A Modest Home in a Fancy Community: Always a Good Deal?

: "A prestigious address and a fancy zip code. As a homebuyer, you may not give a hoot about such intangibles. Yet as a purchaser concerned about your net worth, you can't afford to ignore the financial advantages of status, real estate specialists say.
'You're almost always better off trading down on the amenities of a home if the payoff is getting into a classy neighborhood,' says Leo Berard, charter president of the National Association of Exclusive Buyer Agents.
You may not envision yourself in the Jaguar crowd. Yet if you can afford the equivalent of a luxury car when you select a neighborhood, you can expect your property to ascend in value faster than if you bought in an 'economy car' area."
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