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Buying Your First Home? Stay Away from These States!
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- Опубліковано 25 лип 2024
- Are you a first-time homebuyer looking to make one of the most significant investments of your life? Well, before you take that giant leap into the world of real estate, you'll want to know which states might make your journey a bit rockier. In this week's video, I'm diving deep into the housing market to unveil the "10 Worst States for First-Time Home Buyers."
If you find this video informative, be sure to hit the like button, subscribe to my channel, and turn on the notification bell, so you never miss out on the latest real estate insights. Share your thoughts and experiences in the comments section below, and let us know which state you'd like us to cover next!
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I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
this is all new to me, where do I find a fiduciary, can you recommend any?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
LOL! I live in CA. There is nothing for less than a million! I live in Yorba Linda in an apartment my rent for a 1 bedroom 780 square feet built in 1986 $2500 a month. The homes around the corner at the bottom of the hill start at $1.5M! And during the fires we all gathered in the parking lot watching the homes at the top of the hill (extremely expensive) burn down. Do NOT move to CA! I’m trying to get the hell out of here!
Yeah, it seems that most of the "Affordable Homes" videos conveniently leave out California! LoL. I know of a woman in the Bay Area whose neighbor fixed up their home to sell, got close to 2million for it, and within the next year the value had increased over 1+ million. According to her. Insane prices, insane increases.
Renting vs Buying in California is a big issue. I completely believe your story re: 1 bedroom for ridiculous cost. Hang in there.
@lisaaustin4561 --- Hello. I know exactly where Yorba Linda is. 😊 I used to go Pheasant hunting with a man that lived there, and he & the wife raised English Springer Spaniels. Hunted out near the dam near the 91 fwy and highway 71. After decades in overpriced, wildfire prone, drought prone, earthquake prone, crime-friendly, anti 2nd Amendment, hot, smoggy Freakifornia, I finally escaped in 2007. There are lots of choices, but try not to bring any bad Freakifornia ways with you, if you have those. There are bumper stickers on cars in Idaho and South Dakota telling new arrivals to NOT try and California-ize their states.
Texas,CA and Florida are the last places id move, the politics and taxes must be outrageous.
@@Imbatmn57 All three are hot places. One is prone to smog and earthquakes and horrible communist politics / anti 2nd Amendment, anti 1st Amendment, lots of perverts and God-haters, and a wide-open southern border.
The other two (currently) have good Governors, but are prone to tornadoes, heat, hurricanes. Texas has droughts, rattlesnakes and others. Houston area and Austin are sewage fests that would fit well into Freakifornia. Wild hogs destroying ranch & farmland, and wide-ranging temps ---- 30 degrees F one day, to 80F the next day.
Florida has sinkholes, swamps, alligators, humidity, heat, crime from Haitians & Cubans, and hurricanes, and far too lefty retirees / transplants from New York/New Jersey/Connecticut. They ruin everything, wherever they go.
@@lisaaustin4561 Tucson might be for you, a starter home could be had for that monthly amount, probably 1500 square feet. However there is one catch, the pay is much less and there are many south San Bernardino like neighborhoods there. If you put more down, then you probably could get a nice starter dig in Marana for around 325 K, which is more Yorba Linda like.
Oh yeah, expect the salaries to be substantially lower, but at least they are not 800 k less than the house.
San Diego is 6.5 hours by car and central LA is 8 sans any traffic along the 10, once you get west of Riverside.
NV and WA pluses = no income tax, low property taxes and senior low income prop tax exemptions. Also no storms with names.
Can’t wait moving to Summerlin NV from FLA ugh it’s awful here. House finally sold. 🎉🎉
Hi Jackie. I'm really enjoying your channel. The reason, as you may have ascertained by now, that Maryland home prices are high is simply due to its proximity to DC and the high cost of real estate prices associated to that area. Baltimore also offers many six figure jobs related to government and military. This entire area having lived here from Northern Virginia all the way up to Baltimore for 26 years is quite pricey as a result of some of the highest paying jobs in the nation. So, that is why home prices are high here. As far as Maryland itself, although Baltimore has many gritty areas where a bargain can be had, is, indeed, absolutely gorgeous. Crowded as hell, but a very beautiful place with great schools and higher level education opportunities and, yes, those high paying government and military related jobs. Many, many great high paying opportunities that afford these high prices. And, let's face it, like Jersey, it has become part of the Northeast Megalopolis, a higher than average place to purchase property. As a result, I have returned to my home town area in Chicago suburban land where cost of living is not only a bit lower overall, but offers plethora of six-figure jobs and, just this morning, suburbs that once again have ranked in the the top 20 places to live in the entire US. Many of our public high schools rank in the top 100 nationwide. It's a great area to live and thrive. The Northeast is also if you can afford it. Thanks for continuing to provide us all this information.
Thank you for that information! And thanks for watching!😊. I appreciate you being here!
Pittsburgh isn't called the "steel city" because of the bridges. It's the steel city because Carnegie opened his steel mill there and the town became the largest producer of American steel.
I am at a loss. These home prices and mortgage rates are decimating the middle class right now. It's getting to the point where owning a home is truly the American "dream" because the reality is home ownership is becoming less attainable for the middle class and becoming more of the rich peoples investments.
You have to move to a less populated area.
Yes. Thank the LLCs.
@@harleydad1975who wants to live in one of the Dakotas? Wyoming? I suppose if you enjoy being alone without any neighbors for miles. No thanks.
@@lisaaustin4561 That's an extreme perspective. Here in South Florida, if you drive 2 hours north same house is 200k less. People can either complain or adapt. I will tell you that complaining doesn't change anything.
@@lisaaustin4561I have a farm In North Dakota with one person around within a 3 mile radius, I can't tell you how incredibly awesome that is.
Thank you for sharing for this nice information.
I live on the west coast and own a rental. My tenants are AWESOME! BUT I feel like telling them to not rent from me anymore so they can build their own net worth. This house has increased in value about $300k in the last 9 years since they've been renting. They tell me (they're a young family) that owning a home is too much work and a little scary.
One of the best real estate channels! Thank you for teaching me using easy English 😅
You left out Colorado, average home $520,000 in 2023 and up 1.5% in 2024. Also, property tax was reassessed in 2023 and increased by 19.5%. Not to mention the increases in homeowners insurance because of the wildfires and hail storms. The cost of the tax and insurance doubles the cost of my mortgage. Principle and interest can be handled it's the PITI that kills ya.
Good to see you again Jackie!
Thank you so much I appreciate this video. And the work you put in this video.
Glad you enjoyed it! Thanks for watching!!!
The WA numbers are actually very misleading. Washington is divided by a mountain range and homes on the east side of the mountains are far, far cheaper than the homes around Seattle and the western portion of the state. So these average numbers being thrown out for WA? They won't even buy you a tear down in Seattle. Tacoma is still a good investment, as it's a rapidly developing city, well located geographically, and has some of the cheapest homes in the greater Seattle metro area, but there are things to be careful of there as well. But under 500k for a two bedroom in Seattle? lol. Yeah, that's just not going to happen.
I believe that the prices for single family homes are much higher that what various companies are reporting. My assumption is that they are also taking townhomes and condos into the count, which I wish could be separated.
Good point!
In California, it depends in which part . Best is in North East . I bought a bigger house at 350k in California big lot newer house. much more cheaper than Reno,Nevada where their prices averages 450-500k.
Florida. You left out home owners insurance. Good luck getting it! Insurers are pulling out and it costs a small fortune.
Used to say Nevada exactly like you and when I moved away from Central Northern New Jersey 33 years ago to the southwestern USA, people easily figured out I was a transplant.
BTW, property taxes in NJ have always been and still are horrendous.
The Big Island HI is less expensive than either Maui or Oahu
I live in Seattle and when I see these home prices, I kept screaming. OMG. That's CHEAP 😆😂
As of September 2023, the average cost of a single family resident in Seattle is $800,000. So yeah. We are all screwed 😂😢
We sold our house north of Seattle and moved to central WA where the weather is better and so is the cost of living. Remote work is making other areas of the state so much more appealing.
@@ckl5590 I couldn't handle the fire season east of the mountains at all.
I feel you - as of March 2024, the median price of a single family residence is $910,000 in Boston 🥲
So helpful
So glad!
A video I'd like to see would be one on states with senior property tax exemptions or no property tax for people over a certain age.
As property tax and the possability of not having to pay it when I'm old , is a part of my equation. When it comes to where I decide to buy.
I know there are rules to these exemptions, in most cases, but it's something to be considered. 👍
It's called a circuit breaker.
Example: Let's say taxes are 400.
You pay like fifty five dollars.
I’m not surprised. My oldest daughter just bought a home there and it was well over the $300K mark.
I have a realtor friend out there in NV, and she told me back at the end of 2022 that people who don't have a home in NV by the end of 2023 will probably never have one.
I don't know what type of crystal ball she was looking into, but she was pretty correct now that I'm looking at it.
She was preparing back then, so she's still doing okay, but it's getting tougher to find her clients' affordable homes. It's making her sad, as her clients are normal everyday middle-class working people and not rich Californians or investors.
My heart goes out to the people in the Western US. It's unsustainable for the average person.
It really is discouraging. I see it every day talking with buyers.
Arkansas is awesome and NWA is so close to all the towns safe and low taxes. MOST homes under 300 in some areas higher.
The desirable areas of Californian and anything near NYC is now only for wealthy people. The divide in the US between rich and poor is bad and it's only going to get worse.
Yeah. Globalization really worked for the middle class didn't it? Remember when we were told that globalization would trickle down on us?
@@divermike8943As if trickle down economics were ever to benefit middle class at all...
I wanted to let your audience know that the prices mentioned for California are for places outside the San Francisco Bay Area. If we are discussing the prices within the San Francisco Bay Area, specifically in areas like San Francisco, Oakland, and San Jose where the tech companies are located, as well as Sunnyvale where many tech workers reside, and Los Gatos where tech CEOs and owners live, the price range for homes is typically around $800,000 to $1.2 million. However, in Los Gatos, the prices can go up to $2 to $10 million, depending on the specific area within Los Gatos. I hope this clarifies the information for your audience.
This is why I will be leaving to Las Vegas, August 2024.
What about Southern New Hampshire, should I buy now or keep waiting?
California will always be the best place to buy a house...it always hold its value and when there's a huge recession, the drop isnt as steep as other states. The people moving out of California are poor people that cant afford these home prices but the people moving into California are high net worth people that can buy these homes.
Yes maryland is really expensive too living here
FLORIDA likely made #1 on the list now. 1000% increase in listings😳home owners insurance is crazy.
I am shocked NY was not on the list??
Don't come to Los Angeles. In Los Angeles its like 1400 to rent a studio in the hood.
Thanks. So what states are good for first time home buyers
Stay tuned! Got another video coming on Sunday night!
I rent...love it.. I invest the difference in the stock market S&P 500 and I'm doing great
Definitely do not move to Florida!!!
But from where? If u r coming from California Florida is still cheap. But it is catching up.
Based on your PFP & your handle, I'm fairly confident I saw what you did there.😉
Agree! We have lived in FL, Sarasota, for 3 years and moved to KY last year. Everything was getting so expensive and we didnt have a mortgage! HOA and insurance overall was getting to be too much. I did enjoy our short time there though!
I’m in Florida and the houses here are way too expensive. I do want to move somewhere more affordable and raise my kids.
Stay away from water or water adjacent states.
I am surprised my state of WA wasn’t in this list. The average home price has increased to 575K not to mention the high cost of living for food and gas. Wages are high but so is the cost to live out here. Our property taxes are reasonable depending upon the county but overall not too bad. Nothing like NJ. I know because I am originally from NJ. Excellent public schools but you pay dearly for it.
Washington was in this list.
@@JackieBaker Oops must have missed that. That's what you get when you are cooking and listening. LOL
I feel you, I am also in Washington state I bought my 1st home in 2005 for $165,000 now they are asking for $400,000 and up for even the basic ranch style home. It truly is nuts without a double income now way you could afford it. Just batshit crazy wait for another market crash before buying in WA state.
to buy and pay for a home one must work to pay the mortgage. recommending moving to a state where the cost of living and home prices are low is great but if that state is not in the industries that career the person is not suitable otherwise will have to commute long distances (via plane, train, etc) unless he works remotely.
Great point!
Thumbs up
in my opinion, putting 6 percent down is DUMB! put your self in a win win situation ... put down at least 30 percent . - your payments are low and if you have 2 incomes in the household ( which is common nowadays) there is more money in your pocket for repairs and upgrades. if you cant afford that you must rent for now and live below your means
Thanks for your input.
Seattle is running about 1 to 1.5 million for a small, older “charming” fixer.
The lists are made by content writers based on how and who pays them, keep that in mind people. Usually "lists" or Top 10 or any of such, are lead generation magnets for websites and do not necessarily show appropriate data so take it with a grain of salt
👀 NY anyone?
Can you write your mortgage off from your income tax? I heard that it is possible. Asking from Canada.
You can write off the interest paid on the mortgage during that tax year.
I live in Nevada and homes around here are going for $550-$650k. Maybe cheaper in Vegas? I don't know. Housing prices out of control right now.
If you buy a house in Hawaii, be sure to paint the roof blue.
How about this color 💩?
One question is it possible to avoid paying property taxes and taxes legally any states
No.
But will if I try to do that
A few states will not evict you for not paying property taxes, but when you sell you'll owe or if you die, your inheriter's will owe those back taxes.
Live in WA state the housing market is nuts WAY!!!!! overpriced. $4050 mortgage payment that is insane. Olympia's solution for everything just keep upping that minimum wage that'll fix everything!!
no way can you buy a house in Cali for under a million
Yes! Please don’t move to California 😮
Texas didn't make it!
Why is Delaware on this list
Because of the high foreclosure rates
Joe Biden destroyed our state before the countries destruction
Thank you
I rent 😂
NV Home price 2BDR: $305K. Annual AC Cost: $400K
All my wife and i wanted was to eventually own a home. Seems the more time that goes by the farther that option gets away from us.SMH
I'm sorry you're feeling that way.
this whole video is moot. what if I were offered a job in one these states at twice the salary of a lower housing cost state for example? it's all relative...
So i can live in California if I have a job get help from a down payment assistance program and sell meth as a side hustle so where do I sign up 😂😅.
Stay away from the states that I have ever lived in ok
so in the disclaimer, u admit to basically plagiarizing someone else's work (to get the views and income), but tell us to only blame them if we disagree with the actual content. talk about having your cake and eating it too...
What a joke, Nevada was the place of nuclear testing in the past.