Real estate question please help?
I am in the market to buy a house there are two houses that I am interested in .one is one car garage ,26 years old needs $17000 worth of updates in a mature good area ,with less property taxes and good schools, the Second house is 4 years new no updates needed in a brand new subdivision,2 car garage with higher property taxes schools are not bad. which one would you buy and why please help ?
Update:The newer home property taxes is $1500 a year more than the old one.
I estimated the cost of updates to the old house. it is $17000.
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Answers & Comments
Buy the new house with 2 car garage that need no updates. You don't want to deal with contractors, do you? They are headache too. Lot of the time, it can come out a lot more than you anticipate. The older home already need $17000 update ...who knows what needed to fix next? Repair and update are costly. Besides, 2 car garage home is more popular although it is $18,000 more than the older home.
When you say 17k in up dates how do you come up with that #. Often construction runs over budget. In a 26 year home you can expect to discover other issues once you start remolding. After remodeling will you still have a one car garage, that is an issue to many. You could quickly run over budget.
From this little bit of info I would say go with the new one. It will also depend on how much higher the taxes are.
If you have kids or may have kids at any point when you are living there go for the one in the better school district.
pick best location. which location attracts higher priced buyers?