Help me choose a house

[trailblazer87]

I am in the market to buy a house. Now that the prices and interest rates have come back into alignment I can try this whole home ownership thing and hopefully end up moving in a few months.

Option #1: Has hideous green carpet that will be removed immediately. It is smaller and in town, about 2 blocks from my job.Fresno Real Estate - London Properties Fresno California Real Estate

Option #2: Is not much to look at on the outside but is spectacular on the inside. The current owners are taking a huge hit in the sale. It is on 2 acres and about 15 minutes from work.
Fresno Real Estate - London Properties Fresno California Real Estate

Option #3: Is brand new and they will start building the moment I sign the papers. It is also the most expensive but will have the amenities I want in a home. It is located on the edge of town and is about 10 minutes from work.
KB Home - Madera, CA - Plan 5 M

 

[nimzotech]

I would advise you choose option # 4 (not listed above); wait till the market hits the rock bottom first. Then consider buying at the lowest price. 2009-2010? :Flash:

 

[reiobard]

before voting i want to know how long you plan on staying at said house? are you planning on doing some work on the house while living in it and selling in a couple years?

 

[trailblazer87]

Yeah but this option seems to not be the way things are going locally.

Things around here look like they will bottom out around mid summer. Plus the interest rates won't drop too much more so it seems like a good time to start the process.

 

[trailblazer87]

before voting i want to know how long you plan on staying at said house? are you planning on doing some work on the house while living in it and selling in a couple years?

I plan on staying for at least 10 years.

 

[reiobard]

I plan on staying for at least 10 years.

if you are planning on staying for that long then get everything you want, go with house #3. those look awesome.

 

[craig007]

#1 is too close to work
#2...what no garage. I know its CA but need to keep your bike inside if you can
#3 If you are planning to be there for 10 years, then get what you want

 

[YoungAndDumb]

It's between #1 and #3. The price of #2 is close enough to #3 and #3 has all the bells and whistles.

What I would like to know before voting (and I have no idea how anyone can vote in good conscience without knowing this) is what the debt-to-income ratio will be? In other words, how much income are you and any other owner(s) bringing in?

Ten years is long enough that it might be OK to "stretch" yourself a little right now because you will (most likely) make more money each year after this one and comfortably grow into the payments, but most people buy a little too much house than they really should. Keep that in mind when choosing! :thumbup:

 

[HavBlue]

I would be looking at #3 but I would like to know more about the comps in the area and what they are being listed for. I would also like to see the latest 20 year plan for that area which could either help to increase or decrease that value of that property.

 

[greenthumb]

think about it
theyre all about the same price.
but one is brand new, and likely with a warranty. the others are going to need some sort of work in the near future, so that must be factored in the cost.
its also the largest, and you have a say in the way it looks.
as long as you like the lot/neighborhood, its a no brainer to me.

 

[trailblazer87]

It's between #1 and #3. The price of #2 is close enough to #3 and #3 has all the bells and whistles.

What I would like to know before voting (and I have no idea how anyone can vote in good conscience without knowing this) is what the debt-to-income ratio will be? In other words, how much income are you and any other owner(s) bringing in?

Ten years is long enough that it might be OK to "stretch" yourself a little right now because you will (most likely) make more money each year after this one and comfortably grow into the payments, but most people buy a little too much house than they really should. Keep that in mind when choosing! :thumbup:

If I go with option #3 my payments will be about 50% of my current take home pay. I will get a raise come summer

Option #1 will be less than athird of take home pay and is in an established neighborhood.

I am single and doing this on my own. Though that may change in the semi near future.

 

[FZ1inNH]

Go with the one you can make your own. #3 is the best choice. #2 just doesn't offer enough and if it were me, I would have always wanted more. #3 can be made into exactly what you want now with no changes needed. Plus you don't want to be that close to work at all...

 

[trailblazer87]

I would be looking at #3 but I would like to know more about the comps in the area and what they are being listed for. I would also like to see the latest 20 year plan for that area which could either help to increase or decrease that value of that property.

Comparable homes in the area are in a state of flux rght now. The neighboring developer tanked and has his models up for auction. The city limits were moved out in this direction 2-3 years ago. There was a large shopping center planned about a mile away, but due to recent market changes this land is now just sitting. A new elem school was just built nearby. The 20 year plan calls for the city to continue its progression to the South East (where this development is) and to the North West. Included in this in the next few years is a possible Costco as an anchor store with the usual surrounding businesses. In the next couple of years there is also further infrastructure inmprovemnets planned as well in the form of streets and lighting.

 

[bd43]

Just remember the 3 L's, location, location, location. It doesn't matter how good or bad the house is, but if it's in the middle of East L.A., ehhhh. Avoid a neigborhood with a lot of rental housing. If you have kids, make sure it doesn't front onto the freeway. And finally, what do you hearing and see waking up in the morning. Train passing by as it shakes the house while looking at a steel mill out the bedroom window with high tension power lines looming overhead. NOT! Good luck on your choice though.

 

[jsteinb95]

If you don't buy the house with the most votes, then this was a waste of time. j/k

wow....we really are a family here, helping you decide on which house to buy.

 

[pedwards89]

In the UK it would be a no-brainer No: 2. Set in 2 acres, they'd build 20 houses on that over here. Is it suitable for development?

 

[Nelly]

In the UK it would be a no-brainer No: 2. Set in 2 acres, they'd build 20 houses on that over here. Is it suitable for development?

No 2 for me to, you gota love the countryside. External bits n pieces can be carried out over time. It looks great on the inside.
Whens the house warming?

Nelly

 

[reiobard]

If you don't buy the house with the most votes, then this was a waste of time. j/k

wow....we really are a family here, helping you decide on which house to buy.

you all might be kelping Keira and I with this same question soon!

 

[Cloggy]

I think it depends on how much you have to spend on the first two to make it the way you like, as you are probably going to alter it to fit your wishes.
I would probably go with the house with a big garden/paddock but I don't think that you could develop it the way pedwards was talking about, as land prices in the states are sooo much lower than in Europe.

I must admit it makes me kinda jealous to see the kind of houses you can buy in the states for the same money it cost me to buy a large terraced house.

Anyway good luck with the house buying trailblazer, pick the best one for your and your families needs.

 

[madmanmaigret]

If you can afford all of them, get what you want, especially over ten years, it will keep you happiest! and no garage for #2? come on!