Investing in real estate is a great way to generate passive income and transfer wealth from one generation to another.
3 Reasons Why You Should Invest In Michigan Real Estate
Buying land or a house is a safe and savvy way to invest. There are hardly any issues of theft, market crumbles, or mismanagement of funds associated with many other investment options. While buying land or a house might seem easy, it is important you buy it in a good location. Michigan is a beautiful state with family-friendly cities and affordable real estate options.
Where in Michigan
Michigan has several top-ranked schools, beautiful lakes and landscapes, excellent restaurants, and family-friendly cities, making it a perfect location to buy land or a house. The price of land and houses in this state are among the cheapest in the country, making it an excellent investment.
History of Michigan
History of Michigan
Michigan history can be traced back to the 17th century, when Native American tribes settled in the area for thousands of years. The influx of French explorers led to the city being claimed as part of the New French Colony. The defeat of the French during the Indian and French War in 1762 led to the area being taken over by Britain. Britain relinquished the area to the United States after their defeat in the American Revolutionary War. Michigan became a part of the Indiana Territory in 1800. The Michigan Territory was formed in 1805, but the border dispute with Canada wasn't resolved until after the War of 1812.
Michigan was admitted into the Union as the 26th state in 1837. The state enjoyed tremendous growth to become an important center of trade in the Great Lakes region. It was also a popular destination for immigrants from Finland, Macedonia, and the Netherlands in the late 19th and early 20th centuries. The economic growth led to the state becoming the center of the U.S. automotive industry. It is home to the headquarters of three major automobile companies (General Motors, Ford, and Stellantis North America).
Michigan is a state in the Great Lakes region of the upper Midwestern United States. Its name was coined from an Ojibwe word meaning large water or large lake. Its population of 10.1 million makes it the tenth most populous state, while its total area of nearly 97,000 square miles makes it the eleventh largest by area. The state’s capital is Lansing, and its largest city is Detroit. Michigan is the only state made up of two Peninsulas (the Upper and Lower Peninsula).
Michigan has the largest Finnish, Macedonian, and Dutch populations in the United States. The racial makeup of the state population is 78.41% Whites, 13.79% Black or African American, 3.13% Asian, and 2.92% of other races.
Detroit is the largest U.S. city on the United States-Canada border and also the county seat of Wayne County. Its population of 639,111 makes it the 27th most populous state in the United States. Detroit is known for its love and contribution to music. Check out the locations the country's top artists like Drake, Justin Bieber, Taylor Swift, Adele visit on tour, and you will find one constant name, Detroit. The people of Detroit love music, and they are ready to pay top dollar to watch the most prominent artists perform. From the small venues like the Majestic and Saint Andrew's Hall to the big ones like Joe Louis and Ford Field, live music performances occur virtually every day in Detroit. Prominent music festivals in the city include the Detroit Electronic Music Festival, Detroit International Jazz Festival, and the Hip-Hop Summer Jazz Festival.
While the love for music in Detroit is undeniable, education is also taken seriously in the city. The city is home to several higher institutions, secondary and primary schools. You can begin your journey towards a career in law at Wayne University or path toward medical professions at the University of Detroit Mercy. Other higher institutions in the city include the Grand Valley State University, Sacred Heart Major Seminary, Wayne County Community College, and Marygrove College.
If you are passionate about sports, you should buy a house in Detroit. Detroit is the perfect home for sports lovers with professional basketball, baseball, and ice hockey teams in the city. While the Detroit Pistons have been admittedly poor of late, wallowing close to the bottom of the Eastern Conference league in recent seasons, their undeterred fans still troop out in numbers to the Little Caesars Arena to show support on matchdays. The Red Wings, who have won 11 Stanley Cups and compete in the National Hockey League, also enjoy tremendous support, and so does the baseball team Detroit Tigers.
Grand Rapids is the county seat of Kent County, and it is the second-most populous city in Michigan, with a population of 194,917. Grand Rapids is Nicknamed the furniture city due to two of its top employers being furniture manufacturers Steelcase and Herman Miller. While those are two of its major employers, there is more to the city's job market than furniture making. The Healthcare company Spectrum Health which is ranked as the largest employer in Western Michigan is headquartered in Grand Rapids. Product maker Amway and grocery chain giants Meijer also have their headquarters in this beautiful city.
Always wanted to live in an eco-friendly environment? Grand Rapids is the perfect place to buy land or a house. Widely known as one of America's greenest cities, you are ensured of a healthy living environment in Grand Rapids. The public transportation system in the city known as "The Rapid" uses hybrid electric buses, while the Rapid Central Station features a green roof. This is part of the Grand Rapids master plan to eliminate net carbon emissions by 2050. Work done over the years has seen the city become home to the world's first LEED-certified art museum, school, church, microbrewery, and transit station. The city has also received awards for innovative recycling programs that have tremendously reduced waste and increased recycling efforts.
If you want to live in a budget-friendly city in Michigan, Lansing is the place to buy land or a house. Also known as L-Town, Lansing is the sixth-largest city in Michigan, and it has a population of 112,644. The cost of living in Lansing is 17% lower than the national average. The cost of housing is also 47% lower than the national average. Buying land or a house in the county is relatively cheaper than in neighboring cities, and with the city being the state's capital, development is sure to occur constantly.
The dining scene in all other parts of the state has nothing on Lansing. There are several lovely restaurants all around the city. Take a trip to Soup Spoon Cafe on Michigan Ave for comforting house-made soups or margaritas with steak fajitas at the Mexican restaurant El Azteco on Ann Street, East Lansing. Wherever you go in this city, you will find good food that works for you.
Lansing is home to several higher institutions, including Michigan State University, founded in 1855. The university offers over 200 programs of study and is ranked in the top 8% of the best four-year universities in the United States. Other higher institutions in the city include the MSU College of Education, Lansing Community College, and Thomas M. Cooley Law School.
Education in Michigan
Education in Michigan
The state is home to some of the nation's top higher institutions. There are 104 higher institutions in the state, of which 46 are public institutions. The oldest higher institution in the state is the University of Michigan. The university consists of 19 colleges and offers degree programs for undergraduate, graduate, and postgraduate levels in about 250 disciplines. Other higher institutions in the state include Baker College, Andrews University, Michigan Technical University, Central Michigan University, and many more. At the lower level, Michigan's Education System caters to 1.6 million K-12 students in public schools, while 124,000 attend private schools.
If you love being around water, there's no better place than Michigan. With over 11,000 inland lakes across the state, Michigan is the Mecca of freshwater. Relaxation options such as swimming, canoeing, kayaking, and other water sports are trendy in this part of the country. Hikers in the city enjoy the 1300 miles of designated trails while cyclists take to the miles of bike paths across the state. If you love nature, the landscape at the Pictured Rocks National Lakeshore and the Sleeping Bear Dunes in Maple city are breathtaking. Whichever outdoor lifestyle you prefer, Michigan has something that works for everyone.
Michigan Climate Risk
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