We looked at a house tonight that had some real potential. It needed a lot of work, but most of the work was cosmetic, and the cost was significantly lower than the houses we had previously seen, so were we to purchase the home we might actually be able to afford some significant updates. The problem? The street was very run down. In fact, the house directly across the street was a dump. There was trash on the porch, the lawn - everywhere. It was bad. The houses were also very close together - and the street narrow. There were two very nice homes on the street (one brand new and super expensive/fancy), a couple of trailers and run down houses, and the house that we looked at - which looked rather nice from the outside. All the houses were pretty close together, but the house we looked at did have a medium-sized yard in the back (which I think looked smaller than it actually was because it was almost all garden).
To the best of my knowledge the area is safe. The school district is decent. The town has its pros and cons. Overall it's a town that used to be very dumpy but is now starting to improve. Will it continue to improve? I don't know.
Would you consider this house, based only one what I have said above?
Part of me thinks it's a bad idea. Another part of me thinks I should be humble and, aside from the consideration of re-sale value in such a neighborhood (a dead end street, by the way), just ignore the surrounding houses and go for it.
Ultimately, I am a terrible decision maker and just don't know about this place.