What to Look for in a Real Estate Location
If you are thinking about investing in real estate, you’ll need to start by hunting for the right location. Of course, you could just pick a place that you like or that you think will be full of potential and go from there. But you’ll want to make sure that you don’t rush into buying a piece of property. As such, it’s best to start by understanding the factors that make for a good real estate location.
All of the factors above are important for your own reasons, and they will all play a role in your decision making. However, it’s important to note that location is considered to be the most important factor at least as it pertains to selling the house later. You want to be sure that you choose a location that’s convenient for people to access.
If your location is convenient, people will be able to get to your house whether they are taking transit or have a vehicle of their own. Also, you want to be sure that people can easily find your house, so you may also want to put some thought into choosing a street address and neighborhood that sounds appealing to people – based on your knowledge of common psychology.
Local Realtors will have more information on what makes a good real estate location, and you can learn from their experience.
For Best U.S. Housing Markets for Real Estate Investing
The Top 7 Cities for Real Estate Investors in 2019
Thanks to some excellent returns on investment in recent years, real estate investing seems to be very lucrative and well worth it. But is it the best investment for you? There are a lot of different factors to take into account, and there is an overall trust that needs to be involved when buying a house. Then, again, there are some things you can do to make up for unexpected costs and other setbacks. So how do you find a good real estate investment? Which area will give you the best return on your investment?
Investing in real estate may be a good option for you, but finding the right area and making the right purchasing decisions is extremely important. If you find the right type of real estate, and you make a good purchase, you can expect returns on investment of at least 15% in most places.
If you are interested in buying a home that you can put rent up on, a condo or a duplex may be better options. Condos are the more affordable option and a way to dip your toes into the market without investing a lot upfront.
Condos are a good way for people to try out real estate for the first time. They could be the perfect option for you if you are anxious about buying a single family residence, or you may want to buy a condominium as a vacation home.
Other Great Cities for Real Estate Investments
While Southern California is said to be the place to be for real estate investors, some other areas that are also worth checking out are Phoenix, Atlanta, Seattle and Portland. These cities have been seeing annual real estate market growth rates of around five percent to ten percent long before the mortgage crisis of the late 2000s. This positive trend will probably continue.
On the flip side, some real estate experts also suggest that investors steer clear of New York City, San Francisco and Chicago because of their vulnerability to real estate market fluctuations. So if you want a great investment, check out Phoenix, Seattle or Portland.