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Let's see... High crime, poor schools, people that don't take care of the homes, bad location (either remote, or near a freeway or downwind from a factory) uneducated residents- generally the kinds of places people don't want to live but it's all they could afford and they'd leave in a heartbeat if it was an option.
Another legacy of the housing bubble is millions bought in neighborhoods they didn't like, in a large part because they planned on selling at a profit in a few years and moving somewhere better. People stuck in these areas don't want to stay and they don't care about the community they're wanting to leave. BAD.
here we have a lot of areas with really old homes. its weird because half of them are well-maintained and beautiful, while the other half are dilapidated. its a strange mix of residents
here we have a lot of areas with really old homes. its weird because half of them are well-maintained and beautiful, while the other half are dilapidated. its a strange mix of residents
Depends on why that's the case. If it's because you have a lot of elderly owners, that's one thing. If it's because 50% of the houses are rentals... well, it then depends on whether ownership is increasing or decreasing. Are more houses being bought and remodeled, or more being let deteriorate over time?
Let's see... High crime, poor schools, people that don't take care of the homes, bad location (either remote, or near a freeway or downwind from a factory) uneducated residents- generally the kinds of places people don't want to live but it's all they could afford and they'd leave in a heartbeat if it was an option.
Another legacy of the housing bubble is millions bought in neighborhoods they didn't like, in a large part because they planned on selling at a profit in a few years and moving somewhere better. People stuck in these areas don't want to stay and they don't care about the community they're wanting to leave. BAD.
High crime and poor schools I can say is truly bad. There will always be people who are more vigilant about home maintenance than others. It's unsightly, but I can't quite say that is "bad". To clarify, what is an "uneducated resident"? Someone who doesn't have a degree? A neighborhood is bad if it doesn't have a preponderance of degreed individuals? I'm actually curious.
My definition of bad is high crime and poor schools. People will not put up with feeling unsafe and no parent wants to send their child(ren) to poor performing schools. Everything else is totally subjective..there are people who do not mind having their home located next to a highway.
High crime and poor schools I can say is truly bad. There will always be people who are more vigilant about home maintenance than others. It's unsightly, but I can't quite say that is "bad". To clarify, what is an "uneducated resident"? Someone who doesn't have a degree? A neighborhood is bad if it doesn't have a preponderance of degreed individuals? I'm actually curious.
My definition of bad is high crime and poor schools. People will not put up with feeling unsafe and no parent wants to send their child(ren) to poor performing schools. Everything else is totally subjective..there are people who do not mind having their home located next to a highway.
Let's use DC as an example. 36% are functionally illiterate, with a MUCH higher % in the eastern district. Degrees don't even register in those neighborhoods. There does however seem to be a large # of people with degrees choosing better neighborhoods when you break it down. Whether it's the degrees making it that way or just self selection is kind of irrelevant.
Most people don't want to live next to a highway or busy road. Ever notice the homes in those areas tend to be more rentals or run down? They're generally undesirable and people factor this in to their purchase decisions. Now you may know of a few people that prefer to breathe in dust and exhaust, and listen to a river of cars go by all night, but it's not normal.
Neighborhoods do change.
Gentrification is not a myth.
Urban pioneers tend to buy better houses in crappy neighborhoods.
Having bought my second house for cash with the profit I made selling my first house — which was a bad house that I rehabilitated in a gentrifying neighborhood — I am proof that this sometimes works. But I would advise looking for a neighborhood that has been designated as an improvement or "renaissance" zone by the local government and public money is available to assist in the gentrification. Funds that are available to small business owners to improve the local establishments, as well as money for home buyers.
I was able to get a low-interest loan sponsored by my city with only 5% down on the house. I had a very thorough inspection of the house before I signed, to make sure I was aware of all the repairs that would be required. And I had cash (what would have been the rest of my down-payment had I gotten a conventional mortgage) that I could use to start the rehab.
In the current economy, I suspect that these situations are few and far between as local governments are against the ropes. But if you can find one, and are willing to do some hard work, it can be financially advantageous.
I think the poll at this point has answered the question!
Maybe it should have been "A nice house in a neighborhood you never gave much thought to" which seems to be the case for a lot of people who fall in love with a place and regret it.
"Bad" is subjective. What is a "bad" neighborhood? For some people, "bad" is a neighborhood that doesn't look like Wisteria Lane, or has people making less than 100K, or lots of blue collar families, etc. I see the word "bad" bandied around frequently concerning neighborhoods and when you evaluate them by such things as crime statistics and location, they are in fact not bad at all.
Leave your mom's opinion out of it. Do what you want to do and live where you want to live. If I had listened to my mother I wouldn't be successful today. Show her the house AFTER you have made the purchase. Unless she's paying for it, she doesn't get a say.
this is the most conclusive poll ive ever seen on an online forum
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