Home Buying Has Become Even More Competitive

Stepping Into Family Finances | How Much You Need to Make to Buy a Home Today | 10 Best States To Relocate to in 2024 Created for {EMAIL} | [Web Version]( November 30, 2023 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] INTRODUCTION [] - [Stepping Into Family Finances]( Mortgage rates have [ticked down]( and that’s good news for buyers and sellers. But the outline of the average homebuyer shows it takes a lot more to buy a home than it did before. Kiplinger contributor [Kathryn Pomroy]( delves into how the profile of homebuyers has changed in response to higher mortgage rates and [reduced inventory](. She has also taken a look at a list of the 10 best states to relocate to in 2024. These states were chosen for many reasons including the price of housing. I plan on taking a very close look at these options. Relocating brings a lot of change – but probably not as much as being part of a blended family. Adjusting to the new day-to-day normal isn’t the only way lives change. And it’s not hard to grow affection for new family members, but including them in your financial life must be done with care and deliberation. We have some expert advice to help you understand and navigate the financial entanglements of new and old relationships. - Donna LeValley, personal finance writer [Are You in Your 40s and 50s and Overlooking a Tax Break?]( In Athene's recent quiz survey, 1 out of 4 respondents believed that only children could be claimed as a dependent. But if certain criteria are met, even a parent can qualify as a dependent. [READ MORE]( ADVERTISEMENT [] TOP STORY [] [How Much You Need to Make to Buy a Home Today]( [How Much You Need to Make to Buy a Home Today]( (Getty Images) Buying a home has become harder as inflation and [rising interest rates]( have caused many to put buying on hold. I know many people who want to relocate — but don’t want a mortgage at twice the rate they are currently paying. A recent survey by the National Realtors Association showed that [the median household income for home buyers hit a record and down payments have risen to a more than two-decade high](. It’s no wonder why so many parents are [helping their children]( buy homes. [] PLACES TO LIVE [] [10 Best States To Relocate to in 2024]( [10 Best States To Relocate to in 2024]( (Getty Images) Remote work has upended the traditional relationship between where you live and work. Even Silicon Valley, with its great weather and comfortable campus workplaces, has seen employees relocate. I’ve been mulling over trying out some different cities and locales and I’m going to start by looking over this list we have compiled. [Keep reading and discover the 10 best states to relocate to in 2024](. [See A Comparison of High Yield CD Rates]( FDIC or NCUA insured. $1 minimum deposit. 24/7 online access to funds [READ MORE]( ADVERTISEMENT [] FAMILY FINANCES [] [Creating a Blended Family? Three Key Steps to Consider]( Blending families impacts everyone. I think most people fail to realize how to adequately plan for the complexity these new relationships can bring. Parents and grandparents need to be mindful of how to integrate those members into their financial and estate plans. Adam Frank, head of wealth planning and advice at J.P. Morgan, [provides steps you can take to help plan for the future and pass your legacy on to your loved ones as intended](. [12 Reasons to Use Empower to Help You Plan Your Retirement]( Easily include additional sources of income such as Social Security, rental income, pensions, and windfalls. 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