Quote:
Originally Posted by Wiotte
I don’t believe in variables when it comes to where I live, only one constant is important to me, appreciation. It was important to me when I was 25 and it hasn’t changed. Stretch, to afford the best house you can afford in the best neighborhood you can find is a recipe for financial success. If I hadn’t followed that rule during my working years I wouldn’t be living here today. Constants don’t change, for good reasons.
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There is another rule that we always followed--Buy low in a high neighborhood. Kind of hard to do in TV because the houses are grouped together by kind. But we bought the basic designer, made the usual improvements, and sold quickly for a boatload more than we paid for it.
It's important not to price yourself out of the market. Two houses in our neighborhood are stretched to the limit with extra space, add-ons and improvements. The asking prices for both were too high for the neighborhood. I think they were trying to recoup the cost of their improvements. It took a very long time for them to sell, and many price reductions.