[itdoesntmatter]

Hello all,

I am thinking to buy my first house, as the house price is low right now, and I have saved up enough money.

The thing is, I am not sure it is the great idea.
My situation is renting right now, with one roommate. If I buy a house, he is going to move with me. I can't say my job is secure (is there any such a secure job?), but I work 2 jobs, and hopefully I won't loose both in the same time.

My budget it very limited and the area I can afford is Madison Height and Hazel Park (N or 9 mile). There are other area also but these are preferred as they are short commute).

For the same money I can have a better house in Hazel Park than Madison Height.
For my opinion, as I drove by, Madison Height has better neighborhood. Anyway, I would like to get more opinions.
The post so far get me more confusion as it is mixed opinions, and old threads.

Hopefully, I have new information. Thank you all for your sharing.

[zthatzmanz28]

Madison Heights ==== YES

Hazel Park ==== WHY?

[Dann of Thursday]

Whoa whoa whoa... stop hating on the H.P. While some parts of it aren't the greatest... it's not like the other H.P. (Highland Park)

I Have several friends with families who live in Hazel Park. It's no Bloomfield Hills... but it's not awful It has a lot of really good priced homes.

As for the school districts... if you want to move to Madison Heights, try to get into the Lamphere district.

Basically Hazel Park Vs. Madison heights boils down to this. Do you want to eat Brays Burgers or Telway Burgers.

[Driller1]

Look at some repos. Many of the HUD houses are selling cheap. They will tell you "as is" but, in fact sometimes they will fix things.

[Driller1]

MCB

This is the property management group for HUD.
A good place to start.

[Cliffie]

Originally Posted by itdoesntmatter

Hello all,

I am thinking to buy my first house, as the house price is low right now, and I have saved up enough money.

The thing is, I am not sure it is the great idea.
My situation is renting right now, with one roommate. If I buy a house, he is going to move with me. I can't say my job is secure (is there any such a secure job?), but I work 2 jobs, and hopefully I won't loose both in the same time.

My budget it very limited and the area I can afford is Madison Height and Hazel Park (N or 9 mile). There are other area also but these are preferred as they are short commute).

For the same money I can have a better house in Hazel Park than Madison Height.
For my opinion, as I drove by, Madison Height has better neighborhood. Anyway, I would like to get more opinions.
The post so far get me more confusion as it is mixed opinions, and old threads.

Hopefully, I have new information. Thank you all for your sharing.

This is a great time to buy a place. The value will only go up!

Driller1 is so right -- a lot of the repos these days are practically-new places in great shape, on top of being practically free.

[itdoesntmatter]

Thank you.

HUD home, that's what I start it. I search online and work with realtor.
HUD home is considerably low price and condition is not bad.
I even find move-in condition (standard may vary though), but it always went over list price and over my budget.

I heard the Lamphere school is good. I try to find something in that area, but it come with the price tag.

Basically, I just think something for investment. I don't want to pay rent when you can have it for less expensive.
You get what you pay for. So, I don't expect something nice, just not too rough.

Actually, I find the house I really like in Hazel Park (N of 9 mile), but before I jump in I would like to make sure that I am not going to stuck there. Maybe I would rent and see if I like it.

I used to live in Madison Height (13 miles and Dequinder) and like it so far.

By the way from investment standpoint, you think which one is better, MH or HP.
When thing turn around (hopefully), which place is going to catch up first?

[itdoesntmatter]

Originally Posted by Dann of Thursday

Basically Hazel Park Vs. Madison heights boils down to this. Do you want to eat Brays Burgers or Telway Burgers.

I am sorry. I don't get it. Is it just Telway Burgers is in MH, and Brays Burgers is in HP?
Any metaphor?

[Cliffie]

Read this discussion, especially the linked articles, for some more thoughts on why this is a GREAT time to buy: you could end up owning a teeny-tiny farm of your own!

Detroit, the next Berlin?

[scolls]

I paid $28,500 for my home in February. I posted pics in another thread but it is 1700 sq. ft, brick, hardwood floors, 2.5 baths. All it needed was paint and I had to finish the upstairs bath. Its in Harper Woods which IMO is a nicer looking neighborhood than Hazel Park (Don't know much about Hazel Park, just going by looks) and it's also in the Grosse Pointe school district. I figured the price can't drop any further.