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Hazel Green- too far for commuters?
Hey y'all, I'm an out-of-state investor working with a realtor on my first investment property. I had initially sent her several listings in Madison proper, but apparently all 3 were already under contract. She mentioned the market for resale properties is super-hot in Madison right now, and she suggested I check out a certain planned community nearby. I just checked Google Maps, and apparently the development is in Hazel Green, just off the 431. I see that makes it about 30 minutes from (for example) Redstone Arsenal, which I know is a major employer. It's only about 19 min from the big new Facebook Data Center, which doesn't sound too bad to me. That said, I'm not a local and I'm not sure what commute time most locals are used to. Would these commute times make my rental unattractive to a local renter?
Also, would y'all agree with my realtor that a new construction home is a viable path forward, considering the competitiveness of the local market? I do like the idea of buying a home where everything is still under warranty, although the idea of buying something that doesn't exist yet gives me some pause.
Quote from @Richie Thomas:
Hey gang, big update from my end- just had my offer accepted on a 4-BR SFH in Madison proper! It was an MLS listing and it did go over asking price, but honestly not as much as I was led to believe it might. My realtor said it's common for listings to go $30-50k over list price, I got the property for $18k over asking. Not a brand-new build but age-wise it's not even a teenager yet. :-)
@Michael S.I took your advice to heart when deciding whether to purchase in Hazel Green. And (hopefully) this property will be less sensitive to market corrections, as you mentioned. Maybe I'll look again at Hazel Green in the future since it seemed like a lot of people felt there was upside there, but you asked some tough-but-fair questions that I'm also curious to hear the answers to. All in all, I feel like Madison is a good fit for me to get my foot in the door, build my local team, and get to know the local market better.
Curious, did you eventually invest in the Hazel Green area? How did your 4BR SFH do in Madison proper these last 2 years?
Ex-Californian (from OC) here, the commute is nothing. Traffic here is not bad. I think buying in Hazel Green is no problem.
