Raleigh, NC · Member since 2018 · 2 posts · 2 votes
Hello,
I've noticed a lot of for sale properties in Sanford, NC over the past couple years, and it seems to be a buyer's market there. Now that the Raleigh area market seems tighter and more of a seller's market, does anyone have experience with owning rentals in Sanford? Do people rent there, as it's only 30 minutes from Raleigh? or is it considered too far out still for people to even consider?
@Nicolas Celle just in general, buyers market (where there are many properties for sale and not enough buyers) just tells you the location is not as desirable. More people want to leave, then to move there.
However people rent everywhere for the right price. Sanford is not 30 mins from Raleigh. Most likely a commute to work in Raleigh will likely be 45-60mins depending on where the job exactly is. If you are a renter, I don't see any reason why you would rent an hour drive from your work. So you might find a renter who's job is in Sanford. If you work in Raleigh, it is very easy to rent in Raleigh.
If you are buyer, the situation is different. You will likely accept longer drive time in exchange for more affordable house, more space, etc especially, if you get priced out in Raleigh. But even that, Sanford is quite far for that. Wendell, Fuquay Varina etc would likely be the closer options to Raleigh and still affordable.
If you want to a place that appreciate well and is easy to rent, then purchase something close to where all the work / entertainment / shopping is.
@Nicolas Celle just in general, buyers market (where there are many properties for sale and not enough buyers) just tells you the location is not as desirable. More people want to leave, then to move there.
However people rent everywhere for the right price. Sanford is not 30 mins from Raleigh. Most likely a commute to work in Raleigh will likely be 45-60mins depending on where the job exactly is. If you are a renter, I don't see any reason why you would rent an hour drive from your work. So you might find a renter who's job is in Sanford. If you work in Raleigh, it is very easy to rent in Raleigh.
If you are buyer, the situation is different. You will likely accept longer drive time in exchange for more affordable house, more space, etc especially, if you get priced out in Raleigh. But even that, Sanford is quite far for that. Wendell, Fuquay Varina etc would likely be the closer options to Raleigh and still affordable.
If you want to a place that appreciate well and is easy to rent, then purchase something close to where all the work / entertainment / shopping is.
thank you for your answers. Sorry I took some time to reply. @Jiri B. I appreciate the thoughts. I always try to put myself in people's shoes. There is some work in Sanford, but not that much obviously. I used work on a project at Coty and did the drive down, but living in Apex it was only a 20 minutes drive. I don't think that in this area I'd be willing to drive 40 minutes to work, although with Covid people work remotely more, and Sanford is not too far from many things now, especially as 540 gets completed. But I agree I would probably not rent there and look for something closer.
We're looking in Durham now as there are some opportunities there.