The Best Kinds of Property in Chattanooga To Invest In

The Best Kinds of Property in Chattanooga To Invest In

With rents rising at twice the rate of the national average, Chattanooga is a promising place to invest in real estate if you envision great returns.

This is due to high demand spurred by rising home prices and high immigration from other parts of the country. People are flocking to Chattanooga in search of a small-town community vibe backed by growing employment. 

All these newcomers need somewhere to stay, making Chattanooga real estate a good choice for investors from around the country. 

Keep reading for tips on investing in the best property in Chattanooga.

Best Areas for Investment in Chattanooga

There are abundant reasons to invest in the Chattanooga real estate market, especially if you know where to start shopping. Some of the best areas to buy investment properties include:

  • North Georgia for its good schools
  • East Chattanooga for great value
  • Downtown for house flipping projects
  • North Shore and Ooltewah for jobseekers
  • Red Bank and Hixon due to high rental demand

These are the best places to look if you want to minimize vacancies and take advantage of relatively low house prices.

Best Kinds of Property to Invest In 

According to a local real estate expert, two-bedroom apartments are currently the most popular choice among renters in Chattanooga.

Yet, the type of property that's best for you depends on your budget and your aims. If you want to target families, single-family homes are your best option, while condos and apartments suit young professionals better.

Thanks to the University of Tennessee, Chattanooga has a large student community in need of housing. These young renters are always on the lookout for apartments and houses for single and communal housing. 

Does the Age of the Home Matter?

You can pick up some well-priced older homes that bring good returns but remember these aged homes may require some repairs. They are also more likely to need ongoing maintenance.  

Newer homes cost more, but they attract higher rentals and often involve less upkeep. 

Before you commit, it's best to work with a property management expert to help determine the costs involved in each property vs. the rentals you could charge. 

Other Considerations

It's important to keep renter preferences in mind when buying an investment property. Most people want secure parking and proximity to conveniences like stores and schools.

Students need accommodation close to their schools or public transport routes and prefer easy access to popular nightspots and sports facilities. 

If you're considering short-term rentals, it's important to look at properties close to major Chattanooga attractions. These include:

  • Walnut Street Bridge
  • Tennessee Aquarium
  • Creative Discovery Museum
  • Chattanooga Zoo
  • Audubon Acres

Downtown is always a popular location among vacationers wanting to enjoy the nightlife, dining, and shopping available in Chattanooga.

Make the Most of Your Property in Chattanooga

Once you've found your ideal investment property in Chattanooga, the next step is deciding on a property management company to take care of it for you.

A great property manager takes all the hard work out of investment properties. Get in touch to discuss how we can help you maximize your Chattanooga real estate. 

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