Embarking on the path to homeownership in Utah? Look no further – this Redfin guide is your key to understanding the nuances of purchasing a home in the Beehive State. Whether you’re a nature enthusiast seeking the perfect mountain retreat, an adventure seeker drawn to the state’s outdoor playground, or someone eager to become a part of its warm and tight-knit communities, Utah is a wonderful place to call home.
You might be interested in the buzz of Salt Lake City or the quiet charm of smaller towns – either way, Utah’s housing market covers all bases. Whether you’re a first-time homebuyer or a seasoned homeowner, this Redfin guide will help you navigate the homebuying process in Utah. Let’s dive in.
What’s it like to live in Utah?
Living in Utah seamlessly combines natural wonders and inviting communities. With mountains hovering over cities like the snow-clad Wasatch Range, you’ll be able to hit the slopes in renowned ski destinations like Deer Valley. Alternatively, you could visit the beauty of Zion National Park, a testament to Utah’s diverse geography. Utah is also known for hosting lively events throughout the state, such as the prestigious Sundance Film Festival in Park City, one of the largest independent film festivals in the world. Check out this article to learn more about the pros and cons of living in Utah.
Utah housing market insights
The Utah housing market is currently undergoing a series of interesting trends. The median sale price is $543,700, marking a 3.3% decline from the previous year. This shift is accompanied by a decrease in housing demand and a corresponding reduction in supply. Despite the lack of demand, notably competitive cities include Taylorsville, West Valley City, and Cottonwood Heights, where the housing market activity is particularly pronounced. On the flip side, cities like Vernal, Pleasant Grove, and Riverton are making their mark with rapid growth in sale prices, positioning them among the top 10 metros in Utah experiencing this upward trajectory. These dynamics create a diverse landscape within Utah’s housing market, offering challenges and opportunities for those looking to buy.
Finding your perfect location in Utah
Discovering your ideal location in Utah is pivotal to crafting a fulfilling lifestyle. Utah offers diverse settings that cater to individual preferences. Choosing the right spot by using tools like a cost of living calculator ensures access to activities and communities that align with your values, setting the stage for your journey in the Beehive State. To kick-start your exploration, here are five popular Utah cities.
#1: Logan, UT
Median home price: $360,000 Logan, UT homes for sale
Living in Logan includes a blend of a college town and stunning natural surroundings. Home to Utah State University, the city boasts youthful energy with cultural events and educational opportunities. Residents can stroll along the charming Main Street, explore the nearby Cache National Forest for outdoor adventures, and savor local produce at the Cache Valley Farmers Market.
#2: Ogden, UT
Median home price: $365,500 Ogden, UT homes for sale
The city’s revitalized downtown hosts lively art galleries, restaurants, and seasonal events, creating an exciting cultural scene. Outdoor enthusiasts can easily access nearby attractions like Snowbasin Resort for skiing or hiking in the stunning Ogden Canyon. At the same time, the scenic Ogden River Parkway provides a serene backdrop for leisurely walks and biking.
#3: Provo, UT
Median home price: $440,000 Provo, UT homes for sale
Home to Brigham Young University, the city exudes a youthful atmosphere with cultural events. Some events include the First Friday Art Gallery Stroll and the Freedom Festival. Residents can hike up Y Mountain for panoramic views, explore the historic downtown with its local shops and eateries, and take advantage of the Provo River for recreational activities like fishing and tubing. The cost of living in Provo is 4% higher than in Ogden, mainly attributed to housing, groceries, and lifestyle experiences.
#4: St. George, UT
Median home price: $523,000 St. George, UT homes for sale
The city’s warm climate makes it an ideal destination for golfing, hiking in Snow Canyon State Park, and exploring Zion National Park’s stunning red rock landscapes. Residents can also enjoy cultural events like the St. George Art Festival, showcasing local artists, and immerse themselves in the city’s historical sites, such as the Brigham Young Winter Home. However, the cost of living in St. George is 7% higher than the national median, so if you’re on a budget, you’ll want to check out affordable suburbs outside downtown.
#5: Salt Lake City, UT
Median home price: $595,000 Salt Lake City, UT homes for sale
With a backdrop of the majestic Wasatch Mountains, moving to Salt Lake City, you can enjoy skiing in nearby resorts like Alta and Snowbird or hiking in Millcreek Canyon. The city’s cultural scene thrives through events like the Utah Arts Festival, and residents can explore historical sites such as Temple Square or immerse themselves in contemporary cuisine and art galleries in the vibrant downtown area.
The homebuying process in Utah
Now that you’ve discovered some popular locations, let’s dive into the homebuying process.
1. Prioritize your finances
Prioritizing your finances first in the homebuying process in Utah is crucial to ensure a stable investment and a comfortable financial future. With factors like varying home prices, mortgage rates, and property taxes, a solid financial foundation, coupled with tools like an affordability calculator, allows you to navigate the market more effectively and make well-informed decisions.
Various programs are available for first-time homebuyers in Utah, including the Federal Home Loan Bank: Home$tart Program, which can assist with up to $7,500 in down payment assistance.
2. Get pre-approved from a lender
Getting pre-approved from a lender is essential when purchasing a house in Utah. The pre-approval clearly understands your budget, strengthens your negotiating power, and expedites the buying process by demonstrating your seriousness to sellers.
3. Connect with a local agent in Utah
Local real estate agents possess in-depth knowledge of the area’s neighborhoods, market trends, and potential pitfalls, ensuring you make informed decisions and find a property that aligns with your needs and budget. So whether you need a real estate agent in Salt Lake City or an agent in Provo, they’re here to help.
4. Start touring homes
During home tours, focus on the home’s condition, layout, and potential for future renovations. Additionally, pay attention to the neighborhood, nearby amenities, and commute times to ensure that the property aligns with your lifestyle and preferences in the beautiful Utah environment.
5. Make the offer
Making an offer in Utah involves careful consideration of the property’s market value, recent comparable sales, and any unique factors that might influence the negotiation. Your local real estate agent can provide valuable insights into crafting a competitive offer that reflects the current market conditions while aligning with your budget and goals.
6. Close on the house
The closing process in Utah is the final step of the homebuying process, where ownership is officially transferred. It involves legal and financial procedures, including signing documents, paying closing costs, and finalizing the mortgage. Working closely with your real estate agent and lender ensures a smooth and successful closing experience in Utah’s real estate landscape.Check out Redfin’s First-Time Homebuyer Guide for more in-depth information about the homebuying process.
Factors to consider when buying a house in Utah
Along with the geographical location of Utah, there are essential factors to consider when buying a home.
Climate and weather
Utah’s weather varies significantly between regions, with colder winters, potentially heavy snowfall in mountainous areas, and arid, hot summers in lower elevations that can contribute to wildfires. It’s essential to consider the weather when buying a house, not only for lifestyle reasons but also for practical matters like homeowners insurance that may vary based on the climate and potential weather-related risks.
Water rights and usage
Understanding water rights and usage is crucial when purchasing a house in Utah due to its arid climate and unique water management system. With water scarcity a potential concern, comprehending how water is allocated, any restrictions on usage, and the availability of water sources ensures you can sustainably maintain your property and lifestyle.
Homeowners associations
Many homes in Utah come with homeowners associations (HOAs) which are essential to note when buying a property, as these associations often have rules, regulations, and fees that can significantly impact your ownership experience. Understanding the HOA’s requirements, fees, and any restrictions they impose ensures that your lifestyle aligns with their guidelines and that you’re financially prepared for the associated costs.
Dual agency
Noting that Utah allows for dual agency is vital when navigating the real estate market, as it means a single real estate agent can represent both the buyer and the seller in a transaction. This arrangement requires high transparency and communication to protect both parties’ interests adequately.
Buying a house in Utah: Bottom line
Utah offers an enriching lifestyle with stunning landscapes, outdoor options, and community and cultural events. Assessing factors like housing market dynamics and living costs is important, but the opportunity to create a fulfilling life makes buying a house here a promising and exciting prospect.
Buying a house in Utah FAQs
What is the average down payment on a house in Utah?
The average down payment on a Utah house is typically 10% to 20% of the purchase price. For instance, on a $300,000 home, a 10% down payment is $30,000, while 20% is $60,000. Different loans impact this; FHA-backed loans often require around 3.5% down, like $10,500 on a $300,000 home. Down payment needs vary based on mortgage type, lender policies, credit history, etc.
Do you need a real estate agent to buy a house in Utah?
While not mandatory, having a real estate agent when buying a house in Utah is highly recommended. An experienced agent can provide valuable local market insights, guide you through complex paperwork and negotiations, and ensure you make informed decisions. Their expertise can streamline the process and help you find the right property while avoiding pitfalls.
Is buying a house in Utah expensive?
The cost of buying a house in Utah varies depending on factors like location and property type. The median sale price in Utah is $543,700, which is higher than the national median of $425,571. Generally, Utah offers a relatively affordable housing market compared to some other states, but prices can still vary widely within different cities and neighborhoods. Researching local market trends and working with a real estate professional can help gauge whether the cost aligns with your budget and preferences.
Inside: Are you struggling to manage your money? Feeling overwhelmed with debt? If so, it’s time to take action and build better habits. This guide will teach you how to create a budget and start your savings. You need these financial tips for young adults.
The importance of sound financial advice for young adults cannot be overstated.
Often, a lacuna exists in our educational system where personal finance is concerned, leaving many young adults ill-equipped for the financial decisions that await them in their adult life.
Yet, you will encounter situations that require a sound understanding of budgeting, credit usage, investment, and an array of other financial tools without any formal education in these areas.
Financial advice can act as a compass, guiding you on a path to financial health and stability.
This early orientation can help you avoid the pitfalls of needless debt accumulation, poor money management, and inefficient financial choices like I made.
That is why it is of utmost importance to start imparting knowledge and financial habits to young adults as early as possible.
Why Financial Advice is Crucial for Young Adults
Money matters! Especially when you’re young and there’s a world of financial responsibilities unveiled before you.
Understanding financial basics early on is key to smart monetary decisions in the future. Here’s why you should consider this vital:
Knowledge Burst: Understanding finance terms, the implications, and their impacts arm you with knowledge for future decisions.
Saving for Later: Early investment in savings accounts or retirement funds can maximize your funds later in life.
Debts Control: Ensuring debts are paid off faster helps avoid excessive interest in the long run.
Investment: Stock or mutual fund investment can multiply your savings in the right condition.
Remember, your financial health requires deliberate action, start early!
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What is the best saving advice for young adults?
The best saving advice for young adults is to start early and save regularly.
This will help you build up a nest egg that you can use in the future.
Personally, this is my own regret as such it took me way too long to become financially sound.
Also, you want to be mindful of your spending and live within your means.
Best Financial Advice for Young Adults
When you’re in your 20s, the world feels like your oyster, ripe with opportunities and potential.
But among this plethora of choices, the most important decisions you make may very well relate to your finances.
While the excitement of earning and spending your hard-earned money can be exhilarating, it is crucial to remember that wise financial decisions made early on can set the stage for long-term financial success.
We have curated some of the best financial advice to help you make informed decisions and set the foundation for a secure financial future.
1. Create a Budget
Creating a budget can seem like a daunting task. However, once correctly accomplished, it can undeniably make your life a lot easier.
Below are some reasons to start budgeting from the start:
Money management: Knowing the ins and outs of your financial transactions helps manage your money efficiently. A budget gives you a clear snapshot of your income and expenses, allowing you to make strategic decisions about spending and saving. This level of control can be incredibly liberating and reassuring.
Financial discipline: Creating a budget encourages discipline when it comes to financial decisions. It can show you areas where you’re spending more than necessary, such as an underutilized gym membership, frequent dining out, or an unused streaming subscription. By addressing these expenses, you could easily save an additional $100 per month.
Alignment with goals: A budget can provide clarity and align your financial actions with your long-term goals. If you are side-tracked and lose sight of these ambitions, the budget serves as a potent reminder to guide you back to the right path.
Effective savings: A budget constitutes a robust tool that allows you to maximize your income and inculcate a savings habit. Essentially, it’s a roadmap that shows you, in real time, where you can minimize and direct those funds into savings. Those savings can then be invested toward achieving significant life goals more efficiently.
Stress reduction: Tracking income and expenditure can culminate in a stress-free financial life. For example, it helps manage unexpected emergencies or allows you to enjoy after-office drinks without any worries about overspending.
To simplify the job, various user-friendly budgeting apps are available.
These digital budgeting tools or apps offer handy features that can streamline tracking expenses and income. These tools can automatically categorize transactions, display visual charts of spending, and send alerts when you’re nearing the limit of a budget category.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
So, no more wondering where your money went.
With a budget in place, you get to tell your money exactly where to go, and this is an empowering shift from feeling out of control to feeling in control of your finances.
By making budgeting a consistent part of your financial routine, you adopt a proactive approach to your money, making your life easier, and your future brighter.
2. Manage Your Debt
As a young adult, managing your debt is incredibly crucial. Not only does it set the foundation for your financial future, but it also helps to keep your credit score healthy.
Here are some top-notch expert tips on how to effectively manage your debts:
Avoid credit cards whenever possible. Although credit card rewards may seem appealing, they can often lead to unwanted debts. Instead, try using cash, debit cards, or cash app cards.
Don’t finance purchases that depreciate in value over time. Rather than taking a loan for things like cars or other depreciable assets, save up and pay in full.
Minimize education-related costs. This can be achieved by going to in-state schools, considering trade school or community college, living off-campus, and exploring scholarships or work/study programs. Learn how to pay for college without loans.
Pay off your debts methodically. Consider strategies like the debt snowball or avalanche methods to strategically pay off your debts. Use a debt payoff app to find your debt free date.
Remember, being in debt can delay your financial goals.
So, learning to manage your debts early on in your life can have a significant impact on your future finances.
3. Invest Wisely
Investing wisely is a cornerstone of solid financial advice for young adults. It sets the foundation for a financially secure future.
Most people are terrified of the concept of investing and stay away from it, which is the worst decision possible.
Investing is about putting your money to work for you, expecting growth or income over time.
Consistently adding money to your investment portfolio can be more beneficial than staying away or trying to time the market.
Investing is ideally a long-term endeavor. Patience is key – you can’t expect to make big gains or reach your financial goals overnight. It’s a process of steady growth.
Simplicity is key for beginner investors. Buying and holding index funds is a good example of a simple and passive investment strategy. Or you can learn how to invest in stocks for beginners.
4. Educate Yourself about Savings and Investment Accounts
Understanding savings is a fundamental aspect of personal finance, yet many young adults ignore this.
Beginning an emergency fund, no matter how small is one of the oft-repeated mantras of personal finance experts.
Consistently making savings a non-negotiable monthly “expense” not only provides a safety net for emergencies but also contributes to various future goals such as retirement, vacation, or a down payment on a home.
A foundational aspect of mastering your finances involves learning self-control, reducing the tendency to make every purchase on credit, and understanding the importance of saving money before making a purchase.
Taking the initiative to read personal finance books and gain knowledge about managing money can greatly aid in controlling your financial future and making informed decisions about savings.
Starting saving for retirement early is essential to secure financial stability in the future.
Learn how much money should I have saved by 25.
5. Limit Your Expenses
Understanding how to limit expenses can be a game changer for your finances.
Track your daily expenses carefully, even the small ones like your morning coffee, as they can add up and provide crucial insights into your spending habits.
Keep your monthly costs, such as rent, as low as feasibly possible, as this will save you substantial amounts over time and accelerate your ability to invest in assets like a home. Learn the ideal household budget percentages.
This one makes the biggest different to spend less money…Categorize your expenses and set specific spending limits for each group, reviewing and adjusting these as needed to curb any overspending.
Regularly review your finances, specifically your bank and credit card statements, every two to three months to identify and eliminate any unnecessary expenditures.
6. Build Passive Income Streams
Okay, this one is my top financial tip!
Navigating the financial world requires strategy, and for young adults, generating passion income streams is a game-changer. With the decline of traditional 9-5 jobs, it’s crucial to adopt flexible financial strategies.
Start identifying your passions that can be monetized. Think about your hobbies, skills, or areas in which you’re an expert. It could be anything from blogging to tutoring or even food delivery services.
Find ways to make passive income. Remember, every bit of extra income counts, and data suggests diversifying income streams can secure your financial future.
Continuous learning is your power tool here. Aim to broaden your financial literacy, understand investing, explore various earning methods, and strengthen your entrepreneurial spirit.
While cutting expenses helps, growing your income using your passions gives you control over your financial destiny.
So, don’t hesitate in doubling up your day job with your passion-driven side hustles.
Expert tip: One of the best ways to make money online for beginners is a key place to start.
7. Create a Cash Reserve
Understand that surprise expenses can unsettle your financial plan, like a sudden car repair costing $700. Having a cash reserve will keep you financially stable through these unexpected turns.
Start an emergency fund: Alongside your regular savings, begin an emergency fund. Aim to save around three to six months’ worth of income.
Prioritize savings: Consider your savings as a non-negotiable expense. You’ll soon realize you’ve saved enough for significant objectives like a down payment on a home.
Build a rainy day fund: This larger $10k-50k rainy day account will help in those long-term expenses or job loss.
Combat inflation: Choose a money market account to preserve the value of your savings, while ensuring quick accessibility in emergencies.
Automation is key: If you’re forgetful, set up an automatic transfer that channels funds to your savings account immediately upon salary credit.
Building up cash reverses will help you to improve your liquid net worth and have less stress around money.
8. Learn About Taxes
Taxes seem complicated, huh? Well, not grasping tax basics can give you a run for your cash. So, get started young and you might save up a fortune in the long run
Start by understanding your salary. The chunk that you take home (net pay) isn’t the whole amount (gross pay) that your employer agreed on. Learn more about gross pay vs net pay.
If you’re self-employed, remember, you’ve got to handle income taxes, and also the full FICA bundle.
Do your bit of math now and avoid an unexpected cringer next April.
9. Consider a Term Life Insurance Policy
Getting a term life insurance policy while still relatively young is a smart financial move that any savvy young adult should consider early in their career.
This safety net serves multiple purposes, especially in ensuring the protection of your future family if for any reason you’re unable to provide for them.
Term life insurance policies are typically far more affordable for young adults. The research notably reveals that the younger an individual is, the more affordable the life insurance policy tends to be. Therefore, beginning this investment in your early years enables you to lock in a lower premium rate, thereby saving significant amounts in the long run.
A life insurance policy is an important piece of your financial planning puzzle. Remember, cost increases with age so act fast!
10. Take Action and Stay With It
Taking action and sticking with it is crucial in managing finances well.
First, you’ve got to get clear about your financial goals. Want to set up a passive income stream or travel? Make them specific, feasible, and measurable.
Once you’ve set your goals, break them down into bite-size pieces. For instance, calculate the costs and set quarterly goals. Make sure to these vision board supplies to keep your goals front and center.
Ultimately, this proactive approach coupled with persistence can help you efficiently manage your funds and stay financially healthy.
FAQ
Honestly, this is completely up to you.
The better bet would be to learn about financial management topics yourself.
Finding a fee-based financial advisor will be difficult when you have no significant assets. And then, when you do, a financial advisor can put a drag on your investing portfolio.
If you decide to work with a financial advisor, find a fee-only financial planner who provides unbiased advice – since they aren’t driven by commission.
Financial planning while young—especially in your 20s—is key to future success and financial security. Here are some steps to establish strong fiscal habits:
Firstly, map out your financial goals. Do you anticipate student loans, a mortgage, or potential investments?
Secondly, budget diligently to save more money early in your career.
Next, consider eliminating outstanding debt quicker by applying saved money from part-time or full-time employment.
Lastly, explore investments such as mutual funds and stocks for optimal use of leftover money after bills are paid.
Remember, according to a study of 30,000 college graduates, 70% never took a personal finance course—making self-education critical.
Use These Personal Financial Tips for Young Adults
In conclusion, managing personal finances is a vital skill that unfortunately is not emphasized enough in our educational institutions.
It’s critical for young adults – you – to learn this skill to establish a strong financial foundation for their future. Especially if you are determined to become financially independent.
This begins by developing a sense of self-control and understanding the importance of delayed gratification.
Regularly monitoring your income and expenses, and adjusting your lifestyle to live within your means, is a crucial habit.
Additionally, the importance of starting an emergency fund and saving for retirement cannot be overstated.
By incorporating these financial tips into their lives, young adults can steer clear of unnecessary financial stress and ensure a secure and financially healthy future.
Take this Advice about Money
It is crucial to understand not just the mechanics of money, but also, the long-term implications of your financial decisions.
Take control of your financial future today, and you are sure to reap the rewards in the years to come.
Discerning financial advice from trusted sources, instead of relying on potentially misleading external influences, is also key. Remember, the sooner you start, the better off you’ll be in the long run.
Remember the data-driven fact: small changes in your everyday expenses can have as big of an impact on your finances as getting a raise.
Know someone else that needs this, too? Then, please share!!
Studying abroad offers a unique opportunity to expand your cultural horizons, build valuable skills and prepare for the global workforce. More than 300,000 U.S. students study abroad each year, according to the State Department.
There isn’t one way to study abroad in college: Programs can vary by cost, length, level of cultural immersion and more. So you’ll have to do some research to see which is a good fit for your academic, personal and financial goals.
Follow these steps to tailor your study abroad experience.
Research study abroad programs (early!)
Begin researching study abroad options at least four to 12 months before when you’d like to start your program. This gives you time to apply for a passport, meet with an advisor and make a financial plan to pay for studying and living outside the U.S. Make sure to keep track of application requirements and deadlines as you do your research.
Students often study abroad during their sophomore or junior year of college, but there are exceptions. For example, some incoming students at New York University can apply to spend their entire first year of college at international campuses in England, Spain or Italy. Studying abroad earlier in your college career could mean more academic flexibility, since you won’t be scrambling to fulfill major requirements yet.
If you’re a high school student set on studying abroad in the future, consider applying to colleges that have robust programs. For example, Vermont’s Middlebury College offers 90 programs in more than 40 countries — and over half of its junior class studies abroad. And Pennsylvania State University has more than 300 programs across 50 countries.
Choose the right program for you
Whether it’s a summer language course in Beijing or a full semester of engineering classes in Sydney, taking classes in another country offers a wide range of experiences. The costs of studying abroad can vary widely, too, but you can use scholarships, grants and federal and private student loans for some programs.
With hundreds of options available, determine your top priorities to help narrow down the list. Start by defining your personal goals. Then, look at factors like program administration, academics, location, language of instruction and how your credits will transfer to your home institution.
Your college’s study abroad office — sometimes also called “education abroad,” “global education” or “international studies” — is a valuable resource. Study abroad advisors can help identify programs that align with your goals and academic requirements and guide you throughout the application and enrollment process.
Here are a few of the most common types of study abroad programs.
Exchange programs
Your home university may partner with an institution abroad and offer a student exchange program. Participating students usually pay their typical tuition and fees to their home university while studying abroad — which could be an in-state student rate — and enjoy much of the same financial aid they normally do, like federal student loans.
Exchange programs offer high levels of cultural immersion, since students take classes alongside full-time students at the partner university. Students can also expect support and guidance from their home and partner universities, since they’ve already established a relationship.
Faculty-led study abroad
Professors at your home university may lead study abroad trips. These programs usually last a few weeks, and take place during a school break. Instruction is typically similar to what you’d receive in the U.S. and the program may include prearranged travel. The price can vary depending on program lengths, location and more. Because these faculty-led programs often occur outside of the academic calendar, they typically cost extra on top of regular semester tuition. Financial aid may apply.
You’ll likely study alongside students from your home university, which may limit cultural immersion. Faculty-led programs could work for those who’ve never traveled abroad or want a shorter-term program in a specific academic area.
Direct enrollment at a foreign university
U.S. students may enroll directly at a foreign university for a period of time and still receive course credit at their home university. Students pay international tuition rates directly to the foreign school. This route may be more or less expensive than a prearranged exchange program, depending on the tuition you’re paying at your home university and what you’ll pay abroad. It also requires more research to determine if you’re eligible to enroll and receive academic credit.
This may be a good choice if you’re not interested in any of the options offered by your home college, if you aim to live and study among foreign students only or if you want a high level of independence.
Third-party study abroad programs
Third-party study abroad providers like Academic Programs International (API), Council on International Educational Exchange (CIEE) and DIS offer a variety of study abroad programs. These are good options if you’re looking to study alongside international students from different schools and countries, or if you want a unique experience not offered by other programs. The costs of these programs vary widely, but they tend to be more expensive.
On average, semesters abroad arranged by a third-party provider were $8,718 to $17,933 in 2019, according to research from study abroad program database GoAbroad.
Check with your home university’s study abroad office for a list of preapproved third-party providers and programs to ensure your credits will transfer.
Internships, research and volunteering
Studying abroad doesn’t always require studying. Some programs are designed around research, internship or volunteer opportunities. Sometimes, these types of study abroad programs can help you earn academic credit toward your degree. You may also enroll in related classes abroad while participating.
With this route, you’ll be immersed in the workplace and community of your country of study. Despite working, you may still need to pay for the program, in addition to flights and housing. Program costs can vary.
Apply
Once you’ve found a few study abroad programs that look compelling and you understand the costs, you’ll need to start the application process. This will look different depending on the program, but many applications include similar components: letters of recommendation, transcripts, personal essays and language requirements when applicable.
Just like the research process, it’s important to start your application early. Get organized and reach out to professors for letters of recommendation, if necessary, well before the deadline. You may also need to meet with an advisor at your school’s study abroad office.
Make your application stand out by demonstrating clear academic objectives, personal interest in the program and a strong transcript.
Secure funding
For costs you can’t cover upfront, prioritize aid you don’t need to pay back, like scholarships.
Private student loans can fill any funding gaps, but they should be a last resort. They don’t have the same protections and perks as federal loans.
Work-study and the need-based Pell Grant cannot be used for study abroad. However, the State Department’s competitive Benjamin A. Gilman International Scholarship Program is designed to help Pell recipients pay for international study. The top award is $5,000. Check out the full list of study abroad scholarships offered by the U.S. government and foreign governments on the State Department’s USA StudyAbroad website.
Plan your logistics
The logistics of moving to another country can be daunting, even when you have a study abroad coordinator helping you through the process. Note these important factors as you plan.
Passports and student visas
Keep track of relevant student visa requirements and deadlines. Depending on your country of study, visa processing can take from a few days to months. You may need to move quickly after getting accepted to a program.
You’ll likely need a U.S. passport in hand before applying for a visa. If you don’t have one already, plan for processing times of at least three months.
Housing
Housing is also important to consider before hopping on your international flight. Some programs will arrange an apartment, dorm or homestay on your behalf, while others will leave finding housing up to you — which can be difficult to do in advance.
Consider what matters most to you when deciding on housing. Living with a host family may offer you higher levels of cultural and language immersion, but a dorm or apartment could mean more flexibility and independence.
Study abroad budgets
Prepare a spending plan and budget to cover the day-to-day costs of your life abroad. This may include personal travel, emergency funds, international banking fees and other expenses outside of your typical student lifestyle. Consider applying to scholarships intended for study abroad that could help out with these types of expenses.
For some students, a study abroad credit card may help them avoid high transaction fees while earning travel points to cover flights and other expenses. But be wise with your spending. Not paying off the balance each month can lead to ballooning debt.
On the northern Oregon Coast between Warrenton and Gearhart, near Astoria and Seaside, lies the gated community of Surf Pines, Oregon. Bordered by the Pacific Ocean on the west, and the peaceful Sunset Lake on the east, the residential community offers quite a few beautiful homes in a serene setting where quiet rural living meets fun beach life.
And a sleek three-bedroom home is looking to attract new residents to the area.
Recently listed for $1,250,000, the property was designed by Pacific Northwest architect Paul McKean, and reflects the respected architecture firm’s design vision.
Photo credit: Don Frank Photography
“We believe that there is beauty in simplicity, and that good architecture improves lives and respects nature,” Paul McKean Architecture’s About Us page tells us, and the words could describe their Surf Pines, Oregon project to a T. “Our designs tend to be simple, efficient and materials-driven. This approach lends itself to smaller homes that are cost-effective, durable and energy efficient.”
Photo credit: Don Frank Photography
Custom built for its current owner, the founder of Schoolhouse Electric (a high-end lighting and home goods manufacturer based out of Portland, OR), the architecturally distinct home offers panoramic views of the Pacific Ocean and of the area’s beautiful natural landscape through its western-facing, floor-to-ceiling windows.
Sitting on a one-acre lot, the elevated modern beach retreat offers 1,443 square feet, three bedrooms, and two baths.
Inside, an expansive great room brings together the living, dining, and kitchen areas, and is flooded with natural light thanks to its expansive windows. There’s also an adjacent patio that offers additional seating and a great spot to enjoy the views.
Photo credit: Don Frank PhotographyPhoto credit: Don Frank PhotographyPhoto credit: Don Frank PhotographyPhoto credit: Don Frank PhotographyPhoto credit: Don Frank PhotographyPhoto credit: Don Frank Photography
Envisioned for entertaining, the Oregon home features a primary bedroom with an attached bathroom, a large bunk room with a seating area, and a second guest bedroom and bathroom.
Photo credit: Don Frank PhotographyPhoto credit: Don Frank Photography
There’s also a second outdoor area to entertain guests underneath the upper-level patio and a fire pit with built-in benches next to the house. To top it all off, the beach is just a short walk away.
Photo credit: Don Frank Photography
The Surf Pines, Oregon house is listed with JP Faherty, Matt Robinson, and Grant Ludwick of The Agency Bend.
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Known for its views, Wyoming offers so much more on top of Yellowstone National Park. With an overall cost of living slightly below the national average in the state’s larger cities and plenty of small-town living for the taking, Wyoming is an affordable place to call home.
There’s no shortage of wide open spaces, but there are also plenty of opportunities for work, a low crime rate and more outdoor activities than you can list off the top of your head.
If it’s time to live somewhere a bit more relaxing, with the ability to hike, ski and explore nature on a whim, Wyoming is for you. To make sure you can afford it, tally up average prices in the key areas that create a cost of living in Wyoming. It gives you a clear picture of what you can expect in everything from apartment rent to the taxes you’ll pay.
Learn more about what it costs to live in Wyoming by looking at:
Wyoming housing prices
Lacking a ton of big cities, most of the best places to live in Wyoming are a little smaller, a little more laid-back and a little less expensive. Nowhere is far from stunning views and outdoor activities, either. Picking Wyoming as the place to call home pretty much opens the door to a totally unique adventure, all without leaving the country.
Casper
With a quaint, historic downtown area and plenty of excellent fishing, Casper, once a stop on the Oregon Trail, is now Wyoming’s second-largest city. Housing prices here are 15.7 percent below the national average. It’s similar to Laramie, but Casper is seeing more growth.
Up 46 percent over last year, one-bedroom apartments in Casper average out at $1,091 per month. Two-bedroom apartments are rising more slowly in price, up only 12 percent over last year. Expect rents for these units to average out at $1,229 per month.
Home prices in Casper are only slightly more than in Laramie, as well, averaging out at $363,157.
Cheyenne
Cheyenne is Wyoming’s largest city, and with this distinction comes the state’s highest home prices. Also the state capital, Cheyenne has an Old West feel, complete with the world’s largest rodeo. It’s also a great family-oriented city with plenty of parks, museums and all-ages fun.
Though living here costs a little more, housing prices are still 7.3 percent below the national average. Apartments are still within an affordable range, as well, not really changing much over last year. One-beds, with an average monthly rent of $800, actually dropped a percent over last year, and two-beds, at an average of $880 per month, only went up by a single percent.
For those who’re thinking of buying in Cheyenne, the average home price is currently $392,483.
Laramie
Aside from the cost of living, college is on the mind of almost every Laramie resident. Home to the University of Wyoming, football is a huge pastime here. The whole town even closes down for certain games. With a high value on fun and family and the Snowy Range ski area nearby, Laramie is a great and affordable community. Housing prices are 16.6 percent below the national average.
What this means for those looking for a place to live is there are plenty of low-cost options. An average two-bedroom apartment in Laramie is $950. Not only that, but home prices are averaging out at $348,038, which isn’t too bad for those looking to buy.
Wyoming food prices
Another cost of living in Wyoming is food. Big game like elk and bison are big winners in Wyoming, along with trout fished fresh out of crystal clear water. Even though these favorite foods are local, they’re not always the cheapest thing in the store. As a result, the average Wyoming resident spends between $267 and $300 per month on groceries and has higher-than-average food prices.
Casper is 3.2 percent above the national average
Laramie is 3.3 percent above the national average
Cheyenne is 8.5 percent above the national average
What this means for individual products you may have on your own grocery list varies by the city, as well. Steak in Cheyenne, for example, is around $16.34 but can get as low as $10.68 in Casper. Other items, like lettuce, cost almost the same no matter where you are. A head of lettuce is $1.78 in Casper and Laramie, but just a penny more in Cheyenne.
Food pricing also makes a difference when it comes to date night. A three-course meal for two is only $35 in Casper. It’s actually also the exact same average price in Laramie. But, you’ll pay 46 percent more in Cheyenne when the bill comes to you for $65.
Wyoming utility prices
Wyoming boasts some low utility bills when compared to other states in the country.
Cheyenne is 19.3 percent below the national average
Laramie is 16.6 percent below the national average
Casper is 11.9 percent below the national average
These percentages translate to energy bills that are on the more reasonable side of your general expenses list. Cheyenne and Laramie have identical energy bill averages at $125.83 per month, while Casper is only a little higher at $141.44 per month.
Energy bills in Wyoming do get a little bit of a break thanks to the state’s capacity to produce wind power. As of 2021, 22 percent of the state’s electricity came primarily from the wind. Concentrated in the southeastern corner of Wyoming, this is where regularly blowing winds get funneled through mountain passes onto the high prairie. From there, farms capture the wind and put it to good use.
Wyoming transportation prices
Not a highly walkable state when you’re within city limits, you’ll most likely get around in Wyoming by car. All the cities on our list do have the added bonus of being bike-friendly, as well. Laramie has the highest bike score of 74, and Casper’s and Cheyenne’s scores are in the 50s.
With increased dependence on owning your own vehicle and a lack of public transportation everywhere you go, overall transportation prices in Wyoming vary by a lot.
Casper is 16.9 percent below the national average
Cheyenne is 8.4 percent below the national average
Laramie is 33.3 percent above the national average
Laramie is also the only city on the list that is without a public transit system.
Casper Area Transit
Consisting of six color-coded bus lines, the Casper Area Transit system runs through Casper, Mills and Evansville. A one-way fare is $1, and monthly passes are available for $30.
No busses run on Sundays, and the purple and orange lines don’t run on Saturdays. It’s also worth noting that bus service stops on the early side, concluding at 6:30 p.m. during the week and at 3:30 p.m. on active lines on Saturday.
Cheyenne Transit Program
Fixed-route bus service is currently on hold with the Cheyenne Transit Program. Those needing a ride are able to schedule a trip using the Cheyenne Transit app. Even though this is a more unconventional system at the moment, a single-way fare is still $1.50. No passes are available.
Service runs Monday-Saturday only, ending at 7 p.m. on weekdays and 5 p.m. on Saturdays.
Wyoming healthcare prices
Healthcare prices average out a little higher than other elements composing the cost of living in Wyoming. While still close to the national average, there’s not as much difference between the cities as in other areas.
Cheyenne is 6.1 percent below the national average
Casper is 0.8 percent below the national average
Laramie is 1.1 percent above the national average
Since healthcare prices include a variety of medical visits and all your prescriptions, too, it’s easier to understand how these numbers impact cost by looking at what specific services would cost.
The most expensive city to see the doctor in is Laramie, with an average visit cost of $120.66. The most expensive city to get your eyes checked in is Casper, where an average visit will cost you $178.80. For the dentist, who you should visit every six months, an average visit costs the most in Cheyenne at $110. Each city grabs the highest-priced medical visit at some point.
Wyoming goods and service prices
Although all the hiking and outdoor activities in Wyoming will keep you pretty busy, there are certain ‘extras’ you most likely include in your budget each month. These are goods and services, the non-essentials you want to have, but don’t have to have. If your budget ever became tight, these would be the items you’d start removing until you bounced back.
Thankfully, Wyoming averages for goods and services, all combined, sit on the lower end.
Cheyenne is 7.6 percent below the national average
Casper is 3.2 percent below the national average
Laramie is 2.4 percent below the national average
All these cities are pretty close together, overall, but you may notice bigger price differentials when you drill down to those specific goods and services unique to your list. Here are how a few common ones to look at.
At least you’ll get a pretty consistent price when it comes to a six-pack or a burger out with friends. The other goods and services seem to run a much wider gap between the least expensive option, Cheyenne, and the most expensive, Casper. Of course, Laramie does take its top spot back when it comes to burgers and brew.
The average vet expenses may seem on the high side, but it costs a lot to take care of the smaller members of the family. This is also true when it comes to childcare. This potentially jaw-dropping expense possibly isn’t on your radar yet, but get ready. There’s often a little sticker shock attached to this particular good and service. In Laramie, for example, it’s $1,258.33 a month for a full-day, private preschool. Yikes!
Taxes in Wyoming
The cost of living in Wyoming gets even sweeter by the fact that there’s no individual income tax. Sales tax is also not that bad. The state imposes a 4 percent sales tax rate and allows localities to add up to 2 percent more.
The most you’ll pay in sales tax, in any given area, is 6 percent, which is the case in both Laramie and Cheyenne. Here, for every $1,000 you spend shopping, $60 goes right to taxes.
Casper’s local sales tax of 5 percent sits closer to the state-wide average of 5.22 percent.
How much do I need to earn to live in Wyoming?
Calculating what you need to live comfortably in Wyoming starts with being able to afford rent. It doesn’t matter what your overall cost of living is, if you can’t afford a home, you’re in trouble. Since most experts suggest you should spend no more than 30 percent on your rent, it’s easy to calculate what you can and can’t cover.
The average two-bedroom apartment in Wyoming costs $1,071 per month. That means a year of rent would be $12,852. If that’s 30 percent of your annual salary, you must make at least $42,840 to live comfortably.
This is quite possible, given that the average annual salary in Wyoming is almost $10,000 higher at $52,110.
Even with these estimates, though, it’s best to do some math with your own budget using our rent calculator.
Living in Wyoming
With a more affordable cost of living and plenty of open space, Wyoming is the place for you if you’re in need of a laid-back lifestyle. Without the bustle of highly urbanized areas, you’re free to take in all the natural beauty the state has to offer and get outside for all sorts of activities. If the peace and quiet are calling your name, it’s time to see if Wyoming fits into your budget.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
From Chicago’s iconic skyline and world-class museums to historic landmarks like Abraham Lincoln’s home and the picturesque Starved Rock State Park, there are plenty of reasons to consider moving to Illinois. If Illinois sounds like the state for you, then you may also be curious about what cities fit into your budget. For example, the median home sale price in Illinois is $319,999 as of July.
Don’t worry if that price doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has rounded up a list of 12 of the most affordable places to live in Illinois – and they all have a median home sale price under $319,999. Let’s find out which cities made the list.
#1: Decatur
Median home price: $112,000 Average sale price per square foot: $70 Median household income: $45,404 Nearest major metro: Springfield (40 miles) Decatur, IL homes for sale Decatur, IL apartments for rent
With a median home sale price of $112,000, Decatur comes in at number one on our list of most affordable places to live in Illinois. There are about 70,500 residents living in this mid-sized city. If you’re considering moving to this area make sure to visit Nelson Park where you’ll find a restaurant, amphitheater, and views of Lake Decatur, check out Rock Springs Conservation Area, and stroll along the trails at Fairview Park.
#2: Peoria
Median home price: $160,000 Average sale price per square foot: $93 Average rent for a 1-bedroom apartment: $675 Median household income: $51,736 Nearest major metro: Chicago (160 miles) Peoria, IL homes for sale Peoria, IL apartments for rent
Coming in as the second most affordable city to live in Illinois is Peoria. When living in this city of 113,100 people, you can explore Laura Bradley Park and the Forest Park Nature Center, check out the riverfront and downtown Peoria, and visit museums like the Peoria Riverfront Museum.
#3: Springfield
Median home price: $169,000 Average sale price per square foot: $104 Average rent for a 1-bedroom apartment: $725 Median household income: $54,164 Nearest major metro: St. Louis (96 miles) Springfield, IL homes for sale Springfield, IL apartments for rent
About 114,400 people reside in Springfield, located in central Illinois. The median home sale price is $169,000 which is about $150K less than the median home sale price in Illinois. Make sure to visit the Illinois State Capitol building and check out historic sites like Lincoln Home National Historic Site, Abraham Lincoln Presidential Library and Museum, and Dana-Thomas House State Historic Site. You can also spend the day at Lake Springfield if you move to the third most affordable city.
#4: Champaign
Median home price: $219,000 Average sale price per square foot: $138 Average rent for a 1-bedroom apartment: $876 Median household income: $51,736 Nearest major metro: Springfield (86 miles) Champaign, IL homes for sale Champaign, IL apartments for rent
Only slightly more expensive than Springfield is Champaign, the next city on our list. With roughly 88,300 residents in Champaign, make sure to check out one of the parks like Kaufman Lake, explore downtown Champaign, and visit the University of Illinois Urbana-Champaign campus.
#5: Normal
Median home price: $245,500 Average sale price per square foot: $106 Average rent for a 1-bedroom apartment: $1,100 Median household income: $51,736 Nearest major metro: Peoria (38 miles) Normal, IL homes for sale Normal, IL apartments for rent
Consider adding Normal to your list of cities to check out to if you’re looking for an affordable place to live in Illinois. With 52,700 people living in this affordable town, you can check out the Illinois State University campus, and visit some of the historic spots and parks in town.
#6: Bloomington
Median home price: $258,750 Average sale price per square foot: $106 Average rent for a 1-bedroom apartment: $890 Median household income: $66,861 Nearest major metro: Peoria (38 miles) Bloomington, IL homes for sale Bloomington, IL apartments for rent
Another noteworthy city is Bloomington, where you’ll find the home prices are about $60K less than the state’s average. Bloomington has about 78,700 residents and is a great city to consider buying a home this year. There are lots of activities to do in this city. You can visit the museums and historic spots like the McLean County Museum of History and David Davis Mansion, check out Miller Park and the Miller Park Zoo, and golf at one of the courses, among many other local favorites.
#7: Oak Lawn
Median home price: $267,500 Average sale price per square foot: $174 Median household income: $69,352 Nearest major metro: Chicago (25 miles) Oak Lawn, IL homes for sale Oak Lawn, IL apartments for rent
Next on our list of affordable places to live in Illinois is Oak Lawn. With a population of close to 58,400, Oak Lawn is a great area to live in that’s not nearly as big as the major metropolitan cities in Illinois. It’s also conveniently located just southwest of Chicago. So, if you find yourself moving to this city make sure to explore the Wolfe Wildlife Park where you’ll find trails and nature preserves, and check out the local restaurants.
#8: Cicero
Median home price: $283,750 Average sale price per square foot: $172 Median household income: $53,726 Nearest major metro: Chicago, IL (9 miles) Cicero, IL homes for sale Cicero, IL apartments for rent
If you’ve lived in Illinois for a while, chances are you know of Cicero. This affordable city is home to roughly 85,300 residents and is only 9 miles west of Chicago. Living in Cicero, make sure to relax at Cicero Community Park, and check out the local shops and restaurants
#9: Joliet
Median home price: $277,500 Average sale price per square foot: $164 Average rent for a 1-bedroom apartment: $1,005 Median household income: $72,871 Nearest major metro: Chicago (48 miles) Joliet, IL homes for sale Joliet, IL apartments for rent
About 48 miles southwest of Chicago is Joliet. The population is about 150,400 and the area is a great place to consider moving to in Illinois. Some attractions in Joliet include visiting the Joliet Area Historical Museum, stopping by the Rialto Square Theatre, and checking out Historic Route 66.
#10: Aurora
Median home price: $287,500 Average sale price per square foot: $185 Average rent for a 1-bedroom apartment: $1,400 Median household income: $74,659 Nearest major metro: Chicago (42 miles) Aurora, IL homes for sale Aurora, IL apartments for rent
Claiming the 10th spot on our list of affordable places to live in Illinois is Aurora. This city has a population of 180,500 and you can visit the Aurora Regional Fire Museum, relax at Phillips Park Zoo, check out Aurora West Forest Preserve, or take in the riverfront views at McCullough Park. You’ll have plenty of activities to explore during your free time living in Aurora.
#11: Tinley Park
Median home price: $300,000 Average sale price per square foot: $163 Median household income: $82,163 Nearest major metro: Chicago (30 miles) Tinley Park, IL homes for sale Tinley Park, IL apartments for rent
The median home sale price in Tinley Park is $300,000, making it another great city to consider moving to this year. There are about 55,900 people living in this city, giving Tinley Park a city-like feel without the hustle and bustle. If Tinley Park is the city for you, be sure to see a concert at Credit Union 1 Amphitheatre, check out Centennial Park, and explore St. Mihiel Woods.
#12: Elgin
Median home price: $301,000 Average sale price per square foot: $176 Average rent for a 1-bedroom apartment: $1,800 Median household income: $72,999 Nearest major metro: Chicago (30 miles) Elgin, IL homes for sale Elgin, IL apartments for rent
In the 12th and final spot is the city of Elgin where the median home sale price is $301,00. If you’re looking to visit the nearest major city, Chicago is about 30 miles away from Elgin. There is plenty to do in Elgin like exploring the 160-acre Bluff Spring Fen nature preserve, checking out Walton Island Park, and visiting downtown Elgin and the riverfront area.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Illinois. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2023. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
In a city renowned for its glamor and extravagance, luxury living reaches new heights, enticing potential homebuyers with an array of exquisite features that redefine modern sophistication. If you’re thinking about moving to the city and you’re in the market to buy a luxury home in Los Angeles, you’ll find this city offers a wealth of luxurious properties that seamlessly blend elegance, comfort, and functionality.
But what are the most sought-after luxury home features in the Los Angeles housing market? From views of the iconic skyline to the seamless integration of smart technologies, the City of Angels boasts an array of luxury home features that elevate homes to unparalleled heights. In this Redfin article, we unveil the most coveted home features in Los Angeles, providing an exclusive glimpse into the world of high-end living that awaits.
Top neighborhoods with luxury home features in Los Angeles
While Los Angeles already has a high median sale price, coming in at nearly one million in June, almost $500K higher than the national median, there are several neighborhoods renowned for their luxury homes and exceptional features where homebuyers are willing to pay premium prices.
North of Montana tops the list with a median sale price of nearly five million in June 2023. With tree-lined streets and a serene atmosphere, these residences often feature traditional or Mediterranean-inspired designs, spacious interiors, upscale finishes, and well-manicured yards. The neighborhood offers a refined, upscale living experience in a prestigious enclave.
Venice saw a median sale price of over two million. Homes in Venice exude eclectic charm, ranging from beachside villas to contemporary designs, often featuring modern amenities, open layouts, and outdoor spaces. Artistic flair, diverse architecture, and a vibrant community atmosphere define Venice’s unique residential landscape.
Luxury homes in Ocean Park, epitomize coastal living, and with a median sale price of almost $1.9 million, these residences showcase a fusion of contemporary design and beachside charm. Expansive windows, high-end finishes, and proximity to the ocean create a harmonious blend of upscale comfort and the laid-back vibe of the neighborhood.
Mar Vista, known for its blend of modernity and neighborhood charm, showcases a blend of modern style and casual elegance. These residences often feature open layouts, high-end finishes, and inviting outdoor areas. Mar Vista’s neighborhood charm combined with upscale living creates a unique and appealing residential experience in the heart of Los Angeles. Homes in Mar Vista are also set at premium prices, with a median sale price of almost $1.8 million.
Lastly, with a median sale price of almost $1.6 million, Sunset Park offers upscale living in a laid-back coastal setting. Characterized by a mix of architectural styles, these residences boast modern amenities, stylish interiors, and inviting outdoor spaces.
1. Smart home technology
Luxury homes are typically equipped with smart home technology to enhance convenience, comfort, and security, and luxury homes in Los Angeles are no exception.
Luxury homes will usually have smart home features like Nest control, a dual-zone climate management adjustable via phone or central systems, showcasing a seamless blend of comfort and innovation. The incorporation of Cat 5 Ethernet connectivity ensures high-speed communication, meeting the demands of present-day digital requirements and enabling efficient data exchange, streaming, and connectivity. You’ll also find enhanced security solutions, such as SimpliSafe and Ring capabilities, to offer peace of mind for homeowners. These technologies create a futuristic, efficient, and comfortable living experience that redefines the way you interact with your home.
2. Modern and contemporary style
Modern and contemporary design is popular among luxury homes in Los Angeles as it offers a harmonious blend of form, function, and visual appeal.
Picture a home that seamlessly blends modern and contemporary styles. Its exterior showcases clean lines, with a mix of materials such as glass, metal, and wood creating a dynamic facade. As you step inside, you’re welcomed by an open floor plan, emphasizing spaciousness and fluidity. Neutral color palettes dominate, punctuated by vibrant accents. Large windows invite abundant natural light, and smart technology seamlessly integrates into the design. Throughout the space, you’ll find a mix of textures, from smooth surfaces to tactile fabrics. Sleek lines, recessed lighting, trendy materials like Quartz and LVP, and minimalist design create an ambiance of refined elegance.
3. Floor-to-ceiling windows
Floor-to-ceiling windows are a growing luxury trend, meeting the rising demand for ample natural light. Luxury residences commonly feature expansive glass windows and doors, welcoming ample sunlight, and offering captivating views, harmonizing with the surroundings by embracing nature’s beauty indoors.
Beyond its aesthetic appeal, this design element transforms living spaces into inviting spaces, fostering a connection with the outdoors. The interplay of sunlight and architectural design blurs indoor-outdoor boundaries, creating an environment that enhances the visual allure of interior spaces.
4. En-suite bathrooms
The desirability of en-suite bathrooms in most or all rooms reflects a premium standard of luxury living. This feature offers unparalleled privacy and convenience, catering to the personal needs and preferences of each occupant. Luxury homeowners value this feature for its capacity to enhance comfort and accommodate guests with an upscale experience akin to a private retreat.
Luxury homes in Los Angeles typically have elaborate glass showers or open areas near soaking tubs that provide a spa-like experience. You’ll also find high-end materials such as marble or granite countertops, exquisite tile work, and premium fixtures. Features such as spacious walk-in showers with multiple shower heads, soaking tubs, heated floors, and smart technology for lighting and temperature control are often included to enhance the experience.
5. Backyard oasis
In the bustling landscape of Los Angeles, homeowners prize the “backyard oasis” as an escape from the city’s energy. With features like artificial grass, a cabana, and a pristine pool and spa, homeowners and their guests can forget their daily stresses and relax. A pergola adds an inviting touch, while a dry sauna and ice bath elevates the wellness experience. With LA’s pleasant year-round climate, a backyard oasis is the perfect place for homeowners to create their own personal sanctuary within the privacy of their backyard.
6. Open floor concept
Open floor concept typically merges the kitchen, living room, and dining area into one expansive area. This layout enhances the sense of openness, encourages natural light to flow freely, and fosters a more social and interactive environment. Open floor plans are known for their versatility, enabling easy movement and facilitating communication between family members and guests. They have become popular due to their modern and spacious feel, allowing for creative interior design and adaptable use of space.
The allure of the open floor concept, complemented by expansive sliding glass cantina doors leading to the backyard, is a top luxury home feature in Los Angeles. This design blurs the boundaries between indoor and outdoor spaces, capitalizing on the city’s mild climate and creating an effortless connection with nature. The doors create an expansive, light-filled ambiance, while the fluid transition enhances the sense of space.
7. Garage conversion
Customizing a garage gives homeowners the opportunity to tailor the space to their desire, whether that’s creating a private gym, a home theater, an art studio, or an ADU. Repurposing the garage allows homeowners to optimize their property’s functionality and aesthetics, often adding unique features like custom cabinetry, high-end finishes, and integrated technology.
If you’re planning to buy a home in LA, a local Redfin Premier agent will provide invaluable insights into the market, including an in-depth understanding of the neighborhoods, pricing trends, and available luxury properties. Their expertise ensures you find a home with the perfect blend of desired amenities. Or, if you plan to list your luxury property, a Redfin agent can guide you in making informed decisions to maximize its appeal and value, tailoring it to attract the most discerning buyers.
A Mediterranean-style mansion in the hills of Irvine just sold for $25 million, making it the priciest property ever sold in the city.
The record-breaking sale redefines the top of the market in Irvine, which until now hasn’t quite reached the dizzying heights of luxury homes closer to the water in Laguna Beach or Newport Coast.
In fact, the home doesn’t even have an ocean view. It’s found in Shady Canyon, a hilly golf course community about five miles from the coast.
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If an Irvine home fetches more than $10 million, it’s likely located in Shady Canyon. The master-planned community has attracted celebrities such as baseball stars Albert Pujols and Mark McGwire, and the previous record holder, which sold for $17 million in January, sits a few houses down from the one that just sold.
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The living room. (Brandon Beechler)
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The dining room. (Brandon Beechler)
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The kitchen. (Brandon Beechler)
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The bedroom. (Brandon Beechler)
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The theater. (Brandon Beechler)
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The arched doorways. (Brandon Beechler)
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The patio. (Brandon Beechler)
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The outdoor lounge. (Brandon Beechler)
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The swimming pool. (Brandon Beechler)
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The view. (Brandon Beechler)
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The back patio. (Brandon Beechler)
The seller is Joni Rogers-Kante, founder of the multilevel marketing skin care company SeneGence. She doubled her money on the sale after buying it from sports radio host Jim Rome for $12.5 million in 2017.
Rogers-Kante gave the place a face lift during her stay and shot for the stars with the original listing, asking $50 million for the property in 2021. With no takers, she trimmed the price to $40 million, then $30 million before finding a buyer, whose identity remains unclear.
Spanning nearly an acre, the estate centers on a 13,000-square-foot mansion built in 2007. In addition to seven bedrooms and 10.5 bathrooms, the house is loaded with coffered ceilings, hand-painted murals and amenities such as a theater, gym, spa, wine room, elevator and six-car garage.
Arched doorways open out back, where an infinity pool overlooks the golf course below.
Ariana Gaffoglio of Official handled both ends of the deal.
Finding the right agents for your real estate team is never a perfect process. Still, there are certain strategies that leaders can employ in order to increase their agents’ chances of success. On today’s podcast with Ramon Casaus, we discuss finding, hiring, and firing real estate talent. Listen in and learn how Ramon built a highly successful real estate team in record time. You’ll also hear where most teams fall short, what to focus on with your team’s training, and when to consider partnership with an external entity.
Listen to today’s show and learn:
Two numbers to monitor as a real estate business owner [3:41]
How PLACE helps real estate teams succeed [7:05]
PLACE partnership explained [11:44]
Starting a real estate team with six months in the industry [14:47]
Creating something worth your ideal mentor’s time [19:29]
Ramon’s No.1 job right now [22:15]
Where most real estate teams fall short [24:43]
The conversation to have when cutting agents [27:32]
How to find the best agents to add to your team [30:24]
Hiring and training real estate agents [33:59]
Setting new real estate team members up for success [38:13]
Vanity metrics and what actually matters [40:37]
Routines and habits for professional success [43:01]
Simple, easy changes to fix how you feel [44:39]
Ramon’s obsession with Section 8 rentals and The Banker’s Code [46:42]
Real estate events on Ramon’s radar [50:48]
Where to find and follow Ramon Casaus [52:17]
Ramon Casaus
Ramon Casaus is a Professional real estate sales pro, business entrepreneur, visionary & thrill seeker! He has sold over 1,700 homes in the last 6 years and successfully built + scaled real estate teams across the Southwest. Ramon’s real estate sales team does 500+ deals a year & has locations in Arizona, New Mexico, Colorado and California! He partnered with the Industry’s #1 real estate technology platform & community, PLACE. They produce the most PRODUCTIVE & PROFITABLE real estate agents & teams. Ramon’s YouTube channel is to show you that you can do this too and HOW to do it from someone who really does this business. Ramon has had the opportunity to speak on some of the largest stages in the industry, collaborate with celebrities & coach literally thousands of agents to financial freedom! DM Ramon on IG and he’ll help you out!
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Rates Are Changing The Rules in The Middle of The Game
By:
Matthew Graham
4 Hours, 29 Min ago
Rates Are Changing The Rules in The Middle of The Game
You know the part in the movie with the plot twist where the good guy is actually a bad guy? That’s not exactly what the bond market’s inflation narrative has done to the mortgage community, but it’s close enough to feel that way. Cooler inflation was supposed to usher in a trend toward lower rates, but just when the 2nd consecutive CPI report suggested that cooling was well underway, rates are suddenly more concerned with other “stuff.” Evidence for that continued to roll in this morning as 10yr yields hit 2023’s highs.
09:31 AM
Unchanged overnight through 7:30am ET. Weaker since then. 10yr up 4.3 bps at 4.203. MBS down 10 ticks (.31) in 5.5 coupons.
11:53 AM
Decent rebound after 10am. MBS down only 6 ticks (.19) and 10yr up .6bps at 4.166.
02:50 PM
Mid day recovery waning. MBS down 10 ticks (.31) and 10yr up 2.5bps at 4.185.
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