Did you know that Tennessee is one of the cheaper states to live in, in the US? But there’s much more to it than that.
Besides the state’s various attractions, why else should you invest in it? What does Tennessee Real Estate offer that sets it apart from the other states?
Multiple foreign investors are investing in Tennessee Real Estate! Primarily, Tennessee has a low rate of property taxes, with home values consistently rising. But they also have great retirement facilities and healthcare systems, which is always a plus point.
Well, if you care to learn more in-depth about these factors based on which you should invest in Tennessee Real Estate, head right on to the next segment!
Why Invest in Tennessee Real Estate? – 5 Main Reasons
Tennessee has breathtaking landscapes, even in small towns like Smyrna TN. But it also offers a chance for you to experience the southern cultures and their food.
However, these work more as incentives for you to visit Tennessee. But why should you invest in their Real Estate? Let’s find out.
Low Property Taxes
Tennessee has one of the lowest tax rates on property taxes in the US. Such that it’s roughly half of what the national average person needs to pay.
So, homeowners in Tennessee pay around $1220 a year as taxes, which is actually reasonably cheap compared to property taxes in most other states in the US.
Home Values Consistently Rising
Tennessee has its home values consistently rising. Especially since 2017, it has observed a steady incline in these rates. That too is well over 8%.
However, the state’s median home value is still low compared to the national average. But if you’re seeking to build up your rental portfolio, this is a great place to invest.
Plus, the state is collecting a sort of gradual appreciation. This means there are potential opportunities out there for investors!
So if you invest now, you might get more returns from it in 10-20 years.
Great Retirement Facilities
Since Tennessee is so tax-friendly, it attracts a lot of retirees. Retirees move to Tennessee from other states to enjoy these benefits.
One of the benefits of living in Tennessee is that its residents aren’t required to pay state income taxes.
In addition, the retirement benefits obtained out of Social Security don’t require any tax-paying either.
And given the low property taxes, it’s a complete win-win situation.
Top-Notch Healthcare System
When it comes to the healthcare system, Tennessee has lots of hospitals. In turn, it’s more attractive to families looking to move there.
For instance, in Nashville, Tennessee, hundreds of businesses are related to healthcare. And it’s been observed that their healthcare alone tends to contribute around $30 billion to their economy.
In fact, Nashville was even named one of the top cities in Tennessee for real estate residential investments!
It’s good to understand why investors resort to real estate and what value it adds.
Lots of Foreign Investors
One of the other things about Tennessee Real Estate is how it has seen a rise in foreign investments.
There have been over 900 foreign firms that have invested in properties in this state. And collectively, they’ve invested way more than $30 billion in these real estate properties.
You should also know that Tennessee’s FDI is fueled by two of the most popular brands in the automotive industry. Namely Volkswagen and Nissan.
But there are hundreds of other foreign-owned automotive suppliers in the state.
And add to that, there are also well-known foreign firms with their own headquarters up in Tennessee. Some of them include Hankook Tire, Bridgestone, etc.
Anyway, feel free to have a look at an overview of Europe’s real estate scene, and compare.
Now, let’s look at some of the top real estate markets in Tennessee which are worth investing in!
3 of the Top Real Estate Markets to Invest in Tennessee
While most cities in Tennessee are worth consideration, some definitely lie above the rest. Hence, we’ve shortlisted 3 of the top marketplaces there for your ease!
Nashville
Nashville in Tennessee is one of its most popular cities. In addition, it secured its place as a great place for investing in real estate.
And since Nashville falls into a well-known tourist destination, it had to make the top of this list. See, the returns obtained simply through Air-bnbs were the highest in Tennessee.
So this city is definitely worth investing in. Plus, you can always get a fixer-upper and simply flip it to benefit you!
Chattanooga
Chattanooga is a small town that you can find by the foothills of the mountains called the Appalachian Mountains. One of its main charms is definitely the mountains, but the Tennessee River also adds up.
On top of that, it has excellent universities too. So lately, this little town has seen growing traffic of students and families.
However, since it’s still on the rise, homes are still affordable. So if you’re looking to invest in Tennessee, count this as another potential option!
Murfreesboro
Murfreesboro is another city in Tennessee which is pretty close to Nashville. It consistently had a 100,000 population at the very least.
And if you partner with a local real estate agent, they can certainly make your house hunt much easier.
In addition, rent prices are increasing beside the number of rentals. So don’t fret and invest!
On a side note, there are benefits that you can get from selling houses without involving a real estate agent.
Conclusion
That’s all we had on why you should invest in Tennessee Real Estate. Hope we were able to help you find what you were looking for!
If you have any queries, please direct them to the comments section.
Thanks for reading till the end!
