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Troy, Michigan: A Premier City for Real Estate Investment

Updated on April 12, 2016
By Cadiomals at English Wikipedia, CC BY-SA 3.0
By Cadiomals at English Wikipedia, CC BY-SA 3.0 | Source

Introduction

Are you looking for the perfect city to reside and start a family, set up a business, study, jump-start your career, or to have a vacation? Well, look no further than the City of Troy in Michigan.

Brief Background

Troy is located in the northern suburbs of Metropolitan Detroit.

It is known to be the 11th most populated city in Michigan (the latest data from the U.S. Census shows almost 81,000 as of 2010) and the largest in land mass area in Oakland County (with the total land area of 33.64 square mile).

It is also said to be the premier address for economic development in terms of business, retail, commerce, and most of all, real estate.

Why Invest in Troy?

Troy ranks second in terms of the places with the highest aggregate property market value in Michigan. Here’s why.

A+ Education

One of the highly acclaimed recognitions of the city is its premium quality of education. It is home to the International Academy, which is the 7th best public secondary schools in the United States.

The test scores are 81%, 13 points higher than the national numbers. There is a high literacy rate where more than 90% of the population have completed 8th grade and high school. 57% are college degree holders.

This means that since employment rate is high, purchasing power is boosted as well, rendering properties to be valuable and saleable. With this fact, you can then expect that there is a high demand of apartments, condominiums, flats and dormitories for students.

You can surely accommodate those parents who are looking for rooms for rent around the school. Actually, many students in the academy come from other states in America just to experience the academic excellence that the school offers.

The International Academy.
The International Academy. | Source

Charming Neighborhood

There are so many picturesque homes with definitive landscapes, both modern and traditional concepts. There’s a blending of apartments, condominium units, and multi-family compounds great for both residential purposes and investment.

Most of the houses are currently being bargained and the property taxes are low. Some of the structures in the area date way back to the 18th century including houses made of logs and mud.

It is not much of a hassle to renovate or restore the buildings, given there are several expert siding and roofing contractors in Troy, Michigan.

Affordable Cost of Living

Although this index is 4 points higher than national (104 versus 100), it still ranks fourth within the US in terms of affordability. Who wouldn’t like to start a new life in a city where all the basic necessities are within your spending capacity?

You wouldn’t worry about where to live, what to eat or what to wear, as everything is affordable. The average price index is 169 compared to the highest in the country, which is 271. You will not feel this discrepancy if everything else surrounding you is high quality.

The Somerset Collection skywalk.
The Somerset Collection skywalk. | Source

Growing Business Opportunities

This is a place with a growing business opportunity and one of the most conducive places for business, especially for the automotive and financial sectors. Car companies’ profits are rising, and the once recession-affected office spaces are now filling up.

Due to its accessibility to I-75, I-696, and the M-59, business establishments are of easy reach to residents, visitors, and employees. One of the major centers of Bank of America is situated here, along with the Woodbridge Company headquarters.

The 13th Annual Woodward Dream Cruise.
The 13th Annual Woodward Dream Cruise. | Source

Rich Cultural Heritage

The place is rich in culture and is a magnet for tourists due to several festivities and practices innate to the area. There is an annual celebration called Opa! Fest where residents get to experience everything – food, music, dancing, shopping, traditions – Greek.

They also have the Family Daze Festival, which is a four-day long entertainment with food, zoos, rides, and competitions between fire departments. There also is an Indian Festival at the Bharatiya Temple, which offers learning sessions on yoga and dance, music and art, and a lot more. What a vibrant city, right?

Efficient Community Center

A highly effective Community Center is available to all constituents. Its facilities are award worthy, having in it an aquatic center, game rooms, studios, fitness centers with gyms, conference rooms and workshop areas for get-togethers.

Outside, there are playgrounds and other outdoor sports. The Center also manages the Historic Village, which shows how the city has progressed from its beginnings up to the present time.

Shopping Haven

This is a shopping haven not only for the shoppers but for retails businesses too! There is this international marketplace called Nino Salvaggio.

More than the goods that are for sale, it offers a unique experience for their clientele because of its green methodologies, yet creative product display practices, including fresh and organic market produce.

It also has two of its best malls – the Oakland and the Somerset. Oakland has around 120 stores plus a food court with a myriad of food choices and family events that will capture the excitement of the children.

Somerset is more upscale, with more than 180 world-class brands and is also known for the skywalk – a 700 feet tall walkway with a moving sidewalk.

The Somerset Mall Atrium.
The Somerset Mall Atrium. | Source

Variety of Sports

Come over to the Sanctuary Lake course if you are a golf-lover. It has two exceptional and complex courses that offers 190 acres of scenic views and swinging challenge. Summer will never be dull.

At the AirTime Trampoline and Game Park, you get to slam dunk by using the trampolines on the wall as your take off area! You can also play other ball sports in the park with your family.

Think about the games you used to play as a kid – dodge ball, catch, mini-football, and the like. During the winter, you can also go cross-country skiing and sledding. These amenities are well maintained so you’re sure to have fun even in the cold.

Awesome Entertainment

Aside from having a really blissful and jovial NYE at one of the Best New Year’s Eve Hotel parties, specifically at the MET (once recognized by the Detroit Free Press), you also get the more chill and relaxing type of entertainment at the Lloyd A. Stage Nature Center along the Rouge River.

It offers you access to around 100 acres of nature and wildlife in the forests. Both of these are good for tourists and local residents, for wild days and for unwinding from the daily grind, respectively.

Outstanding Prestige and Reputation

In terms of Safety, Troy garnered the first place award within Michigan and the Top 19 in the United States for the year 2011. Three years before that, it was the Top 22 among the Best Places to Live in the US.

The crime rate is 43% lower than it’s average with a decreasing pattern of 13 percent annually. Now, who would not want to live and invest in such a wonderful city? The more residents get enticed to live here, the higher the appreciation of properties will be.

Conclusion

When thinking of acquiring properties for investment, the quality of life is as equally as important (if not more important), than the appearance and cost of the abode, and Troy is one of the finest dwellings there is in a country.

When searching for a place to invest in real estate, what is the first quality you check?

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Comments

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    • Evane profile imageAUTHOR

      The Filipina Digital Entrepreneur 

      2 years ago

      Hi MsDora! Indeed. :) What is the most tempting part there for you though?

    • MsDora profile image

      Dora Weithers 

      2 years ago from The Caribbean

      Great presentation. Troy, by your description, is tempting!

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