
Hola Steve! The remodeling is going to be a long process. But I would be honored to have you as a guest. You’d be welcome any time. Saludos and thanks for stopping by!
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Croft Randle said:
Beautiful house Kim! Definitely not the cookie cutter output of the condo factories! It is a great find and good craftsmen abound in Mexico who have not yet figured out that their labour is worth much more than they charge. I will be awaiting chapter two! Is access to the third floor apartment through the house or via an outside staircase? Same question for the rooftop cuarto de servicio which I can envision as another rental or Air B&B.
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Kim G said:
Hola Croft! Thanks for the wonderful comment. Yes, that house is definitely not something out of the condo factory, hehe. Or even the tract house factory. That’s part of why I like it so much. With regards to access, the apartment is accessed via the spiral staircase pictured, which is accessed via the garage. The cuarto de servicio is accessed via the apartment, but one of the things I’m looking into doing is extending the spiral staircase to the roof, which would then allow the cuarto de servicio to be an apartment. The cuarto de servicio could possibly be as big as 50 M2, so a decent-sized 1-bedroom apartment. I have a friend here who is hinting that she wants to rent it when the time comes. Saludos and thanks for stopping by!
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Phil, Phoenix said:
Exciting news. Your wait may prove well worth it. A couple of random thoughts from somebody that has never met you: You were impressed how light it was inside, so don’t rush to paint those walls gray and darker colors. That white is what’s making it light. I would want a lot of house plants, and they will need light. I would do only minimal, necessary remodelling until I lived in it for a year or 2. Then you have a better idea on what changes you would like. Neat that you could live on the 3rd floor while you remodel the rest of it. Or vice versa. By the way, you can buy a very simple device that will turn the flames blue. It allows air/oxygen to enter the gas stream for more efficient consumption. Remember the old gas stoves had it on the supply to the oven. You could vary the opening to get the most efficient (blue) flame. By the way, when I bought my first house and was much younger, I wanted a urinal in the worst way. Maybe you could convert the bidet and pretend it was to conserve water.
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Kim G said:
Hey Phil,
Good suggestions, especially regarding the light. I am going to need a good deal of electric light in any case, so I may be able to get away with some dark colors. Or maybe I’ll have to go with a very light, dove gray. But the place definitely needs something beyond white, and I personally don’t like living in clinical, white spaces. Check out pictures of my Boston house here. You’ll see I’m a color fanatic.
As for living before remodeling, yes, there’s some sense to that. But my last house I lived in while remodeling, and don’t care to repeat the experience. A summer of barbecuing, washing dishes in the basement, and breathing dust was enough for one lifetime. And I’d like to get the apartment rented on a reasonably expeditious timeline, so it’s probably best done sooner rather than later.
Thanks for your comment. Future comments will go through unmoderated. Saludos!
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Barbara Lane said:
Hola! I was so happy to see your post this morning! I didn’t expect a cliffhanger though. lol Do post again soon please – it will be such fun to follow along as you renovate!
Wishing you a very merry and the best New Year ever!
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Kim G said:
Hola Barbara! Thanks for stopping by! It’s nice to hear from you. Hope all is well in SMA. Saludos!
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Felipe Zapata said:
You’ll remove the bidet?
Congrats on maybe getting a house at last.
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Kim G said:
Call me crazy, but two points. First, I’ve never used a bidet and never felt the need for one. Second, do I really want to waddle across the bathroom after using the toilet to the other side, pants half off, in order to get to the bidet while I really need it? I’d say no.
As for getting the house, I’m quite excited. And you’ll see more in the next post.
Saludos and thanks for stopping by!
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