Pay attention to these 5 things when choosing a real estate market. They will help the value of your properties grow exponentially faster.
5. A Diverse Economy
You want to invest in a location that has multiple sectors and employers. If there’s one employer or sector in your location that employs more than 20% of the population, choose another market.
4. Average Income
High paying jobs will force the value of your real estate up because where there are good jobs, people will follow AND they will buy real estate when they get there.
3. Population Growth
Is the population increasing or decreasing? Decreasing populations are bad for real estate values. You should also be aware of the average age. A location with a large population of very young or very old people will not perform very well overtime.
2. Proximity to transit
Less and less people want to have cars. They are expensive and inconvenient. Being close to a good transit system will always have a positive effect on your real estate values.
If you can find a neighbourhood that is just starting to gentrify, you will see large increases in property values…. Just be prepared to wait a few years.
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