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Best Cities for a Ground-Up Construction Loan in Georgia
Georgia is a peach of a state (pun intended) for real estate investors seeking to utilize a ground-up construction loan to fund their next project. As the 8th most populated state in the entire country, Georgia has a diverse and vibrant demographic with a wide range of outdoor recreational activities to suit just about any lifestyle—from hiking on the famed Appalachian Trial in the northern region of the state, taking a beachside stroll in the southeast or enjoying the Georgia Aquarium and the Martin Luther King Jr. National Historic Site in Atlanta. From big city urban vibes to relaxed country living, Georgia is truly the ideal spot to build your next investment project and lock in a sustainable, long-term passive income stream to aid your efforts in building generational wealth.
Georgia home values have risen across the board as the statewide market continues what has been a truly impressive bounce-back from the COVID-19 shutdown—and the good news is that experts don’t expect this trend to slow down anytime soon. Location is everything when it comes to ensuring the overall viability of an investment project. To that end, here is a closer look at some of the most promising markets across the state of Georgia to help you get started on selecting a location to break ground on your new project.
ROSWELL
Roswell is an in-demand Atlanta suburb with a fast-growing population of approximately 100,000. The community boasts a charming 640-acre historic district featuring several attractions ranging from ghost tours, restaurants, festivals, shopping, theatre and the pristine trials running along the banks of the nearby Chattahoochee River. The average sales price is in the neighborhood of $400,000 and is continuing to increase annually. The average rental price is in the mid $1300s and new units typically only spend under two weeks on the market before they are rented. With home values expected to increase between 3-5% in the next five consecutive years, Roswell is a great market to build a new construction property, and the active transactional nature of the local real estate marketplace ensures that your property will not sit vacant on the market for long—which is excellent news for your bottom line and staying on track in terms of time and budget.
ATLANTA
Hands down one of the smartest real estate investment moves in the entire country—let alone Georgia—is to get your foot in the door of the Atlanta market. Over 5.5 million people call this urban oasis home and the U.S. Census Bureau anticipates this number to increase to over 8 million by 2022—which is a growth rate of over 100% the national average. This exponential population growth is quickly creating an unsatiable demand for housing options, meaning that savvy real estate investors have a distinct opportunity to capitalize on this dynamic location. A great place to start is The West End, which is chalk-full of picturesque, historic communities that offer a tranquil respite from the hustle and bustle of city life. The average property value in The West End is an affordable $153,000 and the average rent price is $752 per month—making it a desirable destination for price-conscious homebuyers and renters alike.
COLUMBUS
Columbus is the third-largest community in the state and the fourth-largest metro center. The city is comprised of 33 distinct neighborhoods with several development opportunities for real estate investors looking to build new properties. The average list price of Columbus properties is around $170,000, which is an impressive 9.4% annual increase. This hidden gem offers an enviably unique blend of a vibrant artsy energy with a rich local culture and mouth-watering food scene. What’s more, its also ideally located close to numerous outdoor activities for those seeking an active lifestyle. All told, it is the perfect place for investors to develop a new property and maximize what all industry experts anticipate will be a consistent price appreciation trend over the coming years.
CHOOSE THE RIGHT PARTNER
Express Capital Financing offers efficient and accessible ground-up construction loans geared towards real estate investors looking to optimize their business. We have the experience and resources to get you the money you need when you need it. Contact us today to learn how we can assist you in upping your investment game!
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