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I have recently received a position at UK hospital and will need to move to Lexington from South Carolina by mid June. I am planning on buying a house in the area; however, there is the possibility that I will have to sell/rent in three years. Hopefully I will be able to stick around but can't say for certain.
My main concern is finding a property that we will be able to sell if necessary in three years and need some advice. I think that the S and SE is probably the best location for my preferences, though I have looked into Masterson Station even though I don’t think I would get the yard I desire there.
-Where you are working: UK medical center
-How much you are willing to spend on housing: I think I will be looking at the 175-200K range.
-How long of a commute you're willing to tolerate: Optimally, I would like to be as close as possible but I could tolerate 20-25min. I will probably be doing most of my commuting around 6am and 6pm so hopefully I will miss the worst traffic.
-If you have kids: Private school or public school? No kids. School district only matters if it makes a difference in our ability to resell/rent in the future.
-What type of neighborhood environment you are looking for: small town feeling? small city excitement? suburbia delight? I definitely prefer the older, more established neighborhoods. Where ever we live must be walkable as I enjoy walking my dogs and running. I currently live in a very small neighborhood that is not walkable and do not like it at all. I also like being close to shopping and restaurants.
-Community amenities important to you: Don’t care about the pool, club house etc. I do like the idea of having a park/dog park within walking distance, however.
We have 2 dogs so having a fenced in yard is a must. We also prefer larger, more private yards.
I definitely prefer older neighborhoods vs. the cookie cutter subdivisons but will live in a newer subdivision if it was a desirable location and the house was right for us.
I do not want a fixer- upper, older house. I will not have the time to fix it up. Although I like the charm of older houses, I think that I would prefer a newer house at this time. From my research, it seems as thought I might need an older house in order to have the yard that I want in my price range.
Thanks for any input. I plan on making a trip up there in the next few weeks to get a better feel for the neighborhoods and start looking for some houses.
Southland fits all of your requirements other than age of houses - however, Southland houses, mostly built in the 1950s, are well-maintained brick and stone, and include hardwood floors, fireplaces, plaster walls and other amenities. Many are more solidly built than much new construction.
Southland houses typically are Cape Cods and ranches, usually three or four bedrooms, with separate garages, fenced back yards, lots of trees, and two parks plus shopping, schools, and churches nearby (for resale value). It would take you less than fifteen minutes to reach the UK Hospital at 6:00 a.m. unless a major snowfall occurs.
I'm definitely looking into Southland and so far it is one of my top locations. I hope more properties come on the market because there are not many right now. There are two that are 3B/1B which isn't an issue for me and my husband but I think it might affect resale in the future.
The age requirement isn't set in stone. My major concern is the ability to possibly resell in 3 years (hopefully not) so I am more concerned with location, floor plan and no weird things that could potentially turn off buyers in the future.
I'm also concerned about buying in an unfinished subdivisions due to the availability of new home competition.
Initially, I had looked into renting but the rents seemed high and it just makes more sense to buy right now with interest rates being so low. I could always rent in three years if necessary.
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