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So getting back to my original inquiry. Is it possible to buy what I want within my budget in a safe area?
We probably won't buy a new build (although potentially we could) but on those links I posted would those be safe areas? Or should I eliminate them due to safety? There could be other houses in those areas even if I didn't want that particular builder.
I know that trying to figure out safety long distance is difficult. I live in an area that is well known to be one of the safest. Yet in one of the surrounding suburbs while it is overall very safe there is one part that is not. On a map it doesn't look all that far away (10 minutes I guess) but really has no impact at all where I live. But if the situation is that $450k will absolutely not buy a house in a safe neighborhood then I would want to know that.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by Koshka2
... Is it possible to buy what I want within my budget..? Not likely possible in Vancouver, WA to buy a home at your specs for $450k during RE market highs of April 2022
...
I know that trying to figure out safety long distance is difficult. ... if the situation is that $450k will absolutely not buy a house in a safe neighborhood then I would want to know that.
It is not at all hard to determine safe areas from a distance, there is a lot of available information posted and ways to contact people in specific areas. - Safety can be subjective. Most of Vancouver is pretty safe, a few areas are a bit sketchy. (East Fourth Plain and some of Orchards and Hazel Dell, for my criteria). As you mentioned, you can be fairly close to non-desirable areas, and still not negatively affect your QoL.
As a senior myself, with ~40 yrs in Vancouver area, I'm not keen on your chosen areas, but they may be fine for you. I would not want a new build, nor a 2 story on a postage stamp in a new area (Where I do not know how the neighborhood will end up). So our criteria are very different.
I would rather live in an established area with older (but not necessarily vintage) homes. (You don't want that)
I prefer rural / smaller towns. (You don't want that)
You have a lot of choices, but only you can decide where your latitude for adjustment is. If PNW region is your choice, you may have to look to areas further from metro areas, or a different class / style , size of home. All criteria choices can easily be weighted in a spreadsheet and spit out where you can consider to meet you budget and criteria.
Financially, I get 10 - 12 % returns on my RE investment properties, so having $450k wrapped up in a personal residence equates to equivalent rents (or income) of $4500/ month. I can rent a home nearly anywhere in the world for $4500/ month. Concessions may be necessary in HCOL areas as SF, Seattle, NYC, Singapore, Tokyo... but I don't plan to live there. With the upcoming changes to Medicare (privatization), we will likely be banned from the USA as a consideration for LT aging / living due to medical costs. Much of the world (including western Europe) have far less expensive rents than the USA. A retired couple can obtain good medical coverage for $800 -$1200 / yr, vs $800+ / month. Drug costs are about 1/10th, but food costs are slightly higher the USA in most countries.
Do consider your future property tax obligations if buying in WA. Unlike Texas, WA is a full disclosure state, and you will be paying taxes based on your full purchase price, and whatever the assessor can justify adding to your value. Mine have gone from $800 / yr to ~$16k / yr. (Same house, just older and more worn out)
Not likely possible in Vancouver, WA to buy a home at your specs for $450k during RE market highs of April 2022
Thank you. Your comments are helpful (although if anyone else would like to weigh in I would be interested as well).
Obviously, as you mention, we are different in terms of what we would each like. There are a few things about my criteria that are more flexible. So the basic criteria:
1. Not above $450k although perhaps we could consider up to $475 depending on what happens with our house sale.
2. Location is a bit flexible. Any place a live needs to have a decent hospital within, say, 30 minutes and really "good" hospitals within an hour away. This is the primary reason I would not consider more rural areas. However, a suburban city with its own hospital that is no more than 1 hour away from a metropolitan area with at least 1 million people would work. So -- for Washington that would seem to a place no more than an hour away from Portland-Vancouver or an hour away from Seattle-Tacoma. But the specific area I lived in would need to have a decent hospital within 30 minutes.
3. I don't want to live anywhere super "red" politically. I live in that kind of area now and I am ready for a change. On the other hand, it doesn't have to be super "blue" either. An evenly divided area would be perfectly fine.
4. House built no earlier than 1990, with a strong preference to not built earlier than 2000. This is because I think that upkeep will be easier with a newer home.
5. A new build is not at all required and is not preferable. I might consider one if that was all that was available but I would prefer to buy a 5 year old house, for example, than a new house.
6. Lot size is not terrible material although I would prefer the postage stamp to a large lot. Again, I want as little yard upkeep as possible but with a single family detached home.
7. House can be quite small but needs at least 3 bedrooms (DH and I each have a study area). One story is very preferable but would consider a 2 story.
You mention that you don't think $450k is doable in the Vancouver area. I had given some links to specific new builds that seem to meet my criteria. I probably would not buy most of these (I don't love D R Horton for example) but am interested in why you think they are not doable now. Is it that you think they would sell significantly above listing price or is that the location is bad.
We like the PNW area for weather reasons (we don't really want Texas heat and humidity) but am willing to consider other states that meet our criteria. Washington is preferable to us over Oregon for a variety of reasons. We looked seriously at Las Vegas/Henderson but their housing market seems more insane than anywhere and the summer heat is a negative.
What about the below area? Is this area too close to Hazel Dell or is it objectionable for some other reason? (I would pass on the house since it is D R Horton but I'm just asking about the location)
Hi...I live in Ridgefield. We have only been here 7 years, and really enjoy the area. I think $450 should be doable, particularly for an older home in the downtown area. I would recommend the Zillow home yo listed. It is a new subdivision that has had a lot of shoddy construction issues, resulting in some unhappy home owners. It is in an area that is mostly commercial/industrial, rather than your normal neighborhood. However, there are many other subdivisions in that area (east of I5) that are going up. We are near both Legacy in Salmon Creek and HealthSouth in Vancouver. We belong to Kaiser and have had to venture to Portland a few times for some surgical services, but all general medical needs are handled here.
Houses are selling very fast here, with many offers the first few days. Here is a house downtown that just went on the market that might meet your needs, though is slightly above your price. I am sure this house will sell fast.
Have you consulted with a realtor? That is the best bet around here, although I am sure Stealth will disagree. If you would like a referral to a realtor to help with your search, sent me a PM.
Good luck with your search.
Just found this link. I think these are townhomes. The location is nice, semi-rural, but convenient to everything. I think these are all townhomes. They are adjacent to greenspace and very close to subdivisions much more expensive.
It is in an area that is mostly commercial/industrial, rather than your normal neighborhood. However, there are many other subdivisions in that area (east of I5) that are going up.
Thank you! That is all very helpful. One of the things that I know to be careful of where something is located in relation to other things. One reason also that I tend to shy away from new construction is because of concern of build quality.
I thought a lot about the option of a townhouse. It does have some appeal. But I tend to prefer a detached house. I had a townhouse many years ago and it was just a disaster when the managing board didn't take care of a roofing problem that affected all the units until it became a huge very expensive problem. In a townhouse I can't always control what happens with regard to the property maintenance/repair. So, I come down on preferring a single family home even if on a tiny lot.
That new listing is indeed the type of thing that would be the ideal for us. Almost makes me wish that I was in the market now. Realistically we probably won't get listed here until June and then it takes however long it takes to sell. This is an area where houses usually do sell very quickly. We are probably looking at August (perhaps July or September) before we can buy.
We don't have a real estate agent yet. We are thinking about taking a trip up there just to look around and scout things out in a few weeks.
Quote:
Originally Posted by StealthRabbit
Do consider your future property tax obligations if buying in WA. Unlike Texas, WA is a full disclosure state, and you will be paying taxes based on your full purchase price, and whatever the assessor can justify adding to your value. Mine have gone from $800 / yr to ~$16k / yr. (Same house, just older and more worn out)
I meant to ask about this in my reply to you and forgot. I am interested in how property taxes have tended to rise. I've read the information about current rates and the 1% thing and how it has lots of exceptions to it and doesn't limit individuals increased takes to 1% and instead limits the tax districts increase as a whole. I think I understand generally how that works. What is unclear to me is what kind of increases am I likely to see in taxes over time.
As you probably know, Texas has very high property taxes. The rate I pay is much higher than those in Washington. However, as someone over 65, my school taxes and city taxes are capped. And the assessed value can't increase more than 10% each year. So, for example, I just got my new tax appraisal and the value went up by about 15%. However, the appraised value for taxes could only up 10%. For my school and city taxes I won't see any increase because I have a tax freeze. For my county taxes, they will go up 10% (about $200). Next year, if the values don't go up more than 10% they can get the increase to market value they couldn't get here.
My tax rate is about 1.65% which is more than your rate. Now, I know it won't be capped there but the difference in rate is really substantial. I do realize the market value of the house will go up each year. What percentage do people's taxes typically go up per year (assuming no change or upgrades to the house)?
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Sept will likely be a better time to buy, as spring rush is on now (People changing school districts during summer, and getting top dollar and highest number of buyers during spring)
I do most of my buying in the dead of winter.
I don't buy or live in cookie cutter homes (subdivisions). My home is my retreat, and when I need to sell, I don't want to be on the market with 500 'me-too' tract homes. + I am not keen on what usually happens to new build subdivisions at lower price points. I prefer established neighbors, services, landscapes. I don't do noise well (Dogs and kids and boom boxes). I prefer older homes, but newer than 1930. I like to have something solid to work with when I repair them. New homes and especially new appliances are not built very well (Planned obsolescence). Nearly all my appliances / kitchen tools are from 1970s or earlier. I have some electric appliances from the 1920's they work great!
I have always been fortunate to live in the country with an excellent view and really nice neighbors who have been there 20+ yrs/ Tho when we first arrived in Vancouver, we rented for 2 yrs near Evergreen Memorial Gardens (Joe's Place produce), so we could find an ideal spot to buy, (An in-town U-pick fruit farm adjacent to a county park and the old poor farm (Heritage farm / WSU extension).
I don't care to 'bother' realtors *They have other customers to pamper, and I don't like holding hands or interruptions to my negotiation and sale and closing process. I have been forced to use realtors in (3) of my 40+ transactions, and they were stressful, burdensome, slow, and expensive. I don't have time for that. RE is easy-peezy to do yourself. (Quickly, concisely, done deal.) Then Move on with your property that you got on your terms and was actually something you found, wanted, and could afford.
Ridgefield is fine for many people I know, and would have been convenient when I commuted to Bremerton everyday doing elder care for 15 yrs. I prefer the Columbia Gorge. I'm a WY ranch kid, used to strong winds and adverse weather. And I like my view (and neighbors). And 16 min to PDX.
If you are concerned about quick and frequent access to medical, then being north Vancouver, or Ridgefield is probably an okay choice. I can be to 9 hospitals in less than 30 min (including OHSU). I live very dangerously, but have not needed a hospital, yet. Hopefully never need one. But since I can't afford USA HC, nor do I trust USA HC built on insurance industry. Lost (4) friends / and ex-coworkers in last 3 weeks in PDX metro. Hospitals couldn't save em. No surprise.
Enjoy your preview trip. Visit as if you live here (We always stay with locals who share our interests, not hotels or air B&B). We ask a LOT of questions and always visit the Tax assessor, Planning and development dept, Sheriff, courthouse, library, attend volunteer events we would be part of if living there, take lots of notes when asking questions.
I know little about our property taxes. I know they go up.I know the assessed value of our home is now over $600k, much higher than we purchased 7 years ago. Our taxes are about $4509/year. I am a strong proponent of school levies and bonds, which have had a hard time passing lately because they need a super majority. If the bond being voted on next week passes, our taxes related to the school bond will go up about $15/month. WA does not have state income tax, so just about everything else is taxed. I think you can assume taxes will go up no matter where you live. Husband says our taxes were about 36k 7 years ago.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
31,460 posts, read 51,904,192 times
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Quote:
Originally Posted by Koshka2
...
I meant to ask about this in my reply to you and forgot. I am interested in how property taxes have tended to rise. I've read the information about current rates and the 1% thing and how it has lots of exceptions to it and doesn't limit individuals increased takes to 1% and instead limits the tax districts increase as a whole. I think I understand generally how that works. What is unclear to me is what kind of increases am I likely to see in taxes over time.
I average 17-22%/ yr increased taxes over the last 10+ yrs.
correct the tax district has a cap, but not individual properties. My commercial properties are very easy to contest and keep property tax reasonable, but residential property has been difficult to retain reasonable taxes. nearly impossible to fight, tho I spend a lot of time in Olympia doing so. My WA (residential) Properties are assessed at about 150 - 200% of TMV, over 10x what I paid for property. My Texas props are assessed at less that 50% of true market valuation, and VERY easy to contest (with documented proof)
As you probably know, Texas has very high property taxes. The rate I pay is much higher than those in Washington. However, as someone over 65, my school taxes and city taxes are capped. And the assessed value can't increase more than 10% each year. So, for example, I just got my new tax appraisal and the value went up by about 15%. However, the appraised value for taxes could only up 10%. For my school and city taxes I won't see any increase because I have a tax freeze. For my county taxes, they will go up 10% (about $200). Next year, if the values don't go up more than 10% they can get the increase to market value they couldn't get here.
My tax rate is about 1.65% which is more than your rate. ...
My last rate in WA was 1.475% on 200+% TMV. My income is too high to get senior deferral,(over $35k due to Roth Rolls) No veteran status which is a BIG thing in Texas. (A recent Texas transplant to WA on C-D quickly fled back to TX over the property tax situation.)
Just be wise and do your homework.
I have frequent conversations with my WA tax assessors and board of Equalization in 3 counties. (2 'other' counties are better than Clark) I have had properties in 6 different WA counties.
In Texas, we have a very quick discussion about once every 5 yrs. (and make significant progress)
My property equity gains in WA average about 8-10%, but that is during the last 30 yrs (High gain period). That will not last. BTDT in CO and WY where properties LOST 30% in bad times. When we arrived in WA (1980) things were very bleak. One Vancouver home we bought in 1985 had been on the market for over 10 yrs and eventually decreased by 2x in asking price.
Last edited by StealthRabbit; 04-25-2022 at 02:21 PM..
When we moved from Waco TX to Camas WA the value of our home nearly doubled for what was essentially a comparable home in a comparable neighborhood. However our property tax bill was almost identical. In other words, the higher property values and lower tax rates in WA essentially canceled out the lower property values and higher tax rates in TX and it all came out in the wash.
That is just a sample size of one. But roughly speaking I would guess that is going to be the experience. You will pay more for a comparable home in WA but your property taxes will be about equivalent to what they were in TX for a comparable home.
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