Pros to Purchasing Property in Lansing

Pros to Purchasing Property in Lansing

Becoming a property owner is not a small decision. Not only is it a financial investment, but a social and community investment as well. Before settling down, it is important to take into account accessibility, culture, quality of living, cost, and things to do. With these points in mind, there are many pros to purchasing property in Lansing.

Things To Do

To discover the true essence of Lansing, take the LAN150 Challenge, and experience the city through a local lens. This list highlights the most noteworthy attractions – everything from historical and cultural, to arts and theatre and recreational – and is sure to encourage any visitor to stay longer, return sooner, and even relocate.

Greater Lansing is considered Michigan’s Festival Capital due to the over fifty festivals and events hosted by the city throughout the year. Spring means music, art and food while nearly every weekend in the summer is alive with music of all genres. Autumn celebrates agricultural heritage with Mid-western charm, and winter is alive with holiday spirit.

The Capital Region is home to many historic hotels and modern museums. Greater Lansing has numerous boutiques and one-of-a-kind shops, art galleries and world-class performance venues, a thriving dynamic dining scene, and a notable collection of breweries, wineries, and distilleries. With its central location, Lansing is a convenient drive to many surrounding beaches, urban hubs, and attractions.

Quality of Living

U.S. News & World Report ranked Lansing, MI at the #41 Best Place to Live after canvasing 125 metro areas across the country. The ranking is based on quality of life, local economy, desirability, and value of living.

Cost of living in Lansing is below the national average, thanks in part to the lower cost housing market. There are many properties available for under $150,000 which means a better value than other comparable metro areas based on median household income.

The population is diverse. The region is home to many young families, recent college graduates, and retirees. An appealing reason to settle down in Lansing is the job market. Most of the workforce is employed by MSU, regional hospitals, insurance companies, and General Motors. Compared to the average of competitor metros, Lansing has a healthier job market, and in 2018 had a below-national average unemployment rate of 3.7%.

When it comes to education, Lansing has a large mix of public and private schools, and has seven high schools that have ranked on U.S. News & World Report’s Best High Schools. It is also home to two universities and several higher learning institutions.

Commuting in Lansing is painless – the average commute time is 21.2 minutes. Driving is the most popular option, however, there is a strong bus network as well as an extensive walking trail system. There are also many bike lanes in the city, though most are near the Michigan State University campus.

Ready to Invest?

Consumer confidence is on the rise in 2019 in the Greater Lansing area. Each generation – Millennial, GenX, and Boomer – has different housing needs be it first-time home owner, upgrading in size, or downsizing. Thanks to these varying needs, there is a balanced home buying cycle.

The local economy has been on a steady upswing since 2011, which has led to a strong housing market. With a healthy real estate market, mortgages are readily available at favorable rates, especially for first-time property buyers. Completing a tenant background check and necessary documentation online through software platforms makes the buying process easier than ever. These factors, along with low existing inventory levels (it is a seller’s market), are driving up sale prices, which is increasing property values and building quick equity.

With equity so easy to accrue, home buyers can easily recoup their closing costs within the first few years of purchase.

 

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