I will come to Toledo for 4 years residency, should I rent or buy, how about Maumee? (Sylvania: sale)

[downstream]

I will come to Toledo to do 4 years residency too. My qustions are:

-Should I rent an apartment or buy a condo/house?

My initial plan is to buy a condo in a nice safe neighborhood. But
I heard that condo is hard to sale after 4 years. I want to hear more opinions about this. Buying a small-median size house is also an option for me.

-For renting, where is the best place to live (considering safety, distance, and cost). My work site will be at the Toledo University Medical center.

-I read the website, and get some idea of Sylvania, Ottawa Hills and Perrysburg as nice places to live. I was lately suggested that I should look into Maumee as it is closer the medical center. Is Maumee a better choice for me?

I expecially need some advice for finding a right aprtment if renting is a better choice.

Thanks

[canudigit]

Maumee, Perrysburg, and Monclova Township would all be very nice, safe areas within a twenty minute drive of the UT Medical Center.

Perrysburg is a combination of old money neighborhoods on the river and middle class to upscale subdivisions with some fairly upscale shopping thrown in. It is a wonderful, safe town just across the river from Maumee and there are plenty of condos there to look at.

Maumee has an older section with small, post WWII homes that is nice but nothing fancy, an old money section similar to that in Perrysburg on the riverbank directly across from Perrysburg, and nice, newer subdivisions in the western parts of the city. It would be really close for you to go to work and probably more reasonably priced than Perrysburg.

Monclova Twp. is a nice suburb just west of Maumee with mostly nicer subdivisions and some good shopping.

All three of these areas are considered very safe and strongly middle to upper class with very good schools, which would help with resale value if you do decide to buy a house or condo. Ottawa Hills is a wealthy enclave in west Toledo that wouldn't be all that far to drive, but you would be paying to say that you live in Ottawa Hills.

If it were me, I would probably consider buying, since prices are historically low right now and can probably only go up, meaning that you would probably come out ahead when you decided to sell later.

[downstream]

Thanks Canudigit for your valuable inputs. I will absolutely look into these three areas.

[ryansmith]

Should you buy: I have heard of a lot of residents that bought that lost money because of the real estate market crashing. I can't promise that the market is going up; no one knows exactly what it will do. BUT, real estate is very inexpensive in Toledo and it is reasonable to think you could make a profit after four years.

Where to rent close to UTMC: There are really nice rentals in my neighborhood (Harvard Terrace http://harvardterracetol.exofire.net), which is about a mile from UTMC, if you would be interested in a historic duplex. I know there are some signs out (owner rented, not listed on websites). I can take down some numbers if you would like. I live here and find it to be very friendly, a short walk to the river, and very child and pedestrian friendly. The rents in this neighborhood are generally less expensive than suburbs and many of the duplexes are owner-occupied.

Maumee: Maumee is easily the closest suburb to UTMC. A few years ago I rented a house there and I do know that the rents are much higher. Maumee does have a lot of charm, but the commute may be more annoying than you want to deal with.

Those are some factors I think you should consider... there are benefits and drawbacks to any choice.

[downstream]

Hi Ryansmith,

Thanks for your inputs. I decided that to buy a house may be is the best for me.

I will start to look at Maumee first. Thanks.

Any additional inputs are welcome.

[toledoCalling]

Hi Downstream

I am in your situation currently. Will be starting 3-year residency this 2016.
How did it go with you? Should I buy or rent?