HUNTING....around the B'ham area..... (Birmingham, Homewood: for sale by owner, to rent, mortgage)

[caseyltr]

...for a place to buy a house. I know this kind of topic has been hashed and rehashed numerous times in numerous threads. However, I haven't read one that is specifically geared toward my needs so I thought if anyone could and would chime in and do a good deed to help me out that would be really wonderful.

Specifics are newly married, first time home buyer, both wife and I will be commuting to B'ham specifically Homewood area. We can afford to spend no more than about 145k for a house. I have looked at the homes available in some areas namely Calera, Alabaster, Gardendale. Here are my concerns.

After doing some prelim research into the Calera area after I saw all the little garden homes popping up down there I have read that the downtown area is dilapidated in addition to the police and fire departments being declined for an increase in man power and equipment. That is a little disheartening. The drive from Alabaster I read/hear is pretty frustrating with travelers spending more than two hours a day on the roads getting to and from work which is obviously not a good thing. So I can imagine just how bad it would be from Calera. I've also noticed that the traffic from the north side can be bad which is expected with B'hams Malfunction Junc.

So with commuting aside b/c its bad from all directions (or at least i'm assuming if you know different please feel free to chime in) what is the best area for return on our house in a few years??? Thanks in advance for the help/advice and my apologies about the lenght of this post.

[UABinBHM]

I would recommend living in Fultondale, Gardendale, Mt. Olive, or Kimberly... no question. Two major mall/shopping centers are under construction out here. A new $50-million high school will be built in Gardendale very soon (always a good thing in terms of helping with resale value if that should become an issue).

Traffic is not NEARLY as bad going to the north of the city... even with having to go through Malfunction Junction. I live in Mt. Olive (approx. 15miles north of Birmingham) and have to commute during rush hour traffic both morning and evening. On average, it takes me 30 minutes or less to travel that distance. To go 15miles south of Birmingham would probably take you a minimum of 45 minutes, and that's on a good day.

Home values out here are going through the roof as you might expect. I-22 (an interstate connecting Birmingham and Memphis) will be completed in the next few years and it will tie in around Fultondale/North Birmingham. Some people don't like interstates maybe, but it means increased accessability, increased commercial growth, and increased home values. Also, over the next few decades, the northern beltline (the north side's version of I-459) will be under construction... again, a huge economic stimulus which means incredible home appreciation.

Bottom line, the north side is the least populated, least traffic-congested area of town. It also has arguably the most potential in terms of home appreciation and the like. Again, Gardendale/Mt. Olive would be my biggest recommendation, but really anywhere north of Birmingham in Jefferson Co. would be a great bet.

[Southlander]

Good advice...you might also consider Blount County, north of Gardendale/Mt. Olive area. It's quite rural, but you can get a cheaper home.

[Twostep]

Why not rent for starters and take your time checking out the area particularly traffic pattern?

[caseyltr]

UABinBHM thanks for the help I really do appreciate that.

Southlander are you saying I can get more home for the money up there? Hayden area?

TwoStep we had thought about that...and actually both sets of parents have suggested that as well. But I really hate paying to rent when for a couple hundred dollars more a month we can buy something. But if we could not find something in our price range that we liked we can always stay with our folks for free

We are both from up around the area that yall are suggesting well actually closer to hwy 78 than I-65. So I wasn't really sure about the commute time from the north side or south side for that matter. But generally we're from the same area so im pretty familiar with the towns around north birmingham. It sounds like a great place to buy from what UABinBHM is saying. I guess I was looking to see if anyone thought the south side of BHM was a greater buy than the northside and why.

And if any of you know some new neighborhoods worth looking into or advice on agents and the like i'll gladly listen to that as well. Thanks again and if anyone else wants to chime please do so. I'm trying to gather as much info as possible.

[Twostep]

Use the resource of parents if they have enough space so you as newlyweds will not clash with their lives. Save as much as you can. Keep an eye on the housing market and bookmark all for sale by owner sites. Take the time to familiarize yourselves with the financial side of home buying and negotiation techniques.

I rushed twice and paid dearly for it later:>)

[Southlander]

Yes, I believe you can. The area on the north side is not as in demand - right now - but that will change because south side is moving farther and farther out and the commute is worse. Gardendale is like a secret - pleasant small town, good schools, nice subdivisions going in. I think it will start heating up any minute. Best bet is to look for yourselves. Get a fixed rate mortgage and of course, make your down payment as much as you can. Keep your credit rating up. Be patient. Find exactly the home that's right for you. Best of luck!

[caseyltr]

southlander i really like the gardendale area even though i hated them in high school since we played basketball against them and never could seem to beat them. aye aye on the fixed mortgage. i got kin in that business so maybe blood will be thicker than water haha.

twostep i totally undertand that on the parents that is just a last ditch move there. and to be honest i really don't know but one fsbo sites. If you wouldn't mind emailing me some i would greatly appreciate it. I've googled that before but i have only found one or so that is usable. And i'm sorry for your mistakes and i greatly appreciate the advice already. If you wouldn't mind what exactly were the mistakes so i can learn from them. a wise man once told me its good to learn from your mistakes but it is alot better to learn from someone else's.

[caseyltr]

so buying a fsbo is generally cheaper than buying a home listed with an agent? am i correct on that? or does that depend on how adept i am at negotiating? maybe i should go buy a book on how to negotiate.

and yeah i have threadjacked my own thread delving into how to buy a home rather than where haha sorry guys

[Twostep]

I sent you a number of links.

Negotiate in the sense of haggle:>) How can I get more out of my banker? What is a freebie for a builder but a nice to have for me? How far can I push the price or should I better ask for something to be thrown in?