It’s a buyers’ market in real estate since the housing bubble burst several years ago. With real estate prices at record lows, now is the best time to purchase a home or property before prices begin to increase and stabilize again.
For the record, now is not the time to purchase homes and expect to flip them for an immediate profit. Those days are long gone since the housing market crashed. In fact, it’s considered one of the reasons for the crash as it caused prices to inflate rapidly and artificially.
However, if you’re looking for a long-term investment, consider real estate as a viable option.
Families who wanted to purchase homes before the so-called “housing crisis” found homes to be well outside of their price range. Today, those families can afford to buy their dream homes in the right neighborhood and school district at a small fraction of what it would’ve cost them only 5 years ago.
Additionally, interest rates on mortgages are extremely low. Most real estate professionals would agree that now is the time to buy!
For those who aren’t looking for a home to live in, real estate is still a great investment. Purchasing a home or a piece of property with the intent to rent it out is a great opportunity to make a profit or generate a steady monthly income. With so many people starting over after selling their homes that they could no longer afford or dealing with foreclosure, rentals are
highly sought after. Having prime real estate in a popular location has the potential to bring in a lot of steady income over the long-term.
It’s not just true with homes. Office space is an amazing investment as well. With all of the new start-ups all across the country, small business owners will look to rent office space as their companies expand and they begin hiring more employees. The job market improvement will benefit your bottom line as a real estate investor.
While real estate prices, particularly in the housing market, aren’t expected to rise anytime soon, owning property that you are able to earn a little bit of money on now and then sell later when the market improves is a sound financial strategy. Additionally, making improvements such as solar power installation, will also increase value and make investors independently wealthy and financially stable for a long time to come.