Moving to Columbus, Ohio

Quick insights

• Columbus, Ohio, has many unique neighborhoods catering to various lifestyles. In the Short North Arts District, you’ll find trendy galleries.  Clintonville has charming tree-lined streets and offers proximity to the breathtaking Park of Roses.
• Columbus provides ample leisure and recreational activities. The city is home to the Scioto Mile, Franklin Park Conservatory and a variety of sports teams like the Columbus Blue Jackets (NHL).
• The city has a strong job market with opportunities in the healthcare, technology, education and finance sectors. Columbus has many cultural amenities like museums, theaters and annual festivals like the Doo Dah Parade.

As a first-time homebuyer moving to Columbus, you can immerse yourself in a city rich in history and brimming with modern vitality. As the capital of Ohio, the cultural scene is quite impressive, featuring highlights such as the Ohio Theatre, the Columbus Museum of Art and the annual Columbus Arts Festival. These amenities can help first-time homebuyers achieve a more balanced lifestyle with opportunities to relax, enjoy nature and engage with the community through outdoor activities. Moving to Columbus means embracing a city that offers cultural and recreational activities that contribute to a high quality of life.

Living in Columbus, Ohio

Columbus is a growing city with a rich tapestry of history and an evolving urban landscape full of possibilities. Its extensive neighborhoods, such as the artistic Short North, the historic charm of German Village and the family-friendly atmosphere of Clintonville, each offer a little piece of city life to residents. Clintonville can be a great neighborhood for families and nature enthusiasts, offering proximity to the breathtaking Park of Roses.

Beyond the residential charm, Columbus has a thriving cultural scene, from renowned museums and theaters to lively annual festivals like Doo Dah Parade (which is a quirky parade with humorous floats and local bands). Columbus also has several good school systems in the suburbs, quality healthcare facilities and an abundance of recreational options.

Visit Columbus’ top attractions

Recreational opportunities are bountiful with the Scioto Mile, Franklin Park Conservatory and Botanical Garden and Columbus Zoo and Aquarium. Sports fans can cheer on the Columbus Blue Jackets (NHL) at the Nationwide Arena or attend a Major League Soccer game with the Columbus Crew.  The city offers a blend of cultural experiences, beautiful greenery and recreational activities catering to various interests and lifestyles.

Columbus transportation options

The Central Ohio Transit Authority (COTA) operates buses throughout the city, but service can be infrequent, and routes may not cover all areas comprehensively. However, Columbus is served by many major transportation routes including Interstate 70, Interstate 71 and Interstate 270.

The Capital Limited and the Cardinal routes (Amtrak) serve Columbus with connections to cities like Washington, D.C., and Chicago. The primary airport serving the city is the John Glenn Columbus International Airport (CMH), offering domestic and some international flights. It is about 6 miles east of downtown Columbus.

Factors to consider when buying a home in Columbus

There are several key factors to consider when buying a home in Columbus:

• Determine your housing needs: Consider the number of bedrooms and bathrooms and overall square footage. Do you want a home office, a finished basement or a large backyard?
• Location: Evaluate different neighborhoods based on their proximity to your workplace, schools, local amenities and the character of the area (i.e., urban, suburban or rural)
• Home prices: Home prices will vary significantly by neighborhood, home type, market conditions, condition of the home, size and layout.
• Budget and affordability: Determine your financial limits by assessing your finances to understand how much you can comfortably afford including down payment, monthly mortgage payments and additional costs. Utilize a mortgage calculator to estimate monthly payments based on home price, interest rates and loan terms.
• Commute times: Assess the average commute times to your job or key destinations. Consider how traffic patterns and neighborhood density might affect daily travel.
• Amenities: Look for nearby amenities like grocery stores, restaurants and entertainment options. Ensure you have easy access to essential services such as post offices, banks, healthcare facilities and public transit.
• Utilities and maintenance: You may want to budget for utility costs like water, gas and electricity, as well as routine maintenance.
• Home insurance: Homeowners insurance costs will vary based on coverage levels, property location and home value.

Pros and cons of living in Columbus, Ohio

Living in Columbus, Ohio, offers a balanced mix of affordability, employment opportunities and a buzzing cultural scene. It is critical to consider potential weather challenges and traffic concerns.

Pros of living in Columbus

• Low cost of living: According to Payscale, the cost of living in Columbus, Ohio is lower than the national averageec-payscale-cost-ohio.
• Strong job market: Columbus has a robust economy with major employers in education, healthcare, technology and finance.
• Diverse food scene: Columbus offers a variety of local culinary options, including popular dishes like pierogis and craft beers. You can also check out 
• Outdoor recreation: The city has beautiful green space including serene parks such as Highbanks Metro Park and Franklin Park Conservatory. Both green spaces offer opportunities for hiking, biking and scenic spots.

Cons of living in Columbus

• Varying weather conditions: Temperatures can be quite high during the summer months, often reaching into the 80s and 90s. Winters can also be harsh with snow and temperatures occasionally dipping below freezing.
• Traffic congestion: Peak traffic hours may lead to significant delays, particularly on major routes and in downtown areas during rush hour.
• Limited public transportation: While the city has some public transit options, the system is not extensive and can be limiting to individuals without a personal vehicle. According to Walk Score, Columbus has a transit score of 30, indicating limited public transportation options compared to other cities.

The cost of living in Columbus, Ohio

As mentioned above, the cost of living is lower in Columbus. In recent years, home prices have been increasing due to higher demand and limited inventory, but Columbus remains more affordable compared to other major cities in Ohio like Cincinnati. Rent prices will vary depending on neighborhood, size and amenities. Utility costs may fluctuate based on the size of your home and usage patterns. Grocery expenses will vary based on your dietary preferences and shopping habits.

 Tips for budgeting and managing finances

• Create a realistic budget: Track your monthly income and expenses to ensure your spending stays within a reasonable limit. You can also use budgeting tools or apps to manage your finances more effectively.
• Plan for savings: Allocate a portion of your income for savings and unexpected expenses to build a strong financial cushion.
• Compare prices: Shop around for insurance, utilities, internet and other recurring expenses to find the best possible deals.
• Utilize local resources: Take advantage of the lower cost of living for dining out, entertainment and other leisure activities to maximize your budget.

Exploring homebuying options in Columbus

Exploring different homebuying options in Columbus can help you find a suitable home that meets your needs, wants and budget, while leveraging available financial assistance and mortgage solutions.

Types of homes available

Before embarking on your house hunting journey, you may want an overview of the different types of houses found on the market, such as single-family homes, townhouses and condos:

• Single-family homes: Detached homes offering privacy and often a backyard. This is the most common type of residential property in suburban and some urban areas. The benefits of buying a single-family home include additional space for families, customization options and potential for expansion or renovation.
• Townhouses: Multi-story homes that share walls with neighboring units. They are usually located in planned communities. The benefits include lower maintenance and access to community amenities like parks or pools.
• Condos: Individual units within a larger complex. Condo owners share common areas and amenities with other residents. The benefits include lower maintenance costs, often located in desirable urban areas close to amenities.

Mortgage options in Columbus, Ohio

• Fixed-rate mortgages: The interest rate remains the same throughout the life of the loan, providing predictable monthly payments. The potential benefits may be stability in budgeting and protection from interest rate fluctuations. A 30-year fixed-rate mortgage is a popular conventional loan.
• Adjustable-rate mortgages (ARMs): With an adjustable-rate mortgage, interest rates can change periodically based on market conditions. A potential benefit is that your initial payments may be lower in the beginning. Consider the possibility of higher payments if interest rates rise, leading to probable financial uncertainty.

Government programs and incentives

• Ohio Housing Finance Agency (OHFA): The OHFA program offers many programs for first-time homebuyers, including down payment assistance and reduced interest rates through the Ohio Housing Trust Fund.
• First-time homebuyer grants: Grants and assistance programs are available to help first-time homebuyers with down payments and closing costs. An example of a financial assistance program is the Columbus Down Payment Assistance Program.
• Federal Housing Administration (FHA) loans: FHA loans are designed to assist first-time homebuyers and individuals with lower credit scores. The down payment requires as little as 3.5% down, making it more accessible for homebuyers with limited savings.
• Veterans Affairs (VA) loans: VA loans are available to eligible veterans, active-duty service members and certain members of the National Guard and Reserves. This loan program often requires no down payment, which can significantly reduce the initial cost of buying a home.

Navigating the homebuying process in Columbus, Ohio

• Determine your budget and preferences: Review your budget, including how much you can afford for a down payment, monthly mortgage payments and other homeownership costs. Identify your must-haves and preferences such as location, size, layout and type of home.
• Find a real estate agent: Look for real estate agents with local expertise and a good track record in Columbus. Working with a home lending advisor in Columbus can help you potentially secure better rates and terms, while also providing personalized service and quick responses. 
• Get preapproved for a mortgage: Gather your financial documents like W-2s, pay stubs and tax returns. Compare different mortgage rates and terms. Secure a preapproval letter to show sellers that you’re a serious buyer.
• Start your home search: Visit multiple neighborhoods in Columbus to find the best fit for your needs and lifestyle. Check out different properties and attend open houses to assess potential homes. Make a competitive offer based on market conditions and property value.
• Home inspections: Hire a home inspector to assess the property’s condition. A home inspector can identify issues not immediately visible, such as structural problems or plumbing concerns. You can use the inspector’s findings to negotiate repairs or request a price reduction from the seller based on the identified issues.
• Negotiate and review contracts: Negotiate the purchase price and terms with the seller. Carefully review the purchase agreement and other documents.
• Final walkthrough: Conduct a final walkthrough of the property to make sure it’s in the agreed-upon condition.
• Closing meeting: Attend the closing meeting to sign documents, pay closing costs, finalize the mortgage and transfer ownership.
• Move in: Get the keys to your new home! Plan your move by hiring movers or handling it yourself, updating your address with the USPS and notifying important contacts (i.e., banks, employers and insurance providers).

In conclusion

Buying a home and moving to Columbus, Ohio, presents a unique opportunity for first-time homebuyers to enjoy a vibrant, culturally rich and economically growing city. When considering buying a home in Columbus, it’s important to assess your housing needs and financial circumstances. The median home price in Columbus remains affordable compared to many other U.S. cities, making it a compelling option for first-time homebuyers and individuals looking to relocate.

When choosing a home in Columbus, there are several factors that might influence your decision such as proximity to work, quality of schools, local amenities and access to essential services. With careful planning, you can find a home that meets your lifestyle preferences and allows you to thrive in this flourishing city.