What makes a hot resale in Petawawa?

[Cpl4Life]

Wife and I are going for our HHT in three weeks. We can't decide what price range to look, but we really like nice homes and since my wife suffers from a condition that often glues her to the crapper, we need lots of bathrooms as well as min 4 bedrooms. There are two houses that look interesting, and are new within the past few years, but have been on the market for at least a few months. Both homes are priced well in the 3's, which I suspect is an issue.

Any suggestions for what people look for in Petawawa? I do not want to buy a nice house and have it sit forever when we resell because he price is too high - what price points tend to sell faster?

I am going to ask our Realtor these same questions but since I don't trust Realtors I'd appreciate some opinions.

 

[Cdnleaf]

Wife and I are going for our HHT in three weeks. We can't decide what price range to look, but we really like nice homes and since my wife suffers from a condition that often glues her to the crapper, we need lots of bathrooms as well as min 4 bedrooms. There are two houses that look interesting, and are new within the past few years, but have been on the market for at least a few months. Both homes are priced well in the 3's, which I suspect is an issue.

Any suggestions for what people look for in Petawawa? I do not want to buy a nice house and have it sit forever when we resell because he price is too high - what price points tend to sell faster?

I am going to ask our Realtor these same questions but since I don't trust Realtors I'd appreciate some opinions.

Location x 3 and price point under 300k.  Big new subdivision(s) are going up in the village over the next couple of years year.  I thought the 'Afghan economy' tour $$ driving the buying in the area and changes to CMHC (i.e. no 5% and 30 year terms) would slow things down, but it hasn't.  I don't believe the market has not seen a correction and remains strong / lots of keeping up with the Jones.  We'll see in a couple of years; as the price points (250k ++) are IMO pushing housing beyond what is reasonably affordable for new buyers.  My  :2c: and good luck.

 

[Cpl4Life]

Thanks cdnleaf, where is "location" in Pet? Also, were finding a lot of >300k homes are really crap quality. Nail heads showing through flooring, laminate flooring, cheap quality carpets, kitchens that I expect to find in >150k houses, problems with the builder clearly ignoring them, etc. Is it more that people want something that looks pretty and they will compromise on quality for price?

 

[Cdnleaf]

Thanks cdnleaf, where is "location" in Pet? Also, were finding a lot of >300k homes are really crap quality. Nail heads showing through flooring, laminate flooring, cheap quality carpets, kitchens that I expect to find in >150k houses, problems with the builder clearly ignoring them, etc. Is it more that people want something that looks pretty and they will compromise on quality for price?

Much info on this thread:  http://forums.army.ca/forums/threads/40540.0.html

 

[Anny]

We are heading out to look for a house in a week.  I've noticed what house sells for what price depends a lot on the area.  The Old Forest area houses tend to sell at a higher price than the Limestone Subdivisions (two areas we are contemplating).  I see one house on Turning Stone that seems very nice but it's way over priced and has been on the market for a long time.  They lowered the price but only by $2000 dollars so clearly they aren't going to budge much, which is a shame because they could have easily sold it by now.  Almost all the other houses I like in that area are on Limestone, which is too busy a street for us with little kiddlings. It will be a nice close walk to the new super school thats apparently going in next year.

There are a few houses in Old Forest that also have been on the market for some time - one in particular.  The price appears reasonable so it will be interesting to see it in person and maybe find a reason why it hasn't sold.

I know this information is very specific, but hopefully it helps you a bit.  Good luck on your trip if you haven't gone already!

 

[AmmoTech90]

I lived in Pet while the built Limestone.  In general the building materials used behind the nice shiny paint, drywall, and siding was very poor.  Warped studs, gaps in the cinderblock foundations you can see through (before being covered).  This, coupled with the very cheap fixtures on cupboards, doors, etc would steer me away from buying anything built in the last three years (my timeline of experience). 
What sold our house in one week was good presentation.  It was clean, and I mean clean.  It was not cluttered, and we had a package of utility bills/tax bills available.  The only serious upgrade we did to the house was install a tankless hotwater heater.  We also ripped out a pool.  Those two things, a bit of paint, and cleaning resulted in a sale after 1 week on the market and making a 20% profit in two years.  This house was also 23 years old btw.

 

[Anny]

Thanks for that post AmmoTech.  We are considering the Country Lane area but the problem with that is we only have one vehicle, so I would be stuck at home feeling isolated most days.  Limestone would offer us a location where I could at least walk to a few stores, and probably the Southside ammenities.  I agree with what you say, the older houses generally are built better.  Even newer high end houses are built really crappy compared to most of the old houses.  I've asked our realtor and she told me that the Country Lane area is a "hot area" and we would have no problem reselling if we bought there.  However, I am leary of her advice because I've seen a few houses in the Country Lane area (anything close to 400K and over) sit on the market for a VERY long time.  I would hate to buy a nice house like that and not be able to sell it when we get posted, that would really suck.

 

[AmmoTech90]

This is the same model as my house, asking $10k more than mine sold for last year.  Good design, close to everything.  Two floor, bathroom never more than 30 feet away at the most.  Two good sized bedrooms on main floor and a big extra room in the basement in addition to the family room that could be used for either another bedroom or study.  The people that built it are still around and will answer questions about it.

I would snatch that up quick.  The only thing about the location is you are one block over from cheap apartments that sometimes have the cops visit.  However, we lived right across from them and never had a problem with neighbors.

 

[Cpl4Life]

Where are the apartments? On Limestone?

 

[AmmoTech90]

On Veryken behind Kelseys

 

[AmmoTech90]

This is the same model as my house, asking $10k more than mine sold for last year.

Guess I should have put the link in
http://www.realtor.ca/propertyDetails.aspx?propertyId=10517581&PidKey=-48924143

 

[Pusser]

Thanks for that post AmmoTech.  We are considering the Country Lane area but the problem with that is we only have one vehicle, so I would be stuck at home feeling isolated most days.  Limestone would offer us a location where I could at least walk to a few stores, and probably the Southside ammenities.  I agree with what you say, the older houses generally are built better.  Even newer high end houses are built really crappy compared to most of the old houses.  I've asked our realtor and she told me that the Country Lane area is a "hot area" and we would have no problem reselling if we bought there.  However, I am leary of her advice because I've seen a few houses in the Country Lane area (anything close to 400K and over) sit on the market for a VERY long time.  I would hate to buy a nice house like that and not be able to sell it when we get posted, that would really suck.

I sometimes think that folks get a little too wrapped around the axle on this issue.  To be fair, I've driven through the Petawawa area once in  my life and so I have no idea where anything is or what distances people have to travel in that part of the world.  However, I can say a few things on this subject, based on my experiences elsewhere.

1)  Why does the spouse remain "trapped" if there is only one car?  Can the member take the bus to work?  Ride a bicycle?  Run?  These are options that save money and (other than the bus) improve fitness.  Can the spouse drive the member to and from work?  Can the member join a carpool?

2)  If you have to drive to work, are you saving money by buying a cheaper house further out?  Or, is the money you saved on the purchase price on the house eaten up in commuting costs?  Remember that your time is also a commuting cost.

Years ago my wife became aquainted with a young wife of a soldier who insisted on taking their one car to work everyday, despite the fact that both their home and his workplace were well-served by public transit (at no more than a 15 bus ride).  In fact, he could have walked the distance in about 25 minutes.  However, he wanted to come home for lunch each day.  Thus, his wife was stuck at home with young children and no way to go out and do anything (Buddy was an a$$).  I could never understand that jerk.

Not really related to what I'm saying above, but I need to add that folks should look more at older houses.  I've never bought anything less than 30 years old.  Some folks seem to believe that by buying new, they avoid "old house problems."  Not true.  All houses have problems that need to be addressed by regular maintenance.  Buying a brand new house will not save you from them.  However, older houses tend to have been built better and are actually easier to fix.  Furthermore, they're proven.  If a house has been standing for 70 years (as was my first house), it will stand a few more.

PS:  That house is now 90 years old and still there (although I don't own it anymore).

 

[Cdnleaf]

I sometimes think that folks get a little too wrapped around the axle on this issue.  To be fair, I've driven through the Petawawa area once in  my life and so I have no idea where anything is or what distances people have to travel in that part of the world.  However, I can say a few things on this subject, based on my experiences elsewhere.

1)  Why does the spouse remain "trapped" if there is only one car?  Can the member take the bus to work?  Ride a bicycle?  Run?  These are options that save money and (other than the bus) improve fitness.  Can the spouse drive the member to and from work?  Can the member join a carpool?

2)  If you have to drive to work, are you saving money by buying a cheaper house further out?  Or, is the money you saved on the purchase price on the house eaten up in commuting costs?  Remember that your time is also a commuting cost.

Years ago my wife became aquainted with a young wife of a soldier who insisted on taking their one car to work everyday, despite the fact that both their home and his workplace were well-served by public transit (at no more than a 15 bus ride).  In fact, he could have walked the distance in about 25 minutes.  However, he wanted to come home for lunch each day.  Thus, his wife was stuck at home with young children and no way to go out and do anything (Buddy was an a$$).  I could never understand that jerk.

Not really related to what I'm saying above, but I need to add that folks should look more at older houses.  I've never bought anything less than 30 years old.  Some folks seem to believe that by buying new, they avoid "old house problems."  Not true.  All houses have problems that need to be addressed by regular maintenance.  Buying a brand new house will not save you from them.  However, older houses tend to have been built better and are actually easier to fix.  Furthermore, they're proven.  If a house has been standing for 70 years (as was my first house), it will stand a few more.

PS:  That house is now 90 years old and still there (although I don't own it anymore).

Mr. Pusser - Now how can I possibly keep up with the Joneses living in an old house and driving my 10 speed to work?!?  ;D 
Seriously though, I really enjoyed reading your post and agree with most except there is no bus service into the Base.  With the price of gas, natural gas and oil - the commute (read traffic jam) down Pet blvd will undoubtedly look different in the next 6 months.  Older houses in the area / indeed if you can get a good one, my :2c: is definitely buy one.  All the best.

 

[Anny]

I sometimes think that folks get a little too wrapped around the axle on this issue.  To be fair, I've driven through the Petawawa area once in  my life and so I have no idea where anything is or what distances people have to travel in that part of the world.  However, I can say a few things on this subject, based on my experiences elsewhere.

1)  Why does the spouse remain "trapped" if there is only one car?  Can the member take the bus to work?  Ride a bicycle?  Run?  These are options that save money and (other than the bus) improve fitness.  Can the spouse drive the member to and from work?  Can the member join a carpool?

2)  If you have to drive to work, are you saving money by buying a cheaper house further out?  Or, is the money you saved on the purchase price on the house eaten up in commuting costs?  Remember that your time is also a commuting cost.

Years ago my wife became aquainted with a young wife of a soldier who insisted on taking their one car to work everyday, despite the fact that both their home and his workplace were well-served by public transit (at no more than a 15 bus ride).  In fact, he could have walked the distance in about 25 minutes.  However, he wanted to come home for lunch each day.  Thus, his wife was stuck at home with young children and no way to go out and do anything (Buddy was an a$$).  I could never understand that jerk.

Not really related to what I'm saying above, but I need to add that folks should look more at older houses.  I've never bought anything less than 30 years old.  Some folks seem to believe that by buying new, they avoid "old house problems."  Not true.  All houses have problems that need to be addressed by regular maintenance.  Buying a brand new house will not save you from them.  However, older houses tend to have been built better and are actually easier to fix.  Furthermore, they're proven.  If a house has been standing for 70 years (as was my first house), it will stand a few more.

PS:  That house is now 90 years old and still there (although I don't own it anymore).

You have valid questions and points.  We currently live in a house that was built in 1907.  Yes, you read that correctly, it's over 100 yrs old.  In Petawawa however, there are most likely no houses over 50 yrs old (someone else can confirm or deny this, but if there are, there are very few).  There is no public transit service.  I have a disability that causes side affects some days which do not allow me to drive.  I cycle as often as I can, and walk to work almost daily, and do take public transit fairly regularly, but again, I have my days where I can't drive or cycle or even walk very far so (right now, at our current posting) I take a cab to work as the bus service from my house to work involves a long wait and three transfers, even though it's less than a 2 km distance.  And walking with a toddler (daycare is at my workplace) is a chore when I'm in a lot of pain, so it's easier to take a cab.

In Petawawa if we live in an older house, which generally means further out from ammenities (not always, but for the most part) cabs will quickly become cost prohibative, especially with me not working once we move there.

My husband cycles to/from work fairly often, which leaves me the vehicle, but there are times he simply needs the vehicle for whatever reason.  Our decisions regarding location are based on a worst case scenario - hubby having the van at work and I (for example) ran out of milk in the middle of baking.  Or I have the vehicle at home with me, but can't drive that day.

Hopefully this helps answer some of your questions.

 

[Pusser]

The questions I was asking were more rhetorical than anything else.  I fully realize that everyone's circumstances are different, so sometimes options are limited.  However, I've also seen situations where the biggest hurdles are self-imposed.  Sometimes with a  little outside the box thinking, we can find alternatives that really work.

 

[helpup]

Nix, I have been living in Pet since 90  and bought my first house in 95.  Second house was in Ottawa and third and current house is back in Pet/Pembroke.  I have watched my original house that I bought for 118 and sold for 167 sell two years later for 220,  it is now going for over 250.  Are the prices over inflated......... yes and the reasons were already brought up.  However it is a "free market" that is bearing what people are willing to pay.  My first house I got on the bad edge of a bubble but it in the end went up as I paid off the principle. the other two are on the whole F*ck edge of a " it is worth how much.  But I know regardless of what it is appraised for I am only going to get what the market and my patience will allow for. 

With out knowing your trade we don't know how long you figure on being here for. That in my mind will play the most with what type of house you buy. Both for your families needs and resale.  If you figure on a one/two year fast ball you need to look at some things..... such as.
The new unit ( Chinook ) being stood up in the area.  If your hear for the more normal 3 or more then figure a market let down into the equation...... IRPP is being more difficult then what use to be in what was covered versus losing money on houses however it is still a neutral game from them as long as you buy with in your means. (including a potential fast move)

Gas prices aside there is more in the area to include other then "downtown/close to base Pet" I live in Laurentian Valley yet postal Addy of Pembroke and am only 10 min from base/10 min walk to shopping and the like.  Deep/ Chalk river  are other options that have good and bad points to them depending on your own situation.  Eganville and other surrounding communities also offer their own bit for price of houses and community living. 

If you want to play it safe on a house.  Living in Pet or Pembroke is probably your best option.  A not new house your better option but comes with it's own risk.  Newer houses come with amenities but as was pointed out some houses do not have the quality all would like or are stacked up as bad as a larger cities suburbs.

 

[helpup]

Bottom line, buy in a location that works for you and a house that is for your family above all....... Buy in a location and price range for most Army guys/girls if all you want is a fast resale.  Be smart and improve what ever you buy yearly for how ever long your here and if your priced comparibly with the norm you will have few problems selling.

"hope for the best, plan for the worst, and somewhere in the middle is what you will get"

 

[Cdnleaf]

Bottom line, buy in a location that works for you and a house that is for your family above all....... Buy in a location and price range for most Army guys/girls if all you want is a fast resale.  Be smart and improve what ever you buy yearly for how ever long your here and if your priced comparibly with the norm you will have few problems selling.

"hope for the best, plan for the worst, and somewhere in the middle is what you will get"

Really good advice, the one nuance to your first post that is often overlooked is with Laurentian Valley Township. All the municipal services, same address (as you noted,) same distance / faster in some respects to go 417 then back gate and lower property taxes

 

[Cpl4Life]

My husband cycles to/from work fairly often, which leaves me the vehicle, but there are times he simply needs the vehicle for whatever reason.

We are in a similar situation, one vehicle and absolutely no wish for a second. I plan to buy a house within 6 kms of the building I work in. This will allow me to hop on my bike or even take a good jog to work.  When the weather is really nasty I plan to drive, so my wife would have to drop me off if she wants the car.  I wonder how many folks walk or bike to work there, any idea? Do people notice a fair number of greens walking across the bridge to work? I imagine if you live on the northside it would be really easy, but I'm not sure how many people are willing to if they live in town.

 

[helpup]

There are a fair number of people who do walk to work and even more who ride a bike in the summer, winter up here though that drops but there are some diehards who go against the "base ban" on cycling on base in the winter ( it is a safety hazard when the banks start to build up)  There are a fair amount of car pools as well but most of them I tend to notice being the younger troops sharing a ride with someone from their unit.  as you start to get beyond the beer store limit. (5ish km from base) that number drops off significantly but there are still a few who do.  And that just leaves the E Bike's that by my best guess sits close to 6 for now on the base but if gas keeps going the way it is may increase.

Good luck and welcome to the neighborhood