Market Conditions in 94587>Question Details

Stephanie, Home Buyer in 94587

Which area is a better investment in puchasing a home, Bay Area or Mountain House/Tracy area?

Asked by Stephanie, 94587 Wed Jul 8, 2009

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5
Hi Stephanie, If you are planning on buying a home to rent out, then you wouod be better off buying i an area where the homes are less expensive so you would have a better chance of the rent being equal to or more then the mortgage, home owners Insurance and property taxes. If you are planning to live in the house and sell it laterther homes in the bay area increase in value faster they the homes in the valley.....Hope this was helpful.....Dawn
1 vote Thank Flag Link Wed Jul 8, 2009
When you say "investment" --- are you planning to rent it out? Or are you looking at long-term return on your personal home?

So many factors to consider. I've had clients who were attracted by the idea of having nice large homes in Antioch, Pittsburg and Mountain House. But they all worked in the Bay area. After a while, the commute started to wear thin. And they ended up selling their large new homes and moved back closer to their places of work.

So ask yourself:
1. how far and for how long are you willing to commute
2. what amenities don't you want to live without?
3. what are your interests? Do you like to dine out, see plays, shop? If so, check out where you can do these things, and how many choices you have
4. Are you concerned about school performance and rankings?
5. How about climate? Do you prefer cooler or warmer weather?
6. Do you have friends and family with whom you like to frequently spend time with? Can they visit you, or can you see them without too much planning and preparation in terms of travel time?

Do this: from your place of business, go at the height of your commuting hour, to the place where you think you want to live. That might well decide it for you.

Good luck!
1 vote Thank Flag Link Wed Jul 8, 2009
If you're thinking Cash-Flow, you'll find better ROI outside the immediate bay area, but if it's for a personal residence, than the answers posted are all relevant.

Here's a link to some tools to evaluate the decision:
http://sunilsethi.com/Calculators.htm

good luck,

Sunil Sethi, REALTOR, MBA, CPA
Web Reference: http://sunilsethi.com/
0 votes Thank Flag Link Wed Jul 8, 2009
Hi Stephanie, the better "investment" is dictated by the "weight" a person places on such things as amenities, proximity to job centers, lifestyle, purpose of the purchase (primary residence, rental income, tax management), etc. Only you know what you mean when you use the term "Investment” and only you can establish the priorities that are important to you. Once you have prioritized these things then the agents on this forum will be better able to assist you with their opinions and insight.

Best, Steve
0 votes Thank Flag Link Wed Jul 8, 2009
Only you can make that decision--why not spend some time in both and check out what's important to you, look at shops, dine at local eateries, parks, etc., then take it from there. Technically Realtors are not allowed to comment on towns/neighborhoods.

Anna
0 votes Thank Flag Link Wed Jul 8, 2009
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