Poll: Where would you rather rent?

[cmubryan]

Where would you rather rent??

Assuming same rent $:

700ish square foot studio loft in The Carlton in Brush Park-2nd floor with walk-out balcony. Amenities include: in-unit stackable washer/dryer, separate walk-in shower and Jacuzzi tub. View of inner courtyard, parking in secured lot.

650ish square foot one bedroom condo in The Park Shelton-8th floor in Midtown across from the DIA. Amenities include: walk-in closet with custom closet system, all in one washer/dryer combo unit in kitchen, Park Shelton's amenities of rooftop balcony, fitness center and connected stores. Eastern views of CCS and beyond. Parking in attached garage.

[Meddle]

I don't rent. And I don't live in stacked shoeboxes.

I buy detached homes with yards.


Not one of your posted options, but ....

[Zacha341]

Kinda smallish both, but I go with Park Shelton but must it be on the eighth floor! ----

[iheartthed]

Brush Park

[Bigb23]

I'm in a HUD supported Apt. for Seniors right now. Except for the oppressive military style management, the rent is right.

[Jason]

I don't like jacuzzis so based on the amenities listed I'd prefer the Park Shelton.

Otherwise it would depend on how good the floor plans are and how good the finishes are.

There's going to be a lot of construction in Brush Park over the next few years which would be exciting but also noisy, but you'd be on the North side of The Carlton so idk how much noise you'd actually hear.

[ASilvaman]

The Carlton Brush Park would be my personal choice

[SammyS]

Brush Park is going to be amazing over the next few years so consider buying one of those units. It's very likely that:

1. if you're approved for rental, then you're approved for a mortgage [[credit score/report)
2. if you can afford the rent [[likely between $1,300 and $1,700/month), then you can afford the mortgage
3. rents will go up ~10%/year whereas the property value will appreciate 15-30%/year.
4. more accurate appraisals these days rather than the lazy "purchase price - 5%" of the past
5. more lenders taking a risk on Brush Park so you shouldn't have a problem

[cmubryan]

Thanks, I am actually considering purchasing a unit to rent out.

[Pam]

Being able to walk to the museums would be cool so I'd say Park Shelton.

[48202]

Thanks, I am actually considering purchasing a unit to rent out.

For either, make sure the Condo association will let you have tenants.

[night-timer]

Brush Park, considering that the area will rise in value with the new developments that will spring up in that area.

Also, it's closer to Downtown.

[[Not that DIA/WSU would be any more than a mile further out, which is still manageable along Woodward.)

[SammyS]

For either, make sure the Condo association will let you have tenants.

Good point. Some quotas are max of 30% rentals.

[Meddle]

For either, make sure the Condo association will let you have tenants.

Another reason not to be in any of those places. No Gestapo to tell you what to do with your own property in most neighborhoods [[outside of Corktown).

[Honky Tonk]

Another reason not to be in any of those places. No Gestapo to tell you what to do with your own property in most neighborhoods [[outside of Corktown).

Right as rain, there Meddle, not like those pesky Neighborhood Associaltions out in the 'burbs.

[stinkytofu]

Thanks, I am actually considering purchasing a unit to rent out.

Definitely check out the NEZ tax abatement status [[I know Park Shelton has units with such, not sure about Carlton).

I was in a similar situation a couple years ago, but found out when the abatement ended [[many were 15 year abatements that are ending soon) taxes would go from from like $1,500 to about $7,000 as I'd also have it non-homesteaded if I wanted to rent out. Broke down the finances and - long-term probably would make money on rent if they kept going up - but short term wasn't going to.

Story from a couple years ago summing it up.

https://www.mlive.com/news/index.ssf...r_the_tax.html

Also, look at HOA fees. I know Park Shelton was $350+. Would assume Carlton is high as well [[lots of HOA's in Detroit are very high). That's an additional expense either you take on or have to include in rent.

[SammyS]

Another reason not to be in any of those places. No Gestapo to tell you what to do with your own property in most neighborhoods [[outside of Corktown).

As inconvenient as it sounds, it’s actually in place to protect the owners. You buy in under this restriction. Also, rentable properties typically sell for more.

[Cincinnati_Kid]

Brush Park is going to be amazing over the next few years so consider buying one of those units. It's very likely that:

1. if you're approved for rental, then you're approved for a mortgage [[credit score/report)
2. if you can afford the rent [[likely between $1,300 and $1,700/month), then you can afford the mortgage
3. rents will go up ~10%/year whereas the property value will appreciate 15-30%/year.
4. more accurate appraisals these days rather than the lazy "purchase price - 5%" of the past
5. more lenders taking a risk on Brush Park so you shouldn't have a problem

1. if you can afford the rent [[likely between $1,300 and $1,700/month), then you can afford the mortgage

Not necessarily the case. Sometimes you can afford the mortgage, but not combined with the property tax. Taxes are the main reason people lose their homes.

[jackie5275]

I'd choose the Park Shelton. It seems they have more amenities. Personally, I don't like studio apartments either, so the 1 bedroom wins me over.

[Meddle]

Right as rain, there Meddle, not like those pesky Neighborhood Associaltions out in the 'burbs.

No way I'd live under that kind of tyranny either. I'm surprised there aren't more of these:

https://www.abc15.com/news/crime/old...eeting-in-2000

https://www.wlky.com/article/man-acc...bond-3/3741490

https://www.libertycm.com/shoots-fir...board-members/



These little dictatorships need to be abolished nationwide. And that includes 'condo associations' and 'tenant committees' who decide who might be allowed to purchase or rent.

[Honky Tonk]

No way I'd live under that kind of tyranny either. I'm surprised there aren't more of these:

https://www.abc15.com/news/crime/old...eeting-in-2000

https://www.wlky.com/article/man-acc...bond-3/3741490

https://www.libertycm.com/shoots-fir...board-members/



These little dictatorships need to be abolished nationwide. And that includes 'condo associations' and 'tenant committees' who decide who might be allowed to purchase or rent.

White people, you just can't trust them. I would not live in a neighborhood, co-op, or condo, without some explicitly enforced rules and regulations. You might be able to govern yourself, and have a good idea of what's right and wrong, but the next guy might not. I don't want someone's dog barking @ all hours of the night because he thinks it's cute the dog's barking @ cats. Or, it's "ok" to use your assigned parking for his buddy for "only a minute", or doesn't see an issue with leaving his tractor/trailer parked for a few days in front of your living room window. Or decides everyone in the building would enjoy hearing Rob Tyner's orginal rendition of "Kick Out The Jams" @ 3 a.m.

[Meddle]

I would not live in a neighborhood, co-op, or condo, without some explicitly enforced rules and regulations. You might be able to govern yourself, and have a good idea of what's right and wrong, but the next guy might not.

That's what Village, Township, City and County ordinances, Police and Sheriff's Departments are for, not a bunch of of biddies with over active busybody genes and Napoleonic complexes.

[Honky Tonk]

That's what Village, Township, City and County ordinances, Police and Sheriff's Departments are for, not a bunch of of biddies with over active busybody genes and Napoleonic complexes.

None of those departments are going to respond to the types of annoying, self-centered stuff I'm talking about. In fact, they won't even respond to worse. In most cases you or a loved one are going to have to be either dead or seriously injured, [[and even then you'd better have film) before something will get done, like maybe a warning. Do a y'all tube search on "bad neighbors". You sound like you've had a run in with The Bored before. C'mon, fess up, what did you do? Leave your snow shovel out all Summer???

[stasu1213]

I would rather rent in the Woodbridge area or Lafayette Park. I love the older apartment buildings on Commonwealth street but Lafayette Park has a better location with all of the bus lines. My third choice would be West Village. West Village has great potentials and should be cluttered with delis, fruit markets, anything that make the area a more walkable community. I hope that Sister Pie is able to purchase the building that they are in. They wanted to expand into the next storefront that once was a beauty shop but the powers that be allowed the bike shop to be in that spot. I would rent anywhere in the city that is near a great bus line and near a good grocery store and cleaners

[mwilbert]

Either one could be fine, but if I were renting for myself to live in, I think I'd favor the Park Shelton because I like to hang out at the DIA and go to the Hilberry and I like the idea of being right on Woodward, and I don't really want to deal with stadium nonsense. But I'm sure a lot of younger folks would prefer being closer to downtown.