Investments in the real estate market will continue to foster. This despite rather bleak predictions from industry experts. Writing for Forbes, Samantha Sharf points out several challenges that would affect the future of real estate. With “a record low inventory” and, hence, higher home prices, the market seems to have little room for optimism.
What is certain though is that demands from the millennial crowd will drive efforts to overcome these obstacles. People below thirty are deciding on settling down, and most of them will need to find homes that would suit their lifestyles.
Indeed, the choice of a home is critical to a young adult who had just gotten an entry-level position at some company. There is the imperative to pick a community that’s healthy and, at the same time, affordable enough for a starting salary.
A majority of first-time buyers today is comprised of millennials. It becomes a challenge then to hunt for houses that satisfy everything in their checklists.
With that, it’s best to start hunting in the following places in the United States.
If you opt to settle somewhere quiet, then Vermont is the place for you. With highly progressive social policies and a low unemployment rate, the state is a haven for young adults who want to raise their families in a liberal environment. Also, the median home prices offer relief from that of New York and Boston.
The west coast is also a good choice for millennials as well as startup entrepreneurs. For one, finding land in California shouldn’t take you forever since there’s always available properties for the taking. But looking beyond Los Angeles and San Diego where rents are way above the means of the average joe, you have better chances of finding the best real estate deals in the north. For a start, try searching for homes in Oakland.
If you want to start your search southward, you can always set your eyes on homes in the great state of Mississippi. With lush environments coupled with a dash of that world-famous southern charm, Mississippi is a good place to start a family or to pursue whatever career comes to mind. And considering the fact that you can find affordable homes here makes this state an ideal place to invest, with an average home price of less than $200,000 according to CNBC.
Going north this time, the state of Michigan is also an ideal candidate for a state to live in. Straying from central Detroit, you can also check out properties around the metropolis. Despite being one of the hardest hit states during the Financial Crisis of 2008, Michigan is slowly regaining its lost prestige, with developments in the tech sector as well as having a robust healthcare system. There is certainly no other time to find a home in Michigan than now.
There you have it. These are the best places that every millennial should consider settling in. But there is still a need for a young adult to strike up the best deals with realtors. It can be too much of a challenge, but it makes for a great way to learn about the dynamics of the real estate market.