After years living in dorms and apartments, I'm proud to have finally purchased my very first home.
Why it matters: It's one thing to write about the local real estate scene and another to experience it firsthand.
The big picture: I've moved 15 times in 15 years, thanks to college, job changes and greedy landlords.
Yes, but: Renting isn't sustainable, either.
- I ditched my first Columbus apartment after rent suddenly spiked by 55%.
- The next place tried to illegally raise the rent in the middle of my lease.
State of play: With my student loans paid off and a growing toddler at home, our family took a calculated risk to start looking at houses in January to beat the anticipated jump in demand this summer.
The intrigue: As my search started, our newsletter published these 2024 real estate predictions from Columbus Realtors president Scott Hrabcak:
💵 It will remain a sellers' market.
- My take: No doubt. Our house racked up hundreds of Zillow views within hours of hitting the market and many other prospective buyers lined up to tour it.
- We had to make concessions to provide a competitive offer, but thankfully the deal didn't fall through as happens often in this market.
Data: Redfin analysis of MLS data; Chart: Axios Visuals
🔥 Falling interest rates will stoke the fire.
- Mostly true. Rates peaked at 8% last year, and have dipped only slightly since then.
- We're crossing our fingers for a chance to refinance in the coming years.
⭕ Columbus' outer ring will expand.
- Yep. I've lived on Columbus' west side near Hilliard and hoped to stay there.
- But there were few properties in my price range, so we looked beyond the outerbelt in places like West Jefferson and Canal Winchester.
![https://img.particlenews.com/image.php?url=4Is2Nq_0s5GZ0UR00](https://img.particlenews.com/image.php?type=thumbnail_580x000&url=4Is2Nq_0s5GZ0UR00)
Newark is known for its ancient earthworks and former Longaberger Basket headquarters. Photo: Jeffrey Greenberg/Universal Images Group via Getty Images
In the end, we settled on an old house with good bones in Newark.
- Our neighborhood has a quiet, small-town feel, but we're just minutes from every store, restaurant and public resource we could ask for.
- And we're anxious to see how the area might grow, being just down the highway from the new Intel project .
📬 What was your first homebuying experience like?
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