Indianapolis Housing Market

[Rachel Meeks]

I will be moving to Indianapolis for a new job and I am considering the option of buying a small residential property close to downtown Indianapolis. I only plan to be there for the next three years. I am wondering if anyone has any insight on whether or not it is a favorable market in that area to buy with my shorter timeline. Also considering the potential investment opportunities for re-sale verse keeping it as a future rental property.  Thanks for your help and advice.  

Respectfully

Rachel

[Stacy Preston]

Rachel,

I think Indianapolis is a great market to purchase for either resale or buy-and-hold.  Indianapolis is an affordable city to purchase in, rates are low, and you would pay much less for your mortgage than you would if you rented.  I'm a fan of buy and hold so I would personally go that route.  If you purchase a fixer-upper, you may fare better if you sold in three years but I'm not sure how you feel about buying something that needs a little work.  Congratulations on the new job and welcome to Indy!  It's a fantastic city.