We are here at the end of the 6 Myths that AnnaLisa Burgos wrote about in her article. I am excited to present to you Myth #6: “The value of the home will increase.”
I want to quote exactly what AnnaLisa wrote because I think it is very appropriate. “If we learned anything from the housing crisis, it is that homes are not cash cows. Unless you are an experienced investor or home flipper, don’t expect that $200,000 condo to be worth $300,000 in two years.”
Be Realistic: Well, that says what I wanted to say. Real estate at this point is not a short-term investment. It is a good investment with today’s interest rates for an owner-occupied property. You have options to leverage the market to make a house into a rental property in the future if your situation warrants that or if that is your investment strategy. But you cannot buy a house in today’s market and expect to make a quick profit off of it. Never say never; it is possible but not probable. Unless your sole reason for buying is to seek out a property you can flip, that should not be a strategy you should use.
So this is the final myth. Did you find these 6 Myths helpful? I look forward to your comments below or you can email me at Amy@AmyShair.com.
This is Amy. Call Amy for your Shair of the Market!
