Whether you’re planning a move or simply looking for a good investment, the city of Auburn, Alabama provides excellent opportunities all around. This “college town” of nearly 66,000 people has been aptly dubbed, “the loveliest village on the plains,” and in recent years it’s seen a huge surge of growth as a result. Let’s explore four reasons why you might want to consider buying Auburn, AL real estate.
1. Buying vs Renting Auburn Real Estate
If you’re planning to live in Auburn — or if you’re planning to send one or more children to college at Auburn University — you’ll soon discover the challenges of the rental market here. With tens of thousands of students seeking housing every year, good rentals are in high demand, often with high market rates to match. If you or someone you love will be staying in Auburn for more than a few months, it may make better financial sense to buy rather than rent.
2. Appreciation Values are Promising in Auburn
Auburn is one of the fastest-growing cities in Alabama, experiencing a growth rate of more than 26 percent over the past decade. While interest rates are at historic lows and home values are still relatively affordable in this area compared to other parts of the country, property values are expected to go up as the city continues to grow. For a home buyer or an investor, this means buying Auburn, AL real estate shows a lot of promise for appreciation over time.
3. Numerous Revenue Opportunities
Even if you don’t have plans to live in Auburn, owning real estate here can be an excellent investment opportunity. As a major location for college football, the city sees tens of thousands of people visit from out of town for home games — many of whom are seeking short-term or vacation rentals as opposed to staying in crowded, overpriced hotels. There are also thousands of students and faculty from Auburn University who need long-term rental housing year-to-year. And parents of college students may find that buying a home in Auburn can save them thousands per year on dorm costs or rental rates, not to mention providing possible opportunities for sublets. In short — real estate generates income in Auburn.
4. Auburn Is a Great Place to Live
Finally, if you’re on the lookout for an excellent place to live, work, raise kids, or even retire, you can’t do much better than Auburn. From natural beauty and outdoor recreation to sporting events, from art and culture to quiet country living, there’s plenty to see, do and experience here. Even if you don’t plan to use your home as a financial investment, buying in Auburn or in nearby Opelika can be a great long-term investment for you and your family.
When deciding on Auburn, AL real estate, many people find that buying a new construction home is preferable to buying an older existing home. New constructions are comparable in price to existing homes, and they require less upkeep while affording owners the chance to customize. Lowder New Homes is the builder of choice in the highly desirable Summerlin neighborhood of Auburn, and if you’re looking for homes for sale in this area, we’d love to discuss your housing needs. Give us a call at 334-270-6789 to talk to a real estate agent who specializes in helping buyers find Auburn homes.