We get asked whether buying property is truly a good investment. Over and over, our answer is yes. Owning property is a great investment, especially in the Raleigh and Cary markets. It may not be the quickest way to get cash in your pocket (although it can be for some), but there’s a reason why the millionaires of the world buy multiple properties instead of renting. Buying properties can be a great investment.
Here are some reasons why we think owning property is a good investment:
- Growing investment: In most cases, property value will grow through the years. That translates to money in the owner’s pocket. Even if it’s not the best investment, chances are that with time, the property will be a profitable investment.
- Better budgeting: When people purchase a home, they typically know their mortgage payment will stay the same if they choose a fixed interest rate for their loan. This means that for the time they own the property, that amount will not change unless they initiate the changes. Renting, on the other hand, is less stable. Rent can go up at any time (it usually does every year), extra costs may be added to a lease renewal or the owner might decide to sell the home. This leaves renters with a higher cost or scrambling for a new home.
- Flexibility: Those looking for real estate strictly as investment find the flexibility appealing. A flip home can be rented if it’s a bad seller’s market, while a rental investment home can be sold when the time is right. An owner can leverage a higher property value for a down payment on their next home. Compared to investing in stocks, where the investor is at the mercy of the market, investing in property gives them more control of their assets.
If you’re ready to purchase a property, let us know! Raleigh Cary Realty is ready to make your home buying dreams come true!