Single Mom moving to RI - a bit confused. (Providence: to rent, homeowners insurance)

[confused44]

Hi. Hoping you all might be able to help me. I am a single mom relocating to RI area from NY to purchase first home for my son and I. While I make a decent living, I am self-employment and limited to taxable income on paper. Having started my business just over 2 years ago, 2007 return was pretty low. Thus, limiting my buying power. With that said, I'm looking for the best combination between affordable and safe neighborhood for my 11 year old son.

Just started the home search and it seems that most of the towns that have housing in the price range ($150K or so) are "so-so". Some having areas that are better than others, though I'm trying to figure out the boundries.

If any of you could assist in providing names of comparable towns to consider it would be most appreciated. Currently considering Warwick, West Warwick, Coventry, East Providence and looked through Woonsocket and Pawtucket but am leary of the last two. If I'm missing something important with any of those towns that should make me cross them off the list, please don't be shy about saying so.

Have also glanced through the town and through listing in Johnston & Cranston but know next to nothing about the towns. Don't think I can afford many of the other towns mentioned such as Barrington, etc.

Generally I am a city girl at heart, so I would like to be in close proximity to Providence but not familiar enough with the area to consider buying there. Not looking for nightlife or any type of fun factor. Just a cozy little cape in a decent/relatively safe community.

Any suggestions? Any of the places above to stay completely away from? Any help from locals would be GREATLY appreciated.

FYI - before anyone asks why the move to RI. I have some family there and in MA...the home we are renting in NY is being sold this year, I have a housefull of pets which makes it very difficult to rent with and to purchase here we are looking at around $500k with yearly taxes of $10-11k. So, that's not an option. Just looking to stay in this home until my son is off to college, in which case I'll be off to purchase a condo in the city. :-)

Forgot to add, my business is currently an S-Corp in NY. I have been getting conflicting information about how RI treats small businesses and that MA is more friendly to similar business structures. If anyone here is self-employed and has any information on that, it would also be a great help. Would hate to know that I could have gone 15 miles east and saved myself a ton of hassle and $ with regards to my business. Thank you!!

[mikey2]

Well, I lived in Coventry for over 20 yrs and I'd recommend that area. The schools were decent, and it has a rural feel to it but you can get to Providence in about 20-25 minutes.

My son bought a cape last year for about 170K and there must be some property available for less now.

There is no way I would live in Pawtucket, Woonsocket, or Providence....especially if you have a child and have to consider school systems, etc.

Mikey

[imgdoctor]

RI is not good for small business. That is why RI has the highest unemployment in the country - 10% as of Dec 2008. Most of it is due to small businesses going out of business. RI public school system is one of the worst in the country. Honestly, for 150K I dont think you can get anything decent in an acceptable neighborhood. My advice - look in MA. Much better off with the economy and unemployment. As to schools in RI, Warwick Toll Gate district is the best in Warwick. Lincoln is also good. North Kingstown is good but far away from the city.

[confused44]

Thanks to both of you for your replies.

Mikey, kind of got that impression of Pawtucket and Woonsocket. Will entirely cross them off the list.

As far as pricing. I've been watching the market very closely since last summer and prices have come down considerably. In all the areas I listed there are homes in the $100-125K range even. Have 20% to put down and another 20-25% in savings - not including retirement, IRA, etc. Technically I can go up to $175k based on my "documented" income for mortgage approval purposes, but the way the market is still declining, I'd rather not. As I feel like in this market it's almost like driving a car off the lot...it's already worth less than you paid for it. Had I planned to retire here, that would be fine, but since I plan to move in 7-8 years, doesn't make much sense. Just looking for a little cape in a decent neighborhood. I know I can find what I am looking for in Coventry, Warwick and West Warwick for sure, just didn't/don't know much if anything about the neighborhoods.

Totally forgot to mention the school situation. I am aware of the school system. Certainly not a plus of moving to this area, especially since we are currently in one of the best school systems in the country. I plan to enroll him in catholic school as from what I have been told even the best schools in RI will still pale in comparison to the district we are in now. Though I must confess, determining the most suitable parochial school is not something I have experience with either. I'd hate to enroll him somewhere and find out this school was not much better than the public schools. Though before I can start that search, I need to know the area we'll be living in.

My business is based online, so I'm mainly concerned about taxes, etc. and from what I googled quickly after making this post, it was easy to find that you are right Imgdoctor, RI is the worst. I found that NY is currently ranked 48 with RI ranked 50 in terms of being the most friendly to small business. Though MA was ranked 34, which is considerable. Any recommendations for comparable areas on MA?

Imgdoctor, I started looking in Mass but most neighborhoods I've glanced at were more expensive, or wayyyyy out in rural areas. Do you have any recommendations in MA?

[Rnrboy]

I'm so tired of hearing this bologna about Rhode Island having the "worst school systems". In New England? It's possible, MAYBE.

In the country? Well, have you ever been down South? Seriously, people just toss this stuff around without citing any evidence whatsoever. The evidence I've found always conveys that there are a lot of improvements to be made, but standards in the Northeast are higher than much of the country. The Rhode Island school system is certainly better than Florida overall, I can tell you that hands down.

[confused44]

Rnrboy, Sorry to have struck a nerve with you. Not sure if it was my post or not, but I certainly wasn't trying to insult anyone by comments made with regards to the school systems. I agree with you, I have family in Florida and lived there myself at one point in time and went to highschool there. The schools were horrendous. Overcrowded, low test scores, lack of funding to the point where students had to SHARE textbooks and teachers that spoke to the students like gum on the bottom of their shoes. My brother's teacher would call the class "idiots" and tell them all to shut-up all the time. Horrible.

With that said, if you have anything constructive to add about the RI schools or any neighborhoods that may fit within my budget, I'd like to hear your input. :-)

[mikey2]

As far as Catholic schools go... Coventry has St. John and Paul, which has a very good reputation and they've put a lot of money into the school and parish recently. A lot of young families belong to that church.

Just be aware that the vast majority of Coventry residents keep their children in the public school system, even though many could easily afford to send them to St. John and Paul. That is especially true for K through 6th grade.

Also be aware that not all areas of West Warwick are particularly good...so you really have to be careful there. St. Joesph's would be one parish that has a school in West Warwick, but I really liked St. John and Paul much more.

You really need to see these areas up close and personal, to see what fits best for you.

As a life long resident of R.I. my bias is for towns like Coventry, North Kingstown, Cumberland, Lincoln, Smithfield, North Smithfield.

Mikey

[confused44]

Thank you, Mikey! Very much appreciate the candid way in which you speak. Okay, so that says a lot to me. If the folks can afford the tuition yet still send their kids to the public schools there must be a reason. Though my son will be in 6 grade. Are the high schools not as highly regarded?

I have found many affordable home options in the Coventry area and Realtor recommended this town as well. However, I much prefer to get a non-biased perspective.

I have been to visit in the last 6 months 3 times. Just day trips mainly. What I noticed was in a few towns, some little niche areas were cute but then there were equally as many not so cute areas. This is the vibe I got from West Warwick as well. But Pawtucket and Woonsocket especially. I'm a sucker for quaint towns with historic elements so sometimes it's hard for me to distinguish between the quaint "old" charm and just the old and rundown.

I did find parts of Warwick nice, but didn't take good enough notes about the specific areas. Originally I though Coventry was "too far" from the city, but really that's a silly thought given the size of RI in general. I will look more at the listings I am being sent in the Coventry area. Will also explore the other towns you mentioned, though I do recall checking them out when I first starting looking and I *think* I ruled them out due to cost. Perhaps maybe I can scout around and be lucky enough to find something in my price range with the housing market the way it has been. I'll check again.

Do you know of any good websites that will give more information about these communities?

[confused44]

Oh...what is the homeowners insurance like in Coventry? I have tried to get quotes from the Ins. company and they say they can't give me anything without an actual address. Just wanted to get an idea am I looking at around $500, or $1500, etc.

Thank you!

[mikey2]

Your homeowners insurance should be around $1000 a year (a rough estimate). But make sure the roof on the house you are buying is fairly new. The insurance companies I was dealing with were killing me because my roof was old. My bill was literally cut in half, once I had a new roof put on.

There is only one high school in Coventry and of course, it's quite large (around 2000 students)....and there's always going to be issues.

My younger son did quite well there, had a good group of friends (for the most part) and was accepted to at least 3 of the colleges he was interested in.

I think if you're involved with your son and keep an eye on what he's doing (as he gets older) and who he hangs out with, he'll do fine.

Mikey