Best Place To Buy Property?

[thedukeryan]

Me and my brother have been talking about relocating. In fact he is to the point that he has his house on the market as we speak. He is the VP of sales for a large nutritional company. He travels enough with his job that he has the flexibility to live where ever he chooses. I am self employed and make a very healthy living selling online. Both of us can pack our bags and take our jobs with us. My goal would be to find a nice place in or close to move in condition in the $100k range. I am not married and have no kids and currently live in a nice brick/stone 4br. I love the house but see my self out growing it. I think I have like 1,500sqft. My ideal would be a 3-4 br with large bedrooms, master bath, quality newer construction etc. The market where I am located is still very healthy. Probably up 5-10% this year. Comparing nearby comps I could probably get $160k for my house which would put $35k in my pocket. I could scrounge up another $60-$70k and likely pay cash for the right deal. If your where a prospective buyer with $100k in your pocket and the flexibility to pack up and go where would you be looking?

 

[rbh]

Re: Best Place To Buy Property?

I am thinking you have a couple of things to consider, first were do you see yourself in ten years, married, kids?
What climate do you prefer, summer all the time or all the seasons.
house or house and acreage
dial up or dsl
There is lots to be considerd, make a list.
rob

 

[thedukeryan]

Re: Best Place To Buy Property?

Very good and valid points. I see myself married in say 5 years and kids within 10. I love land but also don't wanna be stuck out in BFE either. Would prefer a nice lot in a convenient location. All seasons doesn't bother me to much but my ideal would be summer year round. And being the internet junkie that I am I would need high speed. I know the market in Flordia is soft but how soft? Anything nice in the $150's? Right now I am in the playing/dreaming stages. Dont see myself making a move for another year or so.

 

[BWR1953]

Re: Best Place To Buy Property?

Very good and valid points. I see myself married in say 5 years and kids within 10. I love land but also don't wanna be stuck out in BFE either. Would prefer a nice lot in a convenient location. All seasons doesn't bother me to much but my ideal would be summer year round. And being the internet junkie that I am I would need high speed. I know the market in Flordia is soft but how soft? Anything nice in the $150's? Right now I am in the playing/dreaming stages. Dont see myself making a move for another year or so.

Florida is very soft and getting worse. Prices are down significantly and fell another 20% over the last year in my area.

Yes, you can find what you want here, but be prepared to stick around awhile before prices rise. Could be a decade for sure before you break even. Florida population actually DECREASED by 50,000 over the last 12 months. That's the first population loss in some 70-plus years.

But the BIG question is... how do you feel about hurricanes?

 

[thedukeryan]

Re: Best Place To Buy Property?

I think I can live with huricanes. Thats what insurance if for right? Just for fun where would you suggest I look? Looking for a nice area in the $100k-$150k range. Not looking for slums or bared window type communities.

 

[jkust]

Re: Best Place To Buy Property?

Just trying to get a sense here...where do you live now that you can buy your current house for 160k? 160k would be closer to a down payment on a 4 bed brick/stone now days in my midwestern area. Those numbers seem low to me even in the inner city.

 

[BWR1953]

Re: Best Place To Buy Property?

I think I can live with huricanes. Thats what insurance if for right? Just for fun where would you suggest I look? Looking for a nice area in the $100k-$150k range. Not looking for slums or bared window type communities.

It's not just about insurance. Living through big storms is an experience in and of itself, even if you don't have a direct hit. Evacuation nightmares, etc. And there are STILL folks who haven't fully collected from their insurance companies after hurricane Charley in 2004. Really isn't a light-hearted subject. Being "prepped" for several weeks to several months of living supplies during the season is just one factor. Remember Katrina? Much to consider.

 

[BWR1953]

Re: Best Place To Buy Property?

Here's one I randomly found on zillow.com. Just sold for $90k. Big house. Nice area.

http://www.zillow.com/homedetails/7620-Mt-Laurel-Dr-Zephyrhills-FL-33540/46471591_zpid/

 

[tashasdaddy]

Re: Best Place To Buy Property?

Florida's market is in the toilet. we have lost, $100,000 in value (equity) in the last 5 years. our mortgage in now higher than the market value of our house, and we bought cheap.

 

[BWR1953]

Re: Best Place To Buy Property?

Florida's market is in the toilet. we have lost, $100,000 in value (equity) in the last 5 years. our mortgage in now higher than the market value of our house, and we bought cheap.

Yeap. My property is down 53% since I moved in here about 3 years ago. But it doesn't matter to me, because I'll be here in this house for another 30 years. The cyclical bit doesn't really bother me because I don't NEED to sell.

This is my home and they'll have to drag my 95 y.o. carcass kicking and screaming out the door! LOL!

 

[lowkee]

Re: Best Place To Buy Property?

I don't think it's possible for someone else to choose a new home location for you. Only you know your current and future hobbies and what you feel is most important. There are simply way way too many variables.

To begin your search, you can always open up a magazine which covers your favorite hobby and look where they go for their stories. Odds are, those stories came from there for a reason. As an example, I subscribe to a boating magazine and it had a 50 lakes in 50 states article in which the man who just finished it mentioned liking Kentucky Lake the best. As it turns out, I have been looking to move there because it seems perfect to me, but if I didn't know about it prior, that would have been a perfect indicator to invest some research into that area.

Good luck

 

[tashasdaddy]

Re: Best Place To Buy Property?

Flager County, FL (Palm Coast area) very depressed market, Ormand Beach area, very nice, ocean, lakes. 1 1/2 hours to Jacksonville, Orlando

 

[Bob_VT]

Re: Best Place To Buy Property?

This is my home and they'll have to drag my 95 y.o. carcass kicking and screaming out the door! LOL!

Make arrangements for a video of the kicking and screaming.... it would make for good You Tube fodder

The Carolina's seem a bit more calm and that area has tempted me for quite some time. The wife on the other hand wants to stay in VT which still has a good housing market.

I have watched the values in FL drop however, there are places that have been harder hit...... like Detroit as an example

 

[blackhorse]

Re: Best Place To Buy Property?

Florida housing market is depresssed, an ideal time to buy. Unlike Detroit, it will come back soon and strong and has no state income income tax. Cost of living is reasonable.

 

[v1_0]

Re: Best Place To Buy Property?

Hmmm.... I'd say focus on the land. You can put a trailerhome on it, at least temporarily, if you want. Point is - the house can be built/upgraded as time & money allow, to whatever custom needs you want. You can expand it later (or replace, in the case of a trailerhome type) when things change.

The same is not easily true for land.

Either way, since you have a lot of flexibility - the first step is to figure out what sort of climate you like the best for day to day living in. That should start to limit your range.

Next you need to decide what sort of area you like to live in - do you like urban, rural?

Are there any things that you *need* to have nearby? Ski slopes, etc.

You should probably also be comfortable with whatever larger cities are nearby.

Finally, sounds like you are in an internet business. I think different states have different laws/policies about collecting taxes, etc. You may want to look into that sort of thing.

You probably want to narrow things to a list of criteria *before* you do any looking. As detailed as you can be. Otherwise, it will be a full time job just reviewing options. (You have more flexibility than the average home seeker, so would drive a realator crazy...)

 

[DavidW2009]

Re: Best Place To Buy Property?

BWR1953: "But the BIG question is... how do you feel about hurricanes?"

I just sold one of my houses in S.C. to a family that 'fled' South Florida.

And it wasn't just about weather hurricanes, or taxes, or real estate value, or insurance, though those things are important.

BTW, IMO, it's a mistake for people to view their homes (not talking about rental property and business property) as an "investment" and an ATM machine. Homes are a place to live, raise a family, in a community of like minded people.

 

[KRH1326]

Re: Best Place To Buy Property?

My inlaws retired & moved away and built a real nice mini mansion in Durant's Neck NC. It was on the Arberlmarl ( excuse spelling) Sound, in behind the Outer Banks.

I am a northern mountain boy. I dig the heavy snow and I enjoy winter. So I would never have considered moving there, the offer was there tho.

BUT IT WAS THE BEST PLACE, short of Alaska, that I visited. We would go visit and stay with them for 2 weeks around Thanksgiving.

Thier house was right on the sound with a dock and all.

EVERY SINGLE DAY went like this. Up before dawn, out in the 15' Carolina Skiff and catch all of the schoolie stripers ( The local folk call them rock fish, I think) I could handle. Back in by 11:00 am for a killer breakfast/ lunch and a nap. Back up at about 2:00 - 3:00 pm and hightail it over to some farm areas that I was given access to, for the afternoon deer hunt. Back home for dinner and bed after sunset.

I really could have gotten used to that full time!!!
Even if the deer were tiny puppy dog size and they actually use dogs to hunt deer. But Hey, whatever floats your boat.

Hurricanes affect the whole East Coast. My inlaws don't live there anymore. A hurricane destroyed thier house and even killed a nice old guy that lived accross the road. That was enough for them, they moved out, but we all still talk about what a great place that was.

 

[PW2]

Re: Best Place To Buy Property?

$100 k for a livable house limits your choices on where it is located. There are some areas that will fit, but not too many until you hit the $200 k range.

 

[And-Con]

Re: Best Place To Buy Property?

Where I am (lee county, fl) I watched a house, 4 br 3 ba in leehigh, go for 45,900 this morning, it sold in less than 5 minutes at auction. http://www.leepa.org/Scripts/PropertyQuery/PropertyQuery.aspx?STRAP=23442608000290010 Now is this the greatest neighborhood, no, but would I live there, yes, any day of the week. So, yes there are deals down here, but that's a newer home, which any other day I would say is good but with our Sheetrock issues I'm not so sure now. Good luck and i really must advise you to head south, I have yet to quit boating this year, and am not planning on it.

 

[moonfish]

Re: Best Place To Buy Property?

Just trying to get a sense here...where do you live now that you can buy your current house for 160k? 160k would be closer to a down payment on a 4 bed brick/stone now days in my midwestern area. Those numbers seem low to me even in the inner city.

Inner city? Who needs cities? If you want to live cheap and spend your money on toys, you have no need of cities. In my "midwestern area" 160k will do quite a bit.

IF it was me, I'd want to hunt and fish and live on the cheap and have a giant shop and live like a crazy inventor/Ted Nugget.

Only the OP knows what he wants. If he wants bikinis and party boats, there are places for that.