Is it low enough that you will be required to purchase flood insurance? Flood insurance isn't included with normal house insurance. People whine about the extra expense of PMI - Flood insurance is also one of those extra expenses that a duplicate home in a better location wouldn't have.
Update:
We went for a tour this weekend. Gorgeous house. The owner is a cop and the place was kept really nice.
However, we decided it was just too close to the quarry.
It was close enough that we could hear some explosions and lots of trucks when we were taking the tour, and since we have 4 cats and allergies, we just couldn't rationalize it.
Fortunately, our realtor found us a house about 1 mile away, farther inland and up on a hill, that the gf ended up making an offer on (contingent that it passes inspection).
It needs some work; lots of it actually, but it's $190k and nestled among $300k-$400k homes. You have to drive through a really nice upscale mini subdivision (maybe less than 15 homes) which leads to a private drive. There's about 6 older houses on this private drive, each with big lots. (1-2 acres).
GF put in an offer ans we're waiting to hear back. I'm already talking to my contractor friend about going out to bid on some of the work we want done. We'll paint, clean the carpets, etc. but some of the kitchen renovations will need to be done by a pro.
http://www.trulia.com/property/3223517527-5051-Ivondale-Ln-Saint-Louis-MO-63129
That's a shame. It would have been cool if your GF could have worked at the quarry and simply slid down her dino to get home each day.
Good deal. It's nice to live in house on the block with room to appreciate and leave the higher prices to the suckers when you're young. 5 years time and a little work, it may be an easy $50-60k+ payback if she decides to move after doing the work.
Man, for an upscale neighborhood, if Trulia's map is correct, there sure is some crime in that area.
I'd also look into why there's an in-window AC unit in that bedroom. Makes me wonder if the HVAC just isn't that good for that room.
Crime? It's St. Louis County. I was just relieved the crimes weren't murder.
So.. good question, and this leads up to a snag we have in making an offer.
It's an old lady that's stuck in the house. She's upside down, can't afford the repairs, and needs (so they say) the exact amount they listed it for to pay off her mortgage.
The house does NOT have central AC. That's one of the things we'd have to put in.
Again.. it's St. Louis. I grew up a 5 minute drive from East St. Louis. Shit happens in this area.. all the time.
I unlocked a few achievements working in those areas for fujitsu, doing co-location work in the sbc buildings. Congrats on still being alive
One 'thug' shoved a white girl that refused his advances down a flight of steps, and 3 country dudes carried the 'thug' up to the top of the stairs (3 stories) and threw him over. Broke his back, etc.