We will be moving in a few weeks, and plan to sell our current primary residence. However, our city has an Amazon fulfillment center opening later this year, and my wife thinks that this will put upward pressure on housing prices and we should hold on to our house for a few more months. I disagree, but figured I'd seek the input of others before dismissing the idea. First, the basic data on our house:
-1500 square feet, 3 bedroom 2 bath + office
-small lot
-2001 build
-Planned list price is around $300k
Towards the upper end of what could be considered a "starter home" for a middle class family in my area. Indeed, this was our first home after deciding to move out our apartment.
Factors in favor of waiting:
-We can "afford" it from a cash flow perspective
-Our home is a convenient distance from the fulfillment center, which could make it more attractive to the people moving to work there
-1,000 jobs will be added via the fulfillment center, and many of those will be transfers from other Amazon facilities. People will be looking for places to live, and inventory is already low. Particularly for homes in our size/price level.
Dissuading factors:
-Most of the jobs are lower paying jobs. More likely to be apartment renters than home buyers (at least in my mind).
-Money now is better than money later, and if we hold on to the house we lose the interest we pay.
-Maintaining two homes (even though we aren't moving too far away) would be annoying.
-Market timing rarely ever works, and I'd rather avoid it as a matter of principle.
Anybody have experience with areas that Amazon has build warehouses at? Have home prices significantly increased? Any other considerations? Should I tell my wife no and start sleeping on the couch?
