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Old 02-07-2011, 03:43 PM
 
Location: My House
34,937 posts, read 36,082,956 times
Reputation: 26541

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Before we decide we can't find the location/spaces we need in a home without a 500k plus price tag, we are attempting to figure out whether or not this is a good place to buy.

I love the idea of a really affordable house... but... I don't want to buy in a neighborhood where upgrading/adding on/finishing walkups, etc really is going to be not so much worth it when (if) we want to sell.

I know that not all upgrades/renovations will get much of a return, so this is all subjective re: what we might want to do to our house, but still, there are some neighborhoods where adding granite countertops is pointless unless you just adore granite and don't mind not recouping a dime of the cost when you sell.

Soo... anyone who lives there (or used to), I'd love to hear from you!
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Old 02-07-2011, 06:29 PM
 
Location: Fuquay-Varina
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In this market, upgrading anything will basically only be for your benefit, adding little to the value of the house in ratio to what was spent to achieve it. My wife is an appraiser and this is a subject we talk about quite a bit. If you are upgrading a house that lacks what most of the other neighborhood houses already have, you can improve your recovery ratio though, generally speaking.
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Old 02-08-2011, 07:57 AM
 
3,500 posts, read 6,141,592 times
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I've lived in that neighborhood for almost 15 years now. In that time, we've done a lot of upgrading: added an elevator, went from siding to brick veneer, installed hardwoods or marble tile where there was none, granite countertops, etc. We've probably done more than most neighbors, but I know quite a few neighbors who have done a lot of upgrading or adding on.

But I'm not sure what you're really asking for, though, in terms of feedback. What specifically do you want to know?

I can tell you that we love the neighborhood. It's in a great location; houses are reasonable; lots are decent by Cary standards. Home values seem to be pretty good, compared with other stuff in the area.

ETA: I agree with sacredgroves. We bought our house as a HOME, not as an investment to sell for a fat profit, so our upgrades were done to satisfy our desires. However, it's also a truth that if you try to sell an "older" home, you'd better have done SOMETHING to it -- usually kitchen & bath remodels.
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Old 02-08-2011, 09:15 AM
 
Location: My House
34,937 posts, read 36,082,956 times
Reputation: 26541
You've both given me pretty much exactly what I was looking for. It seems that the types of upgrades we would do would add value (finishing up a walk-up attic, upgrading appliances/countertops, flooring, etc.).

Also, thanks for your insights, skaternum! It is a lovely neighborhood, from what we've seen. We drive through it now and then, as we don't live too far away from it right now.

There's a home for sale over there right now on Sandy Hook. It just looks like not much was ever done to it. The price is decent, but I just don't feel it for that house, yanno? We almost went for another one there awhile back, but it was a wee bit too small. We will have to keep an eye out on the area. It seems like a good place for kids, and we love being close to the greenway.
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