3 Things to Think About When Buying Property on the East Coast vs. Buying Property on the West Coast

Dated: June 2 2021

Views: 47

3 Things to Think About When Buying Property on the East Coast vs. Buying Property on the West Coast

Real Estate investing differs from coast to coast. While an acre of land on the East coast is more valuable, the West coast has more options when it comes to finding that acre. But this isn't a new phenomenon. Since the first pioneers set out west, the east and west have been opposed against each other.

1. Land that is available

The size of the land on the east and west coasts differs the most. In the eastern United States, there is a finite amount of land to develop on due to property and state size. As a result, property values have remained high, and the vacancy rate has remained low at about 1%. This implies there will be fewer unoccupied lots to choose from, and if you do locate one, it will be pricey to buy.

The land area on the West Coast is significantly larger, allowing for larger dwellings, more outdoor space, and lower per-square-foot purchase pricing. The West Coast is your best chance if you're seeking for a large piece of land.

2. The Best States for Real Estate Investing

What's not to love about Florida's East Coast, with its fun in the sun, Disney World, and world-class beaches? Florida is the most popular place to invest in real estate. Florida real estate will pay off handsomely whether you're searching for a vacation house, a rental property, or a retirement house. In addition, Tampa has one of the fastest-growing economies in the United States.

Washington, with its beautiful scenery, large land potential, and rising economy, has become the spot to invest in real estate on the West Coast. Hundreds of migrants and renters are moving here thanks to cities like Seattle's low jobless rate. For investors like you, this represents a lot of money. In this Evergreen state, even land in more rural areas is in high demand.

3. Property Tax Rate

Property taxes differ from one state to the next and even from one county to the next. Some states provide property tax exemptions to seniors and veterans, while others provide property tax relief programs if you run into financial difficulties. When comparing coast to coast, however, averages must be taken into account.

The percentage of a home's worth that goes to property taxes is calculated using a property tax rate. The property tax rate on the East Coast is the highest and West Coast has the lowest property tax rate. The West Coast offers a better value from an investment standpoint, with lower property taxes on average, especially if you have a property that has been idle for months at a time.



Blog author image

Betsy Tinervin

Specialties: Buyer's Agent, Listing Agent, Relocation, Property Management, Investment Specialist, Muti-Family Investment Portfolios Military Relocation Specialist/Certified Betsy Tinervin is train....

Latest Blog Posts

Practical Tips When Buying A Home In St. Petersburg, FL

Practical Tips When Buying A Home In St. Petersburg, FLPurchasing a new house for the first time can be a daunting task. You must examine not only your current wants and finances, but also how your

Read More

Selling Your House For The Best Deal in Tampa Bay, FL

Selling Your House For The Best Deal in Tampa Bay, FLIf you price your house correctly, it will sell regardless of the state of the real estate market, and it will most likely sell within three

Read More

The Four Best Beaches in Tampa You Must Visit

The Four Best Beaches in Tampa You Must VisitWith so many coastlines and so little time to do anything but lie on the beach, you may not be able to visit every beach in the area, so here's a list of

Read More

Lumber Prices Are Rapidly Declining

Lumber Prices Are Rapidly DecliningDue to the difficulty of precisely estimating projects during construction, lumber prices have been rising for months, leading builders to hike their prices and,

Read More