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Old 01-30-2012, 04:54 PM
 
91 posts, read 172,955 times
Reputation: 24

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So it seems I've received a lucrative job offer and this is coming from someone currently using public assistance! Thank God. Now, the question is, what kind of place should I live in? I have student loans and other obligations to family, so I don't want to go crazy. I have heard people advising against buying homes and saying people should rent, because there is going to be another economic collapse and homes will become worthless again. However being that apartments begin in the $1000 range in Danbury, even if later on it does devalue I'd rather put away $1000 a month and have a house out of the deal.

So, rent or own? And if I own should I look at foreclosures in Danbury? I saw some online around Candlewood Lake. We are a young family, it's my husband and I and our newborn son. What's the downside of foreclosures?

We are also Muslim, and in the absence of halal markets we are wondering what the kosher scene is like in Danbury. I tend to be a hippie when it comes to food in general, so any organic/natural foods stores would be great.

Thanks in advance for your advice.
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Old 01-30-2012, 07:04 PM
 
Location: Coastal Connecticut
15,415 posts, read 19,186,642 times
Reputation: 3608
Good for you. Do you live in Danbury now? The job is located in Danbury?
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Old 02-07-2012, 11:49 AM
 
91 posts, read 172,955 times
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Quote:
Originally Posted by Stylo View Post
Good for you. Do you live in Danbury now? The job is located in Danbury?
No I dont live in Danbury, the job is located there.

Anybody???
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Old 02-07-2012, 11:59 AM
 
Location: Coastal Connecticut
15,415 posts, read 19,186,642 times
Reputation: 3608
It's not a bad time to buy if you plan on staying there for 5 or more years. The downside of a foreclosure is that you're at the mercy of the bank and it can be a frustrating and drawn out process. I also believe you need sparkling credit and a sizable down payment.

Otherwise, there are plenty of reasonable choices in the area. Tell us a little more of what you like. Tight neighborhoods, woods/rural, stuff to do, how long of a commute you can take, budget for renting, etc.

Impossible to make suggestions otherwise.
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Old 02-08-2012, 06:03 AM
 
Location: Connecticut
26,445 posts, read 42,379,981 times
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No one knows with any certainty knows what the real estate market or our economy is going to do. Over the years I have heard many people predict the end of the world only to be proven wrong. It is unlikely that there will be a major collapse in real estate prices since the economy is improving.

That said I believe it is too early for you to be thinking about buying. It is however a good goal. You need to get your finances in order and get settled in your new job. Once you are certain the job is working out well and that you are familar with the area, then you should consider buying. Try to find a nice rental for now near your job and see how it goes for at least 6 months. This of course is my opinion and you and your husband need to talk further about this. Good luck and congratulations. Jay
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Old 02-08-2012, 06:27 AM
 
19 posts, read 62,912 times
Reputation: 13
I agree with Jay that it is probably best to rent now. Since you are a small family, you should be OK in a 2-bedroom, and you can put away the money that you are saving on housing to buy a place later. Danbury has decent natural/organic stores. There's Trader Joe's on Mill Plain, Chamomile on Newtown Road and the local grocery stores like Shop Rite and Stop n Shop have a decent organic selection (Shop Rite in Brookfield is actually excellent). Also, Whole Foods near the mall will be opening soon, and there are many local farmers markets that start up in the spring. There are also a lot of farms that offer CSAs.
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