Debate

[kdm31091]

I'm debating with this guy and it's driving me nuts. He thinks he can get a nice, large house for $60k or so, and that it'll be a nice, safe, non-ghetto neighborhood.

I keep pounding on his head that he'll need to spend $100k+ for a nice detached house, but he won't listen.

Am I wrong? or is he wrong?

 

[Liberty Belle]

Where do you live? That's key.

Really, though, I can't think of many places you could get a decent house for under $90,000 (and that's really, really pushing it).

 

[BillSears]

Location, Location, Location. The 3 most important things in real estate. Or at least that's the old saying.

Check out www.realtor.com and key in your zip code. That'll give you a good start on pricing for that neighborhood.

 

[Aurora63]

He might be able to get a room down here for $60,000.

 

[terryX]

Need more info...what part of the country. Of course I live in California in the Bay Area...probably one of the most expensive areas to buy a house so anything less than $300 grand here is a Dive!

 

[kdm31091]

He's looking in Ohio, but I still think a decent house is $100k++.

He showed me this:
http://realtor.com/FindHome/HomeListing.asp?snum=3&locallnk=yes&frm=bymap&mnbed=2&mnbath=1.5&mnprice=0&mxprice=70000&js=off&pgnum=1&fid=so&stype=&mnsqft=&mls=xmls&areaid=67565&poe=realtor&ct=Woodsfield&st=OH&sbint=2&sorttype=sbint&presort=sbint&typ=1&x=15&y=8&sid=07D36D85152CC&snumxlid=1065112908&lnksrc=00002

Check the price. I don't think it's gonna be in a non-ghetto. Not for that size.

 

[ilovejack02]

I guess it depends on where you live. Before hurricane Katrina, you might could find one outside of Baton Rouge in the country. It wouldnt be updated and would prob need a little fixups but wouldnt be a total dump also prob on the small side. Now there is no way in heck you can find anything decent or in a safe neighborhood in that price range.

 

[Mono~rail]

Why do you argue. . . or umm, excuse me, debate. . . with him about it if you know he is so wrong? Won't you be proven right when he doesn't find a decent house for $60K?

 

[kdm31091]

I debate cuz it's driving me insane and I really wanna change his mind.

Check out the URL in my last post. You be the judge.

 

[Allison]

Completely depends on the area. In the very rural area I grew up in, you can do that.

 

[kdm31091]

But look at the house at the URL I posted. I don't think it looks like a "nice neighborhood".

 

[SillyMe]

It all depends where you live. There are small towns around here in which you can find a decent twin for $60k...but they're old coal mining towns with no employment. Other towns around here you can't even find a fixer-upper for $60k.

 

[teacherforhi]

Bought my house for $55,000. Safe neighborhood, across the street from the school where I teach.

 

[Mono~rail]

I debate cuz it's driving me insane and I really wanna change his mind.

Check out the URL in my last post. You be the judge.

OK. . .

 

[kdm31091]

Oh there's more. He wants 2000+ square feet for that price.

 

[mom2boys]

I'm debating with this guy and it's driving me nuts. He thinks he can get a nice, large house for $60k or so, and that it'll be a nice, safe, non-ghetto neighborhood.

I keep pounding on his head that he'll need to spend $100k+ for a nice detached house, but he won't listen.

Am I wrong? or is he wrong?

Depends - is he talking about a house in FL? or somewhere else? There are actually towns that are giving away land to put a house on in order to get people to move there. As someone else said, he could buy a house in a remote, rural area of the mid-west for $60,000 and not have to worry about the ghetto.

 

[kdm31091]

He doesn't care about jobs. He's "self employed" (he sells pretty amateur graphics - not to be insulting, mine wouldn't be any better, but I'm not trying to make a life outta them) and I offered him this advice:

"Get a real job, build up money, start your business, eventually quit the real job once you have steady capital"

He won't listen.

I don't think a 2000 sq feet house for <100k is possible. Anywhere.

 

[kdm31091]

He's kinda naive. So am I, being young, but I admit to it. He says "I don't consider it ghetto if the crime stats are low." Riight. I still wouldn't buy a 2000+ sq foot house for $50k just because it's there. It has to be bad news.

 

[lesroi]

He doesn't care about jobs. He's "self employed" (he sells pretty amateur graphics - not to be insulting, mine wouldn't be any better, but I'm not trying to make a life outta them) and I offered him this advice:

"Get a real job, build up money, start your business, eventually quit the real job once you have steady capital"

He won't listen.

Hmmm, I might not listen to advice from a 15 year-old either if I was already making a living being self-employed. It is hard to know from your OP if you are seriously asking a question or just But, I will bite anyway.

If you are talking Ohio, I am sure with a little work and research you can get a decent house for that price. If you are talking California (or anywhere west for that matter) you can't. Like other posters have said, rural areas of the midwest can still offer some serious bargains.

Have you considered that he may WANT to live in a neighborhood that may be on the verge of a rebirth? What YOU consider the "ghetto" may be someone else's eclectic dream neighborhood. Huge house for a small price. Something that you can renovate and make your own. St. Louis has a lot of urban redevelopment happening in areas that you likely would have considered "ghetto." Those houses are now in the $500k+ range since rehabbing. Lucky people that bought in at $60k, huh? Perhaps your friend is just smart enough not to buy to impress folks like you?

Tracy

 

[ilovejack02]

Oh there's more. He wants 2000+ square feet for that price.