Looking For An Ideal Place To Own Your First Property? Reasons to Invest In the Atlanta Real Estate Market
Real estate investing is one of the booming businesses in the U.S. if you have adequate capital to develop or acquire properties. However, it is worth noting that real estate markets in the U.S. have recovered at different rates since the real estate crash that affected the country several years ago. There are places in the U.S where real estate markets have fully recovered and some areas where real estate markets are still struggling to catch up with the rest of the country. It is important to do some research before buying your first real estate property so that you can take advantage of U.S. real estate markets that are doing very well. Here are some basic reasons why investing in the Atlanta real estate market is a wise decision.
Atlanta has a low cost of living
The cost of living is relatively low in Atlanta and many people are relocating to work and live there. Atlanta is actually ranked fourth nationally based on the cost of living and housing affordability. According to Rent Appeal there is high demand for housing in Atlanta and getting renters to occupy your real estate property is not a problem.
Steady and slow market growth, making real estate affordable
Atlanta is among the few places that have experienced slow and steady growth of the real estate market since the 2008 real estate market crash. If you are an aspiring real estate investor, it is possible to get good properties in Atlanta at very pocket-friendly prices. The good thing is that you are sure that your investment will continue to appreciate as you enjoy your rental income. You are sure to make good profits even if you decide to sell your Atlanta real estate property in the future.
Atlanta is experiencing rapid economic and population growth
Low cost of living has caused many people to relocate to Atlanta causing the population to grow rapidly. Additionally, the economy of Atlanta is doing very well and there is adequate access to job opportunities for Millennials looking for a place where they can live and work.
High number of universities and colleges
It is worth noting that over 30 institutions of higher learning are located in Atlanta. Therefore, if you are planning to invest in real estate and target student tenants, Atlanta real estate market should be your ideal place to acquire your next rental property. Most of the higher learning institutions located in Atlanta do not offer student accommodation, hence the demand for rental houses is very high, especially near colleges and universities.
Low mortgage interest rates
Mortgage interest rates have been very low in Atlanta for many years, even before the 2008 real estate crash that affected the country. If you are a real estate investor planning to acquire your first property on loan, Atlanta is the first place you need to consider. Here you enjoy low mortgage interest rates and it is easy for investors to maximize their cash flow and pay off the mortgage within a very short period.
Atlanta is a center for corporate businesses
Atlanta is a business city and a home to many corporate multinationals such as Coca-Cola, Delta Airlines, and the United Parcel Service among others. Whether you are planning to invest in commercial or residential properties, there is no doubt that you will get renters to occupy your properties. There is high demand for business stalls and residential houses, making Atlanta one of the most suitable places to acquire rental properties.
Very few restrictions and paperwork is required
Atlanta is one of the major cities in the U.S. where real estate is not highly restricted. Whether you want to buy an existing property or build a new one, there are very few restrictions and minimal paperwork is required. It takes a very short time to complete buying a property or to have your documents approved so that you can start developing your real estate properties. For example, I purchased a property in Marietta GA and within two weeks all my documents were approved. This is great for getting your investment started right away.
Good security and political stability
Atlanta is one of the largest cities in the USA where you will get people from all corners of the country and even foreigners. Thousands of people move to Atlanta every year to look for greener pastures and affordable housing. Consequently, the state and local authorities are committed to make sure there is good security and political stability in Atlanta. Aspiring real estate investors have nothing to worry about when it comes to the security of their properties in Atlanta.