Most first-time home buyers are looking for certain
MN real estate characteristics. For instance, you want a place that has a proven track record of appreciation – not a neighborhood that may plummet in value over the 30+ years you live there. Secondly, you want a place that is mostly owner occupied, safe and well-educated. You want a city that is chalk full of amenities like supermarkets, plazas, shopping centers, restaurants and recreational opportunities. You naturally want a neighborhood that offers a reasonable price range near quality schools. This sort of
MN real estate
is where you will feel most at-home.
Minneapolis
MN real estate has some of the best offerings for first-time home buyers. Most of the real estate here is comprised of condo high rises and townhome complexes. There are also a number of smaller (1-2 bedroom), well-established single family residences built between 1940 and 1969, not to mention a smattering of historic homes built prior to that. Residents of Minneapolis come from all ages and include seniors, college students, families and upwardly mobile singles. Here you’ll find Italian Americans, Irish Americans, African Americans, Hispanic Americans and East Asian Americans in most neighborhoods. Since 1990, Minneapolis has seen an appreciation rate of more than 256%, which indicates that your home will be valuable for years to come. Jobs are ample in this part of
MN real estate, with five Fortune 500 company headquarters stationed here, including Target, Bancorp, Xcel Energy, Ameriprise Financial and Thrivinet Financial for Lutherans. This high-tech city offers a lot of well-paying jobs for young couples just getting started. For entertainment, this region is second only to New York City in terms of live theaters per capita, and there are ample art galleries, museums and music clubs for Jazz and Indie Rock in particular. The city is well-known for its biking, running, fishing and skiing opportunities for people who love the outdoors.
Eden Prairie,
MN real estate
is another wonderful section for first-time buyers. Suburban Eden Prairie offers mostly single family detached residences with 3-4 bedrooms in the $180,000 - $300,000 range. Most homes were built from 1970 – 1994, but there are also a number of newer homes built in the last few decades. Families here are in the wealthiest 15% of the nation, with a median family income of $105,177, but they come from all ages and backgrounds that include Italians, Irish, East Asian and Hispanic. Appreciation rates have gone up over 170% since 1990, with an average increase of 8% per year. Residents like Eden Prairie because there are over 170 acres of public parks with multiuse trails, lakes, ponds, as well as over 2,200 businesses and headquarters. Money Magazine has named Eden Prairie one of the “Best Places to Live” consistently since 2006. As the home of the Minnesota Vikings, you can expect your neighbors to include professional football players like Antoine Winfield, Brett Favre, Sidney Rice, Visanthe Shiancoe, Chad Greenway, Cedric Griffin and Ian Johnson.