Hi,
My partner and I are first time home buyers and we have narrowed our serach down to 2 houses. Hoping some experts can help us decide My partner has a 12 y/o daughter who will be living with us:
Home #1 - List Price - $260,000
Pros:
* Ideal location
* Completely renovated
* Large kitchen
* Semi large bedrooms
* Beatiful bathrooms
* Large beautiful backyard
* 3 bedrooms with a loft which can be used as a bedroom
* Older house with a lot of charm
Cons:
* Neighborhood is reasonaly safe but not the best neighborhood in town
* House is about 80 years old - renovated but could have some hidden issues
* Basement has 4 windows with rot. Needs to be inspected but looks like it may have taken on water in the past
House #2 - List Price - $270,000
Pros:
* House is only 13 years old
* Nice finished basement which can be used as a rec room
* Nice back yard (smaller than house 1)
* Lots of storage space
* Located in very friendly and safe family neigborhood. Good location.
Cons:
* House needs some minor reno work, i.e. new flooring in some rooms, paint, basement has carpet which needs cleaning ro removal.
* Bedrooms are decent size but smaller than house 1
* Bathrooms are rather unappealing and need some TLC.
* House is very nice but does not have the "charm" of house 1
We have some $ put away but not a lot so we need to avoid situations where we would have to sink a lot of money into a house. So the main question is, do we take a chance on house 1, the older house with charm that we love but could have a potential major problems in the basement. Or do we go with the "safer" choice of house 2 which we like a lot (but dont love) and only needs a few grand in reno work?
Thoughts? We are torn!
