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I'm researching a possible move to the area (isn't everyone), and was looking for advice on a couple things.
Our situation is pretty simple. My wife and I, a yr old child, and another on the way. We're currently residing in the Chicago area, and are completely priced out of ever owning a home. I'm the only one working, and it's a struggle to afford to live here. Prior to Chicago, we lived in Charlestion SC. We really enjoyed our time there, minus the so-called "waterbugs" aka gigantic cockroaches. Anyway, we loved the style of homes, the weather, the water and being a day trip from the mountains, the nice and welcoming people, and just felt more eased there (less rush hour traffic over the rivers). It's such a different world in the south, and we really miss it.
Anyway, we've been researching Tennesee and NC specifically, and a position is available in Durham. So my questions are pretty general to everyone elses, where should we look to live? Rent for six months? How soon do you see the housing market exploading (like in Charleston)? How far is the drive to the ocean/mountains? What areas should we specifically avoid?
I think I glamorize this life of rocking chairs under ceiling fans on the front porch, a four bedroom/two bath/two level house for under $175,000. Is it here, or am I looking in the wrong places?
The Triangle is quite large and there are a LOT of options, so if at all possible, I would recommend that you rent for a while first (we rented for a year before buying). That way you'll have tons of time to explore the area & find what is right for you. For instance, do you want to live within the city of Durham or Raleigh? Or would you rather be in a more suburban or rural environment? You'll get to see the benefits of both & take the time to see what is best for you.
As for finding a house that size for $175,000? It can be found BUT that price bracket is highly competitive and you may need to move fast! All the more reason to be living here first.
We did that in SC, and I got screwed when we tried to get out of the lease to buy a house. I did contact a real estate company that was recommended in one of the other threads, so maybe they'll come through.
You can get 6 month leases in many communities then go month-to-month if you're close to a home purchase.
Of course, you will get burned breaking a lease. Try for a minimum term if you don't plan to stay for a year.
Maintenance can also be a nightmare in rentals from small landlords. Big complexes have service techs on staff. Little guys have to hire contractors to fix your issues.
Just yesterday, our A/C was acting up. Rang up Katie at the office. Buzz came by within the hour to fix the compressor.
I have seen so many folks asking if the dream of the housing you desire is really possible. The answer is yes! Here are the tricks though. In my experience, real estate agents will steer you out of communities that they see as undesirable. I bought my home for about $90K - 4 bedrms and 2 baths. The trick in my case was an agent that was willing to let me see any property that fit my desired specs instead of choosing ones for me. You'd think this would take longer, but I only went to see homes twice and landed the ONE.
Every case is different, but the historic areas in Durham are great. I can see the fireworks to the Bulls Stadium from my front porch so that life is not a fairy tale.
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It is possible
