After the housing bubble burst in 2008, many were left holding onto properties that they could not sell or maintain, and the housing situation appeared grim for a while. We have been seeing some of the effects of this in the increased rental prices of properties in places like New York and San Francisco. All over, there has been concern about how we will bounce back from the dire state of the housing market circa 2008.
Seven years down the line, most people who know about investing in rental property will tell you that things are looking up. The pent-up demand for good housing, combined with a growing economy and competitive mortgage rates, will keep housing on an upward trajectory through 2015. Of these houses on the market, 1.5 million each year will be newly constructed just to keep up with population growth and demand. But given that the hyper-gentrification of urban areas makes it hard to break into that market, what’s the key to how to determine a good rental property? Choosing a real estate agent that can answer these questions for you is one way of finding out.
One suggestion that Realtors in Outer Banks might give you, with regards to investing in rental property, is to invest in undeveloped areas. Take, for example, the bridge project going on that will connect Highway 158 to Corolla. The area around this bridge is not highly developed as of yet, but once the bridge enables more commuter and tourist traffic, the surrounding area will suddenly become much more livable and appealing. What better place to be investing in rental property than in an area that is about to grow immensely in infrastructure and livability?
Finding a good real estate agent is necessary to find good houses for sale that you can then use as rental homes. Write a list of questions to ask real estate agent before you go in. Talk to a qualified expert today to profit from investing in luxury homes.