For Recent College Graduates: The Top 5 Markets to Buy a Home
Are you a recent college graduate who wants to buy your first home? Then, you’re in the right place. There's a lot to consider before you commit to a starter home, and one of the biggest factors is location.
You want to choose a place that suits your lifestyle, where you'll be happy in the years to come. And, you need to make sure the market is thriving, so you make a good investment.
Luckily, we've got the top 5 markets for recent college grads to buy a home.
1. Denver, Colorado
This popular Colorado city is one of the most desirable places to live, especially if you're fresh out of college. It's a major city with ever-increasing home prices. That might sound like a bad thing right now, but it's actually pretty good for your return on investment.
Here are some of the most popular neighborhoods for young people who like excitement:
· River North (aka RiNo)
· The Highlands
· Capitol Hill
These Denver neighborhoods are packed with street art, bars, restaurants, and nightlife—so don't expect to feel bored here. If you want something more low-key, you might like calmer neighborhoods, like:
· Harvey Park
· Platt Park
2. Portland, Oregon
Portland offers recent grads a great quality of life in a fantastic city with good schools, gorgeous parks, and record low-interest rates.
There are plenty of tax benefits and incentives to buy a home in Portland, so if you think this city suits you, go for it. You'll save money by choosing to buy instead of rent in Portland, and now is a great time to buy.
In the last two years, home prices in Portland increased almost 20%—which means it's a good investment.
3. Vancouver, Washington
Not far from Portland, you'll find Vancouver, Washington, another major city with rising home prices that are expected to keep climbing. Pair that with decreasing mortgage rates, and you've got yourself a great place to buy your first home.
Vancouver is a gorgeous city with stunning mountain views, quaint farmer's markets, and a calm way of life.
4. Houston, Texas
Houston is another great city for recent college grads to buy homes. If you move to Texas, the first decision you need to make is "in" or "out."
"Inside the loop," you'll find social and cultural amenities at the heart of the city. You'll benefit from the urban lifestyle with short commutes, but it is more expensive. "Outside the loop," you can have a suburban family life with more value and more space.
Texas is one of the few states with no income tax, but property taxes are higher to compensate. Another bonus about buying a home in Texas is that there are virtually no zoning laws, so you can do whatever you want with your property without permits.
5. Raleigh, North Carolina
Finally, last but not least, is Raleigh, a welcoming Southern community with college town vibes and everything you could possibly want: plenty of green space, restaurants, affordable living, and nightlife.
Raleigh is still a city, but it's not an outrageously large city like New York or Los Angeles. This medium-sized city boasts low mortgage rates, great property values, and promising economic conditions.
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