Michigan City Among the 10 Best Markets for First-Time Home Buyers
Making the move from renter to homeowner is a huge leap and one Michigan city has landed on the list of the 10 best markets for first-time homebuyers.
With more companies offering remote-work options, living where you want to live as opposed to living where you work can open up possibilities for first-time homebuyers.
Realtor.com crunched the numbers, focusing on markets that have fewer than 100,000 residents and are within a reasonable driving distance of a major metropolitan area. Strong job markets are part of the equation as well as easy access to entertainment and activities.
If that sound like a suburb of Metro Detroit to you, you're absolutely right.
Ferndale, Michigan makes the top 10 list of best markets for first-time home buyers, coming in at number nine on the list.
What Makes Ferndale So Special?
According to National Mortgage News, Ferndale has a "neighborly, small-town feel but it also has the big city, big town amenities, and conveniences."
It's about a 10-minute drive from downtown Detroit and as for home prices, the city boasts a mix of homes at different price points. The website says first-time homebuyers can find the best of both worlds because "you can have really affordable houses on one street, and the next luxurious [homes].
Here are the top 10 best cities for first-time homebuyers, ranked by Realtor.com:
- Magna, Utah
- Chalco, Nebraska
- Mauldin, South Carolina
- Beech Grove, Indiana
- Portsmouth, Virginia
- Cottage Grove, Wisconsin
- Grimes, Iowa
- Kuna, Idaho
- Ferndale, Michigan
- Maitland, Florida
More about each city can be found on National Mortgage News.