Investing in real estate is one of the best things you can do with your money—something you likely know by now.
As a real estate investor, the potential to earn an income is almost unmatched. From cash flow and appreciation to tax breaks and equity building, real estate proves to be one of the most lucrative assets.
Are you hunting for an excellent opportunity? If so, we implore you to consider the following places in South Carolina first. You won't need to look anywhere else.
Columbia and West Columbia
It's well-known that many real estate markets have been hit hard by COVID, but most argue that the capital city of Columbia still offers a world of potential, especially for budget-conscious investors who can navigate the market. Whether you invest in an as-is property or a traditional sale, both have a high probability of paying off.
Consider numbers like the one-year appreciation rate (+11.9%) or the percentage of vacant homes waiting to be purchased by investors like you (12.25%). This current shortage of inventory also works in your favor as it increases the demand for rental properties, of which the average rent price is $1,175.
Additionally, interest rates on loans are at an all-time low which translates to higher cash flow earnings. All this, and we still haven't mentioned its unmatchable Southern charm, proximity to beaches and mountains, and thriving local economy.
Another area worth looking into is Lake Murray, SC.
This 50,000-acre reservoir, also known as the Jewel of South Carolina, has hundreds of miles of coastline and plenty of properties for sale among it. If you've ever wanted to own a lake house, this is the place to do it.
Consider looking at properties on the east side, where renters get a view of Lexington or Chapin, which have been on a steady and impressive rise. The east has ongoing new construction projects underway with the only problem being the need for more land to develop them on.
Now that property prices are becoming sellable, keep your eyes peeled for deals—but act fast, as nothing remains on the market for long.
Cayce, South Carolina, is another option worth considering.
Like Columbia, you'll find historically low interest rates on traditional loans. The median home value is at a current price of $153,505, with over six thousand homes and apartments in the city. The total appreciation of homes has increased by almost 60% since the year 2000.
Cayce is also popular for its business and educational environments, being both a college town and a hubbub for young professionals.
Consider Investing in Real Estate in South Carolina
These are a few of the many places where South Carolina real estate is a wise decision.
If you've been looking for that perfect investment opportunity, look no further. Investing in real estate here is a real(ly) good idea.
We're happy to help if you have any questions or need help managing your investment properties.
Please contact Patton Properties, Inc., for more information on locating the best homes for sale or rent in beautiful SC.