Cost of living is defined as the amount of money needed to sustain a certain level of living including basic expenses such as food, housing, taxes, transportation, healthcare, and more. Cities with a high cost of living are usually more difficult to maintain a standard of living and require more income than the U.S. average to enjoy basic necessities. For instance, in a place like Manhattan, a gallon of milk costs about $2.39, whereas in Indianapolis, the cost of a gallon of milk is $1.50. It’s evident based on this data that Manhattan has the higher cost of living.
The cost of milk isn’t the only expense worth exploring, below, we’ve compared the cities with [...]
Comps. They’re the one thing that can cause a seller some tense moments as they work with their real estate agent to come up with a price for their home. ‘Comps’ is actually the shortened version of comparisons. Basically, they’re the prices of homes sold in your area in the past 3-6 months. While the concept of a comp is pretty easy to understand, that doesn’t mean that comps are without nuances.
There are several things you need to keep in mind as you use comps to set the price for your home or, in the case of a buyer, use comps to determine whether a home’s price is fair.Comps, CMAs, and Why They’re Important
A CMA is a [...]
A lot of factors affect the homebuying decision. No matter where you choose to move, you want to be comfortable, right? Determining an area’s housing affordability is important information to arm yourself with during the beginning stages of your home buying search. The expenses incurred after the purchase of your home don’t end when you move in, you’ll be responsible for utilities, taxes, and the upkeep of your home. Are your pockets crinkling at the thought of all the expenses? Don’t worry, according to U.S. News and World Report, these are the cities with the best housing affordability. If you’re in the market for a new home, finding one in any of [...]