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Thank you Shanny.. I am very excited about this. My DH tells me that you can always make changes to the house but you cannot change the area where the house is on... I like that area, it is over by a private greenway..I think Greenacres... Anyone familiar with that area?
Buy the WORST house in the BEST neighborhood! Not the other way around!
Oooh, you gotta be a pretty self-effacing person to do that, with small ego and no vanity.
I know someone, call her "B", who, when asked what neighborhood she lived in, always got, "Oh! What a great location!", and she'd turn downcast and mumble, "Yeah, but we have the worst house on the street." Shanny's suggestion sounds smart, but if you're even a bit of a keeping-up-with-the-Joneses type ("B" is not, btw), this choice will not be easy to live with.
Maybe find an average house in an average neighborhood?
Oooh, you gotta be a pretty self-effacing person to do that, with small ego and no vanity.
I know someone, call her "B", who, when asked what neighborhood she lived in, always got, "Oh! What a great location!", and she'd turn downcast and mumble, "Yeah, but we have the worst house on the street." Shanny's suggestion sounds smart, but if you're even a bit of a keeping-up-with-the-Joneses type ("B" is not, btw), this choice will not be easy to live with.
Maybe find an average house in an average neighborhood?
Realtors always say what Shanny suggested. Even the worst house will go up in value in a good location, but with a bad location a house could go down drastically.
Ah, but the realtor doesn't have to live in it, drive up to it every night and see it set among better houses thinking "Mine." The buyer does.
In this age of McMansions, what increases in value is the land, not the house. Are you buying a home or are you making an investment? Probably both. You have to weigh the two.
Ah, but the realtor doesn't have to live in it, drive up to it every night and see it set among better houses thinking "Mine." The buyer does.
In this age of McMansions, what increases in value is the land, not the house. Are you buying a home or are you making an investment? Probably both. You have to weigh the two.
I am curious.. like you said in the age of McMansions... when you build a house like that, what DOES increase the value of the house, area, or land? From an economic point of view... Does it increase the value of your house.. or no? Is it the house? Or the land that bring that value?
Did you hear about the Pennsauken house that was the Exreme Makeover house from last summer?
They made it this garagantuan house among a bunch of modest, older homes in a so-so neighborhood.
The people cannot afford the upkeep so now they want to sell it. They originally listed it for $499,000 in an area that has homes more in the 180-200k range. It will never sell due to the fact that it won't be financed. What bank is gonna give a loan in an area where it's neighbors homes are worth more than half of that?
According to today's paper, it was yanked off the market after one day. A lot of people are upset they are trying to sell it.
Geez, Louise!
~Shanny
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Shanny's suggestion sounds smart, but if you're even a bit of a keeping-up-with-the-Joneses type ("B" is not, btw), this choice will not be easy to live with.
