Where is the smartest place to buy a house?

The "smartest" place to buy a house depends on your goals (affordability vs. appreciation), but top contenders often balance growth, low taxes, and reasonable prices, with states like Tennessee, Texas, Georgia, North Carolina, and Ohio frequently cited for opportunity and value, while cities like Louisville (KY), San Antonio (TX), and Columbus (OH) offer great affordability and lifestyle in 2025/2026. Focus on areas with strong job markets (tech, healthcare), no state income tax (TN, TX), and lower cost of living for smart long-term value.

Where is the best place to buy a house right now?

The "best" place to buy a house now depends on your goals (affordability, investment, starter home), but strong contenders for overall value and potential include Athens, GA, Omaha, NE, San Antonio, TX, and areas in Florida (Lakeland, Tampa) and North Carolina (Durham) for investment. For starter homes, West Virginia, Mississippi, and Oklahoma are top states for affordability, while cities like Iowa City, IA, and Springfield, OR, offer good entry points. 

What salary do you need for a $400,000 house?

To afford a $400k house, you generally need an annual income between $90,000 and $135,000, though this varies by interest rates, down payment, and debt, with lenders often looking for housing costs under 28% of your gross income (28/36 rule). A lower income might suffice with a large down payment or higher interest, while more debt requires a higher income, potentially pushing the need to over $100k-$120k+ annually. 

What is the 3 3 3 rule in real estate?

Three months of savings, three months of mortgage reserves, and three property comparisons give you confidence and flexibility. When you follow the 3-3-3 rule, you're not just buying land, you're building a plan that could protect your investment, your lifestyle, and your financial health.

What's the best state to buy a house in right now?

The Best States to Buy a House Right Now (List Based on Affordability and Value)

1. West Virginia: Leading the Nation in Home Affordability. ...
2. Arkansas: Low Prices and Reasonable Property Taxes. ...
3. Mississippi: Budget-Friendly Living with Low Mortgage Payments. ...
4. Indiana: Affordable Midwest Homes and Cost of Living.

How to Buy a House | First Time Buyer Mortgage UK

What is the cheapest but safest state to live in?

For the best combination of cheap and safe, consider states like Iowa, Kansas, Mississippi, West Virginia, and Arkansas, which consistently rank high in affordability (low housing, groceries, overall cost of living) while also offering manageable safety, with Vermont and New Hampshire often topping pure safety lists, though they are pricier. The ideal balance depends on whether you prioritize the lowest cost (Mississippi) or strong safety (Vermont), with Midwestern/Southern states generally offering lower expenses and Northern/New England states often leading in safety metrics. 

What is the 50% rule in real estate?

The 50% rule in real estate is a quick screening tool for rental properties, suggesting that operating expenses (taxes, insurance, maintenance, vacancy, etc.) will roughly equal 50% of the gross monthly rent, leaving the other 50% for mortgage payments, property management, and profit. It's a simple way to quickly filter out bad deals, but it's an estimation that needs deeper analysis, as actual costs vary significantly by location and property type.
 

What is a red flag when buying a house?

Red flags when buying a house include visible issues like foundation cracks, water stains, mold, musty smells, poor DIY renovations (crooked cabinets, cheap finishes), and neglected yard, signaling hidden problems with structure, drainage, or maintenance, plus neighborhood issues (many "For Sale" signs, busy roads) or unclear seller reasons for moving, all pointing to potential costly repairs or future headaches. Always get a professional inspection to uncover issues with the roof, electrical, plumbing, and structural integrity before buying. 

How much of a house can I afford if I make $70,000 a year?

With a $70,000 salary, you can generally afford a house between $210,000 and $350,000, but your actual budget depends heavily on your credit score, existing debts, down payment, and current mortgage rates, with lenders often following the 28/36 rule (housing costs under 28% of gross income, total debt under 36%). A good starting point is keeping your total monthly housing payment (PITI) under $1,633, but a lower Debt-to-Income (DTI) ratio and larger down payment increase your buying power. 

What is Warren Buffett's #1 rule?

Warren Buffett has long been known for two rules: Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.

What is a good credit score to buy a house?

640-699: Qualified for a home loan, but not the best mortgage rates available. 700-749: Strong borrower with access to good interest rates and more home loan options. 750-850: Excellent credit! You'll qualify for the best interest rates and loan terms.

How much house can I afford if I make $36,000 a year?

With a $36,000 salary, you can likely afford a home in the $100,000 to $150,000 range, but this heavily depends on your debts, credit, down payment, and location, with lenders looking at a maximum monthly payment of around $900-$1,000 (around 30% of your gross income) for PITI (principal, interest, taxes, insurance). Use online calculators and factor in your full budget, as high-cost areas or significant loans will reduce this significantly, while low-debt/high-down-payment scenarios improve it. 

Can I afford a 500K house on 100k salary?

You might be able to afford a $500k house on a $100k salary, but it will be tight and depends heavily on your existing debts, credit, down payment, and location; the general guideline (28/36 rule) suggests your total housing costs (PITI) should be around $2,300/month, while some scenarios show you'd need closer to $117k-$140k income or have very little left after housing, taxes, and insurance. 

What is the #1 best place to live in the US?

There's no single #1 best place; it depends on what you value, but recent studies highlight Johns Creek, GA (U.S. News 2025-26 for overall quality/value), Naperville, IL (Forbes 2025 for affordability/family), and Fremont, CA (happiest city) as top contenders, alongside states like Massachusetts for quality of life, with mid-sized metros like Green Bay, WI, and Raleigh, NC, also praised for balance. 

Where is the cheapest place to buy a house in the US right now?

From low property prices to affordable living costs, these areas provide excellent opportunities for first-time buyers and anyone looking to save.

• Ohio. Ohio remains one of the most affordable places to buy a home in the United States. ...
• Kentucky. ...
• Oklahoma. ...
• Delaware. ...
• Indiana. ...
• Louisiana. ...
• Arkansas. ...
• Mississippi.

Where are house prices falling fast?

Home buyers are getting some relief in the form of lower home prices recently. That's partly due to rising inventory and more sellers being willing to slash prices in key metros. San Diego-Chula Vista-Carlsbad topped the list of markets where prices are dropping the fastest.

How much house can I afford if I make 300k a year?

With a $300k salary, you can likely afford a home between $900,000 and $1.1 million, but this depends heavily on your debt, credit, down payment, interest rates, and location, with general guidelines suggesting housing costs under 28% of gross income and total debt under 36%. A 28/36 rule calculation puts your maximum affordable home price around $1.1M, but aiming lower (like $925k) provides more comfort for property taxes, insurance, and HOA fees, while a large down payment (like 20%) can eliminate PMI and increase affordability. 

How much can I borrow a home loan?

How much you can borrow for a home loan depends on your income, credit, existing debts, and down payment, with lenders often using the 28/36 rule (max 28% of gross income for housing, 36% for all debt) or a higher Debt-to-Income (DTI) ratio (around 43%) for qualification, though factors like loan type (FHA, VA, Conventional) and interest rates significantly affect the final loan amount, so using an online affordability calculator and talking to a loan officer is key. 

How much can I afford for rent?

Monthly Rent You Can Afford

We know 25% might seem like a low number to you. After all, there are plenty of people who spend a lot more than that on their housing costs—and some so-called “financial gurus” even teach that it's okay to spend 30% of your take-home pay on rent. (They call that the “30% rule.”)

What devalues a house the most?

5 things to avoid that can devalue your home

1. Rough renovations. Renovation projects are likely the first thing that comes to mind when people think about increasing equity. ...
2. Unusual renovations. ...
3. Extreme customization. ...
4. An untidy exterior. ...
5. Skipped daily upkeep.

What salary do you need for a $400,000 mortgage?

To afford a $400,000 mortgage, you generally need an annual income between $100,000 and $135,000, but this varies significantly with your down payment, interest rate, and debts; a larger down payment (like 20%) lowers required income to around $100k, while less (5-10%) pushes it closer to $130k-$145k, with lenders looking for housing costs under 28-36% of gross income.
 

What to avoid when buying a house?

6 Mistakes to Avoid When Buying a House

• Making Credit Inquiries. Every time a business checks your credit score — what's called a “hard inquiry” — it takes a little ding. ...
• Opening a New Line of Credit. Owning a new home means lots of new expenses. ...
• Missing a Payment. ...
• Moving Money Around. ...
• Changing Jobs. ...
• Leasing or Buying a Car.

Why do wealthy people rent instead of buy?

For many wealthy households, renting is less about cost and more about flexibility, lifestyle, and keeping money stashed in other investments. Renting luxury properties lets millionaires avoid ownership burdens like maintenance, high transaction costs, and market timing risks.

What is the 3 7 3 rule for a mortgage?

The correct answer option was, "B!" TRID establishes the 3/7/3 Rule by defining how long after an application the LE needs to be issued (3 days), the amount of time that must elapse from when the LE is issued to when the loan may close (7 days), and how far in advance of closing the CD must be issued (3 days).

How much income to afford $3,000 rent?

You must make $10,000 per month to afford a $3,000 monthly rent. You must make $6,667 per month to afford a $2,000 monthly rent. You must make $5,000 per month to afford a $1,500 monthly rent. You must make $3,500 per month to afford a $1,050 monthly rent.