When looking to make money in real estate, investors try to seek out the next big thing. With this method, a buyer who chooses the right real estate can make a serious amount of money. For this reason, some serious investors who want to be ahead of the crowd are considering buying houses in the countryside. Here are five reasons why rural properties are becoming a better real estate investment.
Taxes: Many cities do not have money on hand due to the economic downturn. When this happens, cities will often try to exploit homeowners and taxpayers into paying more taxes. When buying in a rural area, an investor can often avoid this serious and costly problem. Remembers, cities will remain broke and underfunded for the near future, and they will go after property owners. When owning a house outside of city limits, an owner can limit his or her tax liability.
Competition: When buying a house in the city, an investor has huge competition. Within city limits, there are condominiums, apartment complexes and single-family homes. In the countryside, one is not competing against investors in these properties. Rather, a buyer will only compete against other investors who are also buying one family homes. Remember, in the city, a building project can quickly add the glut of homes on the market. Luckily, since most rural areas grow slowly, an individual will not have to compete against developers and condominium owners.
Trends: With hybrid cars and people working from home, it is now viable to live in the countryside. In the past, only farmers and a few individuals could live in a rural area and get by easily. Now, many workers telecommute to their jobs and have no incentive to live in overcrowded and congested cities. A smart buyer should look at investing in a rural house. Technologies will only improve in the future and more people will look to the countryside.
Terrorism: While there is no immediate danger, some people fear living in large cities. In reality, the threat is not large, but many have decided that is best to live far from large cities. As governments and certain groups enjoy wreaking havoc, buying a house in the countryside is a hedge against these problems.
Cheaper: Without a doubt, rural properties are significantly cheaper. This presents a buying opportunity for an investor who wants to get more bang for his or her buck. While they are cheaper now, as demographics and times change, rural houses may be on par or even more expensive than city dwellings. A savvy investor looking to make money in real estate should look at a rural town; it offers the buyer an opportunity to buy a home for less than a small condominium in the city.
Regulations: When buying a house in the countryside, one will not have to worry about overzealous regulations. This is an advantage for a buyer who wants to improve upon his or her property. When making a small change to a house in the countryside, most people will not need to deal with paperwork. On the other hand, a homeowner in the city has to get a permit to do almost anything.
When looking to make money and stay ahead of the crowd, one should consider investing in a countryside property.