Would you buy a very large and beautiful house in a very risky neighborhood if the price was a steal?
by 
Winter Rain
ANSWERS: 9
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If the neighborhood was up and coming and recognized for its historic or potential value by others? Then yes... If it was just an ill placed home that was beautiful, then no, I probably wouldn't. But you know what? I moved out of a supposed bad neighborhood from a nice, decent, affordable, beautifully laid out home that was smack dab in the middle of a progressive crime zone to an upper middle class neighborhood and a home that we THOUGHT was nice, but turned out to be an expensive nightmare of a money pit and a week after we moved in, there was a murder suicide a few blocks down, there is a registered sex offender ten houses down from my sons bus stop and there was a shooting in the local mall parking lot. So I have no idea?
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No. What would a beautiful house be worth if everything mildly valuable of yours inside the house gets stolen? I'd rather get a moderate sized house in an ok or good neighborhood or a small but comfortable house in a really good neighborhood.
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Absolutely not! I am often asked to show homes in not-so-nice neighborhoods in the city. Sime are recent construction (2 to 4 years old) that originally sold for $225K to #300K. They are now available as bank-owned properties at $110K to $135K. Most are fairly clean, very attractive 4BD/3BA/2-car designs, 2000 to 2500 FSF in size. The problem is that they are located in "drive-by zones" where drug deals go down in your front yard, homes have been known to explode after being stripped of copper piping, murders have occurred on every block, robberies occur ROUTINELY, etc. Great place to raise your kids, right? WRONG! If you want a good deal, shop for foreclosures in a blue-collar suburb and avoid most inner city areas if you can. Good luck.
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Not if I was raising a family.
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No, never. It's always been about the land for me, no matter what the home or lack of a building was. I have to feel an attachment to the land before I love a home.
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No. I had that opportunity. (Actually, the house was quite ratty but the only reason I didn't buy it was because I didn't like the rest of the street. Turned out to be a good reason too. That street was the crime capital of the state. Years later all the old houses were ripped down and that area transformed, so the question is, are you able to handle living in such a neighbourhood until such time as it is transformed?)
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It would have to depend on how risky this neighborhood is. But if its too risky then no!
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Risky as in crime, or as in property value? If it's crime then no, not a chance in hell. You would be setting yourself and your children (if you have any) up in a community that does not have good values. Those values will affect you weather you like it or not.
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never. i'd rather buy the worst house in the best neighbourhood. there's a REASON it's that cheap...keep that in mind.
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