A volatile stock market has many people looking for other ways to invest their money. Real estate is one of the options most considered. Is buying a property and renting it out a smart idea? The answer is maybe.
According to Robyn A. Friedman, in an article originally published in the Wall Street Journal, the success of this strategy depends on location, price, maintenance costs, the type of home and other factors. For example, does it make more sense to buy a single-family home – or to invest in several apartments?
Tempted to buy a home in a coastal area or other vacation spot? Be sure you understand the pros and cons – like seasonality, flood insurance, cleaning and property management costs. Real estate may be the perfect option for you – if you’re fully aware of the risks and rewards. If you need help finding the right property, and you’re looking in Montgomery County, PA and the surrounding area, Vanguard Realty Associates can help!