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I am debating between two houses. One is 1400 sq feet and one is 1800 sq feet. A significant difference. The average home in San Antonio is probably around 1800 square feet. Both are priced at $146. The larger house has more upgrades, various. About 5K in more upgrades. The SMALLER house is in a better neighborhood. They are only about 2 miles apart. One is in a very prestigious part of town, the other is near that part of town, on the outskirts, the coat tails if you will. The houses in the smaller house's neighborhood are ALL three sides brick. The larger house is three sides brick but most houses in the large house's neighborhood are siding. The small house has an HOA with pool, basketball court, community center, park. The large house has an HOA, but only has a park. The small house's neighborhood is warm, kids playing, landscaping, joggers. The large house's neighborhood is cold, not landscaped, cookie cutter.
The home prices in the small house's neighborhood ranges from $146-$350K, with $500K houses nearby. The large house's neighborhood's home range from $105-$165.
I know, Location, Location, Location... but I'm scared to by a house at 1400 Square feet. It meets my needs, but I'm afraid I'll never sell it because it is too small.
Any advice?
Last edited by dmarie123; 02-24-2008 at 07:08 PM..
It sounds like both may be a good deal. If the smaller one has a pool, landscaping, HOA and other things, I, personally would pick it. The other may be larger but, the smaller will retain its value better because with a HOA (IMHO). Also, w/a HOA, you dont need to worry about the neighbors junking up the place. Its curb appeal will retain value. Which house and neighborhood do you feel is safer and will remain safer? 10 years from now, will the neighborhood with the larger house be run down and unsafe? Just because the both houses are the same price and one is larger than the other doesnt mean you should go w/the larger of the two. That small one looks like it has several little perks, some that will increase the property value and appeal! Luck
Well, thank you. Both are in an HOA. I forgot to mention that. One however, only maintains a park... leaving the fees at $12 a month. I have to do more research, I know the other will be more. They are both brand new nieghborhoods- I wish I could gage the "run down factor". I am not worried about the small house's neighborhood running down. It's in a very prestigious area... $146 is actually above our average home price, believe it or not.
Id say either house is a fair buy. I just prefer the one in the nicer neighborhood. Sometimes that makes the cake! You gotta live by the people, ya might as well pick the clean ones!
I'd prefer the one in the nicer area as well. Owners in those neighborhoods would do what they can to continue increasing the desirability of that area, so my guess is that it would enjoy better appreciation than the other.
Is their room on do an addition on the smaller home? If homes around the 1400 sq foot home are much larger and the floor plan and lot could support an addition, maybe adding on might make sense to get the better neighborhood? Your local agent would have to help you with that one.
I am debating between two houses. One is 1400 sq feet and one is 1800 sq feet. A significant difference. The average home in San Antonio is probably around 1800 square feet. Both are priced at $146. The larger house has more upgrades, various. About 5K in more upgrades. The SMALLER house is in a better neighborhood. They are only about 2 miles apart. One is in a very prestigious part of town, the other is near that part of town, on the outskirts, the coat tails if you will. The houses in the smaller house's neighborhood are ALL three sides brick. The larger house is three sides brick but most houses in the large house's neighborhood are siding. The small house has an HOA with pool, basketball court, community center, park. The large house has an HOA, but only has a park. The small house's neighborhood is warm, kids playing, landscaping, joggers. The large house's neighborhood is cold, not landscaped, cookie cutter.
The home prices in the small house's neighborhood ranges from $146-$350K, with $500K houses nearby. The large house's neighborhood's home range from $105-$165.
I know, Location, Location, Location... but I'm scared to by a house at 1400 Square feet. It meets my needs, but I'm afraid I'll never sell it because it is too small.
Any advice?
Personally I would go for the smaller house in the better location. Is there room to add on, maybe enclose a deck (if there's a deck).
The criteria today has changed from Location Location Location to Location Condition Price.
From what you have stated, I would choose the smaller house in the better location because the home is 3 sides brick, and the HOA has more amenities in a more friendly atmosphere.
If I were to see the area and the properties, I may make a different decision. It's difficult when we're not familiar with the area.
Given it's an HOA, it should be fairly easy to compare/contrast between comparabble home models and closed price per square footage.
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