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North Carolina Land for Sale - Now is the Right Time to Buy

Situated in the southeast, the state of North Carolina has seen its population boom in recent years. The state currently has the ninth highest population, with an estimated 10 million people living in the state as of 2015. North Carolina has a total land mass of 53,819 mi.², making it the 28th largest state in the United States. Just 9.5% of the state’s total land mass is comprised of water, and the state has 100 different counties. The two largest metropolitan areas in the state are Raleigh and Charlotte, and the state is also home to several different mountain ranges. Mount Mitchell is the highest elevation in the state, and the highest point in North America east of the Mississippi River. The state's climate is greatly influenced by the Atlantic Ocean, and much of the state experiences a subtropical climate. North Carolina Population Growth Before you buy any property for investment, you need to know more about the local area. One of the biggest factors that I look into when investing in land is population. A strong growth of population allows you to have a better understanding of what your investment may turn out to be in the future. It wouldn't make sense to invest in an area where everyone is leaving, and there is no local economy. North Carolina is lucky enough to have strong population growth, and the state had 9.5 million residents as of 2010. This number has increased by 500,000+ people over the last five years, jumping to 9.943 million in 2014 according to estimates. In terms of population growth, between the years of 2010 and 2014, North Carolina had strong growth in population of 4.3%. When looking at the rest of the United States, population growth was just 3.3%. More people are moving to North Carolina than the majority of other states within the continental United States. The state is pretty much on par with the country in terms of demographic breakdown: * 6.1% of people are under the age of five * 23% of people are under the age of 18 years old * 14.7% of people are over the age of 65 Interestingly, 51.3% of the population is comprised of women, and there were a total of 4.452 million housing units in the state in 2014. The median value for homes between 2009 and 2013 was $153,000. The median household income is slightly lower than the national average of $53,046 at $46,334. Note: The statistics are from 2013 and 2014, so it is likely that the median household income has risen in the past year. North Carolina Land Opportunities North Carolina is a fun state in terms of geography. You’ll find land in the mountains in the West portion of the state, and in the eastern portion of the state, you’ll find waterfront properties right on the ocean. There are also many farms in North Carolina as well as flat land. Virtually any type of land that you could ever want to find (aside from desert land) is available in North Carolina. It’s also great state in terms of climate. If you move to the western part of the state (near the mountains), you’ll find that this area has the most temperate climate in the entire state. Being far from the ocean, you don’t have to worry about hurricanes, and the mountains themselves protect you from tornadoes. The climate is offset by the mountains, so snowfall totals are lower and temperatures are milder as a result. All of this should be a part of your consideration when buying land in North Carolina. Several land opportunities are available in the state, and the following is just a small sample of what is currently on the market: * A 1.12-acre lot in Person County is currently for sale for $5,900. This particular lot has been assessed at a price of over $13,000, and is an all-cash deal. You’ll find that this lot has paved road access and electricity available. * A 0.48-acre lot in Woodleaf, North Carolina was just sold at a rock-bottom price despite the property being valued at over $20,000. A beautiful lot surrounded by homes, this was the perfect place to build your dream home. Electricity was available and the lot was situated on a paved road. This land was zoned as family residential or agricultural. * An 11.48-acre lot sold for under $12,000 in Reidsville, North Carolina. Offering dirt road access, electricity was available on the lot and it was zoned for single-family residential. Dirt road access was available on the lot, and property taxes were just $270 per year. The land opportunities in North Carolina are immense, and you’ll be able to find land for your every need: farming (a major part of North Carolina’s economy), waterfront land, residential. You name it – you’ll find it in North Carolina. Another major benefit of investing in land in the state is that you’ll be able to pay low property taxes. Unlike other states, North Carolina has relatively low property taxes, which makes it a great state to purchase land for a long-term investment. Trulia named North Carolina as one of the top markets that have turned around since 2012. The real estate website states that North Carolina cities stand out among the crowd in terms of rent, ownership and strong economic growth. Two cities were named in the top 10: Raleigh and Charlotte, ranking seventh and ninth respectively. In terms of growth in the labor market, North Carolina also ranks among the best states for labor market growth. Many of the top cities in the survey were in California, with four California cities in the top seven. These cities have extremely high housing prices that often stretch into the several million dollar range, and are not indicative of what most people can afford as an investment. Several other cities made the list, including Denver, Seattle, West Palm Beach, and Houston. Why do I mention these statistics? Because they show that North Carolina's rental prices are rising, and that people are moving into the state, which is helping the economy grow. It’s the perfect time to start buying up land in North Carolina, and prices couldn’t be better.