My fiancee and I are thinking of moving to Cleveland. We are currently in Boston and the cost of living here is SO high, we thought we'd be urban pioneers and give Cleveland a shot. She can keep her job and work remotely, so after selling our house here we could afford something in the $60k - $100k range cash, so own outright, and still have some savings in the bank.

 

What areas do you recommend? What should we steer clear of? Will that kind of money really buy us a decent house?

 

Thanks!

 

Where do you live in Boston? I just moved to Cleveland this past October after living in Boston for the past 5.5 years. I live in Tremont and love it. It is really close to downtown and sits pretty evenly between the West and East sides. Send me a private message if you would like to discuss more.

You'd be better off looking around with the idea of spending $100,000+

 

There certainly are deals to be had though, so you should talk to someone in the business.

It sort of depends on how much of a "pioneer" you want to be -

are you looking to buy a fixer-up in an emerging neighborhood, something established, a condo, etc ?

 

 

Maybe in North Collinwood, Asiatown, Slavic Village, Old Brooklyn, and on the outskirts of Detroit-Shoreway have potential for homes under $100K.

 

There are probably numerous groups you could talk to who would be willing to help.

 

For example:

 

Detroit-Shoreway: http://www.dscdo.org/default.aspx

North Collinwood: www.northeastshores.org/

Slavic Village: www.slavicvillage.org/index.php?module=article&view=8

Asiatown (Superior-St. Clair): www.stclairsuperior.org/

 

 

 

^ There are several great grants and low-interest loans available to potential homebuyers (some with no income requirements/qualifiers) in those developing areas. The websites should discuss them.

 

Average home price in the city and in the inner-rings is probably around $100k, I think, so the "developed" nice areas are priced above that threshold. Foreclosures can be had for nothing even in the nice areas and you can pick up a 2.4% rehab loan from the local nonprofit called Cleveland Action to Support Housing ("CASH").

^^Re North Collinwood, it would depend on how one defines 'North Collinwood.'  If it means north of the highway, I would say there would be some properties in that range.  If it means north of Lakeshore, then probably not.

I would strongly suggest that you...

 

rent for a year while you research neighborhoods. 

 

There are plenty of good options. Some are much more Pioneery than others.  Where will you be working?

 

How old are you?  Kids, now or near future?  Want to try to live without a car? or 1 for 2 people?

 

Do you want a house, townhouse, or condo?

 

It would really suck for you to buy in Shaker Square and have to commute to Westlake or Independence.

 

Or Buy in Edgewater and have to commute to Solon.

 

And if you plan on having children, sadly you will want to buy in a suburb or plan on forking over the $ for a private education.

 

 

I agree with ksonic's post.

A big question is how much sweat equity are you willing to put in to improve a place yourself.  You can still find some really cheap places in decent neighborhoods, but it almost always means there are major condition issues.  The very cheapest properties, which I assume you'll want to avoid, will typically be missing pipes, wiring and appliances, thanks to the local scrap thieves.

 

As to location, it really depends what types of amenities you are interested in.  If I were in your position, I would look in Tremont, Ohio City, Detroit Shoreway, Asiatown, southern Glenville and even Shaker Heights, Cleveland Hts and Lakewood.  These last three are inner ring suburbs with lots to offer, so you wouldn't exactly be a pioneer, but if you're handy and willing to put a lot of time and your own work in a house, you might be able to find a bargain.  Some great building stock there.  IMHO, Slavic Village wouldn't give me a ton of hope I'd be able to recoup my investment (as much as I hate to say it) and Collinwood is a little too far from the other activity spots in the city for my liking, though the Waterloo road commercial strip is a good(but small) scene.

 

I have no personal experience with them, but one local realty company, Progressive Urban Real Estate Specializes in urban properties and might be a good resource (www.progressiveurban.com).

 

You'll find no shortage of folks here willing to weigh in on specific locations, so feel free to ask away as you progress.  Good luck!

 

And if you plan on having children, sadly you will want to buy in a suburb or plan on forking over the $ for a private education.

 

 

 

Or you know, send your kid to Riverside, Benjamin Franklin, or one of the blue-ribbon schools in the CMSD  :roll:

 

Seriously, though, you can find fixer-uppers in that range many places in the city.  I'd recommend looking in parts of Detroit-Shoreway and Ohio City (closer to Lorain Ave. in both of those neighborhoods,) Collinwood, Asiatown, Buckeye/Larchmere west of Shaker Square, and maybe even parts of Clark-Fulton.  Those areas give a range of gritty, urban pioneer-type experiences.

 

Really, though, renting would be a better option in the near term.  You can check out those neighborhoods individually, and then make a more informed decision based on your personal comfort level.

^ Rent. It's not that a house is a bad investment (at this price point, you probably can't go wrong anyway) but the different neighborhoods offer a really diverse set of options and different "feels" that can't really be appreciated by a single visit. You may move into a house in Lakewood but find that all your favorite spots are in Ohio City. FWIW, you can rent a house for pretty cheap in most of these areas, and I found out last year that such rents are negotiable. Check Craigslist for options.

Just for sake of keeping track of how our city gets discovered...What had you looking in this direction? Always interesting to know.

 

On living here, and this is just based on my opinion, I think renting first may be a good option to get a fee for things and many here can make some great suggestions, but later on, buying is good because you can get great deals now, especially if you happen to pick up a foreclosed property...  There are many great loan incentives to renovate a house. Since many rents these days rival a mortgage, I am opting back to owning a place again as I have for 7 years...But this is entirely dependent upon your own personal situation. Renting has its advantages so does buying.

 

If you can buy a cheap place that can be actually paid off in a short time with the rehab, then you have a great place for marginal investment...and it is YOURS to make how you would like it.

 

Also, if you really want to be "pioneering" Urban Pioneers, I say go for the gusto and in the spirit of being pioneers who help to gentrify new and lesser untapped areas that have potential and are stable... I say go with that. Old Brooklyn is such a place... I am tending to look at the less popular areas right now to start seeding revitalization in such areas with a handful of others who feel the same.

 

But, if you're not ready to take on all that...then there are plenty of choices that will cover any break-in period of getting familiar with the area.

Yep. Rent first. Explore the city for 6-12 months. You don't buy a house -- you buy a neighborhood. If you have a great house in a neighborhood you don't like, what's the point?

 

And if you plan on having children, sadly you will want to buy in a suburb or plan on forking over the $ for a private education.

 

 

 

Or you know, send your kid to Riverside, Benjamin Franklin, or one of the blue-ribbon schools in the CMSD  :roll:

 

While those schools are better than most CMSD schools, they are not blue ribbon schoold.  They are still on "School Improvement" status which means they failed to meet Adequate Yearly Progress measures set by the state in recent years (and FYI:  you must meet AYP standards, among other things, in order to be deemed a blue ribbon school).

Yep. Rent first. Explore the city for 6-12 months. You don't buy a house -- you buy a neighborhood. If you have a great house in a neighborhood you don't like, what's the point?

 

In the past, many people who love older and historic homes have bought homes in neighborhoods they were not the most thrilled about, but loved the house. But this, of course applies to those who are eccentric types and really into the historic appeal of the house itself and probably not the motivation of the original poster of the Cleveland inquires to which we are answering. But, its interesting because many pioneered Ohio City's turn around under that kind of thinking that actually loves the house itself more than the overall neighborhood. My ultimate goal is to buy an entire neighborhood, rehabilitate the homes.... and promote it to those who share in the vision for what I have envisioned in emphasizing on quality of life, sustainability, environment, and...quality over quantity aspects.

I agree, rent for a year. I am sure the prices are not going to go up that much if at all. Once you buy in Cleveland, don't plan on selling anytime soon. This is not said to discourage home ownership, but it is not like other markets where you put something on the market and it sells pretty quickly. It is simple math, we are losing population so it can take time. I think there are lots of nice oppurtunities of pioneering in that price range though. but I have a different threshhold for pioneering than many. Welcome and enjoy Cleveland.

The city has been losing population but the region has been stuck at 2.9 million since 1960. And the rate of loss in the city has slowed greatly since the Great Bloodletting of the 60s-80s.

I think the poster wants to live in the city or inner ring, but maybe I just assumed. It is hard to be an urban pioneer in avon

While those schools are better than most CMSD schools, they are not blue ribbon schoold.  They are still on "School Improvement" status which means they failed to meet Adequate Yearly Progress measures set by the state in recent years (and FYI:  you must meet AYP standards, among other things, in order to be deemed a blue ribbon school).

 

I didn't say they were.  Re-read what I wrote, with a little care this time.  FYI:  Google can tell you which schools in the CMSD are blue ribbon.  Anything else? PM me.

 

I agree, rent for a year. I am sure the prices are not going to go up that much if at all. Once you buy in Cleveland, don't plan on selling anytime soon. This is not said to discourage home ownership, but it is not like other markets where you put something on the market and it sells pretty quickly. It is simple math, we are losing population so it can take time. I think there are lots of nice oppurtunities of pioneering in that price range though. but I have a different threshhold for pioneering than many. Welcome and enjoy Cleveland.

 

I might put it a little differently.  Some properties are snatched up pretty quickly, while similar ones in the same neighborhood can take a really long time to sell.  My impression could be wrong, but I see it more as a really spotty market in terms of resale.

 

I think the poster wants to live in the city or inner ring, but maybe I just assumed. It is hard to be an urban pioneer in avon

 

Definitely... An urban pioneer is by definition urban!

I agree, rent for a year. I am sure the prices are not going to go up that much if at all. Once you buy in Cleveland, don't plan on selling anytime soon. This is not said to discourage home ownership, but it is not like other markets where you put something on the market and it sells pretty quickly. It is simple math, we are losing population so it can take time. I think there are lots of nice oppurtunities of pioneering in that price range though. but I have a different threshhold for pioneering than many. Welcome and enjoy Cleveland.

 

I might put it a little differently.  Some properties are snatched up pretty quickly, while similar ones in the same neighborhood can take a really long time to sell.  My impression could be wrong, but I see it more as a really spotty market in terms of resale.

 

With the exception of North Collinwood (and only south of the Boulevard and away from E. 185th), Slavic Village, and Glenville, the neighborhoods suggested in this thread have fairly active real estate markets for livable properties. If you're watching Tremont right now, especially, that real estate market is actually heating up again as we speak. The foreclosures are another story, but even those are starting to see some stirring activity in Collinwood with people rehabbing them. Barring any catastrophic (and unexpected) meltdown, chances are, real estate prices aren't going anywhere, especially in the solid neighborhoods that were suggested here.

 

By the way, this neighborhood map might be useful for getting your bearings about what neighborhoods people are talking about:

http://www.city-data.com/forum/attachments/general-u-s/34198d1232027660-map-neighborhoods-your-city-cleveland-neighborhoods.gif