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Message: [QUOTE="DonaldDraper, post: 2701325, member: 1022"] I own my house, have flipped a couple and have a couple of rental properties. I like buying real estate, but I live near a biggish city with a super strong housing and rental market. I would never buy a house in any of the towns you listed with the expectation of making it a financial instrument. You get whacked by the real estate agent for 6% when you sell it and they way the towns steal the value out of your house by raising taxes is a very real threat. The state budget has been squeezing municipal aid and it is likely going to make the real estate taxes worse. When I buy rental properties it is tough to find properties in good shape that can attract quality renters and break even when putting 25% down. Personally these are long term plays for retirement annuities. The concept of just renting it out when you leave can be more difficult than you think. You also have to leave your down payment in the property so you’ll need a fresh batch of cash for the new house. Buy a house cause you want to own something and make it your own and enjoy it. Buying a house in suburban CT because you think you’re throwing your money away on rent could backfire. At 250 your probably only putting 3600/year in principal payments at most. If you’re there for 5 years and the property appreciates at 2%/year you’re barely outpacing the agent fee when you sell. Put in a couple of oh shhhh projects and there is no real appreciation. The end result is that you are gambling 18k ish in principal pay down over 5 years in a good scenario. If the market turns or the taxes get jacked or something else happens, you have to choose between living in your starter home for 15 years or losing your down payment and renting again to get a different spot. I totally get the desire to break the cycle of renting, but CT market has been a tough place for real estate. Needs to be a 10 year play and a lifestyle decision. My two cents. [/QUOTE]

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