Expand Your Investment Portfolio And Have Fun Doing It

Expand Your Investment Portfolio And Have Fun Doing It

In Washington DC’s seemingly ever-expanding real estate market, density is on the rise... and that’s not a bad thing! More housing options, whether they are apartments or condominiums, are certainly a good thing if you’re in the market for a new home.

Because a larger housing stock means more options and (relatively) cheaper prices, a buyer’s market presents a great opportunity for investment. Consider it! Investing in real estate is one of the best things you can do to strengthen your financial profile – it adds diversity to your asset portfolio and you can influence this asset’s value because it is tangible, unlike stock.

Almost anything in the DC metro area will always appreciate in value simply by virtue of its proximity to our bustling nation’s capital (thanks, government jobs!). According to a report by Zillow at the end of June 2015, District home values are projected to rise 1.5% just in the next year. The graph below shows the exponential rate at which prices have been rising since 2012, and there’s no indication that this trend is slowing down. If anything, this means the time to invest is now!

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Now that we’ve thoroughly convinced you of the virtues of investment (right!?), it’s time for the fun part. May we suggest buying a foreclosure or fixer-upper? Doing so is a great way to not only get more bang for your buck, but is also an effective way to take control of creating your ideal property. Additionally, making home improvements can be a great way to get the family together to partake in creative activities while still being productive! From ripping down walls and installing fixtures, to tiling a backsplash and picking out paint colors, there is something for everyone to have a hand in.

Ultimately, once your newly refurbished house is ready for renters, it is more than likely you will be able to secure a competitive rent rate. Ideally, the new income will at least cover your new cost of investment, if not exceed it. Get some money for those DIY upgrades! Soon you will have a new, value-generating asset that no only you but your children will benefit from. There is so much promise in real estate in this area that you would be remiss to not take advantage of, and hopefully we’ve inspired the creative investor in you to get out there and start looking for your first (or next!) project.

Richard Drummond (Broker-Agent) Headshot
Phone: 240-988-8100
Dated: September 1st 2015
Views: 4,732
About Richard: A native Washingtonian and licensed real estate agent for more than 25 years, Richard is the princip...

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