Though the economy is still in poor shape, the time is good to invest in real estate. Home prices and interest rates are low, making it an ideal time to move in – literally and figuratively. Finding prime real estate in which to invest can be as easy as doing an online property search in areas of interest. Consider which cities offer the most affordable investment opportunities and keep a close eye on feasible destinations that may have initially escaped a closer look. Here are five top locales to get the home search started.
1. Vallejo, California
The San Francisco Bay Area is an excellent place to invest, given its historic parks, museums, and proximity to tourist hot spots like Six Flags Discovery Kingdom and special treats like the Jelly Belly Candy Company. The one-time capital of California is ideal for sailing and boating enthusiasts. Invest and celebrate a great find with an escape into wine country via the Napa and Sonoma Valleys. Median home sales are around $350,000.
2. Wilmington, North Carolina
Efforts to make Wilmington more sustainable have worked: the city recently won an award for their ‘go green’ efforts. A port city, Wilmington features easy access to the Atlantic Ocean, a subtropical climate, and several beach communities. The Thalian Hall Center for the Performing Arts offers a wealth of entertainment opportunities. The city also features a recently-opened convention center guaranteed to draw visitors. Average home cost is $145,000.
3. Las Vegas, Nevada
Made popular for its nightlife and easy access to casinos and live entertainment, Las Vegas is ideal for investors; homes sell at an average cost of $120,000. There is almost no end of things to do in Sin City, including seeing Cirque du Soleil, visiting the Marjorie Barrick Museum of Natural History, or catching a game at Sam Boyd Stadium.
4. Pittsburgh, Pennsylvania
The Steel City is well known for its affordable real estate and wealth of cultural and educational opportunities, including the Three Rivers Arts Festival Gallery and top-rated University of Pittsburgh. The city is a great investment option for young professionals and retirees alike. Homes average just under $100,000, making Pittsburgh a worthy destination for those looking to snap up property. Attractions of interest include the Carnegie Science Center and Andy Warhol Museum.
5. Rochester, New York
Rich in history, this city is filled with cultural destinations like the Rochester Contemporary Art Center and Rochester Museum and Science Center, as well as a plethora of fine dining opportunities. The family-friendly city is around five hours away from New York City and boasts annual events like the Xerox Rochester International Jazz Festival and the Rochester International Film Festival. Average home cost is $95,000.
No matter where you invest, make sure to do thorough research in places of interest and those that may have flown under the radar. Keep a sharp eye on the future and make that investment work to its best advantage. Kick back in a newly-purchased property with confidence!