Did You Buy Your Home As an Investment or Permnament Place To Live? (Charlotte: for sale, mortgage) - City-Data Forum

SunnyKayak · 06-04-2008, 05:01 AM

When I moved to Huntersville my intentions was for investment purposes but I seem to have grown fond of the area that I might be here for awhile.
I had total intentions of cashing out when the time was right and I was only planning for five years but will probably hold out for another five years depending on market conditions.

A 2500 sq ft 4 bedroom home in 2001 in Huntersville average around 150k and now are around 220-250k and I am just not totally sold on making this a permnament home to grow old in due to there a feeling of disconnect in this area with the majority of the people being from some place else in this area.

I am thinking it partly due to that I grew up where there was strong family and friend type of enviroment that could share a bond of long history with their family in that area.

I am happy here and I love the new things I can do in the area and that there is options of things to keep me occupied but I am wondering if the fact that I came here to make some money off this "new" city is setting me back from bonding closer with the community.

I have enjoyed watching this city grow. I still remember when Birkdale was nothing but construction dumpster around a empty shell and I hope Neck Road never become developed out even though I see for sale signs at the beginning of it.

I didnt really think about this til the rodeo in Troutman the other day.
I was expecting a real redneck type of crowd and it was mostly suburbanites there. I am not familiar with the history of Troutman or Iredell county but was there or is there a strong Cowboy crowd in that area or was it Troutman trying to save it heritage from being destroyed by Suburban life.
I will give credit for them bringing their kids out for the cultural aspect.

I think I just went off topic in my own thread that I am starting lol.
Does your intention in the reason you bought your home affect your bond with your community?
Do you plan on moving down the road and why will you do so?
Does anyone else do projects around your home to update your home for future sale of the home more than just for personal enjoyment?

QC Misfit · 06-04-2008, 05:58 AM

I've lived here to long, being Huntersville. I'm not going anywhere. There are still friendships to be had. Most of my high school "buddies" have moved elsewhere through jobs etc so IMO it's not just happening here it's happening everywhere. We can't continue living in the past and wishing for back when. We can still hold on to family values but the way of life is/has changed and there is no turning back. I will be in the Charlotte Metro area until I die unless I get millions of dollars and buy a villa in the caribbean

NCyank · 06-04-2008, 06:42 AM

We buy for both. Having moved several times we understand it is important to feel at home wherever we are, but resale/investment does not take a back seat. We have been here 5 years now and would be happy to stay much longer. AFAIK our home is appreciating nicely and should we have to move it would prove to be a wise investment as well.

For us it has always been about finding the right balance. Any improvements we make are for our liking but we don't make permanent changes that would negatively affect resale. We bond with our community because for the time we are here it has to be Home. We don't live any where near family so the community is important to us. It makes leaving harder, but the alternative is awful lonely.

the 7 oh 4 · 06-04-2008, 06:58 AM

Investment.

Hope to retire in either Asheville or South Florida or both.

pinkpocketbooks · 06-04-2008, 07:07 AM

We bought with similar intentions as you, Sunny. We originally planned to stay for around 5 years. We've only been in our house for 1.5 yrs so far and we still really enjoy it. I think our home will do nicely with appreciation, but I don't expect it to be a big cash cow or anything either. When we bought we had every intention of buying in a neighborhood that we 'thought' would be appreciating in value. who knows what the situation will be in 5 years though ??

flyingscotsman · 06-04-2008, 07:18 AM

Well if I knew what the future held.........

Bought the house to live in for now, planning on living here for a while, may in time upgrade to another house but would expect to stay in this area.

DawnW · 06-04-2008, 08:07 AM

Investment!

It is in a great area that has just shot up in value since we moved in!

Plus it had a 950 sq. ft basement that was unfinished and we are closer to finishing it and making that heated sq. ftage to the house for added value.

Dawn

diertac · 06-04-2008, 08:28 AM

Semi-permanent place to live that is also an investment. How's that for obscure?

3.5 years ago when we bought our home it was with the intention of living here 5-7 years. With my in-laws moving to Lake Wylie just down the road, we'll probably stay put here more like 12 years. I would like to move into a more "custom" home for us, with fewer bedrooms and larger kitchen, entertainment areas, but I don't see that happening for some time.

QC Misfit · 06-04-2008, 08:32 AM

should you call your personal home and investment? its seems more of a liability to me.

BxRosie · 06-04-2008, 08:33 AM

As I told the mortgage rep at the bank when she asked me how long do I intend to live in the home...until I die, I ain't going no where. Unless something drastic happens, this is it for us. We bought the house as a permanent home, it's my son's after we're gone to do with whatever he pleases.

BxRosie