If you’re like other property owners and investors, there’s no doubt you’re keeping an eye on the housing market. After all, housing prices are through the roof, and people are paying extraordinary amounts of money over asking just to purchase a property. This high cost to purchase has also made rental costs increase. Because of these trends, a lot of investors are wondering if it’s a good idea to sell and make a quick and easy profit or if they should just hold onto the property in the hopes of building a number of years worth of investment. This question is especially pertinent right now because, over the last couple months, it appears the market is starting to slow.
In the article, “Could SC see more homes for rent as housing market cools? What about lower rent? What experts say,” The State’s Service Journalism Editor Patrick McCreless explores the what-ifs of a cooling housing market on the rental market and rental prices. Should you sell and make a profit or hold and keep the cash flow coming? And if you hold, what should you expect from rental prices and demand for a rental property?
McCreless looks to experts like our own CEO of Oak Trust Properties Janet Fields for insight into what investors are doing (and should do) across the state of South Carolina. Her prediction may help you decide whether to hold onto your properties through 2022.
If you’re debating which is the right decision: sell the property or keep it running through 2022, and wondering what the market means for the cost of rental units, you should definitely check out The State’s article and Fields’ expert advice.