Put your money in a place where it works for you.
Did you know that buying a home and becoming a homeowner means that you are making an investment and an investor? Let us explain. When you buy a home, you are the one that owns the property, and because real estate appreciates over time, you can put your money in a place that will likely grow. There are an array of areas you can spend your money, but in most cases, you are just exchanging your hard-earned cash for that product or service; you are not necessarily going to earn more money through these purchases. You might, but typically they are sunk costs. An example is buying your weekly groceries. Sure, we need to eat and need nourishment. However, did we need to buy those hostess donuts of the end cap? It was good for the soul. We have all been there, but the donuts are not going to make you more money unless you turn around and sell them for a profit to someone. You might, but not likely, in some cases for this example. When you buy a home, you invest your money in the real estate market for your area and neighborhood. Therefore you don’t want to only take into account what the home offers, but we recommend you consult a real estate professional on the following:
- What neighborhoods have shown market resilience? This is important if you intend to stay an investor in that area for a while. If not, you might still be interested in the changing environment, and it could be a good place for immediate investment to help move you to the next level of investing. These are all factors to take into consideration.
- What growth anticipation is in the area you want to buy? Knowing if new businesses are moving into the location is good. Perhaps a grocery store will come in soon, and you can walk to it once built. Knowing what businesses and amenities are near or anticipated can help determine if the area has the right amenities for your desired lifestyle.
- What is the selling rate of nearby homes? Real estate professionals use comps to help determine the best price for your home. It can help buyers know what to expect to pay for a specific neighborhood. However, it can also help you understand as a buyer if you will have longstanding neighbors or if you will be experiencing shifts more frequently with those who reside in your area. This can matter to different buyers and can help inform buyers.
Ultimately, understand that when you invest in your home you are investing in your community too. For us to reach our potential and thrive, we all must make this commitment. Investing in ourselves is important to our collective whole. Cheyenne would not be the community we know and love today, nor will it become what it is supposed to be tomorrow without our investment. Hear from Dale Steenbergen, Greater Cheyenne Chamber of Commerce CEO, on why he finds this investment so important.
Take the time to talk with your selected real estate professional, and just know that you have our full support and expertise to get you the home that will be best for you! Give us a call- 307-635-0303 or cheyennehomestore.com to learn more.