If you wish to grow your investment portfolio this year, you have come to the right place!
Every year real estate movements change in the blink of an eye. Many factors alter property trends, from locations to demographics and the economy to subsidies.
Since 2020 Atlanta has seen a population influx of 4.73%. As of 2023, the city is now home to 522,328 residents.
From the outside, Atlanta real estate seems like a hotspot for investing your money. But let's dive deeper into the topic by reading our quick guide to a 2023 investment.
1. Affordable Cost of Living
Experts named Atlanta as the best place to buy a home in 2023. The most significant reason for the conclusion is the affordable cost of living.
Several world events spilling over the past few years have affected the cost of living. The invasion of Ukraine, COVID restrictions, and climate change are some issues resulting in inflation costs.
According to the cost of living index, Georgia is the fifth cheapest state in the United States. It scores notably high in utilities, transport, and groceries.
The affordable cost of living makes it an attractive place for tenants.
2. Low Vacancy Rate
The biggest concern for a landlord is a vacant property throughout the year. The city is in high demand for buyers and renters. So it's experiencing almost all-time low vacancy rates.
There is such a low rate that officials now consider there to be a shortage of homes in the area.
The increase in population is the crucial reason homes are so in need this year. Thus if you invest in real estate here, you don't have to search for a tenant.
3. Atlanta Tax Benefits
Tax benefits should be music to your ears if you want to start real estate investing this year. It helps keep your well-earned cash where it belongs, in your pocket.
You can take advantage of a couple of tax benefits in Atlanta. However, the low property tax rate is arguably the most significant.
In most cities, property tax is calculated based on the entire home's fair market value. In Atlanta, it only costs you 40% of the FMV.
There are also tax exemptions if you invest in historical Atlanta real estate.
4. Robust Economy
When the economy is robust, people are more likely to spend money or relocate to their dream homes. It offers security and stability. So people don't have to worry about losing their cash on investment.
Not only is a strong economy good for tenants and those looking to relocate, but also for landlords.
When the economy is booming, people have more money, and there is more competition for homes. At this point, you can increase the cost of your property.
5. Rapid Growth in Population
Due to the low cost of living, robust economy, and job opportunities, the population is growing. The capital city of Georgia may have over half a million inhabitants today. Nevertheless, experts predict the number will rise by around 38.7% by 2030!
Hundreds of people move to Atlanta every month. And each person needs to look for a place to call home.
Invest in Atlanta Real Estate Today
Investing in Atlanta Real Estate will generate significant income for your investment portfolio.
Unfortunately, you are not the only one hoping to take advantage of this opportunity. Countless landlords want the same as you.
So don't hesitate and contact us today. Snap up a bargain before someone else gets there first!
