There is no better time to build property than now. Interest rates are lower than they’ve been in a long time. After many months of working from home, homeowners may be looking to upgrade their living situations and find something that works better for them and their families.
Alabama is a dynamic state that is attracting people looking for warmer weather and the Southern lifestyle. With beautiful beaches and growing cities, there are many great places you can choose to build properties. Below are a few of the areas that are seeing growth and a demand for new housing.
Baldwin County is home to Alabama’s beaches and is a tourist destination year-round. Whether you are looking to build residential homes or short-term rental properties, there should be no lack of demand. Four small cities are seeing big growth. They are Fairhope, Foley, Gulf Shores and Summerdale. Baldwin County is within commuting distance of both Mobile and Pensacola, Florida.
Residents are able to work in either of those cities and still get the benefits of beach living. If you do decide to build here, don’t forget to include cool pool designs Mobile in your building plans. Buyers and visitors expect them.
Huntsville is a moderately sized city located in the northern part of Alabama. Formerly a textile manufacturing center, in the 20th century it became home to NASA’s Marshall Space Flight Center and the United States Army Aviation and Missile Command. These two employers attract well-paid, educated workers. As a result, Huntsville is consistently on the lists of Alabama cities with high economic growth. If you decide to build properties here, you’ll find that demand is good and that potential buyers have the income to pay for upgrades and higher quality homes.
Pike Road, a small town in Montgomery County, is the fastest growing city in Alabama. Over the past ten years, it has seen 88% population growth, from 5,400 in 2010 to more than 10,000 residents in 2020. This is astounding considering that the town was only incorporated in 1997 with a population of 250. What has spurred this growth? Pike Road is part of the Montgomery metropolitan area. Montgomery is the capital of Alabama and is a large economic center, with a wide range of jobs and activities. Residents of Pike Road can take advantage of the proximity to Montgomery while enjoying some of the things that have been built locally, like shopping centers and supermarkets. The growth doesn’t seem to be stopping and there are great opportunities for property builders here.
Shelby County is another fast-growing county in Central Alabama. It is part of the Birmingham-Hoover metropolitan area and the suburbs are where most of the growth has been. Chelsea, a suburb of Birmingham, has seen over 39% growth since 2010. This has added around 4,000 people to the community. It has a relatively young population with a lot of families who will be looking for new homes as they grow.
Some southern states have lost population over the past decade, but Alabama is not one of them. Over the past ten years, Alabama’s growth has ranked 11th out of 17 in the states that make up the South. This modest, but promising population increase can only get better as more housing is built to attract new residents. The sun and beaches of the Gulf Shore are sure to attract residents as more baby boomers are set to retire and metropolitan locations like Birmingham, Huntsville, Mobile and Montgomery will always be a sure bet for property builders.
2021 will be the year of the builder, as people feel more comfortable leaving their homes and finding new ones. As more companies go to permanent remote workers, perhaps more people will choose Alabama for the low cost of living, friendly people, good food and nice weather. Get set for a lot of business in the coming years.