I found one house that is older in a very nice area and another one which is much better and newer in ok area. I can not pick which one is better to buy for investment purposes. Which house will appreciate more? Better area or better and newer house?
2007-09-27 04:20:19 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
Investment ?
if you planning to buy and sell after few years ( 4 or5 years )
i advise not to buy at all ,since you have to pay a lots of money buying and even more when you sell, you have to consider about 20 to 30 item you have to pay for (title insurance,escrow ,doc. preparation ,record charge ,termite ,interest on new loan ,inspection fee ,home warranty ,fire insurance ..etc ) that is only to buy and more to sell ( real state commission ,doc . preparation ,doc Tran . fee ,city trans . fee ,termite , home warranty ,,record charge , any delinquent tax ,notary escrow (1/2 ),title insurance ,..and so )
that is not yet
if you have house mortgage (500,000 $ ) for example your monthly will be about 3000 $ / m comparing to rent ( ?? )
also there is 50 / 50 chance that either house price will go down or freeze for next few years and 50 % will go up .
the most important think ,if you do,t know how to do it your self ,it will cost you alot of money to fixed and repair an old house ,labor is very expensive ,if you know how to do it your self you have to consider the time in your calculation.
now the final decision is your ,check with your real state about all the costs when buying and selling ,add it to your morgage ( considering the rent ) pluss cost of maintenance and repaire...don,t rush your self it is not an easy decision .
2007-09-27 05:30:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Location, location, location. Always go with the best location. You can always improve the older house to make it more attractive, but no matter what you do to a house in a less desireable location, it will not appreciate that much.
2007-09-27 11:29:25 · answer #2 · answered by notyou311 7 · 0⤊ 0⤋
Right now is not a good time to buy a house as an investment.
2007-09-27 16:22:52 · answer #3 · answered by Anonymous · 1⤊ 1⤋
the older house its may be built better also
2007-09-27 11:24:42 · answer #4 · answered by Anonymous · 1⤊ 0⤋