Real estate is the land and buildings, and the real estate business involves buying, selling, and renting the properties. Thinking of buying a property can seem an overwhelming task if you are new in the field. Whether you want to buy a house for personal use, sell an office building or purchase a plot at your choice, it is preferable to consult a real estate broker or read a real estate guide before making the final decision. Many cities in the world are measured concerning their real estate market growth and stability. Atlanta is one of the booming cities in the market of real estate. Real estate investments Atlanta are increasing day by day without any apparent downward trend.
Atlanta is the capital of Georgia state in the United States. It was founded back in 1837 as a major center for transportation. According to a leading journal Forbes, Atlanta is the best place for investing in real estate business and property. The Real estate expert and CEO of Local Markets gathered data and analyzed it, eliminating the markets performing worse on selected criteria. The Atlanta market stood 7th in the list in the following standards as per the famous website Atlanta patch:
The average price of the house: $234,249
Increase in house price per year: 8%
Population growth per 3 years: 4.9%
Job growth per 2 years: 5.1%
GDP in 2010-2016: 364 billion dollar
Hundreds of houses in Atlanta are tagged for sale at an average price of around $400000. These houses are like hot cakes having the prospects of getting sold quickly. Atlanta’s population is more than 0.4 million people. The famous neighboring places of Atlanta are Westview, Virginia Highland, Atlantic station, Sherwood Forest, and Midtown.
Real estate is not an accessible business, so one needs to prepare well before taking a business. We need to look at its types and various factors while diving in the real estate world in the hope of success.
Lands: Lands include the area uninhabited by human beings, and it is a source of passive income for landowners. It also contains farms, fields, and undeveloped areas.
Residential: This type of real estate includes houses and buildings for personal living purposes. It includes both newly constructed houses, farmhouses, condominiums, townhouses, and old homes.
Commercial: In commercial real estate, one deals with the buying and selling land and buildings for business. It includes shopping malls, educational institutes, flats, offices, hospitals, and plazas.
Industrial: The real estate comprising of industrial units, manufacturing plants, huge storehouses used for manufacturing, distribution, and storage.
There are three major reasons to consider before getting into the business of the real estate.
Cash influx: Real estate business has more potential of returning the cash as compared to other investments like stocks and bonds. The reason is you can rent your property and receive the rent later without doing anything.
Appreciation: Most of the assets tend to depreciate with time, but the land has the potential of a continuous rise in the value. Though fluctuations occur in the number of lands and buildings but investing and selling in the market at the right time is the key to success. Overall, real estate assets tend to rise in value in the longer-term.
Tax advantage: The government provides tax privileges to the real estate holders. It is better to consult with the tax consultant in your area or municipality office to know about the tax information.
Here are the ten reasons to invest in Atlanta rental properties:
Transportation hub: The origin of Atlanta was on the railway lines; hence it was a transportation center from the very start, and now its transportation has fully developed.
The city is a forest: Atlanta is located near the famous Appalachian mountain and comprises dense forests due to which it is also known as ‘the city in a forest.’
Climate: The climate of Atlanta has all four seasons, and this is the cause of attraction for the people as well. The luxury of enjoying all seasons gives it an edge over its counterpart, cold cities.
Tourist attraction: The downtown area of Atlanta is the tourist attraction due to its sports-related opportunities and clubs.
Air transportation: Atlanta has the world’s busiest airport named as Hartsfield–Jackson Atlanta International Airport.
GDP (Gross Domestic Product): According to Statista company stats, the GDP of the Atlanta city reached 364 billion in U.S. dollar from 2010 to the year 2016. The metropolitan area of Atlanta is the most populous area in the whole U.S.
Job opportunities: Transportation and industrial advancement have increased job opportunities. A vast number of transportation employees are looking for homes on rent for staying.
Corporate hub: Atlanta is a center of top Fortune 500 companies in the world. The Coca-Cola Company, Delta Air Lines, Inc., and Mohawk Industries, Inc, have headquarters in Atlanta.
Home prices: Average home price in Atlanta is higher as compared to the other cities of the USA due to industrial advancement and transportation efficiency.
Price increase predictability: The increase in the price of the house per year is fairly high, increasing the chances of passive accumulation of potential wealth.
After knowing all of the above factors, you must have dreamt of having your own property in the most growing and busiest city in the world, Atlanta.