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This scenario screams for you to rent for a year. I know you're against it, but please re-read your scenario and consider this option.
I so agree. First, let me say, I'm sorry if you feel you need to move a.s.a.p., N_A_H.
Winter is here. You've never experienced a winter up north, you've never experienced living away from family, you know nobody in Oil City and you really don't know if a home business will be successful there. I truly hope you decide to rent first. Good luck!
Did you consider all those cheap houses are in one particular area? Oil City is surrounded by water sort of. The Allegheny River and Oil Creek converge at Oil City. Just the photos are a total put off to me. Oil City is in a valley. Vennango county which it is part of has a history of flooding and collecting disaster relief.
Most of oil city is built on the side of big hill,very few homes are built on the creek,and most on realtor are on higher elevations.I have never seen major flooding that you speak of. I've lived there and my sister still lives there. But renting is a good idea rents are cheap there,$250-$350 a month will get you a decent sized rental.
Although Oil City is cheap and such, maybe you should look into somewhere you can see yourself having FUN too. I realize you want to pay 100% but an $18k house is most likely not much quality at all.
Try cities with more to do. As far as I can tell, and could be wrong, you may get bored in Oil City. Very bored.
Fun and crime go together. I have considered DFW, I can get a 2/2 condo there for $30k easily but ive been warned I dont that crime infested area. Buffalo, NY is a big fun city but the crime is too high and its full of immigrants and minorities. There is no big, fun city that isnt high crime, although the rich can "cocoon" themselves by living in great upscale gated(sometimes guarded) neighboors. If a big, fun city has affordable areas, its where most of the crime is. Safety comes first and is why I have decided not to buy something for like $50k or even $30k in a big, fun city. Sorry but I arent rich and this is reality for us middle class people.
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Originally Posted by pkoons
This scenario screams for you to rent for a year. I know you're against it, but please re-read your scenario and consider this option.
There isnt any rentals that ive found in Oil city and I arent paying more than $200 a month to rent a house worth $40k. In a "bubble" city, it can be cheaper to rent, but in a city where houses are mare thousands, a few years worth of rent can equal the cost of owning a house! Besides I have to move out and live somewhere. If Oil city isnt perfect, nowhere is going to be perfect, I am not going to visit every city in USA. I made this post asking if any of you knew other cities as good as Oil city. I will research online the best city(so far, Oil city) and after I decide, I am moving to that city and will stay there as long as the crime stays low.
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Originally Posted by mb919
Definitely.
The conventional wisdom always says that it's better to own than to rent, and for the most part that is true. Over the long haul, it's definitely true. Renting is a better choice in some scenarios, though, and the one you describe is one.
Buying a house and laying down roots somewhere is a HUGE decision. If you find out that the house you thought looked good on the internet isn't really all that good, you're in a bind. If that town that seemed to fit all your criteria doesn't look as good in person, you're in a bind. You can't tell how the people really are from the internet. You could be walking into something that you're going to seriously regret once it's too late to do anything about it.
Renting for a year can be a great way to get to really see what a place is like. If you get there and realize you hate it, you can just go somewhere else when the lease is up- no strings attached. If you do like it as much as you thought you would, then it will be much easier to check out houses and pick the one that is perfect for you because you're already there. The internet is great for research and getting a basic idea of what a place might be like, but there is nothing like being there.
My logic is that if I buy a house for a few thousand and I am so unhappy that I relocate to another city, I can rent that house and make big profit if they are charging rip-off prices for rent. Fair rent for that house would be like $100 a month LOL(based on 1:200 monthly) I dont know how much the people in Oil city want for rent, if theres any for rent. Say they want $300 a month, thats $3600 a year. I can buy a house for a few thousand and if I break even selling it if im not happy living there, I just saved $3600 that would have been gone renting. Theres $0 property taxes thanks to PA's $30k exemption.
Theres dozens of houses for sale alone on Realtor com and probably over a hundred more "by owner" I am sure theres one that fits my needs. Theres someone who posts here that lives in Oil city, she can vouch for it.
You are right, there is nothing like being there, I wont buy a house sight unseen.
Someone a few posts down said most of the houses are not in flood zone. Ill be getting one away from flood zone. Theres a $16k house which ive mentioned before that comes with .17 acres lot(looks even bigger in the picture) and the house looks nice too and its pretty near 2000 square feet!
Ill do the TLC myself, as long as the house is livable and move in ready.
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Originally Posted by kdm31091
Good point. Don't go for cheap cheap cheap, as I learned during research, it usually means there's one or more drawbacks.
You might want a middle of the road expense house, that way, not expensive, not junky, less drawbacks. So maybe save up longer?
You know im in a bind. I have only $15k to make do when I move. I want to move out already and so do my parents. Whatever cheapo house I get is just a temporary thing till I save more in Oil city. That $16k house doesnt look broken down in the picture and I probably have a choice of 20+ houses for around $16k when I get to Oil city, most "by owner" There may be some house half the size as the other $16k houses but not as old and very nice looking and in decent condition. Maybe I can have someone living in Oil city to email me the classifieds.
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Originally Posted by christina0001
realtor dot com is known to be somewhat outdated - it will not have the latest listings, it will not have any FSBOs, and it often lists houses that have already been sold. It's a great resource to get a general idea of what housing costs in an area, but when it's time to buy, you will need to either hire a realtor or do more legwork than just look on the internet.
That's exciting that you are just about ready to move. The Pittsburgh area is lovely. I also advise to rent, even share a place, at least temporarily. What if you move there and absolutely hate it? Would you marry someone based on convenience and nothing else? Buying a house is a big committment. Whatever you choose, best of luck to you!
Is Oil city in the Pittsburgh area? Its 73 miles away from Pittsburgh where ill be flying to where ill rent a car for a few days till I find a house and car to buy and make Oil city my new home You may be right about Realtor com, the nice houses I see could be long sold. But I already have an idea how affordable Oil city is and I know I can find something for as little as under $10k and if I can get financing, ill take one for $20k. After I live there for 2-3 years and have $50k saved up and plenty of time to check out hundreds of houses, ill "upgrade" my house. As ive said, I need any temporary livable house, ive been too long in parents house.
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Originally Posted by Cosmic
All these places that seem to be so attractive have some of the same general factors.
Places like Oil City, Bluefield, WV, Bellaire, OH.
They are all old neighborhoods, very tight packed together. Most houses with no land, very small lots. Many have no driveways or ability to park on your own property. Maybe houses located very close to the street, zero separation from the neighbors on all sides in any meaniful sense.
(snip)
Ive noticed most houses have "zero lot" its the same everywhere, even in a metro city like WPB where I currently reside. Large amounts of land is in rural farmland. I know its an older place but lots of modernization has been underway. Theres even a superwalmart in Oil city! Many of the old houses have been renovated while the owner resided there. You can speak good of Woodsfield, OH because you live there. Someone who posts here lives in Oil city and ill chat to that person. Woodsfield is a great deal and speculators do buy but the locals are wise to their games and refuse to buy from them, serves those greedy speculators right. They end up auctioning them for a loss(we talked about this) It may be the same in Oil city. Good deal as a homeowner/buyer, but not profitable to speculate.
Ugh. Cold, snowy, decent city but working class feel. Not super pretty or friendly.
May I suggest the South or Texas? Plenty of wonderful, affordable towns with great shopping, quality of life and great people as long as you enjoy yourself and appreciate stuff there. Beaches, mountains, there is everything. PA is not a great state either expensive colleges and taxes with little to show for it. The Pittsburgh economy is not as good as many others it is part of the rust belt. Stay out of PA I dont recommend it to anybody. Its not a bad place but it isnt a great place either -- think on the lines of Illinois or Ohio. Not bad states just not great either.
I already thought about Texas, see above post. Yes theres some compromises in PA but crime isnt one of them and safety comes first. The crime in Oil city, PA is far lower than the crime almost anywhere in Florida!
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Originally Posted by wallstreet1986
Ugh. Cold, snowy, decent city but working class feel. Not super pretty or friendly.
May I suggest the South or Texas? Plenty of wonderful, affordable towns with great shopping, quality of life and great people as long as you enjoy yourself and appreciate stuff there. Beaches, mountains, there is everything. PA is not a great state either expensive colleges and taxes with little to show for it. The Pittsburgh economy is not as good as many others it is part of the rust belt. Stay out of PA I dont recommend it to anybody. Its not a bad place but it isnt a great place either -- think on the lines of Illinois or Ohio. Not bad states just not great either.
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Originally Posted by grammy164
I so agree. First, let me say, I'm sorry if you feel you need to move a.s.a.p., N_A_H.
Winter is here. You've never experienced a winter up north, you've never experienced living away from family, you know nobody in Oil City and you really don't know if a home business will be successful there. I truly hope you decide to rent first. Good luck!
I have experience as a college student. This wont be much different except the cooler climates(for a change) I know that if I make money here, I can make money anywhere that has internet. I will rent first depending how cheap the rents are. If its much cheaper to own, why throw money away renting even for a year, that could be a large chunk of money used for owning! If a house costs $10k to own and costs $3600 to rent for a year, I hope you realize it makes NOOOOO sense to pay that kind of rent!
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Originally Posted by mystree66
Most of oil city is built on the side of big hill,very few homes are built on the creek,and most on realtor are on higher elevations.I have never seen major flooding that you speak of. I've lived there and my sister still lives there. But renting is a good idea rents are cheap there,$250-$350 a month will get you a decent sized rental.
That kind of rent is too much in comparsion to ownership. You speak good of that city then ill be happy living there so ill own a house there. Can you send me the Oil city classifieds by PM? Can you also download AIM or Yahoo messenger so we can chat? You have the knowlege
By owner theres only 3 affordable deals. A realtor site has one for $18k with owner financing at 12% interest! Guess ill pay 100% down and save that interest. I didnt see alot of listings in the local Oil city classifieds, why do so many people not advertize? Costs too much and not worth it when the house itself is so cheap? Is the only way they let others know they are selling is by putting a "for sale" sign outside?
By the way, rent is insane, I can get a mortgage for less than half of what rent costs! So no thanks to renting, if I am that unhappy with living in Oil city, ill just rent my house out then!
Last edited by Need_affordable_home; 12-01-2006 at 10:41 AM..
Looked real quick for the beachy areas in Texas so that you would still have that but nothing in your price range. Looked around a few areas in Dallas, na. Found this. It is in Waco - two schools: Baylor University and Texas Technical College. This home can not be far from Baylor and is huge. It is red tagged by the city and needs to be brought up to code or demolished but if you could get this up to code and ready to rock you would probably have a very nice investment property. You could live in part and rent out the other to college kids as it is hard to find places there close to the campus. Or live upstairs and have the bottom for your business or some kind of storefront. Even though Waco is a small city there is stuff to do and it is VERY close to Austin and Dallas, between the two.
1209 N 19TH
Waco, TX 76707
MLS ID#: 117084
$29,500
7 Bed, 4 Bath
3,486 Sq. Ft.
NAH, like I mentioned to you in a previous post, the internet can give you an idea of an area, but there is nothing like going to the actual area and experiencing it first hand. I've been to areas that I researched in the internet and some have been more or less what I expected. However, I have visited areas not getting into specifics, but there were negative aspects of the area that you cannot see on the internet. You just have to experience it first hand.
It is evident that price and price alone is the only thing that you are considering. Oh, and crime rate. How about a quality of life, interests, hobbies, weather, etc. I guess if your only goal is to find a cheap cheap home and basically stay indoors most of the day and not worry about interacting with the people in the community, or what businesses are there or not there, and plan to stay home on the internet and watch cable all day, and basically live in your own little world inside the walls of your home, then I guess it really doesn't matter where you live. I really wish you luck, but I cannot overemphasize the importance of actually visiting an area before moving to it if you have never been there before.
I think you should watch The Money Pit. That is exactly what a 18k home sounds like to me. If it is that cheap, there has to be an extremely bad reason why.
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