The more I read the more confused I am..... (Tampa: for sale, real estate)

[lilred22]

Hi,
We're moving to Tampa this summer and my husband will be at MacDill, AFB. Coming in April to househunt but can't figure out where to look or whether or not to buy or rent? Have been looking in New Tampa area (good friend lives there) but am so confused. We have three kids (8,6 and 4) and would really like to live in a family-friendly area. Would also like the house to have a pool -- is that a big increase in monthly expenses? Sorry for all the questions, but I could really use some direction. Thanks!

[heatherm941]

I am not in Tampa but have also been researching the area. It really depends on what your housing budget is, many homes have pools but of course the cheapest houses are the ones who don't. Having three kids I would recommend a pool. I have also been told to look at Carrollwood and further out to Odessa and Lutz. Odessa and Lutz seem very planned community which I am sure if family friendly just a little to restrictive for us.
Good luck in your search

[lavender]

Good idea to buy a home, but only if you are at McD for a long time. Or you have to then sell (hard for a few years I think) or rent - fraught with problems if you are far away.
We had an intel officer from MacDill as our neighbors for a long time, they will retire here eventually, they loved it and had a young family at the time. However, it was a bit of a drive (35 mins approx for him daily)

[RedJacket]

Originally Posted by stpeteguy

The housing market has not bottomed. You need to wait for at least another 20% correction from current prices, then do your house buying.

There are lots of real estate pump monkeys on this forum who will tell you that NOW is the right to buy. It's always NOW according to them.

Agree and agree.

[Stewabby]

I would rent until you really got a feel for the area, I would recommend that when moving to any new area though.

For Macdill I would suggest South Tampa which is closest but it is pricey. If that is not in your price range I'd suggest Riverview which is much more easily affordable and is an easy commute on the Crosstown to Macdill.

[CrowGirl]

Originally Posted by Stewabby

I would rent until you really got a feel for the area, I would recommend that when moving to any new area though.

I thoroughly agree. I did this when I moved here and was very glad I did because I ended up purchasing in an area I would not have thought I would be interested in.

South Tampa is a great area - it's where I rented when I moved here. It's also very convenient for MacDill. However as another poster noted it is pricey. I ultimately decided that between the flooding problems, evacuation zone issues and what you get for your money, I decided not to buy there. I am in Original Carrollwood, and love it. You get a lot more for your money but are still close to downtown. It is an old community by FLorida standards and the houses aren't cookie-cutters. There are a decent number of homes with pools here, and if you look in other parts of Carrollwood there is an even higher percentage. Of course it isn't for everyone...I like the character of the older homes in Original Carrollwood but a lot of people prefer newer homes.

There are a lot of great options right now and the best advice would be to rent in the area you think you'd like to buy and see if that really is where you'd want to be.

Good luck and welcome to Tampa!!!

[Keeper]

I agree rent before you buy. Too many ppl buy someplace and hate something about it and are miserable.
Driving from New Tampa to MacDill will be a long drive every day in heavy traffic. However, if it is important to you to be near your friend then I would rent there to see if you and DH like it before you buy.

Riverview is a young family area.

[housingcrashsurvivor]

Moderator cut: orphaned quote

I did buy into this market. I have also sold into this market. This market has not put my life on hold. I might be selling another and I might be buying another. I'm not a flipper but hold long-term as I can. The one I sold netted about 6% on its money, even selling into this depression. Rents no longer justified holding onto it, hardly even paying for taxes and insurance on waterfront property, so I saw no reason to subsidize the luxury lifestyle of a tenant and sold to a guy who wanted to develop. The landlocked property I've currently for sale will probably realize about 8% on its money though if rented I'd get, after expenses, just under 4%/annual on my money invested plus equity (I didn't ATM the place? Shock!) or 8-9% on invested money alone so either sale or holding could be a good enough decision even in this market.

As to the houses I recently bought, I paid 1993-1994 prices and even though the county has since declared further losses and reduced my taxes (woe is me), buyers of area comps since sold have paid 20-25% more than I did (well, I'll be a monkey's uncle!). I would not be against buying one more at the right price.



For the OP considering a purchase when moving onto a military base, a position known to be often temporary, this would not suggest buying, as I've previously, similarly suggested for other military-based residents, unless you plan and can easily afford to hold for the long term, renting it out after you might have to relocate elsewhere. I would also suggest, as others already have, renting in an area first, until you are familiar with a place, before buying, if you ever decide to do so.

[Deef1]

MacDill....Hmmm...the best advice: Before you buy, try the drive...during rush hour of course!

Back to the basics... THE CROSSTOWN TO MACDILL...THAT IS THE KEY TO HAPPINESS...
I think you will find, depending on what you can afford, if not in the Hyde Park, Davis Island area (watch out for flood zone insurance and hurricane evac zones with high ins deducts) then I would say...toward Brandon, S of Hwy 60 or toward Riverview area. Seriously, the drive can be the difference between enjoying where you live and just staying grumpy constantly from your daily drives. Florida...it is HOT, pools are great..if you can afford them..it makes not having enough time to drive to the beach a better weekend, just stay home .. relax in the pool and stay cool!

Carrollwood and New Tampa...Better take my advice and DRIVE the DRIVE both ways during rush hour (the times you would be driving) before you even consider it. If you don't mind what you encounter...of course, there are some nice places there too.

[FLsunshine_2010]

I completely agree with the last comment. New Tampa is very beautiful and great place to live, but would be a long drive (even longer in rush hour).