Home Buying in Ellington>Question Details

sr, Home Buyer in Ellington, CT

I am contemplating between a new house in Ellington and Vernon.

Asked by sr, Ellington, CT Wed Feb 13, 2013

Ellington house is in community costs me 345k for 2200 sq.ft., whereas the Vernon house costs 330k for 2600 sq.ft. Both houses have never been occupied and built in last 2 years. I am worried about the resale value, as schools are not too great in Vernon vs Ellington will that effect my resale value? whereas Vernon house is more for the money.

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Answers

6
Thanks for all your answers.

Looks like I will go with Ellington -

1. Better school district
2. Natural gas available at the selected property (seems cheaper than Propane)
3. Can rent if not sold ( feasible with managed condo vs single family house )

Taxes -
I am not sure about these. As Ellington is as expensive as Vernon on taxes.

Thanks,
Sawan
0 votes Thank Flag Link Fri Feb 15, 2013
Hello:

What it really boils down to is the specific location where the property is located. There are properties in Vernon which can fetch as high as the properties in Ellington.

Location has to be factored in primarily and the condition and features of the house.

There would always be a buyer who will be willing to pay for the asking price as long as it can be justifed depending on the factors mentioned above.

Home prices are market driven.

Do keep this in mind,

Best of Luck.

Maria
0 votes Thank Flag Link Wed Feb 13, 2013
Right I am concerned about resale, so what should I choose Vernon or Ellington?
0 votes Thank Flag Link Wed Feb 13, 2013
I have lived in Ellington for the past 20 years. The town has grown tremendously. Still has the small town feel. Property is more expensive than Vernon. Dollar for dollar Vernon has much higher property taxes. Usually you also have more acreage with properties in Ellington. As far as resale, I believe both towns have gone up and down in value approx the same percentage over the years. I have lived in the area all of my live and have come to like Ellington.
0 votes Thank Flag Link Wed Feb 13, 2013
Also- here is a video I made last year addressing to buy for the community or discount home:

http://www.youtube.com/watch?v=v5lRnIehxfI

Hope it helps!
0 votes Thank Flag Link Wed Feb 13, 2013
Hi there!

Have you asked your Realtor their thoughts? Looks like you are concerned about resale. If that is your number one concern, then make a business decision on resale. If you are looking for more room/price per square foot, then do what you need to accomodate your needs. You have to be comfortable and love where you are going to live. You need to trust your gut.

A pro/con list on each home will ultimately lead you to your best choice if you are looking to make a sound, business decision to really compare apples to apples.

Good luck!

Kristina Zack
http://www.findconnecticuthomes.com
860.307.9600
0 votes Thank Flag Link Wed Feb 13, 2013
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