Value is in the Eye of the Beholder

June 24, 2009
Matt Isleib

 

One man’s junk is another man’s treasure, that analogy could not be any truer. In stumbling upon a recent article in the NY Times talking about really bad home locations that people love I thought it is perfect for the classroom.

Home buying 101 is location, location, location. When you are a buyer odds are at some point you are a seller. In the NY Times article it points out bad home locations that people love. For example a woman in Connecticut who purchased a 1800’s summer home in Cornwall Bridge. It is directly next to train tracks, if you moved the same home a mile down the road it would probably double in value so the type of home that she wanted was more attainable and she is ok with the train running through her backyard.

Why do some people prefer contemporary style homes instead of colonial? Each and every one of us has different likes and dislikes. The bottom line is there are always different strokes for different folks and there will always be a market for what some of us think are odd places to live. Hopefully if you are one of the people that like “different” places to hang your hat you are not looking to sell anytime soon.

NY TIMES ARTICLE BAD HOME LOCATIONS PEOPLE LOVE