There are few things more monumental in life than purchasing your first home. While everyone buying a home wants the entire process to go smoothly, this is even more important for inexperienced buyers. Unfortunately, your happiness with your home may come down to where you are located. Some cities are just less friendly for new buyers than others. These are the four worst cities for first-time home buyers in the United States.
Santa Barbara, California
First-time home buyers are generally young adults and new couples. While they are getting ready to start a better chapter of their life, first-time buyers often do not have a lot of excess funds. This is why it is best to steer clear of Santa Barbara. This city on the California coast has the least affordable houses in the entire country. It also costs more to live in Santa Barbara than anywhere else.
First-time buyers often do not stay in their first home very long. The growth of their family and career pushes them to upgrade their living situation. Since you likely will not be staying in the new house for the rest of your life, the local real estate market is very important. You want the house to appreciate in value while you are living there to make buying the next home a little easier. Erie, Pennsylvania, has the lowest average home-price appreciation in the United States.
Miami Beach, Florida
There is nothing worse than having your new home damaged by criminals. This forces you to spend money you may not have while also making you feel less safe in your new home. While property crime can occur just about anywhere, it is more prevalent in certain locations. The highest property crime rates in the country are found in Miami Beach, Florida. Your odds of being a victim are higher in Miami Beach than anywhere else.
Taxes may be a normal part of life, but nobody likes paying them. High real estate taxes can potentially raise your monthly expenses by hundreds of dollars. This is why it may be best for first-time buyers to avoid Waterbury, Connecticut. This large city ranks dead last in terms of real estate tax rates in the country.