Your best & brightest future might be... somebody else's dream home from 1970. You could be money ahead, big-time. Now the house featured here is not for sale right now, but this could be an ideal example of your best financial future and enjoyable environment.
Where are these homes now?
The older homes in Washington Township, Lawrence Township and southern Carmel are some of our region’s greatest community resources. In the future, the Indianapolis regional consumers will become more aware of the overall cost of home ownership. They will recognize the opportunity cost and make decisions considering their other lifetime financial responsibilities. Families will acquire a classic Indianapolis area home for something in the range of $135,000 to $250,000; then make improvements that go from minimal dollars for cleaning and painting through a more substantial investment that includes opening up walls and updating kitchens or baths. The net effect is that the owners will have a home which feels like something that is much, much more expensive in the suburbs, but their combined cost for acquisition, improvements, principal, interest, and taxes should be less. A prudent opportunity cost as the regional consumer becomes a more fiscally conscious individual, more aware of eventual education and retirement expenses.
This sure makes a lot of sense to me. Getting some of our future money to go to education and retirement instead of a brand new home is probably like buying a good used car - that's still really nice, but the depreciation has made the price more affordable.
ReplyDeleteGreat idea. Thanks for the info
ReplyDeletegreat post Brad...your blog is impressive!
ReplyDeleteThese homes usually have larger lots and mature trees. Also, if a house is needing to be upgraded it can be done when a person is able to upgrade it. There are plenty of people who are needing this type of work which would help out too. Thanks, makes sense to me too....!
ReplyDeleteGreat post Brad!
ReplyDelete