We have found two homes, each with a decent school district. We're not settled on either house, but thus far these two houses are in our shopping cart so to speak.
House #1: At the middle-upper end of our price range, clean, a house and area we could live in for 10+ years, only 15 miles extra miles to work for my husband. Seller is happily working with us. Also, it is in an area that is in the path of the expasion of the metro area meaning that the value of the house could potentially go up in the next decade.
House #2: At the upper end of our price range, semi-clean but will need some work. More bedrooms, but in a less attractive and safe neighborhood (streets are currently under construction and won't be completed until late 2007). It's a 1993 house built among houses built in the 20s, and it's a split-level which can be difficult with small children. It adds 8 miles to my husband's work commute.
2007-03-26 06:23:15 · 6 answers · asked by FaZizzle 7 in Business & Finance ➔ Renting & Real Estate
What advice can you give us concerning this choice?
House #1 is a GREAT buy for the nieghborhood, but the mother-in-law is going to moan and groan because it's 10 miles away from her (even though she never visits).
House #2 is an okay buy with fixing up but will satisfy the MIL because it's only 4 blocks away from them.
2007-03-26 06:24:27 · update #1
I have to agree with the other answers that #1 sounds a bit more attractive. Here's why:
*less expensive - you'll need money for repairs of #2 house, plus it's already at the upper end of your price range. The utilities will probably be higher for #2.
*location - #2 is a relatively new house in a neighborhood of old houses, which may make it harder to sell in the future. Especially in a less attractive and safe neighborhood. This might cause problems for you if the neighborhood gets worse.
*investment - you said it yourself. The value of house #1 could potentially go up in the next decade.
However, you haven't mentioned taxes. Keep those in mind when you are considering either house. Make sure you know what the taxes will be once you buy the house at it's current price. My taxes tripled over what the seller reported based on my purchase price.
Also, the commute distance isn't that much different, but if the area of house #1 really booms, that extra seven miles make add serious time to the commute.
And finally, keeping family happy is no trivial thing. Maybe the mother-in-law will be much more likely to babysit if you buy house #2. How much is that worth to you?
You are in a unique situation that you have two pretty good homes from which to choose. Whichever you choose, good luck!
2007-03-26 14:19:03 · answer #1 · answered by Quicken Loans 5 · 0⤊ 0⤋
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2016-11-23 17:01:20 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Forget your mother in law and go with the best one that suits your needs and won't blow your budget. It really sounds like the first one is the one you want. For 10 miles your MIL can drive herself over. This is a purchase for you & your family, not your In-Laws.
2007-03-26 06:32:22 · answer #3 · answered by chelebeee 5 · 1⤊ 0⤋
The best house hunting advice I ever heard, you can't change the neighbourhood, you can always chnge the house. Neighbourhood should be your #1 factor.
2007-03-26 06:42:46 · answer #4 · answered by babypocket2005 4 · 1⤊ 0⤋
There are only THREE factors in determining what home to purchase (and your whining mother-in-law isn't one of them). They are: Location, location, and location.
2007-03-26 07:21:50 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Go with number one. Less repairs and suits to your needs.
2007-03-26 06:39:04 · answer #6 · answered by justme 2 · 1⤊ 0⤋