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Buying a house -location location location..

havingalook

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Thinking out loud and wanting opinions too please.:BigSmile:

We are thinking of buying a small 'cheap' house to use as a rental property and maybe move into ourselves, after a couple of years.

Found the perfect house in town. Its $50,000 (brick house, 3 bed, 2 bath, 2 living, 2 garage and a basement) It's just outside of city limits so chickens etc are allowed (I want a smallhold eventually, so would love to be able to have chickens etc.) There is even a field behind with cows etc in, so could sit outside and see critters rather than houses. So its cheap (repo)and perfect size. Love the house. :ThumbsUp:

But:
The location isn't great. There is a deserted trailer next to it, and some of the neighbours homes aren't ideal (not clean/ tidy, junk-yard type driveways.) Sounds judgemental (which i'm not) but it does look really bad in places, when we drove down the lane.

Its my ideal home but it's in a bad location. I know you are meant to buy the 'worst house in a good neighbourhood and not the best house in a bad neighbourhood'', when you're thinking resale.

Does location, location, location really matter?
 

ckutkuhn7

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To me location does matter. But I don't know your area. If its just junky but its a known drug free area and low crime I don't think it would be a bad investment. Maybe by the time you guys moved into it , all the junk would be picked up?? That's a fart in the wind but just a thought. lol

We just moved and moved into one of the lower end homes, but we've since picked up all the trash, trying to relandscape which is difficult because the yard is a huge hill that goes down to a huge creek bed...lots of trees all around us etc. We've cleaned it up so we arent the worst looking house on the block anymore. The junked up trailer that is across the street finally has someone in it and they are starting to make it look nicer, one more house to go and our block will look rather nice. Goodluck with everyone,,are the places around you abandoned? Maybe thats why they are junked up?
 

Mews2much

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Location does matter.
If the area is full of scum it may not be safe.
We found a nice house before this one but the neighborhood was bad so we did not buy the house.
It is better to be safe then sorry.



 

havingalook

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To me location does matter. But I don't know your area. If its just junky but its a known drug free area and low crime I don't think it would be a bad investment. Maybe by the time you guys moved into it , all the junk would be picked up?? That's a fart in the wind but just a thought. lol

We just moved and moved into one of the lower end homes, but we've since picked up all the trash, trying to relandscape which is difficult because the yard is a huge hill that goes down to a huge creek bed...lots of trees all around us etc. We've cleaned it up so we arent the worst looking house on the block anymore. The junked up trailer that is across the street finally has someone in it and they are starting to make it look nicer, one more house to go and our block will look rather nice. Goodluck with everyone,,are the places around you abandoned? Maybe thats why they are junked up?
There's a trailer next door and its definitely empty/ abandoned. The grass is waist high and the doors have been wide open both times we've drove by. My husband says it can be reported to the city for something (can't remember the word he used) and if they deem it dangerous etc, the land owner would have to fix it up/ take it away.

I don't think the others are abandoned, but its a little more rural so some driveways have several cars in, in different states of repair/ decay.

Small town, drugs aren't a huge issue here, crime is minimal, its one of those 'leave your door unlocked' type places.
 

ckutkuhn7

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There's a trailer next door and its definitely empty/ abandoned. The grass is waist high and the doors have been wide open both times we've drove by. My husband says it can be reported to the city for something (can't remember the word he used) and if they deem it dangerous etc, the land owner would have to fix it up/ take it away.

I don't think the others are abandoned, but its a little more rural so some driveways have several cars in, in different states of repair/ decay.

Small town, drugs aren't a huge issue here, crime is minimal, its one of those 'leave your door unlocked' type places.
My thought process was maybe since they are abandoned thats why its sort of slummy and once they get someone in them they will be cleaned up. As for the cars in various stages of life...I'm sort of used to that,,,i grew up in the back woods of NC and even my dad has...............(had to count) 3 or 4 vehicles in various stages. lol He keeps them in his garage or covered up and what not tho. Its expected of a machinist tho.

If the trailer is wide open I'd defintley report it if you tend to buy it, I would have to agree tho, if the land is upkept and the cars are eye sores along with the trailer it does drop the value,,could give you something to negotiate on tho! lol Couldn't it? I don't claim to know it all,,I would point that out to the real estate co tho and see if I could haggle,,thats just me.
 

havingalook

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I don't claim to know it all,,I would point that out to the real estate co tho and see if I could haggle,,thats just me.
It's a repo, so is tens of thousands cheaper than book price. :ThumbsUp:

Hope to rent it out for a couple of years anyway (rentals are desperately needed round here) before we either move in, or continue to rent it out.

Worse case scenario is in a couple of years we sell it for zero profit, best case scenario is that we move in and I get to keep chickens.:ThumbsUp:
 

ckutkuhn7

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It's a repo, so is tens of thousands cheaper than book price. :ThumbsUp:

Hope to rent it out for a couple of years anyway (rentals are desperately needed round here) before we either move in, or continue to rent it out.

Worse case scenario is in a couple of years we sell it for zero profit, best case scenario is that we move in and I get to keep chickens.:ThumbsUp:
Do what makes you happy. You only get to live this life once!!:ThumbsUp:
 

susi794

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I held a real estate broker's license for years...and yes, location does matter, but so does a great house for a great deal. A brick house with all you mentioned for $50,000 is a great deal! This economy has produced a definite buyer's market--anything you purchase now has to be considered a long term investment though--because it is definitely not a sellers' market at the moment. It seems to me that the owners of the abandoned trailer could be compelled to get rid of it if there are any kind of township ordinances. And as for the cars in various states of disrepair, well, you might have to get used to that. If this property otherwise suits your needs, especially if you intend to use it as a rental unit until you want to move into it yourselves, sounds like a darn good buy.
 

MissMySphynxBoys

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Do what makes you happy. You only get to live this life once!!:ThumbsUp:
You do only live once. Follow your gut. Maybe you are destined to own chickens!


I'm going to tell hubby that my internet friend gave us the go ahead. How can he argue with that :LOL:
:LOL::LOL::LOL:

I'm glad your hubby doesn't mind you consulting with your internet friends over important life decisions! What a great guy.
 

holly_savage

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I have to agree...the location / neighborhood esthetics will affect you resale capabilities. But on the other hand neighborhoods can change quickly...maybe lots of people will sell or there might be a few more repos in the area (not that I wush that upon anyone) and then all the houses are occupied by neat and tidy people! Or it's a nice neighborhood one year and then it is all "undesireables" that end up moving in. You just never know how things will change!
 

havingalook

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Lots of things to think about. Would be nice to actually get our foot on the ladder.

I'm glad your hubby doesn't mind you consulting with your internet friends over important life decisions! What a great guy.
:LOL:
We were talking about it this morning, and I started the sentence with "Well my internet friends think..." :LOL:
 

Nair Bare

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Have you checked your local city ordinances on raising chickens within city limits? Many large cities do allow the homeowner to maintain a small flock, if proper cleanliness and hygiene are followed. This is one of those little laws that cities do not publicly promote and most people just assume chickens are not allowed within city limits.
And those cities who may have banned chickens in the past, are now changing those laws. Here in Spokane, a larger dense city, you can keep a small flock of chickens in the city for your personal use. So perhaps if you do not get your country house, you may still have your country chickens. This information should be available on the internet. If you call your city government agency, lots of employees may instantly quote you a firm NO for city chickens, thinking they are correct but really are uninformed. A little computer research may free this "cooped-up" information and that's no yolk!
 

Candys

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I think it sounds great for a rental. And the taxes are probably low because of surrounding property values. I suggest that you not put too much money into it. Maybe that area will build up to something nice in the next 5 years. :Cool:
 

havingalook

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Have you checked your local city ordinances on raising chickens within city limits?

Yes I have checked, sadly they are definitely not allowed within city limits. No 'livestock' at all, which is a shame because one of the sweetest 'pets' I've ever had, were ducks that thought they were dogs. They came when called etc.:BigSmile:


Still looking at other options. Would love several acres in the country, will have to start playing the lottery.:LOL:
 

ElGatoLoco

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OK, I have the perfect idea. Let me live in it rent free. I'll do some landscaping and knock some sense into the neighbors. I'll even put in a enclosed stall for the cows so the kitties can suckle on the teet for free milk. Of course the chicken coupe will have to go opposite the cow stall so we don't have any accidents. I'll also have to put in a garden for myself.
 

havingalook

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OK, I have the perfect idea. Let me live in it rent free. I'll do some landscaping and knock some sense into the neighbors. I'll even put in a enclosed stall for the cows so the kitties can suckle on the teet for free milk. Of course the chicken coupe will have to go opposite the cow stall so we don't have any accidents. I'll also have to put in a garden for myself.
:LOL: and for all the hard work you can have one of the kitties? :ThumbsUp:
 

Gadzukz

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Ask local law enforcement about the area. If they know the street by name right away, usually a bad sign, lol. They can tell you if they have a lot of calls in the area, and if they are domestics, or burglery or whatever.
 
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