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A new home in Renton or Bothell????

daswooshvydaswooshvy
edited July 2008 in Seattle Real Estate
I'm currently renting now and looking for a new build and trying to take advantage of the "buyers" market. I found some in Renton and Bothell. Any opinion of which area is going to appreciate more?

I think I would only live in either location 2-4 yrs max. Or maybe I should just keep renting.. who knows...

Comments

  • EastSiderEastSider
    If you are looking to stay only 2-4 years, definitely do the analysis between renting & buying, especially in this market. Use a good rent vs buy calculator to determine if you should buy or rent. Check out http://www.nytimes.com/2007/04/10/busin ... 26&ei=5070

    ....from http://smariner.blogspot.com/2008/05/co ... -home.html
    Note that cost of owning a home = [Cost of the house] + [Closing cost while buying the house] + [interest paid] + [taxes on the home] + [home improvements] + [Home owner dues] + [Maintenance] + [additional expenses towards utilities and/or extra commute] + [possible gains from the down payment, if this amount was invested elsewhere] - [The rent you would have paid if you did not own a home] – [income taxes saved after factoring for standard deduction]

    Profit/Loss after selling the home = [Sale price] – [Cost of owning] – [Realtor commission] – [sales/excise tax]
  • rose-colored-coolaidrose-colored-coolaid
    daswooshvy wrote:
    I'm currently renting now and looking for a new build and trying to take advantage of the "buyers" market. I found some in Renton and Bothell. Any opinion of which area is going to appreciate more?

    I think I would only live in either location 2-4 yrs max. Or maybe I should just keep renting.. who knows...

    Gee...in the midst of an unprecedented collapse in the housing market...planning on living there for 2 years, which even in normal/good times they say you can't recompense your costs...and considering Renton!?!

    Just hang tight.
  • SeattleMooseSeattleMoose
    Ok, where is the camera?

    This is a joke....right?

    You want to buy in the 3rd inning of a housing crash and then sell in the 8th inning?

    Knock yourself out! :wink:
  • EconEEconE
    another one of those "one post posters" should I buy a house thread.

    NO.

    Just like LHR said you should buy Herbalife instead.

    I prefer Amway.

    Now where's the guy with the overly polite broken English, a strong buy recommendation and a link to the worlds 4th shittiest scam website?
  • rose-colored-coolaidrose-colored-coolaid
    I love the neighborhoods these guys pick out.
    Dear Bubblers,

    I am now thinking now is the smartst time to bye a house. Wut are the best plases? I like the White Center. It should go up a lot. Or should I pick, Hill Top of Tacoma?

    Thank you. By Now? Bye Now!

    Real-Smart-Buy-Now
  • daswooshvydaswooshvy
    Thanks for the responses. You guys are good at answering questions about whether or NOT to buy, but if I'm already planning to buy, no one has answered Renton OR Bothell??
  • EconEEconE
    daswooshvy wrote:
    Thanks for the responses. You guys are good at answering questions about whether or NOT to buy, but if I'm already planning to buy, no one has answered Renton OR Bothell??

    Hmmmm....

    Renton or Bothell?

    Paper or Plastic?

    Should toilet paper unroll over the top or under the bottom?

    Some things you just have to decide for yourself.
  • rose-colored-coolaidrose-colored-coolaid
    daswooshvy wrote:
    Thanks for the responses. You guys are good at answering questions about whether or NOT to buy, but if I'm already planning to buy, no one has answered Renton OR Bothell??

    Um...

    I guess it depends on how you prefer your crime. High class? Bothell. Low class? Then go with Renton.

    Really, you can't go wrong there. :wink:

    Seriously though, why don't you drive out to each are for a Saturday and see what you think. I think Renton is about 30% slum, but that's just me. Then go online and look at traffic times from each location to where you work.

    Then sit back, relax, and live the high life as you lose money every month for the next 2 years before you walk away.
  • perfectfireperfectfire
    daswooshvy wrote:
    no one has answered Renton OR Bothell??

    Since that's a logical or I would say go for both. Lose money twice as fast.
  • mukohmukoh
    Bothell is a good spot depending on your commute. Renton might make it easier if you are going to eastside for work.
  • ira sira s
    Renton is far less than 30% slum, and there is still a lot of new construction going on there, and is a 15-20 minute drive to either Bellevue or Seattle.
    But....nobody knows for sure what's going to happen in the housing market, and if you're buying a place anywhere intending to hold onto it for only 2-4 years, you're taking a huge risk.
  • mukohmukoh
    Ira risk is in the eye of the beholder. I.E. depending on what the person buys for how much, and what they are able to get. If they are buying a $480k new construction in Renton. ROCK ON!!!!!
    Not a wise decision though.

    If they are buying a good deal, which there are a few out there then its an educated decision.
  • rose-colored-coolaidrose-colored-coolaid
    ira s wrote:
    Renton is far less than 30% slum, and there is still a lot of new construction going on there, and is a 15-20 minute drive to either Bellevue or Seattle.

    Sorry Ira, I like you but I call BS on your commute estimate. Sure you can make the drive in 15-20 minutes at 7:00 pm. But try making either commute in 20 minutes at 7:00 am on a weekday. Even a weekday that is a paid holiday will probably take over half an hour from Renton to Bellevue. And it's less than a 10 mile drive.
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