In this economy, it can be hard to live in an expensive home or community. While it may have once been affordable to live in a city such as Manhattan or to live in a large home, the current economy is tightening budgets everywhere, and the wisest thing to do may be to move to an area which is more affordable or to sell your home and rent a smaller place. Living in a more affordable place can give someone who is suffering the woes of this bad economy more financial freedom in their life.
Best Places For Families
For families with young children, it is important to consider where the best places to live in this bad economy would be to ensure that their future is prosperous. Living in a more expensive community is a luxury, which in this economy would not be the smartest choice for a family with young children.
It is important to save money and live frugally, and ensure that they will be well supported, even if that means moving to a smaller home or less expensive neighborhood. In the consideration of future education costs, moving or scaling down the size and costs of the home could help to secure funds for college educations. There is always time to move to a larger or more expensive home in the future once your children are out of college and working themselves.
Best Places for Individuals
For individuals who are in college, just out of college, or who have a lot of freedom, cities are the best places to live in this bad economy for finding a better or more high paying job. Cities, rather than suburbs, offer more concentrated job opportunities. It is also easy to live and work in a city using public transportation. In a suburb, the use of a car is usually necessary to travel between destinations. Using a car to travel, adds more expenses than using subways and buses for transportation.
Cities also have a lot of apartment housing, which can be a more affordable option than living in a house. In addition, cities tend to have a larger and more concentrated population of young people who are all in the same situation. These young people need to reduce the cost of rent by sharing a living space with a roommate. A city is a great place to find a friend who is willing to split the cost of a living space.