Purchasing a home in Lafayette, Louisiana, can be an excellent investment and fulfilling life choice. Here are some reasons buyers choose Lafayette.
Cost of Living
Lafayette is an affordable place to live, resting more than 10% below the national average cost of living. Housing, utilities and groceries are all more affordable than average, and there are ample job opportunities to fund your expenses.
Economic Growth
Lafayette’s economy is healthy, offering gainful employment in numerous industries. Residents earn a living working in information technology, health care, finance, hospitality, tourism and other fields. The oil and gas industry is also a prominent contributor to the local economy due to Lafayette’s proximity to the Gulf Coast. Researchers expect the job economy to continue its growth after outperforming projections in recent quarters.
Weather
The Louisiana weather is another reason to consider purchasing a home in Lafayette. The city experiences plenty of warm, sunny weather throughout the year. The lowest you’ll see the temperature drop in the winter is between 40-50 degrees Fahrenheit. Rain is fairly common, and it often comes in heavy storms, so use your sunny days to explore the outdoors. All things considered, Lafayette is warm enough to save on heat, but you’ll need to power an air conditioner for most of the year.
Activities and Entertainment
The Lafayette community offers plenty of fun activities for people of all ages. The bustling city has an incredible variety of food choices, a spirited art scene and a rich network of historical sites. People in Lafayette share their diverse cultures in ways that feed the city’s soul. You’ll find opportunities to attend festivals, concerts and other events that celebrate the characteristics that make Lafayette’s community strong.
Lafayette is also a fantastic city for outdoor exploration. A short trip outside of city lines will take you to numerous beautiful locations for hiking, boating and picnicking. Dense swamps and forests cover the land, allowing plant and animal life to thrive alongside Lafayette’s residents.
Housing Market
Beyond Lafayette’s lifestyle and professional opportunities, the area also boasts a robust housing market. Homes are affordable, with the median price hovering around $240,000. Homes often sell for roughly 99% of the list price, so you can accurately gauge your investment by browsing listings. The housing market will likely continue an upward trend, so an investment today will translate to future profit.
Home Financing in Lafayette
Assurance Financial is a mortgage banker with experience in Lafayette’s housing market. We are experts on Lafayette’s economy and housing and are active members of the local community. We can help you move forward with housing opportunities in Lafayette, so contact us online to discuss financing.
