Hidden Costs of Homeownership Top $9,000 a Year
Prepare yourself by knowing the less-obvious costs of owning a home. Insurance, maintenance and more add up faster than you think.
Hidden Costs of Homeownership Top $9,000 a Year
Prepare yourself by knowing the less-obvious costs of owning a home. Insurance, maintenance and more add up faster than you think.
Where Renting Pays: Places Where Owning Takes a While to Pencil Out
It takes more than two years before buying the typical U.S. home makes more financial sense than renting it -- but that time frame varies by market. In San Jose, you'd have to spend 5.1 years in a house for buying to make more sense than renting.
Zillow’s Breakeven Horizon: The Financial Answer to ‘Rent or Buy’?
Here's a tool for helping weigh the financial side of an exciting and personal question.
Transfer Taxes: A Rude Surprise for Some Home Sellers
These taxes are a commonly overlooked hidden cost to selling, and they vary considerably across markets. For example, transfer taxes on a median-valued home in Chicago total $2,501. If you live just outside the city limits, they're only $313.
Southern Comfort: First-Time Home Buyers Will Find More Favorable Conditions in the South
First-time home buyers looking for friendly market conditions would do well to avoid the busy, headline-making markets in the West and the Northeast, and focus their search instead on homes in slower-moving, more sedate Southern and Midwestern metros.
Without Spending More, Some Renters Could Likely Afford to Buy Above-Average Homes
With rents continuing to climb and mortgage rates staying low, many renters find themselves gazing over the homeownership fence and wondering if the grass really is greener.
Nearly Two-Thirds of Americans Live Far From Healthy Food, Some by Choice and Some Not
For many people, using a car to reach healthy food stores is a lifestyle choice. But 20 percent of the country’s non-rural population – or 47.3 million people – have both low incomes and low access to fresh food. Of the households living in food deserts, 7.9 percent don’t have access to a vehicle and must rely on public transportation or walking to reach an area with healthy food.
An expected slowdown in the pace of home value growth in a number of pricey, fast-moving markets means it may take longer going forward to break even financially when buying a home in those areas compared to renting it.
Getting a Mortgage Was Easier Overall in 2015, But Remains More Challenging for Minorities
Newly released mortgage application, approval and denial data from the Home Mortgage Disclosure Act show that getting a mortgage continued to get somewhat easier in recent years, a boon to buyers otherwise concerned with fast-moving inventory and intense competition. But despite improvement overall, there remain stark differences in mortgage denial rates and the ease of getting a mortgage between whites and minorities.
Making It Work in the Mile-High City: Denver’s Rapidly Growing – and Changing – Job Market
Denver today is one of America’s fastest-growing and hottest markets, a far cry from the largely rough-and-tumble and relatively slow-moving mountain metro it was even 15 years ago. And as the city has changed, so too has its job market.
