Should I buy a new home in an ok neighborhood or an older home in a good neighborhood?
I am in Gainesville, FL, which is an ever growing town due to the University of Florida. I am newly married and looking to become a first time home owner. My price range is 120K-175K. I really have 3 options:
1. I can get a house kind of in the ghetto (which the city is trying to restore) for 135K and fix it up.
2. I can get a nice house but built in the late 70′s for 170K in a neighborhood that has almost doubled in value in the past four years.
3. Buy a brand new house for 150K, but it is on the outskirts of town.
Anyone with some real estate background have any thoughts? Thanks for your help in advance! 
I read the expanded question and understand your dilemma. However, your personal residence is not a gamble. Dare I say, even an investment? It is a place for security for you and your family.
Let me put it to you this way… If you were to gamble, would you gamble on the 1-9 team betting that they might actually win this time or do you gamble on the 9-1 team because they have proven to consistently win over time?
I hope that makes your answer obvious. This coming from a guy who runs a foreclosure business that never sees the inside of a property until AFTER they buy it. I take a lot of risks in my line of work. I never take more than I have to, it doesn’t make sense (cents, either).
Best of luck.
Gainesville Florida Real Estate
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