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Old 04-12-2017, 01:24 PM
 
3 posts, read 3,242 times
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I was just approved of a home loan of 150k. Originally I was approved of 180 but it got cut back and it has severely limited my option. The only places I can find single family homes are in Payne-Phallen, Daytons Bluff and scattered out throughout North Minneapolis. There is also one house in east Philips. My questions is what area would be the best for a young family? My household consitsts of Myself, my girlfriend and our daughter. My favorite house so far is on the 46xx block of russel ave. My second favorite would have to be one in Saint Paul in case ave just east of Arcade St. I've also been looking at numerous houses just north of Dowling Ave and south of Webber park, around 42nd ave. My question is what area seems the best. I would love or an area that is safe and ideally an area that is walkable, although it is not nessiasry as safety for our daughter is my number one priority. Thank you!
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Old 04-12-2017, 01:57 PM
 
Location: Twin Cities (StP)
3,051 posts, read 2,575,446 times
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Quote:
Originally Posted by Mndweller View Post
I was just approved of a home loan of 150k. Originally I was approved of 180 but it got cut back and it has severely limited my option. The only places I can find single family homes are in Payne-Phallen, Daytons Bluff and scattered out throughout North Minneapolis. There is also one house in east Philips. My questions is what area would be the best for a young family? My household consitsts of Myself, my girlfriend and our daughter. My favorite house so far is on the 46xx block of russel ave. My second favorite would have to be one in Saint Paul in case ave just east of Arcade St. I've also been looking at numerous houses just north of Dowling Ave and south of Webber park, around 42nd ave. My question is what area seems the best. I would love or an area that is safe and ideally an area that is walkable, although it is not nessiasry as safety for our daughter is my number one priority. Thank you!
I don't know much about North Minneapolis, but of the two St. Paul areas I would choose Payne-Phalen. They are some of the least safe areas in St. Paul, but I would say that Phalen is more family friendly.
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Old 04-12-2017, 02:24 PM
 
264 posts, read 311,332 times
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Quote:
Originally Posted by Mndweller View Post
I was just approved of a home loan of 150k. Originally I was approved of 180 but it got cut back and it has severely limited my option. The only places I can find single family homes are in Payne-Phallen, Daytons Bluff and scattered out throughout North Minneapolis. There is also one house in east Philips. My questions is what area would be the best for a young family? My household consitsts of Myself, my girlfriend and our daughter. My favorite house so far is on the 46xx block of russel ave. My second favorite would have to be one in Saint Paul in case ave just east of Arcade St. I've also been looking at numerous houses just north of Dowling Ave and south of Webber park, around 42nd ave. My question is what area seems the best. I would love or an area that is safe and ideally an area that is walkable, although it is not nessiasry as safety for our daughter is my number one priority. Thank you!
I would stay away from all these areas and get a townhouse or a condo in a decent school district - safety and school quality are more important, IMHO, than having a detached house.
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Old 04-12-2017, 02:57 PM
 
Location: Minneapolis, MN
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Agreed, I'd shop around for a townhouse, co-op or duplex in a better area.
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Old 04-12-2017, 03:18 PM
 
Location: Minneapolis, MN
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I think your work location should influence the area you're focusing in, to an extent. My observation is there isn't a big difference in the neighborhoods you mentioned. They are all lower income areas with some blight and crime issues but all have some potential for gentrification. If you own a house in any of those places the word "gentrification" will be music to your ears, trust me. If I had to choose from the areas you mentioned I'd take the house in East Phillips. The area has become more liveable in the last decade thanks to the light rail, midtown global market and other development near both of those areas. I suspect investment and improvement will continue there in the coming years while the northside will continue to struggle.
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Old 04-13-2017, 07:09 AM
 
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None of them. All those areas are pretty full of crime and rising.
I would not raise children there. Also the school districts in those areas I would not send my children to.

Maybe you want to wait until you can afford more.
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Old 04-13-2017, 09:25 AM
 
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Do you need to be in the city? Seems like $150k could get you something passable in a house in some of the working-class suburbs. Or, like others have said, $150k should get you a pretty decent townhouse in a lot of different areas.
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Old 04-13-2017, 09:47 AM
 
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Sometimes you can find a house in the West Seventh area of St. Paul in that price range. I would feel more comfortable in that area. Right now is tough; the real estate market is pretty pumped up.
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Old 04-13-2017, 11:06 AM
 
264 posts, read 311,332 times
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Is 150k the max loan amount, or the max purchase price? If it is the former, and you have 20% down, this pushes your purchase price to around 185k - this opens a wider range of properties.

I would still go with a condo/townhouse in a decent area vs. a single-family residence in a higher-crime, lower-income area, though some of the neighborhoods may be on the verge of gentrification. But one's child needs to attend school now, or in 1-2-3 years.

At least Minneapolis is not Toronto, where an average SFR is well over a million (loonies), and a house in the ghetto (their ghettos being much worse than ours, according to a Canadian relative) is 300-400k.
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Old 04-13-2017, 02:46 PM
 
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Agree with the other commenters. None of those areas are a good place for a child. If my price was 150K I would probably buy a townhouse in Eagan (196 school district). Eagan is pretty diverse (for a suburb) has good schools, nice parks and trails and decent highway access.
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