The Charlotte real estate market has been booming since we came out of the "Great Recession." The booming economy has made the Charlotte real estate market especially desirable for investors looking for a safe investment. Here are three reasons to consider purchasing investment property in Charlotte - even if you do no live here!
1. Stable Economy.
The Charlotte real estate and job market are bolstered by some of the country's top corporations which act as a stabilizer for our economy. A considerable and important indicator of a city’s economic strength, stability, and durability is the presence of Fortune 1000 operations. The Charlotte Region boasts numerous, including 6 Fortune 500 headquarters (Bank of America, Lowe's, Duke Energy, Sonic Automotive, etc.) and 14 Fortune 1000 headquarters calling the region home. In addition and fundamental to the continued growth of jobs, at least 200 of the Fortune 500 companies have made a commitment to Charlotte by establishing facilities within the Charlotte region.
2. Temperate Weather.
Where many investors may be eager to invest in properties near the coast or perhaps become captivated by mountain getaways, the Charlotte Region is far enough inland to be sheltered from the brunt of hurricanes and fortunate to be shielded by the Appalachian Mountain range to the west which block low temperatures and most snow storms from entering area. This means less wear and tear on your property, better insurance rates, safe tenants, and more money in your pocket!
3. Predictable Returns.
The undeniable presence of big business in the Charlotte Region means that investors reap the rewards of corporate relocation time and again. Relocation companies assist the top corporations in making smooth transitions for their employees to begin their new lives and ensure they are able to quickly adapt to their new environment. In other words, they will pay top dollar to safeguard the production power of the newly relocated staff members.
On the other hand, the Charlotte Region is not particularly known to be vacation hub. Not to detract from the all exciting attractions in the area, but Charlotte is far from being the next Orlando. This may initially sound disheartening, but in reality it speaks to the certainty of the rental market throughout the year. Most markets which profit from being known as a vacation scene, enjoy only a temporary boost to their cyclical economies. Where as Charlotte and the surrounding area tends to be more insulated from the ebb and flow of a seasonal economy.