Where Is the Cheapest Real Estate in Hawaii?

Andrew

Living in paradise comes at a price and this cannot be truer for Hawaii, which has some of the most expensive properties in the country. What’s more, the cost of living in the Aloha State is around a third higher than on the mainland. Still, this should not put you off buying a property on one of the major islands Oahu, the Big Island, Maui, Kauai and Molokai. Check out the places with the cheapest real estate in Hawaii, by local standards, of course.

Hilo, the Big Island

This beautiful old town has a center full of shops and restaurants, while being surrounded by beautiful nature. The Liliuokalani Gardens and Wailuku River State Park are right at your doorstep. The best part of all is that the median home price is $301,300.

Waikele, Oahu

The median home price in this town is $414,400, but you have to keep in mind that the real estate market is quite diverse and therefore you can find both cheaper and much more expensive properties. Homebuyers should know that Waikele is known primarily for its good schools and friendly community.

Waimea, Kauai

If you want to enjoy relaxed country living, then this small town may be the right place for you to buy a property in Hawaii. The median home price of $403,400 makes Waimea the cheapest town on Kauai when it comes to real estate. While it has only two supermarkets, it’s on the edge of the magnificent Kokee State Park.

Waianae, Oahu

This small community is far away from the hustle and bustle of Honolulu and boasts some of the best and least crowded beaches in Hawaii. Kapolei with all its enmities is fairly quick and easy to reach, however. The median home price is $308,900 which is over two times lower than the median for Oahu.

Wailuku, Maui

This is one of the cheapest places to live on the island popular with its resorts. While the median home price of $566,500 may seem a bit steep, it’s among the lowest on Maui. The town is peaceful and has a very slow pace – you can walk and cycle literally everywhere.

Ewa Beach, Oahu

This town currently offers some of the best value for money when it comes to Hawaii real estate. The median home price of $598,400 is expected to rise at a steady pace in the coming years. The main reasons for this are the family-friendly setting, the spacious homes and the wide variety of amenities, from beaches and community swimming pools to golf courses.

Housing benefit for single person under 35 years in UK

Andrew

In the United Kingdom, there are certain housing benefit rules that are applicable to people who are single and under 35 years of age. This article will give a brief overview of these rules and explain how you can take advantage of them.

Eligibility

Before you apply for housing benefit, it is advisable to use a benefits calculator to confirm if you are eligible. There are instances when you might be required to claim Universal Credit. For you to qualify for housing benefit, these are the requirements:

  • Your savings are below £16,000
  • You pay rent
  • You are claiming benefits or have a low income

You are eligible to apply for the program, no matter if employed or unemployed. However, if you are living with a partner, only one person will get a housing benefit. If you qualify, you will be in a position to get a benefit for a single room in shared accommodation or a bed-sitter accommodation, if you are a lone.

Who is not eligible for a housing benefit?

  • You have saving of more than £16,000
  • You are sponsored to be in UK or an asylum seeker
  • You are a full-time student
  • You live in a relative’s home
  • You are living in the country as an European Economic Area jobseeker
  • You are under immigration control

The Shared accommodation rate

This refers to the rent level that is allowed for an individual who can afford one bedroom and shares a living room, kitchen and bathroom within the conditions of the tenancy agreement. In such a case, you can get housing benefit at the rate of a single shared room. This means that you may not get enough money to pay the house rent.

What happens to those who are under 35 and are renting privately?

In a situation where you have rented self-contained house, you are eligible for the local housing allowance rate for a one-bedroom house on the condition that:

  • You haven’t been paid housing benefit in the previous year
  • You were able to cater for your rent when you moved in.

In such a scenario, housing benefit will cover your house rent for the first 13 weeks. After the 13 weeks, you can only get the rate of shared accommodation.

Students

Full-time students are no eligible to claim housing benefit although there are a few exceptions. Part-time students who rent privately are allowed to claim housing benefit. Those who live in university owned housing are allowed to claim housing benefit if they fall into specific categories.

Additional Factors that are taken into account when determining housing benefits

After the Housing Executive decides on the rent level that will be used for the calculation of the benefit size, they must conduct a means test and consider all non-dependant deductions.

Means Test

The Executive will evaluate your weekly income to determine whether it is higher than what the government recommends. If so, you must use some of the money to pay your rent and contribute towards rates and charges.

Non Dependant Deductions

If you have a roommate, the Housing Executive may reduce the housing benefit that will be awarded to you.

How to Find Down Payment Assistance For Nurses

Andrew

How does it feel when you’ve spotted the perfect home and you are sure that covering the monthly mortgage and bills won’t be a problem? It feels great, right? Unfortunately, the problem comes when the lender requests a down payment. In most cases, nurses are not in a position to pay the down payment as requested. Could this mean you are not lucky?

Not quite. Today, there are more than 2000 down payment programs that will come to your rescue as long as you meet eligibility requirements. These requirements have to do with credit, occupation and income. It is unfortunate that many people are not aware of down payment assistance programs or assume that they can’t qualify.

How can you find a down payment program?

If you conduct a good online research, you’ll find a couple of down payment resources that have a calculator to show you if you are eligible and what you need to do to be eligible. You can find a variety of listing services that have an icon on the various properties that qualify for down payment assistance programs.

Nurses are advised to consult their lender or real estate agent for programs available in their counties since they change from time to time.

Types of Home down payment programs

Down payment programs

These types of programs are mostly about soft mortgages or grants. You can get benefits such as forgivable loans, deferred payments and 0% interest rates. With such a program you can get assistance in the form of tens of thousands of dollars to use for down payment, principal reductions, closing costs and the like.

When buying a property in certain areas that are designated by housing finance agencies, you will enjoy the benefit of higher assistance amounts and more lenient income requirements.

Affordable First Mortgages

Some of the housing finance agencies that are at state level provide first mortgages that accompany down payment assistance programs. The good thing about these mortgages is that they offer an affordable interest rate and a reduced closing fee.

Who offers down payment assistance programs?

  • Housing authorities
  • Employers
  • Cities and counties
  • State Housing Finance Agencies

A high percentage of first-time home buyers encounter difficulties with the purchase due to down payments. Fortunately, there are thousands of homebuyer programs that are available to offer assistance to nurses and other civil workers. Just ensure that you meet the eligibility requirements and you’ll be good to go.