Loading Data
The Motor City
Rebecca Wyatt | EXIT RIVERBEND REALTY
|
| This realtor has 1 active or recent property listings for $49,000 with the most recent sale on 2024-08-09 for $455,000. | |
| Serving the areas of Harrisville, Vienna, Spencer, Grantsville, Sistersville, Davisville, Kenna, Amma, Trimble & Watertown | |
Terry Coatney | For 32 years, I climbed the corporate ladder, leading teams and shaping brands at industry giants like Fleming Foods, Kmart, ... see full details and contact information for Terry ... it's a chapter in your story. And I'm here to help you write it. |
| Terry has 17 recent and active property listings that range in price from $59,000 to $2,390,000 with the most recent sale on 2024-06-26 for $680,000. | |
| Serving the areas of Washington, Little Hocking, Macksburg, Ripley, Belpre, Mineralwells, Macfarlan, Wingett Run, Pennsboro & Ellenboro | |
I can help you with that! Here are some of the advantages and disadvantages of homeownership in Detroit, Michigan:
Advantages:
- Home prices in Detroit are generally more affordable compared to other cities in the US, which means you may be able to get more house for your money.
- The city is experiencing a revitalization, with an increase in population, jobs, and economic growth, which may lead to increasing property values.
- Homeowners in Detroit have access to a variety of amenities, such as parks, museums, historic sites, and cultural events.
- Owning a home can offer long-term financial benefits, such as building equity and providing a stable, predictable housing payment.
Disadvantages:
- The city has a high crime rate, which may impact your safety and property values.
- Parts of the city have a declining population and a higher number of vacant homes, which can lower property values around those areas.
- Detroit has higher property taxes compared to other cities in Michigan, which could increase your monthly housing payment.
- As with any city, the housing market can be unpredictable, so there is always some level of risk involved in buying a home.
It's important to do your own research and talk to a real estate agent or financial advisor before making any big decisions about homeownership in Detroit or anywhere else.