North Carolina is one of the best places for real estate investors. It offers a wide range of housing options, including large family homes, townhouses, and apartment blocks.
Whether you’re keen on buying in a popular city, like Raleigh Durham and Winston-Salem, or a more peaceful, rural area, you won’t be disappointed with everything that North Carolina has to offer. There’s something for everybody, from lively cities to stunning coastlines.
Every year, new properties become available to buyers. If you’re just starting a career in real estate investment, get your foot in the door and buy your very first property in North Carolina.
For those of you who already own properties elsewhere in the States, it’s worth investing in North Carolina real estate to expand and diversify your portfolio. As the population and economic growth of the area increase, there’s no better time than now to buy your first (or second or third) property in North Carolina.
If you’re not yet convinced, here are some of the top reasons to invest in real estate in North Carolina.
Lots of Renters in the Area
Compared to other areas of the United States, North Carolina has a high renter population. There are always single people, couples, and families searching for a new home to rent out, so you’re not going to struggle to find great tenants for your rental properties.
For the locals or expats in North Carolina, renting a property often works out cheaper than buying a home so there is an increasing demand for rental properties.
Expanding and Thriving Economy
Despite the knockbacks of the COVID-19 pandemic, the economy in North Carolina is booming. The area has managed to pull itself back from the financial struggles of the last few years and is now seeing immense growth.
With this economic growth, more people are moving the North Carolina for work or a better life, and property appreciation is significant. As a real estate investor, you will be able to earn a great income through your rental properties in North Carolina.
Increasing Occupancy Rate
Because there is a constant influx of new people moving to North Carolina, property occupancy rates are high. As soon as somebody moves out of their rental property, somebody else moves in. When a homeowner puts their property on the market, it sells almost instantly.
The occupancy rate in North Carolina is around 97%, which is as high, if not higher, than occupancy rates in any other area of America. When you’re renting out multiple properties, knowing that you can easily get new tenants can put your mind at ease. You can rest assured knowing that you will have a continuous stream of income, despite tenant turnover.
Low Mortgages Rates
North Carolina has relatively low mortgage interest rates, making it perfect for real estate investors who are buying multiple properties. You can minimize your costs and debts while maximizing your income by taking advantage of the low mortgage rates in the area.