Author Topic: Buying a house out of state?  (Read 1385 times)

appleguy

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Buying a house out of state?
« on: February 03, 2015, 11:51:05 PM »
I work in Technology and at my company people work from wherever they want in the world. After talking to my manager, we have the option to move wherever we want with about 6 months notice to the company so I can transition to being a remote worker.

All that said, my wife is a school teacher and wants to wait a few years to move out of state, but when we do she really wants to move to Phoenix as it would be better for her health and well being.

In the Denver metro area, we'd be hard pressed to find a decent house in the sub $200,000 range without a lot of work. But the Phoenix market is totally different, you can find houses from $150,000 to $200,000 that meet our desired living criteria, don't need much work and overall seem like a good deal (been to a bunch of open houses and talked to lots of locals). We like the town and want to move just not yet.

So with Apple building in Mesa and an influx of new employers I'm concerned that housing prices will begin to rise. We want to buy a house in Phoenix this year, rent it out, with the intention of moving in 2-3 years.

How wise is this plan?

How feasible is this plan?

Any advice?

arebelspy

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Re: Buying a house out of state?
« Reply #1 on: February 04, 2015, 10:22:42 AM »
I wouldn't buy it unless it made sense as a rental on its own, or it was your dream house and you didn't care about losing money.

I also wouldn't be buying it to try and time the market, personally.  But if you want to speculate on housing prices, that's your call.  :)
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huzar

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Re: Buying a house out of state?
« Reply #2 on: February 04, 2015, 12:03:51 PM »
The Apple data center in Mesa is supposed to create 600 engineering and construction jobs... whatever that means. Hardly a large influx of new employees.