Why New Construction Homes Are Good For Powderhorn And South Minneapolis
This property is right off 28th Ave S and 38th Street in south Minneapolis. Technically, it is in the Powderhorn neighborhood and these new construction homes will help build up the neigborhood for a couple of reasons. First, there are a lot of homes in south Minneapolis that don't really make sense to try to remodel. They are either too small and the layouts don't work for the way people live nowadays or they just need so much work that it makes more sense to tear them down and start new. I have been in at least 4-5 homes north of 38th and east of Cedar that are worth around $100,000, but need at least $70,000 worth of work. At that point you are basically remodeling everything in the home. It is hard to find a first time buyer that will be able to do that much work to a property and it is hard to find a flipper to go in and do that much remodeling work as well. If the location is good it is easier right now to find a builder that will build out the house or an investor that will buy it and then find the builder.
Second, I think adding these new construction homes will bring good buyers to the neighborhood, with good jobs, and they will want to make sure the neighborhood keeps getting better. Most people who just spend $400,000 on their brand new house will want to make sure the neighborhood is safe, clean, and is improving so they will probably take more of a vested interest in the community. Those are the type of people you want on your block because they are going to take care of their home and its going to end up helping every ones property values. If you like this area and are thinking about buying or selling over here give me a call.