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Location: Between a nook-a-ler reactor and a dump, North Cackalacky
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We have a specific price point in mind, meaning when we are 100% confident we can sell our house and clear $X, we will move. If that is 2 years (not likely) or 10 years, fine. We are moving into a very nice new home, it would be perfectly fine as a long-term home for us. However it is not our forever home.
If it does not appreciate the way we expect, we may opt to rent it out in 7-10 years.
We don't even know where our forever home will be - here, Shenandoah Valley, Western NC, New Mexico, the coast, the Moon are all options at this point.
We also bought our first home here. It's smaller, but just right for us now... with plans to hopefully upgrade in about 5 to 7 years as the family grows.
I purchased my first home as well. I will see where I am at in 3-5 years. I feel alot can change in even a year...both financially, personally, etc. We all want appreciation for our homes, time will tell. As much as I am happy to be a homeowner and love my home, this is definitely not my forever home. Depending on the market, appreciation, and growth in Knightdale, I will see where I am at in 3-5 years. I will call Vicki R when ready, to get a market analysis...hehe...I respect her view and knowledge of the real estate in the area...
Quote:
Originally Posted by North_Raleigh_Guy
We bought our very first home last year around this time. Due to our modest price point we went into it knowing it wasn't our "forever house" and that with a little hardwork and luck we will be able to upgrade 5-7 years from now. While any equity we do build up in our current home over time would be a plus, I am not counting on it to pave the way to our next house. I bought this house to be a home, not an investment. I hope my income / savings will be much better 5 years from now so we can buy something that could be more suitable for a long term situation.
Just curious how many people here have moved to the Triangle and have bought what they consider their forever house?
We are renting right now, but our goal is to buy a house that we can live while the kids are through school (our oldest is a preschooler). We don't want to buy and sell until we get the 3000 sf "dream house". If we get a nice house in a nice neighborhood, we will be set for a while.... I hope.
We bought with the thought in mind that this was our forever house. It's our first home purchase but:
1/ we're so sick of moving
2/ we want stability for the kids
3/ we have four kids and wanted enough room to accommodate future needs
The floor plan is quite clever and there are lots of rooms so many places for people to spread out to, and if we ever felt the need we could finish the attic.
We have a 1/3 acre with a shaded fenced back yard. My husband kept going on and on about this house as we were house hunting b/c he could visualize our children playing back there for years.
All that said, we've put a 7 year minimum on ourselves should we start thinking about wanting to move in the future. Who knows really? I know I NEVER EVER EVER want to unpack again. EVER!!!! I still have boxes in my house 3 mo later, ugh.
but you never know what changes life will throw at you.
Exactly! I bought my house with the intention of staying 5-10 years. But due to several changes (all good, or i must say, all GREAT changes) I will be staying only 1 - 1 1/2 years.
I hope that we can spend at least 5 years in this house, but I am flexible & am prepared to move sooner if need be. Due to the nature of my husband's job, I am hesitant to call one place our "forever" home until he retires (and the hope is that we'll be living in his family's home in England's Lake District then, but who knows what life will bring!).
PS. We were also nervous about house prices sky rocketing in the future. I have a lot of friends who are stuck in very small starter townhomes with their kids b/c prices in Northern Virginia went crazy a few yrs ago. Cooincidentally, right around when we moved there so we decided to rent until we moved out of the area.
No plans to go anywhere, so it could be another 10-12 years.
OTOH, these things are sometimes moves of opportunity, and somewhat spontaneous.
Now ...I have a latent gene that wants to do one more massive renovation.....and, if I see the right rancher, on the right lot, at the right price, in the right location...
Who knows?
We hope that this is it until retirement, but, you never know. Luckily, many people in our subdivision feel the same way, although some were talking about their next homes the week they moved in (no exaggeration folks!)
The weird thing is that at the higher price points, there seems to be more transients, so, I do not think we would move for a "more exclusive" neighborhood. When people move every 2 years it feels like more of a rental complex to me!
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