Picking the right market for real estate investment is critical to your long-term success in accumulating capital. Having an established team that’s able to identify those markets is vital. Mistakes in selecting can mean stagnant sales, price drops or even tax implications when you are forced to carry a property longer than you had anticipated. That makes doing your homework and analyzing an area for profit viability a crucial part of the process.
Making sure the area’s economy is stable is important. A few key components to evaluate is if there is job growth in the district and surrounding areas. How have the home prices performed over the last few years? Have they increased or are they just holding? And equally important, is the growth sustainable? Experience in the field and industry forecasts can provide you with a good idea if there is momentum or stagnation in an area, and whether it is a ripe market for your investment.
Washington, D.C. meets all of these mentioned above and has been recognized as one of the top 20 best markets in the U.S. for real estate investing. Not only does it have a vibrant city center with its own unique districts, but the surrounding metro area offers a variety of environments, each with a charm all its own. This offers an investor many choices in the type of property they want to invest in.
Not only is the housing market in D.C. hot, but the region’s job growth is better than the national average. There has been significant redevelopment in the suburban areas which is attracting the sought-after millennial customer too, many of which have realized that investing in property is the best way to go for building wealth.
Home prices continue to rise and are forecasted at an 11% three-year growth rate. That makes Washington, D.C. and its metro areas an attractive, sustainable market opportunity for investors over the medium and long term.
To learn more about how you can grow your wealth by teaming up with real estate investment experts and have access to some of the best kept secrets in the Washington, D.C metro region, click here or call us at (877) 248-3495.