Overwhelmed House Shopper (St. Charles, St. Peters, Florissant: for sale by owner, real estate, 2015)

[korey729]

After years and years of renting, I'm finally ready to purchase a home. I recently started looking and the amount of information/variables involved is overwhelming. I'm sure there are several similar threads on this forum, but I would appreciate any advice anyone could send my way.

I work in St. Charles and my girlfriend works in Soulard. Our families live on the Illinois side. We have no children and would like to spend close to $130,000 if possible (give or take) on a new home. Neither of us mind a daily commute. Her job isn't so much permanent as mine is so she's willing to find new work. I'd prefer to live as close to work as possible, but housing in St. Charles is out of our range. Illinois housing seems most promising price-wise and family would be closeby, but taxes are much higher. Also, that's quite a commute.

Fire away with any suggestions. And thanks in advance!

[MUTGR]

Originally Posted by korey729

After years and years of renting, I'm finally ready to purchase a home. I recently started looking and the amount of information/variables involved is overwhelming. I'm sure there are several similar threads on this forum, but I would appreciate any advice anyone could send my way.

I work in St. Charles and my girlfriend works in Soulard. Our families live on the Illinois side. We have no children and would like to spend close to $130,000 if possible (give or take) on a new home. Neither of us mind a daily commute. Her job isn't so much permanent as mine is so she's willing to find new work. I'd prefer to live as close to work as possible, but housing in St. Charles is out of our range. Illinois housing seems most promising price-wise and family would be closeby, but taxes are much higher. Also, that's quite a commute.

Fire away with any suggestions. And thanks in advance!

Well Maryland Heights occurred to me based on a preference for closer proximity to your job in St. Charles. It would seem there are some single family homes and townhomes in your range, some obviously look better than others:

Page 2 | Maryland Heights, MO Real Estate - Maryland Heights Homes for Sale - realtor.com®

You might continue renting and figure out what area you really like the best and (hopefully) save as much as you can.

I was up in Hazelwood a couple of weekends ago and a lot of it appears to be holding up well with smaller single family homes that may be in your price range and not a bad commute to St. Charles. The trends in North County would concern me in terms of housing value increasing over time, but maybe that's stabilizing a bit, I don't really know.

None of these would obviously work well for your girlfriend's job in Soulard, but that sounded temporary anyway.

[glamatomic]

I agree with Maryland Heights. Parts of Bridgeton within the Pattonville school district may also be worth considering.

For $130k the home in those areas will definitely be a starter home but it's doable. If you can find something on the Parkway SD side of Maryland Heights that would be even better in terms of investment.

I live in Florissant- you can definitely get a lot more for your money here and in Hazelwood, but the school districts are poor, which affect the housing value and resale, and since living here we've found that the hidden infrastructure in a lot of these areas has been neglected. If I were you, I would go for a lesser house in a better area.

[RisingAurvandil]

I'm surprised you can't find a decent home for 130k in St. Chuck. Perhaps your standards exceed mine.

I'd echo the other posters: Bridgeton or Maryland Heights. If you can't find anything there or in St. Chuck, you will have to accept a longer commute or less-desirable area.

Land and good neighborhoods are more affordable in Illinois, but the evening commute on 270 across North County is slow. I wouldn't recommend it. Commuting downtown is very easy from IL, but St. Charles? Not so much. Of course, if you ever have kids, being close to family is a game-changer.

[MOforthewin]

Originally Posted by RisingAurvandil

I'm surprised you can't find a decent home for 130k in St. Chuck. Perhaps your standards exceed mine.

I'd echo the other posters: Bridgeton or Maryland Heights. If you can't find anything there or in St. Chuck, you will have to accept a longer commute or less-desirable area.

Land and good neighborhoods are more affordable in Illinois, but the evening commute on 270 across North County is slow. I wouldn't recommend it. Commuting downtown is very easy from IL, but St. Charles? Not so much. Of course, if you ever have kids, being close to family is a game-changer.

130k, St. Charles? No way. Our 3 bedroom condo in south county sold for 190k in 2015. 130k isn't going to get much for a house, sorry.

[RisingAurvandil]

Originally Posted by MOforthewin

130k, St. Charles? No way. Our 3 bedroom condo in south county sold for 190k in 2015. 130k isn't going to get much for a house, sorry.

Anecdotal. According to Zillow, the City of St. Charles has 38 SFH (2+bed) priced between 50k and 150k. Many appear to be decent homes. I'm sure that number would be higher if we include St. Peters, unincorporated St. Charles, etc.

[ryanfze55]

Originally Posted by korey729

After years and years of renting, I'm finally ready to purchase a home. I recently started looking and the amount of information/variables involved is overwhelming. I'm sure there are several similar threads on this forum, but I would appreciate any advice anyone could send my way.

I work in St. Charles and my girlfriend works in Soulard. Our families live on the Illinois side. We have no children and would like to spend close to $130,000 if possible (give or take) on a new home. Neither of us mind a daily commute. Her job isn't so much permanent as mine is so she's willing to find new work. I'd prefer to live as close to work as possible, but housing in St. Charles is out of our range. Illinois housing seems most promising price-wise and family would be closeby, but taxes are much higher. Also, that's quite a commute.

Fire away with any suggestions. And thanks in advance!

St. Charles County prices have been going up. Two years ago, I bought a house in St. Peters, and it has appreciated nicely. Good news is that you can still find property around $130K in the less desirable parts of the county. Look on Zillow. I just found a handful of houses priced between $120-150. They are small and older, but they appear fully functional and not in need of major upgrades. You may have to be flexible with the $130K number. It might help if you went up to $150K. I'm not one to encourage people to push their budgets, but interest rates are still very low. Holding out won't do you any good. I went $15K above my comfort zone, but I have a much nicer house in a nicer neighborhood. Houses are long term commitments. You'll need to be there a few years to not lose money. So if you're planning to stay awhile, don't sell yourself short. Don't focus on one price point. Make a price range based on houses that cost between 2-3x your annual income. 3x may be a little high if you have a lot of student or consumer debt.

[JanND]

I'm not in your area, but just offering some general house hunting suggestions.

What's the plan if you and your girlfriend break up? I think buying a home with someone who is not your spouse is risky. So, make sure going in that you both have the option to buy the other out.

Look at houses online as much as possible....that will help you eliminate so many in person walk thrus....which can become overwhelming and confusing.

Find a patient realtor. Don't be afraid of for sale by owners....We've done 4....the savings often is reflected in the price....so more bang for your 130,000.

Pay for house inspections, it may help you avoid a money pit.

Sit down and make a check list of your have to haves.....Don't look at anything that doesn't have your required number of bedrooms/bathrooms etc.

Make sure that you can look at fixer-uppers and not rule out good homes because you don't lie the color of paint in the bedroom.....I see so many people who bow it because they don't recognize sound structure and good bones.....and look at cosmetics instead of what matters.

Good luck, have fun.....take notes at each house tour, what you liked/didn't like etc. .....it is critical later so that you can remember the details....

Keep us updated.

[HowardTeam]

The only part of St. Charles where you can get a house in decent condition for $130k would be parts of the city (63301). Or way out near Wentzville. Maybe a couple pockets in O'Fallon. And even then, you may need to do some cosmetic updating.

Even Maryland Heights is a challenge in that range, unless you're open to a very small house or living near the landfills. I suggest the 63114 zip code, which includes Overland, Sycamore Hills, etc. Some VERY nice houses available there for less than $130k.

I currently have one under contract around $120k that is absolutely loaded with updates. Safe neighborhood, 1500sf, convenient location just a couple miles north of Clayton. There are definitely good houses to be had in your price range

[FrankMiller]

Originally Posted by HowardTeam

The only part of St. Charles where you can get a house in decent condition for $130k would be parts of the city (63301). Or way out near Wentzville. Maybe a couple pockets in O'Fallon. And even then, you may need to do some cosmetic updating.

Even Maryland Heights is a challenge in that range, unless you're open to a very small house or living near the landfills. I suggest the 63114 zip code, which includes Overland, Sycamore Hills, etc. Some VERY nice houses available there for less than $130k.

I currently have one under contract around $120k that is absolutely loaded with updates. Safe neighborhood, 1500sf, convenient location just a couple miles north of Clayton. There are definitely good houses to be had in your price range

Where would be your go-to areas for a 3BR ranch in that price range? North county and south county?