One of the ways that you can make money by buying a house in Astoria is by looking for certain properties that have the potential to explode in value soon after you secure the property. Your real estate agent has the experience to help you locate the properties that can explode in value in short order. Keep these tips in mind because your local home for sale Astoria OR real estate broker can be on the same page as you and easily find these gems before other buyers come knocking.
Buying the Worst House in the Best Neighborhood
When you want to increase the value of your investment right out of the gate, then you need to buy low in a great neighborhood. Instead of waiting for a seller’s market to make money on your house, you simply buy a rundown house in a great neighborhood, it’s like having money already in the bank. The value of the surrounding homes in that neighborhood help to boost the value, so all you will need to do in a few repairs to keep it looking livable, and the other houses will instantly boost the value of your property. Your Astoria realtor will be able to search the best neighborhoods and alert you the second a diamond in the rough is available for purchase.
Looking for Run Down Houses with Property
Another way to get instant equity in a property you got a for a deal is to look at the land more than the house. In other words, a buyer may want to grab your property and level the house if you are near water, near the schools, or in a great neighborhood. The house doesn’t have as much value as a large piece of property because the future buyer might be able to split the lot and build twice.
Consult with your real estate agent about finding any type of house with a lot of property in a great location. Looking at the land instead of the house is a great way to instantly boost your profits.
Finding a House Near Future Business Development
Your Astoria real estate agent has their finger on the pulse of everything that is going on in the city. Ask to see houses that are located near land that has yet to be cleared for development. If a large parcel is going to be the future site of a mall, school, or business district, the value of the property can explode soon after.
Your agent can tell you exactly what the land will be used for an if there is a house for sale in close proximity that could see a boost in value thanks to its neighbors building new stores.
When you are in the market for a house and want to get maximum value for your investment at the start rather than waiting for decades for the value to explode, consult with your Astoria real estate agent so they can secure showings to the best properties in your region.