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Updated about 5 years ago,
House Hacking 1st time home buyer
I am a first time home buyer and I'm looking at a 5 bedroom 4 bath home in a small town of about 20 thousand. The home is in a low crime neighborhood that is about 5 blocks from a grocery store, strip mall and public transportation. The school districts in a scale of 1-10 are a 4 but I don't have children so I'm not overly concerned about that (the home also has a deck but no back yard space for children). The home has an attached mother in law suite with a septate entrance that can be used as a stand alone 1 bedroom rental. There is a small college near by and a large business that often has individuals come from other states or countries for temporary work assignments (3 years). The home is in tip top shape and is about 10-20 mins away from more populated communities (over 100,000 people). Each surrounding community is developing their downtown area, including the community where this home is. In the last year they have built a location for concerts and other events in the down town area and they are developing a few more stores downtown. This home is about 8-10 mins from the closest downtown area and is surrounded by homes that have less square footage and have been maintained well.
My concern is that this house is not in the path of the greatest progress and may be difficult to resale if I need to sell it. Is it better to purchase the house that I'm looking at now and start renting it out or wait to purchase in an area that will potentially grow?