Looking for buying advice Marion Oaks & USDA Loan (Miami: rental, HOA)

[kgallowaypa]

Hello everyone, been lurking here reading threads but I believe now is the time for me to write my own.

My brother (mid 20's) relocated to Ocala around February 2017 with a good job offer and ended up buying a home in Marion Oaks. He got a new construction 3 bed 2 bath in the newer development quadrant. Overall the house is great and perfect for what he needed with his girlfriend moving up in January 2018. He seems very happy with his choice living in Marion Oaks and has only said good things.

Fast forward to November of 2017 I myself got an offer for a company here in Ocala and took the plunge from Miami and relocated myself. Essentially following in his footsteps renting from the same landlord he did as he was waiting for his house to be built in Marion Oaks. As of December 2017 I now live in Summerfield for the time being and getting ready to get my own home.

My family consist of myself in my late 20's , my girlfriend of the same age, and our 6 year old son. While my girlfriend and son stay in Miami until the school year begins again in August of 2018, my task is now to find a good starter home for us to get acclimated in. I personally love Ocala and its the breath of fresh air I wish I had living in Miami. Needless to say my girlfriend, being from Miami and used to developed and overcrowded, does not like Ocala and when I pitched her Marion Oaks and when she came to visit, did not like the area only because it seemed underdeveloped (One road, no median dividers, no sidewalks, etc.) Overall she did like my brothers house but the area was a set off for her. Without getting into "Family Matters" and opinions. I can understand she wants something more urbanized than Marion Oaks, but doesn't want to live in the heart of Ocala city. Another factor we are looking at is the Elementary Schools for us to place our son in. We got a good lead on Dr. N H Elementary and have a few more options but want to preferably be a reasonable commute to his school (Think 10-15 minutes drive, not excluding highways) Which leads to our options.

The budget we have is between 150-200k for a house new or already established. Lot size is not a huge factor but ideally at least .25th of an acre. House size must be at least 3 beds 2 baths, and not a fan of living in trailer park deeded. I personally want to be able to have a new house like my brothers style in Marion Oaks with the reasonable ability to set it up as a rental property in 5-7 years time. Our loan will be part of the USDA Single Family Guaranteed program which allows 0 percent down-payment but limits where you can can build (more rural areas..oddly Marion Oaks still falls under this program): https://eligibility.sc.egov.usda.gov...lcomeAction.do As someone who doesnt really know this area that much but wants to live in a little more urbanized area, according to the map (Ideally more west closer to 75) what are your thoughts on towns to check out? We have a builder in Marion Oaks that can get us the same house my brother has for 141k with 00 down thanks to the USDA program. We checked out the Marco Polo HOA but found that they were a little out of budget and might be harder to rent due to higher mortgage costs.

Main questions to be answered:

1.) If you want to enroll a child in a certain school in Ocala, do you need to live within a certain mile radius from the school or is it based on eligibility factors? Miami was based on distance from school to be accepted.

2.) On using the USDA loan, what are some areas near Ocala that would be worth searching for a builder? Marion Oaks we have a contact, any ideas up north or North west of Ocala central? Fellowship / Belleview / Kendrick / Shady / Oak /Martin / Anthony I have heard that northern Ocala is very under developed than southern Ocala from my brother.

3.) Based on experience, Is there a selection based on 150-200k budget to accommodate a purchase in a more developed area of Ocala?

4.) Any advice if you could do it all over again based on insight from living in Ocala for some time.

Any thoughts would be greatly appreciated. The builder also has lots in Silver Springs Shores but after review, we feel its best to stick to Marion Oaks. Thank you!

[dontaskwhy]

Question 1: Students go to public schools based on which district they live in. I don't know for certain which elementary, middle and high schools are are in Marion Oaks district, but a realtor could easily help you.

Some areas of Marion Oaks are a little rough. The Northern section is newer and generally nicer.

[Dax13]

As a side note, I'm not sure a USDA Rural loan allows for a rental property. I believe they are Owner-occupied only.

I could be wrong
Dax