The Truth About Buying And Renting Homes In Raleigh NC

truth buying renting homes raleigh nc real estate north carolina property

The capital city of North Carolina, Raleigh, has been on many top 10 lists in the USA. Including being one of the fastest-growing job market cities in the United States. Also known as the City of Oaks, the city is most well-known for being part of the tri-city that includes Raleigh, Chapel Hill, and Durham. 

Oak trees are scattered all over the city streets, giving the city a natural atmosphere that’s cozy and suburban. Because of its great job opportunities, safe city life, abundance in universities and high-quality education, many have considered moving to the city. 

Many property investors, even if they don’t want to relocate to the city of Oaks, have considered investing in real estate properties. But what does the real estate industry look like in the city? What is the truth? 

Should I Invest In A Raleigh Property?

The simplest answer to this question is ‘yes’. When you look at HPW real estate in Raleigh, you’ll notice that there are only a few options to choose from. Ranging in price and location. 

According to 2019 statistics, the City of Oaks has become one of the top real estate markets in the U.S. Investing in a property in the fast-growing tech hub, will be to great benefit to you in the future. 

As a matter of fact, the supply and demand level of properties for people living in the city has become so high, that property developers aren’t keeping up. Even though there are a number of affordable homes available, the real need is in creating more homes for those relocating to the city. 

Investors that are jumping at the opportunity will be able to build homes, apartments and rent them out for a profit. Alternatively, investors are looking for homes to buy, spruce up a little bit and then sell for a handsome profit too. 

There is no scarcity of jobs in the city, new employees are flooding into the city with their families. Therefore, the supply and demand level are creating a wealthy real estate opportunity for investors. 

Most homes are on the market for an average of only 3 months. This gives an indication of how popular homes in the city is. 

What Are My Options?

Raleigh offers an array of options at different price ranges. You can choose between townhouses, condos, mobile homes, foreclosures, and luxurious mansions situated on the outskirts of the city. With the city being one of the first areas to have a regulated city layout, it follows a grid pattern. Most homes are in average 19 years old and in really great condition. 

Click here to read about a home that overcame historic preservation. 

The minimum buying price of a home starts at $90,000 and can go up to as much as $9,8 million. With the average price of a decent home being $510,454. An important aspect to consider is the size of the home, most Raleigh homes are on average 2,620 square foot in size. If you want to rent a property, you’ll pay an average monthly fee of $1,223 for an average sized apartment at 957 square foot. 

Review From A Citizen

The truth can only be found in the mouth of a real citizen. Most citizens only have great things to say about the City of Oaks. There are loads of trees amongst the concrete buildings and a great relaxed vibe. It has been reported that the city isn’t as busy as you’d thought with the number of tech companies situated there. 

Citizens can take their dogs for walks in the nearby parks and enjoy a suburban lifestyle in neighborhood areas. Read a review on why Raleigh is one of the best places to live in here: https://realestate.usnews.com/places/north-carolina/raleigh-durham 

No matter where you rent or buy a property, you’ll be able to benefit from the city’s delicious cuisine and abundance in restaurants. As well as the shopping centers, high-quality educational centers, and ongoing entertainment. 

The population is mostly families and young professionals who enjoy creating a safe and welcoming environment for their fellow citizens. 

The truth about renting or buying homes in the City of Oaks, is that it is a really great idea. Not only for a relocating family, but also for a property developer and investor in North Carolina.

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