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Old 11-07-2017, 06:57 AM
 
2,694 posts, read 2,238,403 times
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I think you are getting some good advice on this board. I haven't lived in the area for a couple decades but I still have family there and visit at least once a year. I would second Deer Park, Norwood, maybe even Silverton or Kennedy Heights (?) - Pleasant Ridge is probably > $120 for 3 beds, but also a great idea. I used to live very near this house and while its on a busy thoroughfare, its a solid, family friendly area.

https://www.trulia.com/property/4544...nnati-OH-45236
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Old 11-07-2017, 07:59 AM
 
Location: Cincinnati near
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Just a few observations I've accumulated watching people own and rent in the Cincinnati area over the last 20 years or so:

-The relationships between selling price, cost of ownership, location, and utility (or size, if you prefer) are very complex and nonlinear. a 100K house can end up costing more annually than a 150K house, as mortgage payments are only part of the picture. I know it sounds backwards, but you can end up paying a premium for the "privilege" of buying a lower priced house. Pay attention to insurance costs.

-Moving is a massively stressful and the transaction costs for selling a house and originating a mortgage are particularly high for modestly priced houses. I would not buy a house if I didn't plan on staying in it for 10 years.

-In the less expensive Cincinnati and inner ring suburban neighborhoods, there is a huge difference between the 100-110K and the 120-140K houses. In Madison Place, for instance, there are some 130K houses that are absolute bargains and 110K houses that are truly dumps. It would take 50K+ to renovate the 110K house to be anywhere close to the 130K house. With good credit the money is a whole lot cheaper for the mortgage than a home improvement loan 5 years down the road.
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Old 11-07-2017, 06:36 PM
 
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I would seriously consider St. Bernard if I were you.


It's 5 minutes from Children's, and central to everything else. There are houses for sale now in your budget, it's a very safe area, and is in its own school district.


Here's an example:
https://www.sibcycline.com/Listing/C...rnard-OH-45217
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Old 11-08-2017, 11:02 AM
 
1,577 posts, read 1,682,568 times
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Quote:
Originally Posted by CinciFan View Post
I would seriously consider St. Bernard if I were you.


It's 5 minutes from Children's, and central to everything else. There are houses for sale now in your budget, it's a very safe area, and is in its own school district.


Here's an example:
https://www.sibcycline.com/Listing/C...rnard-OH-45217
That's a nice house for the money.
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Old 11-08-2017, 01:38 PM
 
Location: 45237
245 posts, read 270,961 times
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Cali2Cincy If I might ask. What street is the house on that you are considering? I grew up on Andina.
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Old 11-08-2017, 03:48 PM
 
14 posts, read 15,262 times
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Quote:
Originally Posted by jmecklenborg View Post
Single-family homes in the Cincinnati area are pretty much the cheapest in the United States. There are tons of 2-3 bedroom homes built between 1900 and 1950 ranging between 1100 and 1500 sq feet that sell for $110k or much less. If you can't afford a small house here you can't afford one anywhere else in the first world. Literally.

Somehow people raised large families in all of these 2-3 bedroom houses with one bathroom 50-100 years ago. Now people can't seem to make it happen and pay a huge premium not just in their purchase price but in ongoing property tax to live in a "true" 3 or 4-bedroom. They do it mostly to impress people they don't even like.

Don't overpay for a house that has a spare bedroom for visitors. Paying for a hotel a few nights per year is way cheaper than the long-term cost of a larger home. It's like owning and driving a pickup truck all year for those 2 times when it comes in handy.
I do agree with that. I'm not so much concerned about the visitors as I am the kids. I just want at least 3 bedrooms so each can have their own room (since one is a boy and the other is a girl, and also because I don't want them keeping each other up all night when I work and study from home 20+hrs/wk). Not looking for a spare bedroom at all, just enough rooms so the kids have a place for their things and it doesn't overwhelm the rest of the house. Honestly, I could care less what people think about me or my home! Not out to impress anyone. My guests will be sleeping on the couch or my kids will bunk together for a few nights and they can sleep in a kid's room. If they're not okay with that, then they shouldn't be my guests! Our home now is less than 700 sq ft with one bathroom. But, that's difficult when you have two adults and two kids... my son has had to pee outside many times because the restroom is in use! Not as easy with a girl though. So two toilets would be nice. Obviously if we can't swing that in a safe neighborhood, we'll survive. I appreciate the input!
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Old 11-08-2017, 03:52 PM
 
14 posts, read 15,262 times
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Quote:
Originally Posted by h Steve View Post
Cali2Cincy If I might ask. What street is the house on that you are considering? I grew up on Andina.


Rhode Island! https://www.realtor.com/realestatean...-90125#photo25

We've let it go after reading this thread, but I'm curious to see what you think of that street/area.

We've realized we can realistically stretch our budget to the $130k-140k range and there are some beautiful homes at that price in golf Manor, pleasant ridge and mt Washington (which no one here recommended, but I read on another thread is a great family area). After looking into the schools and the safety of the neighborhoods, I think that's the right choice.
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Old 11-08-2017, 03:54 PM
 
14 posts, read 15,262 times
Reputation: 23
Quote:
Originally Posted by CinciFan View Post
I would seriously consider St. Bernard if I were you.


It's 5 minutes from Children's, and central to everything else. There are houses for sale now in your budget, it's a very safe area, and is in its own school district.


Here's an example:
https://www.sibcycline.com/Listing/C...rnard-OH-45217
It's safe even thoUgh it's only 5 minutes from Children's? I've heard anywhere that close to Children's is a bad area. That home is beautiful, will definitely take that one into consideration and will start looking at St. Bernard as well. Thank you!
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Old 11-08-2017, 04:01 PM
 
14 posts, read 15,262 times
Reputation: 23
Quote:
Originally Posted by Chemistry_Guy View Post
Just a few observations I've accumulated watching people own and rent in the Cincinnati area over the last 20 years or so:

-The relationships between selling price, cost of ownership, location, and utility (or size, if you prefer) are very complex and nonlinear. a 100K house can end up costing more annually than a 150K house, as mortgage payments are only part of the picture. I know it sounds backwards, but you can end up paying a premium for the "privilege" of buying a lower priced house. Pay attention to insurance costs.

-Moving is a massively stressful and the transaction costs for selling a house and originating a mortgage are particularly high for modestly priced houses. I would not buy a house if I didn't plan on staying in it for 10 years.

-In the less expensive Cincinnati and inner ring suburban neighborhoods, there is a huge difference between the 100-110K and the 120-140K houses. In Madison Place, for instance, there are some 130K houses that are absolute bargains and 110K houses that are truly dumps. It would take 50K+ to renovate the 110K house to be anywhere close to the 130K house. With good credit the money is a whole lot cheaper for the mortgage than a home improvement loan 5 years down the road.


I greatly appreciate this input!! This is exactly what we've come to realize over the past few days. I've been paying close attention to property taxes and trying to calculate insurance as well. I said $120k as a rough estimate, but I've now seen $140& homes with the same monthly fees as $120k ones in other areas. We've decided to stretch our budget a bit to accomodate a nicer home with better resale value and livability long term. We were planning to stay in this home the next 7-10 years. We have very good credit and we can swing a home up to $150k, we were just trying to find a home for as cheap as possible so we don't have to take out any loans when I go back to grad school. But I'm starting to realize the benefits of stretching the budget a bit more long-term. Glad to see that thought process validated. Thank you!
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Old 11-08-2017, 04:03 PM
 
14 posts, read 15,262 times
Reputation: 23
Quote:
Originally Posted by zach_33 View Post
I think you are getting some good advice on this board. I haven't lived in the area for a couple decades but I still have family there and visit at least once a year. I would second Deer Park, Norwood, maybe even Silverton or Kennedy Heights (?) - Pleasant Ridge is probably > $120 for 3 beds, but also a great idea. I used to live very near this house and while its on a busy thoroughfare, its a solid, family friendly area.

https://www.trulia.com/property/4544...nnati-OH-45236
I actually have that one saved! Glad to hear it's a family friendly area. Will have to look into it more. I've heard there are some really bad parts of silverton - is that true? If so, any particular area you'd recommend looking into? I haven't heard of Kennedy heights yet but I'll look into it! Thank you.
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