Two cities in the Sunshine State have been named among the best – and the worst – places for first-time buyers, citing market attractiveness, affordability and quality of life.
According to WalletHub, Tampa is the best place in the U.S. for first-time home buyers, while Miami was ranked the 10th worst city.
The ranking was done by comparing 300 cities of varying sizes across 27 key indicators of market attractiveness, affordability and quality of life. The data set ranges from cost of living to real-estate taxes to property-crime rate.
Terry Fields, associate professor of property management and real estate at University of Alaska Anchorage, says there are a number of factors first time home buyers should consider when choosing a neighborhood for them. This includes transportation, security, schools, entertainment, legal matters, and appreciations.
“A famous saying is ‘crime has no address,’ but there are certainly measures that can be taken to try and minimize your exposure to it when selecting a neighborhood,” he says.
“Most cities offer public information about the number and nature of crimes and may even overlay them on a map. This can help identify present hotspots for criminal activity.
“Additionally, buyers should drive the area at different times of the day, looking at the behavior of the neighborhood, signs of a community watch program, or other security measures currently being taken.”