Because now is the time to put your thinking cap on and do so.
In the Tri-City Herald today there was written confirmation regarding rumors we’ve been hearing for a few months now. There are hardly any apartments available to rent. Occupancy rates are extremely high, and in one apartment complex, they’re even renting out the model/display apartments they formerly used to show people what it was like inside.
Couple the already low vacany rates with the influx of people we’re due to have because of the incoming stimulus money, and you’ve got a situation just perfect for an investor. Not everyone buys a house right away. Sometimes people like to settle in for six months or so, get a feel for the area, and then buy a house. Those people need to live somewhere while they’re deciding on their next move, and guess what? If they have a large family and a friendly dog, and a cat or two, then how likely is an apartment going to take them? Especially if they have other people without pets lined up to rent already?
That’s where you and your property ownership dreams comes in. There is no better time to buy investment housing in the Tri-Cities than right now. Interest rates are low, rental housing is in demand, and we continue to experience steady increases in value in the Tri-Cities real estate market, so eventual resale could provide you with a profit.
If you do decide to take the leap, try to plunge before summer. Many agents and brokers agree that by the second half of the year, we might be in a seller’s market. And you want to buy before then.