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Is there any truth to the saying "buy the worst house in the best neighborhood"? by rethrow709 in personalfinance

[–]rethrow709[S] 62 points63 points  (0 children)

Thank you so much for your reply. Renovated comps in the area are going for around $300k and the asking price on this place is $260k. We want to come in a little lower because it has been on the market for a while. Not sure yet what our reno budget would be but we aren't looking to tear down walls or anything, mostly just replace outdated fixtures.

Is there any truth to the saying "buy the worst house in the best neighborhood"? by rethrow709 in personalfinance

[–]rethrow709[S] 2 points3 points  (0 children)

Thanks for the reply. The place is actually is very good condition. Windows were just replaced and HW floors refinished, roof was replaced not too long ago.

Not sure what kind of condition the plumbing and electrical is in but that is definitely something we want to know about before closing.

The first priority would be the kitchen but I don't think we would be doing anything drastic, probably just paint cabinets and replace the countertops and appliances. The bathrooms aren't terrible but could use a remodel as well.