good home.. bad sorroundings? - Property Investment and New Homes For Sale Forum

ebonyeyez · #1 (**permalink**) 17th May 2008, 12:43 AM

i have spotted a nice home but its in a shabby area and the crime rate is high, is it worth the risks? what would you do if you were me? i need some good advice.

Rabscuttle · #2 (**permalink**) 27th May 2008, 07:27 AM

Buy it, fix it up and flip it - or rent it, but I really say flipping it is better.

anthonyrodrigues · #3 (**permalink**) 22nd July 2008, 04:56 PM

Hi,
You just leave that place because god give us one gift(Life) to all of us, If our life is safe than all is safe. So quit that place as soon as possible.

mandiees · #4 (**permalink**) 23rd July 2008, 12:09 AM

A bad neighborhood can seriously affect property value, and I would advise you to stay away from investing in a "shady" neighborhood.

Pandora · #5 (**permalink**) 23rd July 2008, 05:04 AM

Hi!

If the city or town is working to clean up that area, then a purchase of a residence can be a really good investment. If, however, the area is crime ridden and there seems to be no change on the horizon, then I would take the pass on that.

I would not want to live in an area with lots of crime... and would think that it would be a nightmare for a landlord or to be able to re-sell.

alessadry · #6 (**permalink**) 23rd July 2008, 11:35 AM

Location, location, location! I would stay away from bad areas, if you rent you will find bad tenants, if you sell the value will be low unless you keep it for a few years. But are you willing to do so? I would spend a bit more for a better area.

Orrymain · #7 (**permalink**) 24th July 2008, 10:48 PM

Personally, I'd stay away from a high crime area. Crime is on the increase almost everywhere, so to move into a situation where there is already a problem, seems very risky, especially if you have children. There's bound to be another home you love in a better neighborhood.

bubble · #8 (**permalink**) 6th August 2008, 07:35 PM

As a rule you should always buy the worst house on the best street, not the opposite way around. Bad neighbourhoods can seriously affect the value of a property, no matter how much you renovate it.

djschwab · #9 (**permalink**) 14th August 2008, 03:28 PM

Unless you see some signs that the area is trying to change, it is best to avoid it. Check the police presence in the area as well as what kind of commercial business is around. There are some areas that can turn around and become a great investment, but unless you see some type of renewal it is best to stay away from it.