Help decide between New Hope vs. Maple Grove *new construction*

[Aly Brand]

Hi,

I'm looking at buying a new construction property at around 400k in the greater Minneapolis area. There are currently two new construction single family properties that I'm interested in. One in New Hope and another one in Maple Grove. Both around the price range of 390k - 400k.

The property in New Hope is 2354 sqft but it's right next to a freight train track - about 50 yards from the track. It's in a relatively quiet neighborhood - not a lot of activities around that area.

The property in Maple Grove is about 1880 sqft and is next to Central Park (new construction SFs by David Weekly homes). It has some nice community amenities and close to parks and shops.

I like the New Hope property because is larger and has sizeable front and back yards. But I worry the freight train situation will be a big con. The Maple Grove property is a bit more expensive (will probably end up around 405k) and has a HOA fee. It's bit smaller in terms of square footage, but the community is very vibrant.

It would be great to know, from a resale value standpoint, which one would be a better choice?

Thanks!

[Matt Higgins]

Location x3, can’t move the railroad tracks so maple grove if that is your only 2 options.  What are your goals for the property?  What does the return look like @$2500 rent and 400k purchase in Maple Grove look like with an association fee?  If the property is for you that’s a question only you can answer, but I like maple grove long term better for resale.