How much money can be saved with a big house in bad neighborhoood?
I have very little knowledge about real-estate so please take this in mind but very curious. I am 25 and I still rent through apartments. Anyway I wa starveling from Nashville to Tunica Miss. and as I was crossing the Tenn/Miss Border in memphis I noticed a huge newly built house roughly 27 miles from the casino but the it was located in one of the worst neighborhoods that I have ever seen. I mean across the street from this house was a run down old shack and less than 60 feet down the road on the same side was a Trailer park...
Roughly how much Money can you save if you build a huge house in a terrible neighborhood?
I know the question come with plenty of answers but is this something that alot of people are doing?
The house was 2 stories and sat on about 3 acres of land 26 miles out side of Tunica and for anyone who has ever traveled that arae you know its prett bad.. Ii even seen street walkers about 4 miles down he road from this House.
- Anonymous1 decade agoFavorite Answer
It's possible that those people were able to get the acreage really cheap because of the bad location, however building the house wouldn't be any cheaper -- materials, labor, etc., don't go down because the neighborhood is bad, only property value does.
- Denise WLv 61 decade ago
Depending on the security system and the safety of that "investment" you may wish to reconsider this plan.
You build a house to live in for 10 years or to sell in two for a profit.