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Old 12-01-2011, 08:56 AM
 
Location: Goodyear, Arizona
942 posts, read 2,519,963 times
Reputation: 432

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Hello,
We are considering relocating back to the PHX metro area and are interested in a town home/condo with 2 car garage for a max of $120,000. Any recommendations? We previously lived in Goodyear, but can't afford the neighborhood we previously lived in and would like to be closer to the airport. I'm currently looking at Copper Leaf, but I'm not familiar with areas close to the airport. This would be a primary home for us, but we own a home in another state which accounts for the low budget. Any help would be appreciated!
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Old 12-01-2011, 01:00 PM
 
Location: Raleigh, NC
19,436 posts, read 27,823,287 times
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Under the circumstances, maybe you should consider renting? At least until your other home sells and you can buy what you want. If you buy something now that is "low budget," you're going to be stuck with it for a long time, I'm afraid.

Welcome back to Arizona. And thank you and your family for your service.
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Old 12-01-2011, 01:18 PM
 
Location: Goodyear, Arizona
942 posts, read 2,519,963 times
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Not a bad idea, but we plan on paying cash for the AZ home and not selling our other home and I can't afford to spend $12,000-$18,000 for rent for a year and not decrease the cash available for a purchase in AZ. I have actually considered that renting in a questionable area would be a good idea, but I hate to spend that money......
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Old 12-01-2011, 10:00 PM
 
Location: Raleigh, NC
19,436 posts, read 27,823,287 times
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Tough spot. I'm inclined to think that unless you get lucky with a short sale, anything near the airport below $120k is going to put you in a questionable neighborhood. And don't forget about the extra costs of owning versus renting - hoa or condo fees on a townhouse, property taxes, homeowners insurance. And the emotional and financial cost of buying something that isn't what you want or in a substandard area of town. Then getting stuck with that property when you are unable to sell it.

I'd still look at renting. Subtract out those ownership related costs and figure out the return you could get from conservatively investing the $120k someplace. Reevaluate after 6-12 months.

I think you will be pleasantly surprised at the prices and quality of rentals right now.
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Old 12-01-2011, 10:09 PM
 
Location: In the Deem Hills of NW Phoenix
800 posts, read 1,910,602 times
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I agree with the rent vs. buy crowd. If $12K a year is too much to spend on rent, you may be in for a costly surprise when you find out how much it potentially costs to own, especially if it is a low-quality home in a poor neighborhood. What happens when the air conditioner, hot water tank, or roof need to be replaced? Even a single window can cost several hundred dollars to replace.
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Old 12-02-2011, 05:55 PM
 
Location: Goodyear, Arizona
942 posts, read 2,519,963 times
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Believe me, I know the cost of ownership. I just spent $10,000 replacing my roof and $8,000 replacing flooring Maybe we should rent for 6 months and make sure it's the area for us. I hate to waste the money, but, truthfully, we've never lived in an area that is not beautiful and safe, so it is difficult for me to grasp the potential problems. Perhaps, we're setting our budget too low, but living close to the airport would be a huge plus. Any ideas on where to live close to the airport if we increased our budget? I just hate to have any debt.....
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Old 12-02-2011, 06:37 PM
 
8,263 posts, read 12,195,632 times
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Quote:
Originally Posted by Jkgourmet View Post
anything near the airport below $120k is going to put you in a questionable neighborhood.
Exactly. This problem with stated parameters isn't difficult to solve, but the solution often would in the area west of the airport that is somewhat dodgy.

Maybe look in western parts of Tempe (and if okay a bit farther Chandler) near I-10. Even Chandler down near Ray is only about 15 minutes from the airport, and areas of Tempe near Broadway curve are quite close.
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Old 12-02-2011, 11:21 PM
 
Location: Raleigh, NC
19,436 posts, read 27,823,287 times
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Quote:
Originally Posted by military spouse View Post
Believe me, I know the cost of ownership. I just spent $10,000 replacing my roof and $8,000 replacing flooring Maybe we should rent for 6 months and make sure it's the area for us. I hate to waste the money, but, truthfully, we've never lived in an area that is not beautiful and safe, so it is difficult for me to grasp the potential problems. Perhaps, we're setting our budget too low, but living close to the airport would be a huge plus. Any ideas on where to live close to the airport if we increased our budget? I just hate to have any debt.....
You are not wasting ANY money by renting for 6 months. You are using someone else's property while you find the best place for YOU. Someone else used their money to give you the chance to rent their space while you make a good, educated decision. That's not debt nor is it wasted money. It's an opportunity to NOT make a huge mistake that you will regret and will probably cost you more money when you need to sell the townhouse you rushed into buying that was a cruddy choice.

Sorry if I sound rude - I sincerely value what our military people do for us, and I'll risk being thought of as a "B" to help them from making a mistake - especially one like this that really is unnecessary.
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Old 12-03-2011, 09:55 AM
 
Location: Rural Michigan
6,343 posts, read 14,681,551 times
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I guess it depends on what your definition of "close to the airport" is.

Do you need the smell of jet fuel in the morning to get you up, or is 20-30 minutes on the road ok?

Because if you draw a 20-minute drive-time circle around the airport, you get a lot of houses to pick from.

If you expand that circle to 30 minutes, it's even bigger.

And 40 minutes might make Anthem do-able - especially if your commuting time is before or after the daily "rush".
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Old 12-03-2011, 12:44 PM
 
2,879 posts, read 7,778,323 times
Reputation: 1184
Coronado Historic District is very close to PHX, but it is more on the side of the runway so the noise isn't bad. Zip 85006. Some of the zip is a little ghetto; parts are very nice. I would say buy, but spend less and have a small payment, if any. You do have to have a back-up plan if you have to move, but if you know in advance how much rent would be, and what type of people would rent--it is really pretty easy. If you are totally clueless about house matters, then it's going to be more costly and difficult, but people drive cars without knowing the simplest of repair items.

8201 N 21st Dr Unit: 102 Phoenix AZ - Home For Sale and Real Estate Listing - MLS #4668882 - Realtor.com®

only a 1 car garage, but a one car carport, too. You can take the 51, the 17 or go through town to get to the airport from here....never more than 30 minutes, sometimes 15.
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