Fort Wayne ranked fifth best city for first-time homebuyers

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FORT WAYNE, Ind. (WANE) – A national financial technology company has ranked Fort Wayne in their top 10 cities in America for first-time homebuyers. Smartasset released a study that calculates the Summit City at number five in the country.

Thomas Etue can understand the ranking. He and his fiance got an affordable house on their first bidding process. They moved from Chicago to an apartment in Fort Wayne back in March, both landing new jobs. But they didn’t land a house until this week, when they finally closed on a home in the North Highlands neighborhood.

“Finding the house was hard because they go so quickly but we have a great agent, Sam Hartman,” Etue said.

Hartman of Coldwell Banker Real Estate Group emphasizes that Fort Wayne is very affordable and agrees with Smartasset’s assessment in which they gave Fort Wayne a 95 out of 100 for affordability. That helped put the city at number five on their list of best cities for first-time homebuyers. Other factors were home market favorability, livability, and employment.

Hartman said while the Fort Wayne market is strong for those looking to buy homes, shoppers should keep one thing in mind.

“It is a great time to be a first-time homebuyer because interest rates are so low but it is not necessarily an easy time to a first time homebuyer because our real estate market is extremely competitive right now,” he said. “So when you hear it’s a great time to be a first-time homebuyer that’s absolutely true, but it’s more important than ever that you’re really prepared for the process.”

Hartman explained that buyers should have their finances in line and know their shopping budget when they plan to buy because when a house goes on sale in the current market, many bids rush in. Then, that house sells very quickly and there’s little to no negotiation on cost. So ideally, buyers need to come to the table ready to seal the deal with a competitive first bid.

Etue and his fiance were able to win their first bid with Hartman’s assistance. They even bought their new home under budget.

“I’m excited man,” Etue said. “I can’t wait. First house. I’ve been in apartments a long time so it’ll be nice to have my own space finally.”

To learn more about the study, visit Smartasset’s website.

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