Saving and investing are essential in the modern world. Good investments can pay off with a nice nest egg and ongoing income. Real estate forms one of the foundations of the contemporary economy. In today’s world, where markets are volatile and the future often unclear, investors are increasingly turning to real estate. The Eastern Seaboard has always had a draw for the savvy investor, whether it’s buying property for investment or to construct a new home to increase the value. The following states we mention in this article are prime locations to buy both land and construct a home for future investment opportunities. Those looking for a place to invest their hard-earned savings in American real estate should consider the following eastern states. Florida, New York, North Carolina, Pennsylvania, and Virginia all offer stability, drop growth, and the possibility of future gains.
Florida
The state’s mild climate and lush beauty continue to draw people here. Florida offers impressive job growth and a vast array of things to do all year long. Given these factors, it is no surprise that so many people find this a convenient place to live. Florida real estate prices, while not as low as they have been, continue to clock in below the national average. Potential buyers can pick from many different types of homes. This includes beachfront condos, freestanding single family houses in the middle of the state, and multiple family investment properties designed for travelers.
Related: The 7 Best Places to Buy a Vacation Home in Florida
New York
New York is a mecca for so many things. As a world leader in areas such as finance and the arts, the city that never sleeps is still the place to be this year and beyond. Last year was a great year for the real estate investor. This year looks just as good. Property owners are likely to continue to look to cash in their investments. Many are planning to use those funds to seek out more square footage in the suburbs. Others are intent on staying put. This gives the investor an opportunity to fix up an existing property and sell it for a big fat profit.
North Carolina
North Carolina is another state along the eastern seaboard with much to offer. From the lovely Outer Banks to the state’s thriving cities, it’s a good place to get a college degree, start a business, or retire. It’s also an ideal region for investors. The Greater Charlotte area has seen an influx of job seekers and a booming economy ready to greet them. Downtown Raleigh offers inexpensive real estate that makes it perfect for tech companies in search of an urban vibe without the need to spend a lot of money.
Related: Should You Invest in the Raleigh Housing Market in 2020? Where?
Pennsylvania
The state’s $793 billion economy is the nation’s sixth-largest. Forty-four of the nation’s 1000 biggest public and private companies make their home here, providing vast employment opportunities and a very low unemployment rate. Monroeville offers a fantastic median price range. Pittsburgh is considered one of the nation’s most livable cities. The city has many colleges and universities filled with students seeking comfortable and affordable housing arrangements. Philadelphia is situated between New York and Washington, D.C. That makes big city living possible without the need to spend a lot of money on housing costs.
Virginia
Virginia is where the southern states meet the north to the benefit of both. Many parts of Virginia have the kind of urban feel people want while still offering room to stretch out. Housing prices remain startlingly affordable. Arlington, for example, has a booming economy. Even better, median home prices are only $729,477. That makes it a fabulous choice for D.C. commuters who want a home of their own in a pleasant setting. Richmond, Virginia is another great Virginia city filled with history and so much to do. Housing prices are rising steadily, making it an ideal choice for the knowledgeable investor.
For more, read: Best States in America to Invest in Property
Start looking for an investment property in any of the 5 best eastern states using Mashvisor’s real estate investment tools.
This article has been contributed by Austin Winder.
