Tennessee combines breathtaking outdoor activities with a low cost of living and a warm climate. If you want to buy land in Tennessee then the state has its pros and cons. The pros, however, outweigh the cons. For help you can connect Real estate agents Pattaya.
Few reasons to buy land in Tennessee
- Steady returns: The median value of a house in Tennessee is $185,920. It is anticipated that the values will further increase by 3.5%. Investing your money in buying land may prove to be a profitable decision in the long run. With steady returns, you also get a sense of security in knowing that the value of your house would not depreciate.
- Safe investment: As we have already pointed out that the real estate in Tennessee provides steady returns, it is fair to say that investment in the form of land is a safe option. It is much safer than stock markets which are subject to very high volatility. One can relax and let the market forces do the work.
- Affordability: The median price of listing in Tennessee is $255,000. This is below the national average which stands at $285,000. It is expected that the prices are going to rise in the near future, so now seems like a good time to buy a land/house in Tennessee.
- Cost of living: The cost of living index in Tennessee is 87. This means it is cheaper than the combined cost of living in all the states in the United States. Housing, transportation, and utilities are some factors that contribute in pulling this index down. With a low cost of living, this state is suitable for all sorts of people, be it youngsters or retirees.
- Job opportunities: There are abundant job opportunities in Tennessee. As the state is making speedy progress, new jobs are being added at a rapid rate. The unemployment rate is 3.4% in the state which is slightly below the national average of 3.6%. Some of the jobs that are in high demand are physical therapist, marketing internship, tax preparer, interpreter and translator.
- Low taxes: Tennessee has very low property taxes. The mean effective rate is a mere 0.74%. In addition to this, retirement income is not taxed. The state also does not tax benefits from social security. In terms of property tax, the state ranks 14th in the list of lowest property taxes in the United States. A resident of Tennessee is expected to pay an amount less than $1200 each year as property tax.