the one from yesterday is much much closer to the st. johns shops. that's a great plus. also, it's on a very quiet street. pro number two. it's almost brand new, built in 2003. pro: it has a laundry room. con: it has a horrible view of the apartments in back of it. pro: if you look above the apartments, you can see forest park across the river; the largest city park in the united states (probably the world). con: it's the biggest house in the neighborhood. it's a brand new house in a neighborhood of tiny, old bungalows. one of the basic rules in real estate is never buy the biggest house in the neighborhood. it has to do with the laws of appreciation. con: no basement. pro: cheaper than the other house. con: too many bedrooms for the square footage. pro: all the bedrooms have vaulted ceilings and even the smallest one would fit my bed. pro: 2 and a half baths vs. the other house's one bath. con: no formal dining room vs. the other house's formal dining room.
ugh. i could go on an on like that, but i'll stop here for your sake. right now, even though it has less soul, i think we'll bid on the new house. it's a really tough call for me, but that's probably what's going to happen.
vs.
8 comments:
both homes look lovely! I am sure you will be happy with either choice.
my vote is for the older house.
the first reminds me of this or this or this or this or this.
My fav quote in all that linkage:
A total lack of skill meets a total rejection of history. The result: all the charm of a packing crate and none of the structural integrity. Here's a chilling thought: is the interior as well-organized and charming as the exterior? One imagines a dark warren of off-gassing carpets, empty pizza boxes, and a cat box that hasn't been changed in a month and a half.
Location location location?
I think anyone is crazy to buy a house right now. Buy high, sell...? How does that phrase go again?
I need a place to live. Apartment living doesn't do it for me.
As to which house: Nicer neighborhood + quieter street= easy call.
Biff when you are a colombian drug lord like me price is not a factor!
they're both lovely!
christina
biff is definitely right about the design of house number one. it's everything i hate about modern construction. and those links are awesome. i think that site deserves a bookmark. nevertheless, we will almost definitely go with house number one, pending calls to the local police precinct and the loan officer.
as for the state of the market, everyone knows how i feel about that. i may be shooting myself in the foot here, but i don't believe in a bubble. i do believe in caution. but in the meantime between now and the time this possible bubble bursts (more likely slows the market down), i'm losing money by not investing. as long as i keep my investments down to a manageable level, almost no amount of bubble carnage will be detrimental to me. in fact, when you look at it from a landlord's perspective (which is definitely what i am), a bubble bursting can only be good for me, because suddenly, all those losers who overextended themselves financially will need to rent my properties.
It all comes down to what you deem more important. Personally, I still can't handle city living, so any house where I can touch my neighbor's house with a broomstick is unacceptable.
The other problem is manufactured homes. Judging by the size, the newer one isn't likely to be one. Steph in particular is adamantly against any sort of pre-fab construction.
Just go with whichever has the longer list of desirables. All your friends will care about is that you don't have a security/damage deposit to lose anymore anyway.
i dunno christina, ending up with negitive equity is something i'd be scared of.
i seriously doubt that houses are worth what they're charing these days. it's completely insane. the fact that lou is even considering spending 400k+ on a suburban (i assume lou - correct me if i'm wrong) house is absurd. even if i was a slovakian drug lord, i wouldn't invest right now.
they do rent houses you know.
nothing can go up forever. we (americans) tend to think that things get better and better no matter what. shit like this follow cycles.
let's take austin as an example:
GIANT boom in the early 80's, tits-up bust in the late 80's.
tech boom in the mid/late 90's,
bust soon after the dot-com fuckfest.
landlords don't give a shit about this and actually favor it. they're old money. they buy everything they can up in a bust because that's the smart thing to do. they know that buying high is for suckers.
Post a Comment