Roanoke, VA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is Roanoke a good place to invest in real estate? ›

The Roanoke real estate market provides a good chance for long term appreciation and value growth. This is an area with a strong economy, a high quality of life for a growing population, and a reliable pool of tenants who can be counted on to pay rent and maintain properties.

Roanoke, VA housing is 23% cheaper than the U.S average, while utilities are about 16% pricier. When it comes to basic necessities such as food and clothing, groceries are around 4% less in Roanoke, VA than in the rest of the country, while clothing costs around 4% less .

While your capital gains on the sale of your residence are often tax free (see above), when you sell an investment property and its sale produces a profit, you will be expected to pay capital gains taxes on the proceeds.

Generally in Virginia the seller pays. When the real estate agent and the seller sit down at the table and they discuss a listing agreement, they will also discuss the real estate fees that will be paid both to the buyer brokerage as well as to the listing brokerage.

If you're after the best sales price, the best month to sell in Virginia is June when houses sell for 5.30% more than average. If your priority is speed, April is the best time to sell because homes tend to sell 15 days faster than average.

The Roanoke and New River Valley regions each had their most successful economic development year in recent history, according to John Hull, executive director of the Roanoke Regional Partnership. That's thanks to $387 million worth of economic investments announced in 2023, potentially creating thousands of jobs.

With its extensive array of desirable locations, thriving industries, some of the top schools in the nation, and diverse population, Virginia Beach (and the greater Hampton Roads area) is uniquely primed for residential real estate investments.

Commercial properties are considered one of the best types of real estate investments because of their potential for higher cash flow. If you decide to invest in a commercial property, you could enjoy these attractive benefits: Higher-income potential.

Is Virginia a good state for real estate? ›

From the rolling Blue Ridge Mountains to the expansive Chesapeake Bay, the state not only offers a stable real estate investment but also a high quality of life. Here are ten compelling reasons why owning a home in Virginia could be one of the best decisions you'll ever make.