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
Accurate measurement of land for the purpose of determining the boundaries of its perimeter, its contours, and area. Survey are generally required by banks and other lending institutions as ...
How much of an investment made in real estate has been recovered expressed in dollars or in percentage terms. ...
If you’re in the business of purchasing properties, maybe as a real estate investor, you might be wondering what is cost segregation. Well, first of all, it’s a study that deals ...
Net return rate earned on an equity investment in real estate after deducing any interest costs and taxes. ...
The Exclusive Right to Sell Listing is a type of Listing where the Listing Broker/Agent wins his/her commission even if he/she wasn’t directly responsible for the sale.Let’s ...
person's behavior partly genetic and partly learned through experience over time. Some people have good personal traits while others have poor ones. ...
The best atrium definition is that of a room with a roof open displaying the sky, but as with most things architecture (or even art) the atrium definition has changed with the passing of ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...
Individual engaged in selling a product or service. The product may be an investment in real estate. In some instances, state law may require licensing to safeguard the public by requiring ...
Have a question or comment?
We're here to help.