Why Raleigh is a Great Place
For Buying a Home or Investment Property
In case you hadn’t heard, Raleigh has been getting all sorts of accolades as a top area in the country to live. It’s sort of the perfect storm of desirable areas. While supply is still catching up with demand, home prices (and property taxes) are still affordable. There’s a great job market, with all sorts of tech companies eyeing the city as a potential place to do business (Amazon, anyone?). The crime rates and traffic are still relatively low, and the quality of life is high.
But what features, exactly, does Raleigh offer that people are generally raving about?
It’s true that traffic in Raleigh has seen a big increase over the years, but in reality, it’s nothing in comparison to other major cities in the country. And fortunately, there are major infrastructure improvements underway. The reconstruction of one section of the main beltline around the city is just wrapping up, and another problematic section is slated for widening starting in early 2019. The other major loop (I-540) around the outer section of the region is nearing final approvals for completion after being held up for several years. And routes extending from the city center to the suburbs are the target of upgrades to keep traffic flowing more freely.
No, there’s not a well-developed public transit system currently in place, but that doesn’t mean the powers that be aren’t working on it. Several cohesive groups, including GoTriangle, and the Triangle Transit Authority have been imagining ways to bring better transit between Raleigh, Durham, and the surrounding communities that may eventually reduce the number of cars on the road.
Additionally, Raleigh has an international airport that’s easily accessible and which offers non-stop flights to London and Paris, with talk of additional non-stop flights to China in the coming years.
Outdoor Living – Greenways, Parks, and More
We think probably one of the most impressive things Raleigh has to offer in the way of quality of life is the attention given to outdoor recreation. The Capital Area Greenway system has built a system of safe, well-maintained greenways that encircle the entire city, connect public parks, and allow for bike and pedestrian transit in attractive natural settings off the main roads. In addition, the area caters to the fitness crowd, with plenty of 5k, half and full marathon, and even triathlon races each year. A mild climate makes outdoor exercise possible year-round, and that includes golf, with many courses open even in January.
Historically Low Unemployment and a Top Ranked Best Place to Work
Raleigh and the surrounding towns have enjoyed great job opportunity. RTP is a top tech hub in the country and home to a host of global employers like BASF and IBM. In recent years alone, it’s been voted #2 on Forbes list for Business and Careers and is number one out of ten cities that’s primed for economic growth and opportunity according to cardrates.com. Additionally, the unemployment rate is below, and income range is higher, than the national average.
Raleigh is an incredibly family-oriented town. In addition to tons of government-sponsored programming both in the city of Raleigh and surrounding towns, there are also museums, parks, and public pools galore. You don’t have to look very hard to find a robust offering of sports programs like soccer, tennis, softball, baseball, and even ice hockey leagues catering to kids of all ages. And public education is robust, with good public schools and plenty of magnet, charter, and private school options.
Affordable Housing and Property Taxes
One of the reasons so many people are flocking to the Raleigh area is the housing affordability factor. The average home price in the Raleigh area sits at about $265,000. Property tax rates are relatively low at 0.86 percent, which is below the national average.
But keep in mind, the real estate market has been heating up. The area is ranked number two on Zillow’s list of hottest housing markets, and in the last year, the demand has been pretty high for available homes. This will likely sort itself out – it’s largely the product of low inventory spilling over from the housing bubble in 2008 that kept builders cautious for a few years.
If you’ve been eyeing a relocation to the Raleigh area, or you’re an existing resident looking to upgrade, now is a great time to look and Oak City Properties can help. We’re old pros in the marketplace and can guide you to the perfect community for your lifestage. Give us a call to talk further about all of the great attributes the area has to offer!