Getting An Idea For The Market Today
A good way to go about either purchasing or selling real estate is to carefully monitor market trends, and work with them rather than against them. If it’s a “bear” market, you’re looking to buy cheap properties you can turn into PIGs (Passive Income Generators). You sell when the time is right, and coast during the interim.
If it’s a bull market, you buy low and sell high; but be careful of that real estate bubble. It can burst quickly, and as it gets to that point, finding buyers can be very difficult. Owing to the size of the involved transactions, confirming a sale can be quite hard.
With that in mind, we’ll briefly examine present millennial trends to help give you a feel for the market. Whether you’re looking to buy a home, rent, or manage properties, the following information is for you.
There are ways you can increase property value through green technology. A 3.1 kWh solar array will expand the value of your property in California by about $18k, additionally providing you a tax break and allowing you to save money on utility costs to such a degree that you can essentially overcome the cost of acquisition and installation of green energy.
It’s not just solar energy, either. There’s water-energy if you’re near enough running water, and there’s wind energy if you’re in a climate that’s breezy. Plus, how a given home is built will have something to do with its value in terms of green options.
Architecture that is “green” tends to have more value in the present market. Innovations in this direction can help you sell your property for more than you’d be able to otherwise. To understand why, just think about vegan food options. They fill you up less, but cost twice as much. Well, there’s a similar trend in real estate.
There’s also a mobile housing trend today. People are living in RVs and going the “van-dwelling” route. Consider this: you can pick up an old full-sized RV for under $5k, and you can pick up an acre at around $3,100, depending on where you buy. Budget $5k to $10k for utilities, and for under $20k, you can have property where you park a full-sized RV and own it.
Houseless properties are becoming more popular as technology expands and inflation blows bigger and bigger economic bubbles. It’s better to live in a traditional home, but many can’t afford this, so there are options for people with less means in terms of basic land on the outskirts of town. Additionally, if you’re a savvy investor, you can capitalize from this.
Smaller May Just Be Better
On the note of mobile dwelling options, it’s also worthwhile to consider tiny homes. In 2019, people are building and moving more tiny homes than perhaps has ever been the case. Tiny homes can be built at high quality for a low price. Additionally, even larger properties that aren’t traditionally “big” are being sought now; again owing to economic realities.
An Increase In Rental Options
Millennials rent a lot—maybe more than some other generations have. In places like Texas, where the economy is booming, there are lots of options for housing. New people are moving to such areas all the time. If you’re looking to rent, or you’re looking to buy rental property and make it a PIG, now’s a great time for either approach.
BYOD And Working From Home: An Office Is Quite Valuable
It’s possible to design and edit software on the cloud. Check out these cloud design apps to get an idea of what’s available today. Accordingly, many big businesses are outsourcing their workforce, using Bring Your Own Device (BYOD) infrastructure. In terms of real estate, millennials are looking for properties with a home office. This will increase its market value.
Capitalizing On Notable Trends
Whether you’re renting, whether you’re looking to refurbish a property and make it a PIG, whether you’re looking to construct a tiny home, invest in houseless property, or make an existing property as green as possible, there are options in 2019. Check your local listings and see what’s available in your area to help inform your next big steps in real estate.