Military with limited amount.....should I buy? (Madison, Green Bay: for sale, apartments)

[smack doogle]

Okay, I am active duty US Navy. I've been in for a little over 11 years now and I'm considering moving my family to The Fox Valley area. Basically I'm looking at an area like this.

The furthest north is Stevens Point, South is Beaver Dam, West is Westfield, and East would be Chilton.

Basically, central wisconsin. I'm not picky but I would like a nice area for my kids to go to school and my wife to work (she's a designer for Home Depot). The reason for this area is because I am going to try and get orders to be a Recruiter in Wisconsin. I can't just tell the navy, hey, I want Appleton to recruit from. They tell me were they need me and it could be Madison, Green Bay, Appleton, Wausau. You get the picture.

Anyway, we want to buy a house since this will be our last move (till I retire and the kids move out at least). But we don't think we can go above $120000. Is it worth it to buy a house at this price range or should we save for a few years and work on our credit to reach the $200000 price range. I'm tired of renting and finding decent houses to rent (3 kids will not rent an apartment) is very difficult. I'm looking for any suggestions from anyone. We are a mixed family (wife is black, I'm white, kids are white, blond hair blue eyes or black. very strange) so any racist towns would not be okay. I grew up in Crivitz and that atmosphere was nice. Anyway, your help would be greatly appreciated.

[JoshB]

Stevens Point comes to mind as well as Appleton.

[QwertyFarmer]

Keep saving a few years to make it worth your while as a lifetime investment. This house could be left to your children in the long run and a better start will result in a better overall experience. Plus, better credit equals better interest rates which also would help you and your family in the overall long run, thousands could be saved by you and put towards other family needs, like tuition for your childrens education. I am sure your experience is currently a strain, but rushing into anything, especially a house, could result in some regrets that can not be resolved easily. Good luck with all your future decisions, you have some big ones.

[smack doogle]

Originally Posted by QwertyFarmer

Keep saving a few years to make it worth your while as a lifetime investment. This house could be left to your children in the long run and a better start will result in a better overall experience. Plus, better credit equals better interest rates which also would help you and your family in the overall long run, thousands could be saved by you and put towards other family needs, like tuition for your childrens education. I am sure your experience is currently a strain, but rushing into anything, especially a house, could result in some regrets that can not be resolved easily. Good luck with all your future decisions, you have some big ones.

Thanks for the advice. That is kind of what I'm leaning towards. It's tough to find a decent rental house. I'm trying to aviod apartments. Guess I'll keep an eye on craigslist. Thanks again.

[limapie]

Originally Posted by smack doogle

Okay, I am active duty US Navy. I've been in for a little over 11 years now and I'm considering moving my family to The Fox Valley area. Basically I'm looking at an area like this.

The furthest north is Stevens Point, South is Beaver Dam, West is Westfield, and East would be Chilton.

Basically, central wisconsin. I'm not picky but I would like a nice area for my kids to go to school and my wife to work (she's a designer for Home Depot). The reason for this area is because I am going to try and get orders to be a Recruiter in Wisconsin. I can't just tell the navy, hey, I want Appleton to recruit from. They tell me were they need me and it could be Madison, Green Bay, Appleton, Wausau. You get the picture.

Anyway, we want to buy a house since this will be our last move (till I retire and the kids move out at least). But we don't think we can go above $120000. Is it worth it to buy a house at this price range or should we save for a few years and work on our credit to reach the $200000 price range. I'm tired of renting and finding decent houses to rent (3 kids will not rent an apartment) is very difficult. I'm looking for any suggestions from anyone. We are a mixed family (wife is black, I'm white, kids are white, blond hair blue eyes or black. very strange) so any racist towns would not be okay. I grew up in Crivitz and that atmosphere was nice. Anyway, your help would be greatly appreciated.

Absolute lowest property tax in Wisconsin is Town of Algoma, a township just west of Oshkosh, WI. No Home Depot, though. They just closed the one in Fond du lac. There is still one thirty minute drive north to Appleton. The homes in the town are hard to purchase because of the demand. There is a development on the far west side of Oshkosh, City of. Taxes are higher and water rates aren't too cheap. Yet, they are brand new living quarters in your price range. Close to schools, grocery, Walmart.

Go online and plug in Town of Algoma and Oshkosh. Look for Westhaven Drive, city of Oshkosh. Looke for Oakwood Road (both city and town on the other side of the street) look for Hwy 21, Hwy E, Witzel Ave, 9th street, twentieth street, Wyldewood Drive.

[4thebuddies]

In my opinion, you could buy a nicely updated older home in the $120K range. I just sold my house for $117K and its totally updated, in an excellent family oriented neighborhood, within walking distance to Walmart and 2 schools. Also within 15 minutes of a Home Depot in Appleton. My house is in Neenah.

I would recommend buying over renting hands down. At least you could stay in the house and in 5 years sell the house for more than you paid for it. This area is pretty stable even with all the foreclosures. I just wouldn't recommend selling a house within the next 3 years.

You can't really get a very nice house as a rental, nothing you would want to have children in anyway and not for less than a $120K mortgage would cost you. You can buy something for the same amount you'd be paying in rent. And I have even seen rental housing recently for more than my own house costs me to own.

If you are surely relocating to the Fox Valley, look for housing in Appleton, Neenah, Grand Chute, Town of Menasha (not city of Menasha) or Oshkosh. Appleton has 2 Home Depots and there is affordable housing there.

Property taxes are pretty high everywhere around here. City of Menasha is probably the worst and you probably don't want to live there anyway. Access to the highway is so roundabout and there's few stores in town so you'd be going to Appleton to shop anyway. Neenah has a Walmart and a few other grocery stores and the taxes are average, about the same as Appleton.

I would not say the homes in town are hard to purchase, exactly the opposite. There's a lot available and you can get a great deal right now. Now is the time to buy if you can!

[yo vanilla]

whats all this chatter about "high" property taxes? if he's looking at a $120K house taxes are going to be relatively cheap anyway. my house is worth a bit less than that, located in city of appleton, and mine are $2K. what would the taxes be in the boonies townships, $1800? so does it really count to say they're cheaper here, more expensive there, when it's really just pennies on the dollar overall.

smack doogle, i'm assuming you'd buy a house after you get assigned to a certain area. i would normally say try and hold out. my house is worth about $100K (city of appleton), it's not a bad place, but it's old and it's at the top of its appreciation range. which means the vast majority of my mortage payment goes to interest and taxes and i'll never see it back partly because my home value barely budges year to year. i think this will be the case for the not too far off $120K range too.

so normally i'd say you should save for awhile and buy something nicer. however, and i'm no economist, some say we're going to be looking at massive inflation soon enough. if that happens, homes are going to cost more. if it's as bad as some say that $120K house could cost $170K 2 years from now. so my answer is plan on waiting to buy, but keep an eye on the market and money value in general, just in case. if hyperinflation sets in, buy something quick while you can.

[lajjangus]

My husband just joined the Wisconsin National Guard and will be leaving for Basic and AIT July 1st. He plans on going Active Army as soon as he gets back though. Unlike you we still have a few years in our future to travel and wait on buying a house, so we know a good place to settle and where we want to be till he retires; on the other hand, like you we already have our 2nd child due around July 24th and finding a good place to rent is not easy at all and apartments (especially a cheap enough 3 bdroom one) are out of the question. Right now, I am planning on renting to own a modular home sometime during the summer. I hear though that people make more money off of selling a modular home later on if they want, then selling their house. My father is a retired (after 20+ years) US Navy CWO 3 and him along with the rest of my family are settled nicely in Germany at this point in time. After retiring, he decided to go back to school and got his degree in teaching. He is now a DODDS school teacher at Baumholder Base in Germany and he loves it. Even though they are doing very well and living life at its fullest (especially across seas); my mom and him both say still to this day that the most money they have ever seen earned was when they sold their very first place when they first got together (which was a modular home). They have never seen more than the amount they earned then from any of the houses they've lived in throughout the years.

In my opinion, I would either wait and build your credit better and try and find a nicer place. Or, work on renting to own a place, whether it be a house, mobile home, etc... Some owners that just have their house up for sale will also agree to a rent to own plan if they want to sell it bad enough and they know that it is worth their while and safe to go that route. The way the housing market is right now people would love to be able to sell their house in any way they can. You could also take my husbands suggestion and look into foreclosures because there are some nice one's out there, just watch what and who you are working with. Good luck on all your future adventures though! Sounds like you have some big decisions working your way and I hope it works out for you and your family.