It's decision time and we cannot come to a common ground on what to do. one thing that we agree on is to buy something with equity. we are reaching out to you guys for advice. It's gonna be a starter home. Our plan is to live in the house for 5 to 7 years max and resale it. We have 2 houses that we like. by the way, we only have a 7m old child.
The first one is in a Levittown 223k, 0.16 acre ( Pennsbury school district) good school district. no major work needed, but we still have to spend money on a few things. our major concern is that it is the most expensive house in the block. vinyl floor. doesn't look durable but it's new.
the second one is in the Bensalem 270k, 0.18 acre( Bensalem school district) it needs a little work like new hardwood floor, new appliances, and the master bath need a little work plus it's small but functional.
taxes are reasonable on both.
which one sounds like a better investment base on the description above? how low should we go with the offer?
Buy the worst house on the block, not the nicest. You can fix the house. You can’t fix the neighborhood. Congrats on baby and new house!
I agree with Lauren - buy the one that needs work. It should be priced due to work needed. Granted what you deem needs work may not warrant a deeper discount. Also if you had more time you should consider a 2 unit since you are only going to be living there 5 to 7 years the baby will still be young and not in school. Now you have someone helping with the mortgage payments
thank you guys for comments. There's no duplex in those area with separate kitchen and bathroom
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