Owning your own home is a common dream for many people. However, purchasing a home can be expensive, so it’s not uncommon for many who are buying a new house to look for savings in any way they can.
While there are many ways to save money during the home-buying process, such as looking around to compare home insurance quotes to find your lowest rate, the cost of living and location are the most significant ways to save.
Where you live greatly impacts how much money you’re spending. Some locations have more affordable homes than others. So, these locations should be high on your list if you want to save on your next home purchase.
Discover the Most Affordable Homes
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Detroit, Michigan
Once a booming factory town pumping out most of the nation’s car supply, Detroit has seen a massive drop in population over the past 50 years. While this fact may make you think the Motor City isn’t worth moving to, Detroit has made many strides to build back its economy and develop properties in recent years.
With a median home price of just under $70,000, it’s hard to beat the cost of moving here. Detroit should be at the top of your list if you’re searching for a low-cost home in a city bound to make a comeback.
Cleveland, Ohio
If a nice lake breeze is something you think you would enjoy, Cleveland may be your new ideal location. Bordering the beautiful Lake Erie, this exciting city offers you fun activities and plenty of lake days during the summer months.
Cleveland has a median home value of just over $112,000, making it an inexpensive choice for anyone looking to save on their home costs.
Macon, Georgia
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If picturesque Southern charm is high on your list, Macon may be an excellent choice for your new home location. This beautiful city has a historic business district downtown and stunning nature views.
For a median home price of just under $145,000, Macon is an affordable location for anyone looking to enjoy a slower pace of life while still having access to shopping and major retailers.
Erie, Pennsylvania
Another affordable city bordering Lake Erie, this Pennsylvania city offers residents a stunning wine country, excellent fishing, and festivals filled with fun. There is also a lot of shopping, with a bonus: Erie does not tax apparel sales.
The median home price in Erie is just over $165,000, making it a reasonable price for those looking to enjoy a city with a small-town feel.
St. Louis, Missouri
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St. Louis might be the perfect city for you to begin your housing search if you’re looking for a lot of action with a low housing cost. This historic area is home to major sporting events, theme parks, and the Gateway Arch.
With a median home price of just over $176,000, St. Louis is an affordable option for those looking to be surrounded by entertainment without breaking the bank. Homes here also boast beautiful and historic architecture, making them perfect for someone looking to own a little piece of history.
Saving Money on Your Perfect Home
House hunting can be a stressful process. When you add on the current skyrocketed cost of housing, it can become a nightmare for anyone hoping to relocate.
However, some excellent options exist for those looking to purchase a home and still save money. Many cities still offer affordable homes without sacrificing the excitement and fun of loving where you live.
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