My wife and I have been casually looking to upgrade from our starter home which we've lived in for almost 10 years. We've had a lot of difficulties finding the perfect house for us in our area. The home prices here are getting expensive, and every home we look at is going to be a marginal upgrade which triples our mortgage. We are having a hard time sacrificing some of the conveniences to living in our current home. Just to name a few:
- Close proximity to stores and restaurants
- Parks within walking distance
- Cheap mortgage (under $1k per month), 4% rate
- Inexpensive utilities and low property taxes (since we bought in 2016)
- House needs no updates
Living in our current home also has its downsides:
- Neighborhood is right off a highway (constant noise)
- Lower income families and no HOA, some houses look vacant
- Data Center is planned to be built less than a mile away (in a year or so)
- Major lack of storage, feels cramped
A house came up outside of my hometown in a small rural town of about 6k people (20-minute drive to the nearest stores/restaurants). We never considered moving out that way, but it's in a nice neighborhood with a relaxed HOA. The house has a ton of potential and could be turned into our dream home with the right updates, but it lacks all of the convivences we have here. We feel the need to move on before the data center is built, but we aren't sure if living in a more rural area is for us. We are in our mid-thirties with no kids and work remotely, so nothing is holding us here. I keep saying we could always move back if we don't like it, but who knows how the market will look (we are already getting priced out). A home of this size in our current area would go for $200k more easily, which is why this home is tempting.
I'm curious to hear your thoughts or what you might do. I can provide more info if need be.
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source https://www.reddit.com/r/RealEstate/comments/1wvwwtz/potential_dream_home_but_not_in_a_dream_area/
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