REALTORS: What do you think of the pricing and comparison of these two homes?
Saturday, January 23rd, 2010 at
3:36 am
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House #1 if they are in the same neighborhood. Either way you need to have an inspection done if you put in an offer on either one. House #1 may look beautiful,but could have other not visible problems such as electrical issues, a bad foundation, termites…..Also make sure you have a title search and then get OWNER’S title insurance. This covers you should some problem arise in the future. Even if you sell it and all the other owners’ had this insurance, they can come to you in some situations asking you to fix it/clear the title etc. It may be a bargain or the seller/agents may know something about it you don’t and are trying to get rid of it. Have inspections and a survey done, read disclosures carefully, and get insurance to protect yourself down the road.
We need more information. Are these homes in the same neighborhood?
Assuming the homes are in the same area, looks like home 1 is the winner..! If you go into a deal on it, Get full disclosures and act on them before your time expires to be sure there are no hidden problems that would run you a big chunk of money. If home 2 is in a better neighborhood AND the family can afford the time and money to fix it, than it would be a better deal. Remember our Realtor credo: it’s all about "location location location!!"
#1 with all things being equal.
But you don’t talk about square footage, lot, outbuildings, garage, condition of the roofs, HVAC systems, neighborhood, so there are lots of variables here.
From the way you describe them, #1 is your choice. There must be something about #2 that makes you consider it.
But in re-reading, I don’t think you are the decision maker here, just a kid soliticiting opinions, trying to sway your parents into buying the home you like.
House number one seems to be the best bet. If house number two has all of those visible problems, just think about the hidden problems it could have. The difference in the mortgage is very slight and not worth the headache of having a house that you will continue to have to put money into.