I've been looking for a new house for a couple months and nothing's come on the market. Everything is going pretty quickly because of that too (which is also scary because I feel like it's forcing the price up). I decided to go ahead and list mine and got two offers the day it was listed. I'm happy with the offer, but now I don't know where to live. I want to be within biking distance to work and want a yard for my dog to run around in and for a garden, but I'm not picky otherwise. I'm looking in the Richmond, VA area. I love the style and price of the houses in the areas that are not so great, but I keep hearing to stay away from those areas. The ones in the better areas are fairly significantly more expensive. The contract on my current house is allowing me to rent it back until 6/20, so I do have 6-8 weeks to play with to make sure I can close on time.
I'm half tempted to buy a cheap house in a crappier area of town so that I can be mortgage free quickly. The resale value of doing something like this isn't really there though. Am I better off in spending (a lot) more in a better area for safety and investment reasons? I'm not looking for my forever house, so this needs to make sense 5 years from now too when I'm wanting something different/ready for the more dream hosue. I'm almost 29 and have been in my current home for 3.5 years.