[lunarcy]

Hi, Guys:

A quick question ,
I'm looking for a Single House in Westport, for kids to go to schools there,
Range is around 600K to 850K,

Currently I see a House around 800+K, want to make an offer,
the house style is Raise Ranch, 2500+ sqft, and 4-5 beds, location is good, condition is good.
(Natural gas for heating, City water and sewer are these good advantages?)

It looks like, normally for the similar size and condition, a Colonial will be more popular, and price is higher, more buyer competition.

So would like to ask 800+k to get a Raised Ranch, will it be a good idea to go ahead?
and will it be difficult to sell some years later?
Oh maybe waiting for more time to see if can find some a decent condition Colonial?

800+K is not a small number for us, so would like to listen to more info and ideas from you guys.
Appreciate.

Thanks,
Bin

[MrGompers]

Westport is very desirable, so you have that going for you. IMO one of the biggest issues with a raised ranch are the steps. You won't be selling to the elderly or disabled people, but that is probably a small demographic and won't impact you much when its time to sell.

[willow wind]

Natural gas- very good- least expensive heating option.

City water/ sewer- good- removes the cost of replacement/ of well and septic

But what is the 2500 square feet ? Is it all on the main living level ( the level with kitchen, dining room,
etc.) Or are some of those bedrooms, bathroom and square footage in the finished basement ? Many people looking for 4 + bedrooms are looking for them on the main level. Rather than 2500 square feet, the house may have far less than 2500 square feet.

For appraisal purposes, only fully above grade living space is considered to be the above grade square footage. Anything below grade or partly below grade is finished basement. Nothing wrong with that but many people looking for 4 or more bedrooms want to see it all above grade ( colonials, cape cods, sometimes a contemporary.) It makes a raised ranch a less desirable style.

It's marketable, of course, but appeals to a lesser range of buyers. Only you can decide if this is something you want. A raised ranch in spectacular condition may be more attractive to you than a two story home that needs lots of work.

[JayCT]

It is hard to say if this is a good price or not. Colonials are more popular but should be more expensive. Ask your agent for a list of comparable sales in town. That should give you an idea if the price is reasonable. You could also research it yourself if you want. Westport is a pricey town so $800,000 for a raised ranch may be a decent deal if it is on a good level lot on a quiet street. The fact that it has public utilities is definitely a plus. Jay

[lunarcy]

Originally Posted by MrGompers

Westport is very desirable, so you have that going for you. IMO one of the biggest issues with a raised ranch are the steps. You won't be selling to the elderly or disabled people, but that is probably a small demographic and won't impact you much when its time to sell.

Thank you very much for you quick reply

[lunarcy]

Originally Posted by willow wind

Natural gas- very good- least expensive heating option.

City water/ sewer- good- removes the cost of replacement/ of well and septic

But what is the 2500 square feet ? Is it all on the main living level ( the level with kitchen, dining room,
etc.) Or are some of those bedrooms, bathroom and square footage in the finished basement ? Many people looking for 4 + bedrooms are looking for them on the main level. Rather than 2500 square feet, the house may have far less than 2500 square feet.

For appraisal purposes, only fully above grade living space is considered to be the above grade square footage. Anything below grade or partly below grade is finished basement. Nothing wrong with that but many people looking for 4 or more bedrooms want to see it all above grade ( colonials, cape cods, sometimes a contemporary.) It makes a raised ranch a less desirable style.

It's marketable, of course, but appeals to a lesser range of buyers. Only you can decide if this is something you want. A raised ranch in spectacular condition may be more attractive to you than a two story home that needs lots of work.

Thanks a lot for you reply and info,
This one has 5 Bed Rooms total,
in the Main Level, has 4 Bedrooms, Kitchen, Living Room, Family Room and 2 Bths.
Lower Level has 1 family room, 1 bedroom, 1 office, garages and other spaces.

[lunarcy]

Originally Posted by JayCT

It is hard to say if this is a good price or not. Colonials are more popular but should be more expensive. Ask your agent for a list of comparable sales in town. That should give you an idea if the price is reasonable. You could also research it yourself if you want. Westport is a pricey town so $800,000 for a raised ranch may be a decent deal if it is on a good level lot on a quiet street. The fact that it has public utilities is definitely a plus. Jay

Hi, JayCT, Thank you very much for your reply,
For the Comps, should I pick all Raised Ranches?
I did 2 times of Comps on 2 websites including all styles, it's around 870K to 890K

And the location is not very far from the Post Road, but not too close either,
Sitting in a Cul-de-sac.
myself like the location, and walk-able distance to lots of amenities and stores is a plus to me.

[Raider111]

House will appeal to buyers looking to get a foot in the door near the bottom end of the market there regardless of style, size, floor layouts, stairs and so on. Beggars can't be choosers. You will not find a 2500 ft colonial in top condition for 800K there. Buyers here are looking for higher standardized test scores and name brand recognition over a much larger home in the bookend bordering towns. Its not say a Colechester or something where everything costs about the same and styles may be a factor.
Doubt any elderly or disabled people are looking for 800K single family homes of any style so I wouldn't worry about that.

[willow wind]

Pick raised ranches as comparables and perhaps add in split levels or ranches with similar bedroom count on the main level and a finished basement.

Leave out two story homes ( capes, colonials, etc.) as these will usually appeal to a different buyer.

[JayCT]

Originally Posted by willow wind

Pick raised ranches as comparables and perhaps add in split levels or ranches with similar bedroom count on the main level and a finished basement.

Leave out two story homes ( capes, colonials, etc.) as these will usually appeal to a different buyer.

I don't think you could include ranches. I am seeing ranches selling for a premium these days so I don't think they are comparable. Not sure how many recent sales of raised ranches and splits sold recently there though. Jay