Avoid These Costly Mistakes When Buying A Home In Fort Worth
By: John Garcia | Date Posted: July 26, 2022
Table of Contents
- Great Choice: Phoenix, Arizona
- Not So Great Choice: San Francisco, California
- Great Choice: Fort Worth, Texas
- Not So Great Choice: New York City, New York
- Great Choice: Fort Wayne, Indiana
- Not So Great Choice: San Diego, California
- Great Choice: Memphis, Tennessee
- Not So Great Choice: Honolulu, Hawaii
- Great Choice: Jackson, Mississippi
- Not So Good Choice: Washington, D.C.
The current real estate market has been plagued by so many things. Increased gas prices, high mortgage rates, and inflation have made homes in some cities unachievable. If you want to do some investing or you’re looking for a new home for yourself, have a look at this list to see some great cities (and not-so-great cities) to check out for new homes.
Keep in mind that the market changes rapidly, and these opinions are based on the current market and the predicted inflation we are experiencing. Towns with high real estate or cost of living might change in the coming years, and this is based on the current market prices.
Great Choice: Phoenix, Arizona
One of the best real estate markets right now is located in the gorgeous city of Phoenix. The market is great for buyers, with plenty of new homes available at much lower prices than in other metro cities in the country. Plus, the economy is booming, so you are sure to find a job that gives you a great salary.
Not So Great Choice: San Francisco, California
When it comes to good places to buy a home, the cost of living is one of the most important factors. The cost of living index will show you how much more you will need than average to live comfortably. The cost of living index for San Francisco is 269, which means it is 169% higher than the national average for everyday items, homes, and necessities. Unless you can afford to spend that much regularly, San Francisco is not the best choice to move to right now.
Great Choice: Fort Worth, Texas
One of the best places to think about making a move to is the beautiful city of Fort Worth, Texas. They have some fantastic planned communities like Las Ventanas with incredible homes for sale. Fort Worth has a great low home cost, and the location is excellent, so check out some of the homes in Fort Worth today.
Not So Great Choice: New York City, New York
New York is a cultural mecca that has tons of great things going for it. Unfortunately, it is one of the most expensive cities to live in, and the prices of New York City homes are much higher than in the rest of the country. The city has a cost of living rating that is 87% higher than the rest of the country, and its home prices are in the upper 700k range, so this might be a place you want to avoid if you need to save some money for the future.
Great Choice: Fort Wayne, Indiana
The major city of Fort Wayne is attractive due to its low cost of living and plenty of convenient services. This city in northern Indiana is home to a number of nice and peaceful areas, and it also has a strong arts scene with festivals and events happening all through the year.
The cheap cost of living in the metro area can largely be attributed to the area’s relatively inexpensive housing. When compared to the national average, locals save 36% on housing expenditures annually. These savings apply to both homeownership and rental rates.
Not So Great Choice: San Diego, California
Because of San Diego’s proximity to the military and the presence of defense contractors like Northrop Grumman and Science Applications International, the southernmost city in California is also one of the most expensive in the United States.
The average property price is $829,062. The median family income in this metropolis of around 1.4 million is $79,600, allowing its residents to afford high-priced restaurants, yacht clubs, and other leisure activities.
Great Choice: Memphis, Tennessee
The price of a house in this sleepy rural community is far lower than the average for all of the United States. The city has a rich history, a low cost of living; which is 24% lower than the rest of the country, and an average housing cost that is somewhere in the range of 150 dollars, which means that you have a wide variety of wonderful options available to you at excellent prices. The town is well-known for its exceptional music scene, in addition to having a sizable population.
Not So Great Choice: Honolulu, Hawaii
With the rising cost of travel, many people have started to visit this beautiful state less and less, which has resulted in a drop in their economy. Inflation has made things more expensive and has also driven up housing prices into the high 800k range, so it has become difficult for people, including investors, to buy homes in the uncertain market. With costs continuing to rise, the prices are unlikely to drop anytime soon, and investing in property in the state is a risky move right now.
Great Choice: Jackson, Mississippi
Jackson is a city that has put itself on the map in the last few decades with its amazing home prices and incredible growth. Homes in Jackson are currently in the 80k range; yes, I said 80k! That’s an excellent price for a city with such a large population, and now is a great time to snatch up a home in the beautiful city of Jackson.
Not So Good Choice: Washington, D.C.
Unless you are moving into the White House, living in Washington is not the best choice right now. The cost of living is 79% higher than the rest of the country, and the housing prices are in the lower 700k range. This is far too expensive for anyone who is looking to move into their first home, but there are plenty of high-paying jobs in the city, so if you can afford it, go for it!
There are plenty of places in the country that have great prices and low costs of living. Look at some of the great houses in these cities today to find a property that suits your and your family’s needs. These towns make an excellent choice when it comes to looking for a new home or looking for investment property.
Thank you for reading!
