Is Now the Time to Invest in Wilmington NC Real Estate?

Is Now the Time to Invest in Wilmington NC Real Estate?

Real estate has traditionally been one of the more reliable investments, but the market crash in the mid-2000s changed all of that. Suddenly, the economy was a wreck, mortgages where impossible to get, home values tanked, and foreclosures and unemployment were at an all-time high. But, now that the worst of it is behind us, we’re discovering that the very recession that helped initiate the housing crisis in the U.S. is also responsible for now being the ideal time to invest in a new home.

Here are the top five reasons why now is the time to invest in Wilmington NC real estate.

#1 – Mortgage Rates are Still Low

Mortgage rates have been incredibly low for quite some time now, but they are starting to climb. Many experts are surprised that the rates have stayed as low as they are for as long as they have. Most expected them to be significantly higher than they currently are by this point in time. Therefore, if you have been thinking about buying a new home or rental property, now is the time to do it while the rates are still low.

#2 – Real Estate Prices are Still Low

Like the mortgage rates, home prices were expected to be higher than they currently are. This means that a home buyer can not only get a great deal on a new home, but that low price can be coupled with a great rate, making it more affordable than ever to get into a new home.

#3 – People Prefer Living in Houses Instead of Apartments

For the real estate investor, it’s all about having the property that people want and these days, more people want to live in houses compared to apartments. This is partly due to the fact that rental prices can often be similar, so with a house, the renter is getting more for their money. Another reason is because a good percentage of today’s renters are former homeowners and as a result, they don’t want to “take a step backwards” by renting an apartment.

#4 – Renters Prefer Dealing with Private Landlords

Renting an apartment in a multi-unit dwelling usually comes with a set of rules and regulations because most of these properties are owned by a property management group. Instead of dealing directly with one person and developing a trusting relationship between renter and landlord, often times renters of multi-family dwellings are forced to deal with associations that govern the way in which they can live. These associations can be slow to take care of tenant issues and concerns. But, when a property is rented from a private landlord, the tenant has sense of assurance in the landlord thus building a level of trust between the two parties. As a result, private property rentals are in higher demand and easier to rent out than multi-unit apartments.

#5 – Real Estate Remains a Sound Long-Term Investment

The beauty of buying real estate as an investment is that its benefits pay off over the long term. In other words, just because the market may not yet be as healthy as you would like, history tells us that it won’t stay this way. Thus, buying a new property at a low price and at a great rate will place you in excellent position once the market truly regains its footing and home values start to rise once again.

Learn How Just For Buyers Can Help You Find the Ideal Wilmington NC Real Estate Investment

At Just For Buyers Realty, we specialize in helping you find and buy the ideal Wilmington NC real estate property. If you’re looking to make an investment in a new home or a rental property, just give us a call at 910-202-4813 today. One of our exclusive Wilmington NC real estate buyer’s agents will be more than happy to assist you.