Pros/Cons Socially and Financially in your choice???
Thanks.
2007-09-01 10:24:02 · 17 answers · asked by jennifer74781 4 in Business & Finance ➔ Renting & Real Estate
bad house in nice area- you can change the house but not the neighborhood.
2007-09-01 10:28:04 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The 3 most important considerations in purchasing real estate:
1. Location
2. Location
3. Location
There's no such thing as a nice home in a bad area. It's pretty easy to repair a bad place in a nice neighborhood but it can take decades of activism to repair a neighborhood. By then, the "nice" place will probably be a dump along with the rest of the 'hood.
2007-09-01 11:31:02 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
buy a bad house in a nice area, you can always make a bad house nicer, remodel, fix it up but very rarely you can change the area. Being the ugliest house in nice area will give you a better value since your house will automatically valued higher just because of the nicer homes all around you
2007-09-01 15:08:03 · answer #3 · answered by Monika Wilson 4 · 0⤊ 0⤋
bad home nice area
think of this way the value of your home in a nice area is much better. once you have made improvements your home will be worth much worse. most flippers will by the worst home in a nice area. if your looking for the most bang for the buck. buy the bad home in nice area and make the home the way you want! the money you put into the home will apy you back bigtime
2007-09-01 10:31:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The latter. Here is why:
Nice home in bad area will eventually become bad home in bad area due to vandals.
Bad home in nice area can become nice home in nice area if you fix up the house. Then you can resell it at a profit, if you want.
2007-09-01 10:39:18 · answer #5 · answered by StephenWeinstein 7 · 0⤊ 0⤋
HEY, i live in canton, a nice suburb of detroit.
my house was torn up due to a divorce. I took 2 years of hard work to get it nice, but now its done, and i live in a great house, for lower cost than i would have paid, had i bought a nicer house.
Since the market turned sour here in detroit in the worse way, since i paid a lower price, i am not going to be hurt AS MUCH if i have to sell.
2007-09-01 10:47:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋
In real estate its all about location location location. Bad home good area. You can always upgrade the home, but the area you have no control over.
2007-09-01 12:40:45 · answer #7 · answered by frankie b 5 · 0⤊ 0⤋
Nice Area always comes first. Bad area should never be considered.
2007-09-01 10:34:58 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Bad house in a nice area.
You can always fix it up, the neighborhood will improve its value, you dont have to be scared to go outside at night, its always best to have the cheapest house on the block, not the most expensive.
2007-09-01 13:29:40 · answer #9 · answered by Mike 6 · 0⤊ 0⤋
the different solutions are ultimate. it particularly is lots greater effective to purchase the worst homestead in a advantageous community than the final homestead in a nasty community. besides the shown fact that, to complicate topics: What are their genuine values. you assert "the two fee a similar quantity." ok. enable's say each expenses $3 hundred,000. yet, in accordance with comps, the single interior the undesirable community is nicely worth $350,000 whilst the single interior the greater effective community is nicely worth $250,000. the 1st you are going to be a good purchase; your pal could be overpaying for the 2nd. So, you may look at fee, not in basic terms cost. All different issues being equivalent, nevertheless, decide for the homestead interior the greater effective community.
2016-11-13 22:44:57 · answer #10 · answered by Anonymous · 0⤊ 0⤋