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Best Places For Buying A Home
With the economy slowly recovering, there seems to be a light at the end of the tunnel of this current recession. Housing prices and interest rates are extremely low, making today a great time to consider buying a home. If you happen to be looking in the right areas, you could actually benefit from appreciating home values. Here are four metro areas expected to see home prices continue to rise over the next few years in their respective regions.
West Coast – San Francisco
The west coast is a beautiful place to live, and San Francisco is no exception. A booming city for young professionals, San Francisco provides a vibrant and culturally rich environment in which creativity thrives. Home prices are expected to increase by 13.7% for the City by the Bay. While prices remain on the higher end of the spectrum with the median home price landing at $650,000, housing is definitely in demand and continues to appreciate.
East Coast – Philadelphia
Looking to settle down on the east coast? A college town with a lively atmosphere, Philadelphia brings a certain charm with its rich history and proud culture. Home prices are projected to appreciate by 5.9% in the City of Brotherly Love. The cost of living is also very enticing, with the median sales price for a home landing around $123,000.
Midwest – Toledo
If youre looking to buy a home in the Midwest, Toledos home prices are expected to increase by 5.7% over the next two years. A low cost of living may also attract home-buyers to the city, as the median home value is $96,000.
South – Charleston
If the South is more your style, theres good news. Home prices in Charleston are expected to rise by 7.8% over the next two years. Housing is affordable also, with the median home price averaging at $223,000. Charleston is a great place to live, being recognized as the best mannered city in the U.S. Southern charm mixed with substantial housing growth makes Charleston a city to invest in.
Where ever youre planning on buying a home, getting the right home loan to fit your financial situation will save you money. Whether youre a first-time home buyer, a real estate investor, or buying a vacation home, Quicken Loans will help you find a home loan to fit your needs. To find out more about locking-in the lowest possible interest rate on your home loan, check out Quicken Loans Home-Buying today!
Jordan Fylonenko is a writer who specializes in FHA Loans, Mortgage Refinance, VA Loans, and other home-buying related information.
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