I wanted to wait until my mortgage application had been approved before I wrote this, and thanks to the guys at Accelerate Mortgage it is now something which I can freely talk about. Th topic of today is why right now is the time, if you are able to, that you should be looking to invest in real estate. Many of you maybe thinking that I am mad to suggest real estate investment given the current climate of the pandemic, but there are in fact many reasons why now is a truly opportune time for those who can, to invest in some residential property.
Here are my reasons for jumping into this investment.
Buying and selling properties can be a pain and the process is not always as quick as it should be. Given that so many around the country are going to be looking to sell their houses quickly, you will be able to get a great price and ensure that you have a very smooth process. The reality is that many financial situations have changed and this is going to result in people looking to get out quickly.
Some you may be sitting there thinking that it is far better to wait for the post-pandemic crash which so many are waiting for, and there is nothing wrong with doing so if that is your plan. My thought process is this, when the crash comes, many people will have sold already in anticipation of it, and others will face incredibly stiff competition for those bargain basement homes. Given my spending power, which is less than the likes of funds which invest in real estate, it makes more sense for me to buy now, albeit a little higher than if I wait around, and start turning that property into a rentable place to live. For me it is about getting ahead of the curve.
Resilience of the Market
If you are interested in buying real estate then do not listen to anyone who warns you that the prices may not bounce back. As long as you are patient then you are going to be absolutely fine with this investment and there is absolutely no way that they will not bounce back eventually. The real estate market, since the dawn of time, has always grown, it has survived world wars, pandemics and financial collapse, and it will survive this.
Sadly there will be a great number of people who will be moving out of bought accommodation and looking to rent instead of reinvesting and this means that you are not going to have a problem in renting out your property or properties once you have bought them.
Now is a great time to get involved in real estate investing and I would suggest that if you are able to do so, that you throw what you have at residential properties.