Buying big house vs a small house

[NutBucket]

I assure you that smaller houses do not always equal poor/low-class neighborhoods...particularly in large cities where we'll taken care of, old neighborhoods are in high demand.

Exactly. We've been looking for over a year and the area we're looking at has houses that average maybe 1500 sg ft with lot size between 6000 and 9000 sg ft. Price is anywhere from $700k to $1 mil. Welcome to SoCal!

 

[vi edit]

Correct.

In some markets, you need a bigger house to be in a nicer neighborhood.
In other markets, location is the cost driver, so small houses are still expensive.

You are in Columbus so you might understand the university affect on housing. I'm down in Lexington and my wife works on the medical campus. We were looking at housing here and there is a beautiful neighborhood within walking distance of campus made up entirely of 1940's bungalos and cape cod style houses. 2-3 BR, 1200 or so sq/ft places. They go for $400,000+. Take the same house and move it half a mile further(essentially out of walking distance) and they are $150,000. The difference in neighborhood quality is also night and day in upkeep and appearances.

When we lived in Omaha, there was an amazing area right next to the med center that was very similar. Except the houses there were Tudor style. But they were small and older and half a million in price.

 

[skyking]

What is wrong with just clearing it if you are going to take all the good stuff anyway? Why spend money, time, and effort trying to maintain scrub? Personally I would rather have a cleared and properly graded acreage, and I think while many people are "sensitive" about the issues of removing trees, once they see the finished product, they will agree it is the right move. People get way too uppity about taking trees down. Of course, this would be in keeping with the idea that the acreage is for livestock of some kind, whether domestic or wild. No way I am mowing 10+ acres of pasture/lawn with any regularity myself, once a year at most unless I am making hay.

Not uppity at all. If you have a use for the cleared land go for it.
My background is I grew up farming and now run heavy equipment.
Clearing and making property useful costs money. Well spent if you have a purpose.
If you don't have a purpose ( like the cattle you mention), that stripped dirt will need to be planted and maintained or the invasive species will move on in. Been there done that on several different scales.
So I like thinned trees and native growth because basically I am lazy 🙂

 

[dave_the_nerd]

Buying a bigger house than you need is just giving yourself more to clean and maintain. Unless expanding your family is in the future, I don't see the point.

That said, you also need a house that fits your needs. Workshop? Extra "bedrooms" for a home office? Extra space because your cats run around a lot? Going too small is probably worse than going too big, unless you're on a big lot w/ room to add on.

Semi-related, I'd probably prefer a house from the '50s or '60s, even though houses back then tend to be smaller. I've seen too many new developments with poorly designed houses that developed mold problems, cracked foundations, etc., after only a few years. Whereas if a house has been standing for 50 years, chances are pretty darn good that with proper maintenance and care, it'll be standing for ANOTHER 50. But I also have a garage full of tools and am not afraid of making some sawdust. (I don't think OP is either. Just saying.)

 

[Eug]

Buying a bigger house than you need is just giving yourself more to clean and maintain. Unless expanding your family is in the future, I don't see the point.

That said, you also need a house that fits your needs. Workshop? Extra "bedrooms" for a home office? Extra space because your cats run around a lot? Going too small is probably worse than going too big, unless you're on a big lot w/ room to add on.

Semi-related, I'd probably prefer a house from the '50s or '60s, even though houses back then tend to be smaller. I've seen too many new developments with poorly designed houses that developed mold problems, cracked foundations, etc., after only a few years. Whereas if a house has been standing for 50 years, chances are pretty darn good that with proper maintenance and care, it'll be standing for ANOTHER 50. But I also have a garage full of tools and am not afraid of making some sawdust. (I don't think OP is either. Just saying.)

Our house was built in two parts. One in the 50s (60 years ago) and then updated in the late 90s. The addition was built in the 2000s (15 years ago). We have had way, way more problems in the part that was built in the 50s. Most of those problems can be directly attributed to the building practices of the 50s.

 

[bruceb]

We just moved to Apex, NC from Wayne, NJ ... we had a BiLevel 2,000 sq ft which was expanded by an addition off the back adding another 1,200 sq ft ... It sold for $430K but the 2 full baths and kitchen were not updated. We did however, put in new stoop rails, had the chimmney bricks redone (mortar was failing after 33 years), repaved the driveway, did a bit of landscape cleanup and fixed any holes in the plasterboard. Then the entire interior got a paint of a neutral color. Taxes were over $16,500 .. Now here in NC we have a 5,200 sq ft house for $870K with the taxes now at $8,670 .. so about half the tax for double the house.

 

[piasabird]

A large house just means more to clean. I have lived in a Brick ranch small 3BR/1BA house for about 17 years or so. In fact I have started a de-clutter campaign. The place has a basement, but sometimes after a rain, the water leaks a bit. So now I am starting to throw out a bunch of old junk that I do not need. After 15 years of building computers and going back to college, it is time to clean out the junk.

I have a small 1 car garage attached and I use that in the winter. Not cleaning frost and snow off my car is worth it.

I live in the mid-west and the house was purchased originally for $75k. In fact at 58, I have about had it with raking leaves and cutting grass and trimming the hedges. I might give it all up for an apartment or a condo if I don't have to take care of a yard. I finally got the monthly payments down low so I have no need or inclination to move. Moving is a real hassle.

I think my taxes are about $3500 or so here in southern Illinois. That is all paid out of my escrow account. When I moved in I had a monthly house bill of about $1100, and now I have a monthly house bill of about $663 (including taxes). I refinanced under HARP loan provisions.

 

[Jumpem]

At some points kids have to become adults.

And some times society isn't there with good jobs. If my kids are having a rough time getting started they will be welcome to stay.

 

[Leyawiin]

Bought a small subdivision home in 2010 that was built in 1979. My first home. Not the best area of town by any stretch, but its reasonably safe. It was cheap enough I could pay cash for it. In retrospect I wish I'd put the 125K down on a nicer home outside of town on a small acreage. My mortgage would have still been reasonable and I wouldn't have neighbors jammed right up against me on two sides. Its not so bad until one of them moves their worthless adult children in with them complete with barking dogs.