The Reasons To Buy a Home In CT

Reasons to buy Real Estate do not change over time.


On March 18, 2019 Connecticut continues to deliver and exceptional quality of life including convenient health care in multiple hospitals, quality educational resources, great recreation (Long Island Sound beaches, rivers  and forests),  theater, galleries, restaurants and leisure all less than two hours from New Haven’s Union Station to Grand Central Terminal. In other pages I have noted our real estate is comparably undervalued compared to national markets and MSA metros ending 4Q2018, Connecticut state  finances are improving as Moody’s Investors Service praised Connecticut on Oct 1, 2018  for “expanding its Rainy Day Fund to Noah-worthy dimensions”.  The annual cry of  “new taxes” should assure Connecticut of a better financial foundation and improved economic value in the years to come. Another important value has always been seasonal climate which should be an increased value as the south and west seems to be experiencing increased severe weather events 

On July 8, 2015, the Hartford Courant reported the U.S. Department of Commerce selected Connecticut for preferential treatment when local companies apply for grants to promote manufacturing. CT is one of 24 regions or states that have been selected to compete for $1.3B in grants from federal agencies. The Connecticut Advanced Manufacturing Communities Region is positioning itself for the future, as national manufacturing is on the upswing, with 900,000 additional jobs since February 2010, while Connecticut has 4,200 fewer jobs in the sector since then.

Connecticut has a mixture of amenities and challenges that must be managed properly to ensure prosperity for the seventh generation, 120 years from today. Connecticut has excellent climate, easy proximity to New York City, while being close to Providence and Boston. Good rail, highways, harbors, navigable rivers, air service, multiple world class universities, hospitals, shopping, farming, artisan manufacturing, theater, indoor and outdoor recreational opportunities can be found throughout one of the smallest states in the nation.

Connecticut has a rich local history as one of the thirteen colonies integral in the creation of the United States. New Haven was the first planned city in the country. The proud history of local manufacturing has created an extensive, impressive registry of national companies that have called Connecticut home, including many of the Fortune 500.


The quality and pride of ownership of immediate (<1/2 mile) neighborhood

The property values range of the homes in the immediate neighborhood

Recent Sales History and Failed Resale attempts 

The pride of ownership of the immediate square mile

Schools and safe walking available to the neighborhood

Density of houses per square mile

Traffic Volume, Speed Limits and Types of vehicles

Proximity to shopping and other desired locations

Public Recreation

Climate and Natural Resources

Space for walking and Bicycle Riding

The Walk Score which rates all locations proximity to services and recreation

 Consider my Monthly Commentary on Market Condition in Greater New Haven, Connecticut.

Consider the Rent To Own Ratio which is the relationship of annual rental costs to Ownership costs.

Consider using a rental compared to purchase calculator to see your personal financial projection.

Everyone has to commit a certain monthly cost to his or her shelter, so the decision remains very personal and unique. General accepted housing costs are 30% of your gross income. I can show you numerous examples of people who think now is a good time to buy the same type of house you are considering right now. This may be a bad time for people who are unsure about their employment or who have damaged their credit by circumstances beyond their control.

One instrument is consideration of the Rent to Own ratio which is the price of a house divided by one year of comparable rent. This guide is local and personal. We have to evaluate your current situation, future prospects, and desired quality of accommodations

Rent Ratio = Home Ownership Price divided by Annual rent

Consider a $200,000-250,000 house while paying 1600/month rent:

(250,000) divided by (1600×12=19200) for a rent ratio of 13.02

(200,000) divided by (1600×12=19200) for a rent ratio of 10.41

Price-to-Rent Ratio of 1-15: Owning a home is less expensive than renting in this scenario

Price-to-Rent Ratio of 16-20: The total costs of homeownership are greater than renting, but it might make sense to buy depending on your unique situation.

Price-to-Rent Ratio of 21+: Renting is much less expensive than owning a home

Total home ownership costs include mortgage (principal & interest), property taxes, homeowners insurance, closing costs,  HOA dues and private mortgage insurance. It also includes credits for tax advantages of home ownership, (mortgage interest, property tax and closing cost deductions). Total costs of renting include rent and renter’s insurance. 

As we consider the cost of buying to renting it is interesting to consider the changes in Fair Market Rents across the state, indicating demand or vacancy in certain market areas. You could by a $200,000 house for about $1550/month with a 3.75% 30 year fixed mortgage

Here is a Great Rent vs. Buy Comparison Calculator.  Set the taxes at 3.5%

 If this will be an Investment Property Consider:

The Income versus expenses of the property

The quality of tenant who will want to live in your property

The quality of comparable rental property in the immediate area

The ratio of Owners to tenants in the neighborhood

The density of the building and neighborhood

For Any Property Consider the Community Strengths and Weaknesses

PUBLIC WORKS- Many towns and cities are having to cut back on the public services. Drive through your new neighborhood, and then through the town. Go to a city council meeting. Visit the town clerk’s office and get a schedule of scheduled public meetings. Type the name of the town and Bond Rating in a search engine.

MUNICIPAL FINANCES- Look carefully for clues of financial trouble. Are the streets clean? Are the streets in good condition? Are parks in good condition? Is the grass cut? Litter on the streets? Boarded Buildings? Trendy Walker friendly town center? Bike Lanes? Friendly walk in businesses? Vacant Storefronts? Check the library. Have they cut their hours recently? When? Why? Ask the librarians about the neighborhood and town.

SCHOOLS The quality of local schools is a huge issue. Schools matter simply because when it comes time to sell, buyers will look at schools as well. Research the local schools using sites like or the Connecticut Dept. of Education  Strategic School Profiles. Attend a PTA meeting or go to a school at dismissal time to meet and talk with local parents. Say “I am thinking about moving my family here, how do you like living here? How long have you lived here?”

NEIGHBORS-Talk to your potential neighbors. You’ll be living next to these people. Having great neighbors can make a neighborhood special, so find out how they like living there. If they seem unhappy or ready to move ask them to be honest about the neighborhood. What do they like? What do they wish was different?

Factors that may negatively affect Residential Property values can include:

Commercial or government enterprise  

Power Plants  

Registered Criminal Offenders

Vacant, Foreclosed Homes

Poor Landscaping or Debris on Property.

Closed or Poorly Performing Schools.  

A geographic factor can affect the current and future value of a property:

Dangerous Intersections

Corners and T Streets    

Environmental Brownfields

High Power Lines

Flood Zones

How will you decide? By working with me, David Carr, as your exclusive Buyer agent, we will discuss these and other factors that will determine you satisfaction at closing and in the future. Make a good choice now to avoid problems in the future

Copyright 2013, 2015,2016,2017, 2018, 2019 by David Carr. All Rights Reserved

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