Advice on relocating to Detroit. (Ann Arbor, Royal Oak: equity, real estate, property taxes)

[lindsayinitaly]

I see so much good information on this sight but a lot of it asks people to be very specific, so I am going to do just that in hopes of the good advice you have all given others.

-- I'm moving to Detroit from Italy (originally from Pittsburgh) with my Italian boyfriend (first time he is living in America).
-- We are in our young professionals (early 30s) - no kids.
-- We plan to live in Detroit for job opportunities for 3-5 years. We will both be working in downtown Detroit (RenCen).
-- Looking to buy a house (townhouse preferable) in the range of 250k - 350k.
-- Would like a safe neighborhood with a city feel (like to walk out our door to go shopping, to resturants/bars) but also a quaint neighborhood that is not too loud. If possible a quiet place (city and quiet are an oxymoron so I know I'm asking for a lot).

Any advice on what area we should check out??
Thanks!

[cardwellave]

Royal Oak sounds right up your alley. Your budget is pretty big for Metro Detroit, and I think that Royal Oak is a real no brainer. Nice walkable downtown, tons of new development, nice place.

[kimba01]

Royal Oak is definitely all those things and a nice place to live. The only thing I don't like about RO is the traffic. Pain in the boot. Crowded.

Ferndale is ok too. Especially for one w/o kids because the schools are shaky at best.

[cardwellave]

Ferndale doesn't really have the townhouse stock if that's what you're looking for. I personally like Ferndale more, but I think Royal Oak is a little more "trendy" and more townhouse type developments.

[detshen]

I agree Royal Oak or Ferndale sounds like what you are looking for. There are some townhouses in Ferndale, I can't remember the street I saw them on, but they were sort of off the beaten path. Royal Oak will have a better selection. You should have no trouble finding something in your price range.

[Paddington]

$300,000 will buy you a lot of house in Detroit.

[Nearborn]

If you're only going to be there for 3-5 years, I'd lease unless you're paying cash for the house. The equity you'd build by financing vs. renting over 3 years ain't worth it in Detroit. Not now. On second thought, even if you did pay cash, I'd still consider leasing for 3 years. Check out what you'll pay in property tax on a $300,000.00 house in Detroit before you buy.

[lindsayinitaly]

Thanks everyone - this is great advice. Sounds like I will check out Royal Oak!

[usroute10]

There is at least one neighborhood in the city of Detroit that you might consider. This neighborhood is called Woodbridge.

It has townhouses, two-family flats, apartment buildings, and single family houses from the 1880's to the 1910's. It is one of the most charming neighborhoods with spectacular architecture and spectacular NEIGHBORS who really have pride in the community.

Model D - Woodbridge

Here is a large single family house for sale. The property taxes on it are very low. It seems to be a quiet neighborhood. There is a grocery store and bars/restaurants within walking distance. But it might need some work.

Real Estate One – Detroit, Ann Arbor, Northern Michigan, Michigan Real Estate - Property Detail



Here is another single-family in Woodbridge. Its listing says its in good condition.

4512 Commonwealth Street, Detroit MI 48208 - Trulia

Also, next to Woodbridge is a new neighborhood of single-family and multi-family buildings called Woodbridge estates

www.woodbridgeestates.com/
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Here is a single-family home in the neighborhood of CORKTOWN. You could walk to the Renaissance Center from this house. The taxes are low, but the house seems a little overpriced(but I don't know for sure).

Real Estate One – Detroit, Ann Arbor, Northern Michigan, Michigan Real Estate - Property Detail

[bem629]

I agree with all of those who are pro Royal Oak. I'm here for a two year stint and love the small, walkable area in the downtown. Also, there are great little neighborhoods nearby with real deals on houses--for leasing or buying. The commute downtown is relatively easy. Good luck with the move!