The housing industry is really improving in Indiana, so it's a great place to purchase a home. Housing prices are inching up, inventories are dropping, and interest rates are at all-time lows. I can't think of a better time to buy. It's still a 'buyer's market,' but might not be for much longer.
Our housing market in Indiana didn't get hit as hard as some of the sunbelt states and the east and west coasts, so the improvement is a pleasant surprise after business-as-usual. Where you should buy is (I'm sure) a question for debate, but as a realtor who works in many areas around the Indianapolis metro area, Hamilton County and Boone County seem to me to be two of the best areas that you might want to consider buying a home. The homes in these areas are maintaining their value and are in sought-after school districts. Carmel, Fishers and Noblesville are regularly on the 'best quality of life' lists of popular magazines, so you even get free advertising!
My opinion regarding the price range of the home you buy would be to stay in the $125K-$225K range. These are generally the homes that include the greatest number of possible buyers. However, there are many factors working here in your choice of homes because location is always one of the most important considerations, but how well you improve or maintain the property, how many bedrooms and bathrooms it might have, and also the amenities your home would offer to a buyer would also be important. Usually a home with 3 bedrooms and 2 bathrooms and attached 2 or 3 car garage would be I highly sought-after home in this market.
What you want to think about is buying a home in a desirable area that the greatest number of buyers might be interested in, then try to negotiate a good price for the home when you buy it, and either make sure it has some nice improvements added to it already, or add some nice touches to the home yourself as you live in it. Nothing sells as well as a well-priced home with popular updates in a desirable school district and location.
Let me know if I can help you any further in your real estate needs. I'm familiar with all areas of the Indianapolis metro area and have been a life-long resident, most recently living in Hamilton County and working a great deal in Boone County, Hendricks County, Montgomery County, Madison County and east, north and westside Marion County (Indianapolis).
Julie A. Barnett
Prudential Indiana Realty Group
(317) 847-0055 (cell)