[quote=all][quote=Happs]
I would argue that macro and quantifiable conditions such as the economy, number of foreclosures in an area, crime statistics, quality of school district, the CC&R’s and especially an HOA’s balance sheet and monthly dues vs services rendered take precedent over exterior looks when purchasing a house.[/quote]
You should probably ask the ladies on the board to comment. In our case my wife was interested in schools and crime statistics (sex offenders in particular), the neighborhood look&feel&walkability and the house itself. I had to hit all four – any developing nation looking neighborhoods (e.g. utility poles with overhead power lines along the street) was out of question.
The price, MR and HOA fees were part of ‘can we afford it’, not ‘do we want it’ discussion.[/quote]
^^^this^^^
Like it or not, most houses are chosen by women, and it’s pretty well known that right after location (overall geography and also general socio-economic level of the majority of nearby residents), curb appeal is one of the main factors in how much a house will sell for. You can have tiny, outdated houses with weird layouts, but if the yards are beautifully landscaped, and the general location is highly desirable, these houses will sell for more than larger houses with good layouts on larger lots in “less desirable” areas.
Crime is a HUGE factor in determining housing prices. It is closely related to the general educational and professional status of nearby residents, and people will pay a very large premium to live in safer, cleaner neighborhoods with more highly-educated residents. It’s what people are talking about when they mention “location, location, location,” and it’s almost as important as geographical features like views, proximity to oceans/lakes, etc. (which, because of their desirability, will tend to be priced higher, so will draw mostly wealthier, better-educated buyers).
Unfortunately, most people are emotional buyers, especially when it comes to housing, so the appearance of the general neighborhood, yard, and exterior of the house will trump the more “logical” things like HOA finances (as long as it’s solvent). A clean, safe, well-kept neighborhood connotes higher-class/better-educated residents, and this is what most families will pay a premium for.
