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Which house would you buy ?

Profile picture for DenverorBust
House# 1:  $229k  2200 finished sq ft (1244 on main floor + basement) Excellent elementary school and close to work, social activities and shopping. 1/2 mile from a transformer station.  Hideously ugly street presence.  Would require $140k+ in remodel, A/C installation and master suite addition.  Hate the floor plan, but w/master addition would be okay.  Love the location - neighborhood next door has $million homes.

House #2:  $334k  2100 sq ft. (unfinished basement) Bad Schools, about 3 miles further out.  Curb appeal  Floor plan is awesome (already has master suite).   Bathrooms are large and home has plenty of storage and space. Also needs A/C and kitchen remodel ($40k).  Love the floor plan - no need to add-on but the location is further out and we would have to try and choice into a good school out of the neighborhood.
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December 21 2008 - Southeastern Denver

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I'm an Exclusive (True) Buyer Broker in central Ohio. I've been representing home buyers since 1996.  Two or three things that might help you make a decision.  1.  Do you have a qualified buyer agent to represent you? this should be priority #1.  2. Try and just focus on 1-2 of the most important criteria for your new home home.  Many times home buyers get overwhelmed with the home buying process.  3.  Lastly, buying home will always be an emotional process/decision.  But, you should try and look at more of the "numbers" or financial aspects.  Value, list price, taxes, square footage, repair or remodeling expenses.  Good luck in your home search process.  Remember, 1st get a good true buyer agent in your area or  www.naeba.com is a good start.  You can also go to my blog for good articles that might help you.  http://homebuyersadvocate.wordpress.com/ 

I personally think you are leaning toward house #1.

Take care,

HomeBuyer Advocate Mike (you can Google this for more info on myself)

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December 21 2008
Profile picture for quantguy
House 1
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December 21 2008
Denverorbust
I might not buy either.  It doesn't sound like either of the homes are what you are looking for and with a budget of $330,000 you can easily find a great home in a good school district here in the Denver area.

The first home is a for sure no go.  The curb appeal and being close to the transformer is an equity killer.  In this tough market you can get incredible prices on this type of property because they won't sell.

The 2nd home sounds good but having to opt into a different school district can be a real pain and with your budget you shouldn't have to deal with this problem.  

Shoot me an email if you like and we can discuss some of the neighborhood options. daniel.herron@coloradohomes.com
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December 22 2008
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House #1 no question. A bad area will not usually change just like the location near the transformer will not change. At least with house #1, you can shoot for being the best small house in the 1M neighborhood. Somebody will jump on that dream when it is time for you to sell.
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December 22 2008
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If you have kids, schools would be my #1 priority.  Those towns also usually have lower crime rates.
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December 25 2008
Profile picture for DenverorBust

Thanks everyone - except the guy plugging his business.

I'm going with house #1 and was hoping someone would agree with me.

Happy Holidays!

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December 26 2008
 

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