[MBY]

My partner and I recently moved to Montpelier and are interested in becoming first-time home buyers. Our budget is pretty low, but we have very good credit and a decent amount of money saved up for a down payment. Why rent when you can buy?

Our dilemma is that we don't know the Montpelier housing market well. We have gotten a little bit of a sense of the areas of the city we like best; however, we're not 100% sure what holds value here.

As it stands, it seems as though we have a couple of options. Initially we wanted to buy a detached home but then realized that we're not sure we have the time or money to maintain that kind of property. We began looking at multi-family units and have found one that we like. It is in the Liberty Street neighborhood - a 2 bedroom unit in a 4-apt Victorian.

I'm not sure whether or not this is the proper forum for this and I know that there is always risk involved, but I guess my question is this. For the people who live in Montpelier or are familiar with the housing market here: in your opinion, is it better to buy a shared unit near downtown, or cough up the extra money (or wait) to buy a detached home in say, the College Hill neighborhood?

What are the reputations of the neighborhoods? We currently rent in the Barre-O and know that we don't want to buy here. But what neighborhoods have strong reputations? Where do homes hold their value? What are your thoughts on attached units vs. detached single family homes in Montpelier?

Thanks for the help!