OT - Buying a House

[MattMang23]

Dude asked about Bristol and Meriden. They make Portland look like Utopia.

Yeah. The only conclusion I could draw from him mentioning those towns was that he's not from around here...

 

[auror]

A friend recently was talking to me about the idea of being "house poor", where essentially all of your money goes into the mortgage, taxes, utilities, insurance and upkeep. But, obviously the trade off is equity in a home.

I've read a line of thought that advocates to renting and put the difference in expenditures (between home owning costs and rent) straight into the market and that at the end of the day the market return would be comparable to what your houses value would end up being. I haven't ran all the numbers, but I intend to take a look into this.

While I completely understand the idea of home ownership, I think the idea that you are completely wasting money renting isn't entirely true; if you're making sound decisions with your cash.

Any thoughts?

NYT/Upshot has a very good calculator for that. Usually, the variable is how long you intend to stay in the place (and obviously the market's potential appreciation)

Is It Better to Rent or Buy?

 

[CL82]

Yeah. The only conclusion I could draw from him mentioning those towns was that he's not from around here...

I remember Meridan as being a nice middle class suburb but that was 40 years ago and from a very small sample. What changed or was I just not paying attention back then.

 

[CTBasketball]

I remember Meridan as being a nice middle class suburb but that was 40 years ago and from a very small sample. What changed or was I just not paying attention back then.

I’m from Southington. Southington residents tend to think this town is amazing. Everyone’s cousin and brother and grandpa lives here - it’s incessed no one ever leaves. Not that there’s anything wrong with that, the town is nice. I like it. But we tend to talk down on neighboring towns. See what I did here?

So everyone I’ve talked to back home says Meriden, PVille, Bristol, and Wolcott are all dumps and not to buy there. That’s why I asked I wanted an outsider opinion.

 

[Dream Jobbed 2.0]

I think the Rocky Hill-Cromwell-Newington-Berlin run of CT is one of my least favorite places on earth. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

 

[ctchamps]

I’m from Southington. Southington residents tend to think this town is amazing. Everyone’s cousin and brother and grandpa lives here - it’s incessed no one ever leaves. Not that there’s anything wrong with that, the town is nice. I like it. But we tend to talk down on neighboring towns. See what I did here?

So everyone I’ve talked to says Meriden, PVille, Bristol, and Wolcott are all dumps and not to buy there. That’s why I asked I wanted an outsider opinion.

You're right. My brother lives there.

 

[Robertelamin]

I think the Rocky Hill-Cromwell-Newington-Berlin run of CT is one of my least favorite places on earth. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

Turnpike Trash.

Also outside of the cities, Florida seems like one enormous Berlin Turnpike.

 

[HooperScooper]

Where do you work? Hartford? Noticed you aren’t looking east of the river. Commute to Hartford is miserable from any direction.

Try a commute in Boston these days. Miserable is a relative term. I'd kill for the worst commute in the Hartford area!

 

[TRest]

I’m from Southington. Southington residents tend to think this town is amazing. Everyone’s cousin and brother and grandpa lives here - it’s incessed no one ever leaves. Not that there’s anything wrong with that, the town is nice. I like it. But we tend to talk down on neighboring towns. See what I did here?

So everyone I’ve talked to back home says Meriden, PVille, Bristol, and Wolcott are all dumps and not to buy there. That’s why I asked I wanted an outsider opinion.

I'm from Plainville originally. It's a smaller Southington with no McMansions. My brother stayed there and raised his family, no issues. You couldn't pay me to stay there because of the local's weird loyalty to a mediocre place.

 

[DaveHuskiesFan]

I think the Rocky Hill-Cromwell-Newington-Berlin run of CT is one of my least favorite places on earth. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

Interestingly enough. The biggest and most expensive homes in Newington/Rocky Hill are right along the turnpike.

 

[Excalibur]

I’m from Southington. Southington residents tend to think this town is amazing. Everyone’s cousin and brother and grandpa lives here - it’s incessed no one ever leaves. Not that there’s anything wrong with that, the town is nice. I like it. But we tend to talk down on neighboring towns. See what I did here?

So everyone I’ve talked to back home says Meriden, PVille, Bristol, and Wolcott are all dumps and not to buy there. That’s why I asked I wanted an outsider opinion.

Southington did a nice job on its downtown with a good mix of bars and restaurants. Still, anyone in Southington with money would rather be in Cheshire.

 

[superjohn]

I think the Rocky Hill-Cromwell-Newington-Berlin run of CT is one of my least favorite places on earth. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

 

[Dream Jobbed 2.0]

Interestingly enough. The biggest and most expensive homes in Newington/Rocky Hill are right along the turnpike.

That’s one of my biggest issues-no personality or charm.

 

[ctchamps]

Southington did a nice job on its downtown with a good mix of bars and restaurants. Still, anyone in Southington with money would rather be in Cheshire.

My starter home was in Cheshire. Kuhn ranch bought when interest rates were hovering between 18 and 21% Week of closing they did a dramatic dip and felt lucky to get a 13% mortgage.

 

[MattMang23]

I remember Meridan as being a nice middle class suburb but that was 40 years ago and from a very small sample. What changed or was I just not paying attention back then.

As was posted earlier, there are still a couple good areas toward Wallingford, Durham, Middlefield but it's a town with a rotting core- a lot of blight, failing school system, and taxed through the roof. And then there's this from neighborhoodscout dot com:

Relative to Connecticut, Meriden has a crime rate that is higher than 92% of the state's cities and towns of all sizes.

You couldn't pay me to live there.

 

[UConnMatt813]

Going through the process now and my wife and I had our hearts set on Southington. Finding the same things you are, everything is incredibly overpriced. Have started looking into plainville & prospect as well as Wolcott.

Currently living in Wolcott, and I agree that it depends on which side of town you’re on. But I’ve enjoyed my time here, very quiet, close knit community in my experience.

 

[gohskz]

I live in Wallingford. Taxes are good, electric is really low. Good schools and easy access to the highways.

 

[Dream Jobbed 2.0]

Here’s what you get for $220 in Rocky Hill. A 2 bedroom storage unit.

 

[whaler11]

View attachment 30956 Here’s what you get for $220 in Rocky Hill. A 2 bedroom storage unit.

At $250 there isn’t going to be much to pick from on the 91 corridor south of Hartford.

The neighborhoods where Hartford is creeping into Wethersfield by Nott Ln would be about it.

I gave up looking in Wethersfield/Rocky Hill immediately because the inventory was so small and expensive.

Much more comfortable living up Rt 2. East Hampton, Marlborough, Hebron, Colchester.

 

[methodology]

I think the Rocky Hill-Cromwell-Newington-Berlin run of CT is one of my least favorite places on earth. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

Don't live there but I'd much rather live in that area than the valley (derby, ansonia, Seymour, beacon falls, etc)

 

[Dream Jobbed 2.0]

At $250 there isn’t going to be much to pick from on the 91 corridor south of Hartford.

The neighborhoods where Hartford is creeping into Wethersfield by Nott Ln would be about it.

I gave up looking in Wethersfield/Rocky Hill immediately because the inventory was so and expensive.

Much more comfortable living up Rt 2. East Hampton, Marlborough, Hebron, Colchester.

That’s a really nice area. Rt2 keeps you close to everything but you get a lot of bang for your buck.

 

[August_West]

Much more comfortable living up Rt 2. East Hampton, Marlborough, Hebron, Colchester.

LOL East of the River.

Don't live there but I'd much rather live in that area than the valley (derby, ansonia, Seymour, beacon falls, etc)

smart man. dont forget Naugatuck and Shelton too.

 

[CL82]

. The Berlin Tpke spooks the hell out of me and feels like New Jersey.

Oh you didn't...​

Leave Jersey out of this.

 

[CL82]

As was posted earlier, there are still a couple good areas toward Wallingford, Durham, Middlefield but it's a town with a rotting core- a lot of blight, failing school system, and taxed through the roof. And then there's this from neighborhoodscout dot com:

Relative to Connecticut, Meriden has a crime rate that is higher than 92% of the state's cities and towns of all sizes.

You couldn't pay me to live there.

Wow. Not sure if I used to go to a good area or if the whole thing just sheet the bed.

 

[whaler11]

LOL East of the River.

smart man. dont forget Naugatuck and Shelton too.

I too was once a fool who looked at East of the River with scorn. Now I hope we build a wall.