Best Cities to Buy Rental Properties in the US (Top 15 in 2023)

Despite a high interest rate environment, 2023 will be a great time to invest in rental properties. That’s because inventory is beginning to increase, providing more housing options since any time before COVID.

With rising inflation and high interest rates, many homebuyers will be crowded out of the buying – leaving room for investors to scoop up great deals.  So, where are the top cities to invest and what makes a specific market a good place to buy? Keep reading to see our list or get started

Why are these cities the best?

We analyzed recent historical trends, home values and economic conditions per market – including an evaluation of the below categories:

  • Job growth and ability to sustain and generate future jobs.
  • Price appreciation and historical increases in property values.
  • Average home price is a good metric to evaluate and ideally the average home value should be no lower than 50% below the national average and no higher than 50% above the national average.
  • Population growth, which is a reliable measure for future housing demand.
  • Healthy occupancy rates, which provide a proxy for evaluating inventory levels in a given market.
  • Favorable landlord laws, which allow leniency for property owners when evicting tenants for non-payment.
  • Low property taxes, which indicate a more conservative tax environment and better annual cash flow versus high tax states.

15 Rental Markets to Invest In

These are our picks for 2023. There may be hotter housing markets for primary occupant homebuyers, but these are the best for rental property investors based on our research. This analysis included proprietary data from Attom Data, John Burns Consulting, RentHub and local MLS’s (multiple listing services).

We also considered census data and property tax rates variations across markets. With the exception of a couple, most of these markets are still quite affordable and should be easy to obtain financing. If you’re an experienced investor, you could also explore ways to buy with little or no money down.

1. Waco, Texas

Waco, TX

Made famous by designer and TV star Joanna Gaines, Waco offers mountain biking, hiking, antique stores, and wonderful local shops and restaurants. With affordable housing and healthy rental rates, Waco is expected to grow for years to come – making it one of the top rental markets in the US.

Check out properties in Waco

2. Niceville, Florida

Niceville, FL

Niceville is a fast-growing city located along the Florida panhandle in Okaloosa County. Because of its proximity to the beach and also Eglin Air Force Base, the city is a fantastic rental market and has growing population and property values.

3. Clermont, Florida

Lake Minneola, Clermont, FL

Clermont is one of the fastest growing suburbs in central Florida. It’s a desirable location due to great school districts, quiet neighborhoods and

Check out properties in Clermont

4. New Braunfels, Texas

Comal River, New Braunfels

New Braunfels is a suburb of San Antonio, Texas. It’s known for the Comal and Guadalupe rivers, which wind past leafy parks like Landa and Cypress Bend. The whole state of Texas is booming, but this city in particular is a wonderful area for investors.

5. Chattanooga, Tennessee

Chattanooga, TN

Regularly named as one of the top 100 Best Places to Live and more affordable than nearby Nashville. Chattanooga is a great place to live due to many factors, including its affordability, low housing costs, laid-back charm, and sought-after amenities. Chattanooga is set along the Tennessee River in the foothills of the Appalachian Mountains and sits between Atlanta and Nashville.

6. Greensboro/Winston-Salem, NC

Downtown Greensboro

Greensboro is a medium sized city in western North Carolina with a population of about 300,000. Greensboro is a quick drive to bigger cities like Charlotte and Raleigh, but more affordable from an investing standpoint.

7. Knoxville, Tennessee

Downtown Knoxville

Knoxville is one of the best mid-size cities in the U.S., thanks to its affordable cost of living, which is 17% lower than the national average.a And the affordability doesn’t stop there—the median home value in Knoxville is $190,000, and the median monthly rent is $966.

8. Bradenton/Sarasota, Florida

Sarasota Bay

Beautiful beaches, warm weather, and enviable recreational and cultural amenities earn Sarasota a spot on “best of” lists almost every year. It’s still somewhat affordable compared to places like Miami and Fort Lauderdale. The population growth alone makes it a fantastic place to buy a rental property.

9. Canton, Georgia

Edgewater Neighborhood, Canton

Canton is a suburb of Atlanta with a population of 32,342. Canton is in Cherokee County and is one of the best places to live in Georgia. Its population has quadrupled in the past 15 years and it’s continuing to grow steadily each year.

Check out properties in Canton

10. Provo, Utah

Provo is one of the more expensive cities on our list, but still has a lot of headroom for growth and appreciation. Premium rents means a higher net yield for investors.

Next 5 (Runner-Up Cities)

11. Oklahoma City, Oklahoma

12. Rincon, Georgia

13. Fayetteville, North Carolina

14. Yuma, Arizona

15. Fairhope, AL

Final Take

Owning rental properties is one of the best ways to build wealth and enjoy passive income. As we covered, rental laws, property taxes, population growth and home values all impact where to invest. If you want to keep researching markets, check out our list of best states to buy rental properties.

The author, SimpleShowing, is a tech-enabled real estate brokerage located in Atlanta.  If you’re considering purchasing a rental property, learn more about various financing options for your purchase or contact us to get connecting with a local agent. If you’re new to investing, take a deeper dive into real estate investing with our guide for beginners.

How Much Does It Cost to Build a House?

Are you convinced that the only way to get the house you want is to build it from the ground up? Building a house can cost anywhere from $100 per square foot up to $400+ per square foot in more expensive markets or for luxury properties.

Keep in mind that it’s impossible to say exactly how much it costs to build a specific house because of all the different variables involved – such as land costs, level of finishes, fixtures, types of material used and labor costs.  However, in 2021, the National Association of Home Builders (NAHB) found that the average price for building a new home was $481,902.

How Much Does It Cost to Build a House?

Based on a survey of local and regional builders and project managers throughout the Southeastern US, our analysis suggests that the typical cost to build a home is about $160 per square foot. This means that it would cost you about $384,000 to build a 2,400 square foot house with 4 bedrooms and 2.5 bathrooms.

On the other hand, the current average price for a single-family home is about $378,500. So, if you’re trying to decide if it’s better to build or buy, price may not play a huge role depending on where you live.

Construction Costs

Once you’ve made up your mind that you’re planning to build and not buy, it’s time purchase the land and break ground. These are the construction and labor cost estimates based on a 2,400 square foot ranch home.

  • Site WorkEstimated Cost: $16,000 – This covers everything from site inspections to permits to the “impact fee” you need to pay to the government.
  • Foundation – Estimated Cost: $26,000 – Before starting on your home, you need excavators to break ground and then use lumber and concrete to build a reliable foundation. The price goes up if the foundation needs to support a basement, too, as it will require digging much deeper into the earth. Before excavation begins, it’s critical to identify any underground utilities that could interfere with the build. In Nevada, homeowners and contractors often rely on Las Vegas utility locating services to ensure safe and compliant groundwork.
  • Framing – Estimated Cost: $41,000 – Constructing the framework of your home is an important job, one that costs a lot because of the lumber involved. It also entails “sheathing”, which is when wooden layers are added to cover the framework. If your plan involves using other materials, like steel, you can expect a higher price tag.
  • Exterior Finishes – Estimated Cost: $48,000 – It takes a lot of material to cover your new home’s perimeter. This material is especially important, too, because it’s what stands between you and the elements. This is also when all of your doors and windows are added, another necessary step that can be extremely costly.
  • Major Systems Installations Estimated Cost: $46,000 – A modern home needs an HVAC system, electrical, and plumbing. Simply installing these systems – not the actual fixtures – requires skilled labor and long hours.
  • Interior Finishes – Estimated Cost: $68,000 – This is when all of your fixtures and features get added. Hardwood floors, faucets, countertops, cabinets, fireplaces, etc. There’s a lot that falls under this category, which is why you can easily spend close to $70,000 making your new house feel like a home.

Again, this is only a rough estimate of how much it costs to build a house. Also, keep in mind that it’s an estimate at the lower end of the spectrum. It wouldn’t be hard to spend significantly more.

Making the Plans for Your New Home

Most people enjoy occasionally fantasizing about what they would include in their dream home if they could build one from scratch.

Of course, if you’re planning on building a new house, you actually get to go through the process of putting a completely unique plat, floor plan or building plan together.

Except, even if you choose every last fixture yourself, you still need a professional to actually create the detailed plans. Their expertise is essential for ensuring that the builder can execute those all-important plans correctly.

Like the other costs on this list, the price of hiring a draftsman or architect depends on what you have in mind for your home. Most architects charge between $100 and $130 an hour. For a 1-2 bedroom house, expect to pay $400 to $1,500. For 4-5 bedrooms, you’ll spend anywhere from $1,200 to $3,000.

Buying the Land or Lot for Your Home

If you’re building your home in a pre-planned community, you might be able to purchase your lot directly from the contractor who will simply include the cost with the rest of their fees. Otherwise, you’ll buy the lot separately and then hire a contractor to build your home.

Either way, the cost for the actual lot is substantial, though it differs greatly from one neighborhood to another. The USDA estimated that the average cost for an acre of land is $4,720 but of course, it’s more expensive in urban areas, coastal cities or other more expensive regions.

Furthermore, it’s important to remember that simply purchasing a lot usually isn’t enough to begin building a new home.

Usually, this entails clearing the lot of vegetation, large rocks, and any other natural barriers that would stand in the way of building a house. They may also need to grade the land, stake the area where the home will be built, connect the lot to the electrical grid, and much more.

Just like the actual lots themselves, this type of initial work comes with a price that can be difficult to predict. Typically, clearing an empty lot will cost somewhere between $1,850 to $4,500, but again, it varies based on the size of the lot and also the grade and vegetation.

The Perfect House May Already Be Out There

Or you could consider what’s already available.

If your heart is set on a new home, don’t worry. There are usually plenty of brand-new homes on the market that don’t cost nearly as much as building one from scratch.

Even better, if you buy a new build through SimpleShowing, you’ll enjoy the benefits of our Buyer Refund program, which will give you up to $15,000 back at closing.

Contact us today to find out more about how we save customers money on new construction.

Renovating Your Business Interiors: Here Are 6 Tips to Help the Process

Are you considering renovating your business interiors? If so, you’re not alone. A lot of businesses choose to renovate their spaces in order to modernize their image and attract more customers. However, the process of renovating can be daunting – especially if you’re not sure where to start. That’s why we’ve put together this handy guide with 6 tips to help make the process a little bit easier for you. Keep reading for more information!

1) Prepare the Space

Before you begin renovating, it’s important to prepare the space properly. This means clearing out all of the old furniture and equipment and decluttering the space. Although it may sound like a lot of work, taking the time to do this will make the renovating process much easier and less chaotic. For this purpose, you should find a 4-yard dumpster rental to get rid of all the junk. In addition, be sure to patch up any holes in the walls and fix any broken fixtures before you start working on the space.

2) Create a Plan

Once you’ve prepared the space, it’s time to start planning the renovations. This is where you’ll decide what changes you want to make to the space and how you want everything to be laid out. Keep in mind that you’ll need to take into account the flow of traffic, the placement of furniture and equipment, and any building code requirements. Having a well-thought-out plan will make the renovating process much smoother and will help you avoid making any costly mistakes. Not only that, but it will also help you stay on budget.

3) Set a Budget

The next step is to set a budget for your renovation project. This will help you determine how much money you have to spend on materials, labor, and other costs associated with the renovations. It’s important to be realistic when setting a budget and to leave some wiggle room for unexpected expenses. In order to set a realistic budget, you should consult with a professional contractor who has experience with business renovations. Once you have a budget in place, it will be much easier to stick to it and avoid overspending.

4) Choose the Right Materials

Once you’ve set a budget, it’s time to start shopping for materials. This is where you’ll need to decide what type of flooring, walls, ceilings, and fixtures you want in your space. Be sure to take into account the overall look and feel that you’re trying to achieve with your renovations. In addition, make sure that the materials you choose are durable and easy to maintain. After all, you don’t want to have to replace them anytime soon!

5) Choose a Design Scheme

In addition to the materials, you’ll also need to decide on a design scheme. What type of look are you going for? Do you want something modern or something more traditional? Do you want vibrant colors or subdued tones? The design scheme you choose should complement the materials you’ve selected and fit with the overall image you’re trying to create for your business. Consider consulting with a professional designer to help you choose the right scheme for your space.

6) Hire a Professional Contractor

Once you’ve planned everything out and gathered all of the materials, it’s time to start the renovation process. Unless you’re an experienced contractor yourself, we recommend hiring a professional to do the work for you. Not only will they be able to do the job quickly and efficiently, but they’ll also be able to spot any potential problems and make sure that the renovations are up to code. In addition, they can help you stay on budget and on schedule.

Hiring a professional contractor is one of the most important steps in renovating your business space. Be sure to do your research and choose a contractor with experience in commercial renovations.

After all of the hard work, it’s finally time to sit back and enjoy your new space. Take some time to explore all of the new features and imagine all of the possibilities for your business. With fresh, new renovations, you’ll be able to take your business to the next level!

Renovating your business space can be a daunting task, but with the right planning and execution, it can also be a very rewarding experience. By following these six tips, you’ll be able to renovate your space in a way that fits your budget and style while still meeting all of the necessary code requirements. So what are you waiting for? Get started on your renovation project today!

Simple Roof Repairs That You Can Absolutely DIY

If you are a handy person who wants to save some money on roof repairs, here are some jobs that you can, in theory, do yourself: shingle repair, tile replacement and gutter installation. However, remember that you will need to have the skills, time and knowledge necessary to do a great job. The most important thing is your safety and the well-being of your home, so if you are unsure whether or not to do a roof repair yourself, call in the professionals.

Shingle Repair

There are several signs of damage that indicate you need to repair your shingles. For instance, if your shingles look discolored, if you have missing shingles on the roof or if you see water stains on the ceiling of the house. This indicates a leak in the roof due to a damaged shingle. Moreover, if you spot hail dents in shingles, granules in the gutters or curled or crooked shingles, it is time to repair or replace your shingles.

You can call in the help of an expert roof restoring company to ensure the job is done right. Or, if you have the skills and tools, you can look online for information on how to patch shingles on a roof yourself. If you are going to attempt this job alone, remember to take every safety precaution and do thorough research on how to complete the task safely and effectively.

Tile Replacement

If your roof is made of tiles, you may never have to replace the whole thing. This depends on the age of the roof, the weather conditions and the kind of tile. Concrete tiles often last around 50 years, while clay tiles can last for up to 100 years.

If you do have to replace a tile or several tiles, consider doing the job yourself if you have the skills. Concrete tiles cost between $2 and $4 per square foot, or between $9 and $18 per square foot for professional installation. Meanwhile, clay tiles cost $3 to $7 per square foot for materials or $8 to $25 per square foot for installation.

As you can see, you can save money doing the job yourself, however, you should never risk this if you do not have the knowledge of how to replace tiles safely and effectively.

New Guttering

Finally, you could replace the gutters on your home yourself if you have the time, patience and skills necessary. If you do not know which kind of gutter to get, make sure to acquaint yourself with all materials and styles and choose the one that best suits your home.

This has been a brief look at some roof repair jobs that you can do yourself. Remember, only attempt these jobs if you have the knowledge, skills and safety gear to do them without harming yourself or further damaging the roof. If in doubt, call experts. We have highlighted shingle repair, tile replacement and gutter installation as three things you could potentially DIY. If you are thinking about having a go at any of these jobs, make sure to thoroughly research the process first.

6 Property Improvements Which Increase Your Home Value

If you’re planning to put your house on the market, or are simply curious about which home improvements will increase its value the most, read on. We’ve compiled a list of six property improvements that are almost always worth the investment. Keep in mind that this is not an exhaustive list – every house is different and may require a different approach – but it’s a great place to start!

1. Kitchen Renovation

A kitchen renovation is one of the best investments you can make in your home. A new kitchen will not only make your house more attractive to potential buyers, but it will also add significant value to the property. Kitchen renovations can be as simple as a new coat of paint and some new hardware, or as extensive as a complete gut renovation.

A good idea if you’re planning to sell in the near future is to consult with a real estate agent or home stager to get an idea of what potential buyers are looking for in a kitchen. This will help you make the most of your investment and ensure that your kitchen renovation adds as much value to your home as possible.

2. New Roof

A new roof is one of the most important investments you can make in your home. Not only will it protect your property from the elements, but it will also increase its value.

A new roof will also make your home more attractive to potential buyers and could even help you sell your property faster. Namely, when in search of roof repair specialists, look for those with extensive experience and a good reputation in the industry. The roof is one of the most important parts of your home, so you want to make sure it’s in good hands.

3. New Flooring

Installing new flooring is another great way to add value to your home. New floors will make your house more attractive to potential buyers and increase its resale value. Flooring options include hardwood, laminate, tile, and carpet.

When choosing new flooring for your home, it’s important to consider the needs of potential buyers. For example, if you’re planning to sell in the near future, it’s a good idea to choose neutral flooring that will appeal to a wide range of buyers. On the other hand, if you’re not planning to sell anytime soon, you can choose flooring that’s more personal to your taste.

4. New Interior Paint

A fresh coat of paint is one of the quickest and easiest ways to add value to your home. A new paint job will make your house more attractive to potential buyers and increase its resale value. When choosing paint for your home, it’s important to consider the needs of potential buyers. For example, if you’re planning to sell in the near future, it’s a good idea to choose a neutral paint color that will appeal to a wide range of buyers. On the other hand, if you’re not planning to sell anytime soon, you can choose a paint color that’s more personal to your taste.

5. Bathroom Renovation

A bath renovation is one of the best investments you can make in your home. A new master bath or secondary bath will not only make your house more attractive to potential buyers, but it will also add significant value to the property.

Bath renovations can be as simple as a new coat of paint, new shower/tub or as extensive as a complete gut renovation.

6. New Landscaping & Curb Appeal

Landscaping is another great way to add value to your home. A well-landscaped yard will make your house more attractive to potential buyers and increase its resale value. Landscaping options include planting trees, shrubs, and flowers; installing a new lawn; and adding mulch or stone to your landscaping beds.

When landscaping your home, it’s important to consider the needs of potential buyers. For example, if you’re planning to sell in the near future, it’s a good idea to choose low-maintenance landscaping that will appeal to a wide range of buyers. On the other hand, if you’re not planning to sell anytime soon, you can choose landscaping that’s more personal to your taste.

Curb appeal is the first impression potential buyers will have of your home, so it’s important to make sure your house looks its best. There are a number of ways to improve your curb appeal, including painting your front door, installing new hardware on your doors and windows, and power washing your siding and walkways.

These Details Will Increase The Value Of Your Home

When you are ready to put your home on the market, it is important to make sure that you have taken care of all the details. The last thing you want is for a potential buyer to find something wrong with your house and start negotiating the price. In this blog post, we will go over some of the details that will increase the value of your home. Keep reading to learn more!

The landscaping

One of the first things potential buyers will notice when they pull up to your house is the landscaping. If you have a well-manicured lawn with beautiful flowers and shrubs, this will increase the curb appeal of your home. Taking the time to landscape your property can really pay off when it comes time to sell.

In addition, potential buyers will also be impressed if you have a nice outdoor living space. If you have a deck or patio, make sure it is clean and in good condition. Adding some furniture and/or decorations can really make this area appealing to buyers.

The condition of your home’s exterior

Another detail that potential buyers will notice is the condition of your home’s exterior. If you have peeling paint or a cracked foundation, this will definitely turn potential buyers off. Make sure to take care of any repair work that needs to be done before putting your house on the market. A good idea is to have a professional inspector come and take a look at your home to point out any areas that need attention.

The interior of your home

A lot of potential buyers will also want to see the inside of your home before making an offer. If you have updated appliances, fresh paint, and beautiful flooring, this will definitely increase the value of your home.

Making sure your home is in tip-top shape before putting it on the market is essential if you want to get top dollar. Namely, you can choose to hire a home service specialist to do a thorough cleaning and to take care of any necessary repairs. This will give your home that “like new” feeling that buyers are looking for.

For instance, if you have an outdated kitchen, potential buyers may be turned off. However, if you take the time to update this space, it will really pay off. The same goes for bathrooms and any other rooms in your home.

State of your home’s systems

When potential buyers are considering purchasing your home, they will also want to know that all of the systems are in good working condition. This includes the HVAC, electrical, plumbing, and more. If you have recent inspection reports or warranties for these items, be sure to share them with potential buyers. They will be reassured knowing that these systems have been well-maintained.

Additionally, if you have made any energy-efficient upgrades to your home, be sure to point these out as well. Potential buyers will be interested in features that will help them save money on their utility bills. So, if you’ve added solar panels, energy-efficient windows, or insulation, be sure to let potential buyers know.

Make sure your roof is in good condition

A roof is a crucial element of any home, especially for buyers. If you have had a recent inspection report done on your roof, make sure to show it to potential customers; they will feel more comfortable knowing that the condition of the roof has been verified. The last thing buyers want is to have to replace the roof shortly after purchasing the home. Although it may not need to be replaced, regularly maintaining your roof will increase the value of your home. You may also notice that your energy bills decrease if you have a well-insulated and energy-efficient roof.

Check windows and doors

Another detail to take care of before listing your home is to check the windows and doors. Make sure that they are in good condition and that the seals are tight. Because brand-new windows and doors can be a significant investment, your home will appear more valuable to buyers if they are in good condition.

When you opt for a new set of windows or doors, you should also consider energy-efficient options. Not only will this be a selling point for your home, but it will also help you save money on your energy bills.

These are just a few of the details that will increase the value of your home. By taking care of these items, you will be more likely to get top dollar for your house. So, if you’re thinking of selling in the near future, be sure to keep these details in mind.

Moving Into An Old House Means You Must Check The Following Things

If you’re moving into an old house, there are a few things you need to check before making it your home. Many people forget about the importance of these checks and end up dealing with expensive repairs down the road. In this blog post, we will discuss the things you need to look for when moving into an old house. By following our tips, you can avoid costly repairs and make your new home feel like it’s always been yours!

Check for signs of water damage

Water damage is one of the most common problems in old homes. Look for stains on ceilings, walls, and floors. Also, check for mold or mildew in any damp areas. If you see any signs of water damage, have a professional inspect the premises to determine the extent of the damage. This will help you avoid costly repairs such as mold removal or water damage restoration.

Look for indications of pests

Pests are another common problem in old homes. Look for droppings, nests, or damage to woodwork or fabrics. If you see any signs of pests, have a professional exterminator inspect the premises and treat the problem accordingly.

A good idea would be to have the pro do a perimeter treatment to avoid any critters from getting in. Namely, professional pest control companies like Aptive Environmental can do this for you.

Inspect the roof

Another crucial thing to do when moving into an old home is to inspect the roof. Check for missing or damaged shingles, and make sure that the gutters and downspouts are in good repair.

If you see any signs of damage, have a professional roofer inspect the premises and make the necessary repairs. For instance, if you’re buying in Texas and are looking for Austin roofing specialists, you should do research locally or ask for recommendations. While this might cost you some money upfront, it will save you a lot of money in the long run by preventing costly leaks or other damage.

Look for signs of damage to the structure of your home

Structural damage is a serious problem that can jeopardize the safety of your home. Look for cracks in walls, floors, or ceilings. Also, check for doors or windows that don’t close properly. If you see any signs of structural damage, have a professional engineer or architect inspect the premises to determine the extent of the damage. This will help you avoid costly repairs such as foundation repair or replacement.

Check the electrical system

Old homes often have outdated electrical systems. Have a professional electrician inspect the wiring and outlets to ensure they are up to code. This is especially important if you plan on doing any renovations that would require additional electrical work.

The plumbing system should be checked.

Older homes often have outdated plumbing systems. Have a professional plumber inspect the pipes and fixtures to ensure they are up to code. This is especially important if you plan on doing any renovations that would require additional plumbing work.

For example, adding a new bathroom or kitchen can be a major undertaking, however, if the plumbing is not up to code it can lead to expensive repairs. This kind of work should only be done by a professional.

Check for asbestos

Asbestos was commonly used in construction until the 1970s. If your home was built before that time, there is a chance it contains asbestos. Asbestos is a dangerous material that can cause serious health problems if it’s disturbed. If you suspect your home may contain asbestos, have a professional test for it and remove it if necessary.

Check for lead paint

Lead paint was commonly used in homes before 1978. If your home was built before that time, there is a chance it contains lead paint. Lead paint is a dangerous material that can cause serious health problems if it’s disturbed. If you suspect your home may contain lead paint, have a professional test for it and remove it if necessary.

Have a professional home inspector check the property

A professional home inspector will check for all of the above issues and more. This is an important step in the buying process, especially if you’re considering an older home. A home inspection report will give you a good idea of what repairs may need to be made. It will also give you peace of mind knowing that your new home is in good condition.

Although it may cost you some money upfront, it’s important to have a professional inspect your new home before you move in. This will help you avoid costly repairs down the road. By following these tips, you can be sure that your new home is safe and sound.

How Much Does A Home Inspection Cost?

A home inspection is a crucial factor in buying and selling homes as it is the visual assessment of your house featuring detailed evaluations of its physical structure and mechanical systems. The home inspector’s report is intended to inform you about a home’s condition so you can make a more informed decision about the property.

Home inspections are common in the “due diligence” period of the home purchase process and can protect both sellers and buyers from future liability. It also provides helpful tips for how homeowners can maintain their houses in the best possible way.

One common question during the home buying process is how much does a home inspection cost? Generally, a potential homebuyer will cover the cost for an inspection and the fee is paid up front or at the time of inspection.

How Much Does A Home Inspection Cost?

Generally, a home inspection will cost between $350 to $700. Notably, some home inspection companies charge as low as $250, however the inspection may not be as comprehensive as others or might exclude certain items such as a structural inspection, termite inspection or a roof inspection. Unlike lender and title fees, which are closing costs paid at closing, you’ll pay the inspection company directly.

Be sure the ask for a list of everything that is captured by the given provider before paying. As of 2023, the average cost for a home inspection in the US was $394.

Average Inspection Cost By City

Our team researched online pricing and also contacted more than 70 inspection companies in the US (10 inspection companies per city). Based on our independent research, here are the average prices for 7 major US markets.

Atlanta: $428

Dallas: $456

Los Angeles: $501

Miami: $477

Orlando: $375

Phoenix: $402

San Francisco: $523

Add-On (Optional) Inspection Costs

It is noteworthy that your final price may fluctuate from these averages if additional services are added, such as the ones below:

Septic inspection: $250

Air quality or mold test: $200 – $300

Termite inspection: $0 – $100

Radon test: $200 – $300

Pool inspection : $200 – $250

Factors Influencing Inspection Cost

A home inspections primary purpose is to evaluate the condition of the home’s key feature – such as the roof, exterior, plumbing, etc.

In addition, a home inspection also includes the inspection of specific systems that make the house liveable. The American Society of Home Inspectors has compiled a list of the following systems that are commonly covered during a home inspection. These items below should all be checked by your home inspector:

● Heating system

● Central air conditioning system

● Interior plumbing

● Electrical systems

● Insulation and ventilation

● Fireplaces and fuel-burning appliances

How Does a Home Inspection Work?

As the homebuyer, you’ll have an inspection contingency (aka due diligence), which provides a period of time for you to perform an inspection of the property. Either you or your Realtor can book the inspection once you’re under contract on the new home.

On the day of the inspection, a certified home inspector will typically spend 1-3 hours at the house evaluating the property and creating an inspection report. The inspection report can be used to negotiate repairs or even negotiate a lower price on the house.

Who Pays for the Home Inspection?

During the due diligence period, the homebuyer will pay for the inspection. However, the seller will often pay for repair requests based on the inspection findings. When the seller offers to a monetary credit towards repairs, this is referred to as a seller concession or seller credit.

The Final Take

A home inspection is a critical part of the homebuying process. It determines the condition of a home and assesses the maintenance issue before you make a purchase. Unless you’re buying the home as-is, the inspection report can be used as a tool for negotiating a lower price for the home or requesting repairs from the seller.

It is vital to note that the inspection generally costs the buyer as the homebuyer pays the inspection fee. But, sometimes sellers inspect the home before listing it for sale, which is considered a savvy way to uncover issues before listing the property.

If the inspection determines any issue related to the structure or mechanical systems, the seller may be willing to make repairs depending on the nature of the contract. Also, homeowners often avoid inspecting a newly constructed home, however a home inspection is crucial, whether it is a newly constructed home or a resale property.

How to Wire a Three Way Switch

A 3-way switch is very handy as it enables you to switch on a light fixture from two different parts of the home. Sometimes people get confused about wiring a 3-way switch because it is not as common as a traditional, one-way switch.

But if you’ve installed a single pole switch, following this guide should be easy. This guide will teach you how to wire a 3-way switch through a step-by-step process.

What is a 3-Way Switch?

A switch that has three screw terminals for electrification connections and allows for a light fixture to be controlled by two light switches from two different locations.

Related: Buy a three way switch on Amazon for less than $8

How do You Wire a 3-Way Switch?

With 3-way switch wiring, there is an extra wire called the traveler because it joins two switches with each other. Identifying the correct wires will ensure the you follow the below steps correctly.

1.   Turn Off The Power At Circuit Panel

Go to the electrical panel in your home and turn off the power for the particular breaker where the 3-way wall switch is placed. If you’re electrical box isn’t labeled, you may have to find the correct breaker by trial and error.

Tip: Recheck the circuit panel to see if the power is appropriately off. You can try switching the light on and off to ensure the electricity is turned off. Alternatively, you could turn off all of the breakers and use a flashlight.

2.   Disconnect The Old Switch

Remove the cover plate from the first switch box by removing the screws and checking the last switch. Next, loosen up the fasteners that are holding the actual switch in place. Carefully pull the switch from the hole.

3.   Identify The Wires

In a 3-way switch circuit, there will be three wires: one black (hot wire), one white (or neutral wire), and one copper (or ground wire). Depending on the type of Romex or the age of your wiring, you may not have red wiring and therefore can ignore the red wires in the diagram below.

  • Black wire: The black wire is the load or hot wire that carries the voltage through the switch. In a light switch, the black wires connect to the brass screws on the sides of the switch, referred to as the terminal screws.
  • White wire: The white wire is known as the neutral wire.
  • Copper wire: The bare copper wire, that is not covered, is considered the ground wire. It can also be green or green with a yellow stripe. In the switch, the ground wire is attached to the green grounding screw.

4.   Identify Wires In Second Switch Box

Repeat the process with the second box. If you find two black wires or a multi-colored wire, you can test each to determine which one is hot or if there is more than one hot wire.

6.   Disjoint The Wires

Once you label specific wires and get an idea about what each wire does, disconnect them. Loose the screws from the terminal by twisting off the nuts of the wire. The uncovered wire ends will get visible, which does not connect to the switch anymore.

7.   Install And Connect The New 3 Way Switch

Finally, attach the new switch but ensure that both switches are identical. A 3-way switch is different from a single-pole switch, and it is important to use the correct type of switch for your application.

Check for the terminals and common wires in the new switches you install. With common terminals, connect the common wires.

Now attach the red wires at the exact location of the upper right or left part of the switches in both boxes.

Connect the second traveler wire of both boxes to the open upper ends, which are not utilized by the red wire.

With the help of a wire nut, twist the neutral white wires and then turn and fix the three ground wires in the primary box. Attach the shortest ground wire terminal with the green end of the switch.

Now move towards the second box and join the ground wire to the switch’s brass or green screw.

8.   Place Switch Covers And Test Switches By Turning On The Power

Once all the wires are correctly attached, close the switches into the box. Reinsert the switch plate shields. Turn on the power source from the circuit panel.

Finally, test the switches by turning them off and on.

Conclusion

Adding a three way light is a great idea for added convenience for your family. Other potential upgrades to your home lighting include installing LED lights, replacing old ceiling fans and installing solar lights around the exterior of your property. Use caution with the hot wires and refer to our switch wiring diagram if you get stuck. Light switch wiring is predictable and easy to manage once you’ve learned the basics of how your fixtures are controlled and the typical wiring configuration.

What is a Barndominium?

People who love living in classic yet vintage houses can’t ignore a gorgeous barndominium. If you’re looking to build a new house that you want an open concept with style and timeless flare, you might consider a barndominium. They’ve boomed in demand the last few years and have quickly become one of the most popular types of home to build.

So, what is a barndominium? In general, a barndominium is a structure that merges the design of a modern house with a traditional barn. The term “barndominium” is a blend of the words “barn” and “condominium.”

Barndominiums can be constructed from scratch or adapted from an already-existing farmhouse or barn by adding a living area to the building. Barndominiums combine a barn’s framing structure with modern or urban architecture to produce a cutting-edge fusion of two worlds.

Getting To Know Barndominium

The original concept emerged when landowners transformed former barns into residences. As you probably know, most barns are designed for animals, livestock, farm equipment or for the storage of animal feed. In other words, in the past barns had not been inhabited by people – but rather animals.

Barndominiums can be constructed in several different ways – including wide open, single-room barndominiums or huge, 7 bedroom properties. In other words, some barndominiums are as small as 800 square feet of living space and others are larger than 5,000 square feet. Plus, some barndominiums incorporate more than one barn to make a massive home.

Modern Barndomium

Benefits Of Barndominiums

If you’re considering building your own home, it’s worth comparing the timeline and process of a barn home versus a typical production/tract build from a large, corporate homebuilder.

1. Fast construction timeline
If you use a pre-fabricated, metal frame, the amount of time it takes to build the structure is significantly reduced. You can have your main structure ready in 30 days, in most cases.

2. Versatility for work/life balance
Barndominiums provide a versatile option for remote (work from home) employees or small business owners.

3. Tons of storage
Most people use their garage for storage. But with a barndominium, you can create a large loft, a partitioned storage area or a finished attic space to store items.

4. Green/Eco-friendly
Many barndominium use recycled material, metal roofs, or environmentally friendly construction products. The can also be surprisingly energy efficient, despite typically having tall ceilings and open rooms.

Cost to Build a Barndominium

Based on our research and depending on your area, most builders are quoting $150 – $300 per square foot to build a barndominium in 2022. Of course, this does not include the cost of land.

The total cost will depend on several factors, including the size of the building, the location, and the materials used. Building a barndominium in a rural area is usually less expensive than building one in a more urban location. Additionally, the cost of materials can vary significantly based on the quality and type of materials used.

To get a better idea of the cost to build a barndominium, it’s essential to have a detailed plan and work with a reputable builder. A general contractor can help you determine the best materials and design for your needs while staying within your budget. Additionally, it’s important to factor in permits, utilities, and site preparation into your total barndominium cost.

Types of Barndominiums

1- Pole Barn: A pole barn is constructed using vertical posts or poles that are anchored into the ground, with horizontal beams and trusses that support the roof. The walls of a pole barn are often made of metal or wood siding, and the roof can be made of metal or shingles.

Pole barns are known for their durability, affordability, and versatility. They have historically been used for agricultural purposes but when built as a residence, usually include a large open living space, a kitchen, and one or more bedrooms.  A pole barn is relatively easy and quick to construct, which makes them a cost-effective option. They also require fewer materials than traditional buildings, which can save on construction costs.

Pole Barn in Classic Red

2- Modern Barn: A modern barndominium has a sleek, contemporary design that combines industrial and rustic elements. These types of barndominiums usually feature large windows, minimalist interiors, and modern finishes.

3- Dutch Barn: A Dutch barn is a type of barn characterized by its gambrel roof, which has two slopes on each side. The roof’s design creates more headroom and storage space in the upper part of the barn. Dutch barns were commonly used in Europe in the 16th and 17th centuries and were introduced to North America by Dutch settlers in the 18th century.

The Amish, a religious group known for their simple and traditional lifestyle, have used Dutch barns as residences in many cases. They often use the upper level of the barn as living quarters, with the lower level serving as a workspace or stable for livestock. These types of barns are sometimes referred to as “bank barns,” as the lower level is built into the side of a hill, allowing for easy access from the outside.

Dutch Barn

4- Two-Story: A two-story barndominium is designed to maximize the available living space by adding a second level. These types of barndominiums often feature large open living spaces on the first floor, with bedrooms and additional living areas on the second floor.

5- Custom: Custom barndominiums are designed to meet the specific needs and preferences of the homeowner. These types of barndominiums can incorporate any design, style, or feature the homeowner desires, making them highly personalized and unique.

Types Of Barndominiums Flooring

If you’re building your dream barndominium from scratch, here are several types of flooring to consider for your new home:

1. Barndominiums With Vinyl, LVP Flooring or Engineered Wood

Because most barndominiums have a concrete/slab subfloor, floating floor products are very common. Luxury Vinyl Planks are water-resistant and ideal for laying on top of concrete. The lifespan of vinyl flooring is between 10 and 20 years. Engineered wood floors are also an excellent option for maintaining a rustic or farmhouse look.

2. Barndominiums With Stained Concrete Flooring

Stained concrete floors are a fantastic choice and probably the most common style you’ll see with barn homes. The benefit of this sort of floor is how simple it is to maintain and how stain-resistant it is. They are available in various hues or stains and are known for having low maintenance costs.

3. Barndominiums With Tile Flooring

Ceramic or porcelain tiles are excellent at controlling heat. Tile flooring is available in many patterns and sheens to complement your barndominium decor and could be ideal for barn homes located in warmer climates.

Conclusion

One of the residential housing trends with the quickest growth rate is barndominiums. As remote work and working from home continue to grow in adoption, consumers are expected to seek alternatives to the ordinary, traditional home. And as the building process becomes more common, we expect the cost per square foot to stabilize, making the barndominium concept accessible for many more homebuyers.

They provide a truly unique structure that is unlike any other property. Keep in mind that many HOA’s or communities may prohibit these types of structure unless first approved by a local board or municipality.

How to Prepare for Mortgage Pre-Qualification

You’ve decided to purchase a house, but what should be the first step in your home-buying journey? Before you even start browsing properties for sale, it’s a good idea to know how much money you may be able to borrow toward your new residence.

One way to estimate how much you will be able to finance is through the mortgage pre-qualification process. While it doesn’t guarantee mortgage approval, pre-qualification is a helpful tool for the early stages of your home search. Read on to learn how pre-qualification works, how it differs from pre-approval and how to get pre-qualified by a mortgage lender.

How Does Mortgage Pre-Qualification Work?

According to the Consumer Financial Protection Bureau, mortgage pre-qualification is:

“A request by a prospective loan applicant for a preliminary determination on whether the prospective loan applicant would likely qualify for credit under an institution’s standards, or for a determination on the amount of credit for which the prospective applicant would likely qualify.”

Pre-qualification is an essential part of the initial homebuying process that helps you to consider relevant mortgage options and better understand where you stand when it comes to your budget. While not as accurate as pre-approval, pre-qualification plays a vital role as you begin looking for a home that fits your financial circumstances.

Pre-qualification is a straightforward process that can be completed in just a few minutes. When applying to be pre-qualified, your mortgage lender will base your estimate on the information you provide verbally, such as whether you are employed, how much money you earn and how much of a down payment you can afford. After lenders consider your answers, they will provide you with a pre-qualification letter that includes an estimate of your home loan and interest rate.

Mortgage Pre-Qualification vs. Pre-Approval

It’s helpful to know the differences between pre-qualification and pre-approval as you start the home-buying process. Although your pre-qualification letter will give you a good idea of the loan amount and interest rate you may eventually be approved for, it’s important to keep in mind that pre-qualifications are conditional and not guaranteed.

Unlike pre-qualification, pre-approval requires you to submit documentation and undergo a credit check. Pre-qualification is simply an estimate based on your financial circumstances as stated to your mortgage lender.

On the other hand, pre-approval calls for more in-depth scrutiny of your financial standing. During the pre-approval process, lenders will consider several factors in determining how much money you can borrow to put toward a home. When applying for pre-approval, you should be prepared to provide documentation that details your:

  • Personal identification
  • Employment verification
  • Proof of income
  • Credit history
  • Debt-to-income ratio
  • Proof of assets

While the pre-approval process gives lenders a much more detailed and accurate view of your creditworthiness and ability to make your mortgage payments, pre-qualification offers a quick and easy way to get an idea of what price range to keep in mind when you start house hunting.

How to Get Pre-Qualified

Ready to get pre-qualified? Reach out to the mortgage lender of your choice to start this simple process that doesn’t require any documents or hard credit checks. After asking a few questions about your finances, the lender will provide you with a pre-qualification letter that includes an estimate of the interest rate and loan offer you may receive. This way, you can hone in on the houses that best fit your budget.

Some of the topics you may be asked about when applying for pre-qualification include:

  • Your work status and income
  • The amount you can provide for a down payment
  • Your monthly bills
  • Your existing debts

While applying for mortgage pre-qualification is not required, it’s an important step to consider when first shopping for a home. While not legally binding or guaranteed, it provides an estimate of what you are likely to expect when applying for a home loan. Pre-qualification is a useful tool that helps you better understand your current financial situation as well as the range of prices you should consider while house hunting. Take a step toward homeownership today by applying for mortgage pre-qualification.

What is Commercial Security?

Commercial security consists of a set of tools or systems employed by a business to safeguard and protect its assets. Employing commercial security systems in San Jose can offer you protection against theft, vandalism, fire, intrusion, and other undesirable events.

Most importantly, it can provide you with the peace of mind that your business assets are secure so you can focus on your business. There are over 25,000 property crimes reported in San Jose every year. Please continue reading to learn how you can protect your business with a commercial security system.

Commercial Security Defined

Security systems used for commercial areas are similar to some advanced home security systems; however, there are a few significant differences. For example, commercial security systems are designed for larger premises and often have a wide range of cameras. In addition, a residential security system is typically monitored by a single individual or a few people. In contrast, a commercial security control system could have multiple personnel to monitor the surveillance footage.

Office security encompasses a variety of tools and systems utilized by businesses to safeguard and protect their assets. A commercial building can have many access points, increasing security risks. Areas such as parking lots and multiple entryways of a commercial building cannot be monitored without an advanced alarm and surveillance system. For instance, a door card reader system can be installed to keep unwanted guests from the building. Commercial-grade door access systems, such as the card reading system, can be programmed according to the needs of the business. You can also get a technician to teach your staff how to program, edit, and maintain this system.

Access control offered by commercial security systems provides a turn-key solution to controlling who can access the business premises. This system can also be used for employee attendance. In addition, some commercial security systems offer customized visitor management solutions to help streamline visitor processes.

All commercial buildings require an effective fire alarm system and smoke and carbon monoxide detection sensors in ducts. Duct smoke detectors will detect if there is a fire and automatically initiate the fire control protocol. These systems are designed to give an immediate response to control the fire hazard in the building.

The security systems used in commercial buildings involve a lot of high-tech equipment, including intrusion detection tools. For example, many commercial buildings have burglar-proof frames on the windows and use high-tech locks for drawers and storage compartments that contain sensitive data.

With interactive commercial-grade security systems, it is easier to get business insights and manage employee access because it limits any service interruptions and operational inefficiencies and prevents business assets from being tampered with or vandalized. You can customize alerts in these security systems to monitor all business activities from multiple locations. If anyone disarms the security system or accesses the secure area of the business, you can get alerts on your phone.

Another feature of commercial security is they can use specialized software to reinforce the security system. For example, a retail security provider can deploy video analytics software. Video monitoring software would give you instant visibility to any critical operations occurring within your business. It can also help you manage business energy costs. For example, the software can provide automatic alerts from motion or heat detection sensors.  

Laws Regarding Commercial Security Systems

Similar to the laws of residential security systems, a commercial security system cannot be used in any way to undermine or violate the privacy of others. For example, you cannot place a surveillance camera in an area where people expect privacy. This means that there can be no cameras in a commercial building in toilets, showers, bedrooms, changing rooms, or other private areas.  

Before installing a commercial security system in public areas such as parking lots, lounges, conference rooms, or meeting rooms, state, federal, and local laws should be consulted. Most laws permit businesses to install surveillance cameras in appropriate places to secure their premises and activities, but there can be restrictions on audio recording through surveillance systems.

In residential security systems, audio and visual footage of the area can be recorded. However, in commercial buildings, if a business wants to record audio in non-private places, it would have to seek consent from everyone involved. In addition, recording audio through hidden cameras installed within the business premises can be illegal in most states.

To avoid the hassle of learning about laws and finding the right equipment for your business, you can hire a reputed commercial security system vendor who is familiar with laws regarding such systems and has access to the best tools required to protect your business assets.