MSP metro on 70K w/2 kids.....doable? (Minneapolis, St. Paul: real estate, how much)

[نصار]

Your welcome bud. Eden Prairie it is pretty expensive but 70k could get you a nice town home if thats an option for you.

But you should diffidently consider moving to Minnesota. Its much better than any other of the cities you mentioned and funny thing is those are all great cities. But the Twin Cities pretty much has everything. And its probably the best place to raise a family. Also alot to do around the Cities. Like Weekend trips to Wisconsin Dells. Going Up North. Casinos, Theme Parks, Malls and Ski-Snowboard resorts all very close to each other

[golfgal]

Originally Posted by Northman

Thanks, friend, although we haven't actually decided on Minnesota just yet. We're also considering Seattle, Olympia, Denver, Colorado Springs, and Pittsburgh at this present time. Seattle is gonna be tough because of the COL there, but it's too soon to rule it out. Minnesota is definitely on top of our list, though. It makes sense on just about every level for us.

As for Eden Prairie, isn't that the most expensive suburb of MSP? We probably couldn't afford it on our income.

Eden Prairie is one of the more expensive places to live but not the "most expensive". You would be hard pressed to find a house that is nice in Woodbury for 70K, Woodbury isn't a cheep place to live either.

[Sonata36]

Very doable. I have relatives with a combined income of under $60k and live in a very nice, family-friendly suburb of Minneapolis, in a very nice house, even two blocks from a lake.

[DutchGirl2MN]

You have the honor of being the cause of my very first post on here, just found this tonight.

If you're ok with more of a commute, there are some VERY workable areas in the TC metro areas on that kind of income. We've lived here 10 years now and I still cannot believe how much I love this state. For reference, my husband and I are mid-thirties, have been married for 15 years, and have 3 middle-school aged kids. We're pretty low-key and pretty much like to enjoy our home and each other except when we want to do something specific in the cities or have had a need for medical care, and then it is so awesome to be so close to such a FABULOUS city!!!

We have EXTENSIVELY used the medical system throughout Mpls and the SW metro in the last 10 years (Children's, Southdale Hosp, Abbott NW, Methodist, Ridgeview, St. Francis.... we've had some really tough years but praise God everyone's doing well now!) and it is so reassuring to have so many options and specialists all so close.

My husband works up in western St.Louis Park/Hopkins and commutes 35-40 min (all freeway) to our little "exburb" bedroom community which has a pop. of just under 7000. Since the housing bubble burst here you can definitely get a newer construction home with 3-4/5 bedrooms for under 200k. There are unfortunately many forclosures and short sales on hand right now and it could work in your favor as it is pulling prices down on regular sales. To give you an idea, the house next door to ours, built in 2001 and originally sold for 164k I think, was sold at the peak of the bubble to the family who lives there now in the summer of 2006 for 217k. A nearly identical house a street over just sold after a foreclosure last fall for 133k. So you can see it's just insane.

I'd better stop yakking and go to bed. But give the cities some serious thought before deciding it's too pricey here! We had sticker shock too a decade ago, but there are lots of ways of making life work and you sound like a perfect MN family.

Cheers,
Ali

[Tyryztoll]

Wow DutchGirl, that's a great post......very encouraging! Yes, we took advantage of the housing crisis to get the home we're in now, which at one time was valued at over 200K, and which we paid 135K for. Would love to be able to do the same when we move!

Can you give me a general idea of where you guys live? I've been doing a lot of research on the suburbs and exurbs of MSP and would like to get as much info as possible.

We just got back from a visit to Pittsburgh. Very nice town, and what an awesome job they've done with their downtown area. We're now planning a visit to MN in the fall, and I can't wait to get there.

[ceeb4]

Originally Posted by DutchGirl2MN

You have the honor of being the cause of my very first post on here, just found this tonight.

If you're ok with more of a commute, there are some VERY workable areas in the TC metro areas on that kind of income. We've lived here 10 years now and I still cannot believe how much I love this state. For reference, my husband and I are mid-thirties, have been married for 15 years, and have 3 middle-school aged kids. We're pretty low-key and pretty much like to enjoy our home and each other except when we want to do something specific in the cities or have had a need for medical care, and then it is so awesome to be so close to such a FABULOUS city!!!

We have EXTENSIVELY used the medical system throughout Mpls and the SW metro in the last 10 years (Children's, Southdale Hosp, Abbott NW, Methodist, Ridgeview, St. Francis.... we've had some really tough years but praise God everyone's doing well now!) and it is so reassuring to have so many options and specialists all so close.

My husband works up in western St.Louis Park/Hopkins and commutes 35-40 min (all freeway) to our little "exburb" bedroom community which has a pop. of just under 7000. Since the housing bubble burst here you can definitely get a newer construction home with 3-4/5 bedrooms for under 200k. There are unfortunately many forclosures and short sales on hand right now and it could work in your favor as it is pulling prices down on regular sales. To give you an idea, the house next door to ours, built in 2001 and originally sold for 164k I think, was sold at the peak of the bubble to the family who lives there now in the summer of 2006 for 217k. A nearly identical house a street over just sold after a foreclosure last fall for 133k. So you can see it's just insane.

I'd better stop yakking and go to bed. But give the cities some serious thought before deciding it's too pricey here! We had sticker shock too a decade ago, but there are lots of ways of making life work and you sound like a perfect MN family.

Cheers,
Ali

Thanks so much for your post! We are moving to the TC at the end of the month and we are very excited. It is so encouraging to hear a TC "transplant" be so positive about the area. We too have a middle school child going into 6th grade and we are hoping the transition will be smooth for him. Again, I appreciate your post and positive attitude!

[sellinginmn]

70k is super doable in the Twin Cities. Woodbury gets you nice newer housing stock that would be in your price range. I would also consider housing in School District 196.

We love Minnesota - the suburbs of the Cities tend to be very family oriented and friendly and safe. We love Minneapolis as well, there are so many things to do, especially in the summer.

We love Northern Michigan and spend a lot of time there in the summer.

[Tyryztoll]

I've heard Woodbury a few times in this thread, so I've been checking it out. Aside from townhomes, which I'm not sure we could do with rambunctious 7 and 8 year old boys, I don't see anything even close to new for under $250-300K. Am I missing something? Don't get me wrong, some of these townhomes are pretty nice, but I want our next home to be one that our kids will grow up in, and I'm having a hard time envisioning a townhouse in that scenario.

What I really want to know is who are all these people buying these 3, 4, 500K homes in this economy? I have a degree in a skilled trade, and I couldn't afford any of those homes. Are there that many doctors and lawyers out there?

[ceeb4]

Originally Posted by Northman

I've heard Woodbury a few times in this thread, so I've been checking it out. Aside from townhomes, which I'm not sure we could do with rambunctious 7 and 8 year old boys, I don't see anything even close to new for under $250-300K. Am I missing something? Don't get me wrong, some of these townhomes are pretty nice, but I want our next home to be one that our kids will grow up in, and I'm having a hard time envisioning a townhouse in that scenario.

What I really want to know is who are all these people buying these 3, 4, 500K homes in this economy? I have a degree in a skilled trade, and I couldn't afford any of those homes. Are there that many doctors and lawyers out there?

Hi, we are moving to the Twin Cities at the end of the month and we have done a lot of research both on this forum and other websites as well as having had previous friends who lived here who gave us advice. We have been to the TC a few times to check out the different areas/suburbs and we ultimately chose the 196 school district. (Apple Valley-Eagan-Rosemount, parts of Lakeville & Burnsville).

We are renting to start because we want to make sure we are staying before buying. But I will say, we looked at a lot of homes in this area both in person and on-line and there are many lovely homes available in the 250-300k price range. But we also are moving from Long Island where you get a cracker box for 400k so please keep that in mind in my comments. I also prefer older established neighborhoods as well so I haven't done a lot of research on new homes/developments.

I also have several searches saved on a realtor's website that sends me updates every day and prices continue to fall. Several of my "saved favorites" prices have dropped 20-40k since we first viewed them in March. Also, there have been instances where the homes seemed too good to be true for the money and when we viewed them, we were right. Either the pictures were taken a long time ago, there were huge power lines in the back yard or it backed up to a major highway. Although I really didn't want to move twice, I think renting is the best way to go when you first move so that you can get a better feel of the area(s).

I'm with you too, I don't what these people do that are buying these very expensive homes. Here on Long Island, we have friends that live in large nice homes and pay 17k in property taxes a year. They ride the train into the city at 6:30am and don't get home until around 8:30-9:00 every night. What kind of quality of life is that? Certainly not how I want to live.

All in all, we are very excited to be moving, just wish I could twitch my nose and it would be done already!

[northsub]

Originally Posted by Northman

I've heard Woodbury a few times in this thread, so I've been checking it out. Aside from townhomes, which I'm not sure we could do with rambunctious 7 and 8 year old boys, I don't see anything even close to new for under $250-300K. Am I missing something? Don't get me wrong, some of these townhomes are pretty nice, but I want our next home to be one that our kids will grow up in, and I'm having a hard time envisioning a townhouse in that scenario.

What I really want to know is who are all these people buying these 3, 4, 500K homes in this economy? I have a degree in a skilled trade, and I couldn't afford any of those homes. Are there that many doctors and lawyers out there?

If you're looking for newer and less than $300k, I'd look in the north. Blaine sounds like it might work well for you. Maybe Andover or Brooklyn Park north of 610 as well. All of these places would have plenty of trails and be safe. Blaine and Brooklyn Park will have diversity as well. Blaine has a bit of a sports emphasis (National Sports Center and some other things). There's some concern about Brooklyn Park for crime, but the vast majority of the crime is south of 610.