Invest In Real Estate - But Where?

Where should you invest in real estate? If you know an area well, and have enough experience investing in real estate, you can make money almost anywhere. However, there are always places that are better or worse for real estate investments - places that have a better demand/supply ratio. Use the questions below to find them.

Demand Questions

1. Is the population growing fast? Check the US Census figures online, or ask the local government if they have the statistics. Stay away from areas that have little growth.

2. Is job growth decent? Again, ask local authorities or use the census information. You want to see job growth equal to or exceeding population growth. The people have to have money to pay for housing.

3. Decent quality of life? This is subjective, but important. Are there theaters and bookstores? Count coffee shops and cafes. Trendy areas usually have increasing demand for housing. It's also a good indication of a high quality-of-life if people are willing to take lower-paying jobs just to live there.

4. Wealth in the area? It is always a good sign when there is some degree of wealth in a town. Count rich homes. Wealth means everything doesn't die when the economy slows.

Supply Questions

1. How much new construction? The census figures can tell you what's happened over the last ten years. Then check with the local authorities to see if the the number of housing units they've issued permits for is more or less than the expected population growth.

2. How many homes for sale? A lower supply of homes for sale means upward pressure on prices. This indirectly drives up rents as well, which makes for better investing.

3. Rent and vacancy levels? Are rents high enough to justify investing? Are vacancies low? When we first came to Tucson, every building had vacancies, and we saw a man holding a sign that read, "Apartment - $250 Per Month." Great place for renters, but not a great place to invest in real estate.

4. Available land that is buildable? Less is better for future appreciation. When the land runs out, the prices start accelerating upwards.

Use these questions to compare various towns and cities, and you'll see the differences more clearly. You'll see how housing demand compares to supply in each. Finally, you'll see where it is better to invest in real estate.

Posted by Sharon Ostman on December 13, 2008 at 12:00 AM

About Sharon Ostman
Sharon Ostman is affliated with Century 21 A-Gold Action Realty, Inc., which is located in Bristol, CT. For further assistance please use the contact information located on the right.

As of 05/21/12 the Sharon Ostman RePage is ranked at 7,237 with 350 points.

Local Information for Bristol, CT

Latitude: 41.682249 -- Longitude: -72.933656

ZIP Codes for Bristol, Connecticut	06010 06011
Area Code for Bristol, Connecticut	860
Time zone for Bristol, Connecticut	EST

Other Area Cities: New Britain, CT Newington, CT Bristol, CT Cheshire, CT West Hartford, CT Farmington, CT Harwinton, CT Watertown, CT Canton Center, CT Meriden, CT

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Bristol is a city located in Hartford County, Connecticut, 20 miles (32 km) southwest of Hartford. As of the 2000 census, the city had a total population of 60,062. Bristol is the eleventh largest city in Connecticut and is primarily known as the home of ESPN, whose central studios are in the town. Bristol's nickname is Mum City because it was once a leader in chrysanthemum production. The city is also home to Lake Compounce, the oldest continuously operated amusement park in North America, and to both the New England Carousel Museum and the American Clock and Watch Museum. The name of the local daily newspaper is the Bristol Press. It is also home to The Tattoo teen newspaper, one of the first online newspapers. Bristol hosts the Little League Northeast Regional playoffs every August. -- Source: Wikipedia.com

Connecticut 2000 Census Population Profile Map

	Bristol	Connecticut	United States
Population	60,062	3,405,565	281,421,906
Median age	37.6	37.4	35.3
Median age for Male	36.3	36.1	34
Median age for Female	38.9	38.6	36.5
Households	24,886	1,301,670	105,480,101
Household population	59,291	3,297,626	273,643,273
Average household size	2.38	2.53	2.59
Families	16,179	881,170	71,787,347
Average family size	2.94	3.08	3.14
Housing units	26,125	1,385,975	115,904,641
Occupied units	24,886	1,301,670	105,480,101
Vacant units	1,239	84,305	10,424,540

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Invest In Real Estate - But Where?

Local Information for Bristol, CT

Latitude: 41.682249 -- Longitude: -72.933656

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