Deciding on a place to plant your roots and start a life is no easy task. Memphis, TN is on the fast track of top places to live in the country. Memphis is one of the many cities that is seeing tremendous growth after the economic downturn and is quickly becoming a favorite among millennials and families alike. One of the most attractive parts about Memphis is the affordable housing prices. This offers the perfect location to complete a Memphis custom renovation or to build your own custom home. Find out why so many are flocking to Memphis here.
Why Millennials Are Moving to Memphis in 2016
Millennials are not just a generation, but a culture and a state of mind. This age group is in search for technology, culture, and authenticity. Memphis often gets a bad rap but in reality, it is in the top 3 of destinations for millennials in 2016. Memphis is one of the nation’s smallest big cities, allowing for an easy transition for small town people seeking a big city life and vice-versa. Memphis was recently ranked #2 by Forbes magazine for most affordable cities, which is a huge draw for millennials. You don’t have to earn top dollar to live comfortably and generate savings while living in Memphis, TN.
Authenticity of Memphis
Memphis has tons to offer in terms of authenticity. Music is huge in Memphis, as it is the home of Rock-n-Roll, blues as well as Indie music. Memphis is home to the annual Beale Street Music Festival, that headlines the biggest names in music. Memphis is also known for their food and best known for their own type of BBQ; people nationwide flock to get a taste. Memphis holds the World Champion Barbeque Cooking Contest every year. If you like the outdoors, you can experience all 4 seasons. Mild winters, warm spring and fall days, and sunny summers. Here’s a fun fact for beer enthusiasts; 60 million beers are produced in Memphis factories.
Growth in Suburbs
The median income in Memphis may be lower than the national average at the moment, but this could be used to your advantage if you’re in the market for a home. The suburban areas surrounding Memphis has seen a growth of population in recent years. Some may say this is a direct reflection of the economical growth in the city of Memphis itself. Enjoying the benefits of the bigger city, but living outside often creates appeal to families looking for more land, different school districts, and more diversity. All while offering a potentially less hectic lifestyle rather than directly in the city.
Condo Renovation Growth
Condos are a fairly recent trend especially with millennials who are captivated with the city and the non-stop attractions that city living has to offer. The younger generation are now looking for an initial investment property at the moment. This makes Memphis the perfect place for a renovation. Some purchase condos that have less than attractive qualities to enter the housing market. These buyers are opting to renovate condos to keep costs down and the potential ROI high
These are just some of the reasons to consider Memphis, Tennessee for custom home and renovation investments. Learn more about the housing market from MH Akers today!