Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Hampshire
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-15-2021, 02:43 PM
 
36 posts, read 41,360 times
Reputation: 88

Advertisements

Hello Granite State City-Data forum!

My family and I are moving to NH at the end of the summer and I just started looking (Zillow/Craigslist recon) at places to RENT. We are not in any hurry to buy even if the market keeps going up – I'm looking forward to being the tenant for once (I own a few rentals myself plus our primary so I do a lot of "fixing")

I am pretty familiar with the towns we would maybe move to (pretty much anywhere between Concord and Nashua), and don't really need any advice per-say, but man the low inventory is crazy even when you zoom out! This includes even 2 bedrooms as we have 2 small kids who could share a room.

Has it always been this way? Some articles suggest yes, NH has had a building lull since the great recession. I am sure there has also been an inflow from other places this year putting pressure on housing. Prices are comparable to where we live – almost to the dollar per SF – but the inventory difference is bonkers! Especially for single family homes. We would live in an older/small/dated house no problem there just are hardly any to consider. We would also live in a multi-family if we had to, but not ideal with screaming kids and a dog who barks at the wind.

Just wanted anyone's macro thoughts on this since I'm generally interested in local economics. Thanks in advance for any responses and we are truly looking forward to making NH home.
Reply With Quote Quick reply to this message

 
Old 03-16-2021, 11:51 AM
 
Location: WMU D1, NH
1,093 posts, read 1,064,389 times
Reputation: 1887
Nothing really to offer other than it was this way last Summer when I was moving as well. The inventory wasn't horrible in the southern part of the state, but further north it was rough. I wanted to rent no further south than Concord and no further north than Berlin so I could set up a base with which to leisurely search the area to buy/build a home.

My after work activities consisted of living on the Zillow, Realtor, and Trulia apps as some update at different speeds. I lucked out renting a great little SFH by Squam lake for slightly more than $2K a month. It checked all my blocks except for cell coverage(0 bars here). The area is a bit ritzy and touristy for me, but the location gave me an ideal base and the homeowner(landlord) is great. I contacted the listing agent directly within an hour of it popping up on realtor.com. Essentially went to her company's website where it had her direct email and shot her a note. That evening I had an application in my email and the next day I had an approved application.

I obviously didn't want to pay that much to rent, but SFH rentals were almost non existent and those that did appear disappeared quickly.

I've moved around all my life as part of my career and have never had a problem finding a suitable place quickly. This was the hardest move by far. Looking back on it, I should have also browsed each major company's website to see their listings before it hit the MLS creeping apps.

My question from last year on rentals with a couple of responses indicating it was difficult then too. https://www.city-data.com/forum/new-...entals-nh.html
Reply With Quote Quick reply to this message
 
Old 03-17-2021, 06:15 AM
 
464 posts, read 313,584 times
Reputation: 876
Hard to find supply because it’s often times not worth renting out your house. You still have maintenance and property taxes, have to charge enough to clear that and make it worthwhile for yourself. Then you have potential bad tenants, damage, etc. if they stop paying rules make it favorable for tenants and hard to get money back and get them out.

OR you could just live in your house or sell at a great price in the current market. Not that hard of a choice.
Reply With Quote Quick reply to this message
 
Old 03-17-2021, 10:53 AM
 
36 posts, read 41,360 times
Reputation: 88
Quote:
Originally Posted by Reilly1017 View Post
Hard to find supply because it’s often times not worth renting out your house. You still have maintenance and property taxes, have to charge enough to clear that and make it worthwhile for yourself. Then you have potential bad tenants, damage, etc. if they stop paying rules make it favorable for tenants and hard to get money back and get them out.

OR you could just live in your house or sell at a great price in the current market. Not that hard of a choice.



Reilly I hear you on this. Most people who do rent a primary residence are not savvy enough with the actual costs of owning a rental. 50% of your gross rents over the long run go to taxes, insurance, repairs, maintenance, capex (big ticket future costs like roof,furnace) and vacancy. If they have the 20% or less equity original loan on a house they paid market retail, the above costs plus loan interest basically wipe out the majority of gross rent. If you've owned the home for many years and then convert (and refinance at that new lower balance) that's really the only way you make any money.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Hampshire

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top