Smart investments in Virginia
When you are thinking about moving, there are many things to consider. For example, how to organize everything, how to pack, find storage Virginia, and so much more. However, there is something even more important than organizing all these details. You need to see whether you will buy a property or rent one for yourself. As you might know, there are many advantages to buying a house since it can pay off quite well in the future. For this reason, if you share the same opinion, here are some smart investments in Virginia that you should consider.
Hire a good moving company for a better relocation to Virginia
Before you see where smart investments in Virginia are, you should read how to organize a move. First, you should find a good moving company. It is difficult to do everything on your own, especially if you work, have children and pets. For this reason, movers are there to help you to safely relocate your entire household to your new address in Virginia. There are some things you should pay attention to when looking for local Virginia movers. Make sure to read moving reviews to see if that particular moving company is reliable or not. Then, contact several companies and ask for an in-house estimate. Before you sign the contract, make sure to understand every single policy. Lastly, do not forget to ask about additional fees.
The places for smart investments in Virginia
Virginia is pretty huge so you need to choose carefully where to invest. The state is located between the Atlantic Coast and the Appalachian Mountains. The capital city is Richmond, while Virginia Beach is the most populated city in the state. Overall, Virginia has over 8.5 million citizens. Since you want to find smart investments in Virginia, here are the top places where you should look for one.
- Greater Richmond
- Green Bay
- Chase City
The first one is Greater Richmond, a hidden gem when it comes to smart investments in Virginia. The reason is quite simple, Greater Richmond is attractive to millennials. For this reason, you can buy a family house and rent it to one of the young couples. The prices are still quite reasonable so you should use your chance while you can. In addition to this, due to the popular demand, the rents are increasing each year. That is why Greater Richmond is a region where you should invest. However, some people there are mostly selling houses to the first home buyers rather than investors. For this reason, you might need to convince some of the older residents to sell their homes to you.
Smart investments in Virginia: Tidewater
Another great region to invest in, Tidewater might be just for you. For $100,000 to $150,000 you can find irresistible fixer-upper deals. If you want to spend more money, then you can rent a good rental property. Tidewater has over 3 million residents so you will easily find tenants for your property. In addition to this, this region has a large number of military personnel and they prefer renting a place over buying one. Most of them are quite responsible so you can be sure they will not destroy your property. You will most likely collect rents via payroll allotments since the military usually pays for their living expenses. Lastly, there is also a big number of blue-collar workers so you can expect some long-term tenants as well.
Green Bay & Chase City
The best place for smart investments in Virginia probably is Green Bay. You can find a property for $118,000 which is quite more than good for the first-time investor. As for rental income, the average is $2,100 per month. You will easily return the money that you invested and earn more in a short period of time.
Chase City is yet another great option when you are looking to invest. Rents are $1,150, higher than most areas in the vicinity. As for the price of the properties, it is around $95,000. In addition to this, the costs of living in Chase City are 20 % lower than the national average. You will easily find tenants since people will never stop moving for work and they will not have problems to pay rent on time.
Alexandria as the last place for the smart investments in Virginia
Alexandria is less than 10 miles from Washington, D.C., the national capital. For this reason, you know that many people will look for an affordable place to rent if they are working in Washington D.C. Alexandria was even listed as one of the best housing markets to invest in 2018 by none other than Forbes. Since federal jobs will not disappear any time soon, you can expect many potential tenants. In addition to this, if this is your first time investing, then you should find a local real estate agent to help you with this task. The real estate agent should know all about the market in the areas, the neighborhoods, and where you will fit the best.
Should you then buy a property?
Many people found their fortune through real estate, and you can be one of them if you play it smart. However, you should know that being a landlord is not easy. You are responsible for your property and your tenants. In addition to this, you can also buy a certain property for a lower price due to its poor condition and fix it. You can then sell it or rent it for a much higher price. Some people enjoy renovating old properties so maybe it could be your passion as well. However, you should know that this takes more time since renovating a home is not easy. For this reason, see what works best for you.
As you can see, these are the best regions and places if you are looking for smart investments in Virginia. If you believe this is something you should do, then find a trustworthy local real estate agent, and buy your first property.