How To Decide Where To Live

What to Consider Before Moving to a New Location

Where you choose to buy a home is as important as the actual house you buy. There's a lot to consider, especially if you're moving to a new, unfamiliar area. Your decision where to live can affect everything from your daily routine and finances to your happiness and long-term goals. With so many factors to weigh, it's easy to feel overwhelmed. No worries, we'll walk you through the most important considerations to help you decide where you'll feel the most at home.

Where Should You Live?: Key Factors to Consider

There's no single answer to where you "should" live. Your ideal place to settle will depend heavily on your job, family, lifestyle, stage in life, and more. Are you a young professional looking for career growth opportunities? Growing a family and need access to good schools? Or are you planning for retirement?

Whether you're choosing a location based on affordability, proximity to family, or your stage in life, some key factors can help you make a confident decision:

Home Affordability

A good first step is to see if there are affordable homes in the area where you want to live. In addition to home prices, be sure to look at property taxes, as they can have a big impact on your total monthly housing expenses. You should also consider the kinds of houses you can afford in the place you want to buy. Single-family homes are often more expensive than townhouses or condos, for example.

For those looking for more ways to make homebuying affordable, an FHA loan is ideal for eligible borrowers. Especially popular for first-time homebuyers, FHA loans can help you buy a home with a low down payment, and more flexible income and credit score requirements than conventional loans.

Cost of Living

The cost of living in a community includes much more than just housing costs. The costs of food at grocery stores, clothing, utilities, transportation (including fuel), health care, childcare, state taxes, and local taxes are all important to consider when determining your cost of living, too. You can research these costs online by checking out this calculator from the Economic Policy Institute.

Location: Small Town, Metro Area, or Something Else?

Some people love the energy of a big city. Others love the quiet of the countryside. Think about the size of the community you'd like best, then look for those places.

If you lean more toward a small town in the suburbs or a rural area, a USDA loan might be a good fit. Depending on your eligibility, a USDA loan could help you get a home in the location you want with perks like 0% down payment.

Proximity to Your Priorities

Where you live affects how connected you feel to the people and places that matter most to you. If you like to travel or visit family and friends around the country (or world), living close to highways and major transportation hubs makes these activities easier and less expensive.

Consider how close you want to be to family, friends, and your workplace. For some, being near a support network outweighs other factors, while others prioritize flexibility and new experiences.

Job Opportunities

When employment opportunities are important to you, research the job market in the area where you want to live, including the kinds and numbers of jobs available, what they pay, the unemployment rate, and major industries. Look at how far you may have to commute and how much it might cost you.

Even if you're currently employed and enjoy remote work, living in an area with a strong job market can provide added security and flexibility for the future.

School District

For families or those planning ahead, the quality of schools in their area is a critical factor. Strong school districts can impact your child's education and even influence home values over time.

If the local schools are important to you, you can do research online, visit local schools, or talk to parents in the community. You may also want to look at the availability of daycare centers and after-school programs.

Community Safety

Feeling safe where you live is essential for your peace of mind and health. Crime rates differ from place to place and neighborhood to neighborhood within a city, too. Research crime rates, neighborhood safety trends, and any local community safety initiatives. You can also find out how local residents feel about safety in the area.

Quality of Life

Quality of life isn't just about practical considerations—it's about what makes life enjoyable. Do you like great restaurants, shopping, entertainment, and culture? Do you enjoy access to beaches, lakes, forests, or mountains? Do you want to be near a particular faith community or volunteer group?

Think about what's important to you and look for places to live that have that vibe. If you're moving away from family and friends, a place with many activities and organizations could help you meet new people.

Healthcare Availability

Among all the other considerations you're debating when choosing a place to live, access to healthcare can be easily overlooked. However, it's an important long-term consideration. You'll want good hospitals and healthcare providers to handle any needs you may have.

Check your current health insurance and confirm you have good coverage where you want to live, since many health plans are based around regional networks of doctors and hospitals. Look at the availability of hospitals, primary care providers, specialists, and urgent care facilities. If you have a specific or ongoing health issue, you may want to reach out to your current practitioner for recommendations on continuing your care.

Public Transportation and Walkability

Is the community walkable, or do you need a car to get everywhere? How's the local network of trains, buses, bike lanes, and more? Consider all the ways you prefer to get around, and what your preferred area offers.

Living closer to work or in a walkable neighborhood can save time, reduce transportation costs, and improve day-to-day convenience.

Weather and Climate

Do you like having four seasons, or would you prefer beach weather year-round? Do you hate being cold or can't stand hot or humid weather? The kind of weather you like best can be a big factor when you're deciding where to live and can influence your daily habits, mood, and lifestyle.

It's also a good idea to think about how the area may be changing where you want to buy a home. The risks of flooding, drought, heat, storms, and fire are changing in many parts of the country. These changes can make it more difficult or expensive to get insurance coverage for your home, as well.

Additional Tips For Choosing Where To Buy a Home

After taking careful note of your priorities, there are some additional steps you can take to confirm you know exactly where you want to buy a house:

• Visit the area frequently, walk around the neighborhoods, stop by the local coffee shops, and pay attention to how the environment makes you feel.
• Chat with local business owners about their experience in the community.
• Look for city or town websites and social media pages that display community events, local stories, and other neighborhood insights.
• Explore opportunities to stay in or near the towns you're considering for a couple of days to truly experience what it would be like to live there.
• Make a spreadsheet with key considerations, pros, cons, and any facts you gather while narrowing down your options.
• Speak with a real estate agent to share what you're hoping for and get professional recommendations.

Final Thoughts: Deciding Where To Live

Choosing where to live is often the first step toward homeownership. Once you've narrowed down your ideal location, exploring your homebuying options and understanding what you can afford can help you turn that decision into reality.

Freedom Mortgage is here to help you every step of the way to buying a new home. Get prequalified today to see your personalized loan options so you can get started with not just finding a place to live but finding a place to call home.