Boston is a great place for investing in real estate and now is the perfect time to be buying! Here are 3 quick reason that make this true:
1. Why Boston? Boston vacancy rates are extremely low as of today. The vacancy rate throughout the city is somewhere around 3%. This means as a landlord you are not going to have trouble finding or replacing tenants. There are incredible amount of people in this city looking for quality rentals and that number is growing.
2. Rents are rising rapidly…supply and demand. We have more people looking for apartments than there are apartments available. The demand is higher than the current supply and it’s pushing the prices of our rentals upward. This is a trend that is likely to continue into the near future. As your properties rental income grows so will its value.
3. The economy and the job market here in Boston are very strong. Because of this we don’t experience the wild swings in property values seen in some other areas of the country. As a property owner you can be certain that value of your property will remain steady compared to other states.
If you’ve ever considered becoming a landlord or if you’re already a landlord looking to grow your investment portfolio….there has never been a better time to start shopping. You couple the market conditions here in Boston with historically low interest rates and to me it’s the perfect storm for buyers.