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Investment Real Estate >Location And Value
One of the most important factors that affect the value of property is obviously location. Wise investment philosophy suggests that you invest in a sound property in a more modest area that will increase in value in the future. Buying into an area that is being gentrified, or that is otherwise coming back, is one way to do this.
Timing is everything, however! Most investors don't want to risk too much by being a pioneer, but want to get involved early enough so that there is still considerable room for appreciation in value. Being a pioneer is fine if you are a risk-taker with a lot of patience and cash is not the primary issue. Otherwise, it is safer to buy into an area after the restoration trend is unmistakably established.
Neighborhoods that are ripe for restoration have some common characteristics. They are next to a prestigious area or in a good walk-to-work location and have houses that are basically in good condition or "fixer-uppers" with realistic price tags.
Elaine Sawyer and Jim Fitzgerald RE/MAX Advantage 100 Cummings Center, Suite 104F Beverly, MA 01915 Phone: 978-927-1087 Phone: 978-927-2147 Fax: 978-882-4037 Email: elaineandjim@NUMBER1EXPERT.com
As partners in business and life, Elaine and Jim share a strong work ethic and dedication to serving their clients needs with the care and attention to detail they deserve. Always available and keeping you up to date on the latest developments of your transaction.
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