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Hello, I am in the process of trying to find a living situation with equal drive times to Torrington and Wallingford for work. The obvious answer is Waterbury...but there is nothing worth renting there, and the property taxes and economy make me fearful to buy.
Our time frame of living here would be 2-3 years, might be more, but 2-3 years just to be safe. I know renting is the safer option, but we have a dog, want a washer and dryer, don't want to be in a curry filled apartment, and want some privacy.
Does anyone have some advice on a good midway point between Torrington and Wallingford for either buying or renting? Also, any insight on specific markets for buying and if 2-3 years is an absolutely bad idea.
I used a buy vs rent calculator and if I can get in and out of the home at the same sale price, or even a percent higher, it would still be better to buy from what I am calculating. That is including taxes, closing costs, etc.
Towns that border Waterbury. Maybe the Oakville section of Watertown. More affordable rents and quick access to i84/Rt8. If you wanted to buy there taxes are about half of Waterbury's. Above average schools if kids are in play. If not, decent restaurants, bars and other adult entertainment are close by.
You don’t indicate your budget, what type of community you want, if schools are important and what you expect for your budget. Without knowing the above I would recommend looking in Cheshire, Southington or Wolcott. Cheshire is a more affluent community with well performing schools. Southington is a more middle class suburb with a wide range of housing options. And Wolcott is a smaller quieter town. Your choice which would serve your needs best. Jay
You don’t indicate your budget, what type of community you want, if schools are important and what you expect for your budget. Without knowing the above I would recommend looking in Cheshire, Southington or Wolcott. Cheshire is a more affluent community with well performing schools. Southington is a more middle class suburb with a wide range of housing options. And Wolcott is a smaller quieter town. Your choice which would serve your needs best. Jay
Yes sorry, my budget is anywhere from $180k - $250k. I have $100k I can use as a down payment but would might put down less. Both excellent credit scores. No kids. Don't want to be around crime and don't want to be too much away from restaurants, gym, etc.
Basically my main goal is find an area where I won't have to worry about re sale as much. So even though we don't have kids, if the better school system areas have better re sale, then I would consider that.
We are going to an open house in Burlington tomorrow on the Farmington line, and also been looking in the North Bristol, Farmington area. I grew up in Wolcott and I'm trying to avoid being back there, place creeps me out.
Hello, I am in the process of trying to find a living situation with equal drive times to Torrington and Wallingford for work. The obvious answer is Waterbury...but there is nothing worth renting there, and the property taxes and economy make me fearful to buy.
Our time frame of living here would be 2-3 years, might be more, but 2-3 years just to be safe. I know renting is the safer option, but we have a dog, want a washer and dryer, don't want to be in a curry filled apartment, and want some privacy.
Does anyone have some advice on a good midway point between Torrington and Wallingford for either buying or renting? Also, any insight on specific markets for buying and if 2-3 years is an absolutely bad idea.
I used a buy vs rent calculator and if I can get in and out of the home at the same sale price, or even a percent higher, it would still be better to buy from what I am calculating. That is including taxes, closing costs, etc.
Thanks!
Rent before buying. I would look in Bristol. Lots of reasonable rents and plenty of shopping in town.
I’m not sure the 2-3 time window works. A recession is likely in 2020 and the market would be in a down swing. If that falls right, the bottom will be right when you are trying to sell. Rent before buying. You’ll have to consider this reorganization change in school districts coming up, maybe, I don’t know. If you are in Farmington and they zone with Bristol, it might have some impact on pricing
2-3 years to be in a house and try to bank a profit or break even after a couple years in Ct doesn’t work. And even in the most up and coming areas it’s getting harder. Don’t count on your home as an investment. One roof repair and poof no more profit.
With that budget, your options are somewhat limited, but the sub-$250k market in Watertown is fairly brisk - you would have no trouble with resale. Milldale/Marion/Plantsville would also make sense, as would the northern end of Cheshire closer to 84.
With that budget, your options are somewhat limited, but the sub-$250k market in Watertown is fairly brisk - you would have no trouble with resale. Milldale/Marion/Plantsville would also make sense, as would the northern end of Cheshire closer to 84.
Milldale/Marion/Plantsville are sections of Southington. It is a solid middle class town and would be a good place to rent or buy. You should be able to find a nice but modest sized home there within your budget. The town is safe and the schools are decent plus your commute to Walingford will be about 20 minutes while the commute to Torrington about a half hour. Jay
I’m not sure the 2-3 time window works. A recession is likely in 2020 and the market would be in a down swing. If that falls right, the bottom will be right when you are trying to sell. Rent before buying. You’ll have to consider this reorganization change in school districts coming up, maybe, I don’t know. If you are in Farmington and they zone with Bristol, it might have some impact on pricing
2-3 years to be in a house and try to bank a profit or break even after a couple years in Ct doesn’t work. And even in the most up and coming areas it’s getting harder. Don’t count on your home as an investment. One roof repair and poof no more profit.
I think it is way too early to start worrying about the proposed school consolidation particularly with larger towns and communities. There is a LOT of opposition to this and it is more likely a way to get even more money for failing school districts than anything else. If the legislature did try to do this, I would think it would be tied up in courts for decades anyway and we do not know what districts would merge. Jay
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