2021’s Best & Worst Places to Invest in Real Estate
Ever Wondered About Buying Real Estate Somewhere Else?
Well, there’s quite a lot of things to consider before making a decision.
Experts have noted that it’s difficult to sell houses as-is without a lot of additional costs like renovations or commissions to those grabby real estate agents. They later went in-depth as to how to make home sales easier.
So the bottom line is you need to be savvy from the start to save an extra buck or two when you make the move.
Who knows? Maybe you’ll get so good at saving a buck, you will be able to say you flipped a house or two.
But, enough about that. Buying a house is an investment, and location is everything. It can depreciate your house if shacks will be built across the road or it can keep on increasing if the standards stay up to date with some strict neighborhood committees. So where will you invest?
You need to choose a neighborhood where there’s a neverending population – because the more scarce it is to find a place in a city to rent, the higher the value of these properties will be. A big population is not enough, since the economy has to have a bright future too.
Best Places to Invest In
Orlando, Florida
Florida not only has all the above-mentioned qualities, but the weather is another contributing factor with mostly sunny days. You can enjoy a beach day outdoors instead of using those virtual reality glasses. It’s also noteworthy that if you get a house in Orlando, you will be able to make quite a few bucks when it’s the peak season for tourists. As a lot of people tend to migrate to sunnier places in the winter times, Orlando makes for a great vacation home. The unemployment rate was always quite steady at around 3%, but in the last updated report, it has increased to 6%. And their poverty rate is at 17.23%.
Frisco, Texas
This might be seen odd as many view Texas as a bit backward compared to bigger cities. But make no mistake Texas is growing. And with that growth comes property increases, which you don’t want to miss out on. Now it depends on your lifestyle, since it’s a calm place and the opposite of the hustle and bustle of city life. On the upside, it’s only a 20-30 minute drive to Dallas. The unemployment rate is similar to Orlando at 5%. Their poverty rate is substantially lower than the other places mentioned in this article at an attractive 3.64%.
Boise, Idaho
The demand for homes is rising and therefore Boise has the strongest real estate market, country-wide. Price predictions in Boise look quite well because the appreciation rate is the highest so far nationwide which means you will be able to make a profit quicker than in other cities. The unemployment rate is low at 3.4% and the poverty rate is higher at 13.2%.
Worst Places to Invest In
St. Louis, Missouri
Their population is rapidly declining. Compared to other states home values are increasing slower. Their unemployment rate is also at 5%. Their poverty rate is 21.83%.
San Francisco, California
Now as this might come as a shock to some of you, hear me out. Yes, the employment rate and population growth are flourishing, and yes there are many local and even international tourists that would love a weekend in this upbeat city.
Because of these factors, the market in this area for homeowners is oversaturated which means the prices are ridiculously high at $1 million or more, so I’m not saying it’s a bad investment, but it’s certainly too costly if you’re a bit of a penny pincher. So, San Francisco is the exception to the rule that flourishing places will be a good investment. The last documented poverty rate was at 10%, whereas the unemployment rate stands at 2.3%.
Conclusion
As you can see, there are a few good investment opportunities in the real estate market. It is important to do your research and make sure that the area you are looking at has a healthy economy and thriving population. Areas such as Orlando and Frisco offer good opportunities, but be careful when looking at areas such as St. Louis.