Military Homes in Norfolk
The City of Norfolk is one of the most vibrant city's in Hampton Roads, and attracts military families stationed at the Naval Operations Base (NOB) in Norfolk as well as military families stationed throughout the various bases in Hampton Roads. Norfolk is home to nearly 234,000 residents, many of them working with or for the military in a city that has nearly 300 years of naval heritage.
For military families stationed in and around Norfolk, buying a home may be the right way to invest your Basic Allowance for Housing (BAH). The Hampton Roads area has a strong rental market but with current home prices in some cases, the amount of money a family spends on rent can be nearly the same as the amount spent on a mortgage. The current vacancy rate of homes on the market is one of the highest in the Hampton Roads area and Norfolk currently has many affordable and desirable homes on the market. In 2009 Norfolk has had an average sales price of $174,804 with the median sales price at $165,750. With home prices in this range the use of your BAH in the Norfolk real estate market makes sense as a way of securing the benefits of homeownership for your family.
The BAH that military families receive offers a great way to live off base in Norfolk as either a renter or a homeowner. Not only will you become more connected with the great community but have the opportunity to create an investment for you and your family.
Norfolk is not only an ideal location to be stationed due to its location with entertainment and proximity to the ocean, but also offers a great community to invest in home ownership and raise a family. Within Norfolk there are more than 120 different neighborhoods, each neighborhood has its own character that has attracted residents, and has drawn many military family's to stay and return to the city. The housing within Norfolk is comprised of charming starter homes to historic residences; the downtown is home to lofts and town homes as well as brand new developments along the Chesapeake Bay. Many of the older neighborhoods within Norfolk have been restored and redeveloped and have kept their charm and character which still attracts residents to their communities.
Along with the historic neighborhoods and homes there are multiple new developments in Norfolk that may be of interest to military families in the Hampton Roads area.
Set in the Oceanview section of Norfolk, this beachfront community is set in a location that was once an ideal tourist destination. The city is currently under redevelopment in the area and the community of East Beach, is an exciting opportunity to own a new home in this upcoming community.
Shorewood Shores is the ideal choice for families who love the water lifestyle. These waterfront single-family homes are along the Elizabeth River and are in an exclusive upscale new development. For military families looking for a first-time homebuyer opportunity or a great space to call home downtown there are a number of town home and condominium communities including these exciting new developments that may be interest in searching for that ideal home.
The Landings is a community of town homes and condominiums located near Old Dominion University./p>
Granby Tower is located in an urban section of the city and sits 31 stories tall. The condominiums and town homes at Granby Tower offer extensive services and amenities to residents.
The Rotunda in downtown Norfolk is a redeveloped circular building converted into some of the most distinct condominiums and studios in the city. The city offers many amenities to go with it's spectacular city views.
The Row at Ghent
The Row at Ghent offers one and two bedroom homes in one of the most historic communities in the city of Norfolk. These homes offer close proximity to downtown within their own distinct neighborhood.
St. Paul's Place Condominiums
St. Paul's Place Condominiums offer unique lofts and flats in downtown Norfolk. The Condominiums neighbor the MacArthur Center and are ideal for residents looking to experience urban life.
Spectrum Condominiums at Willoughby Point
The Spectrum Condominiums at Willoughby Point offer resort style living along the harbor in downtown Norfolk.