WWYD...Cresent Park or Community Center almost tear down house or Barron Park new house?

Asked by Home#2, Los Altos, CA Sun May 11, 2014

My husband and I have been looking for a Palo Alto or Menlo Park home in the $3m range. We love Cresent Park, Community Center, Central Menlo, Allied Arts but can't afford the kind of home we would want (newer & 2500 sq ft) in these neighborhoods.

Our debate has been do we buy a crappy but liveable house in a good neighborhood with the intention to tear it down and rebuild in 3 years when our incomes allow this or do we by the kind of home we want in a neighborhood that is more affordable but quirky (Barron Park, University Heights) and move in 5 to 7 years?

I know we could do something in the middle like a remodel but we haven't seen many successful addition/remodels and would rather rebuild than put humpty dumpty back together again.

Thanks in advance for your input!

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Paul Levine’s answer
Paul Levine, Home Owner, Palo Alto, CA
Sun May 18, 2014
Hi - my wife and I live on Waverley St, very close to Community Center and Crescent Park. Our kids go to Addison Elementary. We've found it to be a great school and a wonderful community. I don't know Barron Park well, so don't have much basis to comment.

If you have school-age kids, schools/community will be a huge factor in your quality of life. And once you start growing roots you may not want to move again. Net - I'm biased, but I'd say start growing your roots in the community you want to live in, then rebuild the house when you're ready.
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Kent Turansky, Home Owner, 92344
Sun May 11, 2014
Hello,

If it were me...I would buy the lower end home and build up my reserve to either tear down and rebuild or buy a nicer one in the future.

Kent
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