Why Purchasing Real Estate in 2021 Could Be the Right Financial Move for You
Wednesday, January 6, 2021, 6:00 AM | Leave Comment
2021 is likely to be a year of big changes for everyone. If you are still renting, it may also be the year that buying property is finally a possibility.
If you have a down payment ready and you are thinking about moving, you should definitely consider the reasons why purchasing real estate in 2021 is likely to be the right move for you.
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Changes to the Market
The housing market is currently in flux, but there’s no telling what that means. Though many people are struggling financially, there are still many new homes being built and even more going on the market every day. While the market does still favor the sellers, it feels like 2021 will be a unique time for new buyers to finally get in the property game. With prices rising, those who wait too long might price themselves out of getting on to the property ladder.
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Renting is Becoming More Expensive
One thing is for certain about 2021 – rent prices are going to go up. Not only has this been the trend for the last decade, but many rental agencies are now looking to make up for lost time when it comes to their empty properties. Though it may be easier to get into a rental unit without paying fees, it’s going to be harder to keep up with the payments as they continue to skyrocket throughout 2021.
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A Solid Investment
It’s also a good idea to remember that real estate is a very solid investment. While prices are rising, they haven’t yet spiked in a way that indicates that they will be coming down any time soon. If you can invest in property now, there’s a very good chance that you’ll be able to sell it later for a profit. Even if you can’t sell any time soon, you’ll still get the benefit of owning luxury homes even as you wait for the market to make a change.
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Financial Uncertainty
Finally, it’s important to remember that one of the best reasons to invest in real estate is because it provides some stability in uncertain times. While no one knows what 2021 is going to bring financially, that level of uncertainty does make it harder for those who are cautious to invest in the stock market. If you are more concerned with your investments keeping their value, you have to focus on real estate.
This may well be the best year to get into real estate. Prices are good, rent is going up, and your investment in real estate might be a good safeguard against an uncertain market. When you’re ready to invest, you really should stop to think about real estate as your first option.
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