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June 2022

best cities for millennials

Top 7 Best U.S. Cities for Millennials

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Millennials, born from 1981 to 1996, are a generation on the move. They are looking for more affordable living, a positive job outlook and a balance between work and a fulfilling personal life. These are the seven best US cities for millennials to move to, whether or not they can afford their first home.

Denver, Colorado

Denver has one of the largest concentrated populations of millennials in the US, representing up to 34% of the people living in some of the downtown neighborhoods. This is a more expensive city for millennials with high average rents. With a well-paying job, the quality of living more than makes up for the costs. You can enjoy lots of parks and climbing on rocks at the nearby Rocky Mountains, or even ski.

Nashville, Tennessee

While Nashville may be known for country music, it has a diverse collection of industries in health care, compounding pharmacies, finance, publishing, and music production. This gives millennials in the city plenty of employment sectors to choose from. The vibrant nightlife and sprawling neighborhoods mean millennials can always find something to do, from trying one of the many local breweries or attending city festivals.

Seattle, Washington

Seattle is a great place for millennials seeking employment in the booming tech industry. This city has one of the largest tech sectors in the country, which gives millennials job opportunities to work in the industry for big-name companies, such as Microsoft. Although Seattle does have one of the most expensive housing markets in the US, it has accessible public transit around the city. The city’s location on Puget Sound and many parks around the city provides plenty of outdoor activities to keep millennials busy.

Jacksonville, Florida

The millennials moving to Jacksonville will live in a city with multiple beaches, but at an affordable price. The city has a low unemployment rate, and average housing prices are lower in Jacksonville than national prices. The artistic neighborhood of Riverside has one of the largest increases in the millennial population across the city. The draw of the neighborhood likely comes from eclectic shops, trendy restaurants, and high walkability ratings. Additionally, it’s even featured on a new list for the top summer vacation cities in the U.S.

San Jose, California

More than 13% of people living in San Jose are millennials. San Jose also has growing incomes, although the average rent is high in the city. Across the city, there are lots of neighborhoods popular with millennials from the bustling downtown area to manicured Rose Garden and Japantown.

Minneapolis, Minnesota

Minneapolis is a Midwestern city with a family-friendly vibe. With great restaurants and an abundant number of the craft breweries millennials love, this city attracts an increasing number of millennials. For an urban city, it has an affordable median rent of just under $1,800 per month. It shares proximity to its sister city of St. Paul, which helps millennials find even more things to explore.

Washington, D.C.

The nation’s capital of Washington, D.C., is a magnet for millennials for many reasons. Millennial Wages in D.C. are the highest in the nation. Despite the political environment, millennials in this city are some of the best off in terms of mental health. This small city has a lot of public transit options. Local metropolitan trains go to the suburbs of D.C. Trains leaving the city even go to larger cities along the east coast, such as Boston. This makes it easy for millennials to travel, a popular activity for this generation.

Although they enjoy city living, millennials want a balanced lifestyle. Each of these cities provides a unique experience but has something for every millennial from affordable rent to beach-style living. These cities are some of the best for millennials.

Buying a Home in Minnesota From Out of State – The Ultimate Guide

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Buying a home, anywhere, is a very big commitment. There is a lot of planning that goes into it and, of course, a lot of money. And it only gets more complicated when buying a home from out of state, making an already grueling process longer. However, if you know what you are doing, the process can go much more smoothly and easily. To this end, we have decided to put together the ultimate guide on buying a home in Minnesota from out of State, and we hope you find it helpful.

Figure out a budget and down payment

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First things first, you need to consider your buying capabilities. Set a realistic budget for yourself, and plan ahead for the down payment. Typically, mortgage lender in Minnesota ask for 20% of the price as down payment. However, if you go with a government backed loan (VA and VHA loans), your down payment can be as low as 3.5%, or even 0%. However, this option does have its downsides. For one, since you will be borrowing more money, you will pay higher monthly installments. Also, you might want to familiarize yourself with the difference between Deed vs. Title. Additionally, you will want to get pre-approved for a mortgage well ahead of time. This is because most home sellers in Minnesota will want you to be pre-approved before showing you their home. And always remember to compare rates and pre-approval amounts from multiple lenders before deciding.

Figuring out an exact budget should be the first step when buying a home from out of state.

Choose your location and hire a real estate agent

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Because you are buying from out of state, and let’s use Texas as an example, you won’t be able to easily tour potential properties. Because of this, it’s absolutely vital to hire a real estate agent to help you throughout the process. Not only will they be able to help you through all of the legalities and the search, they will be able to take you on guided video tours through potential properties so you can inspect them before deciding. However, before finding your realtor, you should decide on a location, and hire a local realtor who knows the area well. Additionally, remember to think about hiring movers too. For example, if you’re moving from Austin, you will want reliable experts to get you into your new home. In order to leave Austin stress-free, you have to hire professionals. And finding reliable ones takes a lot of time.

Decide what you want in a house

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In order to help narrow down your search, you have to consider all of the amenities which you must have, and other which would be nice to have. For example, if you have children, you will probably want to have a home close to a school. So, make a list of must-haves, and give it to your realtor. This will help them narrow down the search to properties with amenities that you absolutely need. Location also plays a part in this, but you should realistically decide that before this step. Also, if you’re buying this home for the sake of investment, you might want to familiarize yourself with some tips for effective property management. Once you know exactly you want out of a home, the search for a home should go much faster. Your real estate agent should be able to pin down a few properties which suit your needs.

Knowing exactly what you want out of a home will help narrow down the search considerably.

Visit and make an offer

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Once your real estate agent finds a suitable property, you might want to make a trip to the house and take a look in person. Video tours are a great option, but nothing can replace seeing a property in person. Once you visit and are certain you want the home, work with your real estate agent to make an offer. They will be able to help you make an offer which is both reasonable and competitive. Additionally, experts from State to State Move note that you should never move into a home without first seeing it in person. An in-person inspection can reveal issues which are easily missed over a video tour. Also, when making your offer, remember that this price doesn’t have to be final. But, it still needs to be competitive enough for the seller not to simply brush it off.

Inspections, appraisals and closing

Finally, when the seller accepts your offer, you still have a chance to renegotiate the price. By going through a home appraisal and inspection, you could renegotiate the price depending on the inspection. The home inspection should cover: the roof, foundation, plumbing and electrical systems. More specifically to Minnesota, the property should also be tested for radon (because it can be dangerous at elevated levels), and some sellers will need you to perform a pest inspection before closing. When it comes to appraisals, you should familiarize yourself with what highest use means in real estate before going through with it. Regardless, your lender will order an appraisal in order to make sure the home is worth the price tag. When it comes to closing, remember to account for closing costs and don’t forget all of the required documentation. Namely: the deed, mortgage promissory note, final loan application and disclosure statements.

A home inspection and appraisal can help renegotiate the price depending on the results.

Buying a home in Minnesota from out of state – the ultimate guide – closing thoughts

Buying a home from out state is a long and complicated process. But if you know familiarize yourself with the details it can go quite quickly and smoothly. Working with an expert real estate agent and doing your own preparation and research ahead of time is incredibly helpful. Still, only you can know what you the perfect property is, so a visit before deciding on a home should be considered mandatory. We hope you found this ultimate guide to buying a home in Minnesota from out of state helpful, and we wish you a wonderful rest of your day.