There are many ways you can invest your money. The main difference between them is how long do you want to wait for a return on your investment. If you are eager to make a quick bang on the buck maybe you should look into the speculative investment like futures stock exchange, Forex or currently popular cryptocurrencies. But if you are a thinking about a long-term investment then you should try to invest in real estate. It might just be the right thing for you, if your plan is to rent, as that way you will have a steady return on investment.
For that reason, if you are interested to invest in real estate in Pennsylvania then we can help you choose the right place. But before we go into nitty gritty looking for the right location, let’s go step back and examine the pros and cons of real estate investment.
Invest in real estate – pros and cons
First of all, if you have the money and you are not afraid to use it, real estates investment is generally a good move. Also, be aware that you will need to spend a considerable sum to acquire the real estate, and that your return will be very slow. On the flip side, it’s almost guaranteed that you will make a profit in the future.
So here is a list of things that are most beneficial and harmful things that come to people who invest in real estate.
Benefits of investment in real estate:
- Steady return on investment
- If the housing market booms you can turn a quick profit by selling the property
- You will have tax benefits
Harms of invest in rental real estate:
- It’s rare to have no problems at all with tenants
- On rare occasions, the housing market can go into downturn making you lose your money
- If your property is vacant for a long time it will hurt your cash flow
- When you purchase property your money is tied into it. So that means that when it comes to the sale of your property there are some mistakes that you want to avoid.
This is not a definitive list as more things can be added, but its good way to see some of the most critical points. If any of those points connect with you, think about for a minute longer before you decide to invest in real estate.
What are the best Pennsylvania cities to invest in real estate for 2018
We are crunching the numbers and using data and science to tell you which places in Pennsylvania have had an increase in prices and development over the past year. Make no mistake, that while we are happy to recommend to you the best places to live, looking into investment is quite a different ballgame. We are examining the question of the best place to invest in real estate, so we are going to try to determine places with most future potential in the Keystone State.
Best cities to invest into real estate in Pennsylvania by our calculations are:
- Grove City
So when we crunch the data we want to see which place is growing, where property prices have increased recently while its still “cheap” for Pennsylvania.
- Population: 6,564
- Median Home Price: $112,800
- Population Change: -1.4%
- Home Price Change: 13.9%
- Population: 6,968
- Median Home Price: $112,500
- Population Change: -0.4%
- Home Price Change: 5.8%
- Population: 5,330
- Median Home Price: $110,200
- Population Change: -0.4%
- Home Price Change: 3.1%
4. Grove City
- Population: 8,170
- Median Home Price: $119,400
- Population Change: -0.5%
- Home Price Change: 6.4%
- Population: 6,136
- Median Home Price: $116,100
- Population Change: -0.6%
- Home Price Change: 3.8%