If you’re contemplating investing in real estate, this is a wise decision that could pay off in dividends for years to come. Before you make the decision to invest in any kind of real estate, it’s important to think carefully about that old real estate adage, “location location location”. Deciding the right location to focus your real estate investment efforts can have a significant impact on your feelings about real estate investment overall as well as your success. There are several different places you should certainly consider investing in the United States if you’re relatively new to the game.
Whether you’ve already got a few investment properties or this will be your first time, the fact that so many people love visiting and living in Florida makes it a great place to identify good properties. There are other areas around the country that also should make your shortlist, though, but ensure that you’ll be close enough to oversee any upgrades on the property in order to make your investment property a true success.
People are moving to Tampa Florida at a rate higher than the national average. Employment also has expanded by 2.6% in recent years across Tampa. This makes it an excellent place to consider moving to. Average home prices are also relatively high in Florida coming in at around $193,000. It’s important to know as well that Florida is a hotspot for real estate investment, where home prices have been accelerating from between 9% and 14% across all Florida cities. Florida attracts many second home buyers, investors and retirees.
Grand Rapids Michigan
Much like Tampa, employment in the Grand Rapids area expanded by 3.9% and the population growth rate held fairly steady at 3.1% per year, still higher than the national average.
Orlando is home to a great deal of tourism and second properties, but it’s boon as a cultural and entertainment center draws many different people. Investing in real estate in this location gives you peace of mind that there is definitely the market there to cash in on.
The homes in San Antonio average $201,000, and despite the fact that many other areas of the country were heavily impacted by the most recent recession, the Texas housing recession was relatively shallow and it bounced back with tremendous force shortly after.
Another Texas city makes this list because of the Lone Star State’s draw for new residents in general. The three-year growth rate for people moving to Dallas is 6.2%. Home prices in Dallas also averaged $211,000 and the diversified economy of Dallas makes it a hotbed for potential residents.
As there are a couple of other Florida cities already prominent on this list, it likely comes as no surprise that Boca Raton is a great place to consider investing in real estate. Boca Raton real estate attracts many people moving into luxury properties and second homes and the various amenities of the area provide an array of cultural offerings and outdoor activities.
Real estate is beginning to provide many opportunities to invest in recent years and these are just some of the cities out there that are a great to invest in.