The Best Cities for Your First Home - Tips for First Time Homebuyers

Here’s the list of the best cities for your first home.

Purchasing your very first home is a huge decision. It’s one that will not only set the course for your future, it’s also a huge achievement to be proud of. This is why buying your first home shouldn’t be impulsive.

Impulsive home buying may lead to regrets in the future. As a first-time homebuyer, you need to think of every aspect and plan carefully. The good news is, we are here to help you all the way.

Recently, Beth Braverman from CNN Money released a helpful article to help first-time home buyers. In the article, you can find the best cities to purchase your first home from.

Read below for some examples.

Orlando

Home values (median): $202,900

Annual forecasted appreciation: 3.8%

Why Orlando? According to Bruce Elliott, the president of the Orlando Regional Realtor Association, Orlando is not just the tourist town it’s known as. There are actually plenty of things to do in this city for new homeowners.

Tampa

Home values (median): $183,300

Annual forecasted appreciation: 3.2%

For those who love the warm weather, Tampa is the place to be. The houses in the area are also within a reasonable price.

Indianapolis

Home values (median): $137,300

Annual forecasted appreciation: 3%

While home prices in the state capital are hitting record highs, they’re still extremely low relative to the rest of the country, especially when compared to local rents, which have also been rising. Renters who become homeowners in Indianapolis will break even on the purchase in just a year and a half, the shortest period of time among the 35 largest cities analyzed by Zillow. The city boasts a stable economy thanks to government jobs as well as those in diverse industries like pharmaceuticals and insurance. – CNN

San Antonio

Home values (median): $158,500

Annual forecasted appreciation: 3%

If you are looking to find great career opportunities while basking in great weather conditions, San Antonio is the place to be. Sure, it doesn’t get as much attention as Austin or Houston, but San Antonio offers affordable housing. It’s the second biggest city in Texas.

The city benefits from the oil and energy industries. But there are also more options for other industries such as financial services and aerospace.

Pittsburgh

Home values (median): $135,700

Annual forecasted appreciation: 2.5%

Pittsburgh may have a history as a steel city, but its modern economy is much more diverse. There’s a growing tech industry, alongside opportunities in academia, oil and gas, and insurance.

Recent investment from both the public and private sector in Pittsburgh’s downtown has made it a more attractive place for young people. Forty restaurants have opened there since the beginning of 2016, catering to people checking out the downtown’s shopping, performing arts venues, and sporting arenas. – CNN Money

Detroit

Home values (median): $138,700

Annual forecasted appreciation: 3.2%

After getting hammered by the Great Recession, Detroit’s economy is finally mounting a comeback, but home prices there remain incredibly affordable. Unemployment just hit its lowest level in 16 years. “Detroit went down so far that it can’t go any further,” says Lawrence Yun, chief economist of the National Association of Realtors. “Prices there are really attractive. Unemployment is going down, and the auto industry is doing relatively well.”

Detroit’s become less reliant on cars, though. The city’s downtown has a growing technology district, thanks to the low prices and support from several high-profile start-up incubators, and there’s also growth in health care and financial services. – CNN Money

The Best Cities for Your First Home – Tips for First Time Homebuyers

Enter your keyword