If you’re interested in purchasing a profitable residential rental property, Asheville, N.C., is the perfect area to explore. The city is uniquely positioned to draw a reliable stream of potential renters, thanks to its attractive amenities: great restaurants, world-class entertainment, an ideal climate, and of course, the renowned natural beauty of the surrounding Blue Ridge Mountains. That’s why rental properties in Asheville and Western N.C. have continued to grow in value, providing steady income and boosting investment portfolios.
When you’re ready to start your investment-property search, an experienced Mosaic Realty broker can help. Mosaic’s agents are well equipped to guide you along every step of the way, from finding the best neighborhoods for your investment needs, to calculating which properties will give you optimal return on that investment. Here are some ways we will help you find the right investment.
Dig deep into Asheville area neighborhoods
A Mosaic Realty agent is well equipped to help you determine which neighborhoods to consider for your investment. With our deep understanding of the area, we will walk you through thinking about important factors such as vacancy rates, nearby restaurants and shops, schools, parks, walkability and access to public transportation and major thoroughfares. Neighborhoods around Asheville offer everything from an urban feel to a more rural, natural environment. And there are great opportunities to be had no matter where you are looking.
Research rents and compare costs in the Asheville area
Different Asheville neighborhoods can have widely varying home prices and rental rates. It’s important to consider the costs of maintaining a residential rental. Depending on your budget and the time you have to devote to maintenance, you may be interested in purchasing a newly built home, a fixer-upper where you can build value, or an easy-to-maintain condo. Your Mosaic agent will help you assess costs and your return on investment, including evaluating a property’s cap rate (an assessment of the yield of a rental).
Look for appreciation potential
When you’ve narrowed down neighborhoods and property types that interest you, your Mosaic agent will help you evaluate appreciation potential. We will help you consider factors such as new developments in the area, greenway and roadway projects, etc. Certain changes will boost property value, while others could hurt it. Learning what’s in the pipeline for the neighborhood can help inform your purchase decision.
For more tips and guidance on finding the perfect investment property in Asheville, reach out to Mosaic Realty. Visit https://mymosaicrealty.com/investments/, contact us at Info@MyMosaicRealty.com, or call us anytime at 828-707-9556.
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