Some people seem to be at the right place at the right time, and there is no better time to be in the right place when it comes to real estate. Whether you are looking to buy your forever home, or just looking to flip a home and move on being in a neighborhood on the rise can make all the difference. But how? How does one know when a neighborhood is on the rise? Let us at the Investor Hub, point you in the right direction.
Follow the coffee!! It sounds silly, or whimsical even, but according to a number of sources including Business Insider look for coffee shops, a new Starbucks development, and smaller unique coffee shops!! It isn’t just coffee, if a new trendy restaurant or painting studio pops in a “bad neighborhood” it could be a sign that the neighborhood is on the rise.
Art and Music, people enjoy living around creativity and culture. Artists and musicians offer both, and often live in places that are affordable with low rents. The art and music draw in the people, popularity of the neighborhood drives up the rent and the surrounding prices. While this is rather unfortunate because the artists and the musicians tend to move on, when investing in a property this is something you should look out for, especially if you are hoping to get into a neighborhood before it becomes “THE” neighborhood.
Consider the surrounding neighborhoods. While you may not currently be IN the trendy neighborhood, being in the surrounding neighborhood can be equally beneficial. At some point that neighborhood will be either, at capacity OR too expensive to live in and so the overflow begins into the surrounding areas.
When investing in a property with some of the signs above, the area might not be fulfilling all the boxes on your wish list, patience is key when it comes to investing for the future. Timing is everything.