Is there any neighborhood, preferably in the COB, suburbs not excluded, where someone could purchase a residence for under $80k in a 'walkable' neighborhood?
Elmwood/Allentown/Hertel would all be great except for the price tag associated.
I'm stuck between renting in what I would consider a 'preferred' neighborhood, and buying somewhere more affordable however less convenient.
Any/all advice would be appreciated.
Thanks in advance.
http://www.realtor.com/realestateand...112542924?mp=1Originally Posted by ryan
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Check out the city of tonawanda. I love it there.
There's currently 29 active single family listings and 10 duplexes priced under $80,000.
Most of all I like bulldozers and dirt
Could you recommend any particular streets? I looked at a couple houses there a year or so ago in the $50k range and they were dumps. I do love the close proximity to the water and the bike path connecting to Buffalo.
I have friends who live on Kohler in the COT. That's a modest neighborhood that's walkable to the river as well as downtown.
I think that $50,000 is probably going to get you a dump unless you buy in a high-crime area. Even in Jamestown, that's a low-end price. You might consider buying a structurally sound house that needs work and having it remodelled/refurbished before you move in. I think there are programs through HUD that you can do that with. Before you do this, though, you need to have someone who knows houses go over all the flaws and give you estimates on the costs of repairs/remodels.
Have you considered purchasing a double? There are nice ones in both North and South Buffalo, and they generally cost less than singles because lots of people don't want to bother with tenants. Most apartments have 6 rooms (LR/DR/KIT/3 BRs), usually with a driveway and a garage. I'm most familiar with the streets off Hertel, but there are some on Amherst Street between Wegmans (west of Elmwood) and Lincoln Parkway as well as on the blocks along/off Elmwood between McKinley HS and Amherst Street.
BTW, I didn't mean to put you off about the Hertel area between Elmwood and Military in my post about Rebecca Park. The neighborhood is safe enough, but I think that Rebecca Park is overpriced for that area, and the neighborhood isn't as good as it was. It's definitely better than the West Side west of Richmond or south of Porter. St Florian Street off of Hertel is still a nice block as are Sunset, Page, and some of the others. Sunnyside and Tuxedo have singles and doubles. East of Elmwood, the neighborhood is better, but you will pay more there
I think the old axiom, "buy the worst house in the best neighborhood" is probably a wise one.
I have considered a double, however my bank requires 20% down for a double whereas they only need 5% down for a single family detached or a townhouse. All things considered, I have about enough in savings for 10% down depending on the final purchase price.
Zanna: Yes I have a preapproval through my bank.
My dilemma is this: I can rush now and hopefully find something before the November 30th deadline and get the $8,000 tax credit, or I can be patient and hope that they extend/increase it for the next year. Also, are the interest rates not at a low right now? If my math is correct, a 1% difference correlates to about $22k over the lifetime of a 30 year $100k mortgage.
Decisions, decisions.
I probably won't need place to live until about May, but I'm just trying to get things set up before I move back.
Are you prequalified or better preapproved? Why waste time?
Get organised. Define your needs and goals. Write it down and set objectives.
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