Bills_Fan_In_Illinois Posted June 21, 2005 Posted June 21, 2005 My wife and I are thinking seriously about moving to the area within the next year, we were wondering about the local home rental market. Are there many homes for rent, from what I can tell online, there are mostly apartments. Also any Info about the local cable market would be good, right now I have Direc Tv, does a local affiliate televise both home and away Bills Games, any help is greatly appreciated.
PromoTheRobot Posted June 22, 2005 Posted June 22, 2005 My wife and I are thinking seriously about moving to the area within the next year, we were wondering about the local home rental market. Are there many homes for rent, from what I can tell online, there are mostly apartments. Also any Info about the local cable market would be good, right now I have Direc Tv, does a local affiliate televise both home and away Bills Games, any help is greatly appreciated. 363649[/snapback] Why rent when you can buy...seriously! While home values around the USA skyrocket, houses in Buffalo are dirt cheap. Go to www.realtor.com and do a search. You can find single and multi-unit homes in some decent parts of Buffalo for around $50,000. (There are houses for less than $10K too but you probably wouldn't want to live in those neighborhoods.) Rent for a house would be at least a grand a month. A $50K mortgage would be about $300 a month. Now the flipside is that house probably won't be going up in value, and you may have a hard time selling it down the road. But at those prices why not just hang on to it or rent it out? If things ever do take off in Buffalo, you would have gotten in on the ground floor. Realtor.com PTR
Dr. Fong Posted June 22, 2005 Posted June 22, 2005 If things ever do take off in Buffalo, 363768[/snapback] That's a big if my friend. Seriously, he's right. Renting is like throwing away money unless you're only thinking of staying for a short time.
plenzmd1 Posted June 22, 2005 Posted June 22, 2005 That's a big if my friend.Seriously, he's right. Renting is like throwing away money unless you're only thinking of staying for a short time. 363781[/snapback] Can't speak for Buffalo, but renting is making more and more sence in the hyper housing markets. So many speculaters, so much rental stock, really starting to make sence to rent until the inevitable bursting of the bubble in housing prices.
Kipers Hair Posted June 22, 2005 Posted June 22, 2005 Why rent when you can buy...seriously! While home values around the USA skyrocket, houses in Buffalo are dirt cheap. Go to www.realtor.com and do a search. You can find single and multi-unit homes in some decent parts of Buffalo for around $50,000. (There are houses for less than $10K too but you probably wouldn't want to live in those neighborhoods.) Rent for a house would be at least a grand a month. A $50K mortgage would be about $300 a month. Now the flipside is that house probably won't be going up in value, and you may have a hard time selling it down the road. But at those prices why not just hang on to it or rent it out? If things ever do take off in Buffalo, you would have gotten in on the ground floor. Realtor.com PTR 363768[/snapback] I have to disagree. Buffalo used to be a great deal - not any longer. When you couple the increased taxes with the increased cost in housing, a good house in a desirable part of WNY is no longer the great value it once was. If you are not familiar with Buffalo - actually WNY - buying a house for $50K or so can be a bad move - bad area's, school systems, economic growth. I would encourage someone not familiar the area to actually rent for 6-12 months and see where you really want to live and even if you like the area at all. There are some really great places in WNY that are great for different reasons, but it might tak etime to find the area you like...
JohninMinn. Posted June 22, 2005 Posted June 22, 2005 I have to disagree. Buffalo used to be a great deal - not any longer. When you couple the increased taxes with the increased cost in housing, a good house in a desirable part of WNY is no longer the great value it once was. If you are not familiar with Buffalo - actually WNY - buying a house for $50K or so can be a bad move - bad area's, school systems, economic growth. I would encourage someone not familiar the area to actually rent for 6-12 months and see where you really want to live and even if you like the area at all. There are some really great places in WNY that are great for different reasons, but it might tak etime to find the area you like... 363922[/snapback] There's a lot of wisdom in that post.
stuckincincy Posted June 22, 2005 Posted June 22, 2005 Can't speak for Buffalo, but renting is making more and more sence in the hyper housing markets. So many speculaters, so much rental stock, really starting to make sence to rent until the inevitable bursting of the bubble in housing prices. 363901[/snapback] IMO, You got that right. I heard that the Feds may try to make a move restricting the interest-free mortgage craze. The banks etc. will make a many-billion killing in rate hikes, forclosure acquisition and resale if the bubble bursts.
JinVA Posted June 22, 2005 Posted June 22, 2005 IMO, You got that right. I heard that the Feds may try to make a move restricting the interest-free mortgage craze. The banks etc. will make a many-billion killing in rate hikes, forclosure acquisition and resale if the bubble bursts. 364255[/snapback] I don't think will see the bubble burst, but it is definitely starting to level off.
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