Planning a visit to Roanoke...any help? (Salem, Franklin: real estate, condos)

[bobbyandamanda03]

hi...I was hoping for some pointers on how to go about planning a vacation in the Roanoke Valley. My husband and I are planning one for Sept. of this year and are new to this (we're young and inexperianced). We want to buy a house within the nex 2-3 years and would like some advice on what to do. We're from Jersey and are undecided between Franklin/Roanoke counties in VA or Greene/Johnson counties TN. I think we're leaning more towards VA. We want a house in the 100-175,000 price range with some land to it (2-5 acres). Any advice would be greatly appreciated!!!!

[seanpecor]

Hi Bobby and Amanda,

For $175k you'll find that most of your choices in Franklin County are somewhat older brick ranches in good structural condition, and with between 2 and 5 acres. They might require some updating but aren't big projects unless you have Tweak-itis

It's my observation that real estate values in Franklin County are accelerating faster than they are in Roanoke County. This will imply that you'll be able to buy less house in 3 years than you can right now. Prices are up about 10% a year. So a $100k house bought now will cost you $133K in 3 years. If you're really planning on sticking around then one sensible mid to long term strategy would seem to me to be to buy a less desirable home on 5 acres for about $75K. Then in 3 years you've got property worth $100,000, possibly more if the land is considered sub-dividable. Right now 1 acre lots with public road frontage are selling for $25K to $45K even in this rural area of Boones Mill. In 5 acre chunks they're selling for +/- $65,000. Truly, if you can get creative and swing buying a $175K house now you'd be much better off in 3 years if you're looking at real estate values alone. Roanoke values will appreciate more slowly however they're more elevated in general than Franklin County currently.

Roanoke County is also a nice place to live and in general you'll be closer to Roanoke but there are drawbacks relative to Franklin County. One is the property tax which is Roanoke's rate of $1.11 compared to Franklin's $0.53. So if a house is assessed at $150K you'll be paying $140/month in property tax in Roanoke compared to $67/month in Franklin. Other issues are aesthetic or subjective quality of life style issues.

Sean

[CHumphries]

Hi Bobby and Amanda-
I live in Roanoke with my husband. We've got several friends from the Jersey area who have recently relocated here. (One family we know is still in the process. They've bought a home here, but are trying to get theirs sold in Jersey.) Deciding on a town to consider for relocation is a big one. I'd say a lot of the decision depends on if you're accustomed to city living or country living. I'd say Roanoke would be more your speed if you're used to having city conveniences and amenities (like if you want to be near a good selection of restaurants, shopping, social activities, etc.) Franklin County, as Sean mentioned is also a nice area, but in my humble opinion, it's more rural, a little more of what I'd consider country living. Don’t get me wrong, I’m sure it has it’s share of perks too. It's just not really my speed, but that's completely a matter of personal preference. (I moved here several years ago from Boston, so I was definitely accustomed to city life.) Anyhow...the price range you mentioned for a home is completely reasonable in the Roanoke area. To find the kind of acreage you're looking for, you'd probably need to consider some of the towns surrounding Roanoke. (Areas within a 20-30 minute drive of downtown.) I can recommend several areas that might meet your needs. I'd be happy to share some more info about my town and give you some pointers on planning a vacation here this summer. Feel free to PM me if I can be of any help! Good Luck. :-) Cari

[seanpecor]

Cari is right, if you want to live in an urban setting near Roanoke then Boones Mill or Franklin County isn't the place! Franklin County offers everything but dense urban living. It offers semi-rural, rural, suburban and small town living close to Roanoke (10 to 25 minute drive depending on where you are) with good schools and a closer proximity to lakes, and state and national parks.

I love Roanoke; my girls go to North Cross private school in Roanoke County, I do alot of business in the city of Roanoke, and have lots of friends and associates who live in or work in the city. I'm not a city person, I love what a city has to offer but I consider country living to be the best medicine for me. There's never a lack of something to do when you own a 128 acre horse farm Which reminds me that it's time to drive down to Southern States and pick up another load of fence posts!

Sean

[CHumphries]

Sean - That's one thing I've come to love about Virginia... there's something for everyone here; city folk and country folk alike.

[seanpecor]

Hey, by the way, there is still country on Long Island. I know a professor there who boards her horse at a discounted rate of only $1,100 a month on Long Island What a steal, lol.

Sean

[newenglandgirl]

Hi Roanoke folks,
I'm coming to Roanoke and Salem next week to check it out. Stopped there last summer on my way to NC. Something about the downtown I really liked. Many of the downtowns in Northeast cities are defunct and unsafe.

I'm semi retired, still have to keep working. I'm a publications specialist, working mostly freelance, and have done extensive arts/nonprofit administration. A few questions

- is it really difficult for someone like me to move to this area and, over time, gain contacts and freelance work?

- are there any BNI groups (Business Networking Int'l)

- any interesting neighborhoods that have older one-story homes with yards for gardening, close to public transp and other amenities

- any whole foods stores? community gardens?

- is Salem too isolated culturally, etc? Any other small towns that are very close to Roanoke (maybe a 10 min drive at most) that you would recommend (with lower property taxes)

- any townhouse/condos that have community gardens

- what areas should I have the realtor show me, 175K and below?

I know this is a lot to ask, but any info truly appreciated!! Leaving here on Wed. next week...

NEG