When buying your first home, how important was/is location to you?
I found a wonderful house. 4 bedrooms, 3 full bathrooms, a huge front lawn and a modest back yard. It was built in 1920 and I haven't gotten a home inspection on it yet to look for asbestos and lead paint, but the work I think it needs is only cosmetic. 2067 square foot house for $125,000 (or less) is a good buy, right?
But the house is 30 miles away from my husband's job and my school and it is close (roughly 300 to 400 feet) to a railroad track.
How important is location to you with these other positives? This is our first home.
2007-02-23 00:55:24 · 11 answers · asked by tiger_lilly33186 3 in Business & Finance ➔ Renting & Real Estate
Generally $125k is not a bad price, but that depends on where you live. Manhattan - great price. North Dakota, maybe not.
If you are thinking of selling, contact a realtor and ask for a CMA (Competitive Market Analysis). They'll look at your house and what comparable houses in your area, and give you a recommended selling price. There is no charge for this service (if the realtor wants to charge for it, find another realtor).
Keep in mind that their suggested price is not perfect. Some realtors quote high prices to get you as their client, knowing that you will probably have to accept a lower offer. Some quote low prices because they want to move it quick, and what is $10,000 to you is only $500 in commission for them. So try to get a feel for how - I don't want to say "honest", but how much they're on your side and how much they are upfront about realistic selling and meeting your needs.
2007-02-23 01:06:55 · answer #1 · answered by T J 6 · 0⤊ 0⤋
It generally depends on what your goals are and if you plan on living there for a long time. If you needed to sell in a hurry for any reason, do you think potential buyers would be put-off by being close to the train tracks? If you try to sell in a buyers' market, that could turn away some potential buyers.
Some important factors to consider in buying any home is the location such as - quality of the school district, proximity to other homes, close to shopping or other attractions, crime rate, etc.
Usually, if you have a nice home in a good school district, it's often more easier to sell than a nice home in an area with a poor school district. Many buyers have children and consider schools when buying any home. Also, if the house is a "growing" area, that's usually a good sign, too.
Good luck with whatever you decide!
2007-02-24 14:37:40 · answer #2 · answered by S C 3 · 0⤊ 0⤋
LOCATION -Location -location.
I would choose location over having a BATHROOM.
I can add a bath cheaper and esier than I can sit on a bad investment.
Cant move a home thats in a bad area.
Do you want your kids playing that close to a train track. Not just noise but do you know who hops trains? The people who CANT get picked up as hitchhikers.
Don't fall in love with houses. Houses can change. Emotion is a bad bad bad way to buy anything but especially a house.
Make a list of what your house has to have. (best location(always at top), 3 bedrooms, size of backyard etc) then only look in the best area. Your buying resell value too, remember.
Have you heard it said "You cant fix Stupid"?
The same goes for buying a house. If you can't fix (location) stay away from it.
Better the worst house in the best neighborhood!!!!!
Good Luck
2007-02-23 04:15:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends which state you live in if this is a good buy.
125,000 and how much more to put in, check out the foundation of this house. Railroad track can be a positive or negative, but homes are cheaper in those locations. If it is listed at that price you can negotiate, if you really want this home.
Hire a home inspector to go through it, and this will give you more info on this home which you may be able to use in negotiations.
2007-02-23 01:05:12 · answer #4 · answered by Carlene W 5 · 0⤊ 0⤋
I want to suggest some important things:
1> Check the Distance from Airport?
2> Check the Distance from Railways Station?
3> Check the Distance from Hospital?
4> Check the Distance from School?
5> Check the Distance from Office?
6> Check the Distance from Local Transport?
7> Check the Distance from Market?
Then Most Important Also Check the Vaastu Sastra:-
Vaastu Sastra, the science containing ethics of planning and architecture, implements construction of buildings to ensure a harmonious balance between man and nature. It contributes in creating a pleasant setting or a place to live and work in the most scientific way; captivating the benefits bestowed by the five Elements present in nature, thereby paving the way for enhanced wealth, health, prosperity and happiness. The word 'Vaastu' originating from Vaastu represents physical environment or anything existing such as house, shelter, etc. and 'Shasta' represents the systems - knowledge, text or principles.
http://india-properties.in/Vaastu%20Sastra.html
Since ancient times Vaastu Shasta considered as one of the traditional Hindu standard of town planning and architecture can also be called the science of direction that combines all the five elements of nature and balance them with the man and the material. These five Elements of nature -- Earth, Water, Air, Fire and Space known as Paanchbhootas comprise the world. It is believed that out of the nine planets, our planet has life because of the presence of the five Elements.
www.india-properties.in
Now Buy a House at the nearer point where you will afford maximum of all these services.
If you are looking to buy a Real Estate in India means:
Delhi, Gurgaon, Noida, Haryana, Rajasthan or in Dubai & Australia. then simply visit www.india-properties.in
Thanks, Sitander From India
2007-02-23 02:14:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋
From my experience, living close to railroad tracks is horrible....but living out in the country is wonderful. For me I would find a home in the country away from the tracks.You will probably be there for quite awhile and that would be a negative selling point when you try to resell. Maybe that's why it is such a good price...?
2007-02-23 01:06:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Congratulations for buying such a wonderful house. I think that your house is not so far from your husband's and your place of work. I think that your first home is in a good location there are safety measures to protect your home while both of you are away.
2007-02-23 03:04:11 · answer #7 · answered by Gad S 1 · 0⤊ 0⤋
when considering location, you have to think more of how hard it will be to sell the house when you need to sell it. will you live there forever? it might be harder to resell that close to the RR track. will you (do you) have children? how close is it to schools? that's an excellent price, but why? get it thoroughly inspected before you decide. not just for asbestos and lead, but termites and plumbing and wiring and everything.
2007-02-23 01:08:19 · answer #8 · answered by wendy_da_goodlil_witch 7 · 0⤊ 0⤋
Location is very important. The price of the house is because of the tracks I am guessing.
2007-02-23 01:31:07 · answer #9 · answered by KathyS 7 · 0⤊ 0⤋
Location is very important. You will want to make sure it is close to the following:
Your place of employment
Schools
Shopping Centers
Public Transportation (if needed)
2007-02-23 01:04:35 · answer #10 · answered by Tonya W 6 · 0⤊ 0⤋