Buying a house in RI vs CT? (Providence, Cumberland: for sale, real estate)
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My husband and I just sold our house in Orlando FL and moved long-distance to RI. Originally I'm from Boston and lived in FL for the past 3 years, long story short I missed New England culture/familiarity and found better employment here. We are temporarily staying in Warren RI but our time is limited. Our plan was to hit the ground running and buy a house, or rent as a last resort. I'm disheartened to find that very few houses are for sale in northern RI, and most of them in the 400's and up. Our limit is probably 350 but ideally around low 300s. We looked at Lincoln, Cumberland, Smithfield, and Warren. The realtor we've been working with has pointed us to Thompson CT which is way too rural for us.
I have looked at Mill apartments in the Providence area but they look to be exorbitantly expensive around 1900 per month for a tiny 2 bedroom unit, not including extra costs like car rent and utilities. Even worse, many of them have NO available units until May. Even so, I would much prefer to live in burbs away from Providence. I lived in Salem MA for many years and it was perfect, and I haven't been able to find anything comparable since I left (and property values have skyrocketed).
Since we both work from home full time on the computer, we're okay with going farther out to CT but I don't know anything about it. Areas around New Haven look like prices are lower and I'm hoping more rental availability in case we're in a bind. I want to be near major shopping, grocery stores, gyms, etc but also not in a super urban environment.
We are pretty much lost with what to do next and would appreciate any insights. Thanks!
I know you said you work from home, but is that just due to Covid? Where is the company located? Is there a chance you may have to commute even 2 days a week or so eventually?
You have to consider all the costs, not just the sticker price of the house. Property tax rate. State income tax rate. Property tax on your car. Etc. Etc.
Do you care about schools? That changes the criteria considerably.
I'm afraid that low 300s are just unrealistic anymore unless you are willing to consider a very small house or condo or do considerable work on a house. You don't say anything about your criteria (sq ft needed, ranch or colonial, etc)????
Generally, northern RI has been influenced by Boston buyers and southern RI by Ct and NYC - there has been great demand and money coming from these locations lately.
Property tax on cars in RI is mostly eliminated. If you are over 65, many towns have senior property tax discounts.
Before I'd go all the way to Ct, I'd look at Foster and Glocester- both rural, but maybe not too rural. Right now, however, there is little on the market at all.
My husband and I just sold our house in Orlando FL and moved long-distance to RI. Originally I'm from Boston and lived in FL for the past 3 years, long story short I missed New England culture/familiarity and found better employment here. We are temporarily staying in Warren RI but our time is limited. Our plan was to hit the ground running and buy a house, or rent as a last resort. I'm disheartened to find that very few houses are for sale in northern RI, and most of them in the 400's and up. Our limit is probably 350 but ideally around low 300s. We looked at Lincoln, Cumberland, Smithfield, and Warren. The realtor we've been working with has pointed us to Thompson CT which is way too rural for us.
I have looked at Mill apartments in the Providence area but they look to be exorbitantly expensive around 1900 per month for a tiny 2 bedroom unit, not including extra costs like car rent and utilities. Even worse, many of them have NO available units until May. Even so, I would much prefer to live in burbs away from Providence. I lived in Salem MA for many years and it was perfect, and I haven't been able to find anything comparable since I left (and property values have skyrocketed).
Since we both work from home full time on the computer, we're okay with going farther out to CT but I don't know anything about it. Areas around New Haven look like prices are lower and I'm hoping more rental availability in case we're in a bind. I want to be near major shopping, grocery stores, gyms, etc but also not in a super urban environment.
We are pretty much lost with what to do next and would appreciate any insights. Thanks!
Rhode Island and Connecticut are both states in decline. Likely the leading edge of a similar decline in the rest of New England. And both are states with high taxes and high COL. In my opinion, neither offer satisfactory value at current real estate prices. Your budget is certainly problematic if you've got your heart set on New England, and all the more so if Salem is your benchmark. Foster/Glocester and continuing out through eastern Connecticut, is a seriously depressing area. Panic attack stuff. Unfortunately, outside of Greater Boston, New England really isn't New England anymore. Have you considered South and West?
I know you said you work from home, but is that just due to Covid? Where is the company located? Is there a chance you may have to commute even 2 days a week or so eventually?
My company is located in Boston but the office itself shut down permanently due to Covid, it didn't make sense for the owners to continue paying rent if no one could go to the office. So, everyone is remote indefinitely, and many have moved out of Mass. If I lived in northern RI I could probably make it to Boston a few times a month if they ever re-open again.
I'm afraid that low 300s are just unrealistic anymore unless you are willing to consider a very small house or condo or do considerable work on a house. You don't say anything about your criteria (sq ft needed, ranch or colonial, etc)????
Generally, northern RI has been influenced by Boston buyers and southern RI by Ct and NYC - there has been great demand and money coming from these locations lately.
Property tax on cars in RI is mostly eliminated. If you are over 65, many towns have senior property tax discounts.
Before I'd go all the way to Ct, I'd look at Foster and Glocester- both rural, but maybe not too rural. Right now, however, there is little on the market at all.
We are looking for at least 1,500 sq feet since our house in Orlando was similar and it would be hard to go smaller than that. Yeah, we had a nice house in Florida that is hard to replicate in New England for sure, but we decided that we could never be truly happy there for the the long haul due to many other factors, a house isn't your whole life. But I digress..
Thank you for suggesting Foster and Glocester, I will revisit that area again. I drove through Chepachet and thought it looked fine, but indeed woodsy.
I'm partial towards a colonial style house since I got tired of the single story house in Florida with no basement or 'real' attic. I'm excited to find a house that has a bit of charm and character again.
We also seriously considered Northern Virginia since my husband has family there, but it's not much better than New England as it has extremely limited housing inventory and homes in the 400's and up because of proximity to DC and generally affluent communities. It's a really beautiful area, but it seemed even less doable than RI or CT, judging by what I've observed so far.
We are looking for at least 1,500 sq feet since our house in Orlando was similar and it would be hard to go smaller than that. Yeah, we had a nice house in Florida that is hard to replicate in New England for sure, but we decided that we could never be truly happy there for the the long haul due to many other factors, a house isn't your whole life. But I digress..
Thank you for suggesting Foster and Glocester, I will revisit that area again. I drove through Chepachet and thought it looked fine, but indeed woodsy.
I'm partial towards a colonial style house since I got tired of the single story house in Florida with no basement or 'real' attic. I'm excited to find a house that has a bit of charm and character again.
We also seriously considered Northern Virginia since my husband has family there, but it's not much better than New England as it has extremely limited housing inventory and homes in the 400's and up because of proximity to DC and generally affluent communities. It's a really beautiful area, but it seemed even less doable than RI or CT, judging by what I've observed so far.
In CT, try looking in Middletown, Newington and Wethersfield. But taxes are high. I think you really have unrealistic expectations regarding Northern VA. You should really look at home prices online and overall cost of living.
Rhode Island and Connecticut are both states in decline. Likely the leading edge of a similar decline in the rest of New England. And both are states with high taxes and high COL. In my opinion, neither offer satisfactory value at current real estate prices. Your budget is certainly problematic if you've got your heart set on New England, and all the more so if Salem is your benchmark. Foster/Glocester and continuing out through eastern Connecticut, is a seriously depressing area. Panic attack stuff. Unfortunately, outside of Greater Boston, New England really isn't New England anymore. Have you considered South and West?
Real estate prices are what they are. Your ALWAYS going to get more house/land for your money in Podunk - unless of course, you don't want to live in Podunk. I have friends in Foster/Glocester who live deep into the raw woods & like it. For me, Route 6 thru Johnston & Foster, is one of the ugliest stretches of road in Southern New England.
As for the "South & West", consider Texas today for a peek at that state & climate change. Low taxes/low regulation equals no electricity for millions. It's as the weather warms that they'll find just how many frozen water pipes have burst. After power is restored, along with bad water, it's probably the real looming, but totally preventable disaster for Texans.
For me, Route 6 thru Johnston & Foster, is one of the ugliest stretches of road in Southern New England.
Huh???
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