The appreciation of real estate over time has long made owning a home or an investment property a sound financial strategy.
Prospective home buyers spend considerable time looking for a property they’re hoping to call home. Various factors, including property taxes and the reputation of local schools, may be considered as homeowners decide where to look for a new home. That vetting process is equally important, albeit slightly different, when buyers are considering investing in properties they don’t intend to live in.
Real estate can be a great way to diversify an investment portfolio and earn extra income. Before shopping for an investment property, novice investors may want to consider certain factors to determine if real estate is the best investment vehicle for them.