5 Hot Markets for New Construction
The new housing market has had some ups and downs over the past decade, but currently, new construction is picking up pace all over the country. Certain cities are experiencing more rapid growth than others and might be worth checking out if you are looking for a great place to live and a new construction home. Here are the five hottest markets for new construction that should be on your radar.
Atlanta, Georgia, is one of the fastest-growing cities in the country for new homes. Not only is the capital city a financial and cultural hub within the state, it is quickly emerging as a national leader. The economy is bolstered by major finance and healthcare companies along with a thriving music, television and film industry. The city is attracting educated, talented and creative people, which has helped create a boom of new construction in Atlanta.
New housing within the city, in cities like Decatur or areas like West Midtown, allows residents to avoid the notoriously congested traffic on local expressways and enjoy a walkable city. Despite rapid growth, which shows no signs of slowing down, the cost of living in Atlanta, Georgia, is incredibly affordable, especially compared to other major cities. All of these factors have helped to make living in Atlanta enjoyable, contributing to its rapid growth of new construction homes.
Charlotte, North Carolina
Charlotte, North Carolina, is another Southern city on the rise, and is home to some of the best places to live in North Carolina. It is the most populous city in the state and consists of distinct neighborhoods that each have their own feel. Traditionally, housing has been concentrated in the surrounding suburbs, which provides an easy commute for workers coming downtown to Bank of America or Wells Fargo headquarters.
However, new construction has largely been concentrated in the “uptown” area. This provides newcomers with the opportunity to experience everything the city has to offer just by stepping out their front door. From world-class restaurants and shopping to professional sports teams, there is truly something for everyone, which is why thousands of people are moving to the city every year. Want to read more about new homes in Charlotte? Check out our blog on 5 Reasons to Move to Charlotte.
During the Great Recession, the Midwest was hit especially hard and many people left in order to find work and survive the economic downturn. Now the tides have turned, and Columbus has become a boom town with a rapidly growing population and a hot new construction market. Young, educated professionals and families are looking to move downtown and take advantage of affordable new construction homes in Columbus.
What are some of the top reasons to move to Columbus? Overall, the cost of living in Columbus is well below the national average and houses in the downtown area offer additional tax breaks, which means that a greater portion of mortgage payments can go towards paying down the principal. With excellent school systems and safe neighborhoods, Columbus is a family-friendly city that still offers a small-town feel, making it a great place to call home.
Nashville, Tennessee, has long been known for its country music scene, but there is a lot more to this city that is helping to make it one of the top new construction housing markets. For those who aren’t looking to land a record deal, the city offers a booming tech and healthcare industry along with a vibrant artistic community.
The weather in Nashville is relatively temperate and perpetually sunny, which means that residents spend a lot of time outdoors taking advantage of the city’s many parks and hundreds of miles of greenway trails. With an excellent school system and dozens of colleges and universities in the area, the city provides a great place to raise kids and receive a world-class education right at home. While living downtown can be expensive, neighborhoods on the edges of the city offer more affordable prices. These new homes in Nashville offer the best of both worlds: all the benefits that come with purchasing new construction plus proximity to a thriving downtown.
With countless beaches and warm weather throughout the year, it is no wonder that Palm Beach, Florida, is one of the country’s hottest markets for new construction. People from all over are buying new homes in Palm Beach to take advantage of the healthy job market and excellent school system. While the area has a reputation for being an expensive place to live, residents don’t have to worry about paying a state income tax and new construction is providing more affordable housing options. If you want to escape the cold weather and enjoy a vibrant city that is rich in culture and history, Palm Beach could provide an excellent investment opportunity and a great place to live and work.
Buying new construction means that you don’t have to worry about repairs and you can move into a home that comes ready and fully equipped to meet the needs of your family. When you purchase a new construction home in one of the country’s hottest markets, you also get to experience the best that these growing and vibrant cities have to offer. If you are ready to find a new home in one of these vibrant markets, be sure to check out the new homes offered by Pulte.
Contributed to Your Home blog by Amy M. Blitchok
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