As we enter into another new year, you may be wondering whether or not 2017 will be a good year for owning investment property – or possibly even for purchasing additional units for your real estate investment portfolio.
Certainly, when a property is purchased under favorable conditions and requires little in terms of repairs, investing in real estate can provide you with both long-term income generation, as well as appreciation.
But, looking ahead to 2017, interest in rental income investment, as well as in apartments, is particularly strong in many cities across the United States. Today, with a growing number of Millennials putting off home buying for a later time, demand for rental housing is expected to remain quite high, both in the upcoming year, and beyond. In addition, because employment in the U.S. has remained stable, the monthly rent price that you can command is likely to also remain stable or to increase.
Some of the other key factors that are anticipated to have a positive effect on the U.S. housing market in 2017 and beyond include:
- A low risk of a housing crash in most U.S. cities
- A moderate rise in mortgage interest rates
- Labor shortages, which in turn may push up housing production costs1
In order to help ensure that your investment property(ies) operate smoothly, it can be beneficial to work with an experienced property management team. In doing so, you will be able to free up more of your time that would otherwise be spent on managing tenants and maintaining your units, while at the same time still benefitting from the investment(s).
For more information on how you can incorporate a professional property manager in the Orlando / Central Florida area into your real estate investment plans, Contact Us today.
1. U.S. Housing Market Forecast – Strong 2017 to 2020. Dec. 21, 2016.