Increasing Rent Propelling Renters to Buy Homes
Rents in the U.S. are soaring high with the drastically waning home values. Apparently, this is high time for investors to buy homes from property owners who are selling. A recently conducted research states that renters these days are more interested in purchasing a house than renting, but it is very difficult to do so in this lending environment. The ever-increasing home rent along with the reducing rates of vacancy has contributed to more tenants wanting to convert from renters to first time property buyers. However, real estate investors who are able to obtain lines of credit can take advantage of waning prices and increasing rents to obtain potentially solid investment property.
As Investment Property experts, we have observed that the following factors have been compelling the renters to enter into the real estate market in Houston and Dallas:
1. High rents: The ever- increasing house rent of is driving renters to become first-time buyers. House rents are going up by 13 percent and this is the major reason why renters are exploring options for purchasing their own home.
2. Reasonable price of homes: Homes are available at affordable rates and sale of foreclosure homes are also encouraging renters to become property owners.
Low Interest rates: Low mortgage can inspire more investors to buy prospective investment homes. Moreover, unlike rents, mortgage rates are always fixed and cannot go up even during inflation, and this means that the potential for margin could be increasing
Warren Buffet, one of our great financial genius said himself that the market seems like there are great opportunities to buy real estate investment property.
Ashokalion - About Author:
Jay Raman is the broker of record for The Lion Real Estate Group, a Houston and Dallas area brokerage focused on working with investors and homeowners buy, lease, or sell their property. Jay and his team have been in the investment property Houston and association management business for the past 6 years and manage over 160 residential (single family home) properties in Houston and Dallas as well as several associations. To get more great articles or ideas, you can also visit the Lion Real Estate Group’s Website, Facebook or Twitter Account.
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