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Both on the market for almost a year now. It seems that anyone in the area looking for large, and over $200000 wants the new neighborhoods for kids. Only one school district, so that doesn't matter.
It is possible they are both overpriced as well.
1st is 1930 model
2nd is 1960 custom model
# 1
Pros:
Walked into it, and fell in love, like no other house I have ever looked at - have seen twice
Very well taken care of and updated old house
Can probably get for about $200000
Taxes a bit lower
Feels light/ bright
Within walking to old downtown
My favorite area
Can just not use upstairs and finished basement
Cons:
On busier street (1 side) - is quiet inside, but would not be peaceful when in the yard, not sure that matters to me. I walk a great deal, don't spend time sitting in the yard.
Will need to fence - for my dogs
Would need to finish painting outside 1/4 of the house
Much bigger than I need (or want for utilities) at least 1000 sf larger than #2. It is over 3000 sf total
Everything is in great shape, but kitchen not as up to date as most want - I don't care, appliances are new.
#2
Pros:
location, location, possibly location - very quiet neighborhood, was very upscale 60s & 70s, maybe 80s
Great landscaping and fencing
Gorgeous up to date kitchen
Nicely taken care of house - has curb appeal
Smaller (better size for me) still close to 2000 sf
Cons:
Higher taxes (a bit)
Did do not "feel" it - going to look again though
Back yard nice, wide but not deep
Would need to pay about $230000ish
Would need to remove carpet from living area
Feels dark
Not walkable to anything
Do we really pay more than $20000 for location, fencing, and an updated kitchen?
It might all be a moot point, as I will be looking at others as well. But I have been thinking of these 2 quite a lot. I thought I'd see what opinions are here.
So far everything I have seen that are cheaper end up being fixers of some sort, and I really want to avoid that. Anything higher doesn't make sense for the area for me, and I am not interested in newer models.
Is there something you are leaving out? I'm failing to understand why the location to #2 is so desirable if #1 is in a walkable neighborhood and that is important to you. Quiet is important, but a neighborhood that was desirable 50 years ago shouldn't really be a factor now.
It sounds like #1 is an overall better choice. You have to decide if you can live with the location.
While house hunting, I discovered that sometimes location isn't always the priority. I looked at two townhouse style condos in the same community, priced only $3K apart. They were the same size. One was on a cul-de-sac and it would have been very quiet and no traffic. The other was the first condo on the entrance. The complex was off of a busy road. I like the floor plan of the house closer to the busy road much, much better. Obviously, the quiet cul-de-sac was a favorable location. Ultimately, I decided that I spend the majority of my time INSIDE the house, and the amount of months that windows are open (noise) is pretty minimal here. I decided I'd prefer to go with the floorplan I liked over the one I'd have to learn to deal with. (And in the end I didn't end up getting either, lol.)
Is there something you are leaving out? I'm failing to understand why the location to #2 is so desirable if #1 is in a walkable neighborhood and that is important to you. Quiet is important, but a neighborhood that was desirable 50 years ago shouldn't really be a factor now.
It sounds like #1 is an overall better choice. You have to decide if you can live with the location.
While house hunting, I discovered that sometimes location isn't always the priority. I looked at two townhouse style condos in the same community, priced only $3K apart. They were the same size. One was on a cul-de-sac and it would have been very quiet and no traffic. The other was the first condo on the entrance. The complex was off of a busy road. I like the floor plan of the house closer to the busy road much, much better. Obviously, the quiet cul-de-sac was a favorable location. Ultimately, I decided that I spend the majority of my time INSIDE the house, and the amount of months that windows are open (noise) is pretty minimal here. I decided I'd prefer to go with the floorplan I liked over the one I'd have to learn to deal with. (And in the end I didn't end up getting either, lol.)
Thanks. This is what I was getting at! Sorry if I left out parts. I would be inside, or out walking the neighborhood - depending on the weather.
The first house is in a semi-desirable old neighborhood from the 1920s - 1930s so just in comparison town was built around it, it was built before those "new" true neighborhoods of the 60-70s. I say semi-desirable because I know there are only a select few if us interested. But there are gorgeous old Tudor style everywhere. So far none for sale. But this one even has the old radiator heat that I love, and original windows.
That 60s neighborhood has since grown (built onto) 10 streets down with npbigger, newer neighborhoods, additions, while house # 1 is now in an older, though gentrifying neighborhood, in town.
Mostly I am afraid of going with my heart, though I havent yet acted on it. just trying to think it all through.
And this house has come down in price more tha $20000 already, and I have the feeling I could offer $20000 less for it at this point.
The #2 house really has no greater value (except the area that people are still building around) yet I would only be able to "maybe" offer them $10-15 less, leaving me at still about $230000.
Truly I don't believe they will get what they are asking, and I can't in good concience pay that, even if I think it is that nice a house. The market will not rise high enough for it to be worth that amount any time in the next 10-20 years at the soonest, and it could even drop out. I just don't want to face retirement with a more expensive house that will not sell.
Actually # 1 could easily have an apartment added.
Also, houses $300000-$900000 (not a lot,and NOT at all a hot market) have sold in the past year, so it seems the middle ground is somewhat stalled.
Like they say "You can always change the house but you can never change the location"
I know "they" say that, which is why I posted.
Unfortunately I have not found a house I love in a location I come close to really wanting - though number 1 is close... So, do I take a house that is just tolerable to me for $30,000 more in a better location? And maybe live there forever, just "liking" not loving it?
Resale will not figure in, am due if I pay too much now I will NEVER get it back p, unless a miracle happened.
Oh and I don't want to change the house once I buy it. Tired of moving
If you really love the location, it's always better to opt for renovation. The benefit of renovation is such that you can make your home the way you want.
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just trying to think it all through. 
