Tuesday, June 8, 2010

Investing in Real Estate Now is a Good Idea Because…

The country is in a recession, and that makes everyone a bit uneasy when it comes to taking risks. However, the best investment to make for your future is buying real estate, and the best time to do that is during a recession! Right now, real estate properties are more affordable, allowing more people spanning income levels to find a nice home for a cheaper price. In addition to that, there are more homes to choose from at this time. For those who want an affordable investment opportunity, the numbers of properties to choose from at the moment is high and this means there are more homes available at a cheaper price.
This is a buyer’s market. It is said in basic economic classes that it is good to do the opposite of what the majority of people are doing. Right now there are a lot of people selling homes but there aren’t very many people buying homes. This gives you the upper hand in negotiating price and the bidding competition is basically non-existent. More advice from Economics 101, is that investing in real estate allows you to have full control over your asset, more control than any other investment or asset would have. Fixing up a home can increase its value by a little bit, but adding another room or a porch can add $50,000 to your home’s value! This is also a low risk investment because the returns have an incredibly high probability of being good. People will make money when they sell their home.

Taxes can be a headache for anyone, but owning property can be tax write off! The government wants to encourage people to own property, and you can find many ways to turn owning real estate into a business that will provide you tax cuts. Playing the stock market could mean that a stock owned will double in value, however a person only benefits from this by selling. With real estate, when a property doubles in value, you can just refinance and still keep the property! The money made when refinancing is tax free and goes straight to your wallet.

But let’s forget all this talk about economics and investing and returns. Truth be told, while investing in real estate is smart to do from a economic standpoint, it is also smart to do emotionally. The peace of mind that comes with owning a home within your means is incomparable to anything else. When renting a home or apartment, you are always answering to someone else about every little thing. Owning property means improvements and repairs are in your control, paint and decorating is up to you, No increase in rent, no surprise visits from a landlord, just a nice space that offers privacy and personality. Also, while it is important to have a good retirement fund, some overlook one of the greatest assets to add to retirement: a home. Imagine a house where your family can live, grow up in, move out, and all the memories that will be associated with it. In the end, you will have your retirement fund, as well as the family home which will be a constant reminder of happy memories.

Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market? Check out www.minthillrealty.com

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Charlotte North Carolina Real Estate Professional. Visit our site www.RichFerretti.com