(Part 3 in a Series of Multiple Posts About Investing in Charleston SC Real Estate)
I have had the opportunity to help many invest in Charleston SC real estate. In fact, most of them did not know they were investors at the time. They were just buying a house because they needed a place to live.
So why do I say I was helping them invest?
Well, housing has been an integral part of long term wealth building for many years. After the world wars, it sort of happened by default. There was a steady rise in house values, with a few dips and valleys along the way.
For many years real estate was viewed as a long term investment and the 2-3% rise each year was a great return on investment over time.
Then we got spoiled. Yep. 2003-2006 was an incredible time of real estate growth and appreciation. To make money was as simple as buying, waiting a few months and selling. It was not uncommon for put a little money in for six months or less and make huge profits.
But this is not 2006. We are not there anymore. And this, quite frankly is why we should all decide to really look closely now at the opportunity. By looking at the normal 2-3% rise over the 30 plus year period leading up to the rapid increase and the recent correction, this is the exact reason housing will provide the best opportunity for a return of investment. How much does a CD yield? Will you ever own a stock outright for no cost and have it fill your bank account each month like clockwork?
Here are a few of the reasons I say do it.
I am a Realtor. It is what I believe in. It is what I do. Ok - now that my self serving reason is out of the way, how about these...
We all want to not have to work one day. - Yes, most of us love what we do and are passionate about our jobs, but as we get older it is safe to assume that doing some relaxing to enjoy life is tempting. Will social security be the answer? I am no economist, but the writing on the wall says we should maybe make some alternate plans.
We all know that people like to sleep in a bed. - Another obvious point. Most people who have a choice do not want to be homeless. Not everyone will own a home, so providing shelter for someone is a good thing. Again, proving the simple point that to invest in Charleston SC real estate is not only good for your asset portfolio, but also good for people avoiding having to sleep in the cold.
There are many reasons I say to do this, and I am sure your reasons may not match mine. So I say go ahead, be selfish. Sock some money away long term. Take time off later in life. Here is a challenge. Own 10 homes before you quit working. How about 20? It does not have to be someone else. It can be you.
Make sure to take a look at the investment tools on my site. They will certainly take the guesswork out of investing.
Nat Wallen is a Realtor in Charleston SC specializing in residential property sales. He has been licensed since 1995 and is the top listing agent with Carolina One Real Estate. Carolina One Real Estate is the largest company in the Charleston SC area of 700 plus agents. NOTE: Nat Wallen never solicits consumers interacting with his blog unless requested. YOUR comments are encouraged and welcomed. Thanks!