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Near the Hampton Roads region, three of the state’s biggest cities are within short distance: Chesapeake, Norfolk, and Virginia Beach. In Chesapeake Bay, residents enjoy one of the longest pleasure beaches in the world.
The greater Richmond area is home to the state capitol. More than 1.25 million people call the area home. It’s known for immaculate arts and entertainment and is home to many Fortune 500 companies.
Throughout the Commonwealth of Virginia, residents find natural beauty at the 36 state parks found in the state. There’s also amazing rivers like the Shenandoah River.
Buying a Home in Virginia
Slow, steady growth throughout Virginia ensures homebuyers and home sellers get a strong return on investment. An average 5.26% increase in home sales over the past year with a median sales price of $266,500 gives buyers the inclination that it’s a great time to buy or sell in the state. Homes have sold 5.24% faster this year than in previous years. On average, homes stay on the market for 69-days. A low 3.91% interest rate throughout Virginia encouraged many buyers to make their move to a home or to buy a new home.
Northern Virginia is the state’s most expensive area for home prices. The average home price in Northern Virginia is $479,000, a 4% increase over last year. The average sales price increased 3% from last year to $548,808. Omes sell within an average of 54-days of being placed on the market. The Falls Church City xperience the highest home prices, selling for an average price of $810,000.
Hampton Roads homes have a median sales price of $229,900 and a 77-day average time on the market.
Popular Neighborhoods in Virginia
Northern Virginia is the most desirable area of the state. Aurora Highlands and the Arlington Ridge are two of the most prized neighborhoods in the area. Immaculate neighborhoods result in pricey homes, so if you’re looking for something more reasonable, consider the Lake Barcroft area.
In the Hampton Roads area, check out the West Freemason neighborhood in Norfolk. A unique blend of historic homes with great views priced for the budget-conscious homebuyer are yours here. Westrn Branch in Chesapeake is another desirable rea. Virginia Beach is a walkable city with plenty of entertainment, amenities, and outdoor recreation.
In Richmond, choose from many attractive neighborhoods, including The Fan, Woodland Heights, and Church Hill.
Buying vs. Rent to Own Homes
Rent to own homes in VA provide buyers with an opportunity to become homeowners without the usual stress and worry. There are great financial rewards offered as well, starting with the need for an immediate down payment. Yes, you can move-in with a rent to own contract, deposit-free, paying this money at the end of the contract period. Pay monthly rent and fees and premiums and the money is applied toward the down payment. You can immediately move into the new home as another bonus to the rent to own process. Rent to own properties scattered throughout the state provide every eager buyer with a wide selection of homes to call their own.
Cost of Living in Virginia
Virgin is an affordable state to live overall, despite an 8% higher cost of living than national average. Keep in mind the pristine location, rich history, abundance of jobs, great outdoors and recreation, and the close proximity to the Atlantic and Washington, D.C. and spending a bit more seems the only logical choice.
Virginia is the best state in the U.S. in many respects and that’s something that is often noticed where it matters. The state has won numerous awards and honors over the years, including No. 1 best school system in the Southeast and the Mid-Atlantic by WalletHub, No. 1 Quality of Life by Forbes and more. Virginia appeals many people and is a great place to call home.
Reported Annual Crime In Virginia