Where Should I Live? 14 Important Factors When Deciding the Best Place to Live
How to Choose a Place to Live
Begin by determining what is most important to you and your family. If you’re single, living in a bustling city might be an ideal choice for your next home. If you have a family, on the other hand, a small town offers amenities that your kids will love.
1. Affordability
No matter what your pay grade is, living comfortably and within your means should be your first concern. Affordability includes more than just housing expenses; the prices for consumable goods, like groceries, vary greatly from town to town. The price of gasoline, utility services including electric and water, and taxes, also varies.
2. Taxes
Did you know that there are five states that have no sales taxes? That’s right: Alaska, Delaware, Montana, New Hampshire, and Oregon don’t collect sales tax for retail sales and some services. In addition, Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming don’t collect individual income taxes.
These are important factors to consider when choosing a place to live. The Tax Foundation measures the state-local tax burden, which calculates the percentage of income that taxpayers pay for state and local taxes. Their latest report, from 2009, states that citizens of New Jersey pay the most taxes, while Alaska’s residents pay the least taxes. In addition, 40 states provide property tax credits or homestead exemptions that can provide homeowners with some additional tax relief. Consider local sales tax, income tax, and tax credits and exemptions when you’re looking for the perfect place to live.
3. Employment Opportunities
Employment opportunities vary from state to state and city to city, so spend some time researching the job markets in different areas of the country. Start by analyzing quality employment opportunities within your industry, then determine where the highest concentration of these jobs are located.
Do you want to be an investment banker? You’ll need to live in a big city, like New York or Boston. Are you a teacher? Your options will expand considerably since education is sought after in just about any city or town.
Income levels for jobs can vary greatly from state to state. Salary.com lets you compare pay rates for various careers across the country. Salaries are often based on where the job is located. For example, a marketing manager job might come with a large salary in San Diego, but the cost of living is very high in Southern California. Do your research before you move, and ideally, find a job before you relocate.
4. Real Estate Value
Since buying a home is the single largest investment you will probably ever make, you need to seriously consider this factor. With real estate in a constant state of flux, it’s important to research current home prices, the length of time homes are for sale, the resale values of homes, and probable long-term value estimates.
In addition, carefully review local housing price trends. Websites like Zillow.com and Trulia.com can help you gain a grasp of the local real estate market. Do you have the opportunity to buy a home in an area where prices are at an all-time high, perhaps representing a bubble? Is the local town or city in the process of being further developed and therefore may become more attractive to future home buyers?
5. Crime Rates and Statistics
No one wants to live in a high-crime area, but that doesn’t mean that everyone can live in a Utopian society where crime never happens. By researching the crime rates and statistics for various areas, you can learn more about the safety of a town or neighborhood.
If you have already decided where you want to live, stop by the local police stations to discuss your new neighborhood. The police will be happy to discuss any concerns you have about the area. You can also check out Crime Reports, which lets you review crime statistics for different neighborhoods.
6. Proximity to Family and Friends
Do you have a large extended family? Do you spend the holidays with your family and friends? These are important factors to consider when choosing where to live.
If extended family and friends are important to you, choose a place either within driving distance or within a reasonable distance by plane. Otherwise, you’ll constantly feel torn, and likely spend all of your vacation time and energy shuttling back and forth to visit friends and family.
7. Climate
Like to ski all winter long? Maybe southern Arizona isn’t the place that you should call home. Not a fan of humidity? You may want to avoid settling in Florida any time soon
The climate plays a large role in our lives as it impacts our hobbies, behavior, and sometimes even our jobs. Living in the climate in which you are most comfortable contributes to your mental health, so choose wisely!
8. Education System
A good education is essential to setting up children to better handle the rest of their lives, so the importance of good schools cannot be overstated.
Nonprofit websites like GreatSchools are a great source for parents looking for the ideal schools for their children. The quality of the public schools factors into your finances, too, since tuition for a private school can be extremely expensive.
9. Culture
If you crave constant cultural stimulation, you definitely want to choose a place that has a lot of cultural offerings.
Many people need to be near their favorite team, or a vibrant music scene or the theater. If you have a favorite hobby or recreational activity, make sure that you can continue to pursue these interests in your new home. Finally, if you enjoy being around a specific religious or ethnic community with your same beliefs and interests, this should be a factor in where you choose to live.
10. Commute Time and Public Transportation Options
The explosive growth of the suburbs surrounding metropolitan areas have made commuting times in many areas unbearable. A recently released report from Sweden indicates that long-distance commuters actually have an increased risk of divorce. The length of time it takes to get to work can be a determining factor in the decision to move to a new locale.
11. Food Options
If you’re a foodie, you may want to try to find a place to live near the ocean or near a metropolitan city center. Grocery store fare, while plentiful, doesn’t replace the quality of fresh food from the ocean or fresh produce from the farmers’ market. If eating locally and sustainably is important to you, consider whether you can pursue this lifestyle in your new home.
12. Town or City Size
If you enjoy a friendly wave from everyone you pass while driving to the post office, then a smaller town is definitely for you. If you wish to remain relatively anonymous, a larger town or a big city is better suited to your personality
13. Healthcare Facilities
Healthcare facilities are important at any stage in life, but they are especially relevant if you have children or if you are nearing retirement age. Easy access to good healthcare can increase your quality of life exponentially, so be on the lookout for towns and cities with good hospitals and medical schools. Often, there will be a correlation between cities and the quality of the healthcare.
14. Proximity to an Airport
If you travel a lot, you may need to live within close proximity of an airport. If you live more than an hour away from the closest airport, traveling to and from the airport can become very time-consuming and expensive. If you spend a healthy amount of time traveling, definitely consider the distance to the airport.
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