Where to look for a house next week (Phoenix, Scottsdale: for rent, mortgage)

[UpstateBound19]

We're getting more serious about my taking a job in Phoenix. My wife and I are flying out there for a few days next week. We've rented a car and plan to visit some areas in the east valley that we might consider for a home. Any input about areas/communities to visit? It's always fun to read feedback in this forum, so thanks upfront.

• Budget of $400K or under for purchase, $2500 per month or less for rent
• Zoned for good schools; we have kids in elementary, middle, and high school
• We really need 4 bedrooms and 2000 plus sf
• My office will be in east Scottsdale near East Via de Ventura
• But my work hours are somewhat flexible so I can usually pick my commute times
• We don't need to be close to nightlife; more interested in rec sports, gyms/YMCAs, and basic shopping

So far we've thought about seeing Fountain Hills, Chandler and Gilbert near 101.

Any less obvious neighborhoods that might be closer within Scottsdale, Paradise Valley, or north/northeast PHX? I was thinking maybe adding Thunderbird or Moon Valley to the list. TIA....

[john3232]

The closer to work the better or at least not too far from a freeway entrance. Even the off-hours traffic can be busy.

Given what you plan to spend on buying or to rent the local schools should be good.

[DetroitN8V]

You definitely don't want to commute from Chandler or Gilbert. $400k will be tough, especially for a 4 bedroom within a reasonable commute from your job. Fountain Hills may be doable (it's a bit cheaper than Scottsdale, but not by too much) although I don't know if it's a great place for young kids and the drive down Shea will get old. Maybe see if you can find something close to your budget in 85254. Sorry, for the buzzkill. You're going to be pretty limited in terms of buying given your job location and budget.

[AZJoeD]

Based on your criteria the greatest collection of homes will be in Chandler or Gilbert. Neither is a great commute. You might get lucky and find an older home in Tempe or N. Phoenix. You will be unlikely to find anything in Scottsdale or Fountain Hills. Moon Valley would be a nightmare commute.

I just saw a nice 4BD/2.5BA/2CG 2200 sq in N. Phoenix 85024 for $350K. Close to the 101, PV schools. Not a great commute, but doable.

[asufan]

Chandler isn't exactly flush with sub $400k houses that meet the OP's criteria either. I think a long commute may be tough to avoid.

[phx1205]

Probably need to up your budget to $500k to find something halfway decent that is reasonably close to work. And you definitely want to be close to work. No sense in uprooting your family to move out here and then spending potentially 90 minutes - 2 hours (round trip) per day in your car. That’s what you would be doing if you look at Chandler/Gilbert/N Phoenix/Moon Valley.

[UpstateBound19]

I’d really like to purchase because we haven’t owned a home for several years now. My head tells me it would make more sense to rent at first. Especially since we have little familiarity with the region. Then again, once I get my kids settled, I’m not going to want to move to another school district after a year or two. Whether we rent or buy, I’m hoping to pick a community and stick with it.

I don’t think it would be wise to stretch our budget to more than $2,500 per month. But we’re also not going to accept being in a poor school district. So I guess we will have to compromise on size or distance. I knew that something close to the office would be difficult. A longer commute may be bearable because I can telework at times. I would only have to come into the office to meet clients or at my own discretion. Closer is definitely better, but we don’t have too much wiggle room on price.

But speaking of price, if you keep housing costs around 25% of the household budget, $2,500 per month equates to $120,000 of household income. Is that not considered comfortable in PHX?

[AZJoeD]

I am going to make one more suggestion. You seem to be locked into a price point. But if you haven't taken this step, I would suggest that you speak to a qualified mortgage loan officer to verify your qualifications. Mortgage rates have dropped and lenders are being very competitive. You may find that you can afford more than you think. Even $25K might make the difference to where you find a home.

It won't cost you a dime and it may help you decide. They will be able to tell you how much you can afford, the size of your payments and your upfront cash requirements. Feel free to contact me for a referral if necessary.

[fluffythewondercat]

Is there some reason why you're not looking at South Scottsdale? (Schools, maybe?)

[DetroitN8V]

How is it that you’re comfortable paying $2500 in rent, but you’re limiting your purchase price to $400k? I obviously have no idea what you’re able to put down, but a $2500 mortgage should buy you more than $400k.