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Old 09-12-2012, 08:58 PM
 
23 posts, read 42,179 times
Reputation: 12

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Background:
I am in the military and am about to get out in the next two years and go to school. I am about to put a contract in on a house in Triangle, VA off of Fuller Heights Rds going up into the hills near Oakmont. The house is a 5 bedroom 3 Bath. The basement has 2 bedrooms.

My plan is to stay in the basement and rent the top portion out by the room to other Military, Gov, Contractors, or Consultants.

After I finish school I plan to leave the area and rent the house out fully.

Questions:
1. Is that area a safe area? I have only been there in the daytime.
2. The area I am in is up the hills, when there are power outages how long are those houses out usually.
3. The house has a small gravel road, does the city plow it?
4. What is the future of the area? Do you see that area going up. I have heard the museum is really nice and that they are building a convention center/Hotel to support it.
5. How are the schools in that area?
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Old 09-12-2012, 09:46 PM
 
13,085 posts, read 6,246,325 times
Reputation: 10858
First of all, you mention that the basement has two bedrooms in it. Is it set up as a rental apartment? If so, is it a legal apartment? You need to be sure of that before assuming that you can use the house as a 2 family property.

As for all your other questions--- For questions 2 & 3, have you asked your realtor if s/he can answer them? A good realtor has the answers or will either look them up or tell you where you can get the info.

For safe neighborhood info, realtors are not allowed to say anything but will direct you to websites where you can research that info. The same thing with school info. Your realtor can tell you which school district you are in and can direct you to websites.

IMO, you should put off signing a contract until you have all the pertinent info.
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Old 09-13-2012, 06:34 AM
 
677 posts, read 1,019,363 times
Reputation: 603
If you look at PWC as a whole, Triangle does not rank in the upper end of the county neighborhoods at all. If anything its at the bottom end, thats not to say that its all bad but if I had my choice, thats not where I would choose to live at all. As for an investment income producing property to buy based on my limited resources, its ok I guess if your getting a real steal. Bottom line is I wouldn't live there personally. Good Luck!
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Old 09-13-2012, 06:43 AM
 
653 posts, read 891,254 times
Reputation: 1538
Just another point -- you mention you are going to rent the top portion out "by the room" as if it is a boarding house. You need to be very very careful -- that is probably NOT legal and your neighbors might have many objections. I know I sure would be the first to complain if my neighbor starting renting out rooms to multiple tenants. I would rethink this plan. Just my humble opinion.
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Old 09-13-2012, 08:56 PM
 
291 posts, read 495,682 times
Reputation: 177
I held off on saying anything and then saw that you also posted a seperate thread. While I have not been in the Triangle area in quite a few years, I will give a few comments. I knew many people in the military who lived there years ago and from their stories I would never have lived there. I do understand that some things have changed through the years but who knows. It does take some time for cleanup to happen.

In my opinion, I would not put down a contract on a house until I had done some big time research in the area. I don't know why your realtor is not doing that for you...you do have one right?

Also, here are some of the laws in PWC.

http://www.pwcgov.org/government/dep...You%20Know.pdf
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