This ARTICLE On The Top Reasons To Buying A Home In Tennessee For Home Buyers Was PUBLISHED On September 10th, 2019
Many residents of high taxed states are making Tennessee their home.
- A large percentage of New York residents are moving to Tennessee
- Tennessee is attracting many homebuyers from high tax states such as New York, Illinois, New Jersey, California, and countless other states
- The state is always ranked in the top 5 Best Places To Live in many real estate publications
- The whole state has a beautiful landscape with its Southern atmosphere, great hospitality, amenities, and most importantly, the state has no state income taxes
- Tennessee is one of the 9 states in the U.S. where there are no state income taxes
- There are weekly, monthly, and annual festivals throughout the state
- Many fall in love with the state’s rolling hills, and the beautiful landscape of the state
In this article, we will cover and discuss the Top Reasons To Buying A Home In Tennessee.
Top Reasons To Buying A Home In Tennessee Is Due To Housing Prices
Home prices in Tennessee have been rising for the past three years. However, home prices are still very reasonable in all counties throughout the state
Alex Carlucci, a Senior Vice President at Gustan Cho Associates and a housing expert has roots in Tennessee. Alex says the following:
Williamson County, Tennessee has a 4% lower cost of living than the National Average. And a 13.1% lower cost of housing than the National Average. This means that if you are moving from a higher income location you will have more cash flow to enhance your life, and purchase a larger home for your family, with 3,129 square feet being the average house size. If you come to Franklin, TN you are going to hear about the amazing schools. With $145 million awarded in scholarships (in 2016) and 100% of Williamson County students taking the ACT’s, people are very proud of the 44 schools in this area, 21 of which were named 2014-15 Reward Schools by the Tennessee Department of Education, and in 2015 WCS earned all A’s in 3-8 achievement. Williamson County has had the fastest-growing job market (as far as large counties are concerned) in all of the United States of America. The area has a highly educated population, which contributes to the incredible job growth and above-average pay. If you are in need of a good quality job, this is the market you want to move too. With a 2% unemployment rate, and a job growth rate of 29%.
Top Reasons To Buying A Home In Tennessee Is Due To The Great Economy
The state of Tennessee has a solid economy.
- The state is profitable
- Tennessee is one of the 9 states in the United States where there are no state income taxes
- Residents relocating to Tennessee from high-taxed states will not regret making this state home
- Over 65% of the population in the state has a bachelor’s degree
- The average income for a Tennessee wage earner is documented at $87,750 annually
Cost of living is 4.0% lower than the national average.
Top Reasons To Buying A Home In Tennessee Is Due To No Income Taxes
Alex Carlucci issued the following statement about taxes in Tennessee:
Tennessee ranks 43rd in property tax and 43rd in income tax. As a % of income, Tennessee’s overall tax burden per capita is 7.1% in the nation, only behind South Dakota, Wyoming, and Alaska! This means that the state has shown great fiscal responsibility in local budgets.
The state of Tennessee is one of the 9 states in the U.S. where there are no state income taxes. However, sales taxes are higher than the median sales tax in the nation.
What New Residents Say About Tennessee After Moving There
Gustan Cho Associates Mortgage Group is a national lender licensed in multiple states.
- Many of our clients are leaving high-taxed states to the Great State of Tennessee
This is what one of our borrowers who recently closed on their home said about making Tennessee their new home:
A place people often referred to as ‘God’s Country’ simply for it’s beauty and esthetic. Rolling hills, bustling brooks, horses and cows, post and rail fences, historic buildings, stately homes, country stores, this is a place that will make you want to go for a drive and get lost for an hour. We love it here. We cannot wait to explore the rest of the state. One of the greatest decisions we made was leaving New York and making Franklin, Tennessee our home.
Another homebuyer who recently closed on their home in Tennessee said the following:
You will find preserved homes, historic civil-war sites and museums, placards and signs as you drive through the city streets and down the country roads. It is a place where old meets new.
Qualifying For A Mortgage In Tennessee
Gustan Cho Associates is a direct lender with no lender overlays on government and conventional loans. We are also experts on Non-QM Mortgages. We are licensed and bonded in Tennessee and multiple states.
If you’d like more information about qualifying for a mortgage in Tennessee, or you are thinking of relocating, contact us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email us at firstname.lastname@example.org. The Team at Gustan Cho Associates Mortgage Group look forward to hearing from you and working with you!