Population figures prove that people continue to want to live in locations which have much higher than average home prices, making it more challenging for many to buy a home where they choose to be. People have various reasons for choosing not to buy in those situations.
Some people choose not to buy at current higher prices because they expect prices to drop at some point in time to make buying a house more affordable (or realistic) to potential buyers. If they "buy high" they could be stuck a few years from now when considering selling. Other people don't have what it takes to get a down payment done at higher prices.
If you own one or more "older" properties, especially with plenty of equity, this figures to be a great time to rent them. Based on home prices, you could be able to command a much higher rent rate than in previous years and ride the "increased profit" wave for as long as you can.
The research in the below linked article shows ideal income levels by state when it comes to buying a home. That info could be a big help when it comes to planning rental properties. People that are "waiting on the market" could make ideal tenants. Show them how you are saving them the down payment and allowing them to live where they would like.
It is not always only about the property. Offer the benefits and the opportunity. Let's work together for mutual success!
https://www.livenowfox.com/news/how-much-you-need-afford-home-us
Posts
No comments:
Post a Comment