November 2

Pros and Cons of Buying Homes for Sale in Charlotte NC

Are you considering buying a house in Charlotte, North Carolina? Charlotte is the most populous city in NC, and its population is growing at an incredible pace. 

An advantage of buying homes for sale in Charlotte, NC is its promising economic, social, commercial, cultural, and artistic growth opportunities. But not many people are confident with investing in or buying a home in Charlotte, NC because it is a relatively new city. 

Amid the housing shortage, properties in Charlotte are also at an all-time high. So, is buying a home in Charlotte, NC worth it? Let’s explore the pros and cons of investing in Charlotte, North Carolina homes for sale.

Pros of Homes for Sale in Charlotte

Is It Worth Moving to North Carolina?

It is worth moving to North Carolina as it is one of the top destinations for families, retirees, and young professionals. With a thriving job market and a booming economy, NC is now the ninth most populous state in the US, with 10 million residents.

North Carolina offers one of the most affordable housing markets in the US.

In fact, it’s almost 4% cheaper than the national average. North Carolina has also stopped taxing social security income. 

Taxes are also generally low in North Carolina.

The state is divided into three geographic regions:

  • In the east, you’ll find a beautiful coastal region. Here you’ll find the beautiful Outer Banks, which is a popular tourist destination.
  • The Piedmont region is in the center of NC, with charming historic towns, including Charlotte, Hillsborough, and Pinehurst.
  • You will find the Blue Ridge Mountains dotted with Mount Mitchell and the Great Smoky Mountains National Park in the West.

Among North Carolina, Charlotte is the best and one of the most popular destinations in the US.


Is Charlotte, NC a Good Place to Live?

Living in Charlotte allows residents to enjoy a suburban-urban lifestyle. There are lots of growth opportunities for families, millennials, and seniors.

However, Charlotte homes are more expensive than the rest of North Carolina.

Let’s take a look at the pros and cons of buying a home for sale in Charlotte, North Carolina:

Pros of Homes for Sale in Charlotte

Pros of Living in Charlotte, North Carolina

1. Fast-Growing City

Aside from being the largest city in North Carolina, Charlotte is also the third fastest-growing city in the nation.

The area is expected to grow by 50% by 2030.

The fastest growing and populated cities were found to benefit residents in several categories:

  • Employment and income
  • Education
  • Recreation
  • Arts
  • Recreation
  • Transportation

Growth also results in creating diversity and giving residents more leisure and lifestyle choices.

2. Affordable Cost of Living

Housing expenses in Charlotte, NC are 14% lower than the national average. Residents also enjoy 8% lower living expenses.

Charlotte, NC investment properties and homes for sale are economical because the land is more affordable than the national average. Land and building materials are much more affordable since the area is not as developed as the bigger metro areas.

Food and groceries are also 6% lower than the national average.

If you’re wondering about transportation expenses, bus fares and gas prices are 3% lower than the national average.

3. Employment Opportunities

One of the best things about living in Charlotte is its bustling economic and financial climate. Residents looking for a new job will find a strong job market expected to grow stronger in the next ten years.

Job growth is expected to reach 45%, compared to the national average of 33.5%.

Unemployment is also 1.1% lower than the national average of 6%. 

In North Carolina, residents in these industries will find great work opportunities in:

  • Business and financial services
  • Energy
  • Aerospace and defense 
  • Biotechnology and pharmaceuticals 
  • Automotive, truck, and heavy machinery
  • Furniture
  • Plastics and chemicals
  • Tourism

The top industries in Charlotte, NC are:

  • Financial services
  • Manufacturing
  • Agriculture

Low cost of living and corporate taxes makes North Carolina ideal for corporate headquarters.

Cons of Charlotte, NC Homes for Sale

4. Big Investment Opportunities

Considering Charlotte’s increasing house prices, rising population, and solid job market, investors see the potential of Charlotte as a booming renter’s market.

Millennials are steadily pouring into the city, and they are becoming the biggest market for rental properties.

With the increasing house prices, investors can rake in huge sums by owning investment properties.

Charlotte, NC Real Estate

Cons of Living in Charlotte, North Carolina

1. Food Insecurity

While groceries and other necessities are more affordable in North Carolina, it ranks as the 10th hungriest state in the US.

More than 1,417,440 people in North Carolina face hunger, and more than a third of those are children.

In Charlotte, NC, more than 15% of households are considered food insecure.

The situation worsened in 2020 during the COVID-19 pandemic. More than 100,000 residents relied on food pantries to get by.

2. Crime Rates

On average, the most populated and fastest-growing metros also score lower on indicators for crime and cost of living. 

Charlotte has a crime rate of 42 per one thousand residents. This implies that Charlotte has one of the highest crime rates in the nation compared to communities of all sizes.

There is a 245 chance that a Charlotte resident will be a victim of a property or violent crime.

3. Seller’s Market

Even amid the COVID-19 pandemic, the demand for houses in NC is still high in demand.

Charlotte, NC homes for sale are usually sold 1.85% above the asking price. This indicates that Charlotte is still a seller’s market.

Though new listings are down by almost 7% year-to-year, it is not likely that the Charlotte real estate market will drop.

Charlotte, NC Homes for Sale

What are the Top Neighborhoods in Charlotte, NC?

If you’re considering a move to Charlotte in North Carolina, consider getting a house or investment property in: 

  • Ballantyne
  • Dilworth
  • Elizabeth
  • Plaza-Midwood
  • Southpark
  • South End
  • University City
  • Uptown

How Do I Buy a House in Charlotte, NC?

The first step to living in your new home in Charlotte is to contact a trusted and licensed realtor. The best real estate agent in Charlotte, NC is Nancy Braun of Showcase Realty. 

Nancy Braun and her team have sold over 1,000 properties in Charlotte since 2008. They guarantee to sell all homes three times faster and offer 30,000 more savings than other agents.

If you’re buying a home, Showcase Realty offers a generous 12-month guarantee.


Final Thoughts

Nancy Braun and her team make sure to help you find the Charlotte, NC home of your dreams. Their winning team is founded on the principles of “innovation, teamwork, and community mindfulness.”

Their professionalism and passion for real estate really shine through!

If you’re still unsure about buying a home in Charlotte, North Carolina, get in touch with Showcase Realty.

Call Nancy Braun today at 704-997-3794.


Tags

Charlotte NC homes for sale, Charlotte Real Estate, showcase realty


You may also like

9 Best Kept Secrets That’ll Help You Save Money When Buying Charlotte, NC Home

9 Best Kept Secrets That’ll Help You Save Money When Buying Charlotte, NC Home

25 Smart Questions to Ask Before Investing in Charlotte, NC HUD

25 Smart Questions to Ask Before Investing in Charlotte, NC HUD
{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}