[g37rider]

Psych, in my opinion, it sounds to me what's most important to you is a brand new house, or one that's been built in the last 5-10 years to match your style. The problem is you're going to be paying a lot more than $15-20k to get that house in a nice location and from what you've said you don't have a lot of money. So, if you must have a perfect (or near-perfect) house, then you'll have to settle for the less desirable neighborhoods. The problem with that is you'll still be paying top dollar for the house and your investment returns are going to be minimal at best, and at worst you're left owing significantly more than the house is worth. This is what a large and growing number of Americans are facing right now and they're walking away from their brand new, spiffy homes with ruined credit.

What I and a few others in this thread are trying to tell you is to consider location a top priority. Settle for the house in a high-value area that needs a bit of cosmetic work, or as you call it "updating." That $15-20k you invest will only reap you rewards down the road. You never know what the future holds and you don't want to be stuck with something you can't sell without losing money.