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Why Invest in San Diego Real Estate Today?
Onyx • August 6, 2021
San Diego is a unique market, and investing in real estate here will provide some tremendous opportunities for growth. It’s also a competitive market, and you have to know what you’re looking for in order to succeed.
If you’re thinking about investing in San Diego real estate, you shouldn’t procrastinate. Now is as great a time as any to enter the market or expand your existing portfolio.
Here’s why.
Mortgage Rates are Low
Today’s market is competitive, and inventory is low. You need every advantage you can find when you’re investing in property. One of those advantages is current interest rates. Rates are slowly creeping up, but they’re still historically low. The current rates are almost half of what they were a decade ago on a 30-year fixed mortgage. The loan you use to finance your purchase will likely be far more affordable than in the past.
San Diego Offers Investors a Strong Economy
One excellent reason to invest in the San Diego market now is that the local economy has remained strong, even during the height of the COVID pandemic. America’s Finest City is also California’s second largest city, and the opportunities for growth are continuing to present themselves. The employment rate has remained high, and our military bases have sustained the local economy even during periods when the private sector has struggled.
Military personnel largely from the Navy and Marines are moving to the area on a regular basis, fueling population growth. We’ve always had steady job growth and a stable market in San Diego. Investors know that when they buy property, they will have access to a financially secure tenant pool.
San Diego Offers Investors a Stable Tenant Pool
San Diego tenants are generally reliable and well-qualified. There are many military families looking for housing, as well as a heavy population of tenants who work in the healthcare and tech fields. Additionally, there are students and academia.
Investors have access to a pool of tenants with stable financial histories and a good track record of maintaining rental homes. Demographically, San Diego is at an advantage. It’s one of the most desirable retirement destinations in the country, and a lot of people in that age group are choosing to rent or downsize. They enjoy the flexibility and the low-maintenance that comes with a rental lifestyle. This gives investors and landlords multiple opportunities in terms of tenant access.
It’s not going to be easy to buy right now. You’ll have to be prepared and you’ll want to know exactly what you’re getting. You’ve likely heard stories about buyers making cash offers while waiving inspection requirements and jumping through hoops just to close a deal.
Be smart and surround yourself with experts, including
professional San Diego property managers. We can connect you with top agents who can show you some of the best opportunities in the current market. We can help you understand what kind of rent you can expect and how long it would take to rent your property to qualified tenants.
Most importantly, let’s discuss how to protect your assets in a world where anything is possible. Let’s explore the key information required to protect your real estate investment and your financial interests.
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