Real Estate in Virginia: Where should You Invest?
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Looking to invest in real estate in Virginia and have a modest budget? Of late, in most cities in Virginia, it has been a seller’s market rather than the buyer’s. With some diligent research, it would still be possible to find affordable properties in Virginia.
Here’s a low-down of the most affordable places to invest in Virginia this year.
As far as the current trend goes, the supply has not caught up with the demand for houses in Virginia. The key is to make quick decisions when you do come across your coveted property. In most coveted places such as Fairfax and Arlington, the average price per square feet ranges between $350 to $440.
Affordable options in Virginia
Roanoke: Situated in SouthWest Virginia, Roanoke is popular not only as a cultural hub but also offers modest real estate options for the budget conscious. Median sales prices are pegged at $100 per square feet. Although there has been a slight increase as compared to the median sales price in the previous year, it is still affordable when compared to other cities.
Norfolk: With a median price of $131 per square feet, Norfolk is also a buyer’s market as per the 2016 estimates.
Suffolk: This city has seen a 3% increase in real estate costs as compared to 2015. The median price per square feet is estimated to be $108.
Prince William county: The real estate market has seen an increase in new constructions in the year 2016 in Prince William county. Affordable real estate options are available, with the average price per square feet being $186.
Stafford: With most military facilities situated in Stafford, new constructions are on an upswing in this county as well. The median per square rate is $164 which is a 6 % increase from previous year, but still very affordable.
Invest wisely, and you would be able to reap the benefits in the future.
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