Summerville, a picturesque town nestled in the heart of South Carolina, encapsulates a unique blend of southern charm, historic significance and modern convenience.
The overarching question — is Summerville, SC, a good place to live? — becomes easier to answer as one delves into the fabric of this quaint yet burgeoning locale. The aim of this article is to provide a well-rounded view of living in Summerville, the cost of living, employment opportunities and the social and cultural fabric that awaits newcomers and longtime residents alike.
Location, location, location
Summerville’s geographical positioning allows its residents to experience a plethora of sceneries and activities. Charleston Harbor is a mere 24 miles away, offering access to an expansive maritime vista, while a short drive to Folly Beach or Sullivan’s Island opens up a gateway to sun, sand and surf.
Demographic diversity in Summerville
The racial makeup of Summerville, SC, presents a mosaic of cultures, predominantly comprising white, Black, Latine and Asian communities, thus fostering a rich cultural blend. The inclusion of different ethnicities is a part of Summerville’s charm, allowing for a vibrant, multicultural community.
Historic significance
History aficionados would be drawn to Summerville’s rich history, with the town playing host to numerous historically significant sites. The Drayton Hall, Magnolia Plantation and the Aiken Rhett House Museum offer glimpses into the antebellum era and Civil War history.
Weather and natural disasters
While Summerville, SC, does experience hurricanes, the town has a solid infrastructure in place to manage and mitigate the effects of such natural disasters. Its inland location serves as a natural barrier, providing a level of protection against the harshest weather conditions.
Education and employment in Summerville, SC
Charleston Southern University, located a short drive away, is one of many educational institutions offering quality education to Summerville residents. The town also boasts a growing job market with varied employment opportunities, ensuring a stable economic outlook.
Recreational activities
The abundance of walking trails like the Oakbrook Nature Trail, and waterways such as Ashley River, provide ample recreational opportunities. The nearby Jessen Public Boat Landing is a favorite among boating enthusiasts.
Cost of living in Summerville
The cost of living in Summerville, SC, is generally lower than the national average, which is a significant draw for many. Housing, represented by a mix of historic homes, new construction, and Summerville homes in serene neighborhoods, is relatively affordable with the median home price being attractive to both young families and retirees.
Summerville’s real estate market
The real estate market in Summerville, SC is thriving, thanks to a boom in population growth and the subsequent demand for housing. Real estate agents are seeing an upward trend in property values, yet the cost of owning or renting a home remains affordable compared to many other regions in the South.
Culinary scene in Summerville, SC
The culinary palette in Summerville is as diverse as its populace. From smoked chicken to pork belly, ribeye steaks to fried green tomatoes, the food scene is a blend of traditional southern and modern cuisines. Restaurants and food trucks alike offer a wide range of food options, catering to different tastes.
Social aspects
Southern hospitality is alive and well in Summerville. The small town feel, coupled with the friendliness of Summerville residents, creates a welcoming environment. Community events like the Flowertown Festival are a testament to the town’s social cohesion, bringing together people from all walks of life.
Summerville’s growth trend
Summerville’s growth trend is a positive indicator of its viability as a place to live. The influx of more people, bolstered by opening doors of opportunity, is transforming the town while retaining its historic charm.
Conclusion
The blend of affordable living, a robust real estate market, promising job opportunities and a welcoming community makes Summerville, SC a great place to live. Its proximity to beaches, historic downtown Charleston and numerous tourist attractions, like the Folly Beach County Park, add to the allure.
Individuals and families considering moving to Summerville will find a balanced mix of historical essence, modern amenities, and a promising future. If you’re ready to make your move, take a look at our Summerville, SC, apartments for rent.
Portland, an East Coast city and the largest city in Maine, offers a blend of old-world charm and modern sophistication.
Nestled amidst a beautiful coastline and lush greenery, this city has seen an uptick in popularity over recent years, drawing people from all walks of life.
But, is Portland Maine a good place to live? This comprehensive look aims to explore the facets of living in Portland from its food scene to housing costs, aiming to provide a holistic view of life in this quaint New England city.
Historical and cultural richness
Portland is steeped in history with its cobbled streets in the Old Port, Victorian architecture in the West End, and a thriving arts district along Congress Street. The city boasts an inclusive community that celebrates local artists during events like First Fridays. The Portland Symphony Orchestra further enhances the rich cultural tapestry of the city.
Nature and outdoor activities
With its proximity to both the Atlantic Ocean and white mountains of New Hampshire, Portland offers a plethora of outdoor activities. Casco Bay invites sailing and kayaking enthusiasts, while the nearby forests and trails are perfect for hiking, cross-country skiing or leisurely walks. Eastern Promenade and Back Cove offer stunning locales for outdoor relaxation and exercise, promoting a healthy lifestyle among Portland residents.
Gastronomic adventure
Dubbed as a ‘Restaurant City’, Portland prides itself on its thriving food scene. The city is synonymous with fresh seafood, especially its famed lobster rolls. Coffee shops, breweries and restaurants line the streets, serving everything from traditional New England fare to international delicacies.
Education
Portland Public Schools provide a solid educational foundation, serving a diverse student population. The city is also close to several reputed colleges and universities, providing a wide range of educational opportunities.
Employment and economic opportunities
Portland has a burgeoning job market, particularly in healthcare, education and the maritime industry. Small businesses also thrive here, supported by both locals and tourists.
Housing and cost of living
The real estate market in Portland can be quite competitive with housing costs being above the national average. While there are affordable housing options in nearby communities, the high demand in Portland has driven up real estate prices within the city limits. However, compared to other larger cities on the East Coast, Portland’s cost of living remains relatively moderate, making it an attractive option for many middle-income earners.
Public transportation
Portland offers a reliable bus system, making it easy to commute within the city and to nearby areas. However, the city’s compact size also makes it highly walkable, especially during the warmer months.
Social aspects
Young professionals, families and retirees find a welcoming community in Portland. The city’s population density allows for a small-city feel, yet it is bustling with activities and social events that provide a sense of a larger city vibrancy.
Pros and cons of living in Portland
Learn what’s most desirable and undesirable about living in this quaint coastal city.
Pros:
Rich Cultural Scene: Portland is a haven for art enthusiasts and those interested in historical architecture.
Outdoor Activities: Easy access to a variety of outdoor activities makes Portland a nature lover’s paradise.
Food Scene: The city is a hotspot for foodies, offering a vast array of culinary delights.
Community Feel: Portland residents enjoy a strong sense of community and friendly neighborhoods.
Educational Opportunities: Quality public schools and nearby higher education institutions are a plus.
Cons:
Cost of Living: The cost of living, particularly housing costs, can be a hurdle for some.
Winter Weather: The long, cold winters might not appeal to everyone.
Sizable Homeless Population: Like many urban areas, Portland faces challenges with homelessness.
Traffic: While not comparable to bigger cities, traffic, especially during rush hour, can be frustrating.
Conclusion: Moving to Portland, Maine?
Portland, Maine, offers a unique living experience with its rich history, cultural activities and beautiful surroundings. While the cost of living and winter weather may deter some, many find the community atmosphere, educational opportunities and the food scene well worth it. Its increasing popularity reflects the city’s appeal, making Portland Maine a very enticing place to consider as a home.
The array of experiences, from strolling down the cobblestone streets of Old Port to enjoying a fresh lobster roll by the bay, encapsulates the essence of living in Portland. For those who value a blend of nature, culture, and culinary delights, alongside a laid-back yet vibrant city life, Portland, Maine, might just be the perfect place to call home.
If you want to make your new home port in Portland, ME, take a look at our available apartments for rent.
These streets will make you feel brand new. Big lights will inspire you.
The Big Apple is one of the most iconic places on Earth. New York City residents even go as far as to associate the concrete jungle with who they are as a person. With world-class museums, accessible public transportation, delicious restaurants, influential theatres and many famous landmarks, the city is truly a tourist’s paradise.
But while visiting is fun, moving to New York City may feel overwhelming. Between apartment hunting, navigating steep annual rent and the various boroughs of the city, the city feels like no other city.
In this guide, we’ll break down what you need to know before you pack your bags and set off to become a New Yorker.
Moving to New York: the complete Big Apple overview
New York City is the most populous city in the United States. Thinking of the city might conjure up images of the Empire State Building, the Statue of Liberty and the bright lights of Broadway.
However, there’s much more to the city than the tourist hotspots. New York City is divided into five boroughs: Manhattan, Brooklyn, Queens, the Bronx and Staten Island. Each has a distinctive personality, with different cultural influences and attractions.
While each area is different, here are some key figures to give you a glimpse of the city overall.
Population: 8,500,000
Population density (people per square mile): 29,302.6
Median income: $70,663
Average studio rent: $4,264
Average one-bedroom rent: $5,367
Average two-bedroom rent: $7,914
Cost of living index: 100
Popular neighborhoods in New York
Between all five boroughs, New York City has hundreds of neighborhoods to explore. But don’t let this intimidate you. They’re all connected by New York’s world-famous transit system, so you can peruse them at your leisure. Here are a few of our favorite neighborhoods to get you started.
Astoria: Astoria is located in Queens, just across the river from Manhattan’s Upper East Side. This charming neighborhood is made up of low-rise buildings and small businesses, giving it a more suburban feel than you might expect in the big city.
Riverdale: Who said you couldn’t get beautiful green spaces in New York City? Riverdale, located above Manhattan in the Bronx, is known for its natural landscapes. With Van Cortlandt Park, Wave Hill and stunning Hudson River views, this quiet residential neighborhood is ideal for New Yorkers who still want to enjoy the great outdoors.
West Village: The West Village, located in downtown Manhattan, perfectly encapsulates the New York you know from your favorite movies and TV shows. This charming spot is tucked inside the larger Greenwich Village. It features tree-lined streets, historic brownstones and plenty of well-preserved historical landmarks from the neighborhood’s bohemian past.
Upper East Side: The Upper East Side offers excellent residential options and world-famous cultural sites. Located between Central Park and the East River, the neighborhood offers plenty of places to get outside and explore. The Upper East Side is also home to Museum Mile, where more than a dozen art and history museums await.
Williamsburg: Williamsburg is a great example of New York’s diversity. The Brooklyn neighborhood has long been a place where cultures blend, with plenty of eclectic dining, art and entertainment options. It’s also known for its family-friendly atmosphere with parks and tree-lined streets.
The pros of moving to New York
New York, the city that never sleeps, holds a unique place in the hearts of its residents. There’s no place in the world quite like New York City and few cities that even come close to comparable. Here are just a few of the reasons that people love living in this city.
A true cultural melting pot
More languages are spoken in NYC than in any other American metro. With its long, rich immigration history, the city hosts a colorful blend of traditions, cuisines and lifestyles. Especially through the distinct boroughs of New York City, which each have its own unique personality and cultural identity.
From the vibrant energy of Manhattan to the artistic ambiance of Brooklyn, the historical charm of Queens, the green serenity of the Bronx and the island spirit of Staten Island, no matter where you go in New York, you’ll always have the opportunity to learn about a different culture.
No car required
New Yorkers love to complain about their subway system. However, even they secretly know they have it better than most people in the other cities. New York City’s subway serves more than 400 stations, making it a breeze to get where you need to be.
The subway map shows the subway also connects to numerous bus lines, ferry stops and commuter trains, giving riders even more options. From the Upper West Side to Staten Island, the subway is the easiest way to get around your new city.
There’s always something to do
Getting bored in NYC just might be impossible. The city boasts hundreds of restaurants, bars, museums, theaters and places to shop. New York City also has excellent parks, scenic riverfront trails and even beaches. Whether your ideal Saturday is spent at the Metropolitan Museum or taking a subway ride to walk the Brooklyn Bridge, you will never run out of places to explore.
The cons of moving to New York City
Of course, no city is perfect. Here are a few downsides that you should consider before you move to New York.
The high cost of living
New York City is one of the most expensive cities in America. Here, you can expect everything from your monthly rent to your groceries to cost a bit more. Space is also at a premium, so even expensive rentals tend to be smaller than what newcomers might be used to. Even your security deposit will be a tad pricier than you are probably used to.
It’s hard to avoid the crowds
NYC is the most densely populated city in America. As such, it can be hard to avoid the crowds when you’re out and about. Neighborhoods in midtown and downtown Manhattan can get particularly packed, so plan accordingly. Consider neighborhoods like Staten Island and Brooklyn when opting for a less densely populated area in New York, with all the same perks and amenities.
The realities of big-city living
Living in any big city can take some getting used to and New York is no exception. The city can be noisy, dirty and downright overwhelming. If you’re coming from a smaller city or town, New York may feel like a different planet. It’s best to visit the Big Apple during your apartment hunt to really get a feel for the space and pace of the city.
How to get started on your move to New York
New York is a city that’s in constant motion. But for the people who live here, no place feels more like home. If you’re ready to make New York your home, we’re here to guide you every step of the way. Find your perfect New York City apartment here, and get ready for your journey to the city that never sleeps.
Methodology
Rent prices are based on a rolling weighted average from Apartment Guide and Rent.’s multifamily rental property inventory of one-bedroom apartments. Data was pulled in October 2023 and goes back for one year. We use a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
Population and income numbers are from the U.S. Census Bureau. Cost of living data comes from the Council for Community and Economic Research.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.
Somewhere between the timeless allure of traditional and the clean lines of contemporary, we find transitional style.
As spaces evolve with modern times, so too does the desire for a balanced blend of the old and new. We’ll delve into the nuances of the transitional design style, an embodiment of sophistication and simplicity, harmoniously woven together.
Keep in mind, transitional style is all about finding that sweet equilibrium, where curated antiques meet minimalist modern, creating a unique and welcoming space that ultimately feels like home. Here’s how you can spot the look in real life and recreate it in your own spaces.
Transitional style 101
What are some basics of the transitional interior design look? Not every transitional space will check every box, but you’re likely to find a medley of the following features.
Neutral color palette: One of the hallmarks of transitional design is a largely neutral color palette. Think beiges, grays, creams and tans, which serve as a base. This doesn’t mean color is absent; rather, pops of color are introduced sparingly through accessories, art and accent pieces.
Clean lines with curved profiles: Furniture in transitional spaces combines the straight lines seen in more contemporary pieces with the curves and detailing of traditional designs. For instance, a sofa might have clean, minimalist lines but be upholstered in a classic fabric or have tufted details.
Mix of materials: You’ll often see a mix of materials in transitional design. This might mean a glass coffee table with an ornate wooden base, or a modern metal light fixture above a traditional dining set. The juxtaposition of these materials creates visual interest.
Texture and fabric: With a neutral color palette, texture plays a big role in transitional style. Think tufted rugs, linen drapes and textured cushions. A variety of fabrics from leather to velvet can be used — in moderation — to bring depth, warmth and drama to any space.
Less ornamentation: Unlike traditional design, which might include heavy moldings or detailed woodworking, transitional spaces tend to be on the simpler side. However, they’re not as stark or minimalist as traditional Scandinavian or Japanese interior design styles.
Art and accessories: Transitional apartments might showcase modern art in ornate frames, or traditional art in sleek, minimalist frames. Accessories, like vases or lamps, should strike a balance between the contemporary and traditional. It’s all about toeing the line between styles without leaning too far in one direction.
Functional and uncluttered spaces: While the look is balanced, transitional design embraces functionality. This means adequate storage solutions to ensure spaces are free of unnecessary items, which is especially important in apartment settings where space may be at a premium.
Natural light: Embracing natural light is key in transitional design. Light and airy window treatments that allow for plenty of sunlight help make the space feel open and welcoming without requiring additional accessories or loud colors.
Area rugs: To define spaces, especially in an open-concept apartment, use area rugs. This helps to visually break up the space while also adding warmth and texture.
Consistency: Even though transitional style is about blending, it’s important to maintain a sense of consistency. This means not every piece in a room should be a mix of modern and traditional. The goal in transitional design is that the room — as a whole — achieves this balance.
Transitional design style in action
If you want to apply the transitional style to your apartment, start with a neutral foundation, incorporate modern and traditional elements carefully and remember to keep it functional and uncluttered. With a keen eye for design and balance, you can create a space that feels equal parts fresh and timeless.
Soft transitional design: a 2023 trend
In 2023, the soft transitional interior design style gained significant popularity for its harmonious blend of traditional and contemporary elements. This style is characterized by its emphasis on creating a warm and inviting atmosphere while maintaining a clean and streamlined aesthetic.
While both soft transitional and OG-transitional interior design styles share common transitional elements, the former distinguishes itself through its heightened emphasis on comfort, a subdued color palette with subtle pops of color and a strong focus on textures that contribute to a warm and inviting atmosphere. With this in mind, you might see more cozy blankets, stacks of pillows, soft textures and more handmade keepsakes to embrace your best “soft life” and remind you of what you value most.
Transitional design: A how-to guide
Transitional style strikes a delicate balance between the timeless elegance of traditional designs and the sleek minimalism of contemporary style. This design approach merges the best of both worlds to create a harmonious space that feels cozy yet sophisticated. For apartment renters, mastering the transitional style can result in a home that is functional and uniquely personal.
Transitional design tips for renters
Need a few starting tips to implement this design in your home? Start by trying a few of these.
Start with the basics: For apartment renters, it’s best to start with the essentials. Invest in key pieces like a versatile sofa, a neutral rug or a functional dining set. These foundational items set the stage for the rest of the decor. With the larger pieces out of the way, you can add small artifacts and accessories over time to fully round out your design and make your place feel fully like home.
Modular furniture: Given the sometimes limited space in apartments, opting for modular furniture can make a big difference. These pieces can be easily rearranged or adapted to fit different spaces, making them perfect for transitional stylists who love to switch things up every few months.
Layered lighting: Lighting plays a crucial role in transitional spaces. Incorporate different light sources – from ambient and task lighting to accent lights. This layered approach not only provides functionality but also adds depth and warmth to the apartment.
Temporary touches: Renters often face restrictions when it comes to permanent changes. But that doesn’t mean you can’t achieve the transitional style. Removable wallpapers, peel-and-stick tiles and adhesive hooks can transform spaces without compromising the apartment’s original state.
Personal artifacts: Just because it’s transitional doesn’t mean it can’t be personal. Integrate family heirlooms, personal artworks or cherished collectibles. These items add warmth to any room and tell a story, making even the most cookie-cutter apartment unit feel like home.
Remember to rely on balance
Transitional style is about balance. It embraces change while respecting tradition. This approach offers apartment renters the flexibility to evolve their decor over time without straying too far from the foundational elements that make their space feel like home. With careful planning and a keen eye for design, any apartment can radiate the effortless elegance of transitional style.
Traditional and modern meet in transitional design
The beauty of transitional style lies in its innate ability to resonate with a wide range of audiences. It’s a symphony of eras, harmonizing the classic charm of traditional pieces with the sleek essence of contemporary design. As we’ve explored in this article, mastering this style isn’t about strict rules or rigid definitions; it’s about embracing fluidity, adaptability and a keen eye for balance.
As spaces continue to evolve and reflect the multifaceted personalities of their inhabitants, transitional style stands out as a testament to timelessness, bridging the past and the present in an expertly choreographed dance of design perfection.
Still looking for that perfect space to showcase your style? Browse our available apartments for rent here.
A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.
Many people are lured into the world of real estate investing by stories of millionaires who started their journey with no money down or no steady employment. But the reality is that making money in real estate isn’t easy; a good credit score, investment capital and steady income can help in the beginning.
You’ll also need to grasp the nuances of the local real estate market and learn how to manage financial aspects such as cash flow and property taxes. While real estate buying, selling, and renting may not be much like a game of Monopoly, it is possible to earn steady side income, supplement your retirement, or even build a full-time real estate investment business with the right tools, knowledge, and patience.
Unlike mutual funds, the stock market, cryptocurrency or many other investments, real estate is tangible. Real estate is a concrete asset—one can see, touch, and even reside in. That gives investors a sense of security. However, it also creates unique challenges.
Managed well, the stability and passive income from rental properties can be a safety net against more volatile investments.
This guide is here to clarify the process for beginners. It aims to empower you to make informed decisions, reduce risks, and lay a strong foundation for your real estate investing journey.
Benefits of Investing in Real Estate
The allure of real estate goes beyond the mere ownership of tangible assets. It presents a robust suite of financial benefits that have the potential to amplify wealth and provide stability in uncertain times. As we navigate the advantages, it becomes evident why many seasoned investors prioritize real estate in their portfolios.
Steady and Passive Income
Real estate investing, especially in rental properties, stands out for its potential to provide a consistent revenue stream. When you own a rental property, the monthly or quarterly distributions from tenants contribute to steady income, which can safeguard your finances against unexpected events or economic downturns.
This consistency contrasts with the often erratic nature of the stock market, which can fluctuate daily based on global events, company performances, and other factors. Additionally, for those aiming to attain financial freedom, the passive income generated from real estate can be a step closer to achieving that goal. Over time, as the mortgage payment decreases or remains static, rental rates may rise, increasing your monthly cash flow.
Appreciation Potential
Every investor dreams of their assets appreciating, and real estate often doesn’t disappoint. While there can be periodic downturns in the real estate market, historical trends suggest that properties generally gain value over the long run.
This means that not only can investors benefit from rental income, but they can also potentially see substantial gains when they choose to sell the property.
Tax Benefits
Navigating the world of taxes can be intricate, but real estate investors often find several advantages here. The ability to deduct mortgage interest and property taxes from taxable income can be a significant financial boon.
Furthermore, strategies like depreciation allow real estate investors to offset rental income, reducing their tax burden. Consulting with a financial advisor can help investors maximize these benefits and understand other potential tax advantages, such as 1031 exchanges or deductions related to property management.
Diversification
The saying “don’t put all your eggs in one basket” is sound investment advice. Diversification is a fundamental strategy to mitigate risks. By adding real estate to an investment portfolio, investors introduce a separate asset class that doesn’t directly correlate with the stock market or mutual funds. This can provide a buffer, ensuring that a downturn in one sector doesn’t wholly derail an investor’s financial trajectory.
Leverage
Leverage, in the context of real estate investing, refers to the ability to use borrowed capital to increase the potential return on an investment. When you purchase property with a mortgage loan, you’re often putting down only a fraction of the property’s total cost, while still reaping the benefits of its entire value in terms of appreciation and rental income.
This magnifies the return on investment, as the gains and income generated are based on the property’s total value, not just the down payment. It’s a powerful tool but should be used wisely. Over-leveraging or not accounting for potential rental vacancies can turn leverage into a double-edged sword.
Types of Real Estate Investments
As one dives deeper into the world of real estate, it becomes evident that this asset class is multifaceted, with various avenues to explore and invest in. The right choice often depends on an investor’s goals, risk tolerance, budget, and expertise. Here’s a closer look at some prominent types of real estate investments:
Residential Properties
Residential properties cater to individuals or families. They range from single-family homes to duplexes, triplexes, high-rise buildings with apartments, and other multi-unit properties. You may encounter the term “MDU” or “MUD,” which stand for multi-dwelling unit or multi-unit dwelling, to describe anything more than a single family home, or SFR (single family real estate).
Investing in residential real estate, especially the SFR market, is often a beginner’s first step due to its familiarity and the perpetual demand for housing. While these properties can be a reliable source of rental income, investors should be prepared for the challenges tied to property management, tenant turnover, and ongoing maintenance.
Commercial Real Estate
When one thinks of skyscrapers lining city horizons or sprawling office parks in suburban locales, that’s commercial real estate. These properties are tailored to businesses, and can include complete corporate headquarters or individual offices.
Commercial leases often run longer than residential ones, offering the potential for stable, long-term rental income. However, the entry point can be higher, with larger down payments and a more extensive due diligence process. Additionally, commercial real estate values can be closely tied to the business environment of the locality.
Industrial
Industrial real estate encompasses properties like warehouses, distribution centers, and manufacturing facilities. They’re integral to business operations, ensuring products move efficiently from manufacturers to consumers.
Investing in this sector can offer substantial rental yields, especially if the property is strategically located near transportation hubs. However, the nuances of industrial real estate, such as zoning laws and environmental concerns, necessitate a more in-depth understanding than residential or commercial sectors.
Retail
This sector includes shopping malls, strip malls, and standalone stores. What’s unique about retail real estate is that leases sometimes include a provision where the landlord gets a percentage of the store’s profits, termed as “percentage rent.”
In a thriving commercial area, retail properties can be quite profitable, with long-term leases and the potential for appreciating property values. However, investors should be mindful of shifts in consumer behavior and the evolving retail landscape, especially with the rise of e-commerce.
Multi-Purpose Commercial
A new breed of commercial real estate has emerged to compete with the growth of e-commerce. Multi-purpose commercial spaces blend housing units with office space and retail, often adding hospitality and entertainment venues.
Typically, these spaces are the domain of large real estate investment and property management firms. But if you invest in commercial office space or retail, you will be competing with these multi-purpose properties for tenants, so they are worth acknowledging.
Real Estate Investment Trusts (REITs)
For those not keen on direct property ownership, REITs present an attractive alternative. These are companies that own, operate, or finance income-producing real estate across various sectors. What makes REITs distinctive is that they’re traded on stock exchanges, similar to stocks.
By investing in a REIT, you’re buying shares of a company that manages a portfolio of properties, thus gaining exposure to real estate without the hassles of property management. Moreover, by law, REITs are required to distribute at least 90% of their taxable income to shareholders, leading to potentially attractive dividend yields. However, it’s essential to remember that like all publicly traded entities, REITs can be subject to market volatility.
9 Ways to Invest in Real Estate
Investing in real estate can seem tricky for beginners. But, with time and patience, anyone can master it. Focus on simple investment methods first to get to know your local property scene, meet experienced investors, and learn how to handle money wisely. As you learn and grow, you can dive into more complex investment options.
Here are some great ways for beginners to start in real estate:
1. Wholesaling
Acting as the bridge between property sellers and eager buyers, this method primarily focuses on securing properties at a rate below the prevailing market value. The secured contract is then transferred to an interested buyer, ensuring a margin for the wholesaler.
2. Prehabbing
Unlike intensive property renovations, prehabbing is about amplifying a property’s appeal through minimalistic enhancements. These properties, once given their facelift, usually attract investors with a keen eye for larger renovation projects.
3. Purchasing Rental Properties
An avenue promising consistent returns, this involves acquiring properties to lease them out. For those not inclined towards the intricacies of landlord duties, there’s always the option of hiring seasoned property management professionals.
4. House Flipping
A strategy that has garnered significant attention, house flipping involves a cycle of purchasing, upgrading, and promptly reselling properties, aiming for a profit. The emphasis is on swift transactions and keen market acumen.
5. Real Estate Syndication
Envision a collective where like-minded investors come together, pooling both resources and expertise. Such collectives venture into large-scale property acquisitions, and the ensuing profits or rental incomes are distributed among the participants.
6. Real Estate Investment Groups (REIG)
Primarily, these are conglomerates that steer their operations around real estate investments. By amassing capital from a plethora of investors, they dive into acquisitions of sizeable multi-unit residences or commercial holdings.
7. Investing in REITs
Real Estate Investment Trusts (REITs) revolve around the ownership and meticulous management of properties that yield income. However, investors don’t have to handle the management themselves. Instead, participants can relish the benefits of the real estate sector without the responsibilities of direct property ownership.
8. Online Real Estate Platforms
A fusion of technology with real estate, these platforms seamlessly connect potential investors with vetted property developers. This synergy enables backers to finance promising property ventures and, in exchange, enjoy periodic returns that encompass interest.
9. House Hacking
A blend of homeownership and investment, house hacking is about maximizing the potential of a multi-unit property or a single-family home. Investors live in one segment while leasing out the remaining portions. This dual approach can significantly reduce or even negate monthly housing expenses, serving as an excellent introduction to the world of property management for novice investors.
6 Steps to Get Started in Real Estate Investing
Starting on the path of real estate investing requires careful planning, due diligence, and a methodical approach to ensure that your investments are sound and have the potential for fruitful returns. Whether you’re dreaming of becoming a millionaire real estate investor or merely looking to diversify your investment portfolio, following a structured process can be the key to success. Here’s a step-by-step breakdown:
1. Assess Your Financial Health
Every investment journey should begin with introspection. As an aspiring real estate investor, it’s essential to have a clear understanding of your current financial standing. Ask yourself questions like:
How much capital am I willing to invest?
What are my short-term and long-term financial goals?
Do I have an emergency fund set aside?
Evaluating your risk tolerance is equally crucial. Some might be comfortable flipping houses, while others might prefer the steadiness of rental properties. Consulting a financial advisor at this stage can provide insights tailored to your financial health, enabling you to make informed decisions as you proceed.
2. Dive Deep into Market Research
Knowledge is power in the world of real estate. The local market can be significantly different from national or even statewide trends. Delve deep into understanding:
The demand for rental properties in your target area.
The average property values and rental rates.
The historical appreciation rates.
Any upcoming infrastructure projects or urban development initiatives.
Furthermore, familiarize yourself with real estate terminology. Phrases like “cap rate,” “loan-to-value,” and “operating expenses” will become a regular part of your vocabulary. The better informed you are, the more confidently you can navigate your investments.
3. Assemble Your Real Estate Team
No investor is an island. Success in the real estate business often hinges on the strength and expertise of your team. Look for professionals with a proven track record and positive reviews. Your team might include:
Real estate agents who understand the investor’s perspective.
Property managers to streamline tenant interactions and maintenance.
Lawyers specializing in real estate transactions.
Accountants familiar with the tax implications of real estate investments.
4. Explore Financing Options
The path to acquiring a property is paved with various financing methods. Traditional mortgages are common, but the real estate industry offers other mechanisms like:
Hard money loans.
Private money loans.
Real estate syndication where multiple investors pool resources.
Seller financing.
Each of these has different pros and cons, interest rates, and repayment terms. Understand each deeply to determine which aligns best with your financial strategy.
5. Analyze Potential Properties
The crux of real estate investing is ensuring that the numbers make sense. Before purchasing, assess the property’s potential for generating rental income. Break down:
Monthly mortgage payments
Property taxes
Maintenance costs
Potential vacancy rates
Your goal should be a positive cash flow, where the monthly income from the property (rent) exceeds all these expenses.
6. Negotiate and Close the Deal
Once you’ve zeroed in on a property, the negotiation phase begins. Here, understanding the property’s market value, any existing damages or repair needs, and the local real estate market dynamics can give you an edge.
When it comes to closing, be aware of all associated costs. These might include inspection fees, title insurance, and escrow fees. Being well-informed can help you negotiate these fees and ensure that you’re not overpaying.
Risks and How to Mitigate Them
Like any investment, real estate comes with its set of challenges and uncertainties. The difference between successful real estate investors and those who falter is often the ability to anticipate risks and prepare for them. Here’s an exploration of some prevalent risks in real estate and actionable steps to manage them:
1. Market Fluctuations
Real estate markets can be volatile, with property values rising and falling based on a myriad of factors.
Mitigation: To protect against market downturns, it’s essential to buy properties below their market value. Conducting comprehensive research and seeking expert investment advice can help investors make informed decisions. Remember, real estate is often a long-term game, so a short-term dip can be offset by long-term appreciation.
2. Unexpected Repairs and Maintenance
Properties can often come with surprises, from plumbing issues to roof repairs.
Mitigation: Regular property inspections can catch potential problems before they become major expenses. Setting aside a buffer fund specifically for maintenance can also cushion the financial blow of unforeseen repairs.
3. Vacancy Periods
There might be periods where your property remains unoccupied, leading to loss of rental income.
Mitigation: Properly vetting and building a good relationship with tenants can lead to longer lease periods. Diversifying your investment properties across different areas can also help, as vacancy rates might vary from one location to another.
4. Legal and Tax Implications
Real estate investors can sometimes find themselves entangled in legal disputes or facing unexpected tax bills.
Mitigation: Regular consultations with a tax professional or attorney familiar with the real estate industry can keep investors informed and protected.
Long-term Strategy and Growth
Real estate investing is not just about making a quick buck; it’s about building lasting wealth. Adopting a long-term perspective and continuously refining your strategy can pave the way for consistent growth in the real estate industry. Here’s how:
1. Define Your Real Estate Identity
Are you more comfortable with a buy-and-hold strategy, where properties are retained for long-term growth and steady rental income? Or do you thrive on the excitement of flipping houses, where properties are bought, renovated, and sold for profit? Understanding your preference can help tailor your investment strategy.
2. Reinvestment is Key
For those adopting a buy-and-hold strategy, reinvesting the rental income can substantially grow your real estate portfolio. By channeling profits into purchasing additional properties, investors can benefit from compounded growth.
3. Diversify Your Portfolio
As you gain experience, consider diversifying across various real estate sectors. Branching out into commercial real estate or exploring real estate investment trusts (REITs) can provide additional avenues for income and growth.
4. Continue Your Education
The real estate industry is continually evolving. By staying updated on market trends, attending seminars, and networking with other real estate professionals, you can adapt your strategy and seize new opportunities as they arise.
5. Scale Strategically
A real estate empire begins with just one property. With time, dedication, and a sound strategy, it’s possible to grow your holdings into a substantial full-time income. As you scale, ensure you’re not overextending; always prioritize the quality of investments over quantity.
Key Tips for Beginners
Embarking on a journey into real estate investing can be thrilling, yet the complexities of the industry can sometimes overwhelm beginners. Simplifying the learning curve is essential for novice investors to make informed decisions and find success. Here are some pivotal tips to guide those just starting out:
1. Start Small and Scale Gradually
Many millionaire real estate investors began their journey with a modest property. Purchasing a smaller, more manageable property as your first investment can help you navigate the nuances of the real estate business without being overwhelmed. As you gain confidence and experience, you can then venture into bigger and more diverse properties to scale your portfolio.
2. Prioritize Education
The world of real estate is vast and ever-evolving. Leverage online real estate platforms to learn about market trends, investment strategies, and financing options. Additionally, joining real estate investment groups can be invaluable. These groups not only provide mentorship but also offer opportunities to share resources, insights, and deals with other investors.
3. Location is Crucial
In the real estate realm, location often takes precedence over the type or condition of a property. A mediocre house in a prime location can fetch better returns than a grand mansion in a less desirable area. Research local market dynamics, neighborhood amenities, future development plans, and other location-specific factors before making an investment decision.
4. Networking is Key
Surrounding yourself with knowledgeable people can fast-track your learning process. By connecting with seasoned real estate investors, you can gain insights from their experiences, avoid common pitfalls, and even discover potential partnership opportunities. Attend local real estate seminars, join investor forums online, and participate actively in real estate conferences to grow your network.
5. Stay Updated and Adapt
The real estate industry is not static. Market conditions, property values, and investment strategies can change. Being adaptable and staying updated on industry trends will ensure you remain ahead of the curve and can capitalize on new opportunities.
6. Always Conduct Due Diligence
Before diving into any real estate transaction, thorough due diligence is imperative. From understanding property taxes and zoning laws to estimating potential repair costs and evaluating tenant profiles, leaving no stone unturned will protect you from potential setbacks.
8 Terms Beginner Real Estate Investors Should Know
Venturing into real estate can feel like you’ve entered a world with its own language. Don’t worry; everyone feels this way at the start. Knowing basic real estate terms can help you communicate confidently and make informed decisions.
Dive into these essential terms every beginner should grasp:
Appreciation: Appreciation is the increase in the value of a property over time. It’s one of the primary ways real estate investors make money, especially in growing markets. Appreciation can result from factors like inflation, increased demand, or improvements made to the property.
Capitalization rate (cap rate): Think of the cap rate as a tool to gauge the potential return on a property. It’s a percentage derived from comparing a property’s net operating income to its current market price.
Cash flow: This term captures the money dance – what’s coming in and what’s going out. In the context of rental properties, it means the rental earnings minus all the costs. Positive cash flow indicates you’re earning more than you’re spending.
Equity: Equity represents the value of ownership in a property. It’s calculated by taking the market value of the property and subtracting any outstanding mortgage or loans against it. As an investor pays down their mortgage or if the property appreciates in value, their equity in the property increases. This equity can be tapped into for various financial needs or reinvested.
Leverage: This term refers to the concept of using borrowed money, often in the form of a mortgage, to invest in real estate. It allows investors to purchase properties with a small down payment and finance the remainder. When used correctly, leverage can amplify returns, but it can also increase the risk if property values decline.
Net operating income (NOI): Simplified, NOI is the profit made from a property after deducting all operational costs. It’s your rental income minus all the expenses, showing the true earning potential of a property.
Real estate owned (REO): An REO property is one that didn’t sell at a foreclosure auction and is now owned by the bank. These properties are often sold at a lower price because banks aim to sell them quickly, making them attractive to investors.
Return on investment (ROI): In simple terms, ROI measures the bang you get for your buck. It’s calculated by comparing the profit you made to the amount you invested. The higher the ROI, the better your investment performed.
Conclusion
Real estate investing offers an avenue to diversify your portfolio, generate steady income, and potentially achieve long-term growth. With due diligence, a clear strategy, and the right team, beginners can successfully navigate the complexities of the real estate industry and lay the foundation for a prosperous investment journey. Remember, every millionaire real estate investor started with their first property. Your journey is just beginning.
Whether you’re a minimalist to the core or simply like things neat, a minimalist desk setup offers incredible advantages on the mental and material plane. Minimalist principles are, in essence, about conscious decision-making and living a purpose-driven life.
It’s understanding what resonates with you on a very personal level, what brings more beauty and joy to your life and what is just taking up space. As The Minimalists eloquently state, “Minimalists search for happiness not through things, but through life itself.”
Your workstation is the perfect backdrop for embracing this philosophy. After all, do you really need 25 different writing utensils, three notebooks, every-color-in-the-rainbow sticky notes and pictures of friends you last saw in high school? Yes? If they bring you joy, then keep them, by all means!
Once you’ve decluttered, cleaned and streamlined, you can create a space for the things that matter the most. And, in the process, you’ll not only clean your desk but your mind as well.
Let’s explore the neuroscience behind having a clean desk and the 15 minimalist desk setup ideas to help you get there.
Clearing your workstation — clearing your mind
Numerous studies in Harvard Business Review confirm what you innately know: clutter affects your productivity while increasing stress and anxiety. How many times have you wasted precious minutes searching for a document in a pile of papers, growing increasingly agitated? As a human, probably many. Life gets busy, and cleaning the desk gets buried in the pile of the many “to-do’s.”
These studies also prove clutter’s negative effect on the ability to focus, distracting you from your best intentions. It can even increase the tendency to snack on junk food. With that in mind, let’s tackle your desk and create a minimalist desk setup one step at a time.
1. Get a fresh start
To create a desk that leaves you inspired, you need to start with a fresh, clean slate. Remove everything and put it in a box or two. If you need more than two boxes, well, we’ll discuss that later.
2. Choose the right desk
For some, creating a minimalist desk setup may require a new desk. Fortunately, today’s designs offer simple solutions that can replace big, bulky and uninspiring models. Consider wall-mounted desks that free up space while creating a clean, uncluttered look. Some even double as bookshelves or fold down from the wall for optimum aesthetics.
A simple desk with room for a set of drawers or filing cabinets underneath gives you the space you need to keep your desktop clean and clear.
3. Approaching the minimalist mindset for desk setups
Before indulging in the dividers and shelves that can help you maintain order, it’s time to inspect your belongings. If you’re a “things” person, this activity can be a little challenging. Put on some soft jazz or music with nature sounds and get into your Zen zone. Then, put each item you pick up into a keep, toss or give-away pile.
Remember, the minimalist mindset is based on the theory that “less is more.” Everything you own either serves a purpose or contributes to your peace of mind. Imagine every item you let go of reducing stress, increasing productivity and enhancing your life. Ask questions like, “Do I need this? Does it add beauty? Does it bring joy? “
Do you know that some minimalists have paired down their belongings to less than 100 items? That’s everything — clothes, shoes, furniture and pens. Hard to imagine, right?
4. Stick on an under-desk drawer
Drawers are extremely helpful in maintaining a clutter-free desk zone. If you don’t have drawers, a simple solution is self-adhesive under-desk drawers. Add drawer organizers to ensure every item has a place to call home.
The idea is to keep as much as possible off your desk. A minimalist desk setup typically consists of your computer, a lamp and maybe a picture or plant. Pairing down to that level makes you look at each item you own through the lens of value and love.
5. Do away with wires
Wires have no place in a minimalist desk setup. Fortunately, we live in a wireless world! Consider getting a wireless mouse and keyboard. If some wires must remain, a cable management tray or backside wire organizer can help keep your desk and floor uncluttered.
6. Create space with a desk organizer
For some people, opening a drawer whenever they need a pen, scissors or notepad can suck the joy right out of their clutter-free desk. If you can relate, a desk organizer adds a little more “stuff” to your desktop but puts everything you use every day in easy reach.
These hold your essentials, with some including a special place for your smartphone. You can also select organizers that align with your design, whether made out of mesh, wood or bamboo.
7. Use understated design elements
Some minimalists consider an all-white color scheme the best approach. However, neutral colors can bring the natural world indoors and add a nice design element. Ideally, keep the color palette monochromatic with varying shades of the same hue. Colors to consider include natural wood tones, blue, gray, taupe and soft green.
From desks to storage cabinets, a minimalist desk setup considers natural materials, a simple design and straight lines.
8. Go paper free
Going paperless is one of the best ways to achieve a minimalist desk setup. And thanks to today’s digital world, it’s possible! Receipt and paper scanners let you store important documents on your computer, backing them up to an external drive or cloud storage service. Note-taking apps rid your space of Post-it notes, and digital to-do lists keep your life organized.
9. Optimize light
The right lighting improves productivity and enhances your workspace. Adjustable task lighting is ideal for your desk, illuminating the activity at hand. Consider LED desk lamps with a swing arm and adjustable temperature and brightness settings. The most important consideration? Make sure you love it.
10. Add life to your minimalist setup
One or two plants add life and beauty to your space. We care for them, and, in turn, they care for us. Numerous studies show their many health benefits include improving air quality, increasing feelings of well-being, reducing stress and improving concentration. Plants shown to improve the air include spider plants, Boston ferns and bamboo palms.
11. Enjoy an artistic touch
One breathtaking painting or beautiful nature scene can refresh your senses and improve your mental outlook. From a tropical waterfall to endless waves or mountain peaks, choose an image that inspires you.
12. Add a cabinet
We know minimalism is more about subtracting than adding. However, to keep things off your desk requires a place to put them. Not all of us can pair down to 100 items! A small, streamlined upper cabinet with two or three shelves creates a space for books, journals, inspiring quotes and photos.
You can ensure it blends in with your design by choosing bamboo, wood or metal units and sticking to the same color scheme. You can even use wire shelves for an industrial look. Consider ones with doors if you want to retain the ultimate minimalist decor.
13. Hang a shelf above your desk
One simple shelf above your desk gives you the space you need to keep everything off your desk. This solution is ideal for smaller desks and if you have a creative muse who enjoys vision boards, writing and drawing. In one quick maneuver, the few items on your desk can transfer to the shelf, giving you the space to create.
14. Install a vertical shelving unit
A thin vertical shelving unit tucked next to the desk in a corner wall offers a space for color-coordinated baskets, a few books and a plant. Choose square wicker baskets that slide right into the shelf and look like they belong.
These can hold your current projects in organized files for easy access. Consider placing a philodendron plant on the top shelf, letting it cascade down, bringing a touch of greenery.
15. Sit comfortably
While standup desks are growing in popularity, thanks to the phrase, “Sitting is as bad as smoking,” many people still prefer to sit at their desks. Minimalist desk chairs follow the monochromatic rule and blend in with your chosen design. They are also simple (instead of big and bulky), comfortable and ergonomically designed. Popular options include those with wooden legs.
The minimalist approach to desk design
Minimalism is all about functionality. It’s ridding yourself of chaos and embracing a simpler lifestyle where everything has a purpose and a place. Start with decluttering, then use these tips and tools to create a minimalist desk setup. Who knows? Your entire apartment may become a minimalist zone.
Still looking for a rental space to optimize your work and life? Take a look at our available apartments for rent.
Nestled in the heart of Utah Valley, Provo has increasingly been a topic of discussion for those looking to relocate.
Known for its close proximity to natural wonders like Provo Canyon and Utah Lake, it’s a location that offers both city life and natural retreat. However, with such growing attention, the question arises: Is Provo, Utah, a good place to live?
Geographic overview
Provo, located in Utah County, sits about 45 miles south of Salt Lake City. As part of the larger Provo-Orem metro area, it’s surrounded by breathtaking views, notably the majestic Wasatch Front mountains. The city enjoys a beautiful position by the Provo River, leading many to the popular Provo River Parkway Trail for outdoor activities.
Educational excellence: BYU and beyond
Central to Provo’s identity is Brigham Young University (BYU). As one of the top institutions in the country, BYU has significantly influenced Provo’s status as a college town. The presence of BYU means Provo is bursting with educational opportunities, from lectures at the BYU Museum and Bean Life Science Museum to events at the BYU campus itself.
Quality of life in Provo
Economic, cultural and safety factors drive movers to Provo in droves.
Economic stability
Provo’s unemployment rate is below the national average. The presence of institutions like BYU and the Provo City Center Temple ensures steady employment in the education and service sectors. Additionally, with a tech boom happening in the broader Salt Lake Valley, many are finding new job opportunities within a commutable distance from Provo.
Cultural richness
Provo is home to a rich blend of cultures. While there is a significant presence of members of The Church of Jesus Christ of Latter-day Saints, Provo is diverse in thought and lifestyle. The city houses several art galleries, theaters, and the iconic Provo City Center Temple, a testament to its rich history and cultural significance.
Safety
One of the notable features of living in Provo is its low crime rates. Both violent crimes and property crimes are below the national average, making Provo a safe environment for young families and college students alike.
Cost of living: breaking down the numbers
Is Provo Utah expensive to live in? Compared to other cities along the Wasatch Front, Provo’s cost of living is slightly below average. However, with the city’s growth, housing costs have been on the rise.
Housing market insights
The median home price in Provo has seen an upward trend over the past few years, though it remains competitive compared to Salt Lake City. Average rent for apartments is also reasonable, particularly given the high student population from BYU and Provo College. However, the demand for affordable homes has been steadily increasing.
Everyday expenses
When comparing Provo’s cost for groceries, transportation, and healthcare to the national average, residents find it reasonable and often below average. However, as with any city, certain luxuries or non-essentials can drive up living costs.
The heart of Provo: its people
With a population density of around 2,500 people per square mile, Provo is lively without feeling overcrowded. The median age skews younger, thanks in part to the influx of college students. Provo residents are generally known for their hospitality, community spirit and active lifestyles, taking advantage of nearby attractions like Provo Beach and Rock Canyon.
Before you pack: Moving to Provo insights
What do I need to know before moving to Provo Utah? Here are some considerations:
Outdoor Activities: With Provo River, Provo Canyon, and myriad trails, there’s always something to do outdoors. Whether you’re into hiking, fishing, or just picnicking, Provo has you covered.
Community Feel: Provo, often dubbed “Happy Valley”, has a tight-knit community. Neighbors often become lifelong friends, and community events are frequent.
Religious Considerations: As mentioned, Provo has a substantial Mormon population. While this brings a unique cultural flavor, it’s essential to be respectful and understanding of religious practices and holidays.
Public Transportation: The bus system in Provo is reliable, but having a car might be convenient for broader exploration and commuting.
Final verdict
Living in Provo offers a harmonious blend of city life and nature, academia and culture, community and individuality. With its reasonable cost of living, low crime rates and opportunities for both personal and professional growth, Provo stands out as one of the best cities in North Central Utah. Whether you’re a student at Brigham Young University, a young family looking to settle or anyone in between, Provo provides a backdrop for memories, experiences and growth.
In the balance of life’s considerations, the essence of Provo UT seems to be this: it’s more than just a city — it’s a community, an experience, and, for many, it’s home.
So, to the question, “Is Provo Utah a good place to live?” the answer resounds as a confident “Yes!” Search our Provo apartments for rent.
Nestled in Hidalgo County, the small city of Alamo, Texas, often emerges as a discussion point among people on a quest for a serene yet promising locale to call home.
The quaint charm often associated with smaller cities can sometimes transcend beyond the picturesque to also offer a quality of life that rivals, or in some instances, surpasses the bustling allure of much larger cities.
This comprehensive assessment dives into the various factors that encapsulate living in Alamo, Texas, with a thorough examination of its cost of living, demographics, amenities and proximity to other significant Texan hubs, ultimately aiming to answer the burning question: “Is Alamo, Texas, a good place to live?”
Demographics and community
The community within Alamo, TX is a reflection of the broader Rio Grande Valley’s demographic composition. With a population that hovers around the 19,000 mark, the town hosts a predominantly Hispanic populace. This cultural backdrop lends Alamo a unique blend of Texan and Mexican traditions, which not only enriches the social fabric but also manifests in the culinary, cultural and artistic offerings of this small city.
Economy and employment
A scrutiny of Alamo’s economic landscape reveals an unemployment rate slightly above the national average. However, this metric has been on a downward trajectory, thanks to burgeoning local businesses and the spillover of economic activities from neighboring cities. The median income in Alamo resonates with the laidback and modest lifestyle it champions.
Cost of living
One of the enticing facets of living in Alamo, Texas, is undoubtedly its cost of living. Statistically, Alamo’s cost of living indices fall below the national average, making it an affordable place especially when pitted against other cities in Texas.
The low cost of living can be largely attributed to the affordable housing market in the city, with the median home value significantly less than the state and national averages. Alamo’s cost of housing and overall living expenses are arguably its biggest selling point to prospective residents on a budget.
Housing market
In Alamo, the median home value stands as a testament to its affordability. Housing here is not only accessible but offers a variety of choices for different income levels. Whether you are looking to rent or buy, the market in Alamo is conducive for families, retirees and even single individuals. The median home value is appreciably lower compared to other cities, making homeownership a feasible dream for many.
Education
Education is a pivotal concern for families contemplating a move to Alamo, TX. The city hosts several public and private schools, delivering a standard of education that aligns with the state’s benchmarks. The proximity to universities and colleges in nearby cities also broadens the educational horizon for residents.
Healthcare and services
Quality healthcare services are within reach, with a number of healthcare facilities located in and around Alamo. The nearby city of McAllen, for instance, has a wider array of medical facilities, ensuring residents have access to specialized medical care whenever necessary.
Proximity to major cities
Nestled strategically in the Rio Grande Valley, Alamo’s location is within a convenient distance from major cities like McAllen and Edinburg. This proximity not only opens up a world of additional amenities and services but also employment opportunities for the residents of Alamo. Moreover, the accessibility to international borders with Mexico enhances the city’s appeal to a more global-minded populace.
Recreation and lifestyle
The lifestyle in Alamo leans towards the tranquil and family-oriented. Numerous parks, recreational facilities and community events held throughout the year contribute to a sense of belonging among residents. The close-knit community vibe is often cited in reviews as one of the endearing qualities of living in Alamo.
Crime and safety
The crime rate in Alamo is comparable to other small towns in Texas. The local law enforcement agencies are active and the community itself is known for its neighborly ethos, which contributes to the overall safety and peaceful living conditions in the city.
Conclusion
The allure of Alamo, Texas lies in its simplistic yet fulfilling lifestyle, far removed from the hustle and bustle synonymous with bigger cities. While it might lack some of the flashy amenities, its affordability, community-centric lifestyle and the promise of a serene living environment make it a compelling choice for individuals seeking a harmonious work-life balance.
However, as with any city, prospective residents should be aware of the economic conditions and be prepared for a lifestyle more serene and traditional compared to urban hubs like Austin or Houston. Looking for your Alamo dream home? Take a look at our available apartments for rent here.
I’ve been trying to avoid writing about this subject for a week or two now, mainly because it’s so controversial, so overanalyzed, and really hard to sum up in one neatly edited post on this website.
Aside from that, one’s opinion of the mortgage interest deduction will surely be swayed by whether or not they own a home, if they have a mortgage on said home, how much money they make, if they itemize deductions, if they’re a realtor or a homebuilder, and so on.
But first a little background on the mortgage interest deduction, known as the MID.
Currently, homeowners are able to deduct mortgage interest on both primary residences and second homes, just as they are real estate property taxes.
However, in order to take advantage of the MID, homeowners must itemize their deductions, and those deductions must exceed the standard deduction to actually benefit the homeowner.
Secondly, there are caps on the MID – only the first $1 million of home acquisition debt is deductible ($500,000 if married and filing separately).
And for home equity debt, only the first $100,000 is deductible. There are a lot of finer details, but I don’t want to derail the conversation into complicated tax topics. Save that for your CPA.
What the Mortgage Interest Deduction Costs
Now let’s talk about cost. The MID is reportedly the largest deduction in the tax code, accounting for $470.4 billion in tax deductions in 2008, per the Reason Foundation.
In 2008, itemized tax deductions totaled $1.26 trillion, with 36% of that total coming from the mortgage interest deduction.
Put simply, the MID costs the government billions upon billions each year, maybe even close to $100 billion in lost revenue annually.
For this reason, the MID has a giant target on its back, as the government scurries to balance their books before the impending fiscal cliff.
By the way, the Reason Foundation is decidedly against the MID, and actually believes it should be eliminated entirely.
Who Benefits and Who Doesn’t?
Not everyone enjoys the widely beloved tax break. In fact, only a small subset of the population can take advantage of it.
Obviously, those who rent apartments or homes see no benefit. And those who have already paid off their mortgages, but own, see no benefit, at least, not anymore.
Additionally, those who are close to paying off their mortgages see little benefit, as interest is front-loaded on mortgages, so savings are mainly experienced early on.
Interestingly enough, those who opt for interest-only mortgages or serially refinance their mortgages benefit the most from this deduction.
So one could argue that those who actually strive to pay off their mortgages don’t stand to benefit as much from the MID.
On top of that, only about 33% of taxpayers itemized their deductions in 2009, and of those, 20% did not take advantage of the mortgage interest deduction, per Reason.
As you can see from their tax table above, young wealthy homeowners stand to benefit the most from the MID.
In short, they’ve got the biggest mortgages, the highest tax bracket, and pay the most interest as a percentage of their total mortgage payment because their loans are so fresh.
Artificially Inflated Home Prices?
The Reason Foundation cites three main reasons why they are against MID, including the argument that it doesn’t increase homeownership, that it promotes the use of mortgage debt, and inflates homes prices.
Of course, their mid-2011 study is well-timed, considering the horrendous housing crisis that took flight just years earlier, effectively wiping out recent homeownership gains.
The Reason researchers also dispel the myth that getting rid of it would reduce home prices by as much as 15%, a claim made by the National Association of Realtors.
Instead, they believe it only props up prices by three to six percent. The disparity reflects including homes at all price points, not just higher priced homes.
But that’s still no incidental number.
There are a ton of figures and well-groomed stats out there, all of which serve different agendas.
If you look at the National Association of Realtor’s website, they’ll tell you that 65% of homeowners who claim the MID make less than $100,000.
They’ll also tell you that repealing the MID is a tax increase, which will hurt families with children the most.
And that homeownership leads to cleaner communities, better educated children, less crime, etc., etc.
For the record, NAR is one of the biggest supporters of the MID, largely because it makes home buying more attractive, which real estate agents tend to like…last I checked.
Or take the National Association of Home Builders, who argue that the MID has been in the tax code for nearly 100 years.
Why would it all of a sudden need to be purged from tax policy? Surely we’ve balanced budgets before.
Is Now the Time to Tinker?
Clearly there are some decent arguments for making changes to the mortgage interest deduction, which effectively subsidizes housing, but you have to wonder if right now is the time to meddle.
In case you hadn’t noticed, the housing recovery is far from “for real,” and just one wrong turn can set off a whole other downturn.
There have been several proposals for changes to the MID, including a lower cap at say $500,000 instead of $1 million and/or a tax credit, or the elimination of the deduction for second homes and HELOCs.
While all the plans may have merit, they all come with consequences as well, including near-term, unknown damage to the housing market.
In other words, the changes might be bad for home prices now, but ideally good for them later, especially if the economy is healthier.
The question is whether the housing market can stomach such a change at the moment, at a time when the government is doing all it can to prop up sagging prices.
Heck, the housing market isn’t exactly humming along, even with the intense manipulation of mortgage rates.
And if the MID is messed with now, and results in lower home prices, even if less severe than the doomsayers fear, the result could still be material.
We’re talking millions of homeowners who just got above water grabbing for their snorkels again, or just giving up and mailing in the keys.
Even if changes to the MID target the wealthy, they could have far-reaching unintended consequences that affect homeowners at all price points.
For example, a retiree with no mortgage would feel the brunt when it came time to list their home…for less.
And middle-class homeowners in pricier metros throughout the nation would have less incentive to buy than rent, despite everyone thinking, “they’re rich anyway.”
There’s also the emotional loss of the MID, which could scare away prospective buyers, even if they didn’t stand to lose anything at all.
To sum it up, the hope is that whatever changes do come are gradual and well conceived, as to not set off another firestorm in the housing market.
With theme parks, beautiful year-round weather and sparkly beaches, Orlando is a destination in Florida. It’s touristy, though, nearly 60 million people visited in 2021. That’s a lot of floral shirts, iPads taking photos and fanny packs.
Finding an Orlando local is like finding a needle in a haystack, but they exist. And, they know the real Orlando inside and out, from the alligators to how to avoid the tourist traps. Here are the best of the Orlando facts.
Facts only an Orlando local knows are true
There are many facts about Orland that tourists and visitors just don’t know. Only locals know these things in their souls.
1. Most residents weren’t born here. Orlando is a city of transplants like so many others in America.
2. It’s a fact that no one knows how Orlando got its name. There are a lot of stories, but no one knows the truth.
3. Every tourist assumes you go to theme parks all the time. I mean you don’t, but you also have season passes for all of them.
4. The real old-timers remember when Disney World was a swamp. Yes, it was an actual swamp before Walt got a hold of it!
5. The city is under construction forever, no matter where you go or what year it is. No projects are actually finished.
6. You wish for four seasons, but when it gets cold, you count the seconds until that Florida humid heat is back.
7. There’s no superior sub sandwich than a Pub sub sandwich. You will die on this hill.
8. You’ve lost count of how many times you and your friends have googled “Florida Man + your birthdate” to find funny news.
9. There’s water everywhere. And, that means alligators everywhere. You know to check before you get in the pool just in case one slipped in like any other day.
10. You’re unfazed by random rain while the sun is out.
11. You’re nostalgic for Medieval Times class trips and a full leg of turkey while you watch knights fight.
12. When you heard that Downtown Disney was changing its name to Disney Springs and you’re still upset about it.
13. Walt Disney World isn’t even in Orlando, even though the tourists say it is. It’s in Lake Buena Vista, 20 miles out.
14. While we’re at it, Winter Park is not in Orlando. But, you find it funny when the Winter Park residents complain when people say they’re from Orlando. They think they’re fancy.
15. Did you know that Orlando is home to the first highway in Florida? Colonial Drive was originally paved with bricks.
16. The best food isn’t on International Drive, that’s the tourist district. And, while the food there is good, it’s pricey. There are spots around the city with better food at more affordable prices.
17. You pull out your puffer coat immediately when it drops below 70 degrees.
18. Mosquitos are practically another pet in your household. You’re no longer shocked by their size.
19. The old Starbucks arcade was where the Spanish market is now and you caught plenty of flying dollar bills in the money pit when you were growing up.
20. Wekiwa Springs State Park, within a day trip of Orlando, is a better spot for swimming than any of the city’s water parks. It’s a perfect, lush, tropical oasis with crystal-clear waters.
21. When people open your car trunk, you have a beach go-bag ready with at least three swimsuits and SPF 50.
22. You’re the master of the stingray shuffle, even if you know it’s an old wives’ tale to avoid getting stung.
23. The second the weatherman says there’s a hurricane coming, your phone starts blowing up with hurricane party invites.
24. You skip the big box movie theatre on your next date and instead, head to the mismatched sofas at the Enzian Theatre.
25. Nostalgia hits you when someone mentions Peaches Records and Tapes and you remember how many great records you picked up there.
26. Traffic is no joke. Rush hour on I-4 is basically all day. You’re probably reading this list while stuck in traffic (don’t read and drive!)
27. Hanson’s Shoe Repair is the only speakeasy left in Orlando. It even looks like an old speakeasy. You have to know the password to get in. (Hint: Just follow them on social media.)
28. House divided between the Seminoles or the Gators? Good luck.
29. If you’re not a Nole or a Gator, you’re irrelevant. (Sorry UCF!) And, if you live in a house divided, good luck.
30. When you enter your car, you tune in to WPRK 91.5 FM immediately. What other awesome commercial-free, only plays local bands, is there?
31. You know the perfect place to kayak is Shingle Creek, which cuts right through the city. Just make sure to keep your hands out of the water. Those gators aren’t playing around.
Did we miss any Orlando secrets?
The best thing about living in Orlando is being in sunny Florida with sandy beaches, but it’s far from the only thing. Are you packing for a move to O-Town after learning these Orlando facts? Here’s where you can find apartments for rent in Orlando.
Muriel Vega is an Atlanta-based journalist who writes about technology and its intersection with arts and culture. She’s worked on content for startups like Mailchimp, Patreon, Punchlist, Skillshare, Rent. and others. Muriel has also contributed to The Washington Post, Eater, DWELL, Outside Magazine, Atlanta Magazine, AIGA Eye on Design, Bitter Southerner and more.