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View Poll Results: What would you do as a first time buyer?
Great House/Crap Town 4 9.09%
Crap House/Great Town 40 90.91%
Voters: 44. You may not vote on this poll

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Old 01-23-2010, 06:20 PM
 
7,658 posts, read 16,225,188 times
Reputation: 1290

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Im not gonna get into specifcs as not to insult or inflate anyone but I have a friend whos in market right now and he can buy a gorgeous 2300 Sf colonial in a somewhat sketchy part of Central Brookhaven for 329k or he can buy a dated 1100 Sf Ranch North of North Country, walk to beach on a Cul de Sac with Blue Ribbon schools?

What would you do as a first time buyer?

I dont wanna hear about "striking the balance" those are your 2 choices.

What would you do?

Crooks
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Old 01-23-2010, 06:23 PM
 
56 posts, read 224,621 times
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I would buy a crap house in a good area.You can always fix it up. Remember for resale purposes it is Location-Location-Location
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Old 01-23-2010, 06:25 PM
 
7,658 posts, read 16,225,188 times
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Quote:
Originally Posted by merillo5 View Post
I would buy a crap house in a good area.You can always fix it up. Remember for resale purposes it is Location-Location-Location
Arent you the guy looking in Islandia
Take my advice...Im not using it.

; )

Last edited by Crookhaven; 01-23-2010 at 06:33 PM..
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Old 01-23-2010, 06:30 PM
 
3,368 posts, read 10,276,533 times
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Quote:
Originally Posted by merillo5 View Post
I would buy a crap house in a good area.You can always fix it up. Remember for resale purposes it is Location-Location-Location
I second this. You can always renovate, construct an addition, etc. but you can never change location.
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Old 01-23-2010, 06:34 PM
 
7,658 posts, read 16,225,188 times
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Originally Posted by crisp444 View Post
I second this. You can always renovate, construct an addition, etc. but you can never change location.

First time buyers who are broke after they move in and not at all handy?
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Old 01-23-2010, 07:11 PM
 
3,368 posts, read 10,276,533 times
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Quote:
Originally Posted by Crookhaven View Post
First time buyers who are broke after they move in and not at all handy?
Unless the house is in really bad shape, they can deal with outdated carpet/tile and old appliances for a while. As long as the house is structurally sound, they can save up money and renovate little-by-little.
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Old 01-23-2010, 10:46 PM
 
Location: Long Island,New York
8,163 posts, read 12,821,358 times
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Quote:
Originally Posted by Crookhaven View Post
First time buyers who are broke after they move in and not at all handy?
You don't have to be handy to change a few wall plates for new ones (screwdriver) or do a little painting. Both will only cost a few bucks but really can change the appearance of a not so nice looking home. I do also agree about the crap house in the better town.Any improvements will only help the resale,whereas the bad town where the bottom can just totally drop in value. Take a look at one of your favorite towns crooks (Coram)and check the prices by Colby and Wedgewood,then check by the department of social services on streets like Fife,or Marie,Mill Rd,and notice the difference. Gorgeous house in a rundown area is not a wise one and any area can become a bad one in a moments notice.
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Old 01-23-2010, 10:54 PM
 
7,658 posts, read 16,225,188 times
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Quote:
Originally Posted by Lancet71 View Post
You don't have to be handy to change a few wall plates for new ones (screwdriver) or do a little painting. Both will only cost a few bucks but really can change the appearance of a not so nice looking home. I do also agree about the crap house in the better town.Any improvements will only help the resale,whereas the bad town where the bottom can just totally drop in value. Take a look at one of your favorite towns crooks (Coram)and check the prices by Colby and Wedgewood,then check by the department of social services on streets like Fife,or Marie,Mill Rd,and notice the difference. Gorgeous house in a rundown area is not a wise one and any area can become a bad one in a moments notice.

I guess Im asking if they know they wont be able to upgrade to the crap town house in the better town ,does it still make sense?

As for subtle neigborhood distintions Coram is Coram.
Im speaking specifically to towns.

That may make for an interesting second thread.
Does it make good financial sense to buy in the best part of a crap town?

Crooks
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Old 01-24-2010, 07:46 AM
 
Location: under the beautiful Carolina blue
15,744 posts, read 23,977,253 times
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No question, hands down, crap house in a great area. You can change a house - you can do it over a few months, a few years - whatever. You can LEARN to be handy (pretty much have to if you own a home!).

But - LOCATION LOCATION LOCATION - you cannot change it. You cannot will it to get better. You cannot HOPE FOR THE BEST with your biggest lifetime investment.

I think every potential homeowner is faced with this decision at some point - and I think we know who ultimately ends up happier!

I think a lot of the reason that people who move away from here end up unhappy is becasue of a complete lack of research on where they are going. That makes for ugly long term consequences.
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Old 01-24-2010, 12:52 PM
 
40 posts, read 100,964 times
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I would buy the crap house but in the prime area. Long term value potential is greater and if the surroundings are nice, makes for a much happier lifestyle
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