Relocating to NKY, Need Advice (Cincinnati, Dayton: sales, apartment, rentals)

[Blades5374]

Hi all,

My Wife and I will be relocating for a job to Erlanger, KY. We are coming from Virginia Beach, VA and will have no friends or family in the vicinity. We are both 30 years old, and have no kids. We will be having kids shortly though, so we are looking for areas with good school districts. We will be buying a house in the $200k to $250k range. We were looking at the Florence, Union and Independence areas of Northern Kentucky originally, but only because the houses are really nice there for the money. I know nothing of these towns. I need advice on where we should look to buy a house that meets the criteria I put below.

. Where is you current location and environment?
Currently live in Virginia Beach, VA. We are a very active couple, we have a lot of friends and go out and do things often. We would like to be closer to the action, but we are ok with a drive into Cincinnati of about 20-30 minutes.
. Are you looking for similar in Cincinnati or a change?
We would like to be close to things to do around Cincinnati, but neither of us want to live in the city. We like our space. We would prefer the suburbs where we can get some space, and occasionally drive into the city.

. Where will your work location be?
I will be working in Erlanger, KY.
. Maximum commute time desired?
Max Commute time of 20 Minutes. My car gets terrible gas mileage on Premium gas.

. What is you budget for housing?
200k-250k. Buying a house, Single Family above 2000 ft with a garage.

. Neighborhood environment?
. Suburban, low maintenance, quiet streets, soccer mom atmosphere. Looking to raise kids shortly and we just prefer to live somewhere quiter and safer. We don't mind the occassional drive into the city, just don't want to live there. Would like a medium sized yard. Would like a safe neighborhood. Don't mind paying for a HOA. Additionally, we are active, like to workout, participate in outdoor sports, etc.

. Schools?
Want good safe public schools to raise our kids in. We are looking for a place to start our family.

I only put northern Kentucky because I am not aware of the tax differences between Ohio, Indiana, and Kentucky. It seems most of the people I would work with live in Kentucky though.

[kjbrill]

I will second your appraisals of Union, Florence, and Independence, staying south of Erlanger. Keep the commute short and get the most house for the money. You won't regret it.

[Sarah Perry]

Look at Ft. Mitchell and the small, highly regarded Beechwood school district.

[kjbrill]

Originally Posted by Sarah Perry

Look at Ft. Mitchell and the small, highly regarded Beechwood school district.

Since you have not kids yet, you have plenty of time to worry about schools. I would go for the most house for the buck now, get your feet on the ground in knowledge of this area, then start thinking about schools and such once the kids materialize and you know the job in Erlanger is a keeper.

[SWOH]

Rent first and get a feel for the area. Try a rental in one of the communities you picked and see how it goes. Straight buying now probably is not wise.

[kjbrill]

Originally Posted by OHKID

Rent first and get a feel for the area. Try a rental in one of the communities you picked and see how it goes. Straight buying now probably is not wise.

Except for the fact that Cincinnati is not a real good straight rental area. For years now rentals have been quite slim pickings. I expect the depressed housing market has increased the number of rentals due to the number of non-sells. But the non-sells also want higher rents to offet their under water mortages and other expenses. There are just too many owners who refuse to accept the fact property values in the Cincinnati Area have dropped significantly in the past several years.

From what I have seen, homes which are in good condition and priced according to the current market are selling briskly, particularly in the mid-price range. I define mid-price range as $175,000 to $250,000. In fact, many of them, by the time they actually hit the online multiple-listings have an offer pending posted. This tells me there are a lot of people out there who have a specific criteria for a house and have told a realtor when you see one of these give me a call.

Reminds me of when my realtor relative sold my house in less than 12 hours from the time I signed the sales agreement to when she presented me a firm offer to purchase. She tried to tell me, Ken list it for more, I can get it. I thought it was just another salesperson blowing me smoke. The next afternoon, after presenting the purchase offer, cash deal by the way, she said Ken I have a list of people looking for this type of house, in this price range, in this school district and locality. I just went down my list and started calling. Luckily one couple who had recently sold a much larger home and wanted to downsize saw it, came over this morning, and said that's it!

If the OP wants to rent and test the waters, then look for the minimum level apartment you feel comfortable in. No fancy swim club, fitness center, and such you will pay for but not own. Be on an austerity program with the idea you will not stay there long.

Again, this is a home purchase market, not a rental market. You may take some time to evaluate what you see and have to digest. But believe me your best bet is to purchase inside of 6 months.

[SWOH]

Agreed it's a buyer's market kjbrill. Routinely the Daytonnati metro is ranked among the Top 10 for places where to buy and not rent.

Despite that though, suburbia can vary widely by subdivision, not even considering variation by political jurisdiction. HOA fees, community amenties/character, home features, school quality, etc. is a lot to consider. And at the price the OP wants to purchase at, they will have to compromise in some areas, whether they are in NKY or OH.

Renting will give them a good feel for where they can get the most value for their individual family needs. But yeah, rent without the frills to put the pressure on to GET OUT and move into a house.