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Answers (4)
- droopyd
- Contributions:403
"it is unusual for a so so neighborhood to flip to nice/desirable neighborhood."
That's not necessarily true... my neighborhood in Los Angeles (Eagle Rock/Glassell Park) was considered fairly "seedy" as recently as a decade ago due to gang activity.
That's been cleaned up, and now the neighborhood is considered to be somewhere between "up and coming" and "desirable."
However, it does take time for the general perception of a neighborhood to change. And it can go both ways -- a "nice" neighborhood today might become "so so" in 20 years time.
That's not necessarily true... my neighborhood in Los Angeles (Eagle Rock/Glassell Park) was considered fairly "seedy" as recently as a decade ago due to gang activity.
That's been cleaned up, and now the neighborhood is considered to be somewhere between "up and coming" and "desirable."
However, it does take time for the general perception of a neighborhood to change. And it can go both ways -- a "nice" neighborhood today might become "so so" in 20 years time.
- sunnyview
- Contributions:25139
I vote for the better neighborhood. A state of the art kitchen and bath in a house today will be passe in 10 years, but it is unusual for a so so neighborhood to flip to nice/desirable neighborhood. If you buy the cosmetic fixer that is solid in a good neighborhood with a good floor plan, you will come out ahead when you sell as long as you remodel smart.
- Walters Consulting
- Contributions:1661
YES.
Any time you can do the fixes your self you win.
My advise would be take the fixer if it mainly just needs cosmetics.
If you can get your Home Depot card out and purchase your own materials and hire help by the hour and do a lot of it yourself and not contract the work you will come out thousands ahead.
Any time you can do the fixes your self you win.
My advise would be take the fixer if it mainly just needs cosmetics.
If you can get your Home Depot card out and purchase your own materials and hire help by the hour and do a lot of it yourself and not contract the work you will come out thousands ahead.
- Michael Remacle, "lahomeconnection"
- Contributions:49
It's usually best to buy the least expensive property in a nicer neighborhood rather than a great house in a not so nice neighborhood---this gives you the most upside potential.
It's hard to say if your budget is reasonable without knowing the specifics of what you're looking for---i.e. what neighborhoods and what size of home.
Best,
Michael
[content removed by moderator for being self promotional]
It's hard to say if your budget is reasonable without knowing the specifics of what you're looking for---i.e. what neighborhoods and what size of home.
Best,
Michael
[content removed by moderator for being self promotional]
Is it better to buy the cheapest and biggest property in the best neighborhood and fix it up? Thx
I actually want to find a great home that is solid/sound but has the space, bedrooms/baths I am looking for, but one I will have to fix/renovate myself that is a reasonable price between 350,000 and 550,000.
Is that possible???
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