Thread: Buying most expensive home in the neighborhood

Hi jb32,

Great question!

I've had propertys listed in the past that were the most expensive in the neighborhood. The usual folks that tended to buy these properties were lawyers and doctors who wanted the most expensive house in the neighborhood. I should also note that these properties where the biggest and fanciest in the neighborhood too.

I've been doing this along time and have seen markets in the past that resemble this market and have always came roaring back. So if your planning on staying as long as you say, I wouldn't worry to much. However. I can't tell you how many people tell me this is there last house and I get a call within 5 years to sell. Life happens.. Things change..

I do counsel buyers with the least expensive home/ greatest return theory and then shut my mouth and let them make the decision. I'm always conscious of getting the listing in the future and I want something I can sell without too much trouble.

Best of luck to you!

Thanks for your post.

Buying the most expensive home for sale in a neighborhood is not always a great idea, but I wouldn't say it is necessarily a bad one either.

It all depends how long a person will live in the home, if the home has some great advantages for the buyer personally (close to work, etc). Really, when it comes time to sell, as long as there are some other similar homes for sale in the same MLS area, our team has seen sellers who still are able to get their "most expensive home in the neighborhood" sold.

I hope this helps.

You are correct that buying the most expensive home in the neighborhood is usually not a good idea. However, if you plan to be there 25- 30 years I don't see any problem with it. At that point it is a bit like a add swimming pool; where you are just doing it for your enjoyment and realize you won't get out the money you put in.

You may think you are going to live there for 25 years but what if there is a job transfer? Rarely do buyers live in their homes for that long anymore. Buying 100K over average sales price is a bad business decision in any neighborhood.

It is a tricky question and general view is why do you dump so much money when you are not certain about returns.If you are least bothered about the returns and want to spend most of your lifetime there,then you can go for it.

I don't think that buying an expensive home in neighborhood is very good idea. I mean future is not certain then how can you take decision like you will live there for 25 to 30 years? As per my point of view, you should buy a bit cheaper home then you are planning to buy for..

This time, buying the most expensive house in the neighborhood is not good. Because you can buy low cost house and you can develop it into most expensive house that you want. less money to spend but a little bit more effort to do.

Try to buy most expensive house in your neighborhood right now is a bad move because you need to think wisely for you to budget your money for other expenses. The best choice to find new house is the one is cost-effective.

mmmm.....difficult topic...i think that the more expensive house it is not necessary choice....depend of your need and of your family for the future