Hi,

My fiancee and I are first-time homebuyers and we were hoping to get some advice on whether this community we're looking at building a home in is a good idea or not.

Here are some of the particulars about us:

-Our total monthly income is ~2600 after taxes

-We have no current debt other than my student loans (which I will not have to begin repaying until November at a rate of ~180 month)

-We are looking to close before December 1st (to take advantage of the $8k tax credit)

-After approximating finances, we will have ~14-15k to bring to the table when we close in November (including the tax credit...we have an arrangement with a friend to use it as part of our down payment)


Now, for some details about the house we're looking at:

-Located in the neighborhood of Waterleaf Dr in Avon, Indiana

-Here are the basics on the house:

-1725 sq. ft.

-3 BR/2 Bath

-Builder: Arbor Homes

-Lot size ~10500 sq. ft.

-Sod in the front/side, hydroseeding in the back

-Backs up to an open field (3-5 years, will be another set of houses from the same builder)

Options selected:
-Brick front
-Wood-burning fireplace (family-room)
-Garden tub and deluxe walk-in shower in master bath (increases total length of house by 2 ft.)
-Dual sinks in master bath
-Upgraded maple cabinets
-Vaulted 9ft. ceilings
-10' x 12' concrete patio in back
-Wiring drops for fans/lights in each BR
-Window grills all around the house
-Built-in microwave
-Smooth walls
-(No bonus room)

-Price with options: $140,000


Now, for my questions...

-All things considered, is this a good buy? (Please, ask questions if more detail is needed to make this a determination)

-Is Avon a good place to be buying a house? I've been looking at stats on it and it seems like a nice town, but I'm not sure...6k people isn't very large.

-We are planning on putting a 6 ft privacy fence around our backyard...when we move in 6-7 years and there are neighbors behind us, will this be enough privacy to still keep them interested in buying?

-This neighborhood is within 2-3 miles of a train station and within 5 miles of the Indianapolis International Airport...should I be concerned about noise from either of these?

Any other questions I should be asking?


Thanks a lot,

Brian