Three things investors in Charleston need to consider before buying.
Are you thinking about buying an investment property in Charleston? If so, know there are three things you absolutely need to consider first:
1. History. Has the property increased in value over the last 10 years? If it has appreciated historically, chances are it will continue to do so.
2. Location. This is crucial in all facets of real estate. If you buy a property in a great location, you are increasing your opportunity to rent it at the highest rate possible and keep it occupied consistently.
3. Patience. This is the most important thing to ask yourself: “Do I have the patience to keep this property for at least 10 years?” Historically, if you hold a property at any point in a 10-year period in the real estate cycle, you can sell it for a gain. Make sure you’re capable of this and ready for it.
If you have any questions about investing in real estate or primary homeownership, don’t hesitate to call or email. My team and I would love to help you!