Investing in property is a game. Get it right and you can enjoy an early retirement that consists of country clubs and golf tournaments. Get it wrong, though, and your dreams can slip away real fast. That is why every real estate investor researches certain variables before their money where their mouth is, and at the top of that list is location. Let’s look at four cities to invest in right now.
Where you invest is about as important as it comes. It is the key to a smart investment. That means knowing the housing markets, knowing the rise and decline, seeing what investment and improvements are going into a place, as well as what population, jobs and schools are all saying.
To help you with this, we have come up with our list of the most solid markets, the kind you should consider because the growth rate between now and 2020 looks great.
What makes Dallas such a great place to consider is the fact that prices are expected to grow here the most. We mean out of anywhere in the country. The foundations of this have a lot to do with the fact house prices here are considered to be undervalued when compared to historic averages, as well as income. Not only that, but the population is predicted to grow by almost 7% in the next three years, which has already fueled the appreciation by 9% in the past twelve months alone. It’s looking good for Dallas.
While we were able to narrow it down to just one city in Texas, that isn’t so easy with Florida because there are two standout performers; Jacksonville and Orlando. Not only that, but West Palm Beach is also a hot contender, accordingly to Keller Williams St Pete Realty. Annual home prices here have grown between 7.8% and 11% of the past year, and predictions aren’t putting out any warnings either. The growing economy is without a doubt one of the biggest variables in this equation, and with a good local economy comes good real estate investments. That isn’t all because homes also seemed to be hugely undervalued. For instance, Jacksonville is currently undervalued by 8.2%. That means a healthy investment can be made.
When it comes to the biggest jump in house prices, last year was an exceptionally awesome year for the homeowners of Seattle who saw the valuation of their homes jump by 12% on average. The reason for this is simple; builders aren’t able to keep up with the demand. That always makes for a good investment because not only do you have an appreciation, you have a great rental market on which to capitalize. This is also helped by the sharp incline in jobs and population, which adds to the demand, and demand is good.
Salt Lake City, Utah
While this is in no way as prolific as the places we’ve mentioned, especially Florida, it is still a tidy location in which to consider spending your money. The annual price of a home has risen by 8%, job growth is nearing 3.5% and the population is also increasing slowly but surely. Where it lacks compared to its rivals is the lack of undervalued properties, meaning a steal isn’t so easy to come by. However, we predict this will happen by 2020, easy.