anecdotes / humor / satire / Uncategorized

Would You Live in the Ghetto for $200k?

If you had to live in it…for at least a year? 

Welcome to the gentrification capital…and to another one of my hair-brained schemes! 

As you all know, we are in the thick of locating and buying our first home. I desperately want to remove myself from the once desolate, now thriving, downtown scene because I feel crowded. But, I want to make good choices for our future in the process.

A little home has recently come on to the market, and it is Ghetto adjacent.  I don’t use the term ghetto lightly here. There is gang activity, open prostitution, and a very palpable sense of fear. BUT, the properties in this neighborhood are currently being bought out by affluent hipsters who want to live as close to the downtown scene as possible. 

This home is listed for $25,000 under our approval max, so that leaves some room in the budget for renovations. Properties within .25 miles of this house have recently sold for 3x the amount of its listing price. That’s a solid chunk of change, and could afford us our country dream home…if we survive.

Just a little TLC!

I’m the dreamer and Derek is the pessimist  realist. He really does keep me grounded, and I already know his answer will be no. Silly Derek-worrying about rapists and murderers-while I stop to smell a rose that was probably fertilized by a hobo.

But what if?

What if we stuck it out for one more year, slapped some paint on the exterior, refinished the hardwoods, and landscaped the yard?  What if we played a part in the revitalization of downtown and doubled to tripled our money while doing so?

I’m in y’all! I mean…what could go wrong???

Enter hilarious clip from The Money Pit

Seriously though…what would you do?

8 thoughts on “Would You Live in the Ghetto for $200k?

  1. The first house we bought was in kind of a ghetto…lots of families but mostly Mexican and some gangs. It wasn’t the scariest of neighborhoods but I didn’t feel completely safe either. The neighborhood nearby was pretty hip. We doubled our money when we sold. Of course we then went broke paying off the mortgage on the house we moved into since it was more expensive.
    We moved a lot after that and one of the places we moved to was kind or a similar neighborhood but slightly worse. There were hipsters here and there but they never over ran the gang activity and we ended up moving, mainly because of the neighborhood. Of course we didn’t have a house there but if we did, I might have been upset because that neighborhood kind of did suck and wasn’t even near anything hip like the house was.

    • Derek will most likely never go for the house-flipping thing anyway, so it’s really just a pipe-dream. Our common goal is to live well below our means, and hopefully squirrel away money for the future.

  2. Oh Kim… My mom always tells me: “You can renew the entire house, no problem. But you can’t change the neighbors (or neighborhood)”.
    Also, we have a saying in my country: “Buying cheap is expensive”. 🙂

    I’m a dreamer too but the idea of not sleeping at night because I hear screams or shots, wakes me up 🙂

  3. I don’t care how nice the house, I would not live in the a bad neighborhood. To me the neighborhood and vibe is EVERYTHING!! I was faced with this when I was looking, and I chose to spend a little more to live in my preferred neighborhood!! I don’t care if there is a nice, cheaper place somewhere else. The neighborhood vibe better be spot on!

  4. I have to agree with the gang here. I bought a home in a neighborhood once that was on the fringe of a bad area. I let the realtor convince me that all the new subdivisions going in would weed out the bad element and revitalize the neighborhood. It never happened, there were shady people roaming the streets, break-ins everywhere, and I ended up losing money on the house because I couldn’t sell it. It was a horrible experience. Something better will come along.

    • Yeah…I think it’s a risk we’re not willing to take right now. As it stands, we’ll be putting all of our eggs into one basket when we do settle on a home. Derek also works nights, so I’d be home alone most of the time,and he’s just not comfortable with that. Thank goodness for level-headed fellow bloggers and a protective guy!

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