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Personally I'd much rather buy an "older" (10+ years old) house that needs a little updating and is built solidly (good "bones") compared to one of the newer crackerbox houses, many of which aren't built nearly as well. Much more value for the money. We looked at a couple of new construction houses and walked right back out. You can buy a much better existing house for the same money.
That was the same thing we thought when we looked at the new construction v. the older homes...
Personally I'd much rather buy an "older" (10+ years old) house that needs a little updating and is built solidly (good "bones") compared to one of the newer crackerbox houses, many of which aren't built nearly as well. Much more value for the money. We looked at a couple of new construction houses and walked right back out. You can buy a much better existing house for the same money.
That was the same thing we thought when we looked at the new construction v. the older homes...
If your question was more about which older areas of the city best price value retention, here are areas I would recomend/ avoid based on 8 years of living there and getting a degree in urban planing:
Best areas for appreciation:
1. Tates Creek Rd, Richmond Rd & Alumni Dr INSIDE New Circle -- This is where all the professors live
2. SW Lexington - Outside New Circle along Harrodsburg, Clays Mill, and Boston Roads. The area along Boston Road south of Man o War is really nice
Areas to avoid
1. Anything North of Main Street
2. Versailles Road and also Winchester Road areas (aka Little Mexico)
3. Tates Creek Road & Alumni Drive btw New Circle and Man o War (lots of public housing around TC High School
I have lived in Lexington all my life. I grew up in a house from 1900's, my first house was built in 1917, my second house was a 1928 bungalow, and my current house is a 1977 townhouse (which is definitely the worst of the bunch). I would like to live in a house that is pre-1950 but that's beside the point.
Aspie; I don't think that all the professors live there because I know some that don't.
As for your suggestions to avoid, I think the people from the Historic Northside Association would disagree with you. Fayette Park, Elsmere Park and West Second and Third Sts. are very nice, but a bit pricey.
The Gainesway area has some pre-1970 houses that are well built and well maintained, while the rest of the area is mostly "starter homes" (buy,get equity built up, sell and get out)(HUD 238 Program).
All this comes from my 35 years actually working in Urban planning
If your question was more about which older areas of the city best price value retention, here are areas I would recomend/ avoid based on 8 years of living there and getting a degree in urban planing:
Best areas for appreciation:
1. Tates Creek Rd, Richmond Rd & Alumni Dr INSIDE New Circle -- This is where all the professors live
2. SW Lexington - Outside New Circle along Harrodsburg, Clays Mill, and Boston Roads. The area along Boston Road south of Man o War is really nice
Areas to avoid
1. Anything North of Main Street
2. Versailles Road and also Winchester Road areas (aka Little Mexico)
3. Tates Creek Road & Alumni Drive btw New Circle and Man o War (lots of public housing around TC High School
and getting a degree in urban planing:
[b]
1. Tates Creek Rd, Richmond Rd & Alumni Dr INSIDE New Circle -- This is where all the professors live
Hi Angry,
I doubt that there is any one place where all the "professors" (i.e. faculty) live. I'd bet that they live in many different places.
PS I don't have your degree but I think 'planning' is spelled with two 'n's.
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