Real estate can be a tricky business. The housing market is constantly fluctuating meaning real estate investors could potentially face hefty losses if they aren’t careful about choosing their investment properties. We’ve all heard the phrase “location, location, location” when it comes to real estate and that is the most important factor when looking for investment properties. A location that doesn’t draw much attention can make it difficult to move investment properties when it’s time to sell or rent them out. One of the top places for real estate investment is Charlotte and there are several reasons why Charlotte is a great market for real estate investing.
While most of the country’s real estate markets are on a decline, Charlotte is avoiding the trend. Demand has routinely been higher than supply when it comes to real estate in Charlotte. The growing population of Charlotte is certainly a perk for real estate investors. As one of the fastest growing metros in the United States, Charlotte sees around 100,000 new residents every year! Charlotte offers a low cost of living compared to many other parts of the country as well as an ever-expanding list of job opportunities. Future projections for Charlotte only add to the reasons why Charlotte is a great market for real estate investing. By 2025, Charlotte is expected to be home to 14 Fortune 500 companies. In 2017, Charlotte was ranked 3rd best real estate market and it has only been improving since then. People need homes when they move, and it looks like Charlotte is going to continue growing at an increasing rate.
Many landlords may worry about the eviction process should they ever need to use it, or late rent payments affecting their investment properties. Charlotte is based in one of the most landlord friendly states, so you can rest assured the state has your back if necessary. There are no rent regulations and no rent control, so you have more say over your property. There are also laws in Charlotte to ensure a smooth process for eviction if you ever need to evict a tenant.
While some parts of the country are experiencing a serious decline in home values, Charlotte is not following the trend. The average home value is around $225,000 and those numbers are only trending upward. Charlotte has seen an increase of over 8% this year alone, with numbers expected to increase even further next year with a projected 6% increase. Rent prices average over $1,000 and much like the overall home values, they are expected to rise next year. This is a good indication your investment property will retain its value for years to come.
Real estate investing can be a tricky business if you’re not careful where you invest or what you invest in. Investing in property in a city that’s growing and thriving will help ensure you make back what you spend investing and then some. This is where Charlotte comes in. There are many reasons why Charlotte is a great market for real estate investing, the top one being the growing population. People are constantly moving to Charlotte due to the lower cost of living and job availability, so there will always be someone looking to rent or buy. Landlord protection is another reason why Charlotte is great for real estate investing. The state works with landlords to protect them from bad tenants and even has laws in place to help with a smooth eviction process if needed. If you are interested in learning more, speak with one of our investment consultants today!