#The countries & US states that offer the cheapest retirement lifestyle
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The countries & US states that offer the cheapest retirement lifestyle https://vividmaps.com/cheapest-retirement/
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blackburnraymond95 · 4 years ago
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using life insurance to pay for college
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using life insurance to pay for college
using life insurance to pay for college, a new student, or when the child has a good grade point average. As with all of the other types of insurance policies, this one is highly general in its stated focus. These policies are all called . There are different kinds of insurance and depending on where you live in the country, these will usually be the same. These policies are very similar to , except that each company will make a separate application and each policy costs a little more. If you want a life insurance policy that’s aimed at protecting you financially, through the . Since the insurance rates for can be quite high, the policy is the cheapest one available to most people. The insurance for car-related deaths has a certain amount of coverage to keep in reserve, which means that it will take some time for your loved one to get through the death of a major cause. You may have heard that once a spouse has died, it can take months to build up a savings and assets to support a family. using life insurance to pay for college or for an emergency medical diagnosis. While some financial planners, financial advisors, and tax professionals recommend getting separate life insurance coverage for life, the fact is most Americans should review how they plan life insurance to ensure they are financially protected in the event of their spouse s death. One of the first steps to purchasing a separate insurance policy for your loved one is to determine how much the coverage would cost, and then purchase the insurance coverage as needed. Because of the way individual insurance is regulated, your personal financial situation will determine the amount of your premium. It is also important to think about that, and if you don t, you need to shop around. A great way to get together is through some discussion with your spouse. If your spouse is the policyowner of the individual policy, and also has a life insurance policy, they could either split up the policy and continue to contribute to the policy with one spouse, or both, depending on their overall financial situations. A second option would be to purchase a. using life insurance to pay for college. As a result, some students would have to pay for that insurance in the form of tuition and fees instead of in-house. As a result, it could be a serious financial disadvantage for the students. It might be a surprise for a student to be shopping for health insurance. For an undergraduate student, it really is in their control! In fact, many students who are planning to start their careers can do so for free! That’s why it can be very difficult to enroll in the university’s health insurance program at any level. However, as you may already know, it’s not that difficult to obtain health insurance! So let’s get started on this insurance shopping technique to help you make the right decision. What is the worst health insurance company for students? The first thing that should be considered when determining student’s risk profile is the insurance company. If you are a company owner with an insurer, as we will discuss, it shouldn�.
Insurance by state
Insurance by state Insurance by company Insurance by company Auto InsuranceErie Insurance Liability insurance by state Liability insurance by state Liability insurance by company Liability insurance by state Liability insurance by state Local government Local government Commercial auto insurance Other non state Other non state Recap: L.A. Insurance pros and cons • Competitive pricing • Strong IMO ratings • Good customer service • Excellent rates • Larger networks • No complaints if you have a bad driving record • Very frustrating to deal with if you need a tow truck • Largest network of insurance providers by miles • Good rates for low rates • Good online tools • A great customer website • Good rates Auto insurance ratings methodology NerdWallet’s auto insurance ratings reward companies for customer-first features and practices. Ratings are.
What is Cash Value in Life Insurance?
What is Cash Value in Life Insurance? It might seem counterintuitive to take the trouble to get cash value in life insurance, but life insurance cash (cash as loss) can be used for everything from taking a vacation, paying off a mortgage, taking a vacation to the US or anything else necessary to save money for retirement. Many people think that life insurance will let you buy a large amount of your cash value back. However, cash value is not the correct answer. If you want to buy a large amount of money back, you should actually get a smaller amount of your cash value built back into the policy. At that point you won’t receive a return of your policy due to the money you have. Since the policy limits are low, your policy’s cash value will almost always be used for anything that you need it to get. There are a number of reasons for the high cost of life insurance (even those that do not count as loss when you get the policy). The majority of these reasons include either lack.
Life insurance vs 529 plans
Life insurance vs 529 plans.  For a list of companies that allow you to use social media to shop for cheap health insurance, click . You’ll be forwarded to healthcare.gov, where you can compare and get health insurance quotes. When you sign up for Obamacare, or Health Insurance Marketplace online health insurance companies have more freedom to set your rates. You’ll be asked to do everything online. You’ll have a choice, but there are a few things you’ll be asked to do to qualify: The from employers that offer employer benefits are similar to traditional insurance plans: You’ll likely be able to choose the plan you want and still save money by getting coverage through some types of insurance. Many plans offer discounts for having more than one individual policy, which many plan sponsors offer for discounts on health insurance. Before you enroll in your plan in your state, and if you have questions about how to stay covered, you might want to explore some . Some plans offer coverage.
Insurance types
Insurance types and levels Insurance companies don’t just look at how old you are, they also rate you based on your age, health, hobbies, and lifestyle. If you’re a smoker, and you don’t use tobacco (or if you’re overweight) in addition to your tobacco, a company might consider adding a tobacco user to your policy. In addition to the general lifestyle and health risks associated with smoking (and other risks), smoking-related injuries and deaths can also be expensive per year during pregnancy, which could lead to expensive medical bills as well. If you smoke and you’re looking to lower your insurance premiums, try lowering    before an exam to see how much you’ll need. Some plans may also include some form of an extended medical exam, but there is no guarantee that they will suit your needs or wallets. If you’re in search for less expensive insurance, a plan offered by any insurer may have coverage for.
Cash Value Life Insurance FAQ
Cash Value Life Insurance FAQs What is the lowest price for life insurance coverage? The cheapest insurers for life insurance under $1 million usually only cover $1,000 to $1,200 more than the lowest premium rates. This is a good place to start. The best rates for permanent life insurance for seniors: $10,000 to $25,000 and die within 5 years A term life insurance policy that expires 20 years or so How do I get term life insurance quotes? To get the best prices, enter your zip code in our FREE quote tool. We will compare and evaluate your individual circumstances based on all of the below factors and will give you the best rate possible. No medical exam for life insurance but we recommend doing this when you have any questions or concerns about applying. How to determine life insurance rates for underinsured/uninsured Insurance companies use in vitro and in vivo to analyze the exact molecular structure of a cell, helping the underwriter know.
5 reasons why buying life insurance as a college savings plan is a bad idea
5 reasons why buying life insurance as a college savings plan is a bad idea. This information can help you determine if you need the life insurance coverage. What is term life insurance? Term life insurance is life insurance that will cover the insured’s term for a specific period of time. Typically the life insurance company is going to pay a specified amount of death benefit when the policyholder passes. This payout does not go towards the paying of any debt, which can affect the death benefit amount of a life insurance policy. Term life insurance also has a savings component that builds cash value and covers the cost of providing life insurance coverage. Term life insurance is different in that it does not pay benefits. There is also a savings component to any life insurance policy. In fact, if you have term life insurance your beneficiary will have a certain amount of coverage for the duration of your policy. When purchasing life insurance as a college, you will often see a premium increase if the applicant is between the age of 16 and 26.  There are some instances as you age (less than 26.
Is buying life insurance as a college savings plan a good idea?
Is buying life insurance as a college savings plan a good idea? Let’s go. We’ll look to see what parents could think, as they might be in a situation where they would need both an answer to who is likely to die. So let’s say the person is a college student. If you need any help getting their parents the life insurance policy you could have, then you’re likely looking at the two ways they can use you. Here are the most popular options: The second option is to take out a policy that you name your spouse. The only one it’s not important, it’s the best. If both are elderly or have some health issues, this option will provide the best coverage for both parties. We could go a step beyond this for the second option. Let’s talk about how to use life insurance as a secondary or guaranty fund if you haven’t paid your bills on account of financial debt they may incur and the money that you could use for those.
Tax Advantages of Cash Value Life Insurance
Tax Advantages of Cash Value Life Insurance In today’s market, cash value life insurance can be used with a wide range of policies. Most importantly, a typical cash value life insurance policy can simplify the management of outstanding loans and insurance obligations. For example, there may be a fixed interest charged to determine a policy’s death benefit. In other situations, cash value life insurance can be an option if one is already there. For people with high income who can’t pay the mortgage, a cash value cash value life insurance policy can provide the means to manage this loan without any financial mess. A cash value life insurance policy is much like your car insurance or . A cash value life insurance policy will never be canceled after the term of the policy has expired. The cash value of your policy will never be depleted. When the loan is no longer needed and you are able to keep it paid up, then the policy will not be canceled. The insurance you must carry will be flexible. Depending on the type of.
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boldlykeenblizzard · 5 years ago
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What’s stopping millennials from buying term insurance: 4 Habits that are blocking the way
As per a leading survey, only one out of five life insurance holders have term insurance in urban India. Considering it is a generation that stands by the maxim of living life to the fullest, term insurance can be a hard subject to sell. Millennials, after all, have a vast array of interests and like to make the most of their disposable incomes, often leaving them oblivious to the uncertainties of life. Added to this, they are also habitual procrastinators who know that they need to protect themselves with an agile insurance plan but are too laid back to make the move of buying it. This squarely is one of the biggest reasons why insurance planning has been pushed to the backburner even by people earning sizable paychecks. Considering millennials make up for 46% of India’s workforce, and contribute a whopping 70% to the country’s household income, unhealthy insurance habits among this demographic is concerning. This is why to bolster their long-term financial health, millennials need to reevaluate the way they are handling money and dip their toes into the slew of insurance instruments that are available in the market.
Statistical evidence suggests that nearly half of the millennial population in India are economically optimistic and have always wanted to buy insurance policies but discarded the plans because of a slew of reasons like the initial cost of buying them, convoluted paperwork, the lack of time, and unawareness among others. A survey conducted by a leading insurance company states that only 45% of the millennial respondents aged between 25 to 35 have heard of term plans and barely 17% have bought such policies. This clearly indicates that a fixed roadmap is what this generation needs to make the best of their money and invest in risk-management instruments that can help them against uncertainties in the future and help their loved ones lead a stress-free life. So, why does term insurance lack uptake in urban India despite being the most fundamental and cheapest form of financial protection? Data by the Insurance Regulatory and Development Authority of India (IRDAI) states that only 25% of the Indian population has life insurance cover and this is a staggering reveal. If we are to go by the trends, misconceptions and flawed lifestyle habits seem to be the answer. Let’s take a look at four crucial factors that are obstructing the insurance journey among millennials, shedding which can help them get off the sidelines and become wholistically independent.
Habit 1: The assumption that insurance is expensive
One common insurance misconception that most millennials have is that it is expensive. This is mostly because they do not have a clear understanding of the available policies in the market and assume the cover amount without seeking help from a financial advisor. In fact, a study conducted by Economic Times with a top Indian insurance company revealed that 57% of people that own term insurance don’t have any awareness of the sum assured on their policy. Truth is that term insurance is one of the least expensive ways to purchase death benefit or accidental insurance. One simple thumb rule is to stay adequately insured is to invest 10-12 times of your annual income, irrespective of what your age is. If term insurance is bought earlier in life, the premium that one has to pay is also significantly lower. This is because the younger you are, the higher your life expectancy is. As one approaches other life milestones like marriage and parenthood, these covers are instruments of safety and economical coverage for dependent family members as well. Further, they also allow buyers to save tax under Section 80C of the Indian Income Tax Act. Most of these policies come at very economical premium rates, with insurers offering term insurance coverage with a return-of-premium option. This means that the policy also allows subscribers to benefit in the shape of premiums paid towards the policy, after the maturity of the policy term. At the end of the day, a term insurance policy, apart from providing you with all-round financial security, offers far more on the sum insured than the amount of investment you must have made.
Habit 2: A tendency to be risk-averse
The millennial approach to money is in many ways risk-averse because they have high expectations from life and like to spend money on good things, making them retain a large part of their income for recreation. This also means that they are hesitant about investing in an instrument where there is no immediate return. The lack of long term planning is, therefore, one of the biggest deterrent for millennials on the road to insurance. In case of an unfortunate event, term insurance can go a long way in bringing about financial stability by giving out claims as lump sums and/or monthly payouts.
The fact that people are aware of life insurance but don’t know about term insurance, this becomes a hurdle. A term insurance plan is actually a life insurance plan but for a fixed period of time (term). Once a person takes out a term insurance plan, she/he is insured for the term of that plan. In the event of the person’s demise within the term of the plan, the main corpus (sum assured) is paid by the insurer to the person’s nominee. The amount provided as death benefit in term insurance plan is much higher than the maturity benefit offered by life insurance policies. This means that a term insurance is also more economical than a normal life insurance plan. But research states that 65% of urban Indians have purchased a life insurance policy but only one out of five people have bought term insurance. This can mostly be attributed to the lack of awareness in people about term plans offered by insurers that also include a critical illness cover as a rider or as an inbuilt feature in the base plan. On diagnosis of covered critical illness, all future premiums are waived off and the policy continues and in case of demise from a critical illness, your family gets the respective sum assured as per the policy agreement.
Habit 3: Keeping insurance at the bottom of the priority pyramid
The millennial generation likes to go with the flow and are not big-time planners. This explains why their financial journey is also equally sporadic! Most of them do not see insurance as a necessity because they think they are leading a healthy and active life. A recent survey reveals that for 45% of Indian millennials, health is a top-most priority. Unfortunately, they haven’t been able to connect the dots between health and term insurance. The benefits of a term insurance policy starts reflecting only in the long run and it is easy to assume that it is not paying off- but it is! The ideal approach is to choose the specific term insurance policy according to the life stage one is at. For example, if you are an unmarried millennial, it is important to buy the right policy to ensure that your parents do not face any financial constraints if you are not around. Similarly, if you are married and/or are a young parent, it is important to buy an all-round cover that can take care of financial obligations even in your absence.
ET Spotlight
Habit 4: Making only goal-oriented investments
A recent survey by ET concluded that about 60% of millennials are of the opinion that investing in any financial instrument should have an ultimate goal- like buying a car, a house, or planning for retirement. While a goal-led investment approach is important, it is pivotal to invest in instruments that can help millennials prepare for the unexpected. Many millennials are unaware that buying term insurance does not necessarily have to be delayed until they reach the major milestones of their life- like marriage or parenthood. In fact, the earlier one purchases term insurance, the lower is the premium that has to be paid. Currently, the India Protection Quotient (IPQ)- the degree to which a person feels secure from life’s uncertainties, stands at 35 on a scale of 1 to 100, giving us a clear picture that all is not well when it comes to feeling protected against life’s uncertainties. This is why to make term insurance buying easier among millennials, HDFC Life Click 2 Protect 3D Plus offers a comprehensive online term insurance plan that offers security at the most affordable price. . HDFC has launched this plan keeping in mind the 3 Ds that stand for the three uncertainties that we face at some point in time- Death, Disability and Disease. To help millennials protect themselves and their families at an affordable cost, the plan lets buyers customize their plan with a choice of 9 plan options. Blending the best of term insurance benefits, all future premiums are also waived on Accidental Total Permanent Disability (available under all options) and on diagnosis of Critical Illness (available with 3D Life and 3D Life Long Protection options).
Most financial experts are of the opinion that term insurance should be bought the day you start earning. And why not if it helps you plan your financial journey with better clarity and insight. If you, like most millennials, are looking to brush up on your term insurance knowledge and take the leap towards a protected future, it’s time to embark on the journey with HDFC Life Click 2 Protect 3D Plus
Calculate your premium here for a hassle-free experience..
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ainvestops · 5 years ago
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What’s stopping millennials from buying term insurance: 4 Habits that are blocking the way
As per a leading survey, only one out of five life insurance holders have term insurance in urban India. Considering it is a generation that stands by the maxim of living life to the fullest, term insurance can be a hard subject to sell. Millennials, after all, have a vast array of interests and like to make the most of their disposable incomes, often leaving them oblivious to the uncertainties of life. Added to this, they are also habitual procrastinators who know that they need to protect themselves with an agile insurance plan but are too laid back to make the move of buying it. This squarely is one of the biggest reasons why insurance planning has been pushed to the backburner even by people earning sizable paychecks. Considering millennials make up for 46% of India’s workforce, and contribute a whopping 70% to the country’s household income, unhealthy insurance habits among this demographic is concerning. This is why to bolster their long-term financial health, millennials need to reevaluate the way they are handling money and dip their toes into the slew of insurance instruments that are available in the market.
Statistical evidence suggests that nearly half of the millennial population in India are economically optimistic and have always wanted to buy insurance policies but discarded the plans because of a slew of reasons like the initial cost of buying them, convoluted paperwork, the lack of time, and unawareness among others. A survey conducted by a leading insurance company states that only 45% of the millennial respondents aged between 25 to 35 have heard of term plans and barely 17% have bought such policies. This clearly indicates that a fixed roadmap is what this generation needs to make the best of their money and invest in risk-management instruments that can help them against uncertainties in the future and help their loved ones lead a stress-free life. So, why does term insurance lack uptake in urban India despite being the most fundamental and cheapest form of financial protection? Data by the Insurance Regulatory and Development Authority of India (IRDAI) states that only 25% of the Indian population has life insurance cover and this is a staggering reveal. If we are to go by the trends, misconceptions and flawed lifestyle habits seem to be the answer. Let’s take a look at four crucial factors that are obstructing the insurance journey among millennials, shedding which can help them get off the sidelines and become wholistically independent.
Habit 1: The assumption that insurance is expensive
One common insurance misconception that most millennials have is that it is expensive. This is mostly because they do not have a clear understanding of the available policies in the market and assume the cover amount without seeking help from a financial advisor. In fact, a study conducted by Economic Times with a top Indian insurance company revealed that 57% of people that own term insurance don’t have any awareness of the sum assured on their policy. Truth is that term insurance is one of the least expensive ways to purchase death benefit or accidental insurance. One simple thumb rule is to stay adequately insured is to invest 10-12 times of your annual income, irrespective of what your age is. If term insurance is bought earlier in life, the premium that one has to pay is also significantly lower. This is because the younger you are, the higher your life expectancy is. As one approaches other life milestones like marriage and parenthood, these covers are instruments of safety and economical coverage for dependent family members as well. Further, they also allow buyers to save tax under Section 80C of the Indian Income Tax Act. Most of these policies come at very economical premium rates, with insurers offering term insurance coverage with a return-of-premium option. This means that the policy also allows subscribers to benefit in the shape of premiums paid towards the policy, after the maturity of the policy term. At the end of the day, a term insurance policy, apart from providing you with all-round financial security, offers far more on the sum insured than the amount of investment you must have made.
Habit 2: A tendency to be risk-averse
The millennial approach to money is in many ways risk-averse because they have high expectations from life and like to spend money on good things, making them retain a large part of their income for recreation. This also means that they are hesitant about investing in an instrument where there is no immediate return. The lack of long term planning is, therefore, one of the biggest deterrent for millennials on the road to insurance. In case of an unfortunate event, term insurance can go a long way in bringing about financial stability by giving out claims as lump sums and/or monthly payouts.
The fact that people are aware of life insurance but don’t know about term insurance, this becomes a hurdle. A term insurance plan is actually a life insurance plan but for a fixed period of time (term). Once a person takes out a term insurance plan, she/he is insured for the term of that plan. In the event of the person’s demise within the term of the plan, the main corpus (sum assured) is paid by the insurer to the person’s nominee. The amount provided as death benefit in term insurance plan is much higher than the maturity benefit offered by life insurance policies. This means that a term insurance is also more economical than a normal life insurance plan. But research states that 65% of urban Indians have purchased a life insurance policy but only one out of five people have bought term insurance. This can mostly be attributed to the lack of awareness in people about term plans offered by insurers that also include a critical illness cover as a rider or as an inbuilt feature in the base plan. On diagnosis of covered critical illness, all future premiums are waived off and the policy continues and in case of demise from a critical illness, your family gets the respective sum assured as per the policy agreement.
Habit 3: Keeping insurance at the bottom of the priority pyramid
The millennial generation likes to go with the flow and are not big-time planners. This explains why their financial journey is also equally sporadic! Most of them do not see insurance as a necessity because they think they are leading a healthy and active life. A recent survey reveals that for 45% of Indian millennials, health is a top-most priority. Unfortunately, they haven’t been able to connect the dots between health and term insurance. The benefits of a term insurance policy starts reflecting only in the long run and it is easy to assume that it is not paying off- but it is! The ideal approach is to choose the specific term insurance policy according to the life stage one is at. For example, if you are an unmarried millennial, it is important to buy the right policy to ensure that your parents do not face any financial constraints if you are not around. Similarly, if you are married and/or are a young parent, it is important to buy an all-round cover that can take care of financial obligations even in your absence.
ET Spotlight
Habit 4: Making only goal-oriented investments
A recent survey by ET concluded that about 60% of millennials are of the opinion that investing in any financial instrument should have an ultimate goal- like buying a car, a house, or planning for retirement. While a goal-led investment approach is important, it is pivotal to invest in instruments that can help millennials prepare for the unexpected. Many millennials are unaware that buying term insurance does not necessarily have to be delayed until they reach the major milestones of their life- like marriage or parenthood. In fact, the earlier one purchases term insurance, the lower is the premium that has to be paid. Currently, the India Protection Quotient (IPQ)- the degree to which a person feels secure from life’s uncertainties, stands at 35 on a scale of 1 to 100, giving us a clear picture that all is not well when it comes to feeling protected against life’s uncertainties. This is why to make term insurance buying easier among millennials, HDFC Life Click 2 Protect 3D Plus offers a comprehensive online term insurance plan that offers security at the most affordable price. . HDFC has launched this plan keeping in mind the 3 Ds that stand for the three uncertainties that we face at some point in time- Death, Disability and Disease. To help millennials protect themselves and their families at an affordable cost, the plan lets buyers customize their plan with a choice of 9 plan options. Blending the best of term insurance benefits, all future premiums are also waived on Accidental Total Permanent Disability (available under all options) and on diagnosis of Critical Illness (available with 3D Life and 3D Life Long Protection options).
Most financial experts are of the opinion that term insurance should be bought the day you start earning. And why not if it helps you plan your financial journey with better clarity and insight. If you, like most millennials, are looking to brush up on your term insurance knowledge and take the leap towards a protected future, it’s time to embark on the journey with HDFC Life Click 2 Protect 3D Plus
Calculate your premium here for a hassle-free experience..
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dodge nitro insurance group
dodge nitro insurance group
dodge nitro insurance group
BEST ANSWER: Try this site where you can compare free quotes :insurecostfinder.top
SOURCES:
dodge nitro insurance group
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emmboyyd-blog · 7 years ago
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Can Life Insurance For Seniors Over 70 Be a Good Value?
Life insurance is not just for young people. In fact, as we grow older, we may have more need to protect our family and/or our business with life insurance. While age is definitely a factor in determining the cost of life insurance premiums, it is absolutely possible for life insurance for people over 70 to be a good value. As a matter of fact, you can get life insurance up age 90, but it's rather pricey at that point!
Why Seniors Over 70 Still Need Life Insurance These days many seniors are living longer and often have a healthier lifestyle. Many seniors are still working at 70 and retirement may not be in their near future. Even in retirement many seniors need life insurance. There are so many reasons baby boomers and other seniors may need to purchase new life insurance. Here are some of the more common ones:
Provide income replacement. Whether from a current job, or a pension, your spouse may need more than his or her own income to live comfortably.
Provide an income for a special needs child or grandchild. Will your child need care for their lifetime? Can they provide for themselves? Who will take care of your adult child when you are gone?
Protect a spouse and/or family. Will there be a mortgage or other debts to pay off when you are gone?
Protect children or grandchildren financially. Is there money for living expenses? What about for school?
To pay estate taxes. Will your heirs have to sell property to pay the estate taxes?
For a buy sell agreement for business.
To make sure there is money to keep a family business running. 
To maximize retirement income.
Charitable giving.
To pay for final expenses. Who will pay for your funeral? Do you know that the average funeral in this country is over $7,000?
And whatever reason you have for getting insurance that we didn't mention.
What is the Best Life Insurance for People Over 70?
Life insurance for people over 70 makes financial sense. You want to protect your family or business. Whether you choose a term policy or a permanent policy will depend on what your needs are. An independent agent can help you sort through all the choices and apply for the coverage that will not only fulfill your goals, but is also a good value.  For younger people, term life insurance is often the best option. It's generally the cheapest type of insurance one can buy. It gives you the most "bang for your buck". If you have young children, this may be the right coverage for you. However, term life insurance for seniors over 70 may not be the best choice because at the end of the term policy you may not have any other options or the choices you have may be too expensive. You can purchase term life up to age 80 with a limited number of carriers, but when that policy ends, and you are in your 80's there is even less choice. If you are over 90, there is no choice.  When you are over 70 you will surprisingly find that term life and permanent life coverage are closer in price than you would expect. In fact, sometimes permanent coverage costs less. This is particularly true with table shaving programs. Table shaving means that the life insurance company gives you a better rating than you would normally get based on your health history. They "shave" off 2, or sometimes 3 tables, so that you end up with a better underwriting rating and pay less premium.  Table shaving programs are only available on permanent coverage, and not all carriers and policies have this program. The other advantage is that you can purchase a policy in your 70's that will last for the rest of your life and you can have it designed so that the premium  and the face amount remain level. You don't have to worry about changes in health either as once the contract is in force the insurance company can never change your rating. There are also final expense life insurance policies which are permanent coverage, but much easier to obtain. There is no medical exam. The carrier does not order doctor records. You must be able to answer a number of health and lifestyle questions. Then the carrier will look at your Medical Information Bureau (MIB) record. They will run a prescription database to verify your answers. You usually have to be interviewed (asked the application questions) on a recorded line as well. These policies are approved very quickly. You will have a decision in just a few days. Some companies offer an immediate decision. Final expense policies are available from as little as $2,000 up to $40,000 of coverage. Each company asks the questions slightly differently so while you may be declined by one carrier, you may be approved by another. An independent agent is likely to be able to tell you which company will be best for your situation. (If you want more coverage, you have to apply with more than one carrier.)
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Which Permanent Policy is Right for Me? Several things factor into determining which product is right for you. Usually, if you want more than $25,000 of coverage, the least expensive option will be a Guaranteed Premium Universal Life Policy (GPUL). This is a fully underwritten product so you will have a paramedic exam with blood and urine collection. The insurance company will review your doctor's records. The process takes about 4-6 weeks in total. So it takes a while, but is the cheapest. What if you need coverage right away? You may be able to pay for the first month of coverage and have conditional coverage during the underwriting period. There are several requirements for conditional coverage so speak to your agent for advice to see if you qualify. If you want less than $40,000 (or $25,000 in some states) you are looking at a Final Expense policy. These are whole life policies that have simplified underwriting. There is no exam or medical records. These policies can be placed in force in a few days, sometimes the same day. If you get the best policy option your coverage starts on day one of the policy. If you only qualify for a graded benefit policy here is how it works. Every company is a little different, but generally you only have accidental death coverage for the first two years. After two years your death is covered for any reason. During those first two years if you die from an illness, your beneficiary will get all of the premiums paid plus interest. Some companies phase in the death benefit...0% year one, 40% year two and 100% year three.  And finally, if you cannot qualify for any of this coverage, you can purchase a Guaranteed Issue policy. There are no requirements for this policy. Everyone can get approved. There is no coverage for the first two years. These policies range from $2,000 up to $25,000 depending on your age.  How Affordable is this Permanent Coverage? Many baby boomers and seniors who are 70 and older can get affordable permanent life insurance coverage. Of course, your health history impacts the bottom line. How much coverage you want is the other main factor.  Your health and lifestyle will impact your chances of finding affordable life insurance for seniors. However, don't think you can't get reasonable coverage just because you have some health issues. This is where working with an independent agent makes sense. When I have a client with health issues, I discuss it with my (independent) in-house underwriter. He/She helps me understand what the insurance company will look for and which insurance company will be likely to rate the application more favorably. We also discuss how to present your issues to the carrier in the most favorable manner. Additionally, we can discuss cases with certain final expense companies to find out if they will insure you. Remember it's important to be completely honest about your health history because life insurance companies will confirm the answers on your application. Here are some of the factors that the underwriter will take into account when deciding your rating:
Your build- height and weight. Many carriers have separate build charts for seniors with more lenient weights. 
What medications do you take?
Diabetes- is it in control? What is your A1c?
Heart conditions- how are your latest tests?
What other medical conditions do you have? Are they well controlled?
Do you follow your doctor's recommendations?
Do you see a doctor regularly. This is important because if you don't, the insurance company thinks you don't take care of yourself. Annual physicals are a good thing!
Have you been diagnosed with Alzheimer's Disease or dementia? If so, you can't get any underwritten coverage. The only coverage available to you is Guaranteed Issue Life Insurance. There are no medical requirements but there are some limitations to the coverage. The most coverage available is $10,000 per company. As you may have surmised, this coverage is more expensive than the other kinds because your build and health are not considered. Anyone can qualify to purchase this coverage.
The next decision to make is which policy is going to work best for you? Are you healthy enough to qualify for a fully underwritten policy or would you do better with simplified underwriting? Are you willing to take an exam and have your blood drawn? Some people don't want to go the fully underwritten route...it is just more than they want to do. These policies usually take 4-8 weeks to put in force, while final expense coverage can be in place in less than a week. Did you know that underwriters follow specific guidelines when rating your application? Every company has them. Agents know some of the guidelines, but certainly not all! If you have high blood pressure for instance, your agent can include that information when giving you a quote, so that it is as accurate as it can be. Only the insurance company can offer you coverage, no agent can do that. Underwriting for permanent coverage is usually a bit more lenient than for term policies.  What makes the most difference in getting affordable insurance is using an independent agent, who can help you find the right company to get the most reasonable pricing possible.  You can discuss your needs and your agent will explain your options along with the prices. Your agent will know which company(s) will underwrite your application more favorably and therefore give you the best rating and then the lowest pricing.  If you are a more complex case, that is more medical issues, some agents (like us) have an in house underwriter who can assist your agent in getting you the best available rating. You have to keep in mind that insurance companies look at you differently than your doctor. Your doctor may tell you that you are doing great...but the insurance company will look at longevity statistics for people with your medical issues to help them rate you. They will consider how you are doing along with the statistics when determining your rating.  This is another place where your agent can help. I mentioned that some companies have a table shaving plan. You may qualify for that kind of program, but you have to know which company has it and where to apply. By using an independent life insurance agent you will find much of the angst people may experience when looking for insurance isn't an issue for you. A good agent will answer all of your questions and help you get the right policy for your needs. The Bottom Line Just because you are 70 year old, or older, doesn't mean you can't get affordable life insurance. You can! It's is especially important to use the right carrier when you are applying for life insurance as a senior. I strongly recommend you talk with an independent agent who has experience with Baby Boomers and seniors.  They can help you decide what type(s) of life insurance you need as well as help you get the best value for your money.
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beardedwinnerobject-blog · 7 years ago
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Car insurance policyholder and registered owner?
"Car insurance policyholder and registered owner?
I am 19, living in Florida. My car is registered in my name. My family keeps all of our cars on one policy. The insurance company is aware that I am the registered owner and I am also listed as the main driver for my car. Does that present any problems liability or insurance law wise?
BEST ANSWER:  Try this site where you can compare quotes: : http://financeandcreditsolution.xyz/index.html?src=tumblr 
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I am five weeks pregnant and do not have any insurance. I cannot afford too expensive insurance. Is there any other option for low-cost coverage during pregnancy? Does anybody know what kind benefits California state offer? I live a few years in the United States, so I am not familiar with types insurance. Thank you for any suggestions and help.""
Car insurance policyholder and registered owner?
I am 19, living in Florida. My car is registered in my name. My family keeps all of our cars on one policy. The insurance company is aware that I am the registered owner and I am also listed as the main driver for my car. Does that present any problems liability or insurance law wise?
What is your answer to reducing health costs and improving health care in America?
How do we go about this without drastically increasing out health insurance costs? Of course we all need to practice healthier lifestyle habits, but fiscally how do we improve our nation? Should we adobt other nation's practices? if so, whose? How do we improve health care across america and lower the costs to the citizens who utilize that care?""
What v8 is cheap on insurance for an 18 year old?
I'm an 18 year old guy on my parents' insurance and I have a 2003 Mitsubishi lancer that's probably not going to last me that long so I am looking for another car. I would like a v8 because I like the sound and I want descent performance but I don't want it to be too much on insurance. I was thinking about a Lincoln ls v8. Does anyone have any other ideas? Thanks.
Does the owner of the car have to be insured?
I drive my sister's car and my sister lives in a different country. Does my sister have to be insured since she is the owner? I am insured..
Please could someone tell me what is the absolute cheapest auto insurance around?
No solicitation please.... Just the real facts. For get Geico, State Farm, All State and Travelers ins, progressive and all the TOP COMPANIES""
Insurance brokers?
Y do insurance brokers force u to join bt whn its time for the insurance to pay up they tell u all sorts of stories Even though ur account was never on arreas!!! please help guys........
Full Coverage Insurance?
is full coverage insurance suppose to follow u to your next vehicle for the first 30-60 days?
Allied car insurance coverage?
my 17 year old daughter wants to drive my car but i keep telling her that i have to add her to my insurance so if she did get into an accident the car would be covered. I went online looking for the policys that Allied car insurance had and i couldnt find the answer i was looking for... but i did some searching online and some other companies allow a person that lives within the household they would be covered, or i seen that some companies would provide coverage for new drivers and my daughter got her license about 3 months ago soo i suppose she is a new driver. The other thing i saw was that some companies put coverage only on the car but not the driver. So if anyone knows what Allied car insurance policy is, go ahead and post an answer for me, also please don't just post a link to their site and say well take a look for your self, I will be picking best answer. -Thanks""
Average 600cc Sportbike Insurance in Canada?????
I am 21 and have Full G license for 5 years and M2 license for one year. Clean record and thinking of purchasing a brand new bike of 600cc for around $10000. What do you recken my insurance be approximetaly??????????? Thank You for your replies........
How does insurance work?
From my understanding of insurance you send money once a month, a deductible is what I believe it is called... Correct me if I am wrong SO really, you pay insurance companies a couple hundred dollars a month, and then it covers your hospital bill. ANd even if you are constantly sick and constantly visiting the ER, your insurance covers it. Then where does the money come from? Why the hell are hospital bills so expensive without insurance... ANd if it is that simple.... WHY DOESN T everyone get insurance? HOW DOES IT WORK?!?""
Car hire insurance! HELP?
can i hire a car/van with third party insurance or do i need to be fully comp. please help
Best Insurance cover for 18 years?
Kindly tell me a way so that I can ensure a fix monthly income of 20,000 Rs. What is the easiest way to achieve this ? MF ? LIC ? What should be my investment every month and for how many months ? Thanks..""
Can anyone sugest a inexpensive private health insurance plan with low deductible and co pay.?
The insurance I have now is with golden rule through united healthcare my copay is 35$ and deductible is 5,000.""
What do you see as the purpose of health insurance?
Should there be limits on the amount of health care provided? If yes, what criteria should we use to ration health care? If no, how should health care be financed so that everyone has access?""
Auto Insurance for 18 Years Old.. HELP?
I am asian, male I just turned 18 yesterday, and got my car too.. It's 2005 Nissan 350z Enthusiast, Yellow. I'm just wondering, how much does insurance cost for 18 y.o that drives sports car? I checked with geico, progressive, 21st, and allstate, and they give me a pretty expensive premium.. Just wondering about you guys.. How much do you pay for auto insurance?""
Would it be cheaper to insure a VW Golf for an 18 year old as a name driver on my parents insurance ?
I hear that a VW Golf is really expensive to insure for an 18 year old. Would it be cheaper if the car was insured for my parents and I was a name driver on that insurance ?
How does health insurance work in the USA?
I wanna visit but I keep hearing crazy stories of how going to a hospital makes you bankrupt :/
Cheapest Car Insurance?
Whats the cheapest I can do for Auto Insurance? I lapsed a few times with my first Insurance, and had to switch cuz it was too much to renew. Then I qot a speedin ticket, 18 over limit (the speedin was unintintional), but its all paid for, and Im usinq Cuise Control reliqiously from now on. And I very cautious as far as wrecks qo.. Anyone have any suqqestions where my best bets would be? I need somewhere under or at $200 at most, per month. And yes Im aware of other details about the car itself is required, but as far as what I just presented, whats my best chances? (KY Farm Bureau, State Farm, qeico, and Allstate are out, Ive tried them)""
Any reccomendations for a good dental insurance??
i have health insurance through my job, but they do not offer dental.""
""I want to save loads of money on my car insurance!, but how?""
So i just started to drive and i have not that much money to spare for my car insurance.My question is that i have used many comparing sites,but i know that i can possibly get the car insurance quote i am getting much cheaper! What ideas do you have other than comparing site's that can save me money on insuring my car?""
Does anyone know where 2 get cheap car insurance for high perforfomance cars .....n.ireland?
Does anyone know where 2 get cheap car insurance for high perforfomance cars .....n.ireland?
Car insurance for age 17?
Well going sound awkward but i want a car without out parents knowing, been working for 2 years got enough money can prove to insurers where i got the money from im 17 and is it possible to get insurance at my address (real address where i auctally live) but i want the paperworks to be sent to another address or they contact me by email because family wants me to get a car when im 25 however im going uni so i really need a car also im not going to any fraud everything will be legit just need to make sure if i can insurance and only i know about it thanks""
Which insurance company is the cheapest for a young female?
This is for a car, and i was thinking about sharing with my mum on her vehicle ( a rav 4, 1400cc, 4x4 ) Don't know if that will help/make a difference, but any help from you would be greatly appreciated, Thanks [=""
What do you think America can do to make more health insurance affordable?
What do you think America can do to make more health insurance affordable?
Where to get cheap cr insurance?
is there any where you can get cheap car insurance with no deposits
Does anyone knows if AIG agency auto is the same as granite state insurance company in California?
Does anyone knows if AIG agency auto is the same as granite state insurance company in California?
Car insurance policyholder and registered owner?
I am 19, living in Florida. My car is registered in my name. My family keeps all of our cars on one policy. The insurance company is aware that I am the registered owner and I am also listed as the main driver for my car. Does that present any problems liability or insurance law wise?
Manufactured home insurance?
Has anyone dealt with any companies dealing with insurance for relocatable homes. We are looking for an insurer of these type of dwellings
Insurance when renting a car? Waste of $$?
I'm 22 yrs old, renting a car from enterprise in 5 wks. On a budget and trying to cut costs, was wondering if the insurance they offer is really necessary, or just a waste of money. I currently have progressive insurance on my vehicle. Can I add this rental to my insurance for a cheaper rate? Or is insurance even an absolute MUST. Realistically, how often is it actually used? Any answers would help! 10 pts""
What steps are needed to obtain a license to sale Insurance in the State of California?
I have a college degree, but just had a baby and I'm looking to obtain a license to sale Insurance for when my son gets older so I can have a flexible schedule. What is the process in the State of California to obtain a license to sale Insurance? (car insurance, business insurance, home insurance, etc.) Is there a seperate license for each kind of insurance? or does one license cover all of them? Also, what are the steps to obtain a license? Any information would be great! (also, how long is the process of obtaining a license?)""
Will insurance cover transmission damage?
Someone stol my car I reported it the insurane company is saying my transmission is out will they cover the cost of this or say its normal wear and tear it was working when I was driving it
Life Insurance needed for Motor Insurance ?
Hello, I will be buying a ne bike in about a weeks time. Someone told me that for the Insurance for the Bike, I will need to have a Life Insurance policy also e.g from LIC or else I could face problems. Is this correct ?""
Where do i get health insurance in texas. im 18?
18 year old male. Parents dropped me. Sad day:(. Haha so where would I find cheap good health insurance :)
How much a month for loan and insurance for a 350z?
Ok so I'm gonna be 20 in a couple months and I'm tired of driving my crappy integra. I've been saving up and I'm set on getting a 350z. My price range is about 12,000 tops. If I put a down payment of about 5 or 6 grand how much would I pay per month for the loan. And how much would I pay a month for the loan along with the insurance. I'm on my parents plan. I don't know much about interest rates. Can you give me estimates on different lengths of loans and interest rates Thanks ily""
Insurance or not insurance?
hi i had 4 years insurance no claims bonus last april 2011 on my car , i changed it onto a van and drove ir for a year, ... in october i was in court for handling stolen goods ... which i did not disclose to the insurance company at the time because i thought the offence was dropped as it had happened in 2009, anyway in november i had to renew farm insurance with a different company in november and they declined the renewal because of the criminal conviction,.. so i asked the company that my van was insured with for a farm quote and again was declined, i asked about the van insurance being valid and was told to inform them at the renew in april,... in april they declined to renew the van insurance because of non disclosure of criminal conviction,... and told me last years insurance was void and i would be refunded premium and not be intilted to my 5 year no claims bonus,.. two days later they decided not to refund and have gave me my 5 years no claims bonus,.. ??? as the insurance was valid and that they covered me while they knew i had a conviction and non disclosure , do they have the right to refuse me renewal and , why can i not get a quote of them for renewal, the quote i got of some one else is 3 times last years price , need advice thanks""
What companies offer dental insurance in california?
What companies offer dental insurance in california?
Car insurance question?
I just got a 94 Buick Park avenue a few weeks ago. I'm 17 and getting my license (hopefully) on the 25th of this month. I have a question about the insurance. Our company is Amica. I've gotten a quote recently from my dad talking to them. He told me today that after two cars are insured the third one is automatically listing me as the primary driver. I'd like to be able to be the 'secondary driver' to save money...anyone know if this is possible with this company?
How to get a cheaper insurance premium?
In the UK am i able to put down a much lower value than the actual value of my car just so that i can get a lower insurance premium? Given my situation i would much rather pay for a new car if i crashed or pay for repairs myself if anything went wrong.
Can I legally drive my fiances mothers car; will her insurance cover me?
I'm 20, I will be 21 in a month. I got my Provisional Drivers License today. I have a toddler, and am pregnant. We live in Calvert County, Maryland. My fiance and I live with his parents, we rent 2 rooms. His mother is 69, and has All State car insurance, not sure what plan. Can I legally drive her car infrequently, like to the grocery store, or to OB appointments here and there without having insurance myself? Does it depend on her plan? She's going to call them tomorrow to see, but I'd just like to see what answers I get on here tonight. Any help would be appreciated, thank you. Will it cost money or make her insurance more expensive to have me added as a driver to her policy?""
HOW come insurance co?
how come insurance co discraminate against people who have mental disease? I have tried in the past to get private insurance but because i have been treated for depression in the past, I have been denied by several companies. Now only I qualify for the State insurance, and it is way over-priced and hardly covers anything. This isn't fair to those of us that are self-employed. How are we able to get affordable insurance, if we are discraminated against.""
Car trade in value change after accident?
Can somebody generally tell me that how much car trade in value decreased after a accident (2003 Jeep Liberty Limited, good mileages, the car is repairable)? and how to negotiate with Insurance on this?""
Can I rent a Car if I don't have Insurance?
I am wanting to go to Vegas for the weekend and I currently don't have a car. Which means I don't have car insurance. I am getting a bunch of mixed messages telling me that I am unable to rent a car because I currently don't have car insurance. Is this true?
I need help finding medical insurance?
I found out I am pregnant and I was denied medicaid due to income. I figured since I need it asap I would pick something with a higher monthly figure and a lower deductible I don't understand a lot of it though and not sure where to look .My old work health insurance was very expensive so I had cancelled it only to realize months later I should have kept it :/ any advice? Thanks
""How much should my car insurance be, is there a downpayment?""
I am 16 and i am a boy :) I have good grades but not quite a 3.0 My car is a really old Toyota tercel, Its a v4. I would be going under my moms plan. Thanks :)""
How much would the insurance cost for a 16 year old in tx driving a dodge challenger?
With a good student discount and a defensive driving course. Also how much would it be for a charger
""Can I get auto insurance coverage with my sister's auto insurance? (Boston, MA)?""
I will be visiting my sister who lives in Boston, Massachusetts. I will have to drive her car but I do not have my own auto insurance. My sister, of course, have her auto insurance (through Commerce Insurance) which has full coverage. The question is, will I be able to receive coverage (with my sister's insurance) in case I get into an accident?""
""First time car buyer interest rates & insurance, please help!?""
I'm a first time buyer with a cosigner & a $2600 down payment. Can anyone give me an estimate on what my interest rate might be on a $15,000/$16,000 car? (I live in Nevada & sales tax here is 8.1% if that also helps) & also, if my mom cosigns for my car, can she insure it under her name as the primary & me as an additional driver? I'm 18 years old & still live at home with her. Please & thank you for all the help!""
Can you help me find Insurance?
Im trying to find a phone number for Cheap Health insurance in Mars Hill maine. THe zip code is 04758. I want a phone number because I only need Insurance for my children not on myself I live in a different area. I don't want to do the online quotes I want to talk to someone! Can you help me find this information? I need an affordable plan
Is this a common trend for insurance providers?
I recently started working for an insurance agency in Atlanta, GA, and I've noticed that probably 90% of our clients are rather overweight. I'm curious... Does the need for insurance increase with a gain in weight? Are thin people more likely to purchase insurance from one provider and never switch? Are fat people fickle?""
Do I have to add my roommate on my auto insurance policy?
My roommate and I each have a car but we don't share the same insurance policy. He has his own and I have mine. I just got auto insurance for my new car and the agent was telling me that I should add people living with me, but his driving record is bad and I don't want it to raise my premium. The agent said that anyone who doesn't live with me can drive my car and they'll be covered, but because my roommate lives with me, he won't be covered even though he has a different policy.""
Best auto-insurance for teen driver texas?
I'm 16 and i'm almost to getting my full license. I being looking around for insurance and my best choice is to have a add on to my parent's insurance and that's $200 each month. Is there any place where i can get lower price than that? Never have an accident or trouble with the law, B+ student, took Defensive Driving.""
How much would my monthly insurance bill be (18yr old male)(i just want a ball park figure)??
When I turn 18 I am going to buy my first car (im 17 now). I can't decide which car I want to get. Please tell me about how much insurance will cost me for each one. I will be on my own policy. I will get my license just before Im 18. I live in California. My car choices are: 1. 2009 Nissan Versa Hatchback 1.8S 2. 2009 Honda Civic Sedan LX 3. 2009 Toyota Matrix S 4. 2009 Chevrolet Aveo Sedan LT
Car insurance policyholder and registered owner?
I am 19, living in Florida. My car is registered in my name. My family keeps all of our cars on one policy. The insurance company is aware that I am the registered owner and I am also listed as the main driver for my car. Does that present any problems liability or insurance law wise?
Insurance for a 22 year old driving a new Z06 or a new viper?
I don't have one and i'm not 22, but i was just wondering how much do u think insurance would be if i get a z06 or a viper when i'm 22 and before you say anything negative, its because i hope to do really really well in school and make at least 65g a year out of college in finance. . . . . Also. why dont 22 yr olds drive around in realy nice cars like that out of college if theyre making 60-70g a yr??""
Can your car insurance company penalize you if...?
Can your car insurance company penalize you if you report an incident but decide not to file a claim?
How much will car insurance cost?
I live in Ontario Canada, I'm an 18 year old male, I completed drivers ed, I have good grades and I will be primary driver of a 1991 Buick park avenue. Any ideas of how much my car insurance might be?""
How much is car insurance for a 18 year old male in CA?
I'm 18 years old, get good grades, and I'm buying a new Nissan Versa (in Magnetic gray). The car's going to be about 14k total (out of the door price). I'm wondering which car insurance company I should go for, and what a good price would be. My parents are debating whether I will be added to their insurance plan, or if I will get it sepatetely. Does anyone have input on this? Thanks~""
How much will my car insurance be?
Im getting my own can insurance when i turn 18 in about a month, my parents are kicking me off there's i have had 3 tickets and i drive a 1998 toyota camry...""
How is the mandate to buy car insurance different than the mandate to buy health insurance?
This seems to be a popular talking point among liberals. It saddens me that liberals are so partisan that they are blinded to the obviousness of the differences. So for the record, what are the two differences between the requirement to have car insurance and the requirement to have health insurance? 10 points goes to the most simplistic and straight to the point answer.""
How do I get the car insurance $$ and still keep the car?
How do I get insurance money from a total , and still keep the car? My daughter's front bumper was torn off. The wheel looks a little bent, so it could me major, could be as simple as a tie rod. The adjuster TOTALED the thing! Book value was $2000 LESS than what was stated on car by dealer. I asked insurance how this could be. They said they use NADA, not Kelly. And, they do an outside market evaluation by Standard and Poors. Plus, they go by private sale value, not retail. So all in all, she's poised to get screwed $2000. As usual, the little guy loses again. What a great country! However, 3 years ago, I totaled my vehicle and the insurance company gave me the $$ AND let me keep the car. I just don't remember how it happened! Any idea?""
Cheapest auto insurance with good coverage?
i need help finding good cheap autp insurance...
What are some cons of medical doctors not taking insurance?
What are some cons of medical doctors not taking insurance?
Car insurance for teens?
Can a teenager have thier own car insurance and if so what companies let them im in delaware. And which is the best all answers welcome
Car mod insurances?
does a body kit cost alot on your insurances.if you no what percentage it increces. thanks
What are some individual health insurance companies?
I have applied to Blue Cross, CAA, Manulife and Sunlife for my epilepsy medication that is costing me way to much per month. But each insurance company excludes any medication for my seizure disorder. What are some other health insurance companies that will accept me (hopefully)?""
Teens why is car insurance so expensive?
This morning i was looking at this 2001 ford crown vic. and the owner wanted $700.00 for it, but when I called the insurance company they told me my insurance would be $300.00 per month. why is car insurance so expensive, thats crazy AM I RIGHT?""
Insurance for teen when borrowing parents car?
My parents and i are very confused on whether I need to put on my parents insurance policy since i am technically borrowing their car. All of the people my parents have talked to have said that i don't and that they never did for their kids and it was fine. When my mom called about my sister they told her that she HAD to be put on their policy and that I could not receive my license until I was put on the policy. I am 16 and my sister is 18 and it would cost around $750 per month more to insure us. Do we need it if we are borrowing my parents car? Thanks:)
Cheapest car insurance for 18 year old ?
H there, once again i ask for thy help!!!>.. < ... so here i just bought a 2002 VAUXHALL CORSA 1.2 SXI BLACK, 1000 pounds, 90k Miles, im on a provisional license, hoping to pass by january. I will do aorund 6k a year miles. car will be used to get to uni, work and commute for shoping. thanks""
Car insurance - My car is totalled - what now?
my car is totaled according to the insurace company. It is the other person at fault so their insurance is dealing with it. I feel as if I'm getting the runaround a bit. How will they determine a fair value of the car and what if I don't agree with what they offer? They have also given me a rental which they tell me I must return once the agreement is made and I will be out of town and cannot return it for a week. They said I have to pay for the rental of the days I am gone!!!!!! Do I have to agree to their terms or how do I go about handling this situation? HELP i don't like dealing with this stuff but I don't want to be screwed over Thanks
Does the Lexus IS 300 have high insurance rates?
compared to a honda accord sedan.
How much would insurance be for a 1999 Ford ZX2 Escort?
I'm 17, a boy, and I live in maryland just 5 miles from DC. Im getting my first car next saturday and its gonna be a Black 1999 Ford ZX2 Escort. How much can I expect to pay for insurance? I have a clean driving record. Also, my parents dont have car insurance so they have to start a separate account for me. Thanks!""
Does 2 Insurance Policies Affect Each Other?
I am going to be buying a car and the cheapest way of getting insurance is by naming my mum the named driver of the car and i was added on..but she is worried that if i crashed it would affect her no claims bonus on her other policy..would it?
Progressive is hiking my Massachusetts car insurance rate by 23% this year! Is that normal?
My policy is about to come up for renewal and they're going to hike up my rate by 23%! I just talked to their customer service person and she said they're doing it all over Massachusetts. Are all the car insurance companies raising their rates so much in Massachusetts? Was there some law that passed which changed their profit margin or something? Is there another car insurance company that will give me a better deal?
Can i insure my UK car with ROI insurance?
Hi, I am looking to insure my UK registered car with ROI insurance. I travel to and from Ireland but spend the majority of my time in Ireland. I would like to know which ROI insurance companies will insure my UK registered car and if the insurance would be valid for driving in the UK, if so, for how long ?""
Flyers insurance suggested?
This I my first time buying my own ticket and flying alone. Is it typical to get the insurance they offer for like $20 when you buy your ticket online? Would you recommend it? I think most cover your ticket and luggage?
Getting my license in April. Good cars w/ low insurance rates?
I like cars like the Scion tC, Mitsubishi Lancer, ect. Sports cars, but not super nice ones. I'm getting my license in April and will get a car shortly after. I want to get a car like the ones above, but I don't think my dad will want to pay a lot for insurance, but I don't want to get a Jeep, which is what he got my brother and sister since the insurance is low. What are some cars like these that also have good rates for insurance? Price range is any thing lower than $10k.""
True or False; We should let people decide weather they want health insurance or not?
True or False; We should let people decide weather they want health insurance or not?
What is the best insurance company to have if you need to go into a rehabilitation center?
Which insurance covers the most??
Car insurance policyholder and registered owner?
I am 19, living in Florida. My car is registered in my name. My family keeps all of our cars on one policy. The insurance company is aware that I am the registered owner and I am also listed as the main driver for my car. Does that present any problems liability or insurance law wise?
https://www.linkedin.com/pulse/cheapest-cars-insure-17-year-old-sibylla-henderson"
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charllieeldridge · 5 years ago
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Top 10 Cheapest Countries to Visit This Year
As we enter the new year, every travel lover starts planning their trips. As we all know, the cheaper the destination, the longer you can afford to stay — or the better your travel lifestyle can be while visiting. The cheapest countries to visit on this list offer both affordability and value for money.
In some countries, $45 / night barely affords you a hostel dorm bed, while in others that can pay for a luxury villa. In Canggu, Bali, you can get a 2 bedroom private pool villa for $50 / night, while when visiting Japan that same $50 barely affords a double bed on the floor of a small room. 
This year is sure to be an amazing year for travellers and if you’re already planning your travels for the year, then this post is for you. Some of these countries are cheaper now than ever, largely due to drops in their local currency on the global market, or due to a recent lack of tourism.
We would never write a post to revel in low prices at the cost of economic struggle, but by visiting these places independently now, you can not only enjoy better prices for yourself but also help the local businesses and people along the way.
See Also: Best Places To Visit in January
Here are the top 10 cheapest countries to travel this year!
Note: This article has been updated 2020 to include the current cheapest countries to visit, the updated conversion rates, and a bonus eleventh cheap place to visit that you won’t want to miss. Happy travel planning 
Indonesia
White sand beaches, world-class surfing, the best scuba diving in the world and some of the most picturesque jungle and rice paddy scenery, Indonesia is without a doubt one of our favourite countries on earth.
UPDATE  2020: We recently returned from a trip to Raja Ampat in Indonesia and while it’s the one place in the country that isn’t overly cheap, it’s definitely worth a visit. This archipelago is known to be one of the top 3 best dive locations in the world and there are some relatively inexpensive accommodation options when you consider that you get full board and diving included in most room rates. Even if you’re on a budget, if you have time, don’t miss Raja Ampat!
Currently, Indonesia is one of the cheapest countries to visit that we know about. 1 US dollar will get you around 13,850 rupiah, which is about 1,000 more rupiah than in 2018. Six years ago you’d only get 9,050 rupiahs to the dollar.
As I said in the opening paragraphs of this post, Indonesia offers incredible value for accommodation, food and transport. Here you can get beautiful guest house rooms, often set in pool villas, for as little as $20 / night.
You can eat delicious seafood meals and millennial classics like “smashed avo on toast” for around $3 and you can rent a motorbike here for just a couple of dollars per day (cars are around $15 / day).
The only thing that’s not of great value is alcohol. Indonesia has placed a pretty heavy tax on imported booze, so a low-quality bottle of imported wine will cost around $20, while a drinkable local wine is still $13 – $15. Bintang beer is nothing to write home about, but it’s affordable at around $1.50 – $3 at a beach bar or restaurant and imported beer is around twice the price.
Out of all the countries we’ve travelled to and kept track of our budgets, Indonesia is definitely amongst the top 3 best value for money, and with a stronger dollar / weaker rupiah, this has never been truer than it is today. Don’t miss the islands of Raja Ampat, Bali, Sumatra, Sumbawa, Lombok, Gili Islands, Flores, Komodo National Park, Alor…and more!
*Note: Due to a (somewhat) active Mount Agung volcano on Bali island, there are some incredible hotel deals right now. Not only can you save money on accommodation, but you will be helping out the locals who rely on tourism. Check out Booking.com to see the current deals on hotels, guesthouses, resorts, etc., and click here to keep an eye on the status of the volcano.
Mexico (one of the cheapest countries to visit for North Americans)
A diverse and delicious (albeit not very healthy) cuisine, friendly local people, world-class beaches, all the amenities you could hope for and an intoxicating vibe make Mexico a place that we return to time and time again. It’s one of our favourite countries to travel to and one of the few destinations where we could see ourselves living long-term. There are so many incredible places to visit in Mexico, and things to do that you could spend years here and not see it all.
Mexico is extremely affordable these days thanks to a struggling peso added to an already low cost of living. At the time of writing, the US dollar is at 18.85 pesos which is incredible. We’ve been to Mexico numerous times, but when we travelled here way back in 2014, the dollar was at just 12.8 pesos and even then we thought it was good value for money. 
UPDATE 2020: The peso is still hovering just below 19 pesos and makes Mexico a very cheap country to travel. Consider visiting the less expensive states like Oaxaca and Puebla to save some extra cash and book some nice places on Airbnb to save money. 
Today, Mexico is theoretically 49% cheaper because of the currency conversion to the USD (and many other currencies including CAD).
If you want to really save money while visiting Mexico, avoid coming here during peak season (November – March) when accommodation prices can skyrocket (especially in December) and many of the best places are booked out.
No matter when you come, Mexico will shock you with its great value. Tacos for 30 cents each, a kilo of fresh prawns from the fish market for $3, Coronas with a slice of lime for $1.50 and strong margaritas served to you while your feet are buried in the sand for just $1 each. You’ll find affordable internal flights with Viva Aerobus and Aeromexico, and cheap long-distance bus rides.
On top of the great prices for food and booze bought in restaurants and bars, Mexico has many shops that North Americans love, like Sams Club, Costco in the major cities, and one that not everyone loves, Walmart.
On top of these institutions, Mexico also has its own brand of grocery stores like La Comer and Soriana. Purchasing your own groceries and cooking for yourself is a great way to save money (and make a healthy meal) as the food in the grocery stores here is very affordable. 
Mexico may be one of the cheapest countries to visit, but it’s also a popular destination for digital nomads and retirees looking to spend a longer period of time in the country.
See More of Our Mexico Posts Here:
Things To Do in Puerto Vallarta – Top 20 Things You Won’t Want to Miss
Backpacking Mexico: Top 8 Reasons to Travel Mexico 
Mexico – The Best Digital Nomad Spot for North Americans
Things To Do in Cabo San Lucas
Best Places to Visit in Mexico – Don’t Miss These 12 Spots
Things To Do in Mexico – Top 51 List Of The Best
☞ Click here to compare prices and see reviews on the best accommodations in Mexico
☞ Click here to learn more about the tours available around Mexico
India
Oh yes, whether you love it or hate it, and even if you do love it you probably also hate it, India is one of the most exhilarating travel destinations on earth. Chaotic and tranquil. Pristine and filthy. Friendly and furious. Free and frustrating. India is the epitome of all the oxymoronic experiences that make travel so amazing.
While India is likely the most exciting and bewildering place to travel, it’s also probably the cheapest. Thanks to the Indian Rupee currently trading at 70 rupees to the dollar – which is 6 rupees more per dollar than you would have received in 2018 – India is likely the best place to travel if you want to stretch your dollars, euros or pounds.
Last time we were in India, I purchased the cheapest (yet filling) meal I’ve ever had while travelling. 20 cents bought me a pile of puris (fluffy fried bread) and two different types of curries served to me from a street cart. The meal was delicious and completely filled me up… amazing.
While the cost of that meal was exceptionally low, we often ate all you can eat thali meals for as little as $1.50 and drank fresh lime juice squeezed on the street for 15 cents a glass. We had free accommodation in ashrams (it doesn’t get much cheaper than that) and when paying for our hotels, we had decent but basic double rooms for around $3 per night.
Depending on what class of train and bus you take, getting around India can be unbelievably affordable, with a train from Mumbai to Kolkata covering 1,968 km and taking over 30 hours costs just $11! In my opinion, India is one of the best countries to visit, and it’s also one of the cheapest countries as well.
See More of Our India Posts Here:
Budget Backpacking Guide to India
Guide to Transportation in India
Top Tips For Preparing for a Trip to India
Click here to compare prices on accommodation options in India with Booking.com
Click here to learn more about tours available around India
Colombia
After backpacking Colombia in late 2016, it quickly set itself amongst our favourite countries we’ve ever been to. Friendly people, incredibly pristine and lush jungles, stunning Spanish colonial cities and breathtaking beaches, Colombia is a traveller’s dream.
The Colombian peso saw a massive drop in recent years which unfortunately isn’t good for local economies and Colombians looking to travel, but it does give budget travellers an added incentive to visit this incredible country.
We met a couple in Medellin who decided to move to Colombia to retire in 2014. Since their arrival the peso went from 1,800 to the US dollar, all the way to 3,350, an incredible 88% drop, essentially giving their retirement a massive boost.
Luckily the peso has started to stabilize again slightly and at the time of writing it’s sitting at around 3,300 pesos to the US dollar. This means that everything in Colombia is a great value for travellers. Whether you’re visiting with a dollar, pound, euro, yen or yuan, Colombia is a better deal now than it’s ever been.
UPDATE 2020: The Colombian peso took another small dive in July of 2019 bringing it from 3,200 to 3,400 per USD. This means that Colombia is even cheaper than before and makes it an excellent option for those looking to visit cheap countries in 2020 and beyond.
We were eating delicious seafood meals on the beach for just a few dollars, beautiful Spanish style guest houses only cost around $30 / night and you can enjoy scuba diving in the Caribbean here for as little as $24 / dive when buying a 10 dive package.
We stayed in some of the best hostels we’ve ever seen in Colombia, with rooftop pools, funky bars and luxurious rooms (one even had a jacuzzi in it). The cost of tours and experiences is also excellent in Colombia. We highly recommend doing the 4 day Ciudad Perdida trek and a coffee tour in Salento (the latter is only $2). Colombia is one of the cheapest countries to visit this year, and it offers excellent value for money.
There are endless amazing things to do in Colombia, which can seem a bit overwhelming at times. Why not have a local plan a cool trip for you?! Click here to learn more.
See Also: 21 Things To Do in Cartagena
Cuba
If you’re looking for a cheap destination to visit in the Caribbean, then Cuba tops the list! You can travel here on an all-inclusive, but if you choose to travel to Cuba independently, you’ll have a far richer experience and it’ll cost you less. For cheap countries, Cuba is one of your best bets.
Stunning beaches, a unique Caribbean and Spanish vibe, tasty cooking (contrary to belief), friendly people and incredible landscapes, Cuba is a diverse country that needs to be on your list. For Americans, it’s possible to travel to Cuba if you travel under one of the allowed categories. People To People is what most people choose to travel under. But, it’s still a confusing process for our American friends.
You’ll need to build an itinerary containing activities that meet the criteria for People To People category — or get help from local experts to plan a legal trip (5% discount for Goats On The Road readers!).
We spent a month backpacking Cuba and it was a highlight of all our travel experiences. Meeting the Cuban people, dancing in the streets, lazing on virtually empty beaches, partying in Havana and hiking to tobacco farms were our most memorable moments.
Cuba’s currency is the CUC or the CUP. In general, you’ll use CUC (which is pegged to the US Dollar) for your accommodation, food at tourist restaurants, cocktails & beer, activities & excursions, car & scooter rentals, and the Viazul bus. CUP is used for smaller items such as fruit and veg from local vendors, the local bus and some peso food shops.
1 USD = 1 CUC
1 USD = 25 CUP
Staying in casa particulares with the local families is what Cuba is all about. This is the best way to meet the people and enjoy an authentic experience. However, Airbnb is cropping up in the country and there are some great places online. Casas will cost $20 – $30 / night for two people, discounts for 1 person (and oftentimes it includes breakfast), while hotels cost $25 / night up to $180+.
Airbnb is a great way to save money, even when visiting the cheapest countries in the world! If you would rather book an apartment or stay with a host on Airbnb, why not get an Airbnb discount while you’re at it? Make sure you use our special $55 Airbnb Coupon Code and save money on your trip.
The cost of food in the restaurants in Cuba really depends on which city you’re in, and which restaurant you are at. But in general, expect to spend between $5 – $10 for a filling meal. We recommend dining at least 1 night at your casa as they cook some amazing traditional food! Cocktails are about $2 – $3 at a bar.  Now, if you were to eat “peso food”, you would spend about $1 for a small meal.
Activities can be fairly cheap in Cuba as well, with chilling out on beaches and wandering around the stunning and bustling streets costing you nothing. Museum visits, caving, horseback riding and other tours will cost between $5 – $30. The cost of Cuba is incredibly affordable, making it one of the cheapest countries to visit.
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Bulgaria
Back to the truly great value destinations for the year, Bulgaria is probably the cheapest country we’ve been to in Europe. With gorgeous old towns, phenomenal wine, lovely coastline and super friendly and ailak (relaxed) people, Bulgaria is also one of our favourites in the region.
While the country has offered great value to travellers for decades, a recent dip in the Bulgarian Lev on the global market, means that Bulgaria is an even better value now than it was just a few years ago.
When we visited Bulgaria in 2016 we were blown away by the incredible value we got for our dollars. On one occasion, Dariece, myself and a friend sat in a restaurant bar for over 5 hours. We ate a massive platter of meat, veggies and bread and drank copious amounts of wine.
When the bill finally came, we thought there was a mistake, or we were misreading it in our double vision. That night we paid under $30 for that bill and we still don’t know how. The great deals continued as we travelled around Bulgaria, with lovely hostel rooms in 200-year-old buildings costing just $20 per night and bottles of wine at restaurants rarely breaking the $8 mark.
If you want to visit Europe, experience history, meet really cool people and taste some of the world’s best wine while never breaking the bank, Bulgaria should be on your travel wish list this year. This is definitely one of the cheapest European countries and best places to visit this year.
South Africa
One of the most adventure-packed and naturally blessed countries on Earth, this list wouldn’t be complete without our favourite country in Africa. South Africa offers visitors too much to see in any trip under 6 months. With a rugged and stunning coastline, incredible wildlife, extremely friendly people, tasty Indi-afro fusion food, decent roads and great prices, you really can’t beat SA.
We believe that this country on the south tip of the continent is the perfect beginner’s stepping stone into the more chaotic and rustic travel of other countries in the region. South Africa is relatively easy to travel, especially if you rent your own car (highly recommended).
What makes South Africa so affordable in 2020 is the cost of the rand. While it’s not trading as well as it was at the beginning of 2016, at 14.4 rand to the USD, a trip to South Africa is 14% cheaper than 2017 when it was 12.6 rand to the US dollar.
When we were last there in 2011, we received just 6.7 rand to the dollar, but everything was still great value.
We paid $40 / night for lovely double rooms, around $7 / meal and just $10 to enter some amazing national parks. Take into consideration the current 53% discount based on the currency devaluation and these all become incredibly affordable in 2020, even considering the rate of inflation since 2011.
UPDATE 2020: South Africa has had some more speed bumps in its road to stability lately and while most locals will tell you it’s still safe to travel there, it’s worth checking travel warnings before you go. There have been some significant displays of prejudice and violence there recently. While these incidents are largely focused on certain groups of people and wouldn’t likely affect travellers, it’s important that you’re aware of the situation on the ground before visiting. While we normally believe that these warnings are overexaggerated, it’s worth checking travel.state.gov for South Africa.
Turkey
Possibly the most liberal of the countries in the region area, Turkey attracts visitors with one of the most exciting and beautiful capital cities on earth, Istanbul. Plus, this country offers a blissfully alluring Mediterranean coastline, amazingly friendly people (especially in the east) and an intoxicating Islamic culture and architecture.
The value for dollar in Turkey has always been great, but with the Turkish Lira dropping from 1.28 to the US dollar in 2010 to the current 5.87 today, the home of the former Ottoman empire is essentially 75% better value than it was 10 years ago. 2020 is the cheapest time to visit Turkey as the Lira has hit a 10 year low.
Every time we visit Turkey we are amazed by the value for money found here. You can eat delicious meals of traditional Turkish food for $5. Portions here are often so massive that you could share a meal and that cost. Tasty kebabs are just a couple of dollars on the street and you can get lovely guest house rooms here for under $20 / night (more in the major cities).
One of the costs that does add up in Turkey is the cost of visiting mosques. Many of the best ones in Istanbul for example, cost as much as $10 to enter. If you’re on a tight budget, consider only visiting a couple of paid mosques and try to find some others that you can enter for free.
Thailand
We have to include the land of smiles on this list of cheap travel destinations for 2020. Thailand has always been one of our favourite countries in the world and the budget backpacker that still resides deep inside our souls rejoices every time we return. There are numerous places to visit in Thailand — whether you want National Parks, jungles, cities or islands, there’s a place in Thailand for you.
The Thai Baht, although it has seen some dips and spikes, doesn’t make the country especially cheaper than it has been in the past few years, but that doesn’t matter. Thailand simply offers some of the best value for money you can find anywhere on earth.
  Lovely guest houses and beach huts right on the sand for as little as $15 / night, spicy and mouth-watering Thai dishes for under $2 a plate, and scuba diving for under $20 a dive makes Thailand a constant competitor as one of the cheapest countries to visit in the world.
When we first visited in 2008 we were amazed to find budget rooms (albeit extremely basic) for under $10 and when we returned this year on a higher budget, we couldn’t believe the luxury, 2 bedroom private pool villa we were able to afford for just $1,500 / month ($50/night!).
Your biggest expense when travelling in Thailand (depending on where you’re coming from) will likely be your flight, but once there you can enjoy an incredibly low cost of living and the warmth of the local people who have made this place famous.
See Also:
Things To Do in Bangkok
Cost Of Living in Thailand 
Things To Do in Pai
Things To Do in Chiang Mai
Places To Visit in Thailand 
Greece
If this list was in the order of most beautiful and best value for money, Greece would no doubt be near the top. It’s amazing how a place so beautiful, set right in the Mediterranean, can be so affordable.
Greece has been on the Euro since the start of 2002, so while there has been a 16% devaluation of the Euro in recent years, Greece was always affordable, but perhaps never as much as it is today. What likely contributes to this is the unfortunate struggles that the Greek economy has seen in recent years and the influx of refugees. So perhaps Greece more than any country on this list can benefit from more tourism.
With such great value, Greece is the perfect place for 2020. We rented a beautiful, modern, 550 sq ft studio apartment with a view of the sea for under $20 / night on Zakynthos Island. We also had another 2 level, 1 bedroom apartment with a pool near the south coast of Santorini for under $20.
Greek food is incredibly delicious and you can usually get tasty seafood meals in restaurants for under $8. On top of the already great value, Greek restaurant owners and chefs have a habit of offering their patrons freebies, like free wine, appetizers and desserts. Whenever you’re leaving a traditional restaurant in Greece, you’ll be fat and full and so will your wallet.
On top of good food and accommodation value, activities in Greece are typically priced well too. We did a free honey bee tour, an olive oil tour and tasting for $35, a half-day cycle tour for $24, an amazing cooking class with unlimited booze and food for $65 and winery visits and tastings for under $5.
We also rented our own boat on the island of Corfu and drove it from bay to bay for an entire day. This cost us $95 plus gas, which isn’t overly “cheap” but considering Sea-Doos and Jet Skis typically rent for around $50 / hour, we thought this was an amazing deal for both of us to enjoy a full day out on the water.
All-in-all, Greece is definitely one of the cheap European countries to visit and it offers some of the best value for money in all of the continent. Considering its location on the map and the level of quality you find here, it also competes as one of the best value travel destinations on earth.
See Also:
Places To Visit In Greece
Best Beaches in Greece
5 Day Travel Guide to Kefalonia
Things To Do in Chios
5 Day Travel Guide to Lesvos
Things To Do in Athens
Bonus! Argentina
Whether you’re into culture and history, nature and landscapes, lakes and fishing, or cities and wine, Argentina has something for you…and right now it’s one of the cheapest countries to visit.
Since Argentina is such a vast country, with a wide variety of landscapes and regions, it can be visited year-round.
Argentina is known for being one of the top fly fishing destinations in the world. If you’re an angler, fly fishing season in the Lake District of Patagonia is best in January & February due to the warm weather, and ability to fish all waters during this time.
For trekkers, the winter months are a good time to hit the mountains of Patagonia. El Chalten in the south is dry and has temperatures around 20°C (68°F), perfect for checking out the peaks of Fitz Roy and Cerro Torre, exploring waterfalls, drinking beer on patios and much more.
Don’t miss nearby El Calafate and its popular Perito Moreno Glacier, which calves massive chunks of ice every few minutes.
If all of these places to visit in Argentina aren’t enough to spark your interest, maybe the cost will. When we travelled to Argentina in 2017, we received around 18 Argentine Pesos for 1 US Dollar.
According to XE, at the time of writing, the rate is $1 USD = 37.85 Argentine Pesos.
UPDATE 2020: The conversion rate is now at $1 USD = 60 Argentine Pesos. This is an incredible development and easily makes Argentina one of the best value countries to visit in 2020 and beyond. It also means that the economy is struggling so you visiting the country and spending your foreign currency on local businesses could help Argentinians get back on their feet.
This drop in currency means that travelling to Argentina would cost you less than half of what it cost us in 2017. Rooms that were priced at $150 a night, now cost $71. Fantastic dinners of rib eye steaks and Malbec wine which cost us $50 for two people, now go for just $23.
Argentina isn’t known for being one of the cheapest countries to visit, but with the current instability of the peso, you can definitely save some money by visiting now and maybe help the local economy along the way. We highly recommend this South American country.
Where Will You Go?
As the world becomes more connected by budget flights and advanced communication and commerce, many places are becoming more and more expensive to visit with each year that passes. Aside from the cost of flights which have been reduced thanks to budget airlines, travel is typically more expensive now than it has been in the past.
Thankfully, there are still some incredible countries that always offer travellers great value for money. The most exciting countries in the world are often those that are still developing. For visitors, this means low prices but also a better understanding of the world economies and wealth disparities.
We always recommend visiting countries independently so that you’re giving the most amount of money back to the local communities as possible. Rather than always staying in American or European chain resorts, consider locally owned guest houses, hostels and homes.
Instead of joining a foreign-owned tour, consider heading there on your own and hiring guides yourself once you’re in the country. Not only will this likely be much cheaper for you, it will also enrich your experience in the places you visit.
We’ve listed 10 of our favourite cheap countries to visit in this article, but the list is by no means exhaustive.
What’s your favourite place to travel on a budget and why? Comment below and start a conversation!
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Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
The post Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed appeared first on Real Estate News & Insights | realtor.com®.
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rtscrndr53704 · 8 years ago
Text
Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
The post Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed appeared first on Real Estate News & Insights | realtor.com®.
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porchenclose10019 · 8 years ago
Text
Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
The post Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed appeared first on Real Estate News & Insights | realtor.com®.
from DIYS http://ift.tt/2tEtpmK
0 notes
realestateagent532 · 8 years ago
Text
Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
The post Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed appeared first on Real Estate News & Insights | realtor.com®.
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rtawngs20815 · 8 years ago
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Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
The post Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed appeared first on Real Estate News & Insights | realtor.com®.
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realestate63141 · 8 years ago
Text
Million-Dollar Housing Boom: Cities Where Seven-Figure Listings Have Skyrocketed
bluejayphoto/iStock; realtor.com
Time was, a million dollars seemed to evoke so much to everyday Americans. Swanky vacations in the French Riviera. Bespoke suits and garages filled with Bentleys and Mercedes-Benz roadsters. Corporate titans sipping champagne (mixed with the tears of oppressed workers). And perhaps one thing most of all: big, beautiful, luxury homes.
But let’s get back to present-day reality. A million bucks, however impressive a sum, is no longer synonymous with mansions, or even particularly high-end housing, in much of the country. In fact, there’s now a huge discrepancy in what you can get for a tidy seven-figure price tag across the United States. In Atlanta, it could indeed net you a gigantic mansion in the exclusive suburbs. But in San Francisco, a seven-figure check barely gets you a compact condo with one bathroom.
One thing’s for sure: With a housing shortage steadily pushing prices higher, the share of homes listed for $1 million and over is steadily on the rise. It increased from 3.2% to 4.3% from the first quarter of 2014 to the first quarter of 2017.
In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
So where are the markets for million-dollar homes growing the fastest?
To find out, our data team ranked more than 900 metropolitan areas. For each metro, we compared the percentage of homes that cost upward of $1 million in the first quarter of 2017 to the first quarter of 2014, to see how they’d changed over the past three years.
Our emphasis was on growth, not just luxury. So to rule out metros that were already uber-wealthy—resort towns like Aspen, CO, or go-go urban meccas like San Francisco—we filtered out markets that already had more than 10% of million-dollar listings in 2014. For geographical diversity, we also limited our list to two metros in every state.
Million-dollar questions. Million-dollar babies. Million. Dollar. Listings. So where can you find the most new members of housing’s million-dollar club? Grab your checkbook, and let’s take a look.
1. Denver, CO
Share of $1 million-plus homes in 2017: 9.4% Share of $1 million-plus homes in 2014: 3.3% Million-dollar growth: 6.1%
The blazing-hot housing market in Denver is pushing middle-class homes into a price category not long ago reserved for luxury estates. Nearly 1 in 10 homes in metro Denver was listed for more than $1 million in the first quarter of 2017.
What’s making it happen? “The secret is out that Denver is a wonderful place to live,” says Jeff Plous, a local real estate agent from One Realty. A booming tech scene, gorgeous scenery with plenty of outdoor recreation possibilities, and yep, even legalized recreational marijuana have conspired to make Denver the new place to be.
“Lots of Californians are moving here,” Pious says. “They sold their homes for multi-million dollars, bought another one here for $1 million, and still have plenty of cash left in the bank.”
Neighborhoods south and east of downtown are packed with big-ticket single-family homes, ranging from $1 million to $10 million. Until recently, neighborhoods in the northwest of the city, where humble bungalows house working-class families, remained surprisingly affordable. But as ever-rising tides of young professionals flood in, flyers offering to buy homes for cash have proliferated, and million-dollar custom homes with high-end finishes are selling faster than discounted Rocky Mountain oysters.
2. Santa Rosa, CA Picturesque downtown Santa Rosa, CA
John Elk/Getty Images
Share of $1 million-plus homes in 2017: 14.1% Share of $1 million-plus homes in 2014: 8.1% Million-dollar growth: 6%
As housing refugees from San Francisco flood the market of Santa Rosa, one hour to the north, the local home prices are skyrocketing. The rise in million-dollar listings in this wine country hamlet has been slowly building for the past five years, but the steady drip has become a torrent now, due to the booming tech biz.
“We have a lot of people who work remotely, or they go to the office twice a week,” says real estate agent Kimberly Sethavanish from Kimberly James Real Estate. “They’d rather live here and have a little bit more land than [buy] a 800-square-foot house in the city” of San Francisco.
Gorgeous country estates at the foot of the Sonoma Mountains abound in metro Santa Rosa. High-end buyers value large homes and lots, stunning vistas, and loads of privacy, all within a short drive of downtown.
Wealthy retirees from across the San Francisco Bay Area often relocate to Santa Rosa for an active lifestyle. Sitting in a bucolic region ideal for biking and hiking, Santa Rosa is also a short drive away from the wineries of Sonoma and Napa counties, and from 17 miles of gorgeous coastline.
3. Boulder, CO
Share of $1 million-plus homes in 2017: 14.7% Share of $1 million-plus homes in 2014: 9% Million-dollar growth: 5.7%
Known for its pristine natural surroundings—Flatiron Mountains, lush forest, and crystal-clear creeks—Boulder is a small mountain town with big price tags. Wealthy buyers who enjoy an outdoor lifestyle plunk down millions for fine residences, including posh country homes, contemporary ranches, and mountain-view retreats. Urbanites settle down in remodeled mansions near downtown, with quick access to craft breweries and farm-to-table restaurants.
But when locals talk about million-dollar homes, these days they’re likely to be referring to regular middle-class abodes. Boulder’s seven-figure real estate market has been on an incredible tear in recent years, as the city struggles with a lack of available housing in the midst of a tech boom. Boulder is home to dozens of start-ups and major outposts of corporate giants like Google and Microsoft, and it’s running out of land to build new homes.
4. Truckee, CA Truckee, CA
Witold Skrypczak/Getty Images
Share of $1 million-plus homes in 2017: 12.4% Share of $1 million-plus homes in 2014: 7.1% Million-dollar growth: 5.3%
For generations, the Lake Tahoe region has been a favorite vacation spot for Northern Californians, with world-class skiing in winter and water activities and gorgeous hiking in summer. A lakefront property used to represent the apex of luxury, but increasingly, wealthy buyers are drawn to new communities with top-flight amenities in Truckee, just north of the lake.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.
5. Fredericksburg, TX Downtown Fredericksburg, TX, often called “Fritztown” because of its German history
Chris Litherland/Wikipedia CC
Share of $1 million-plus homes in 2017: 13.6% Share of $1 million-plus homes in 2014: 9.8% Million-dollar growth: 3.9%
Located in central Texas, this is a town of ruggedly beautiful terrain, scattered live oaks, and tall grass prairie. In the region dubbed the Texas Hill Country, the latest wave of settlers are wealthy transplants seeking a picturesque place to retire that’s also within distance of urban amenities. Big city life is just an hour and a half away—Austin to the east and San Antonio to the south.
“You get easy access to urban life, yet you don’t have to live in the San Antonio ’burbs,” says real estate agent Amy Patrick with Keller Williams City View. “Here we have the river, lots of great little places to eat, and local shopping boutiques.”
The moneyed class is typically looking for 100-plus-acre “recreational ranches” where residents can enjoy hunting, fishing, and horseback riding. Aside from the strong cowboy vibe, there are plenty more cosmopolitan cultural offerings, like museums, theaters, art galleries, and numerous festivals all year.
Fun fact: Fredericksburg has the highest share of millionaire households in Texas—they make up nearly 6.5% of its population, according to the wealth research firm Phoenix Marketing International.
6. Heber, UT
Share of $1 million-plus homes in 2017: 10.5% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.7%
Located in a beautiful valley outside Salt Lake City, two peaceful mountain towns—Heber City and Midway—have become the newest regional hot spots for premium real estate. You dig outdoor activities? These are dream locales.
Only 20 minutes south of the better-known resort town of Park City, Heber’s million-dollar home market is expanding every bit as quickly as Park City moves farther out of reach. The same $1 million that buys you a mountain villa in Heber is barely enough for a ski cabin in Park City.
Ritzy communities have sprouted all over the Heber Valley, offering amenities designed to appeal to the elite.
“The Heber and Midway area is where a big chunk of the future growth is,” says real estate consultant David Lawson from Engel & Volkers. “When people come to Park City and look at what their money gets them, these towns get all the more attractive.”
7. Boston, MA
Share of $1 million-plus homes in 2017: 9.9% Share of $1 million-plus homes in 2014: 6.8% Million-dollar growth: 3.1%
Hey, what the heck is blue-blooded Boston—certainly no stranger to luxury dwellings—doing on this list of newbie million-dollar homes? While it’s true that Louisburg Square and Beacon Hill have no shortage of red-brick townhouses fetching $10 million or more, there’s new growth far from such trophy addresses, or those in wealthy suburbs like Brookline. An epic building boom in recent years has added thousands more luxury housing units, mostly apartments, in every corner of this town.
Ambitious developers have shoehorned glaringly modern, glassy apartments into neighborhoods of historic row houses. In the gloriously expensive South End and West End, condo units with custom cabinetry and 16-inch-deep cast-iron tubs range from $1 million to $2 million. Occasionally, you’ll come across a single-family home, but they usually start at $3 million.
Even perennially working-class neighborhoods like South Boston have seen a budding market for million-dollar homes.
8. Seattle, WA Downtown Seattle, WA
bluejayphoto/iStock
Share of $1 million-plus homes in 2017: 7.7% Share of $1 million-plus homes in 2014: 5.3% Million-dollar growth: 2.4%
As Seattle’s population of the “tech wealthy” and “global affluent” is on the rise, seven-figure homes are becoming the norm. Good deals are snapped up fast, virtually citywide.
Even once unimpressive neighborhoods like Ballard and Delridge have also seen dramatic shifts of late. Bungalows have been torn down to make room for new development. Newly constructed luxury condos and renovated century-old homes are proving extremely popular, thanks to their proximity to downtown and high-tech employers.
9. Santa Fe, NM
Share of $1 million-plus homes in 2017: 11.7% Share of $1 million-plus homes in 2014: 9.4% Million-dollar growth: 2.3%
If down-to-earth Santa Fe doesn’t strike you as a luxe market, check out designer Tom Ford’s $75-million ranch, which went on the market last year. Like Ford, many who own high-end homes in Santa Fe don’t live here full-time. They are vacationers or retirees who are attracted to the city’s renowned galleries, clear skies, and easy access to national forests.
The juniper-covered hills northwest of town are dotted with spacious estates with million-dollar price tags—ensuring privacy and panoramic views. Buyers often spot ranch-style haciendas that come with sprawling acreage for horseback riding, or gated adobes that honor authentic Pueblo-Spanish architecture.
10. Charleston, SC
Share of $1 million-plus homes in 2017: 7% Share of $1 million-plus homes in 2014: 4.9% Million-dollar growth: 2.1%
Beaches, mild weather, and beautiful historic homes—Charleston checks almost every box for a perfect place to buy a second home. And that’s why this old-world city has never fallen out of fashion among business moguls and celebs.
But lately it’s been the new-money class, many of whose members work in the city’s fast-growing tech game, fueling the upper-end real-estate boom. Developers have embarked on a new construction frenzy on the waterfront—many are tearing down old properties and building brand-new luxury ones.
“Charleston is sophisticated, artistic, and has incredible food,” says Thomas Bennett, a Realtor with Carriage Properties. “If you want to buy a nice second home on the coast between New York and Florida, this is it.”
Sullivan’s Island, about 15-minute drive from downtown, is a beloved spot to buy a lavish second (or fifth) home. Beach homes are built with broad piazzas and high ceilings to catch sea breezes. Only four homes on Sullivan’s Island are on sale for less than a million. Act fast!
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Top 10 Cheapest Countries To Visit This Year
As the year comes to a close, every travel lover starts planning their trips for the next year. As we all know, the cheaper the destination, the longer you can afford to stay – or the better your travel lifestyle can be while visiting. In some countries, $45 / night barely affords you a hostel dorm bed, while in others that can pay for a luxury villa!
In Canggu, Bali in Indonesia, you can get a 2 bedroom private pool villa for $50 / night, while when visiting Japan that same $50 barely affords a double bed on the floor of a small room.
This year is sure to be an amazing year for travellers and if you’re already planning your travels for the new year, then this post is for you. Some of these countries are cheaper now than ever, largely due to drops in their local currency on the global market, or due to a recent lack of tourism.
We would never write a post to revel in low prices at the cost of economic struggle, but by visiting these places independently now, you can not only enjoy better prices for yourself but also help the local businesses and people along the way.
See Also: Best Places To Visit in January
Here are the top 10 cheapest countries to travel this year:
Indonesia
White sand beaches, world-class surfing, the best scuba diving in the world and some of the most picturesque jungle and rice paddy scenery, Indonesia is without a doubt one of our favourite countries on Earth.
UPDATE  NOVEMBER 2019: We just came back from a trip to Raja Ampat in Indonesia and while it’s the one place in the country that isn’t overly cheap, it’s definitely worth a visit. This archipelago is known to be one of the top 3 best dive locations in the world and there are some relatively inexpensive accommodation options when you consider that you get full board and diving included in most room rates. Even if you’re on a budget, if you have time, don’t miss Raja Ampat!
Currently, Indonesia is one of the most affordable places that we know about. 1 US dollar will get you around 14,500 rupiah, which is 1,000 more rupiah than in 2018. Six years ago you’d only get 9,050 rupiah to the dollar.
As I said in the opening paragraphs of this post, Indonesia offers incredible value for accommodation, food and transport. Here you can get beautiful guest house rooms, often set in pool villas, for as little as $20 / night.
You can eat delicious seafood meals and millennial classics like “smashed avo on toast” for around $3 and you can rent a motorbike here for just a couple of dollars per day (cars are around $15 / day).
The only thing that’s not of great value is alcohol. Indonesia has placed a pretty heavy tax on imported booze, so a low-quality bottle of imported wine will cost around $20, while a drinkable local wine is still $13 – $15. Bintang beer is nothing to write home about, but it’s affordable at around $1.50 – $3 at a beach bar or restaurant and imported beer is around twice the price.
Out of all the countries we’ve travelled to and kept track of our budgets, Indonesia is definitely amongst the top 3 best value for money, and with a stronger dollar / weaker rupiah, this has never been truer than it is today. Don’t miss the islands of Raja Ampat, Bali, Sumatra, Sumbawa, Lombok, Gili Islands, Flores, Komodo National Park, Alor…and more!
*Note: Due to a (somewhat) active Mount Agung volcano on Bali island, there are some incredible hotel deals right now. Not only can you save money on accommodation, but you will be helping out the locals who rely on tourism. Check out Booking.com to see the current deals on hotels, guesthouses, resorts, etc., and click here to keep an eye on the status of the volcano.
Mexico
A diverse and delicious (albeit not very healthy) cuisine, friendly local people, world-class beaches, all the amenities you could hope for and an intoxicating vibe make Mexico a place that we return to time and time again. It’s one of our favourite countries to travel to and one of the few destinations where we could see ourselves living long-term. There are so many incredible places to visit in Mexico, and things to do that you could spend years here and not see it all.
Mexico is extremely affordable these days thanks to a struggling peso added to an already low cost of living. At the time of writing, the US dollar is at 19.6 pesos which is incredible. When we travelled here back in 2014, the dollar was at 12.8 pesos and even then we thought it was good value for money.
UPDATE NOVEMBER 2019:  The peso is still hovering just over 19 pesos and makes Mexico a very cheap place to travel. Consider visiting the less expensive states like Oaxaca and Puebla to save some extra cash and book some nice places on Airbnb to save money. 
Today the country is theoretically 49% cheaper because of the currency conversion to the USD (and many other currencies including CAD).
If you want to really save money while visiting Mexico, avoid coming here during peak season (November – March) when accommodation prices can skyrocket (especially in December) and many of the best places are booked out.
No matter when you come, Mexico will shock you with its great value. Tacos for 30 cents each, a kilo of fresh prawns from the fish market for $3, Coronas with a slice of lime for $1.50 and strong margaritas served to you while your feet are buried in the sand for just $1 each. You’ll find affordable internal flights with Viva Aerobus and Aeromexico, and cheap long-distance bus rides.
On top of the great prices for food and booze bought in restaurants and bars, Mexico has many shops that North Americans love, like Sams Club, Costco in the major cities, and one that not everyone loves, Walmart.
On top of these institutions, Mexico also has its own brand of grocery stores like La Comer and Soriana. Purchasing your own groceries and cooking for yourself is a great way to save money (and make a healthy meal) as the food in the grocery stores here is very affordable.
See More of Our Mexico Posts Here:
Things To Do in Puerto Vallarta – Top 20 Things You Won’t Want to Miss
Backpacking Mexico: Top 8 Reasons to Travel Mexico 
Mexico – The Best Digital Nomad Spot for North Americans
Things To Do in Cabo San Lucas
Best Places to Visit in Mexico – Don’t Miss These 12 Spots
Things To Do in Mexico – Top 51 List Of The Best
☞ Click here to compare prices and see reviews on the best accommodations in Mexico
☞ Click here to learn more about the tours available around Mexico
India
Oh yes, whether you love it or hate it, and even if you do love it you probably also hate it, India is one of the most exhilarating travel destinations on earth. Chaotic and tranquil. Pristine and filthy. Friendly and furious. Free and frustrating. India is the epitome of all the oxymoronic experiences that make travel so amazing.
While India is likely the most exciting and bewildering place to travel, it’s also probably the cheapest. Thanks to the Indian Rupee currently trading at 70 rupees to the dollar – which is 6 rupees more per dollar than you would have received in 2018 – India is likely the best place to travel if you want to stretch your dollars, euros or pounds.
Last time we were in India, I purchased the cheapest (yet filling) meal I’ve ever had while travelling. 20 cents bought me a pile of puris (fluffy fried bread) and two different types of curries served to me from a street cart. The meal was delicious and completely filled me up… amazing.
While the cost of that meal was exceptionally low, we often ate all you can eat thali meals for as little as $1.50 and drank fresh lime juice squeezed on the street for 15 cents a glass. We had free accommodation in ashrams (it doesn’t get much cheaper than that) and when paying for our hotels, we had decent but basic double rooms for around $3 per night.
Depending on what class of train and bus you take, getting around India can be unbelievably affordable, with a train from Mumbai to Kolkata covering 1,968 km and taking over 30 hours costs just $11!
See More of Our India Posts Here:
Budget Backpacking Guide to India
Guide to Transportation in India
Top Tips For Preparing for a Trip to India
Click here to compare prices on accommodation options in India with Booking.com
Click here to learn more about tours available around India
Colombia
After backpacking Colombia in late 2016, it quickly set itself amongst our favourite countries we’ve ever been to. Friendly people, incredibly pristine and lush jungles, stunning Spanish colonial cities and breathtaking beaches, Colombia is a traveller’s dream.
The Colombian peso saw a massive drop in recent years which unfortunately isn’t good for local economies and Colombians looking to travel, but it does give budget travellers an added incentive to visit this incredible country.
We met a couple in Medellin who decided to move to Colombia to retire in 2014. Since their arrival the peso went from 1,800 to the US dollar, all the way to 3,350, an incredible 88% drop, essentially giving their retirement a massive boost.
Luckily the peso has started to stabilize again slightly and at the time of writing it’s sitting at around 3,300 pesos to the US dollar. This means that everything in Colombia is a great value for travellers. Whether you’re visiting with a dollar, pound, euro, yen or yuan, Colombia is a better deal now than it’s ever been.
UPDATE NOVEMBER 2019: The Colombian peso took another small dive in July of 2019 bringing it from 3,200 to 3,400 per USD. This means that Colombia is even cheaper than before and makes it an excellent option for those looking to visit cheap countries in 2020 and beyond.
We were eating delicious seafood meals on the beach for just a few dollars, beautiful Spanish style guest houses only cost around $30 / night and you can enjoy scuba diving in the Caribbean here for as little as $24 / dive when buying a 10 dive package.
There are endless amazing things to do in Colombia, which can seem a bit overwhelming at times. Why not have a local plan a cool trip for you?! Click here to learn more.
We stayed in some of the best hostels we’ve ever seen in Colombia, with rooftop pools, funky bars and luxurious rooms (one even had a jacuzzi in it). The cost of tours and experiences is also excellent in Colombia. We highly recommend doing the 4 day Ciudad Perdida trek and a coffee tour in Salento (the latter is only $2).
See Also: 21 Things To Do in Cartagena
Cuba
If you’re looking for a cheap destination to visit in the Caribbean, then Cuba tops the list! You can travel here on an all-inclusive, but if you choose to travel to Cuba independently, you’ll have a far richer experience and it’ll cost you less. For cheap countries, Cuba is one of your best bets.
Stunning beaches, a unique Caribbean and Spanish vibe, tasty cooking (contrary to belief), friendly people and incredible landscapes, Cuba is a diverse country that needs to be on your list. For Americans, it’s possible to travel to Cuba if you travel under one of the allowed categories. People To People is what most people choose to travel under. But, it’s still a confusing process for our American friends.
You’ll need to build an itinerary containing activities that meet the criteria for People To People category — or get help from local experts to plan a legal trip (5% discount for Goats On The Road readers!).
Music on the Streets of Trinidad
We spent a month backpacking Cuba and it was a highlight of all our travel experiences. Meeting the Cuban people, dancing in the streets, lazing on virtually empty beaches, partying in Havana and hiking to tobacco farms were our most memorable moments.
Cuba’s currency is the CUC or the CUP. In general, you’ll use CUC (which is pegged to the US Dollar) for your accommodation, food at tourist restaurants, cocktails & beer, activities & excursions, car & scooter rentals, and the Viazul bus. CUP is used for smaller items such as fruit and veg from local vendors, the local bus and some peso food shops.
1 USD = 1 CUC
1 USD = 25 CUP
Staying in casa particulares with the local families is what Cuba is all about. This is the best way to meet the people and enjoy an authentic experience. However, Airbnb is cropping up in the country and there are some great places online. Casas will cost $20 – $30 / night for two people, discounts for 1 person (and oftentimes it includes breakfast), while hotels cost $25 / night up to $180+.
Airbnb is a great way to save money, even when visiting the cheapest countries in the world! If you would rather book an apartment or stay with a host on Airbnb, why not get an Airbnb discount while you’re at it? Make sure you use our special $55 Airbnb Coupon Code and save money on your trip.
The cost of food in the restaurants in Cuba really depends on which city you’re in, and which restaurant you are at. But in general, expect to spend between $5 – $10 for a filling meal. We recommend dining at least 1 night at your casa as they cook some amazing traditional food! Cocktails are about $2 – $3 at a bar.  Now, if you were to eat “peso food”, you would spend about $1 for a small meal.
Activities can be fairly cheap in Cuba as well, with chilling out on beaches and wandering around the stunning and bustling streets costing you nothing. Museum visits, caving, horseback riding and other tours will cost between $5 – $30. The cost of Cuba is incredibly affordable, making it one of the cheapest countries to visit.
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Bulgaria
Back to the truly great value destinations for the year, Bulgaria is probably the cheapest country we’ve been to in Europe. With gorgeous old towns, phenomenal wine, lovely coastline and super friendly and ailak (relaxed) people, Bulgaria is also one of our favourites in the region.
While the country has offered great value to travellers for decades, a recent dip in the Bulgarian Lev on the global market, means that Bulgaria is an even better value now than it was just a few years ago.
When we visited Bulgaria in 2016 we were blown away by the incredible value we got for our dollars. On one occasion, Dariece, myself and a friend sat in a restaurant bar for over 5 hours. We ate a massive platter of meat, veggies and bread and drank copious amounts of wine.
When the bill finally came, we thought there was a mistake, or we were misreading it in our double vision. That night we paid under $30 for that bill and we still don’t know how. The great deals continued as we travelled around Bulgaria, with lovely hostel rooms in 200-year-old buildings costing just $20 per night and bottles of wine at restaurants rarely breaking the $8 mark.
If you want to visit Europe, experience history, meet really cool people and taste some of the world’s best wine while never breaking the bank, Bulgaria should be on your travel wish list this year. This is definitely one of the cheapest European countries.
South Africa
One of the most adventure packed and naturally blessed countries on Earth, this list wouldn’t be complete without our favourite country in Africa. South Africa offers visitors too much to see in any trip under 6 months. With a rugged and stunning coastline, incredible wildlife, extremely friendly people, tasty Indi-afro fusion food, decent roads and great prices, you really can’t beat SA.
We believe that this country on the south tip of the continent is the perfect beginner’s stepping stone into the more chaotic and rustic travel of other countries in the region. South Africa is relatively easy to travel, especially if you rent your own car (highly recommended).
What makes South Africa so affordable in 2019 is the cost of the rand. While it’s not trading as well as it was at the beginning of 2016, at 14.4 rand to the USD, a trip to South Africa is 14% cheaper than last year when it was 12.6 rand to the US dollar.
UPDATE NOVEMBER 2019: South Africa has had some more speed bumps in its road to stability lately and while most locals will tell you it’s still safe to travel there, it’s worth checking travel warnings before you go. There have been some significant displays of prejudice and violence there recently. While these incidents are largely focused on certain groups of people and wouldn’t likely affect travellers, it’s important that you’re aware of the situation on the ground before visiting. While we normally believe that these warnings are overexaggerated, it’s worth checking travel.state.gov for South Africa.
When we were last there in 2011, we received just 6.7 rand to the dollar, but everything was still great value.
We paid $40 / night for lovely double rooms, around $7 / meal and just $10 to enter some amazing national parks. Take into consideration the current 53% discount based on the currency devaluation and these all become incredibly affordable in 2019, even considering the rate of inflation since 2011.
Turkey
Possibly the most liberal of the countries in this area, Turkey attracts visitors with one of the most exciting and beautiful capital cities on Earth, Istanbul. Plus, this country offers a blissfully alluring Mediterranean coastline, amazingly friendly people (especially in the east) and an intoxicating Islamic culture and architecture.
The value for dollar in Turkey has always been great, but with the Turkish Lira dropping from 1.28 to the US dollar in 2010 to the current 5.27 today, the home of the former Ottoman empire is essentially 75% better value than it was 10 years ago. 2019 is the cheapest time to visit Turkey as the Lira has hit a 10 year low.
Every time we visit Turkey we are amazed by the value for money found here. You can eat delicious meals of traditional Turkish food for $5. Portions here are often so massive that you could share a meal and that cost. Tasty kebabs are just a couple of dollars on the street and you can get lovely guest house rooms here for under $20 / night (more in the major cities).
One of the costs that does add up in Turkey is the cost of visiting mosques. Many of the best ones in Istanbul for example, cost as much as $10 to enter. If you’re on a tight budget, consider only visiting a couple of paid mosques and try to find some others that you can enter for free.
Thailand
We have to include the land of smiles on this list of cheap travel destinations for 2019. Thailand has always been one of our favourite countries in the world and the budget backpacker that still resides deep inside our souls rejoices every time we return. There are numerous places to visit in Thailand – whether you want National Parks, jungles, cities or islands, there’s a place in Thailand for you.
The Thai Baht, although it has seen some dips and spikes, doesn’t make the country especially cheaper than it has been in the past few years, but that doesn’t matter. Thailand simply offers some of the best value for money you can find anywhere on earth.
Lovely guest houses and beach huts right on the sand for as little as $15 / night, spicy and mouth-watering Thai dishes for under $2 a plate, and scuba diving for under $20 a dive makes Thailand a constant competitor as one of the cheapest countries in the world.
When we first visited in 2008 we were amazed to find budget (albeit extremely basic rooms) for under $10 and when we returned this year on a higher budget, we couldn’t believe the luxury, 2 bedroom private pool villa we were able to afford for just $1,500 / month ($50/night!).
Your biggest expense when travelling in Thailand (depending on where you’re coming from) will likely be your flight, but once there you can enjoy an incredibly low cost of living and the warmth of the local people who have made this place famous.
See Also:
Things To Do in Bangkok
Cost Of Living in Thailand 
Things To Do in Pai
Things To Do in Chiang Mai
Places To Visit in Thailand 
Greece
If this list was in the order of most beautiful and best value for money, Greece would no doubt be near the top. It’s amazing how a place so beautiful, set right in the Mediterranean, can be so affordable.
Greece has been on the Euro since the start of 2002, so while there has been a 16% devaluation of the Euro in recent years, Greece was always affordable, but perhaps never as much as it is today. What likely contributes to this is the unfortunate struggles that the Greek economy has seen in recent years and the influx of refugees. So perhaps Greece more than any country on this list can benefit from more tourism.
With such great value, Greece is the perfect place for 2019. We rented a beautiful, modern, 550 sq ft studio apartment with a view of the sea for under $20 / night on Zakynthos Island. We also had another 2 level, 1 bedroom apartment with a pool near the south coast of Santorini for under $20.
Greek food is incredibly delicious and you can usually get tasty seafood meals in restaurants for under $8. On top of the already great value, Greek restaurant owners and chefs have a habit of offering their patrons freebies, like free wine, appetizers and desserts. Whenever you’re leaving a traditional Greek restaurant in Greece, you’ll be fat and full and so will your wallet.
On top of good food and accommodation value, activities in Greece are typically priced well too. We did a free honey bee tour, an olive oil tour and tasting for $35, a half-day cycle tour for $24, an amazing cooking class with unlimited booze and food for $65 and winery visits and tastings for under $5.
We also rented our own boat on the island of Corfu and drove it from bay to bay for an entire day. This cost us $95 plus gas, which isn’t overly “cheap” but considering Sea-Doos and Jet Skis typically rent for around $50 / hour, we thought this was an amazing deal for both of us to enjoy a full day out on the water.
All-in-all, Greece is definitely one of the cheap European countries to visit and it offers some of the best value for money in all of Europe. Considering its location on the map and the level of quality you find here, it also competes as one of the best value travel destinations on earth.
See Also:
Places To Visit In Greece
Best Beaches in Greece
5 Day Travel Guide to Kefalonia
Things To Do in Chios
5 Day Travel Guide to Lesvos
Things To Do in Athens
Bonus! Argentina
Whether you’re into culture and history, nature and landscapes, lakes and fishing, or cities and wine, Argentina has something for you…and right now it’s one of the cheapest countries to visit.
Since Argentina is such a vast country, with a wide variety of landscapes and regions, it can be visited year round.
Argentina is known for being one of the top fly fishing destinations in the world. If you’re an angler, fly fishing season in the Lake District of Patagonia is best in January & February due to the warm weather, and ability to fish all waters during this time.
For trekkers, the winter months are a good time to hit the mountains of Patagonia. El Chalten in the south is dry and has temperatures around 20°C (68°F), perfect for checking out the peaks of Fitz Roy and Cerro Torre, exploring waterfalls, drinking beer on patios and much more.
Don’t miss nearby El Calafate and its popular Perito Moreno Glacier, which calves massive chunks of ice every few minutes.
If all of these places to visit in Argentina aren’t enough to spark your interest, maybe the cost will. When we travelled to Argentina in 2017, we received around 18 Argentine Pesos for 1 US Dollar.
According to XE, at the time of writing, the rate is $1 USD = 37.85 Argentine Pesos.
UPDATE NOVEMBER 2019: The conversion rate is now at $1 USD = 55.5 Argentine Pesos. This is an incredible development and easily makes Argentina one of the best value countries to visit in 2020 and beyond. It also means that the economy is struggling so you visiting the country and spending your foreign currency on local businesses could help Argentinians get back on their feet.
This drop in currency means that travelling to Argentina would cost you less than half of what it cost us in 2017. Rooms that were priced at $150 a night, now cost $71. Fantastic dinners of rib eye steaks and Malbec wine which cost us $50 for two people, now go for just $23.
Argentina isn’t known for being one of the cheapest countries to visit, but with the current instability of the peso, you can definitely save some money by visiting now and maybe help the local economy along the way. We highly recommend this South American country.
Where Will You Go?
As the world becomes more connected by budget flights and advanced communication and commerce, many places are becoming more and more expensive to visit with each year that passes. Aside from the cost of flights which have been reduced thanks to budget airlines, travel is typically more expensive now than it has been in the past.
Thankfully, there are still some incredible countries that always offer travellers great value for money. The most exciting countries in the world are often those that are still developing. For visitors, this means low prices but also a better understanding of the world economies and wealth disparities.
We always recommend visiting countries independently so that you’re giving the most amount of money back to the local communities as possible. Rather than always staying in American or European chain resorts, consider locally owned guest houses, hostels and homes.
Instead of joining a foreign-owned tour, consider heading there on your own and hiring guides yourself once you’re in the country. Not only will this likely be much cheaper for you, it will also enrich your experience in the places you visit.
We’ve listed 10 of our favourite budget travel destinations in this article, but the list is by no means exhaustive.
What’s your favourite place to travel on a budget and why? Comment below and start a conversation!
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