Is now a good time to buy in RI? (Warren: appointed, house)
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For a smaller cheaper house, have you looked in Swansea- Ocean Grove for example? That is very commutable for you.
Ignoring the other snotty comments here (OP, I apologize on behalf of the forum for this), this is very bad advice. I mean, want to talk about a neighborhood prone to flooding?
But in contrast to Barrington, Ocean Grove has long been considered quite "low rent". And like pockets of Somerset now (unfortunately, it wasn't always that way), you "will" get spillover from Fall River there.
Ignoring the other snotty comments here (OP, I apologize on behalf of the forum for this), this is very bad advice. I mean, want to talk about a neighborhood prone to flooding?
But in contrast to Barrington, Ocean Grove has long been considered quite "low rent". And like pockets of Somerset now (unfortunately, it wasn't always that way), you "will" get spillover from Fall River there.
It's ok, I have to get used to snotty if I'm considering Barrington BTW, I love smaller cheaper houses (in the right neighborhood and the right town). I laugh all the way to the bank when so many others have to live paycheck to paycheck to pay to support their Mcmansion and its utility bills lol
Swansea, Seekonk, Somerset, Fall River all of those definitely won't be contenders for me.
Ignoring the other snotty comments here (OP, I apologize on behalf of the forum for this), this is very bad advice.......
The Crime Creep apologizes for the forum? That's rich. Take RI real estate advice from this out-of-state fellow at your own risk. Unless you're planning on buying somewhere in rural Maine.
It's ok, I have to get used to snotty if I'm considering Barrington BTW, I love smaller cheaper houses (in the right neighborhood and the right town). I laugh all the way to the bank when so many others have to live paycheck to paycheck to pay to support their Mcmansion and its utility bills lol
Swansea, Seekonk, Somerset, Fall River all of those definitely won't be contenders for me.
We drove through Ocean Grove yesterday after buying a bag of Blount chowder in Warren. The factory store by the airport in Fall River is closed for remodeling. Clicking around on an online topo map, most of it is above 25 feet MSL. It’s not going to flood. It’s working class/middle class flight suburbs for Fall River. I personally prefer a strategy of buying the small shack in the more upscale neighborhood and remodeling but if your budget is sub-$400k, you can’t do that around me now. Around me, a small house in the upscale neighborhood that needs a ton of work is closer to $500k.
I see a ranch on Beaver Road in Barrington. On the topo map, it’s 30 feet MSL so no flood risk. 0.3 acres. 1958 build with natural gas. $379k. The property taxes are kind-a high at $5,100. It’s vintage but you could live in it while chipping away at replacement windows, kitchen remodel, mini split, and bath remodel. It’s a 15 minute walk to the Providence bus so you have a (slow) mass transit option to Amtrak and commuter rail. You could fling $100k in upgrades to that house over a few years and it would be pretty updated.
We drove through Ocean Grove yesterday after buying a bag of Blount chowder in Warren. The factory store by the airport in Fall River is closed for remodeling. Clicking around on an online topo map, most of it is above 25 feet MSL. It’s not going to flood. It’s working class/middle class flight suburbs for Fall River. I personally prefer a strategy of buying the small shack in the more upscale neighborhood and remodeling but if your budget is sub-$400k, you can’t do that around me now. Around me, a small house in the upscale neighborhood that needs a ton of work is closer to $500k.
I see a ranch on Beaver Road in Barrington. On the topo map, it’s 30 feet MSL so no flood risk. 0.3 acres. 1958 build with natural gas. $379k. The property taxes are kind-a high at $5,100. It’s vintage but you could live in it while chipping away at replacement windows, kitchen remodel, mini split, and bath remodel. It’s a 15 minute walk to the Providence bus so you have a (slow) mass transit option to Amtrak and commuter rail. You could fling $100k in upgrades to that house over a few years and it would be pretty updated.
It's hard to go wrong buying the shack in the upmarket town/neighborhood. In my town there's a neighborhood of former summer cottages (shacks) built in the 60s & 70s (crap architecture). They're being snapped up, renovated & resold for up to $5 for every $1 in renovation money. Largely estate sales. It's getting harder to do in this interest rate environment, but still happening. Buyers from NY, MA & CT are willing to pay top dollar, even for that not-so-charming little renovated summer cottage near the bay.
So you're acknowledging that RI is better than those areas? Good luck finding a cheap house in a high end neighborhood.
The basic rule of real estate is that you should have bought yesterday.
Well, it depends on the town. Barrington of course is better than any of those towns. Geoff pointed out an example of a 'cheap' home in Barrington that can be brought up to snuff.
Also, I bought way before yesterday...I've lost track but I think I'm on my 6th or 7th property in the last decade! I've owned more homes than some own in their lifetimes. It's just that its getting more difficult, as we all know, based on current conditions to buy anything else that's 'reasonable' and not into or close to the 7 figure range.
Last edited by newenglandgal123; 02-01-2023 at 05:42 PM..
We drove through Ocean Grove yesterday after buying a bag of Blount chowder in Warren. The factory store by the airport in Fall River is closed for remodeling. Clicking around on an online topo map, most of it is above 25 feet MSL. It’s not going to flood. It’s working class/middle class flight suburbs for Fall River. I personally prefer a strategy of buying the small shack in the more upscale neighborhood and remodeling but if your budget is sub-$400k, you can’t do that around me now. Around me, a small house in the upscale neighborhood that needs a ton of work is closer to $500k.
I see a ranch on Beaver Road in Barrington. On the topo map, it’s 30 feet MSL so no flood risk. 0.3 acres. 1958 build with natural gas. $379k. The property taxes are kind-a high at $5,100. It’s vintage but you could live in it while chipping away at replacement windows, kitchen remodel, mini split, and bath remodel. It’s a 15 minute walk to the Providence bus so you have a (slow) mass transit option to Amtrak and commuter rail. You could fling $100k in upgrades to that house over a few years and it would be pretty updated.
Yes, I see the potential in making that a nice, easy maintenance and updated home. Your estimate of it requiring around $100k to do so seems pretty accurate based on the following guesstimates.
new roof $12k
new kitchen $40k
new bathroom $20k
painting everything $3k
new windows $6-7k
new sheetrock ceiling in mudroom/entry to get rid of those ceiling tiles $6-7k
misc electrical/lighting upgrades $2k
The Crime Creep apologizes for the forum? That's rich. Take RI real estate advice from this out-of-state fellow at your own risk. Unless you're planning on buying somewhere in rural Maine.
OP, meet our resident slumlord. I often post about shootings and stabbings in the bad parts of Providence. This seems to upset some people who have financial interests in said neighborhoods. The result is often gaslighting and other various schemes to try to discredit me. I was hoping that these shenanigans wouldn't happen in your thread, but some people have an axe to grind and apparently can't help themselves. I once again apologize on behalf of the forum.
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BTW, I love smaller cheaper houses (in the right neighborhood and the right town). I laugh all the way to the bank when so many others have to live paycheck to paycheck to pay to support their Mcmansion and its utility bills lol 
