Home prices are skyrocketing across the country, rising as much as 22 percent in some cases. Many times, homes are being sold at tens of thousands over the asking price.
This can be stressful news to first-time home buyers. How can they compete in a booming real estate market where houses are selling for so much more than they were even a few years ago?
There is some good news though for these first-time homebuyers or even those who are ready to move.
Houses in Tennessee are some of the cheapest in the nation while still being high-quality and in booming cities.
Here is a quick guide on everything you need to know about why are houses so cheap in Tennessee.
Why Are Houses So Cheap in Tennessee?
So, why are houses in Tennessee so cheap? Thanks to a low cost of living and favourable tax rates, including no state income tax and low property taxes, it is very cheap to live in the state
There is also a large inventory. Thanks to plentiful land, housing developments are able to be built and developed much more often than in cities like New York City or Los Angeles where space is limited.
Why Should You Move to Tennessee?
There are plenty of reasons to move to Tennessee. They have a thriving economy, with several major companies relocating to the state each month. Tennessee is home to the music capital of the world in their capital city of Nashville.
Median home prices are some of the lowest in the country. The average home sold for less than $350K in the last year.
Where is the Best Place in Tennessee to Buy Real Estate?
If you are thinking about moving to Tennessee to capitalize on living in a great state with a low cost of living, congratulations! You are going to love it there.
But there are lots of different cities in Tennessee. Which one should you consider moving to and buying a home in?
Memphis is a fantastic city to buy a home. It is home to thriving tourist attractions like the Blues Hall of Fame and Beale Street as well as sports teams and awesome BBQ. Check out why it is quickly becoming one of the hottest places to buy and invest in real estate in 2021.
Want to Know More About the Available Homes in Tennessee?
Why are houses so cheap in some places and more expensive in others? A rapidly changing real estate market is to blame, but you can use it to your advantage if you are looking to grow your real estate investment portfolio.
If you are looking for more real estate tips and want to learn more about the homes in Tennessee, be sure to follow along. There are new articles posted all the time about everything from knowing when to buy when to sell, and what markets are the best for your housing needs.