In Search of a Home

I had the day off on Monday to observe the greatness of Martin Luther The King. After a grueling 3 day work week I took a sick day on Friday so I could get my home search in full gear. Skins put the house on the market this weekend so I've got to get to gettin'. I called my sister's friend who did the refinance on my ghetto house about a year ago. She took my information and pre-approved me for a loan. She's got me at about $15k less than I had hoped. I have money from the sale of the ghetto house for a down payment but my salary is such that I can't afford a large monthly payment. I can't afford the standard 3br 2ba single family home unless its in a less than desirable neighborhood and truth be told I have no desire to buy another fixer upper. Been there. Done that. Not a big fan of landscaping as a hobby.

I have two options. I can rent an apartment for 6 months to a year, put my money in a money market account, and see if the slow down in the valley housing market continues. Maybe some of the investment properties purchased with interest only adjustable rate mortgages hit the market at reasonable prices. Hopefully I have a better job in 6 months (a long winded post all by itself) Or I can purchase one of the many condo conversions popping up all over the valley. I spent today driving around the valley looking at apartment complexes that are converting to condominiums. They're nice, have amenities, are relatively inexpensive, and I don't have to mow the lawn.

I looked at 7-8 places in Chandler, Ahwatukee, Scottsdale, and Mesa. I could rant away about the fact that Scottsdale is overrun with striped shirt wearing metrosex douche' bags, because it is, but the fact is I can't afford to live there. One place in Chandler had all the good floor plans sold out and the other had the office closed for the weekend. There were two I liked in the Ahwatukee Foothills and one in NE Mesa. The two in Ahwatukee are similar and close to one another so I'll consider them as one for the sake of this Dr. Jack style breakdown (blatant Simmons rip off).
Ahwatukee Foothills:
For:

1. Very nice neighborhood
2. Gorgeous complex
3. amenities
4. affordable 1 bedroom 1 bath units
5. Home values grew something like 39% in the last year

Against:

1. Isolation. Its not close to anything. 30 miles from Sandbar. 38 miles to closest family member. 15 miles from work.

Mesa:

For:

1. Good floor plans
2. Affordable 2 bedroom 2 bathroom
3. Within 10 minutes of parents, grandparents, sister and her family, and my buddy Jesse

Against:

1. Unbelievably bland complex
2. No amenities to speak of
3. Not a growth area
4. Mesa has a statute barring anything resembling a social scene

So there it is. I can live in a smaller condo in a better, though isolated, part of town in a nice complex or I can live close to my friends and family in a larger nice condo in a crappy complex.