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House vs area

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  • #16
    This is the main reason why I want to buy my own home!
    So as I can decide where I live and not the local council putting you in the areas where no one else wants to be and for very good reason!

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    • #17
      It's a good idea to find out if there are going to be any major developments...supermarkets being built close by and such. That can change house prices a lot.

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      • #18
        I've gambled before on up and coming areas, and have been pretty lucky, but it takes alot of research and finally just hitching up your pants and betting. Can be fun if you don't mind waiting it out at times.

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        • #19
          Talking to people who live in the area helped me a lot.

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          • #20
            Up and coming every time. Do your research, find a regeneration area. The area we bougnt in hasnt even began regen yet and out flat value is up 167% in under 4 years. We got told we were crazy to buy it by people now eating their words.

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            • #21
              I agree. If you buy a house that you love, but the area isn't changing or growing, it's likely you'll end up being stuck with it not reselling well, if at all, in the future.

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              • #22
                Location location location!

                It's not a mantra of the estate agency business for nothing, you know.

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                • #23
                  Figures show that most first time buyers do not spend the rest of their lives in the first home they buy. Infact the average is about 4 years until they move on. Keeping this in mind the old adage location, location, location is worth your careful consideration because you may well sell in a few years time and buyers will take area as their first preference when starting to look. If the house you find needs repair then you can probably make money when you come to sell.

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                  • #24
                    I agree, for my money location is paramount, and beware of areas described as 'up and coming' when the market is bouyant. This is often based on little more than wishful thinking and these areas will usually be the first to see collapsing prices when the market turns - as it's bound to do.

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                    • #25
                      Adding to previous post, a newish and almost free web based service I've found useful in avoiding high crime and otherwide dodgy areas is Local Tauk (I don't want to spam by including the actual link but Google should find it).

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                      • #26
                        If you are prepared to do some work, if possible, buy the worst house in the best street

                        or become a co-buyer and get the best of both worlds

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                        • #27
                          I agree with Vicki2. If you can spot an area that's 'up and coming' you could be on to a winner from an investment point of view. Find out from local councils what plans they have for an area and look out for new shops/services opening. These are all things that will help your property increase in value - and of course make the area a nicer place for your family to live in.

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                          • #28
                            In modern world it is hard to combine good area with good house, especially if you want to live in the city.

                            We have here a construction boom and everywhere is new building and new houses, there became less free space for nice areas.
                            http://www.bestmortgage-refinancing.us/

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