Magnolia, Kent County, First Time Buyers

Magnolia: One of the best places to live in Delaware in 2013.

At today’s interest rates, a buyer who earns $45,000 to $50,000 can afford a home in the $195,000 to $210,000 range, Henderson estimates. At that price point, Magnolia is a great place to be. First-time buyers can find great values, especially on foreclosed properties and short sales. Pinehurst offers prices on the low end of the area’s spectrum—a plus for smart buyers. Homes in Chestnut Ridge start in the low-$200s. Count Quail Landing and Riverside among other desirable neighborhoods. Commercial development that stalled after the market crash is slowly picking up, which means convenient pharmacies, cleaners and grocers are trickling in, which drives home values up. All the same reasons that make the area attractive to families apply to first-time buyers. See also Bicentennial Village/Fox Hall in West Dover for decent prices on homes close to major employers

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