• FirefoxInstall the new Firefox »
  •  
    Renting & Real Estate

    Question

    Why are houses so cheap in Greensboro, NC?
    My husband and I are going to be buying our first house within the year. He's looking for a new (better paying!) job. We're both college graduates. We were driving to Myrtle Beach around new years, took the wrong exit and got lost in Greensboro. We both REALLY liked it there. I've gone down there to go shopping and stuff with friends a few times & I have college friends from the Greensboro/Winston Salem area. It's definitely where I want to live and I think it would be a nice place for kids to grow up. I was wondering though, why are the houses a fraction of the cost of everywhere else I've lived (MD, FL, TN, PA, and currently VA)? I mean, the houses we've been looking at online there are like 125,000-145,000 and would definitely be over $250K here. Is this a bad sign? Is the economy in trouble there? Are the jobs low paying? Is it just an awesome place to live haha? What is it?
    a few seconds ago 4 Answers

    Best Answer

    Chosen by Asker
    Actually, the Greensboro area is a quiet gem in real estate. Values have steadily increased over the years but not at all on a speculative basis. Greensboro is located 80 miles of congested and higher priced Raleigh and about 90 miles northeast of Charlotte. It is a great location for shopping, entertainment, recreation, dining, and great medical facilities. While housing can be expensive if you are looking at 3500 sf and up homes in the County and older homes in the elite parts of Greensboro, there are several neighborhoods where gorgeous homes under 3000 sf can be gotten for $150 to 250K. It is a great area for raising a family, the bass fishing is super and of course there is nothing like ACC basketball. Greensboro is the center of a 1.5 million metropolitan area spread over 12 counties and includes Winston-Salem and High Point. Major highways such as I-40, I-85, I-77 lead to the mountains and the shore. We also have Piedmont Int. Airport and we are on the North South Amtrak line with full depots in Greensboro and High Point. As for jobs, the area is shifting from a manufacturing center (cotton and furniture) to technology and transportation. There are several major universities in the area (Wake Forest, U. North Carolina, NC A&T, Guilford College and the 3rd ranked community college -GTCC). Wages are lower than NYC, Philadelphia but some living costs are way lower also. Therre are many areas where wages are comparable to other metropolitan areas. Car insurance is less and since we do not support the schools with a property tax the home taxes are way lower than NY, NJ, PA. Food costs about the same or a little less. Gasoline tends to be a little less than other areas altho it may be cheaper in NJ and Virginia (???)
    a few seconds ago

    Other Answers

    • The cost of living is lower there. I live in the DC area and things are VERY expensive here, but if you have a good job/career here you make more money. I'm not sure but I would asume that if the cost of living is less there then you can expect that you won't make the kind of money that you make here there.

      by Sabrina P - 8 hours ago

    • Location, location, location. . . . . And it's in the South, lower cost of living. Unfortunately the schools in the Carolinas have tended to be poor. Check out the schools where you're looking to buy.

      by chatsplas - 8 hours ago

    • You've lived in areas where the cost of living is higher than in North Carolina. You might not make as much money in Greensboro as you would in those other states, but it would not cost as much to live there either. Greensboro is a growing city, and it is a beautiful place to live. That is why the housing costs are less. You'll probably find that all across North Carolina. My grandparents sold their small house in New Jersey and then built a house here in North Carolina for the same cost they sold their old house for! My sister moved to Angiers NC from Virginia and they paid much less for the house here in NC than they paid for their house in VA. Don't worry about it, the economy in Greensboro is a good one. And it is a very pretty area! Good Luck with your house hunting!

      by bpsgirl123 - 8 hours ago

    Recommended Articles

     
     
     
     
    Yahoo Small Business Services