Moving to Petersburg, VA-Is it worth buying a home there?

Question

We will be there for 3 years. Should I rent or buy?. I know it's expensive.. but if we sell the house afterwards it's worth it! I need a place with a yard for my dog so I really don't want to live in an apartment or condo.

Answer 1

Three years is kind of on the verge of the renting/buying line. However, if you are looking at having a yard et al., then for what you are paying you would do better to purchase a house.

Pay attention to the Petersburg area. There are some good areas, there are some bad areas, and there are some really bad areas. Prior to the siege during the Civil War, it was nicknamed "The City of Lights" and was compared to Paris. Unfortunately, it is referred to now as "The Armpit of the South" by the author of the book, Confederates in the Attic. There are a lot of buildings that use asbestos siding down there, which has also helped depress the housing in the area.

Look outside of the city limits, such as Prince George or Dinwiddie County. Or even look north across the Appomattox River to Colonial Heights. When you buy, make sure that the inspector pays close attention to asbestos insulation and the electrical system. Many houses are older and have been illegally converted into modern grounding plugs without grounding wiring. (Fire hazard.) There are a lot of people in that area who have tried to take advantage of the personnel who work at Ft. Lee, so make sure that you get your own realtor to help you. If you are a member of the Credit Union or a bank, see if they will suggest a realtor for you.

There is something really neat about owning your own house. Good luck!