Now is perhaps one of the best times in history to purchase a home. Low interest rates and unparalleled affordability have created a perfect storm for qualified buyers.
So does that mean the “flipping days” are here again? Maybe and Maybe not. While there may be shrewd investors out there who have the ability to squeeze out a profit on flipping properties in this market, the margins aren’t always favorable and re-selling can be quite tough.
It is, however, an excellent time for buyers looking for a long-term home investment, especially those who want to manage a rental property. There’s a good margin between true value and current prices, for one. Rental income can be a great supplement to your current income and rental properties may offer tax advantages as well. Additionally, there’s great potential for higher rental values as rental inventory decreases under the pressure of potential buyers who can’t yet qualify for a loan.
Do you have a college graduate or newlywed child? Another great investment is the purchase of a home for someone in the family that may occupy it as a tenant until such time they can afford their own home.
If you’re curious about which neighborhoods would make the purchase of an investment property a good move, feel free to contact us today. We’d be happy to help advise you on an investment purchase - whether to flip or as a rental.