Just moved to Bloomington IN – Rent or Buy?

Rent or buy?

Whenever you move to a new city, one of the first things you need to do is figure out where you are going to live.  Should you rent or buy? Where should you rent and where should you buy.  I’m hoping in this article I can provide you with some solid advice if you are planning on moving to Bloomington in the near future and are not sure if you should buy or rent.

Bloomington is a college town, which means a significant portion of the rental housing supply is designed for college students.  If you are moving to Bloomington with your family, do you really want to live in a college apartment community?  Don’t fret too much though, there are a handful of great options for folks not wanting another round of the college experience.  More on that in a minute.

Realtors, new colleagues, friends & just about everyone in between will happily recommend where you should buy a house and which school district you should be in.  I’m not saying this does not matter, but I am pretty firm on the belief that that you should get to know Bloomington yourself before diving into a home purchase. No one knows you and your needs better than you do.  Get a feel for Bloomington and which neighborhoods are best for you before purchasing.

Here is my personal advice as a long time Bloomington resident, who has both rented & owned, and has been in property management for the last 10 years.  I recommend renting for 1 year. Give yourself a chance to get to know Bloomington a little bit before you start your search of a home.  A one year lease commitment is no big deal compared to buying a home you don’t love.

If you do choose to rent, where should you rent?

I’m going to make an assumption that you are looking for a neighborhood setting and something that is not geared towards undergraduate IU students.  If that is true, then my #1 recommendation is MeadowCreek Apartments, located on the south east side of Bloomington.  MeadowCreek features 1,2 & 3 bedroom apartments, town homes and a few single family homes.  Many of the apartment homes include an attached garage.  They also offer detached garages.  The neighborhood is quiet and open, with walking trails, natural ponds, a pool & clubhouse area, dog park & friendly neighbors.  You have easy access to great parks, shopping & IU.  It is in the desirable Binford/Rogers Elementary School District (Jackson Creek Middle School & Bloomington South High School). See what others are saying about MeadowCreek  Check the online reviews.

If you are not wanting to commit to a full year lease, but you also do not want to buy right away, you will have limited options.  Most rentals in Bloomington are set-up on a 12 month schedule.  There is an exception.  SummerHouse at Indiana offers 1 bedroom apartments, equipped & furnished like home and available for as long or as short as you need.  If you need 2 or more bedrooms, you might be out of luck, but if a one bedroom apartment will work for the short term, SummerHouse is a great option.  All utilities are included plus Internet & Cable as well, so it’s super convenient.

With that, I wish you good luck on your move, I hope you enjoy Bloomington and that it becomes “home” to you real soon.

If you have any other thoughts, please add your comments below.

 

 

Eric Dainton

About Eric Dainton

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