Some of you may have never imagined that homes can be so affordable you can buy more than one. You think that it's never going to happen to you. But in certain areas of the U.S., this is a huge possibility.
Bulk buy is the deal at the moment. And yes, we're talking about homes here.
Areas where home bulk buying is taking place are those where foreclosures abound. Investors and aspiring homeowners are taking advantage of the situation. And why not? With just a few thousand dollars or a little more than $10,000 to spend, you can well afford to buy a home at clearance sale price and then spend a little to repair it. When you're done renovating it, you can either live in it or rent it out.
In 2011, McKinley Capital Partners and other hedge funds and private equity shops bought some inventory (rental properties). And this year, investors from Main Street are doing the same thing.
In Forest Park, Illinois, many are buying condo units there. Who wouldn't be attracted to buy one when you can have it for as low as $13,500, way below from its original price of $180,000. Some people there have started investing in homes and renting them out instead of putting their funds into a retirement account which won't assure them of gaining a bigger amount in the future.
More investors are reported to be buying in bulk in Detroit, Atlanta and California. Some homebuyers in Charlotte, North Carolina were also found to be doing the same while they have the opportunity. Real estate experts agree that bulk buying is one way of clearing up the foreclosures. They also expect prices to continue to go down.
A 2012 International Housing Affordability survey by Demographia revealed that worldwide, the U.S. is still a country with the Top 24 most affordable housing markets. The survey covered some 325 metropolitan areas all over the world.
Homeowners who have the extra funds can grab this rare opportunity today. Instead of renting a home, they can very well afford to buy a home at an interest rate of only four percent or even lower. This is most possible in Phoenix, Arizona and in Minneapolis.
Meanwhile, those who have set already aside a retirement account can use part of their funds to invest in a residential property. They can always rent it บ้านมือสอง ราคาถูก out if they prefer not to live in it. And later on, they can always sell the house for a profit. Experts today call a cheap family home a "very asset class" that is good to own.
You might be find it hard to believe but latest reports say home prices in certain areas in the U.S. will continue to drop down to another seven percent through 2013. If this is the case, then you're indeed in for a treat. Who wouldn't want to have a home that you can call your own? It's every family's dream and for those who have more, this is a great investment opportunity.
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