Moving in Memphis>Question Details

Cinthya, Renter in New Rochelle, NY

Relocating from nyc to memphis area....young family looking to settle down for 3-5 years. Any suggestions on where to live, rent vs buy...etc....

Asked by Cinthya, New Rochelle, NY Sat Nov 24, 2012

Would ideally prefer new-er construction, single family home or luxury condo, gated community, family friendly, a town with a quaint "downtown" with small nice shops and maybe even a starbucks!

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I would recommend renting a house on Mud Island (aka Harbor Town), a utopic neighborhood on the MIssissippi River right near all the amenities of downtown.
The neighborhood is quaint, safe and beautiful.
There is a Montessori School on the island and plenty of green space to run around.
Good luck.
0 votes Thank Flag Link Mon Jan 21, 2013
You have almost exactly described Collierville, a suburb of Memphis that has been carefully planned to be 70% residential, and retains its delightful old town square. http://www.collierville.com is the town's site if you want to check it out.

However...it really depends on what you're looking for in the way of culture, socioeconomics, and politics. Collierville is a bedroom community in a lot of ways, predominantly Republican, conservative, and over 90% white. Outside the lovely town square, it has one theatre and the usual strip mall type shopping. Diversity, not so much.

I lived in Collierville with my children until they finished school; when I moved us to Midtown, we felt like we'd found home. Had I had the option to have them in one of the optional schools or a private school, I'd have moved to the Midtown area long ago. Memphis high schools aren't so great, but there are many fine elementary schools in the Midtown and East Memphis area. For the best of community living, Midtown is your ticket. Check out Cooperyoung.org (NOT .com), which is a community association built around the intersections of Cooper and Young, a progressive, eclectic, diverse, and thriving community. You'll find adorable 20's and 30's bungalows, neighborhood streets where even the dogs know each other, tons of small businesses, and just up the street, a thriving theatre community. It's also 10-15 minutes from downtown, which is enjoying its own commercial, musical, and culinary revival. Both downtown and Midtown enjoy a wide variety of dining options, including vegetarian and vegan, and a focus on locally grown meats and produce at many places.

C'mon down. We'll grab some barbecue at the Bar-B-Que Shop or some sushi at Sekisui Midtown, then go enjoy an open-air concert at the Leavitt Shell in Overton Park. Don't forget the lawn chairs and the mosquito spray!

(yeah...I love it here...)
0 votes Thank Flag Link Mon Dec 17, 2012
If you are used to a more urban lifestyle, you might like Midtown Memphis, which the city's "garden district" with homes ranging up to 100 years old, plenty of parks, local restaurants, shops, theater and other activities. 10 minutes from Downtown Memphis.
If you are interested, I would be glad to send neighborhood reports.
Joe Spake
joe@spake.com
0 votes Thank Flag Link Sun Nov 25, 2012
Hi Cinthya,

Interesting question. If you're coming in and know you'll be here only three years, rent, don't buy. The overall U.S. economic outlook is pretty weak, and if you're coming in for a relatively short period you may still actually lose money when it's time to sell, unless you're coming in right now, and pick up a distressed type of property at a really low price. Even at 5 years, the amount you'll pay down and the amount you'll have paid down on the note may not be totally recoverable.

Quaint may be a bit hard to find, but that's up to definition. If you would like more information on the Memphis area, the current housing market, or if I can help in some other manner, feel free to contact me.
0 votes Thank Flag Link Sun Nov 25, 2012
Dear relocation friends, Germantown is a very nice place to live. It's next to Memphis. It has a lower property tax than Memphis does. It has very good schools from ELM to High. It has great library, sport center & perfoormance center that meet your needs. People love this city with great police officers, firefighters and learning centers for kids' music, dancing, sports, English & Math. Great community!!!

Germantown has very good home sales if you invest your money into the best school district. Renting will lose money, buying is better because of nice Germantown property value and many other reasons, like tax benifits, privacy, enjoying life with more space with more freedom, happiness and family love. You will gain money & happiness when you leave if you get a good deal home in a nice area in today's housing market.

Another city is Bartlett that has a lower city tax as well. It's a very nice city next to Memphis. You will get bigger home in Bartlett if spending the same money comparing with Germantown.

Smart home buyer should buy now. There has never been a better time!!!
Email me with Questions anytime for you and your friends.
Please give Jing A Ring for All your real estate needs.

Welcome to Memphis!
Look forward to seeing you one day!
Best Wishes for a wonderful & beautiful holiday season to your family!

JING CHEN ROACHELL
CRYE-LEIKE REALTORS
(#1 in Mid-South, the biggest in Memphis)

6525 QUAIL HOLLOW
MEMPHIS, TN 38120

901-756-8900-EXT-7245
901-758-5641 FAX
901-674-9036 CELL
jing.roachell@crye-leike.com
0 votes Thank Flag Link Sat Nov 24, 2012
" It has very good schools from ELM to High." I assume that means you didn't gradate from this area then.
"Germantown has very good home sales if you invest your money into the best school district." What does this mean, because I think you're trying to indirectly say that the school district needs funding. Then again maybe you're trying to say there are deals in the good school districts. I just don't know.

"Renting will lose money, buying is better because of nice Germantown property value and many other reasons, like tax benifits, privacy, enjoying life with more space with more freedom," Put a period after "Renting will loose money and add "you." As in "Renting will lose you money." Period. There's an even better way to say this but lets start slowly. .

"Buying is better because of Germantown property value. " You need "the" before Germantown, but read that sentence again.

Anyway, to answer the question. Come to Memphis, home of the under-educated.
Flag Sun Dec 9, 2012
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