With a lower interest rate when you can buy a home why would they rent?
If an investor does purchase a property in Northern Virginia most likely they won't break even with their mortgage payment to the rental income.
IS the Northern Virginia Housing market too expensive to Invest?
Most investors in the area are looking for a long term return of their investment. If you are in a market for a very short or a speculative investor you may want to reconsider your investment options. If you live and work in Northern Virginia counties of Arlington, Alexandria, Fairfax, Loudoun, or Prince William you know we have seen a very positive and strong appreciation of our real estate home values. That has been the driving force for why you want to invest in the real estate market.
Below is a snapshot of two decades of attached home value in Fairfax County in the month of May.
If you had invested in an attached home in 2000 you may have been through the roller coaster of the financial meltdown to the pandemic crisis. However, the appreciation would have been 276% in 2 decades.
Local Economic reasons:
Northern Virginia through the decades has enjoyed strong unemployment rates. We landed #AmazonHQ2 apart from all major companies in the area including Google, Microsoft, Capital One, Virginia Tech, Federal Government, and the list goes on.
With strong employment opportunities, we have attracted high income and relocating employees from around the world.
Forgot about the economic reason Northern Virginia has earned a high ranking in personal living and lifestyle rankings.
Landlords grow rich in their sleep. – John Stuart Mill
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