On the hunt for the current homes for sale in Virginia Beach under $200 000? You have come to the right place because here we have a list of them ready to go for you. As professional real estate agents in Virginia Beach, we love working with investors. And know what to look for when touring homes for sale in the Virginia Beach area.
Homes for sale in Virginia Beach under $200 000
Table of Contents
Current list of homes for sale in Virginia Beach under 200 000
What You Can Get for $200K in Virginia Beach
In Virginia Beach, $200K can offer a variety of housing options, although it’s important to note that the type and size of the home will largely depend on its location within Virginia Beach and the current market conditions. Here are some general examples of what you might find:
Condominiums/Apartments:
When searching for homes for sale in Virginia Beach under $200 000, you’re likely to find a number of condos or apartments, especially in multi-family buildings. These units typically feature 1-2 bedrooms and 1-2 bathrooms, and they often come with community amenities like a pool, fitness center, or clubhouse if you look in the golf communities in Virginia Beach. You can also find condos for sale in Virginia Beach under $100 000 if you are looking for a fixer-upper.
Townhouses:
In some areas, you might also find townhouses within your budget. These homes usually offer more space than condos and may come with additional features like a yard and garage. You may get lucky and snag
Single-Family Homes:
While less common at this price point, it’s still possible to find single-family homes. These are likely to be older homes that may require some renovation or are located further from the city center or the homes for sale in North End Virginia Beach.
Manufactured Homes:
Manufactured homes for sale in Virginia Beach Virginia, also known as mobile homes, can offer substantial living space at a lower cost. Many of these homes for sale in Virginia Beach under $200 000are located in designated communities with additional amenities.
Remember, real estate prices can fluctuate based on a variety of factors including market trends, the condition of the property, and the desirability of the location. It’s always advisable to work with Griffin Realty who can guide you through the home-buying process and provide detailed information about what you can expect to find within your budget.
Ready to Purchase one of the homes for sale in Virginia Beach Under $200 000?
Advantages of Investing in Virginia Beach Real Estate
Investing in real estate in Virginia Beach, Virginia, presents a number of potential advantages. Here are some key benefits that attract investors:
1. Strong Housing Market:
Virginia Beach has a competitive housing market. The city has seen consistent growth in home values over the years, making it a great prospect for both short-term and long-term investments. Check out one of the best neighborhoods, the homes for sale in Bellamy Woods.
2. Rental Demand:
Being a popular tourist destination with its beautiful beaches, state parks, and vibrant nightlife, Virginia Beach experiences high demand for rental properties, especially during the summer months. This can lead to a steady income stream for investors owning rental properties. There are also universities in nearby Norfolk VA that also have a high demand for rental properties.
3. Quality of Life:
With its excellent quality of life, including beautiful beaches, like the homes for sale in Sandbridge Beach, low crime rates, and plenty of recreational amenities, Virginia Beach attracts a steady flow of new residents. This increases the demand for housing and can contribute to property value appreciation.
4. Diverse Real Estate Options:
The real estate market in Virginia Beach is diverse, offering a wide range of properties, from single-family homes for sale in Virginia Beach under $100 000 and condos to luxury beachfront properties. This gives investors numerous options to choose from based on their budget and investment goals.
5. Economic Stability:
Virginia Beach boasts a stable economy with low unemployment rates. The city is home to various industries including military bases, tourism, small businesses, and more. This economic stability makes Virginia Beach a reliable place for real estate investment.
6. Potential for Cash Flow and Appreciation:
Depending on the location and type of property, Virginia Beach real estate can provide investors with positive cash flow from rental income. Additionally, over time, properties may appreciate in value, leading to a potential profit upon sale.
While these advantages make Virginia Beach an attractive market for real estate investment, it’s always recommended to do thorough research or consult with a local real estate professional before making an investment decision.
Tips for Finding a Home Under $200K
Finding a home under $200K in Virginia Beach can be a challenge due to the city’s competitive real estate market. However, with some strategic planning and patience, it’s not impossible. Here are some tips to help you in your search:
1. Determine Your Needs:
Before starting your search, define what you’re looking for in a home. How many bedrooms do you need? Would you prefer a single-family home or a condo? Knowing your needs will help narrow your search and make the process more efficient. Check out the Virginia MLS for a more in-depth look at the market.
2. Work with a Local Real Estate Agent:
A local agent at Griffin Realty has in-depth knowledge of the Virginia Beach market and may know about listings before they hit the market. They can also guide you through the buying process, helping negotiate the best possible price.
3. Explore Different Neighborhoods:
Some neighborhoods in Virginia Beach may offer more affordable options than others. Be open to exploring different areas of the city, but also consider factors like commute times, school districts, and proximity to amenities. Check out the homes for sale in Woodbridge Pointe Virginia Beach, it is one of the nicest VB neighborhoods.
4. Consider Older Homes or Fixer-Uppers:
Homes that require some updates or repairs often have lower price tags. If you’re open to doing some work on the house, this could be a good way to find a home within your budget. You may even be able to find some houses for sale in Virginia Beach under 100 000.
5. Be Patient and Act Fast:
In a competitive market, patience is key. It might take time to find the right home within your budget. However, once you do find a potential match, be prepared to act quickly as homes in this price range can sell fast.
6. Look at Foreclosures or Short Sales:
While these situations can be more complex, foreclosures or short sales can sometimes offer homes at lower prices. You can find foreclosure and short sales all around the city, even in the homes for sale in Cypress Point, a sought-after golf community.
7. Get Pre-Approved for a Mortgage:
Having a mortgage pre-approval can give you a leg up when making an offer, showing sellers that you’re serious and financially capable of purchasing the home.
Remember, the most important thing is to stay within your budget and find a Virginia Beach home that suits your needs.
Understanding the Real Estate Market in Virginia Beach
Virginia Beach, located on the southeastern coast of Virginia, is known for its miles of sandy beaches, a bustling boardwalk, and vibrant nightlife. The Virginia Beach real estate market is equally as dynamic, offering a variety of opportunities for home buyers, sellers, and investors.
Real Estate Market Trends:
As of mid-2023, the Virginia Beach housing market has been very competitive, with an average house price of around $375K, showing an increase of 7.1% from the last year. The market trends indicate that home values and listing prices are on the rise.
Inventory and Sales in Virginia Beach :
There has been a slight increase in the number of listings in Virginia Beach, with over 1,800 homes on the market as of June 2023. This suggests that buyers have a reasonable selection of properties to choose from. However, given the competitive nature of the market, properties do not stay listed for long.
Investment Opportunities:
Virginia Beach is considered an ideal city for purchasing investment properties, including both short-term and long-term rentals. With its appeal as a tourist destination and a growing local population, the demand for rental properties is high.
Future Predictions:
Analysts predict a continued upward trend for the Virginia Beach real estate market. While exact numbers can’t be guaranteed, the general consensus is that the median price of an average home for sale in Virginia Beach va, which was around $285K in early July 2023, is expected to increase in the long term.
Final Thoughts:
Understanding the real estate market in Virginia Beach involves keeping an eye on current trends, staying updated with market predictions, and understanding the local economy and demographics. Whether you’re a first-time homebuyer, a seasoned investor, or someone looking to sell, having a grasp on the local market dynamics can help you make informed decisions.
Please note that while this information provides a general overview of the Virginia Beach real estate market as of mid-2023, it’s always recommended to consult with us local real estate professionals for the most accurate and up-to-date information.
How Griffin Realty Can Help with Your Search
Griffin Realty, a trusted real estate company in Virginia Beach, can provide invaluable assistance with your home search. Here’s how they can help:
1. Local Market Knowledge:
Griffin Realty has been serving the Hampton Roads area of Virginia for many years. Their deep knowledge of the local market can guide you to neighborhoods and homes that fit your criteria and budget.
2. Experienced Agents:
Their real estate agents, like Brinda Griffin, have a strong background in helping buyers find their dream property. They are adept at understanding your needs and can customize your search accordingly.
3. Comprehensive Services:
From initial consultation to final closing, Griffin Realty walks you through every step of the process. They can assist with showings, contracts, negotiations, and more, ensuring a smooth and successful transaction.
4. Investor Support:
If you’re looking to invest in Virginia Beach real estate, Griffin Realty has experience in supporting real estate investors, providing valuable insights and strategies.
5. Seller Assistance:
Not only do we help buyers, but we also support sellers in getting their houses sold in a timely manner. They use effective marketing strategies and provide guidance on staging and pricing your home for sale.
Remember, while online websites and apps can make searching for homes easier, having a dedicated real estate professional by your side can make all the difference in your home-buying or selling experience. Let’s Chat!
Where is the best place to live in Virginia Beach?
The best place to live in Virginia Beach is by one of the many water sources. If that’s not up preference, there are so many amazing neighborhoods in Virginia Beach. If you like living in the city, then the town center may be the best option for you. If you want wide open spaces, check out the Pungo area!
Are home prices dropping in Virginia Beach?
No, home prices are not dropping in Virginia Beach. The average price of a home for sale in Virginia Beach has raised over 5% since 2022. Virginia Beach is always a safe place to purchase a new home.
Is it affordable to live in Virginia Beach?
Yes, it is affordable to live in Virginia Beach compared to other coastal cities on the East Coast. The average price of a home is $345,000 and can be as low as $200 000 in some Virginia Beach areas.
How much is housing in Virginia Beach?
To buy a house in Virginia Beach the average price is around $350,000. The average price to rent a one-bedroom apartment is $1,500. Of course, you can find cheaper and more luxurious options, it all depends on your budget and what kind of housing in Virginia Beach you are looking for.