When you’re planning a move to a new city, research is a crucial part of the process. Looking up Plano's crime rates, finding the safest neighborhoods and figuring which of Plano’s school districts suits your child or children the best are all important questions to ask before you move to Plano Texas. In addition to these questions, there’s one more that you’ll have to ask before you pack the moving truck and head towards your new town: what is the average price of a home?
This question will play a significant role in determining where you buy a home and whether or not you make a new life in a particular city. When it comes to the city of Plano TX then, you may be wondering what this figure looks like. Can you afford it? Is the price of a home above average or below? What other real estate trends will you find in this market? In this FAQ, we’ll be doing our best to answer these questions. Let’s begin!
If you’re planning a move to Plano, we’ve got some good news and some bad news for you. The good news is that the property appreciation rate in the city of Plano TX is very high. This means that if you buy property here, you’ll be securing an appreciating asset that will gain value very quickly. The bad news is that this has led to higher-than-average real estate prices in the city. If you want to buy a home here, you can expect to pay a pretty penny!
First off, let’s take a closer look at property values in Plano TX. With an average home price of $439,000, there’s no question that real estate here is more pricey than it is in many other cities across the country. While interest rates on home loans are lower than they’ve been in a while, you’ll still need a sizable amount in cash for a down payment on a home here.
To go into a bit more detail about that good news, appreciation rates are astronomically high. With real estate prices increasing by an average of 23% annually, buying a home here is literally a better investment than buying gold! Considering the higher-than-average median home value, it’s safe to say that you could make a whole lot of money if you buy a house now.
Taking these factors into account, we’re fairly confident that you might be leaning towards making this city your home. We don’t blame you! If this is indeed the case, you’re going to want to get in touch with one of the fine real estate agents in Plano TX. These skilled, experienced professionals are your best option when it comes to buying property in this beautiful city. We wish you the best of luck!