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View Poll Results: Nice house in a bad neighborhood or bad house in a nice neighborhood?
Nice house, bad neighborhood 4 3.10%
Bad house, nice neighborhood 125 96.90%
Voters: 129. You may not vote on this poll

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Old 04-04-2013, 08:15 AM
 
Location: BNA -> HSV
1,977 posts, read 4,186,592 times
Reputation: 1523

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There is pretty much one thing that can't be changed about a house and that is location...
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Old 04-04-2013, 08:20 AM
 
Location: Philaburbia
41,745 posts, read 74,721,167 times
Reputation: 66680
Fixing a house is under your control.

But fixing a neighborhood is never under your control, and it can take decades if it happens at all.
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Old 04-04-2013, 08:53 AM
 
Location: St. Louis, MO
4,009 posts, read 6,830,339 times
Reputation: 4607
Easy. Bad House- Nice Neighborhood. You can always make the bad house, 'nice' or demolish and start again (as the land values in a nice neighborhood will most likely be higher than that of a bad neighborhood).

With a Nice House in a Bad Neighborhood, it won't take long before that house isn't so nice anymore- it will decay like the rest of the area eventually.
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Old 04-04-2013, 08:55 AM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,674 posts, read 29,584,857 times
Reputation: 33222
Default On the other hand

Neighborhoods do change.
Gentrification is not a myth.
Urban pioneers tend to buy better houses in crappy neighborhoods.
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Old 04-04-2013, 09:19 AM
 
5,075 posts, read 11,013,462 times
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Quote:
Originally Posted by davebarnes View Post
Neighborhoods do change.
Gentrification is not a myth.
Urban pioneers tend to buy better houses in crappy neighborhoods.
Normally I'd agree with that, however the last market cycle seriously depressed certain neighborhoods that might have improved were it not for a huge concentration of bad loans.

Not that it's going to stop gentrification altogether, but within certain communities it created a strong headwind against it.

Now is probably a good time to focus on areas that are still/already showing signs of gentrification despite the bubble. Neighborhoods that haven't turned up may have serious problems holding them back for years to come.
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Old 04-04-2013, 09:26 AM
 
32,944 posts, read 3,901,397 times
Reputation: 14355
Quote:
Originally Posted by AZGal25 View Post
So, of course, these terms are all relative, but what do you think? Two houses the same price, one is really nice but in a bad neighborhood (high crime) and one is old and needs a lot of work but is in a really nice neighborhood.
Really?? You would consider living in a high crime neighborhood? Since your mother doesn't have a problem with her daughter living there (bummer!) would she live there on her own??
I seriously can't believe this question is being asked again!

Last edited by geebabe; 04-04-2013 at 09:33 AM.. Reason: typo
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Old 04-04-2013, 09:30 AM
gg
 
Location: Pittsburgh
26,137 posts, read 25,802,562 times
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Location, location, location.
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Old 04-04-2013, 09:57 AM
 
115 posts, read 367,688 times
Reputation: 133
Quote:
Originally Posted by davebarnes View Post
Neighborhoods do change.
Gentrification is not a myth.
Urban pioneers tend to buy better houses in crappy neighborhoods.

That might work in really urban areas. From my experience buying my first house, never again in a bad neighborood. Not only do I hate living here, but the neighbors aren't exactly the friendliest.
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Old 04-04-2013, 10:13 AM
 
118 posts, read 317,276 times
Reputation: 76
Quote:
Originally Posted by cully View Post
Well, by your name, you're likely a female. And your mom wants you to live in a bad neighborhood?
Well, it's like she doesn't even notice the neighborhood. She did the same thing when they bought their house. She found a house she liked and didn't do any research on the neighborhood and ended up in an undesirable area.
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Old 04-04-2013, 10:50 AM
 
5,075 posts, read 11,013,462 times
Reputation: 4664
Quote:
Originally Posted by AZGal25 View Post
Well, it's like she doesn't even notice the neighborhood. She did the same thing when they bought their house. She found a house she liked and didn't do any research on the neighborhood and ended up in an undesirable area.
Time to leave your mom's opinion completely out of the purchase decision. My parents were a little puzzled by my decision to buy a 65 year old house vs a less expensive new house in the suburbs. I valued being in an established and stable neighborhood over rolling the dice on a new one.
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