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I'm thinking of buying my first townhouse but can only afford up to $100K. Any suggestions on good neighborhoods in the North or Northwest part of Raleigh? I recently spoke with a realtor who printed out a bunch of listings. There are a lot in the Bent Creek area, which I have read isn't a very safe neighborhood. Is that still true? Due to the economy I know all homes have lost their value so I'm not concerned about that right now.
Other areas I was looking at was Autumn Chase and Riverbirch.
I don't want to discourage you, but if you can only go up to $100K, the selection of townhouses in North/NW Raleigh is going to be limited. You might find something but it could be in terrible shape and need a new furnace, new plumbing, etc.
If you could go up to $125K, there are a few more options in neighborhoods you might like better. Can you cut back on any expenses (cable, travel, entertainment)? Can you rent out a bedroom in the townhouse to a roommate?
I sold a few townhomes in Bent Creek but it has been at least 10 years. It was a nice n'hood back then. Are you going on heresay or have you checked the crime stats? Driving through the n'hood and speaking with the homeowners may get you some answers, as well.
How about Pecan Townes? Green Park Townes? Ridgeloch?
The reason I'm staying under $100K is because I don't have enough money for a 20% downpayment and I need my mortgage (including taxes and HOA) to be around $600. I work for the state and have been on a fixed income the last 4 years.
I drove thru Bent Creek yesterday and the homes looked very run down. The paint and vinyl on all the houses were faded and the blinds in most houses looked old and some broken. For $140/mo in HOA fees you'd think they'd repaint and keep up the neighborhood better. That's a lot of money for not seeing much improvement. Makes me wonder what their spending the HOA fees on.
I was basing the crime and value of the homes on posts from people who said they lived in that area or tried to sell homes recently. I'd rather not have a roommate. Guess I'll just keep renting for now. I'd rather keep renting until I can afford what I really want.
May not be your first choice area, but there are a couple at Addison Reserve.. they aren't that old and the homeowner dues are low. Near Capital and Perry Creek.
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