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My husband is taking a new job with his employer in the Asheville area. We have 2 children ages 11 and 9. I am looking for a nice place to live but would like to rent since we are also keeping our house in FL. We will be in Asheville area for approx. 2yrs.
I would like to rent a house in a GOOD "kid friendly" neighborhood maybe near a lake. I am very unfamiliar with the area and its price ranges. We would like to rent for around $1300 or less. Any suggestions?
Very few lakes and those that are there are typically surrounded with houses far out of your price range, but you should be able to rent a 3 br house in your range in a nice area. For good neighborhood, schools, etc., look at the east side, Kenilworth, Beverly Hills, Haw Creek, Riceville, Reynolds areas.
It may be worth checking out Biltmore Lake. A number of resale homes on the market in there are not selling and the owners (particularly those carrying two mortgages) might be agreeable to renting at a reasonable rate.
It may be worth checking out Biltmore Lake. A number of resale homes on the market in there are not selling and the owners (particularly those carrying two mortgages) might be agreeable to renting at a reasonable rate.
Based on the size of the houses (and the likely size of the mortgage) I would expect houses there to rent for $2000 - $2500 plus utilities. The rentals houses I am familiar with in the east are $990 - $1400 for 3 bedroom 1.5 - 2 bath houses, plus utilities.
Thank you for the info. I've looked at some houses on line in the Haw Creek & Beverly Hill area. Glad to hear they are in good neighborhoods. I've heard that west Asheville is not so nice an area. Would you say that that side of town is not a good place to move?
Based on the size of the houses (and the likely size of the mortgage) I would expect houses there to rent for $2000 - $2500 plus utilities. The rentals houses I am familiar with in the east are $990 - $1400 for 3 bedroom 1.5 - 2 bath houses, plus utilities.
Normally, I'd agree with your numbers.
My evidence is anecdotal, but last fall a friend who has investment property lost a potential tenant (for an East Asheville house like you describe) to Biltmore Lake. These folks found a house there for, I think, $1300/month. The market's only gotten slower since then, so I think it's at least worth a look. It's the only lake community I can think of that would come close.
I hear the school district for Biltmore Lakes is not good. Since your kids are of school age I recommend checking out South Asheville for the South Bucombe County school district (Glen Arden, Cane Creek/Valley Springs and TC Roberson). There's Biltmore Park, Cotswold, etc. - they may have some rentals? I've heard Reynolds has a good school district which I believe is Fairview. Not sure where your husband's job is so you may take that into consideration as well. I would hook up with a realtor who can give you more insight on the rental market and the school districts, etc.
My evidence is anecdotal, but last fall a friend who has investment property lost a potential tenant (for an East Asheville house like you describe) to Biltmore Lake. These folks found a house there for, I think, $1300/month. The market's only gotten slower since then, so I think it's at least worth a look. It's the only lake community I can think of that would come close.
I would think that a slow housing market would make put a higher demand on the rentals that are available. When people can't qualify for a mortgage, bad credit due to foreclosures, etc, then they rent. People still gotta live somewhere.
I hear the school district for Biltmore Lakes is not good. Since your kids are of school age I recommend checking out South Asheville for the South Bucombe County school district (Glen Arden, Cane Creek/Valley Springs and TC Roberson). There's Biltmore Park, Cotswold, etc. - they may have some rentals? I've heard Reynolds has a good school district which I believe is Fairview. Not sure where your husband's job is so you may take that into consideration as well. I would hook up with a realtor who can give you more insight on the rental market and the school districts, etc.
East side schools, Haw Creek Elementary, Bell Elementary, Reynolds Middle and Reynolds High are some of the best in the county. Kenilworth area is probably in the Asheville City School area. Though the city limits keep expanding, school boundaries remain, this many city neighborhoods go to county schools.
I would think that a slow housing market would make put a higher demand on the rentals that are available. When people can't qualify for a mortgage, bad credit due to foreclosures, etc, then they rent. People still gotta live somewhere.
True. But many of those decide to stay where they are rather than buy or rent something new here. There probably has been an uptick in local rental demand, but I think it's far outweighed by the increase in supply of available properties. So the net effect can still be downward pressure on rents, at least in some areas or categories.
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Thanks
