It is difficult for a person to refuse to live in paradise. Beach, sun and party make Miami one of the cities with the fastest real estate growth, but Richmond, Virginia follows in its footsteps.
According to the most recent home value index for February 2023, the real estate company, Zillowyielded interesting revelations about the hype experienced by Richmond, Virginia.
Cities like Oklahoma and Kansas appear in the top 10, but on the heels of Miami, is located Richmond, Virginia.
While the real estate market increased 10.49% in Miami since February 2022,
housing prices in this city of Virginia register 7.43%.
The above clearly reveals that Richmond is on a boom never seen before.
Small town charm
With the pandemic, an increasing number of digital nomads he opted for a life away from the hustle and bustle.
Thus, those who inhabited large cities moved to others of medium size, and these in turn chose small towns.
Although the health crisis brought with it an inexorable confinement, the people who kept their jobs decided where to stay in isolation.
In this way, large corporations allowed their employees to continue with their work remotelysomething that few want to give up.
the tranquility of live in small placesgave many people a sense of greater control and security.
In addition, the need to “make the most of life” pushed a significant number of workers to prioritize environments surrounded by nature.
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To these reasons, another of great weight is added: save expenses.
With the health crisis, also came a rise in the cost of living, rents and mortgages. What led entire families to rethink their expenses.
It is not a secret that the real estate markets in small towns, they are generally less onerous than in big metropolis.
Owners who were able to sell their affordable homes and buy a larger one elsewhere, they benefited greatly.
Tranquility and an enviable landscape
The utopia of a peaceful life materializes in this city.
And yes, with its lake, historic neighborhoods that coexist with modern districts, transportation services, and point-to-point proximity, Richmond, Virginia, is one of the great chosen ones.
Its warm climate is pleasing to almost all people. Still, the destination experiences the passing of the four seasons like few cities.
Additionally, the lakes and roads invite its inhabitants to indulge in frequent getaways, without going too far.
It is also located very close to Washington, which allows the inhabitants of Richmond, Virginia, to go out from time to time to remember the dynamics of the big cities.
In costs, a home can be purchased for less than $200,000, and it is possible to find rentals for less than $900.
Given how beneficial it may seem to those looking for a new place to live, its original population could be affected if gentrification is not controlled.
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It is worth mentioning that since 2010, the city’s population has increased by 10%. Exponential growth for the next decade would not be a surprise.
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