Great house in a crap town or crap house in a great town?

[hotkarl]

Funny. The 2 "crap" houses I've owned would probabally be considered extravagant in some neighborhoods. But, none the less were crap in the neighborhoods I purchased.
My neighbors can thank me for raising their property values.
I buy crap homes because that's all I can afford, then I spend a few years renovating them into HGTV shrines so that the next owner can enjoy the fruits of my labor.
Now, every time I buy a house I just can't help but thinking that I'm actually renovating the place for the next owner, not myself. Heh heh.

[zulu400]

Originally Posted by hotkarl

Funny. The 2 "crap" houses I've owned would probabally be considered extravagant in some neighborhoods. But, none the less were crap in the neighborhoods I purchased.
My neighbors can thank me for raising their property values.
I buy crap homes because that's all I can afford, then I spend a few years renovating them into HGTV shrines so that the next owner can enjoy the fruits of my labor.
Now, every time I buy a house I just can't help but thinking that I'm actually renovating the place for the next owner, not myself. Heh heh.

LOL.... its funny you mention that.... when I was living in apartments.... I would see the apartment spot clean on only 2 days.... the day I move in and the day I handed the keys back ....

[Crookhaven]

Originally Posted by hotkarl

Funny. The 2 "crap" houses I've owned would probabally be considered extravagant in some neighborhoods. But, none the less were crap in the neighborhoods I purchased.
My neighbors can thank me for raising their property values.
I buy crap homes because that's all I can afford, then I spend a few years renovating them into HGTV shrines so that the next owner can enjoy the fruits of my labor.
Now, every time I buy a house I just can't help but thinking that I'm actually renovating the place for the next owner, not myself. Heh heh.

Onion Store > 'Sometimes I Feel Like I'm The Only One Trying To Gentrify This Neighborhood' Doormat (http://store.theonion.com/product/sometimes-i-feel-like-im-the-only-one-trying-to-ge%2C265/ - broken link)

[Crookhaven]

Originally Posted by Burb

Let's keep this comparison fair and put in perspective the condition of the crappy house and the available funds of the buyer. The "Crap Town" reference has been associated with places that are dangerous. To be fair, the "Crap House" has to be similarly dangerous or otherwise unliveable. Also to be fair, let's assume you would be cash strapped after such a large purchase and will not be blessed with a ton of disposable income after the purchase. Otherwise the choice would be easy, buy the shack and dump a ton of money into it until it's liveable.

So, if the house you were to buy in a great town were 1100 SF, leaky roof, asbestos, lead paint, oil tank and septic needing replacement, wiring and panel unsafe, infestation, foundational issues, etc. Also assuming you would have to live in it for several years with only minor improvements, would the choice be so easy?

What if the nice 2400 SF colonial in the "Crap Town" was on a particularly well groomed and safe block with excellent private schools near by, would that change the equation?

Personally I did not vote, I'm with the previous poster, neither.

That is a great question.

I guess if you could swing the taxes and private school.

If that were the case you could probably afford to not buy in a crap town in the first place.

Hmmmmmmmmmmm.