Monthly payment is also lower. If we can't get good investment returns on the additional $10,000 downpayment, I would choose the $250,000 house and fix it up with $10K cash.
Yes, that's why I bought a new model home in Bay Area even I know the resale value is so so because the lot is only 1500 sq ft. But it's still a single family house with 2100 sq ft inside and no other house in the entire 78 community can beat the location. The living room, kids room with bunk bed and patio are facing south with view of community park. Dining room and master suite with balcony can see the mountain on the east. House gate open to th east side and garage door to the north. The only side blocked is the west side. Every room is bright and all 3 and half bath rooms have windows. The high school is 2nd best of the city with 50 percent Asian, not as high as 80 percent Asian of the 1st one but still majority. The best is that the kids can walk to all schools before they go to college. This is my dream house and very lucky I bought it as a first one without looking at any others, and no agent, but still got 32000$ discount and all furniture.