Been thinking of buying a new home? Now is not the time to hesitate. The real estate bubble has burst leaving some with misfortune but creating great opportunities for others. |
Now is the time to invest in residential real estate, whether you're on the market for your first home or are considering expanding your investment portfolio. If you know what to look for, you can find some fantastic deals, get great value for your money, or just find your dream home.
A couple of years ago, it wasn't unusual for bidding wars to begin on homes in disrepair or located in less-than-desirable areas. Buying a dream home was nearly impossible if you had budget limitations. Now, you'll not only have a much larger selection, but you won't feel the pinch to immediately make a high offer.
Sellers aren't willing to wait around for the highest bidder and are ready to make big negotiations. That means you'll have the time and opportunity to find exactly what you want with minimal compromise. If one seller isn’t willing to back down on a price, give it a few weeks and you might even find something better for less.
Another reason why now is the time to buy is to take advantage of potential investment opportunities. Investing in real estate is more secure than the unpredictable stock market and spreading your investments in different areas will give you more financial stability.
If you’ve ever considered buying residential real estate to rent out for extra income, it would be wise to take the plunge soon. Few people are buying property, which means that there is a much higher demand for rental units.
The value of a home or apartment building in a great location will continue to rise (so will the rent rates). Whether or not you end up keeping the property, you're assured a reasonable profit and the peace of mind that all of your money isn't tied to more risky stocks.
Since sellers are finding it difficult to move their property, one way they have been luring in buyers is through expensive renovations. Older houses are getting a modern upgrade in order to compete with new buildings. This raises the value and appeal.
Beautiful historical homes are being restored and have added modern touches such as stainless steel kitchen appliances, preserving the charm while being move-in-ready. If you're looking for an even better bargain, buying a fixer-upper and renovating it to your taste can save you thousands; however, poor decisions and a lack of renovation experience can also cost you more than you'll save.
The price of current real estate is no longer artificially inflated, which means most properties will rise in value over time, and the financial risks are considerably lower. But the deals won't last forever. Starting your search for a residential property early can help ensure that you find what you want. If you're not ready to begin negotiations, consider taking the aid of a realtor to help you with the difficult decisions.
Looking for a dream home in Western North Carolina? Hendersonville real estate firm will help you save time spent browsing through classified ads, driving all over town, and viewing dozens of unsuitable properties. Find a professional realtor at www.preferredrealestatecenter.com/.
Related Articles -
hendersonville real estate, hendersonville north carolina real estate, real estate asheville nc,