Cost Of Living
The definition of cost of living is the amount of money you need to have in order to sustain a certain lifestyle. The cost of living refers to the amount of money you spend on housing, food, gas, and other items. It is an easy way to measure a person's standard of living and cost of living estimates allow for comparison between locations.
Cost of living and lifestyle
The cost of living is an index. A numerical value that shows you if your expenses are high or low. This makes it possible to compare the cost of living between cities, states or countries. The cost of living is highly determined by the area you live in, it’s economy, the job market, and others.
If a city has a high cost of living we consider it an expensive city. On the other end, a city with a low cost of living is a more affordable city. This classification is possible at a larger scale, therefore, counties, states, and nations have a cost of living associated with them.
The standard of living is also impacted by a person’s income. A high income in a city with a low cost of living offers that person a comfortable lifestyle. On the other hand, expensive cities with a high cost of living, means those common items, as well as payments, are going to be higher. That would require a higher salary if you want to sustain the standard of living in an expensive city.
Popular Real Estate Terms
A written, legally enforceable document used to transfer title to real estate, See also quit claim deed; warranty deed. ...
Reference to let the vendor beware. Without specific exemptions, the vendor is obligated for action by the buyer for any explicit or implied modifications in the contract or warranty. ...
Wood sheeting made from gluing together at lest three layers of veneer. The grain is placed at right angles with each adjoining layer's providing additional strength. ...
Increase in the value of property caused by inflation. For example, John buys a home for $150,000. Because of inflation, the home is worth $200,000 five years later. The inflation equity in ...
Precisely the optimum location for a retail business establishment in an urban central business district (CBD). A one-hundred-percent-location normally is a square block or intersection in ...
The Graduate, REALTOR® Institute is a designation given to real estate agents who have completed the curriculum developed as an educational attainment program by the National ...
Just to be clear: an Open house is not when you invite friends over to meet your new house. At least not in the real estate world.When you hear someone talking about an Open House, they ...
Rights, interest, and benefits inherent in the ownership of real estate, as distinguished from personal property ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
Have a question or comment?
We're here to help.