When you are considering purchasing real estate, you always need to take into consideration different factors. For example, the current state of the local house market, unemployment rate, population growth, cost of living since these factors are crucial whether your living in the long-term will be quality or not. So let's take a brief insight into what are some benefits of choosing real estate in Indianapolis different from the rest of the midwest.
Low unemployment: The unemployment rate in Indy's is far below than our national average. Even more than that, it is significantly less than in most of the other cities across the U.S. This is mainly because of large companies with headquarters in Indianapolis, such as Angie's List, Inc. and Anthem. According to the official statistics of the Bureau of Labor Statistics, between 96% and 97% of the population is employed. This city records strong employment throughout history, which is a serious factor when considering buying real estate.
Low cost of living: One of the crucial factors for most people, which does not mean that it is the most important and only one. Indianapolis is more affordable than other large cities like San Francisco and New York. The cost of living in Indianapolis is also significantly lower compared to many of its Midwestern counterparts. The truth is that affordability is high, and national news outlets declare Indianapolis the cheapest place to live. Furthermore, mortgage payments, taxes, rents, and utilities are low.
High population growth: Hand in hand, low cost of living, and the lowest unemployment rate creates a healthy environment that is very attractive to new residents. For years there's an increase in Indianapolis city population.
Very stable house market: There is no doubt, the housing market in Indy's is relatively stable when we compare to all other cities across America. It is stable even during the crisis in which other cities have experienced a real decline when it comes to the housing market.
Solid ROIs: There are potential solid returns on your investment in the real estate field. You have a lot of wide options like flip and flop, which can bring decent revenue to you.
The takeaway: Throughout its history, Indianapolis has never been more attractive to people. Those are just some of the benefits Indianapolis has to offer over the other cities when it comes to choosing real estate, but they are not the only ones. There are many more things this city has to offer, and it is no wonder that it is slowly but surely climbing to the top to become the best city to live in all of America.
Selecting a real estate agent is an important first step when buying or selling a home. Mandy Shafer is an experienced local expert who is familiar with the market and prepared to assist with all of your real estate needs. Contact us today to get started.