Real estate can be an excellent place to invest your money, but only if you put it in the right places. It takes a combination of the right kind of property and the right location to offer you the greatest return on your investment. If you are wondering about luxury property opportunities and the area of Irving, Texas, then this might help.
Real estate certainly suffered as a whole in the aftermath of the bubble, but it is finally starting to balance out and appreciate in value once more. Still, in many areas this recovery is slow, and the growth of value is less than impressive. In 2014 the value of the average single-family dwelling only rose about 4.5%.
But some properties, namely luxury homes, appreciated by about double at 8% over the same time frame. That makes it one of the best and most lucrative real estate investments on the market today, and this rate of appreciation is expected to increase.
Foreclosed properties in general can be excellent investment opportunities already, so combine foreclosure with luxury homes that appreciate in value and you have the potential to gain a stunning ROI.
With the help of an excellent agent you could locate great foreclosed luxury properties in the best areas, and those investments could help you grow your nest-egg to a more than comfortable sum.
So you know the type of property you want to aim for now, but what about the location? Texas is a state rich in real estate growth and opportunity in virtually every category, and specifically the city of Irving is a great place to start.
Irving is often grouped in with the Dallas area of Texas, which is a vastly popular option for investment real estate. The population is 220,856 and growing, and the median household income of this population is $50,778. With a median home price in Irving of $136,400, investors get quality, spacious homes for prices that can't be matched by other areas in the country.
The great growth of the population and development in this area cause property values to steadily rise, and when you combine that benefit with the already excellent prospects of luxury properties, you have an opportunity simply too good to pass up.
The short answer is yes. Texas is a great area to invest in real estate, and luxury property is one of the best categories of real estate investment to get involved with. It is possible to find solid luxury property investment opportunities in Irving, Texas, especially when you take foreclosures into account. But finding these opportunities first and grabbing them up is no simple task.
The best way to proceed is to consult the expert opinion of a real estate professional. With expert help you can find the best opportunities available. If you're ready to see what luxury real estate in Irving, Texas can do for your investment capital, then you are ready to contact an HMFA agent today.