Sub-$400,000 houses

[TheGrandViking]

When I look at houses, I more focus on the "bones" of the house rather than the superficial things that can easily and inexpensively be fixed. The following are what i consider the "Bones" of the house:

Foundation- If your foundation is poor, you will have problems from water, bowing, cracks in the drywall, etc.

Supports of the house- Floor joists, subflooring, and part of the foundation. Does the wood look solid and is it spaced correctly without cracks. Some of the older house have better quality wood than the newer homes

Water damage- Does the outside good drainage and does the inside flooring in the basement crack free because that could be a sign of hydrostatic pressure issues. Any stains on the drywall or mildew around corners.

Roof- does the roof have any obvious issues and how old is it. Replacing a roof makes replacing trim seam trivial unless you are using some exotic and rare wood.

Floor plan. The floor plan is limited by the footprint of the house. Does it fit my needs so I don't have to change it because that type of renovation that has to move pipes and electrical wire is expensive.

Electrical- is it up to code and can meet modern usage?

Plumbing- check to see how new the pipes look and bring a magnet with you. Cast iron pipes will attract a magnet where lead pipes will not.

Corners - check to see if there are gaps in corners of windows, drywall, or any joinery because that can be a sign of bigger issues (probably with your foundation).

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I am always thankful for the majority of people looking for houses who focus on superficial things like cleanliness of the house, paint, couches and style choices, and trim It is why the real estate pros know low investment fixes like paint, landscaping, and conservative style for showing a house pays huge dividends.

When I sell my housing properties, I focused on the superficial. When I buy housing properties, I focused on the "bones".

[paiste13]

Originally Posted by pannierpacker

The problem though is that sometimes you can't fix ugly without a bulldozer. Ugly doesn't resell. Maybe the neighborhood you picked was safe but if 1 entire wall of that home is covered with garage doors, you can't fix that with paint.

If an ugly house has existed for 100 years, or even 50 years, it's always sold.

[Camden Northsider]

Originally Posted by highlanderfil

...I'd be more than happy to check it out, but I believe the bolded text is where the issue lies. Your particular stretch of street might be beautiful and peaceful (indeed, if you live in one of N'hood Scout's "lighter" areas of Near North, that would be proof positive of the stats' being accurate), but can you run a 5K in a random direction at 10 pm and feel just as comfortable? Can a slightly-built dude? Can a 21-year-old female?

Yes, yes, and yes. I regularly do run 5Ks in various directions, and regularly pass slightly-built dudes and women of all ages doing the same during the daytime or at night. Check out Victory Memorial Parkway sometime. And I'm not talking about a "stretch of street". When I refer to my specific area, I am talking about the Victory Neighborhood, a swath of area that is roughly 10 blocks wide *and* deep and directly adjacent to other areas that are similarly nice, e.g. robbinsdale to the west, shingle creek neighborhood to the north, and cleveland neighborhood to the south.