Why it’s a Good Time to Buy in the City

Living in the city could be the perfect fit for you.

City neighborhoods are bustling – not only with new restaurants, clubs and businesses, but with lots of new and renovated housing as well. And it’s no wonder why — recent surveys reflect that homeowners want walkable neighborhoods with loads of amenities, which is what many urban areas have to offer.   City-living isn’t for everyone, but if you’re thinking it might be a good fit for you, here are a few reasons why it’s a good time to buy in the city:

Walkability: Imagine living just steps away from your favorite restaurant or night-spot. Or perhaps just blocks from the river walks or concert halls and theaters? And you still have places nearby to purchase groceries and visit the dentist or doctor as well. Walkability is becoming a bigger factor for many people looking for housing, and moving to the city can offer that and more.

Is living in the city the right choice for you?
Is living in the city the right choice for you?

Housing Options: Historic in-town neighborhoods provide the best models for successful city living.  True townhouses, appropriately scaled condos, and of course, single-family detached homes on smaller lots are all options. So if you want NO yard work, you can find a place that’ll work. If you want a little place to garden, that’s available as well. A room with a view? You bet.

Transportation: City life offers a lot of options to get around. Not only walking, but biking is a popular mode of transportation as well as buses and light rail. It’s convenient, accessible and affordable. Commute times and costs can reduced by living and working in the city as well.

Diversity: Not just in terms of the people nearby, but businesses, shops and restaurants – local mom and pop shops, great independent restaurants…there is something for everyone living in the city.

Recent surveys suggest that 58% of home buyers prefer neighborhoods with a mix of houses, stores and businesses – all within an easy walk. That’s not to say that traditional suburban life is dramatically declining, it’s just that the interest in city living is increasing.

Things that might make you think twice:

Children – living in the city isn’t always the best for kids – depending on just how urban you want to be. Downtown living offers more working adults as neighbors and fewer families nearby (fewer friends to play with) and schools might not be just around the corner. City neighborhoods outside of downtown, can have more of a family-feel, but have smaller lots for play-sets and much more street traffic to deal with and navigate.

Late Nights – as much as some adults might love what the late-night has to offer in the city, it also has its downside. More car traffic, more foot traffic until the wee hours of the morning, and more noise as well. Just make sure you consider these things before making your big purchase.

In the Twin Cities metro area there are many great city neighborhoods to consider – ranging from downtown living to city living (but with a slightly-suburban feel). One resource to check into on up and coming neighborhoods is in last spring’s Minnesota Monthly magazine.

Whether you’re a single working adult, newly married, young family or empty nester, there IS a city neighborhood that would make a good fit for you – one that provides everything you need, want and more.

The Minnesota Association of REALTORS® is the largest trade association in the state with more than 17,000 members. MNAR is the voice for real estate in Minnesota.

 

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