Monday, October 10, 2005

Laurel Ave

On the market there are three houses for sale on Laurel Ave. If you are not familiar with Carrboro, then let me tell you that Laurel Ave is a small street very close to the Carrboro's Farmer's Market and a short walk to Weaver Street Market. It has only been in the past five or six years that any new development has occured, so there currently Laurel Avenue is a mixture of owner occupied and rental units.

The three houses on the market:
208 Laurel Ave: $299,900, 1560 sq/ft, 3 beds/2.5 baths, $192 per sq/ft
210 Laurel Ave: $312,000, 1560 sq/ft, 3 beds/2.5 baths, $200 per sq/ft
212 Laurel Ave: $540,000, 3944 sq/ft, 5 beds/4.1 baths, $136 per sq/ft

It is clear that 212 Laurel is a different 'level' of house, so let's compare 208 and 210 Laurel Ave. These are both new construction homes, currently being built. They are the same floor plan and right next door to each other, so why the different prices?

It turns out that 208 is on a larger lot, but has 8 ft ceilings and 210 has nine foot ceilings. 210's lot may be smaller, but is located between two newer homes, where as 208 is next door to an older (dare I say it?), more run-down home. So which home is better? That completely depends on the buyer, but if you are looking for a new construction home (and there is not a lot of new construction in Carrboro) then these are definately a must-see.