This may seem like an odd idea, but I have have many clients drifiting in the $150,000-$225,000 price range. Many clients just set up their search criteria to include home built after 1990 which I can feel may be a big mistake. The part of this I do not understand is there are some quality Shakopee homes for sale that are older than 1990 and do have many updates. One complaint I here about the Shakopee area is that there are not enough trees. Well newer areas do not have those established neighborhoods with 20-40 year old maples, oaks and other large shade trees. There are a few pockets of Shakopee that are great for neighborhoods as described, but you will need to be open to looking at an older home.
We just received an offer on a listing we have on Hauer Trail in Shakopee. GREAT neighborhood. Quiet, mature trees and well established. I think it is one of the hidden gems in Shakopee. This particular owner went all out when updating his home. Maintenance free James Hardy siding with a 50 year warranty, brand new quality windows replaced throughout the home, new high efficeny furnace and air conditioning, new hot water heater, newer carpet, new garage door openers and the list goes on. When considering a purchase, most Shakopee homes for sale do not have anywhere close to these upgrades and many will be in dire need of those update within the first five years on ownership.
Now would you rather purchase an “older” home and have all those updates or shell out upward of $30,000 for all those upgrades OUT OF POCKET after you close. At least the bank will give you the money upfront now at a great interest rate!
For older Shakopee homes for sale that need some fixing up, consider a FHA 203k loan. With that loan you are able to borrow more than the sales price and in turn take that money to make the improvments. I recently hasd a client purchase a home in Jordan and he took out about $9000 to install a new furnace, new air conditionor and do some plumbing and electrical repairs. Another great option in which you do not need to pay money out of pocket and can rather have those costs in your mortgage payment.
If you are thinking of moving within the area or are an out of state buyer contact me and I can send out a relocation packet.