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Old 08-23-2016, 11:02 PM
 
Location: Minneapolis
256 posts, read 287,131 times
Reputation: 282

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I don't mean to pile on here, but I will have to agree with the general opinion in this thread that 125k (sadly) just isn't enough to buy a house in a decent area of the Twin Cities. If you bumped it up to, say, 175, you'd get a few more options for sure.

That said, I have recently noticed myself that while it's not doable for most people (since the jobs tend to be in the Cities themselves), there are places farther out where you can find a pretty nice place for well under 200k. I couldn't believe it the other day when I noticed there were beautiful houses (for my family's purposes, anyway) for right around your budget in the Lindström/Chisago Lakes area. Pretty decent schools and stuff too. But if you actually *need* to be around the Cities for work, that'd be a bigger commute than I'd be able to stomach.
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Old 08-24-2016, 07:10 AM
 
3,715 posts, read 3,701,850 times
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Not sure why the OP is being attacked for asking the question, I've known this forum to be one of the better ones! If $125K isn't doable, then just say it's not doable. No need question his parenting skills in the process!
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Old 08-24-2016, 07:57 AM
 
1,807 posts, read 3,095,669 times
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Quote:
Originally Posted by Citykid3785 View Post

Victory neighborhood of Minneapolis?
Not on your life.

I bought for 150 in Victory, and that was bare minimum for the neighborhood, unless you want a total gut job.

And prices are going up.

I am not sure why we are sugarcoating this. OP is screwed on a 125k budget. Even in the areas you listed, they won't get anything good.

Best bet is to live on the far fringes of the metro, and if you're self-employed, that might not be an issue.
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Old 08-24-2016, 07:59 AM
 
1,807 posts, read 3,095,669 times
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Quote:
Originally Posted by Citykid3785 View Post
Not sure why the OP is being attacked for asking the question, I've known this forum to be one of the better ones! If $125K isn't doable, then just say it's not doable. No need question his parenting skills in the process!
It's not doable. Unless he wants to live in a very bad area, wants very little house (like, 600 SF) in a decent area, wants to invest tens of thousands in home repairs within the next year, or wants to live way out in the stix.
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Old 08-24-2016, 08:09 AM
 
1,349 posts, read 1,708,482 times
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But just to be clear MPLS isn't unique in this. Our similar-sized metros (Seattle, Denver, St Louis, San Diego, Cleveland) I doubt you will find a cute, decently kept home in even an average hood/school district for 125k. That kind of buying power is reserved for small cities or small towns.

Maybe Des Moines, Madison, Wichita areas?
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Old 08-24-2016, 08:12 AM
 
1,807 posts, read 3,095,669 times
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The Maplewood house looks fine, if one is handy.

Be wary of anything that's been on Trulia for 180 days, though.

For that matter, don't use Trulia at all. Bookmark this: TheMLSonline.com: Minnesota Real Estate, MLS Listings, Homes for Sale, New Construction - TheMLSonline.com

Beam Avenue is not even showing on that. May have been pulled.

MLS will give you the most up-to-date listings. Trulia, Zillow, etc., get updated far less frequently.

3 SFH in Maplewood in your price range. One (1220 Ferndale) looks pretty nice (act fast!!!)

One (510 Ferndale) is a gut job.

One (County Road C) has an offer in.

This is Maplewood. Inner-ring, older construction, smaller homes, and decent-to-below-average schools.
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Old 08-24-2016, 08:13 AM
 
1,807 posts, read 3,095,669 times
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Never mind. 1220 Ferndale is a townhome.

2 SFH in your price range in Maplewood...
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Old 08-24-2016, 08:14 AM
 
1,807 posts, read 3,095,669 times
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Quote:
Originally Posted by mr roboto View Post
But just to be clear MPLS isn't unique in this. Our similar-sized metros (Seattle, Denver, St Louis, San Diego, Cleveland) I doubt you will find a cute, decently kept home in even an average hood/school district for 125k. That kind of buying power is reserved for small cities or small towns.

Maybe Des Moines, Madison, Wichita areas?
Pittsburgh, Indianapolis, possibly Cincinnati or Cleveland would be his only real bets.
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Old 08-24-2016, 08:19 AM
 
1,807 posts, read 3,095,669 times
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Whoops. Sorry. Beam Avenue is showing on MLS...I just hadn't looked far enough down.

That could be a good house for the OP, but again, needs some capital investment and / or hard work.
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Old 08-24-2016, 08:26 AM
 
182 posts, read 197,421 times
Reputation: 272
Not sure why the OP is being attacked for asking the question, I've known this forum to be one of the better ones! If $125K isn't doable, then just say it's not doable. No need question his parenting skills in the process!

No kidding. I thought the rule of thumb used to be not to spend more than 3x income on a mortgage. So a one income family making $50,000 is completely out of luck? And I don't see how renting really helps--rents are going up--hard to rent for less than $1,000/month. Maybe moving here doesn't make perfect sense, but I don't see any reason to get nasty about it.
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