You may or may not have noticed that Real Estate Investors have been showing more interest and activity regarding Cincinnati & Dayton properties in recent years. The initial reaction to this information might be concern among some residents, but did you know that there are actually several benefits to local homeowners when experienced investors buy homes in their neighborhoods? Here are seven reasons why investors are purchasing houses around Cincinnati & Dayton and how, by doing so, they can help revitalize neighborhoods and increase overall property values.
1. Thriving Rental Market
An obvious driving point behind investor activity in Cincinnati & Dayton properties is the high demand for rental homes. Both Cincinnati and Dayton have steady population growth and diverse local economies and job markets (not to mention the college-goers and those stationed at Wright Patt). That means there are a lot of folks seeking quality, affordable rental properties in the area to call home for a few years or even a few decades. Investors can provide exactly these types of homes by purchasing properties and renting them out to tenants, which increases the availability of rental housing.
2. Home Value Appreciation
We’ve seen steady year-over-year appreciation in property values across Cincinnati & Dayton, which is another reason Investors are interested in the area. As the local economy and residential neighborhoods continue to grow and develop, property values may increase over time. This means that real estate Investors can purchase homes at the current market price and potentially sell them for a profit in the future, after doing any necessary updates and repairs. Buying and renovating homes around Cincinnati & Dayton can be a great decision for Investors and their long-term portfolio growth.
3. Renovation and Updates
As mentioned in the point above, many of the homes that investors are interesting buying in Cincinnati & Dayton may be in need of renovations, repairs, or updates. Investors who are established and experienced will have contractors and crews ready and able to tackle any work needing completed on homes they might purchase. In fact, the Ohio Cash Buyers team has multiple Ohio-licensed General Contractors on our roster, and we’ve completed hundreds of home renovations over the past two decades! By performing updates and renovations on existing homes, we help improve the condition of the property and increase its value. This leads to increases in home values across the entire neighborhood.
4. Revitalizing Neighborhoods
To continue this topic, Investors can play a key role in revitalizing neighborhoods in and around Cincinnati & Dayton. When they buy homes and perform renovations and repairs, they help improve the appearance and condition of properties in the area as a whole. The improvement in curb appeal will often attract not only new residents to the neighborhood, but also new businesses to the area, which can lead to even more economic growth and development. It only takes sprucing up a couple of eye-sore houses on a street to cause a big positive impact on the entire area!
5. Job Creation
When investors purchase a home in Cincinnati & Dayton and need to do updates, renovations, or repairs on it, well… they need people to do that work! Contractors, skilled tradesmen, construction workers, and other professionals are usually necessary to fully complete these projects and ensure everything is up to code, which opens up employment opportunities for local residents. There are other roles outside of the construction work that must be performed as well, including property managers, leasing agents, and maintenance crews, furthering the positive economic impact of the property.
6. Support of Local Businesses
The work that needs completed on the homes they buy cannot be done without the materials to do it. In this way, investors buying inCincinnati & Dayton can also help support local businesses. Lumber, nails, plumbing, electrical, HVAC, appliances, cabinets, flooring, paint, siding, gutters, even flowers and mulch! All of these things have to be purchased somewhere so that they can be used within the home, and investors will stop by local businesses to make these purchases. These transactions add up and can help support local businesses and contribute to the overall growth and development of the community.
7. Bringing New Life to Unwanted Houses
For homeowners who have unwanted properties in Cincinnati & Dayton, Ohio Cash Buyers LLC can provide a quick and easy solution. Ohio Cash Buyers LLC is a direct, professional homebuyer of unwanted properties, helping homeowners like yourself avoid the (ultimately totally unnecessary) stress and hassle of traditional property sales. Ohio Cash Buyers LLC can make a fair cash offer for the home and take care of all the paperwork and hoops associated with the sale. This can help homeowners sell their unwanted properties quickly and easily, without the need for repairs, appraisers, multiple showings, and more.
Though there are some who may be concerned about investors purchasing properties in Cincinnati & Dayton, there are actually several very positive benefits to this trend. Investors can provide affordable rental housing to local families and folks of all ages, create jobs, support local businesses, and help revitalize neighborhoods. And for homeowners with unwanted properties, Ohio Cash Buyers LLC can provide a hassle-free solution to sell their property quickly and easily. We buy houses outright, always offering a simple process and a fair CASH price. Reach out to us today to find out what we can offer you!