Did you buy/ have the most expensive house on the block?

[SandiR]

For resale value, it makes sense to buy a lower priced home in a higher priced neighborhood. But, you're the one that has to live there. I have a spacious house that I love in a working class but nice neighborhood. I could move 6 minutes away to a top-tier neighborhood and get a cramped home for the same price.

It's all about priorities.

 

[tvguy]

For resale value, it makes sense to buy a lower priced home in a higher priced neighborhood. But, you're the one that has to live there. I have a spacious house that I love in a working class but nice neighborhood. I could move 6 minutes away to a top-tier neighborhood and get a cramped home for the same price.

It's all about priorities.

Well put. We've been in our home 32 years. Added on 20 years ago, did a top to bottom remodel to make it our retirement home last year that cost more than we paid for the house and the addition, it's still worth more than we have in it. But I plan to die here, so I won't be around to find out what it's worth.

 

[mondragon]

I inherited my grandfathers home which is in a very nice area 2 block from the beach and on a canal which is 5 minutes from the intercostal. It needed to be completely updated but the area has million dollar homes and my grandfather was one of the first owners in the neighborhood. He just never updated it in about 25 years except for paint and carpet. The home my wife and I were in had a lot of equity so we sold the home in a few days and used the money we made off the home to fix up my grandfathers home along with taking out a small loan. We did everything from installing a metal roof to installing all impact windows and doors, gutted the inside of the home and redid the pool. Now we have the one of the nicest homes on the block (according to our nosy neighbor) but now we are the youngest in the bright or with only a few kids living there. Now we are contemplating moving if we can get the right price for the home.

 

[denisem]

Nope, but the previous owner was related to the builder so had flagstone fronting the fascade, so *I* think ours is the prettiest!

 

[Forevermarypoppins]

Living in #3 right now and answer to question is NO! But I don't think it would've stopped me.

BUT, if I were to move again, it wouldn't matter to me knowing I'm staying there forever.

** just a thought. There was a day when a house was purchased and that house was the one and only home a family lived in.
Our #1 was income property, but#2 was the one for me.
Husband insisted on building #3. I've never loved it, nor do I even like it anymore. It's my address.
I dream of rebuying #2 and I'm so happy in those dreams!!! and then I wake up

 

[FINFAN]

nope.

 

[IDoDis]

OP, what are the updates that this home has compared to the other homes in the neighborhood? Did the seller accept your offer?

 

[Gorechick]

OP, what are the updates that this home has compared to the other homes in the neighborhood? Did the seller accept your offer?[/

The home offers a lot compared to what we've looked at in our price range around town. It's a 3 BR ranch with 2 1/2 baths, LR, DR, Kitchen with new appliances, FR with fireplace, replacement windows with new Hunter Douglas blinds in each room, finished basement, stone patio with garden shed (with electricity), good sized lot with professional landscaping, sprinklers, and security system. The interior was updated with fresh paint, new flooring and carpeting. The place is immaculate, move in ready. Our offer was accepted and we have inspection next week.

 

[gwynne]

Congrats!

 

[Nennie]

I've bought the cheapest (smallest) house, and the most expensive (bigger) house in the same neighborhood!

11 years ago, we bought the smallest/cheapest house in our neighborhood, and loved the house, but really really loved the neighborhood that it was in. We loved that it was 4 doors down from our "dream house" and thought that the dream house upped the value of our home. I never, ever, wanted to have the nicest house in the neighborhood b/c I always heard that would affect the resale value, etc.

4 years after we moved in, our neighbors in the "dream house" moved out of the state and and had to sell. We both had salary increases, and the timing was perfect, so we went for it and bought it. Went against everything they tell you about home values, but we loved the house (still do!) so it was worth it to us.

 

[bianca]

28 years ago we bought the crappiest house in the neighborhood. 1450 square feet later, 2 bathrooms, a 10x36' front porch and we're now over the top. We are okay with that. We are now the biggest house with 6 bedrooms and only 2 people living in the house. We plan on staying here until we are carried out. We have no intention of downsizing, as we are still the axis around which the family revolves. I can't see our situation changing and we have absolutely no regrets for over building or upgrading our home ...... It is after all, where we live. It might as well be nice!

 

[IDoDis]

Wonderful new, OP! Congratulations!!!

 

[TwinPrincessMermaids]

Buy when it's low, not when its high! I think 2005 taught everyone that? We currently are sitting in a unit that back then would have cost 400k! (Did not even pay HALF that and its brand new!) Timing is everything. When we didn't like our Seller's market (Perdido Key), we said forget it, and we found a new market that was still mostly a buyer's market (with some slight increase in value over the last two years.) Now, I watch all three Disney Fireworks shows from my balcony every night (unless I'm there.)