Investment grabs even the least business-minded person’s attention, so we created 5 Reasons To Invest In Northern Michigan Real Estate. Many of us picture dollar signs, our Economics 101 professor, or Scrooge McDuck swimming in gold coins when we hear the term. (Click here to see all Northern Michigan Waterfront Lifestyle Homes for Sale)
REALTORS® likes to share the benefits of home ownership with buyers. This term is common in real estate. Since real estate investing in Northern Michigan is so popular, we’re excited about the opportunities we see.
The family investment raises many questions. Here are five reasons Northern Michigan real estate investment is preferable to the stock market:
Investing is risky. Pros and cons, risks, and rewards are part of the game. Run as fast as possible if someone tries to sell you a risk-free investment.
Real estate is safer than investing in a single stock or bond. Consider the safety of a real estate purchase by calculating the money you’re NOT spending as much as the money you are.
Let’s pretend for a moment that you did not invest your money into real estate. Instead, you tossed every investment dollar into your favorite stock. Even if that stock performs as well as you hoped, you are still paying your landlord hundreds of dollars each month to keep a roof over your head.
Rent is like a stock investor’s “Living Fee” because it’s paid to a business. Real estate investors pay off mortgages to invest in living expenses. We’re investing in our home’s equity.
To compare real estate and stock investment, subtract tenant-related expenses from stock portfolio earnings. Real estate will likely always yield higher returns.
2. Business Owner
Some real estate investments return quickly. Paychecks remind homeowners who rent rooms or the whole house of their excellent investment.
Entrepreneurs are landlords. The tenant pays your mortgage and gives you extra cash. The most strategic landlords exceed their mortgage payments with tenant income.
Homeownership gives you a roof over your head, autonomy, and extra money each month. Real estate has extended- and short-term returns.
Long-term returns include money when you sell the home.
Short-term investments include a place to live, the autonomy of owning and designing your home, and monthly income from renting out a room.
Some economists point to the stock market’s higher return. Despite what economists say, most households need more cash to take advantage of high-return investments. Banks don’t give “stock-investment loans.” They provide home loans.
Scales are tipped. One can invest $200,000 in real estate with bank help but expect a different generosity for a stock investment loan. Stocks are purchased with cash. You may have a higher average return, but your money goes further by investing less.
Now we come to my favorite part: I can’t think of a better place to be a real estate agent than in Northern Michigan. Homes in the area are booming. Commercial and residential real estate values are on the climb.
Of course, no investment is without risk. But if you put your dollars anywhere, the real estate market in Northern Michigan is a smart way to go.
Contact Brook Walsh today if you are in the market for real estate in Northern Michigan. Whether you’re looking for a home in Boyne Mountain, Lake Charlevoix, or some city nearby, our agents know the area best and can help you find the home that fits your budget and lifestyle. Start building your real estate investment portfolio soon by calling today.
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Q: Is Northern Michigan a good location for real estate investment?
A: Yes, Northern Michigan is a prime location for real estate investment due to its natural beauty, outdoor recreation opportunities, growing economy, affordable real estate, and strong rental market.
Q: What types of properties are available in Northern Michigan?
A: Northern Michigan offers a range of properties at various price points, from small cottages to luxury homes.
Q: Can I earn rental income from my investment property in Northern Michigan?
A: Northern Michigan has a solid rental market, allowing real estate investors to earn rental income.
Investing in Northern Michigan real estate is a smart choice for those looking for a unique blend of natural beauty, outdoor recreation, and a growing economy. Whether you’re looking for a vacation home or a rental property, Northern Michigan offers a range of properties at various price points.
With its strong rental market and affordable real estate, Northern Michigan is a prime location for real estate investment. Ready to invest in Northern Michigan real estate? Contact Northern Michigan Escapes today to find the perfect property for your investment needs. Our team of experts is here to help you every step of the way.