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Alexandria is one of the hottest spots in the state of Virginia. In fact, the population grew nearly 14% over the past decade.
This rate of increase is faster than the state’s population growth rate. The current population is nearly 160,000 people.
There are many good reasons to live in Alexandria. Residents enjoy proximity to the nation’s capital, robust economic opportunity, and a wonderful quality of life.
Read on to learn about the homeownership benefits of moving to Alexandria, VA. Explore topics such as things to do in Virginia and how the smart homeowner is taking advantage of the hot real estate market.
Cost of Living
One reason that people are moving to Virginia is the affordable cost of living. As a homeowner, you get the benefit of Washington D.C. employment and wages. At the same time, you do not have to pay the same high property taxes that people see near New York City or Philadelphia.
As a percentage of home value, Virginia ranks 29th in the nation in property taxes. This is an impressive feat considering that Virginia is nestled on the Atlantic Ocean. It also offers proximity to major industrial centers.
Rising Home Prices
Purchasing real estate in Virginia is a wise investment. Home prices are rising rapidly and homeowners are taking advantage. This is one of the primary reasons that the local moving industry is so busy.
In just a single year, home prices increased by roughly 8% from February 2021. There is still great demand for Alexandria housing. This is putting additional upward pressure on home prices.
The average sell price for a house in Alexandria is nearly $650,000. In Fairfax County as a whole, the median sale price is nearly $715,000.
As a homeowner, you stand to benefit from price increases. Your equity position in the house is growing on a monthly basis. As a result, your net worth is also on the rise as the real estate investment pays off in the short run.
Community and Culture
With proximity to Washington D.C., the local area is brimming with culture, cuisine, and a sense of community. As lizluke.com articulates, local neighborhoods like Del Ray offer the perfect place to settle down. Here, you can enjoy the sounds of music throughout the day, take yoga classes, and relax at a local café.
As a homeowner, you can take in the area’s local history. There are many museums, landmarks, and other noteworthy contributions to history for exploration.
There are a lot of things to do in Virginia. You can take in a Washington Commanders’ game or see the Wizards play basketball. College sports are also popular. Whatever your interest is, Virginia is capable of fulfilling it.
Homeownership Benefits in Alexandria, VA
Clearly, there are a lot of advantages to living in Alexandria. Professional movers are packing up a lot of houses and apartments to help families relocate here.
You can achieve an unmatched quality of life in Alexandria. With the culture, employment opportunities, and proximity to the capital, what could be missing? If you enjoyed this article about homeownership benefits in Alexandria, VA, check out our blog for more great content.
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