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Old 01-28-2015, 08:15 AM
 
76 posts, read 141,304 times
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Does anyone have thoughts on the best location to buy a larger house for resale in four years?

Basically, the military will transfer us to WPAFB for likely a four year stay and then we will likely move again. We have a large family (so prefer a larger house, in a good school district). I don't require fancy but I do need big (3000 sq ft plus). I can be creative with space and am open to converting portions of a finished basement or formal living/dining areas to fit my requirements.

I'm not really a fan of renting or living on base, although if I have to we could rent if we could find something big enough.

I noticed several of the houses I've looked at online have been on the market for awhile and I don't really want to be in that situation when I try to sell in four years. I don't mind losing some money when I sell ($20 k ish) but I really don't want to lose a lot ($60 k +) nor do I want to be an unplanned landlord because I couldn't sell it.

Most of what I see in the ballpark (3000 sqft and up) seems to be around $350-400k which is doable but I don't want to end up trapped with a white elephant.

School district wise I'm still considering Kettering, Oakwood, Bellbrook. I have a special needs kiddo and a couple of academically advanced for grade kids plus some in between. I have considered Beavercreek since that seems to be where most other military folks are living but I keep hearing their schools are overstretched and that there are funding issues.

I'm okay with higher taxes in some districts because it will still be way cheaper than private school for all these kids! (Although clearly that can affect resale.)

Thoughts?

Thanks!
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Old 01-28-2015, 09:07 AM
 
Location: Beavercreek, OH
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MilMom6--

There isn't a ton of demand for houses in the $350-400k range - not, at least, if you need to sell quickly due to being transferred elsewhere. It's probably why you see houses that will sit on the market for a while... apart from working on WPAFB there aren't a lot of jobs left in the Dayton area that pay enough to make the houses affordable (NCR, Mead, Delphi, Delco, etc. are gone)

If you had said any less than four years, I would have recommended renting instead, which is what a lot of military families do. I know of families who transferred to other bases for that time frame and ended up renting elsewhere too, so it's still not a bad option. (Typically, the breakeven point of buy vs. rent is about seven years, but that's been reduced somewhat due to historically low interest rates.)

I think I'm the only person on this board who doesn't endorse Kettering's school district. The greatschools ranking is good, but my opinion of that district is pretty low; primarily the students who attend that I've met there. In teeninese, "they ratchet asf".
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Old 01-28-2015, 09:09 AM
 
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Vandalia. Good resale, good schools, close to base, larger homes for less.

The sacrifice is further access to major shopping areas and Cincinnati. Also no walkability.

Here's a few spots you might like offhand:

Vandalia Ohio Homes For Sale & Vandalia Real Estate - Zillow
Vandalia Ohio Homes For Sale & Vandalia Real Estate - Zillow
Dayton Ohio Homes For Sale & Dayton Real Estate - Zillow
Vandalia Ohio Homes For Sale & Vandalia Real Estate - Zillow

Good luck!
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Old 01-28-2015, 09:12 AM
 
3,513 posts, read 5,122,891 times
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Sorry, missed some of the content towards the end of your post earlier.

Kettering is prob a better choice, but I would definitely look into Vandalia, Englewood, and Beavercreek as well.

I'm in a rush at the moment, so I'll try to provide some more info later. Otherwise, the other posters here are great and will probably fill in the knowledge gaps.


Good luck!
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Old 01-28-2015, 09:49 AM
 
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I would look at West Kettering personally. As for the schools, as someone who went to Kettering schools and has friends who have kids there now, it is far from how hensleya1 describes them. Are there some rougher parts? Yes. It is a big/diverse district. That said, most kids are really nice and the teachers are great.
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Old 01-28-2015, 10:03 AM
 
76 posts, read 141,304 times
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Quote:
Originally Posted by hensleya1 View Post
MilMom6--

There isn't a ton of demand for houses in the $350-400k range - not, at least, if you need to sell quickly due to being transferred elsewhere. It's probably why you see houses that will sit on the market for a while... apart from working on WPAFB there aren't a lot of jobs left in the Dayton area that pay enough to make the houses affordable (NCR, Mead, Delphi, Delco, etc. are gone)
Yep. I was afraid of that. It's not like I really want to spend that much or that I need fancy. I just really need a lot of square footage to accommodate a crowd of people (including an elderly parent). We have 3600 sq ft now and it's a bit tight (but there are no basements and no attics here).

I will see if I can aggressively dejunk what we have in an effort to get a smaller footprint but don't see us getting much below 3,000 square feet. I suppose if 600 of that is basement maybe that would get us down to 2500 sq ft.

My impression is that Oakwood might have better resale than Bellbrook--is that true?

It just seems like if I'm going to end up with a higher end home I would have a better chance of unloading it in a place like Oakwood even though I would otherwise have some misgivings about Oakwood. Kettering otherwise seems like a better match for us but I worry that if I buy a higher end home in Kettering that it would languish on the market in four years when I go to sell. My impression is that people with $400k to spend on a house are generally going to prefer Oakwood over Kettering (even if that isn't exactly my preference). For whatever reason the Bellbrook homes seemed to have the longest times on the market--is that because it's a little more rural?

Thoughts?

Thanks! You guys are super helpful and I appreciate the help. I'm kind of a planner and this information is really valuable for me.
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Old 01-28-2015, 10:08 AM
 
76 posts, read 141,304 times
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Quote:
Originally Posted by RDriesenUD View Post
I would look at West Kettering personally. As for the schools, as someone who went to Kettering schools and has friends who have kids there now, it is far from how hensleya1 describes them. Are there some rougher parts? Yes. It is a big/diverse district. That said, most kids are really nice and the teachers are great.
I think I am definitely going to have to look at this as an option. I can't wait to visit and check the areas out. The last time I was in the Dayton area was 15 years ago I had vastly different concerns (single, no kids, student).
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Old 01-28-2015, 10:15 AM
 
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Quote:
Originally Posted by MilMom6 View Post
My impression is that people with $400k to spend on a house are generally going to prefer Oakwood over Kettering (even if that isn't exactly my preference).
When you drive across the Ridgeway bridge from Oakwood into Kettering, if you don't pay attention to the signs, you would have no idea that you changed towns.

In Kettering, W of Far Hills, N of Stroop, and adjacent to Southern, there are lots of really large houses. S of Stroop in some areas, there are many other large homes.

There are certainly some developments in Beavercreek, near I-675, that have newer houses in the 3ksqft-size.

A realtor could tell you what is the easier area to sell quickly.

The only thing that the Beavercreek location has is access to I-675 and an easy commute to WPAFB. The Oakwood and N Kettering locations have much better access to amenities and more walkable, bikeable streets.

Last edited by IDtheftV; 01-28-2015 at 10:28 AM..
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Old 01-28-2015, 10:44 AM
 
Location: Beavercreek, OH
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Something else to consider: a wrinkle in Ohio state law with regards to local income taxes. You pay city taxes if you live or work in the taxing city (most cities will give you a credit if you pay taxes in another jurisdiction).

Working on base, however, isn't subject to any city tax.

However, if you live in most cities, you'll pay city tax to that city.
Oakwood (2.5%)
Dayton, Kettering, Miamisburg, West Carrollton (2.25%)
Centerville (1.75%)

However, Beavercreek and Bellbrook have no such city tax. Depending on what your family's income is working on base, that's likely a difference to be measured in several thousands of dollars per year.
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Old 01-28-2015, 11:01 AM
 
76 posts, read 141,304 times
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Quote:
Originally Posted by hensleya1 View Post
Something else to consider: a wrinkle in Ohio state law with regards to local income taxes. You pay city taxes if you live or work in the taxing city (most cities will give you a credit if you pay taxes in another jurisdiction).

Working on base, however, isn't subject to any city tax.

However, if you live in most cities, you'll pay city tax to that city.
Oakwood (2.5%)
Dayton, Kettering, Miamisburg, West Carrollton (2.25%)
Centerville (1.75%)

However, Beavercreek and Bellbrook have no such city tax. Depending on what your family's income is working on base, that's likely a difference to be measured in several thousands of dollars per year.
So I wonder why it looks like Bellbrook houses have slower turnovers/longer days on market?

Anybody have thoughts on best way to find a good realtor? Is there one company that is "known" for the Kettering or Oakwood areas?
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