Young graduate looking for a home (Central: condos, townhomes, neighborhood)

[gotigersgo10]

Originally Posted by tennreb

Why not look in Midtown? You can find a great house or condo in your price range on a relatively safe street. You'll be much closer to other young professionals, restaurants, bars, and entertainment. Suburbs are for families.

Agree....I would check out Midtown or Downtown.

[tigercpa]

Thanks for all the responses everyone!

I'm not much of a fan of older houses. Are there new houses in the midtown/downtown area? I have family and friends who visit from time to time so I'd rather have a 3 bedroom house rather than a condo.

[Pearlbob]

here and there, you might be able to find a newer home in midtown, but rare. Usually they will be located in so-so areas (like those new ones near the traintracks on Elzey). They are big, new, and cheaper...because who wants to live next to an active train track?

A 3 bedroom home will cost you a lot in midtown too....that's something that a "new graduate" might not be able to pay for (I have no clue of your price range). Looking back, you said $130-175k. You can't get a good 3br home in midtown for that. At least not a new home in a good area.

Originally Posted by tigercpa

Thanks for all the responses everyone!

I'm not much of a fan of older houses. Are there new houses in the midtown/downtown area? I have family and friends who visit from time to time so I'd rather have a 3 bedroom house rather than a condo.

[tigercpa]

Originally Posted by Pearlbob

here and there, you might be able to find a newer home in midtown, but rare. Usually they will be located in so-so areas (like those new ones near the traintracks on Elzey). They are big, new, and cheaper...because who wants to live next to an active train track?

A 3 bedroom home will cost you a lot in midtown too....that's something that a "new graduate" might not be able to pay for (I have no clue of your price range). Looking back, you said $130-175k. You can't get a good 3br home in midtown for that. At least not a new home in a good area.

With that being said, what would your recommendation be?

[Pearlbob]

I'm not sure what else to say, other than what has already been said. Most new deveopments are not going to be in the $150k~ range. That's pretty low for new construction anywhere near the city. I personally have no clue about new construction in the MS suburbs. $150k~ for a 3 bedroom is pretty low for Memphis, unless you want to live somewhere sort of seedy. In midtown, or around UM, you could find a small 3 bedroom home, older, in need of some renovation, for that price. Maybe around Cooper Young in midtown, or more north towards Evergreen. But it will probably be a smaller house in a so-so neighborhood near a lot of rentals.

This is my take on it. You're a new graduate of college. Why rush into buying a home? I understand the desire, esp with the market the way it is. If you want to buy, great...but you'll either have to shell out more $$, or get something smaller than what you want. Can't have your cake and eat it too If you live alone...why a 3 bedroom? I'd get something smaller, then you'd have tons of more choices. You can keep it a while, then the market will inevitably get better, you can sell for a profit, and then buy something bigger when you're older and need something bigger for kids, spouse, etc).

That's just my take.

[tigercpa]

It will be my fiance`and I. I'm not the typical young person who just wants to party and enjoy the nightlife (very few of my type around) lol. I will spend most of my time at work (about 55 hours on average) and would like to enjoy peace at home afterwards. I also know the benefits of owning my own home vs. renting. Im not looking for anything too jazzy, just a small first home that I can enjoy. I will say that safety is a major concern of mine so I won't compromise my desire for purchasing a house if it's going to be in an unsafe area.

[Pearlbob]

I guess just hire a realtor and see what they can come up with. I think you are probably going to have to give in though; $130k, 3 bedrooms, totally safe neighborhood, a new home, near the city -- just doesn't go together.

Memphis is a hard city to buy in when you have a lot of wishes for a home. The only cheap new construction in the city that I can think of is Uptown, and i would NEVER recommend that area. Not safe at all, as "cute" as the houses are.

[tigercpa]

Hahaha....I noticed that as well. I took a visit down to the area and noticed the surrounding neighborhood. You can tear down a housing project, but that is irrelevant if the same type of people are still right around the corner

[tigercpa]

I found these communities in my price range. Would you mind telling me if these are good/bad areas?

Reeves Williams Home Builders - Southaven, MS - Communities - The Grove at Central Park (broken link)

Chambliss Builders – Communities

Johnny Coleman Builders - Olive Branch New Homes - Southaven New Homes - Desoto County New Homes - Allendale

[Pearlbob]

I don't know a thing about anything in MS (other than the casinos) Hopefully someone else will know.

You might want to post this on the MS forum too.