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- Dan, "the_country_hick"
- Contributions:4699
Since this was asked in 2009 the apparent answer would have been to rent. The lost equity since that time would not allow an equity increase and losing that much value could have lost the "love" factor the house once held.
- user1258518
- Contributions:2
With the right realtor's help you should be able to satisfy both needs.
- Brady Augustine, "Brady Augustine"
- Contributions:5
I recommend purchasing a home that you love that is also located within an area that has always performed well historically
this post is over 3 years old...
- Alp Kantar, "AlpKantar"
- Contributions:11
Maybe you can do both...
Buy a great investment property with high rental income, than rent an apartment you love!
Best,
Buy a great investment property with high rental income, than rent an apartment you love!
Best,
- Seth Captain, "CaptainSeth"
- Contributions:142
This is the real estate equivalent of 'boxers or briefs?" Maybe some deeper daily philosophical conundrum like "work hard now so I can retire early and comfortably" or "take it easy, maintain free time, work to get by, and accept that I may die tomorrow or simply work into old age"
If the home is priced fairly, and you can afford it, my vote is for love. And unlike the dwindling love that complicates so many marriages, when you're love affair runs out with your house, a simple for sale sign and new real estate listings will send you on to your next love, all without the hassle of split custody and friends who don't take your side!
If the home is priced fairly, and you can afford it, my vote is for love. And unlike the dwindling love that complicates so many marriages, when you're love affair runs out with your house, a simple for sale sign and new real estate listings will send you on to your next love, all without the hassle of split custody and friends who don't take your side!
- sunnyview
- Contributions:25139
The house you love can be the house with better equity potential. My advice would be not to buy a house you hate, but one that will grow with you so you can build equity over time.
- Derek De Ville, "Derek De Ville"
- Contributions:5
Only you can decide. If it's your primary residence go with what you like because you will have to live with it everyday.
- Laura McKenna, "LauraMcKennaHomes"
- Contributions:27
As a real estate Agent I am very careful not to sell homes that are "lovable" and depreciates from the day the buyer moves in. Similar to a new car that depreciates the moment the car drives out of the lot.
I have a careful discussion with my buyers about the " Love", "Like" and "future potential" aspect of home ownership. Each buyer is different.
Loving a home is a luxury that some buyers may have to wait for.
- Shannon Rose
- Contributions:66
Buy the home you love! If you are going to be in your home for years, you want to enjoy your home and create long and lasting memories there. Of course, finding a home that will gain equity is important, but I do not think it should be your deciding factor.
- Bert Pope, "bertpope"
- Contributions:66
Absolutely, buy the home you love.
Chances are that many places may look good on paper, great buys, tons of up side. In residential real estate, the shiniest apple gets eaten first, usually.
Watch out for the lowest hanging fruit....
Chances are that many places may look good on paper, great buys, tons of up side. In residential real estate, the shiniest apple gets eaten first, usually.
Watch out for the lowest hanging fruit....
- Tom Hoffman
- Contributions:50
One if the funnest issues I face when working on with the my Clients.
In short It really depends on so many factors, a good agent will talk it over with you.
A great Agent will understand your goals and motivations so well, that they will be able to ask you the right questions, in a positive manner, so that you can reach a decision that satisfies both your emotional, and practical goals.
Buying a house is easy finding a great home takes care.
Tom
In short It really depends on so many factors, a good agent will talk it over with you.
A great Agent will understand your goals and motivations so well, that they will be able to ask you the right questions, in a positive manner, so that you can reach a decision that satisfies both your emotional, and practical goals.
Buying a house is easy finding a great home takes care.
Tom
- Caveat Emptor
- Contributions:500
*hopes you bought the home you love because equity potential is, predictably, MIA.
PS. i hate all of you
Wes
Craig
Monica
JoEllen
Sam
Leslie
Other Monica
Patricia
Sunny, i don't hate you, BUT...
PS. i hate all of you
Wes
Craig
Monica
JoEllen
Sam
Leslie
Other Monica
Patricia
Sunny, i don't hate you, BUT...
- Wes Black
- Contributions:509
Buy the house you love!
- Patricia Lee, "PatriciapLee"
- Contributions:1
The experience about finding a home you love is like finding a person you fall in love with. It is hard to explain why you love someone to other people. If you fall in love with a property, go for it! Trust your own judgement! After all, you are the one living in the home. You can not love your home based on someone else's judgement.
Good Luck!
Good Luck!
- JoEllen Ufner - ABR,GRI,SFR, "jufner"
- Contributions:397
That my friend is only a question you can answer...what is more important to you? You are the one who must live there....best of luck soul searching
- Sam Carroll, "capital downtown"
- Contributions:51
Buy the one with equity potential. Sure you might suffer some initial remorse but I think that will fade. Especially when the unexpected happens or its time to naturally move on. You don't always have to settle for the unloved house but be sure you're in a position to pay for that privilege.
- Mike Vazquez, Realtor at ERA, "Mike Vazquez"
- Contributions:62
The post is aging and you've likely done something already, but if not....to me it would depend on how much equity. I usually advise my clients to get what they want if they plan to live there a while. But if there is significant equity potential that you can realize in a timely manner it may make sense to grab the house you aren't in love with for the time being then go for something else later. Unless of coarse the house you are in love with is one of a kind, then maybe I wouldn't pass it up.
Good Luck
Good Luck
- Kim Abelite, "Kim Abelite"
- Contributions:110
Make a checklist of your LOVE items from property A, then see if the items are they related to cosmetic differences or are they based on location.
If your LOVE items are cosmetic (wood floors, granite counters, etc.) you should definitely go with the home that has more equity potential because you can customize the design of your new home. Which is also the most fun option! :)
If your love items are more about the location go with Property A because you will never be able to change or re-design the location. This is something not worth sacrificing.
If your LOVE items are cosmetic (wood floors, granite counters, etc.) you should definitely go with the home that has more equity potential because you can customize the design of your new home. Which is also the most fun option! :)
If your love items are more about the location go with Property A because you will never be able to change or re-design the location. This is something not worth sacrificing.
- Leslie Brophy, "Mspacreal"
- Contributions:13
If your going to live there, buy what you love, who knows the one you feel has better potential might down the line not be such a great deal. Buying the one you love should give you the enjoyment of coming home every night and being happy where you are.
- sunnyview
- Contributions:25139
Some houses have better upward potential per square foot upon resale than others that have a similar price per square foot. ll buyers should ask their agent about that. If the agent has no comment or does not know what you are talking about, it may be time to find another agent.
- Craig 4321, "Craig4321"
- Contributions:87
How does one home have equity 'potential' over another property?
- Betsy Pepine, "Get Listed Get Sold"
- Contributions:70
I personally would buy the one I love. You can invest other money in "investments." While housing can be a nice investment, it also influences how you feel on a daily basis. I would much rather be surrounded by an environment that I love than be in something that I don't care for but that I know is making me money. Don't underestimate the role surroundings play in your quality of life.
Thankyou Nathan and Joe!
Since Jan 2009, this poor buyer has been waiting for your prescient advice!
READ THE FLIPPING DATES!!!!
Since Jan 2009, this poor buyer has been waiting for your prescient advice!
READ THE FLIPPING DATES!!!!
- Nathaniel Pitchon-getzels, "Getzelshomes"
- Contributions:103
Are you planning on living their a long time?
If yes then buy the house you love.
Are you planning to move withing the next 8 years?
If yes but the house that has the best equity
If yes to both then you will love the house in the end because of the money it makes you when you sell
If yes then buy the house you love.
Are you planning to move withing the next 8 years?
If yes but the house that has the best equity
If yes to both then you will love the house in the end because of the money it makes you when you sell
- Joe Sciarrino, "Joe Sciarrino"
- Contributions:246
It would depend on your financial situation. If you are looking to invest a majority of of your savings, go with the equity home. If you can afford a potential dip or future loss, go with the one you love.
- ACI Broker
- Contributions:123
Really depends on your long term and short term goals.
If its going to be a home you live in for a long time then go with something you love, however its its a short tem thing that your going to be in for 3-5 years but my keep as investment property later then its better to go with what will give you the most equity leverage at a later time as it will yield more profit for you in the end.
If its going to be a home you live in for a long time then go with something you love, however its its a short tem thing that your going to be in for 3-5 years but my keep as investment property later then its better to go with what will give you the most equity leverage at a later time as it will yield more profit for you in the end.
- jal74
- Contributions:1077
Actually for the near term and the medium term, you are better off renting and not buying at all. When prices actually stop declining - see the just published case-schiller index which dropped another 18.6% y over y.
Regards
Regards
- Debra Enos, "Beach Cities Realtor"
- Contributions:44
How long are you planning on being in the home? Is the home that you love in a questionable area? If not, and you plan to be in the home for at least 5 years - or more, go for the one that you will be happy in. After all you will be living there for a while. Take the two homes that you are considering and write down in two columns "what I love about the house" and "what could be better about the house". Do this for both homes, consider location, schools, needed repairs/updating cost, floor plan, neighborhood, and things like the kitchen, the yard.....and the little things you particularly liked......Then compare.
- Walters Consulting
- Contributions:1661
I say show me the equidy...if its out there?
Is it better to buy a house I love or one that I know has better equity potential?
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