Looking for a new place to call home? With so many options to consider, finding the right location can sometimes be challenging. Narrowing down what's most important to your lifestyle is a good way to start.
If you'd like some guidance, Wallethub has ranked 2019's best states to live in based on five criteria. While major cities in places like New York typically receive the most attention and highest demand, they may not be the best place for you. According to the report, Massachusetts, Minnesota, New Hampshire, New Jersey and Colorado ranked highest based on the factors below.
Housing Affordability: Understanding what you can afford helps to narrow your focus and minimize stress. To determine affordability, look at average rents, home prices, property taxes and overall cost of living.
Economy: The economic confidence index can show you the current economic conditions and the predicted trends for a specific location. Meanwhile, an area's employment rate and job postings can assist you in exploring career opportunities.
Quality of Life: Your happiness is important! Work schedules and commute times could greatly affect your life. Additionally, access to public transportation and amenities, such as restaurants, gyms and museums, might impact your overall satisfaction with your home.
Education & Healthcare: A good, local school system is often a priority for families who have children or plan to have children in the future. In addition, access to hospitals could be critical in emergencies. Be mindful of your family's needs during your home search.
Safety: Safety is often top of mind for families. Information on crime rates and other safety factors are often made available to the public. A quick search can help you feel more secure in your new home.
Finding the right location is an important step in the homebuying process. Visit My Home by Freddie Mac® to learn about what comes next.