Why Is Charlotte Housing So Expensive?
Charlotte ranks as the best real estate market in the Southeastern United States. According to the reports, this real-estate market will experience a combined growth rate of 19%, considering the growth of new home building and sales growth.
Charlotte is the most populated city in North Carolina. Not only that, it is one of the fastest-growing metro areas in the United States. The Charlotte metro area is the second-largest financial center in the United States. It is also home to professional sports teams.
Its quality of life and diverse economy means its housing market can be very expensive.
Is Investing in Charlotte NC Homes for Sale a Good Idea?
To understand if a certain market is a good real estate investment, you have to study it first. Various factors make the Charlotte housing market a smart move.
Population Growth: Charlotte is one of the fastest-growing areas in the country. It is also the largest metropolitan area between Washington D.C. and Atlanta. It sees an increase in population by about 100,000 people every year. Increasing job opportunities and low cost of living are attracting people to Charlotte from all around the country. Economic stability plays a major role in the success of this real-estate market. So, as long as people enjoy living in this city, it will continue to have a good real estate market.
Home Values: According to Zillow, the median home value in the Charlotte housing market is $225,000. Its home values have increased by 8.6%. Moreover, it is expected to increase by another 6.1% within the next year. If you invest in a Charlotte property, it will maintain its value.
Landlord Friendly: In case you are a real estate investor who is taking on the role of a landlord, you will be pleased to know that Charlotte is in a landlord-friendly state. There is no rent regulation or rent control in North Carolina. In fact, there are laws in place to ensure a smoother eviction process if required. You don’t have to worry about late rent or bad tenants as the state has got your back.
What to Consider Before Buying a Charlotte NC Condo for Sale
Condos are typically more affordable than the houses available. If you have decided to buy a condo in Charlotte, there are a few things that you need to take into account.
Location: One of the most important to invest in real estate is to consider the location. You might keep the condo forever. So, consider the long-term value. Check if there are developments that will increase the property value. Also, take the view into consideration.
Amenities: These are the extras that people love so much. Examples of amenities are a party room, gym, concierge, and visitor parking. Make sure you take the building amenities into account. Decide if they are useful to you, or could be appealing to others. Usually, the more the amenities, the higher the condo’s price.
Condo Rules: Living in a condo doesn’t come with the same freedom as living in a house. There are often regulations and restrictions which residents must follow. One of the common restrictions is on pet ownership. You also might not be permitted to renovate the interior without permission. Find out about these rules before investing in a condo unit.
Size: Remember, when you are buying a condo, size is important. Check the square footage and find out if the furniture you have will fit in the condo. It is particularly important to find out size if you are buying a pre-construction condo.
Why Should You Buy Luxury Homes for Sale in Charlotte NC?
All real estate agents will tell you that buying a luxury home comes with its own benefits. The value of the community and home is already established, the homes have bigger lots and more character, and most appliances are included in the sale.
Other benefits include:
If you plan to sell, you can expect to get a better return on your investment. The sales process is subject to market conditions and the state of the house, of course, but a good return on investment is almost certain.
High-end neighborhoods, communities, and condominiums generally include extras that you will not find in an average neighborhood. These neighborhoods often have home associations, which include things like If a community pool and lawn maintenance.. Also, the home itself might have some unique characteristics that make it special.
Which Neighborhoods to Consider When Buying Charlotte North Carolina Homes for Sale?
When you are purchasing a North Carolina home for sale in the Charlotte area, the neighborhoods that you can consider are:
South Park, close to Billy Graham Library.
Myers Park, one of the most prestigious neighborhoods
Ballantyne East, Charlotte’s newest upscale communities
Mattews, the most popular suburban town
Huntersville, the location that sits on the shore of Lake Norman
Dilworth, the oldest “streetcar suburb” in Charlotte
Why Have Charlotte NC Investment Properties been Unaffected by the 2020 Health Crisis?
There has been a pent-up demand for homes from the real estate market being shut down for so long. People want to begin new lifestyles. About 40% of the population will not be going t back to a standard office setting. This changes how and where people want to live.
Charlotte is seeing an influx of home buyers from East Coast and California. It is also seeing buyers from states like Connecticut, New Jersey, and New York. Buyers are relocating from crowded cities. Recently, people have been moving into Charlotte for better employment. Within the region, people are moving from multi-family units to single-family homes.. Pets are another reason people are moving to Charlotte.. Everyone is looking for more space!
How to Find the Top Real Estate Agent in Charlotte NC?
Showcase Realty is one of the best real estate brokerages in Charlotte, North Carolina. We deliver professional service personally. Showcase Realty is the brainchild of Nancy Braun. She has called North Carolina home ever since moving here over two decades ago. Nancy worked as a real estate agent for 12 years in a firm before she decided to start one of her own. Working in this industry for years, Nancy Braun is the best real estate agent in Charlotte NC.
She has successfully built Showcase Realty, the award-winning business that helps clients buy and sell real estate in North and South Carolina. Showcase uses the best marketing technologies and strategies to provide clients cutting-edge results. At, Showcase Realty, we assure you, top return on their investment.
So, if you are buying or selling a house in Charlotte and don’t know how to go about it, get in touch with Nancy Braun. She and her agents have sold more than 40x homes than an average agent. With Showcase Realty’s proven track record, your home will be sold and at a great price too!