The State of Local Real Estate

Still no word on the library job and it will be 3 weeks on Wednesday so I’m feeling less hopeful (in case I haven’t mentioned it in the blog the library job is a part-time job that pays $3 more per hour than the grocery store and would replace that job).  I have been asked if I can work more at the store during the summer so at least I can look forward to adding some hours.

Since our little foray into checking out local real estate I’ve continued to think about the benefits of moving to town. Primarily these include savings in time and money due to less of a commute. I figured it out and I’d save approximately $1,000 in gas (based on $2.50 a gallon so it’s likely even more and I didn’t try to figure in wear and tear on the car) and add 155 non-commuting hours to my life over the course of the year. Of course the money saved would be offset by the expense of town life, namely rent and additional utilities (for example water, which we don’t pay for here except in the labor of hauling it;-). The additional time would be nice.

Other benefits include the experience of town life for my younger kids. They’ve never taken a bus other than the school bus and they don’t really have a feel for what it’s like to live in a town/city. I foresee such a lifestyle in their future and think it would be good for them to have that experience. We would have access to a lot more cultural activities and it would be easier for them to find jobs.

However, once I began looking into rentals it did not take long for the realities of real estate in a college town to become obvious. Housing is at a premium for at least 9- months out of the year and most landlords insist on a year lease so that they are covered for the summer months when a portion of the student population departs.  Here are some examples, starting with what looks like a great deal although a bit small for a family of three. 2 beds/2 baths at $450 a month? That turns out to be actually $450 per bedroom in a 4-bedroom house. Then there’s another house – $2,100 a month – more than I make in my teaching job – and an nice new apartment for the even higher cost of $2,595 a month (for the 3 bedroom, the lower price is for 2-bedrooms).

 

 

 

 

 

 

 

Of course rentals outside of town go for a bit less – but then again that’s where we are now! While we keep looking we are checking out the schools in town – our little rural school district actually holds its own in many ways (diversity not being one of them, however). Our in town choices are super large (for us – ~1600 students) and diverse with a lot of offerings and super small (smaller than our current school), less diverse with focused ‘science and entrepreneurship’ courses that include free tuition at the local community college in the senior year. There are benefits and drawbacks to both.

And in other news, my middle daughter’s senior year is winding down with awards night, final choir concert, and prom. She received several awards at senior awards night including four community scholarships that put us within about $3,000 of the cost of the first year at University of Evansville. She’s going to work 2 jobs this summer to help earn money towards the bill. Still to come is graduation – June 8th! Soon another one will leave the nest.

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2 Responses to The State of Local Real Estate

  1. Anne says:

    I have 4 children, and we moved 9 times in 13 years with the Air Force. We lived in apartments several times. Have you looked around much at apartments? That Kirkwood on the Trails one looks like a “luxury apartment”- those kind I’ve avoided b/c of price. I found this one called Fox Hill that looks nice with a three bedroom coming soon for $840 per month. I have found houses to be too expensive to rent- especially in the last few years. Good luck with your search and decisions!

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