Is buying a home in Chattanooga a good investment for Millennials?
The past two years have been years of rapid maturity in Chattanooga in the real estate market. Take a drive through North Shore, across the Market Street Bridge, through downtown, into the Southside, down Main Street and into Highland Park and you will see some form of construction around most every turn. As our market is only going to continue booming, now is the time to get in on the action. Millennials: While taking on a year lease at the newest apartment complex makes sense for some; you might reconsider the benefits of making your first real estate purchase now instead of later. If you live here, you are already one step in the right direction. If you don’t live here, you probably should.
Here are three reasons to get in on the fun:
- Chattanooga is nationally recognized again and again for being a well-rounded outdoor town and “The Best Town Ever” according to Outside Magazine, a great place for young professionals to engage, and heck- we even have the fastest Internet. People are attracted to this place, and when making decisions as to where they want to plug in, we end up with another new face that you might encounter the next time you walk into Bluegrass Grill or attend a CFC game. Chattanooga is active and growing.
- Our Local Real Estate Market is up. And ready to go up some more. According to the GCAR at the start of 2016, average sale price was up 8.4%, and closed sales had increased by 11.4%. We are up again with transactions thus far this year. Purchase in a market where you property is appreciating. Chattanooga is worth the buy.
- The city is big enough to always have something new to see or do, but small enough to see familiar faces each time you meander into the Camp House for a cup of coffee. There is always a great hike on Lookout or Signal Mountain, a bike to snag for a ride, diverse and delicious dining, art out the wazoo, niche venues for concerts and parties, and as our friends at The Lamp Post Group pointed out, you get all this for a low cost of living. Engage the art, dining, outdoors, and unique people who ultimately make this place what it is. Chattanooga is a special community.
Trying to find a home?
Todd Henon Properties transactions thus far this year have been made up 30% by Millennials. More than half of our team is made up of “under 30’s”. We would love to help you in the home buying or selling process. Here is a link to homes for sale divided up by “neighborhood”. Let us know if you have any questions at 423.413.4507.
Written by: Brandt McGregor