Is Moving Around Very Common in Charlotte? (Raleigh, Huntersville: transplants, for sale)

[rscap]

So, we went house hunting last weekend in Charlotte. We are from NY. We encountered many people who had lived in their homes for just a couple of years and were moving (many within the same community, or from a neighboring town to another). It also seems to be a common element as I read through these Charlotte boards. In my neck of the woods, people tend to buy a house and stay in it, for better or for worse, for a long time (generalizing here...don't flame me). One of the reasons being that between realtor fees, closing costs, etc, it's extremely costly to move in NY. Is that not the case in Charlotte?

In Fort Mill, one woman told me she had lived in 3 different houses in Baxter (Fort Mill) in the last 6 years!! Another, same thing, moving from one house in Baxter to another after 3 years. And then there are all these 2-3 year old houses on the market all throughout the Charlotte area. Can anyone rationalize why this is the case? I also see it in the "feeling" of the houses. Many look like museum showpieces, and not "lived in" homes. I know many people work in the banking business which is big on transfers, but surely this cannot account for ALL the moving around after just a couple of years. I'm not sure I'd be happy in a place where my neighbors changed every couple of years.

anyone have any insight on this observation?
thanks!
Renee

[North_Raleigh_Guy]

We see a lot of this in Raleigh as well. Here it is usually a combination of 3 things.

1) Lots of Folks transfer in/out for career related reasons
2) People Upgrade to larger homes as their income improves.
3) Some transplants buy when they first move instead of renting first, then and after living there for a year or two and becoming more familiar with the metro area and all the available housing options realize that a differnt location in the Metro better suites them.

[winston2000]

I think the strong real estate market has also been a factor. People are seeing huge increases in their homes, with an opportunity to make money & get a larger/better home without paying capital gains.

To qualify for this gain exclusion, the seller must have occupied the property for two of the five years before the sale. There is no limit on how many times you can take the exclusion, but is can only be taken once every two years.

You don't have to buy another home to receive capital gains tax relief. And you only pay tax on gain you realize over $250,000, for a single individual and $500,000, for a married couple.

I have a friend that moves almost every two years because he makes so much money on his homes.

[baggleflap]

My personal experience: WE bought a starter home in a cheap neighborhood (SE Charlotte) when we first got married, then when we started thinking about starting a family we moved to a nicer area (up near Huntersville). From there, we moved out of state due to a job transfer and when we were able, we moved back but into a more desirable school district (Ft. Mill). I truly don't want to move again. My kids have been uprooted enough.

Most of my friends back in my old neighborhood are still there and plan to retire there.

[OREGONRAIN]

I think you may notice it more because people in the northeast especially New York and New England, stay in homes for decades, it is how I was raised in Massachusetts. Once you leave the northeast you will notice people move over and over, I can't really say I like that feeling myself, constant new neighbors is like living in a motel area. Its the same out here in Portland, and any fast growing region of the country you will notice neighorhoods changing residents over and over.

[melkat]

I do notice that many people that I know move around the area but most do it because their kids are getting close to school age and move to a better school zone..if we had stayed in CT we would have just put an addition on our house instead of moving to a bigger house when the time came for that (we were already in a good school district ) Our house in Cornelius is for sale but that is because we are moving to Atlanta

[sheena]

Originally Posted by rscap

So, we went house hunting last weekend in Charlotte. We are from NY. We encountered many people who had lived in their homes for just a couple of years and were moving (many within the same community, or from a neighboring town to another). It also seems to be a common element as I read through these Charlotte boards. In my neck of the woods, people tend to buy a house and stay in it, for better or for worse, for a long time (generalizing here...don't flame me). One of the reasons being that between realtor fees, closing costs, etc, it's extremely costly to move in NY. Is that not the case in Charlotte?

In Fort Mill, one woman told me she had lived in 3 different houses in Baxter (Fort Mill) in the last 6 years!! Another, same thing, moving from one house in Baxter to another after 3 years. And then there are all these 2-3 year old houses on the market all throughout the Charlotte area. Can anyone rationalize why this is the case? I also see it in the "feeling" of the houses. Many look like museum showpieces, and not "lived in" homes. I know many people work in the banking business which is big on transfers, but surely this cannot account for ALL the moving around after just a couple of years. I'm not sure I'd be happy in a place where my neighbors changed every couple of years.

anyone have any insight on this observation?
thanks!
Renee

Moving around was a way of life in Phoenix too, I don't find it any different here in Charlotte. New York is different, most people keep their houses till death and after.

[niknaxx]

Charlotte is very transient, not a lot of natives here.

We follow my husband's construction career, hope to stay in a house long enough to avoid cap gains, that's the goal. We move every 2-3 years, in between states and across state lines. Wherever the work is, wherever we need to go...

We always buy instead of renting first. Renting is such a waste of money, but we've also had very good realtors that actually listen to what we want and help us find it. Not all are that lucky. We don't move for choice because we have to do it for my husband's career. There are always those that the grass is greener and they invest and the reinvest, nothing wrong with that, either...

[Lincoln S]

Whats the rule on Capital gains? I am moving to your area after lifing in Pa. for the past 4 and a half years.