It can be hard to know whether or not this is the time to buy an investment home,especially if you are considering a family home. It’s true that last year, a large amount of investors took over the available properties due to the low costs and rates. But there are still plenty of homes to be had!
Whether you’re looking to get into a first home that you’ll live in for a few years, or simply buy a fixer-upper that you can rent out right away, there are still plenty of cities where your money is a fairly safe bet.
“Fort Worth-Arlington, Tex., and Dallas-Plano-Irving, Tex., top the list of our Best Buy Cities, at No. 1 and No. 2, respectively. Both cities offer homes that would be within reach for middle-class Americans, at $168,383 in Fort Worth-Arlington and $180,645 in greater Dallas. Prices in greater Fort Worth are considered 20% below their actual value, according to Local Market Monitor. Homes in the greater Dallas region are 12% down, so less off, but they are expected to rise more–29%–over the next three years.
For buyers who intend to rent out their homes, the populations in these cities are growing at a healthy clip: from 2009 to 2012, at 4.9% in Fort Worth and 6.1% in Dallas. At that rate, Dallas is tied for the fastest-growing city on the Best Buy Cities list. It’s ranked fifth in terms of job growth, at 3% as of the latest Bureau of Labor Statistics stats. Driving the demand are companies like Dallas’s One Technologies, LP, an online credit monitoring marketing service that was ranked the fastest-growing private company in the area by the Dallas Business Journal.
“The total eventual returns may be higher in markets that are still under-priced right now–that’s why those are higher in the rankings–but the rental returns should be good in all of them,” Winzer says. “I particularly like the investment markets in Texas and Oklahoma, with their low unemployment rates and ability to profit for years from new shale oil and gas development.” “
For more info, see the Forbes list of the top investment cities of 2014!
We are thrilled to know that you are keen to buy a home – whether it’s for your own family or to rent it out as a long term investment. The home you find may not be ready to live in and or may not suit your needs right away. That’s what the contractors at Unique Home Building are here for. We are dedicated to making your house the home you are looking for. Let us know how we can best serve you today.