Lofts - Rent or Buy

[esaercules]

I am relocating to Lansing to start a new job at MSU. I have been looking at lofts and new developments such as The Stadium, MW, Hollister, The Lofts at Washington Sq, Allegan, and in downtown Lansing, and Albert Place at East Lansing. I know the economy is not the best, but is it time to buy or rent? Do people have a sense about that, and how the downtown "Renaissance/cool ciy" is being received? I don't know where is a good place to live, but I would prefer a more urban city environment. Is downtown East Lansing just too much of a undergraduate college party town, making downtown Lansing better for younger professionals? Do people have things to say about these developments and if there are other possibilities? Lots of questions here but any insights would be appreciated. I have been looking at the threads and viewing pics by folks about developments in the Lansing area. Thanks, they are very nice!

[beatneck]

First off, welcome to Lansing.

If you prefer an urban/city environment and are not for the undergrad scene, I would point you in the direction of downtown Lansing. However, I will have to stop short of recommending the rent or buy option as I have not researched current prices in either market.

If I were looking though, I might choose something on Washington Square. Not sure how much Im helping here....

[hood]

I think it doesn't matter whether you rent or buy now, prices should remain steady for a couple years at least. I would only consider buying if it was in the proposed capitol club tower though, a true high-rise. Any of the places you mentioned would due for a rental in the meantime though.

[coyne]

I am relocating to Lansing to start a new job at MSU. I have been looking at lofts and new developments such as The Stadium, MW, Hollister, The Lofts at Washington Sq, Allegan, and in downtown Lansing, and Albert Place at East Lansing. I know the economy is not the best, but is it time to buy or rent? Do people have a sense about that, and how the downtown "Renaissance/cool ciy" is being received? I don't know where is a good place to live, but I would prefer a more urban city environment. Is downtown East Lansing just too much of a undergraduate college party town, making downtown Lansing better for younger professionals? Do people have things to say about these developments and if there are other possibilities? Lots of questions here but any insights would be appreciated. I have been looking at the threads and viewing pics by folks about developments in the Lansing area. Thanks, they are very nice!

[hood]

First, this site isn't to advertise your apartment, so don't be suprised if an admin removes your post. Second you aren't going to get many, if any people in this forum to agree that EL is "cooler" than downtown Lansing, especially with all thats going on in downtown Lansing.

[Adieoz]

Congrats on the job and the move to the area! As a young professional, I would recommend Downtown Lansing as well. EL is great, trust me I had my fair share of good times there as an undergrad, but even at 25 I feel too old to live down there. It seems that there are more graduate students and young professionals in Lansing.

As far as the rent vs. buy question...I think it is all a matter of how long you plan on living here and maintaining the loft lifestyle. I am a realtor and I used to tell people you should be sure you could live there for at least 3 years, but now I feel like that number is more like a minimum of 5 years. That being said, it is a GREAT time to be a buyer. Perhaps you should rent for one year and see if the loft lifestyle is one that you would like to have on a longer term basis.

Good luck with your move. Also, you may want to check out a local social networking club for young professionals called Grand River Connection. It is a great way to meet new people if you don't know many people in the area.