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My husband and I have been wanting to get to a cooler climate for several years and, for a variety of reasons, we haven't been able to settle on an area. I've read that the Raleigh area is very competitive, but I don't understand exactly what that means. Does that competitiveness extend into surround areas? Does it extend even further to outlying cities that may be barely commutable? We are currently in Arizona, and the market is competitive, but seems to still be doable. My husband would need to get to RDU twice weekly, so it would be nice to be super close, but not absolutely necessary. If we were to get an apartment for four months, is it likely that we can reasonably purchase a nice house in a desirable area for under $500,000 or is it so competitive that it's a crapshoot?
Does extending the search to Charlotte (would domicile at CLT), Sanford, Pinehurst, etc. make it much easier?
I should add, that in a perfect world, we would buy before selling, which means a mortgage. If we sell first, we are able to pay cash, but I don't want to end up "houseless." Everything seems so risky right now....but another summer is upon us and I just don't know that we have it in us. Also, EST would make him life MUCH easier.
It's hot here too. Not the same hot as Arizona hot, but most people do not like summer in NC. I love it, but I love heat and don't mind humidity so I'm not the best yardstick. People move here to get away from winter weather. I have never heard of ANYONE moving here because it's cooler than where they were coming from.
That said I don't think the real estate market could get much hotter. Houses sell like crazy before they even get a sign in the yard.
I don't know what kind of military your spouse is, but chances are he knows someone who has been stationed in NC and can attest to the hot and very humid summers here.
It's hot here too. Not the same hot as Arizona hot, but most people do not like summer in NC. I love it, but I love heat and don't mind humidity so I'm not the best yardstick. People move here to get away from winter weather. I have never heard of ANYONE moving here because it's cooler than where they were coming from.
That said I don't think the real estate market could get much hotter. Houses sell like crazy before they even get a sign in the yard.
I don't know what kind of military your spouse is, but chances are he knows someone who has been stationed in NC and can attest to the hot and very humid summers here.
Thanks for the reply! We were actually stationed at Ft. Bragg for about 2 years, but that was probably 25 years ago or so. I really don't remember it getting too hot, but I'm getting old I just don't want to end up in an apartment for a long time....
Does your husband just need airport access and not RDU specifically? I think the Western part of North Carolina would be more what you're looking for, along with areas in and around Roanoke VA. Hendersonville is a really nice town to retire to and isn't far from Asheville.
Does your husband just need airport access and not RDU specifically? I think the Western part of North Carolina would be more what you're looking for, along with areas in and around Roanoke VA. Hendersonville is a really nice town to retire to and isn't far from Asheville.
My father retired to Hendersonville and happily spent the last 30 years of his life living there. But I don't think that you can compare Asheville airport to RDU or Charlotte.
We lived in Phoenix for 25+ years until 2012 when we moved to Raleigh. There are only two things that we dislike about Raleigh: The summer humidity and the liquor laws. Both were non-issues in Arizona. MilitarySpouse, the summers here are brutal.
If we were to get an apartment for four months, is it likely that we can reasonably purchase a nice house in a desirable area for under $500,000 or is it so competitive that it's a crapshoot?
I think this applies to anywhere new you move, not just here - rent an apartment for at least six months to get a feel of the area, traffic patterns for where/when you want to go, etc. The Triangle is a large area. Each city (Raleigh, Durham, Cary, Chapel Hill, Garner, Wake Forest, etc) has its positives and negatives. You need to see which area appeals to you.
Unfortunately, it is very competitive at that price point for desirable areas. I think you have to consider how far out you are comfortable living, especially if you don't have a threshold for renovating. I agree that you should rent, although the rental prices have increased significantly in the last year.
My husband and I have been wanting to get to a cooler climate for several years and, for a variety of reasons, we haven't been able to settle on an area. I've read that the Raleigh area is very competitive, but I don't understand exactly what that means. Does that competitiveness extend into surround areas? Does it extend even further to outlying cities that may be barely commutable? We are currently in Arizona, and the market is competitive, but seems to still be doable. My husband would need to get to RDU twice weekly, so it would be nice to be super close, but not absolutely necessary. If we were to get an apartment for four months, is it likely that we can reasonably purchase a nice house in a desirable area for under $500,000 or is it so competitive that it's a crapshoot?
Does extending the search to Charlotte (would domicile at CLT), Sanford, Pinehurst, etc. make it much easier?
I should add, that in a perfect world, we would buy before selling, which means a mortgage. If we sell first, we are able to pay cash, but I don't want to end up "houseless." Everything seems so risky right now....but another summer is upon us and I just don't know that we have it in us. Also, EST would make him life MUCH easier.
Thanks!
In the area around RDU with an acceptable commute, shop at $400,000 and you should be able to buy at or under $500,000.
I'm serious.
Then, you have to decide if the area is nice and the house is nice. A lot of the latter depends on your housing wants and needs.
A rental is not a bad idea. Selling and bringing cash is a GREAT idea.
"Competitive" means:
That $400,000 house may have 20 offers as soon as it goes "Active" for showings, and even half a dozen "sight unseen," meaning the house is on the market "Coming Soon," and sells before going Active on MLS for showings, quite possibly before photos are posted.
It is a rough market, for sure.
Good Luck!
Ability to sell first (to then buy with cash), move into a rental for a while to get your bearings and search locally in the incredibly competitive housing market Mike has accurately summarized above?
Definitely a wise choice and ideal set of circumstances right now.
Doesn't sound like you have to worry about school-aged kids and the "moving twice" dilemma that comes along with that as some folks have when relocating.
My father retired to Hendersonville and happily spent the last 30 years of his life living there. But I don't think that you can compare Asheville airport to RDU or Charlotte.
We lived in Phoenix for 25+ years until 2012 when we moved to Raleigh. There are only two things that we dislike about Raleigh: The summer humidity and the liquor laws. Both were non-issues in Arizona. MilitarySpouse, the summers here are brutal.
One of my biggest concerns when moving here fifteen years ago was dealing with the NC summer weather. But that largely turned out to be a non-issue, if only because I'm a professional who works indoors and who has always had access to swimming pools. I've actually come to enjoy the dog days of summer and look forward to it now. That perfect balance between icing up while indoors combined with the thawing effect when I transition to either another building or my car is rather enjoyable to me.
And while this may be an annual perspective for me at this point, humidity down here is laughable when compared to what people living in and around NYC have to deal with. You don't know humid until you've had to ride the NYC subway, stand on a platform while wearing a suit and deal with the unbreathable air mixed with the newly released smells of the track bed and all of that biohazard material that's released into into the air because of said humidity.
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I just don't want to end up in an apartment for a long time....
