Real estate along the Jersey Shore is heating up, and finding the perfect investment home along the shore can be quite the endeavor. You may be tempted to jump at the first opportunity that appears reasonable to you, but take the time to evaluate the outcome of the investment from all sides.
Here are a few tips to consider:
Where and what’s available: Location! Location! Location! Where the home is located can make-or-break an investment property. Prior to purchasing your investment property along the Jersey Shore, consider if it is close to shopping, easy access for those commuting, large employers in close proximity, and any other amenity that may be appealing to renters. Many renters are looking for interior finishes that are modern as well as location. Is the home’s kitchen trendy and the rest of it up to date?
Property’s condition: Prior to purchasing an investment property, think hard about purchasing a “fixer-upper.” It may sound good to save money and do some of the improvements needed yourself, but many times buyers find major issues during remodeling. Major issues may not be in your budget, and it could delay the amount of time until you can start renting out the property and start earning money.
Cost: Set a budget and stick to it. Avoid buying an investment property that is at the top of your budget. Buying at the top end of your budget leaves you no breathing room for unseen things that may arise. The key to earning money with your investment is to be making money, and the more you spend the less return to your pocket you may experience.
The professionals at the Ferzoco Group can help you with your search for the right investment property along the Jersey Shore. We are experts in real estate from Ocean City to Cape May. If you are looking to buy a new home or sell your existing home, we’d love to hear how we can help you reach your real estate goals. Our job is to make your tomorrow better than today. Contact us today via email or give us a call at 609-264-6762.