Friday, November 10, 2006

I need real estate advice!

I need advice.

We are looking to move. Currently, we live in a nice little house in the wrong location. We live in a rural subdivision called Redneck Boondocks (my fault) and are realising that it is just TOO FAR to ammenities. Twenty minute drive to get milk, the library, the gym, yoga classes, night classes, etc. Everything involves driving, driving, driving...

We want to move to the city.

Here's the question: do we buy a NEW house in the 'burbs or a crumbly older home in a cool, walkable area?

Our city is still fairly affordable. We are still on the cusp of being able to afford a small home in the "trendy" neighbourhoods. You know the ones; where you can walk to fair-trade coffee and boutiques and where the houses are old and "quaint" and the taxes are through the roof but you get faster appreciation.

Or we could sign on a newer, cookie-cutter suburban house which looks exaclty like the one beside it but in which everything is NEW and blissfully operational. Three bedrooms, three bathrooms, no orange shag carpet, etc. (husband works around the corner)

So the conundrum is: do you buy an older home in a walkable, vibrant neighbourhood or a brand new home in the suburbs? What's your advice? Are the suburbs evil? What about the gentrification of the inner-city?

6 Comments:

At 9:20 AM, Blogger msdramateacherlady said...

Go for the older house! Go for the older house!

I hate new homes, they have no style. They are built right on top of each other (at least they are here).

So like I said, go for the old.

 
At 2:51 PM, Anonymous Anonymous said...

"an older home in a walkable, vibrant neighbourhood"

a veritable quandry this is NOT!

go for the character ;)

 
At 6:45 PM, Blogger Julia said...

That's two votes for the older, crumbly homes. Hmmm. Interesting.

I am just so deathly afraid of maintenance. We kind of got stuck with a money pit first house and feel a bit burnt by the whole "used" house experience.

However, I find the votes for the older homes very, very interesting...

 
At 10:11 PM, Anonymous Anonymous said...

we live in a new construction home - and we spent the first 18 months negotiating with the builder to "fix" things . . . and all houses have maintenance at some point . . .

think of everything that you have learned from your "money pit" first house - you know a lot more walking in to look around this time -

and you got me with walkable, vibrant neighbourhood!

 
At 8:22 PM, Blogger suburban mom said...

Old home! Old home!

 
At 3:19 PM, Anonymous Anonymous said...

I know why you're confused. Really, I do. I'm afraid of maintenance too. But, like someone else pointed out, you're going to have to pay for maintenance at some point. And the appreciation value is definitely worth considering. Besides, you have no kids. What do you have to do besides tear out bathrooms and replace stuff all the time! :)

 

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