Hurray! The real estate market isn’t joking this time. According to The realtor.com, the housing market recovery index reached 103.4 nationwide last week, showing the most remarkable recovery in Las Vegas, Denver, Los Angeles, Boston, and Portland. It seems people’s savings during the lockdown are gradually paying off. Following the Covid-19 pandemic’s hard hit on the overall index, which tracks movements in new listings, buyer demand, time on the market, and prices, seller activity remains restrained. In contrast, buyer activity has shown a gradual increase, a promising one, over the last week.
Don’t Ask Questions, Just Invest
I understand that you may be uncertain of how the market will be if there will be hope for the appreciation value of a property you buy if you are making a good deal, but now isn’t the time for such questions. You can always buy a property, maintain it to taste, and then sell it later with an increased value. You can decide to buy a house with your luxury money and watch it multiply as the economy comes back and people scamper to purchase homes. You may also decide to sell the one you have, add some money and invest in something. With good management, you won’t have a bad deal.
Let Me Wait A Little
You will be conning and denying yourself a big chance to earn big if you decide to wait a day more. Despite a low inventory count, the real market is gaining. Since we do not know how long the inventory will remain low, you should buy now, so once there is competition in the market, your pocket will smile with satisfaction. Now, this is what waiting might cost you:
- A chance to grow your worth by purchasing property no matter how small: You should understand that there is a greater chance of making more profit in the future from a property you buy now. No matter how small, you will not sell it for the same price you bought it. Real estate properties appreciate with time, and you can decide when to sell them.
- A chance to save: the best way to save your money is to invest it. Here, you can use all your savings to purchase a real estate property and relax your mind. This is because you can always convert your asset to cash, as the real estate market is readily available for buyers and sellers.
Do The Right Thing
You know, many people are still recovering from the 2020 pandemic shock and may have little or no interest in what is going on in the market. The stay-at-home law will accumulate a lot of expense; children will be born, people will take-up more significant responsibilities, others will find the need to expand their homes to accommodate their office, there will be migration: seeking new jobs and changing homes to new places (away from haunting memories and other private reasons), and these will inadvertently lead to a pursuit of new and bigger homes. This is just the story of one man, but many persons will be looking at it the same way. The competition will lead to a hike in prices, and it will continue to increase. Prices of residential areas will not reduce this year; it would rather be the opposite. You have a chance to own and/or rent a property if you hit the market now with your money.
Consider the future and what it holds. The lockdown gets soft, and businesses reopen the need for offices and other activities like saloon and gym, and even startups creating a space for themselves in the economy. The possibilities are endless, and an apartment is crucial for such expansions. Do the right thing!