There are many reasons why this state is getting more and more popular. There is a moderately growing population, a lot of companies are opening their offices there, and you can enjoy a comfortable weather conditions throughout the whole year.
According to the statistics, it is the fastest-growing place in the US in recent years. Also, we have to mention that this area is very attractive due to beautiful landscapes and a lot of various activities available. Besides that, the average prices of buying and renting are lower than the average.
These are all factors that are affecting the real estate market in this place. The average value of a house raised by nearly 15%. The number of sold properties also raises for more than 10% when we compare it to the last year.
If you are interested in buying a house or apartment in North Carolina, there are some things to consider first, such as the reason why you are investing, are you planning to live there or rent, and which part of the state is the best for those who want to resell the house at some moment. Here are the best options in 2023.
Raleigh
The average price of a house in this city is around $450,000. Also, the important detail is that the appreciation is over 25%. The average income in this area is nearly $80,000. The rent is lower when compared to many other regions, and it is around $1,200 per month. Moreover, this city is very popular for tourists, with millions of them visiting this place each year.
For instance, there was nearly 16 million of them in 2021. That also represents an important detail for those who are interested in buying a house or apartment that they will rent after. Enjoying a lot of entertaining events is secured in this city since there are many sports events, music performances, and more. Besides that, the city is surrounded by beautiful nature a lot of parks.
Topsail Beach
One of the main reasons why this might be the perfect option for you is the fact that you will be able to buy a house with a view of the ocean for an incredibly lower price when compared to many other locations. There are some bigger cities nearby, such as Jacksonville and Wilmington. It has a perfect weather throughout the whole year, and the winter is not harsh.
It is common that the average daily temperature in January is above 10 degrees Celsius. You can enjoy in various water activities from May to October. This place is very popular for surfing, fishing, and diving. If you are interested in buying a property here, the most important thing is to check more details about the Topsail Beach Real Estate.
Jacksonville
This is the most popular option in this state in recent years, and that is for a reason. First of all, the average price of houses is under $250,000. Also, you can expect an annual increase in value of over 20%. It is perfect for those interested in getting a mortgage as well due to very close mortgage to rent ratio of over 80%.
While it is a small city will less than 100,000 people, it attracts a lot of tourists due to various events that are organized there all the time. Most of the population are people in their 20s, and the reason for that is that a lot of students are attending the Carolina College.
Durham
Those interested in buying a house so they can rent it after that should check out the available houses in Durham since this city is getting more popular and is offering some excellent terms for that kind of investment. The average price of a house is around $430,000 at the moment. However, things are changing rapidly in this city due to the plan to increase the population by over 200,000 people in the next 20 to 30 years.
Also, renting is very popular because there is the Duke University, and it is getting more attractive for tourists as well. All of these improvements are leading to higher investments in the infrastructure and new businesses, which will make it even more interesting from people to start living there. Therefore, now might be the best moment for buying a property in Durham.
Burlington
If you are looking for a more affordable place where you can buy a house, this might be the best option since the average price is only around $270,000. Also, there is an excellent mortgage-to-rent ratio. The average rent is slightly over $800 per month, while the monthly installment for a mortgage is $1,200. The level of appreciation is also on a decent level with nearly 30%.
We can notice a steady growth of population of over 6% per year. Also, it is expected that there will be more than 15% increase in population in the central area of this city. All of these indicators are showing us that this city is perfect for those interested in buying and then reselling the house for a higher value after some time.
Winston-Salem
This is also a cheap area for investing in property with an average value of a house that is under $250,000. There are two big universities nearby, and more than 10,000 students living in this place. That represents a great option for those interested in renting.
The population is growing rapidly, and there was an increase of 10% in the last 10 years. The great thing is that even though there is a rise in population of this place, the prices are not growing like in some other states.
Last Words
The crucial part before investing in real estate is to learn more about various factors and never rush with your decision. If you don’t have any experience, the best solution is to hire a good real estate agent that will help you find the right type of real estate for your preferences.
