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Complete remodel of old home in great location or buy new in cookie cutter subdivision?
We are looking at buying a house. Our price range accomadates a good sized new or newer home in our city. Here is our dilemma: We really want live within 1 mile of our downtwon and all consist of old homes. The newer homes are out in subdivisions without trees, cookie cutter houses, must drive to get anywhere, etc. So my question is Do I buy an older house, in the location I want (huge lot with woods in the back), with the square footage I want, at a lower price range and then hire someone to come in and totally remodel (I have a house in mind, woud need new windows, some new floors, new patio, adding a master bath where none exists and a total gut of the kitchen, new trim throughout entire house, semi-finish basement, new patio doors, remodel 2 existing bathrooms, paint entire house). The only other options are to live in a location I am not thrilled about but get a great house or wait until a nice updated older home goes up for sale in the location we want (so far been looking for 2 years and haven’t found anything worth considering and we’ve looked at a bunch). I guess I am not sure the cost of remodeling. I could buy the house for $150,000 or less and can afford to stick in about $50,000-60,000. Here is the house if you want to see pictures:
http://www.coldwellhomes.com/Listing/ListingDetail.aspx?ListingID=15393786&NavigationListingIDs=19686380|19344127|15393786|15815813|13832988|13833015|13832972|13832997|13833042|13832975
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I’m part owner of Home Source Group of REMAX Greater Atlanta Realtors® specializing in Atlanta Homes in Brookhaven, Chamblee, Dunwoody, and Sandy Springs. Whether you are buying or selling your home we work with resale’s, first-time home buyers, companies relocating people to Atlanta, and most home sellers in northern part of the Greater Atlanta area.
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wade@wademorris.net
buy the house where you want to live, to renovate will be hard work but well worth it to get all that you want the way you want it and where you want it, it will take awhile but like I said go for it plus the chance to up the value if you decide to sell at a later date
the three reasons for buying a home is location,location,location
I prefer the older home. They have a charm and class that the new ones don’t have. The propertyy sounds very nice too. And why be like everyone else, just to show off that you’re making it and keeping up with the Jones’?
Older homes can be beautiful if you fix them up right. The key is do do a little at a time and not get overwhelmed. Tonight I am visiting someone that lives in an old New England home from the 1700s. They fixed it up so nice and kept the old charm. It just feels so cozy and welcoming walking in to their house everytime.
The older home. A lot of “newer homes” were built in a hurry, during the housing boom they just wanted to get them built as quickly as possible, so lots of quality problems there. An older, newly renovated home, to me, represents a better value.