Real Estate Investing: Why Invest in Ohio
It goes without saying that real estate investing is a major thing nowadays. And, you do not have to be an expert to do it. You just have to know how to follow the oscillations in the housing market trends. So, how does one do that? Well, with the help of a real estate agent who knows the market well, or alone by researching and constantly checking the market conditions. This rule of investing applies to both buying and selling a property. And, what are some of the hottest real estate markets today? Those in Ohio! And why? Because the state offers many benefits, and people are willing to take advantage of them. So, without further ado, here is what you need to know about real estate investing in Ohio, and why should you opt for that right now, in 2020.
Why Should You Invest in Ohio?
Before you decide to start making your move to another state fast, and investing in property there, make sure you are aware of everything there is to know about that particular state. In this case, the state we are talking about is Ohio. So, why should you invest in Ohio? Well, as previously mentioned, living in the Buckeye State comes with many benefits. And, definitely, the benefit that is the biggest of them all is Ohio’s strong economy. There are many great companies here that keep attracting talent from all over the world.
Moreover, the education system and healthcare are both well-developed. And, when it comes to properties, for both buying and selling, you will have the ability to choose and save money while doing so as well. So, as you can see, Ohio is great for people of all walks of life. Thus, if you like what you hear, consider investing in Ohio’s real estate market soon.
If you plan on investing in Ohio property, you will not regret it. Alt.tag. A city in Ohio.
Best Cities to Invest in Ohio
If you want to invest in Ohio’s real estate, whether to resell the property, rent it out, or to use it for yourself, better consider some of those bigger cities like Cincinnati, Columbus, and Cleveland. Yes, there are many other cities in Ohio you can go for, but investing in smaller ones can be risky. The three previously mentioned cities are great as they have the strongest economy and all the largest companies are located there. These cities will definitely attract many buyers, many of whom will be students, young professionals, and talented workers from all over the world.
However, if you are moving to Ohio with your family, planning to start one there, or rent your place to one, better consider smaller cities like New Albany, Montgomery, Waterville, etc. Smaller cities and suburbs are always better for families – that is one of the things to know when moving with a baby, toddler, school-child or teen.
Real Estate Market Forecast for Ohio for 2020
Right now, at the beginning of 2020, be sure that Ohio has a hot housing market. Home values rose by 5% in 2019, and experts estimate even a bigger rise this year. Also, just like in the last couple of years, Ohio has had a seller’s market, but everything is slowly but steadily starting to balance out. Still, this is a great year to consider selling your property and investing in a new one, if you are an older millennial. However, if you are a buyer, be prepared for some competition. So, if you consider buying a home, you will be expected to pay approximately $169,900 which is the median price of homes, or $107 per square foot. Just make sure to act quickly, because as previously mentioned, the prices will continue to rise.
Be sure to stay up to date with all the real estate market oscillations if you want to invest properly. Alt.tag: Money and a house figure.
The Best Time to Buy a Property in Ohio
And, now, if you are persuaded and ready for investing in Ohio’s real estate, let us talk about the right time to buy a property. According to many real estate experts, autumn is definitely the best time to buy a property in Ohio. This is because many homebuyers have already purchased what they wanted, or decided to leave the market until next year. So, if you do not mind looking at houses during colder weather, be sure that you will have less competition and bidding wars with other buyers, as well as have the possibility to negotiate the price with the seller.
If you have difficulties deciding when is the best time to invest in a property, hire a real estate agent. Alt.tag: Two people shaking hands.
The Best Time to Sell a Property in Ohio
And, while we are on the topic of the real estate market trends in Ohio, let us also mention what is the best time to sell a property. The answer is spring, especially in the month of May! Real estate experts claim that sellers tend to get around $2,000 for their homes in the spring. So, keep that in mind if you plan on reselling your property after you invest in it. Also, before spring comes, be sure to tackle everything related to renovation. Make sure that your home is completely repaired and cleaned and look for some home staging tips as well. You should also list your home and prepare it for showing. If this is your first time investing in a real estate, in Ohio or anywhere else, consider hiring a real estate agent to help you out!
Photos used
https://pixabay.com/photos/columbus-ohio-skyline-cityscape-4127568/
https://pixabay.com/photos/money-home-coin-investment-2724245/
https://pixabay.com/photos/purchase-house-house-purchase-3113198/
https://pixabay.com/photos/key-home-house-estate-business-2323278/