Are Tiny Houses A Good Investment?

“We live in a tiny home.” A decade ago, this statement would have caused looks of sympathy. Now, it’s a topic of fascination and conversation — yet another example of how time changes all!

The tiny home movement has only continued to pick up speed. We all know the benefits: costs less to own and operate, takes up less space, encourages a minimalist lifestyle. But is owning a small house actually worth it? The RealtyHive blog is here to investigate.

Are tiny houses timeless, or simply trending?

Tiny houses are currently all the rage, but is this a trend that will last?

Historically, how people choose to occupy space is something that ebbs and flows. In the era of mass immigration during the 1800s, people flocked to New York by the millions, cramming into tiny apartments — sometimes shared by multiple families.

By the end of the 19th century and beginning of the 20th, we saw a rise in Victorian manors and people moving westward, demonstrating a shift in people’s desire for more space. Row homes and single family homes grew in popularity in the ‘50s, only for sprawling mansions and bigger homes to be the trend of the ‘80s.

Based on these trends, it’s safe to predict that if everyone had a tiny home, we’d all eventually crave something roomier (or at the very least, future generations would). The resale value of a tiny house is remarkable right now, but down the line, this might not be the case.

Minimal size = minimal lifestyle?

Most of the time, tiny homes are depicted on the outskirts — both of society and societal norms as a whole. From gorgeous treehouse bungalows to shipping container homes in the Southwest, you’ll typically find these homes in more remote areas.

That’s great for the person living off the grid or the freelancer working from home, but what about the majority of people working 9-to-5s? Many subdivisions won’t allow tiny homes — there usually is a minimum square footage requirement. Longer commutes themselves are a nuisance, but for someone trying to lessen their carbon footprint, a tiny house probably isn’t the solution.

Tiny home expenses = tiny financial impact?

Certainly, this is one of the greatest advantages to the small house movement. Building costs are likely less than buying a more traditional single family home.

With less room to heat/cool, light, and even clean than traditional homes, tiny houses will have substantially lower operation costs. Plus, less storage means you physically won’t be able to buy more stuff. People often forget that owning a house costs much more than just the down payment and mortgage — much of this can be eliminated with a tiny home.

More people = more problems?

This question goes in two directions:

Globally: As our population continues to grow, there’s a good chance that we will simply need to adjust to living in smaller spaces. For that reason, a tiny house could still have desirability in the future and positively influence your potential for ROI.

Individually: A tiny house is great for a person or a couple. It becomes significantly more challenging for growing families. As kids get older, space becomes a priority — not to mention more “stuff” (everything from toys to school papers) begins to accumulate.

What worked for two people will be a massive challenge for three or four. If having a family is important to you, a tiny home might not fit your family’s needs.

For most people, tiny homes probably won’t work in the long run. But only you can decide if this is a worthy investment and lifestyle for you. Still on board with a tiny house? Check out our vacant land for sale to find the perfect place to build (oceanfront property in Honduras, anyone?). Thinking about finding a more traditional (yet modest) house? Look through the RealtyHive listings to find your dream home!

How to Avoid Home Buyer’s Remorse

Here’s a quick quiz for you: What percentage of millennials regret buying a house?

a. 30%
b. 49%
c. 54%
d. 68%

The answer is d. Astoundingly, more than two-thirds of millennials have home buyer’s remorse.

You might be thinking, why would a real estate company write about people wishing they hadn’t bought a house? It’s because we don’t want anyone buying a house they’ll regret. We’re writing on this issue because you can absolutely prevent home buyer’s remorse — here’s how.

Think long-term.

Many people want to buy a house for one of the following reasons:

  • A house is a crucial step in adulthood.
  • Buying a house is a good investment.
  • I don’t want to rent anymore.
  • When having a family, it’s important to have extra space.
  • I want my own property, my own space.

Most of these reasons are great reasons to buy a house. However, most of these reasons don’t remind us that a house is a massive investment.

Home buyer’s remorse is the same as regular remorse: we regret how our past decisions have impacted our future. It’s critical to think of a house in the long-term — it’s better to wait on buying a house than to rush into an investment you’re not ready for.

Think big picture.

Owning a home means affording a down payment and monthly mortgage, right? 

Not at all. A lack of planning ahead leads to a lot of home buyer’s remorse. You should put at least 1% of your home’s value into savings each year, solely for repairs and annual maintenance. You probably should wait on buying if this feels like a stretch.

If you don’t burn through all that money in a year, consider yourself lucky, and keep saving. Having to suddenly replace your home’s heating or deal with a burst pipe is a lot less intimidating when you’ve put the money away ahead of time.

Don’t put too much down on a down payment.

CNBC reported that about 40% of millennials feel like they didn’t make good financial decisions when buying a house. That’s almost half of all millennial homebuyers.

A big source of home buyer’s remorse came from spending too much on the down payment. Reports showed that one-third of millennials were dipping into their retirement funds to pay for their house. This should be avoided at all costs — and if it can’t, nine times out of 10 you should wait on buying.

While a 20% down payment might seem traditional and best for paying off your house, it’s not the only way to go. FHA loans allow you to put down 10% or less. Conventional loans can be as low as 3% down. Research your options until you feel confident in how you’ll afford your home.

Do what’s right for you.

Are you more interested in traveling and moving around? Do you want to switch jobs or careers in the next year or two? Do you see yourself settling down into a different area than where you are now? Are you worried about managing a property? Would paying for a house feel more sacrificial than rewarding?

Just because your parents, grandparents, or even friends have bought houses does not mean you have to. There’s no timeline to home ownership — you can (and should) wait if you don’t feel ready. And even if you never want to buy a house, that’s OK!

Listen to your gut.

We’ve all been there — you want to buy something, it doesn’t feel *quite* right, but we’re already committed to the idea and don’t want to back down. In the event of a house, you should absolutely back down if something feels off. 

Twenty percent of millennials felt home buyer’s remorse when they discovered damages and expensive issues after closing. Order a thorough home inspection, read up on contingencies, hire an attorney or real estate agent to help you through closing, and remember — if this house doesn’t work out, there will be another one.

At RealtyHive, we will always work to help you find the best real estate situation. Whether that means selling your house through a time-limited event, buying your first home, or even getting cash back in both the buying and selling process, we’ve got you covered. See what’s currently on the market, and work with RealtyHive to truly avoid home buyer’s remorse.

Creating a Sense of Urgency to Help Sell Your Home

“Buy NOW!”

“Going, going GONE!”

“One day sale only!”

Urgency is a sales tactic that we see everywhere. Creating a sense of urgency is an effective way to get people to act fast. But does this sales tactic work with selling your house? 

Not to spoil it for you, but the answer is yes, absolutely! Read on to find out why.

How Selling a House Is Different From Traditional Sales

In some ways, the sense of urgency in selling a house is reversed from traditional sales. Oftentimes, those selling a house are more in a rush to get their house sold than people are to buy it.

Not to mention, houses don’t “go bad” like produce at the grocery store or seasonal clothing at a boutique. But don’t worry — there are still plenty of ways that you can create a sense of urgency when selling your house.

List a deadline.

If you’re certain that you’ll have a ton of activity on your home, you can put “Presenting all offers on ____” your listing description. This can work super well if your price is slightly underpriced because you could potentially skip negotiating offers and escalation clauses.

However, we can’t stress this enough: only do this if you’re 100% positive your home is in high demand, otherwise this can backfire.

Live in a desirable area.

Living in an area where everyone wants to live practically creates the sense of urgency for you. Many homes out West (such as in Colorado and Montana) are selling like hotcakes because there is such high demand. If you’re in the buying stage, it’s to your benefit to pick a house that’s in an up-and-coming location.

Have a desirable home.

A property that meets the needs of a specific demographic or has some amazing assets is sure to be a hot commodity. Having an energy efficient or smart home is a definite plus. So is having a space that future owners can turn into a vacation rental, such as a home with a shed that can be converted into a home.

But what if you don’t have a super desirable property?

First off, there’s nothing to be ashamed of if that’s the case. We can’t all have the hottest properties on the market, it’s just not possible! 

However, we’re going to let you in on a secret: it is possible. Working with RealtyHive is a key way to create a sense of urgency for your home sale.

List in a time-limited event with RealtyHive!

Did you know that most properties listed with RealtyHive sell before a time-limited event takes place? It’s because these events are the definition of creating a sense of urgency for your home sale. If people wait until the day of the event, they’re at risk for losing the property, or for paying a higher price.

Just like many other psychology selling tricks, you don’t need urgency to create a sense of urgency. However, successfully creating a sense of urgency massively helps your property sell. Don’t worry about becoming a sales expert — just work with RealtyHive instead when it’s time to sell your house!

Preparing for Winter (In Places That Don’t Get Winter)

In 2019, the city of Redding, CA received more snow in a single day than Boston had the entire season. Last year, sunny Tucson, AZ — where the average temperature is 84°F — experienced snow.

While every place experiences winter, being prepared for winter’s worst is no longer limited to northern states. Whether you’re in Albuquerque or Atlanta, San Antonio or Scottsdale, take these cold weather tips to ensure you’re ready for whatever comes this winter.

Slipping on ice — not so nice.

Warmer states tend to have more of an ice problem that colder states. This is because these states and their residents are often less prepared to deal with ice, but also because temperatures can hover right around freezing. It might be rainy and in the 40s one evening in Georgia, only to freeze overnight and turn driveways into the world’s worst slip-n-slide.

Stock up on at least one of the following things — even if you don’t use them this year, they’ll last for years to come:

  • Rock salt: A bag of salt is your best bet, because it actually melts the ice. Plus, there will be leftover traction (salt particles) once the ice melts. One downside: Rock salt doesn’t work as well at 10°F and lower.
  • Sand: Sand creates traction on top of ice, but doesn’t melt it. Even in the coldest of temperatures, sand helps tires and boots grip better.
  • Kitty Litter: Kitty litter should really only be used in desperate times. It provides some traction but ultimately absorbs the water because it’s mostly clay.

A bag of water softener salt can also work in a pinch, but your best bet is rock salt.

Put down some paper — invest in a scraper.

True story: this writer was living near Phoenix, AZ, then traveled to Colorado and learned the hard way that she didn’t have a car scraper.

A car scraper is the best and quickest way to get rid of snow and ice on your windshield. Even if you don’t use a scraper this year, even if you think defrosting will work just fine, you just never know! There are countless scenarios and places where a scraper will come in handy. Drop the 10 or 15 bucks now for a lifetime of protection.

Show your hands love — get some gloves.

Living in a warm place and buying the proper winter attire doesn’t make you weak, it means you’re smart! There’s no reason to suffer months of mild cold, because mild cold is still “cold.” Consider getting a warmer jacket, a pair of gloves, a headband or hat, and winter boots. Again, even if you don’t use them now, there’s a good chance you will at some point.

Traveling near or far — stock up your car.

Breakdowns do happen. Road closures occur. No one wants to skid into a ditch on a particularly frosty night, but unexpected occurrences don’t wait for when you’re ready.

Pack up your car with the following things to ensure you’ll be set for winter:

  • Blankets
  • Non-perishable food items
  • Water bottles
  • Reflective cones or signs
  • First aid kit
  • Paper towels
  • Phone charger (preferably a car charger, but consider buying a portable charger if your car doesn’t have charging capabilities)

Another true story: This writer was in a car that broke down on a country road at 8 p.m. on a Sunday in February. It took more than an hour for AAA to arrive and the battery was dead. Everyone in the car was so grateful for blankets!

Cold weather tips might seem pointless if you’re not in a place with cold weather, but recent years and patterns have shown otherwise. Ice storms, blizzards, and cold snaps can happen to anyone, anywhere. 

Wherever you are, RealtyHive is your local real estate expert. Whether looking for a home in super sunny El Centro or wanting to tough it out in Montana, our real estate listings have it all.

Smart Home Devices to Check Out

The Jetsons or the severely underrated Disney original movie “Smart House” portray what life is like when technology makes its way into our homes. But in present times, these movies are closer to fact than fiction. 

While everyone knows about Alexa and Google Home, these smart home devices might not be common knowledge — but they’re certainly just as cool.

RealQuick: Why update to smart home devices?

Convenience: What is technology if not an improvement on the ordinary? Some of these smart home devices (like the speaker/bath fan combo) eliminate the need for multiple appliances or technologies.

Safety: Better technology can help improve our safety. An outdated garage door can be broken into; a lack of water monitoring system could lead to mold.

Be in the Know: Living in Florida for the winter? Renting out an Airbnb in Spain? Smart home devices help you keep track of your property, even when you’re away. 

Save Money: Smart thermostats are just one of the many forms of technology that improve energy efficiency. The more energy you save, the more money you save.

Bluetooth Speaker/Bath Fan Combo

Bluetooth speakers are great, but installing them in with your bath fan is next level. Bathrooms need fans to properly ventilate steam and moisture. This combination would be perfect for listening to your favorite album or podcast while taking a blissfully long shower, with the added benefit of clearing out all that humidity!

Smart Garage

Most garages operate remotely, but it’s getting better than ever. Smart garages allow you to open a garage door from a phone, tablet, or desktop, anywhere in the world! This is not just convenient for families, it also adds a layer of protection. 

Certain garage openers and garages can also automatically open or close once you leave or arrive home. You’ll never have to wonder if you remembered to close the garage door again.

Water Monitor

The average household with leaks leads to more than 10,000 gallons of water wasted every year. This isn’t environmentally friendly, but it also isn’t very wallet-friendly, either. Oftentimes, we don’t realize we have leaks until there’s something noticeable (like a faucet or the development of mold).

Water monitors nowadays can both detect and even stop leaks from happening. This saves you countless dollars in repairs and wasted energy bills.

Smart Thermostat

Sure, you can program many thermostats to certain temperatures at certain times of day. But what about when you come home from a trip at a weird hour, or something else unexpected comes up?

Smart thermostats use an app on your phone to allow you to program your thermostat, whenever and wherever. Many also connect Alexa or Google Home so that your thermostat is voice-activated. Not too shabby for when you’re sick on the couch and don’t want to move!

Another benefit to adding all these smart home devices? You’ll improve your home’s value. A smart home is a major selling point in the market, and listing with RealtyHive makes the selling process easier than ever. Find your new home or sell your existing one with RH!

How to Afford a House

Buying a house is supposed to be this wonderful rite of passage. But for most Millennials (this writer included), it seems nearly impossible. Between paying off student loans, falling into the cycle of rent, managing bills and car payments, it seems like we’ll never get ahead.

The good news is that if you want to own a home, you can start preparing for a down payment now. You might not be ready to afford a house today, but your dreams of becoming a homeowner are far from over.

Work on your credit score.

The better your score, the better loan you can qualify for, and the lower your monthly payment will be. You can save hundreds of dollars a month, all by having a great credit score. For reference:

  • Good: 670 – 739
  • Very Good: 740 – 799
  • Exceptional: 800 – 850

Aim for “Very Good” at the very least. Keep up on your monthly credit statements, pay all bills on time, and try not to use a credit card unless you can quickly pay things off.

Get pre-approved.

It seems silly, but you can’t own a house without buying one. Pre-approval for a loan is an important step in the process of affording a house. These days, a pre-approval letter from a lender is usually required, even before touring a house.

Pre-approval also gives you a chance to seriously reflect on your finances. You’ll need at least 2 years’ worth of tax returns, paycheck stubs, W2s, and bank statements, among other documents.

Research your loan and down payment options.

One of the biggest things that Millennial homebuyers regret is spending too much on the down payment. While it’s typically recommended by Baby Boomers to put much more down on a house, this might not be the best route for you — nor is it the only route.

FHA loans allow you to put down 10% or less — the exact number depends on your credit score. These loans are popular among first-time homebuyers, particularly when they don’t have the savings to put down one-fifth of a house. Check out our blogs on saving money when buying a home and other types of loans for more solutions!

Work out your budget.

Research homes in the area you want to live and think about not only what you like, but what you can afford. Here are some important considerations:

  • Monthly Mortgage Payment: Is it just going to be you paying for a mortgage? Are you moving in with a significant other, spouse, or friend? Factor in who will be paying — and what they can afford — when budgeting for a house.
  • Property Taxes: Unless you live in Hawaii, Alabama, Louisiana, or a few other lucky states, be ready to pay upwards of 2.25% in property taxes (looking at you, New Jersey).
  • Little Fixes: Unlike renting, you won’t have a landlord to take care of that leaky faucet. Build up a savings account to dip into when small things occur.
  • Big Fixes: Replacing the roof, updating to new appliances, landscaping the backyard — plan on setting aside at least 1% of your home’s value every year.

Start now…

So many homebuyers think “I’ll start saving once I pay off my loans” or “I’ll look into pre-approval once I get a better paying job,” or even “I’ll learn about buying a house once I’m in the city where I want to live.” 

Our advice is to start much sooner than you think you’re ready. Best case scenario, you end up with a house you love! Worst case scenario, life doesn’t change and you’re not a homeowner, but you’re more prepared to move in that direction. You don’t have to buy just because it becomes an option, but putting things off — especially if a good deal is in front of you now — could end up costing you more.

…but be smart!

Countless Millennials who regret buying a house tapped into their retirement savings to afford the down payment. This is rarely a smart move. If your only options for home ownership involve bad loans, bad properties, or bad financial decisions, wait on buying. Reassess what you need to do to improve your ability to afford a house — without the buyer’s remorse.

Buying a house should be exciting! RealtyHive works to make that happen. From real estate listings, time-limited events, and even options to help homebuyers get cash back, RealtyHive is the place to go when you’re ready to afford a house. Look through our listings today!

real estate agent laptop listing

How to Set Up Your Listing for Success

According to the National Association of Realtors most recent report on the profile of home buyers and sellers, for 44% of recent buyers, the first step they took in their home buying process was to look at properties online. Compare that to the 17% of buyers whose first step was to contact a real estate agent and the importance of optimizing your listing for buyers becomes evident. When it comes to the marketing and presentation of your listings, how can you make sure your listings are set up with the best chance of success? 

One simple way to make sure to put your best foot forward is to keep WWBT in mind — What Will Buyers Think? RealtyHive is here to help you break down exactly what this means. 

Photos

With pages like Please Hate These Things or Terrible Real Estate Agent Photos  always ready to put up the latest in questionable real estate photos, it’s a good idea to err on the side of caution. That same NAR report also states that 87% of buyers who used the internet at any time during their search found photos to be very useful. 

RealtyHive Rules: 

1. Don’t include people (or parts of people) in your listing photos. At best, it detracts from what’ you’re actually selling. At worst, someone’s feelings are going to get hurt. Either way, it’s a lose-lose situation 

 2. Be wary of having photos with animals. Animals can be a great way to achieve the right kind of virality, but only if animal looks safe, healthy, happy, and are not caught on camera doing their “business”.

3. Make sure to get photos of (almost) everything. There are some things to skip — root cellars probably won’t make the best photos, neither will a room filled with a creepy doll collection. That said, if your description boasts of a wine cellar or private theater, it’s important to show off those selling features. Don’t leave the audience hanging. If you choose to skip over a room, it’s likely a potential buyer will think there’s a good reason you don’t have photos of it. 

4. If the inside or outside truly are a disaster, show only the best parts, but make sure to have an accurate description of the property. It’s okay to have a fixer upper or a property that “needs some TLC”, but it’s not ok to set unrealistic expectations. 

Descriptions

If it looks like a barn and quacks like a barn, it’s gotta be a barn, right? Wrong! With the popularity of converted buildings being used for residences and the growing popularity of residences to be short-term rentals, it’s more important than ever to spell out a property’s use, even if it is abundantly clear when you are there in person. In fact, the Realtor report stated that 85% of buyers found detailed information about properties to be very useful. 

RealtyHive Rules: 

1. If your property is used as anything other than what it appears to be, it’s vital to spell it out in the description. Have a property that is more suited to be a rental than a primary residence? Focus on that in the description. Conversion properties are one thing, but if you can’t tell the property’s use by looking at it, it’s up to you to clarify in the description.

2. If it’s a residence, there should be information on the number of beds and baths. If it’s land, you should have a plus-or-minus idea of how much land is available. For commercial properties, knowing the square footage is essential. These might seem really obvious, but skipping this information prevents you from landing in search results and appearing in front of buyers. 

Additional Resources

Some properties have additional caveats or information that is required. While it makes perfect sense to not reveal everything about a property in your listing, some things should be shared upfront to avoid any wasted time or hassle on anyone’s part.

RealtyHive Rules:

1.  Things like zoning, restrictive covenants, easements, and homeowner’s associations should be discussed upfront as these can be deal breakers for the buyer. You don’t have to put these in your listing description, but if you have the ability to upload documents or attach additional information links, you can weed out those who aren’t interested. 

2  Certain properties require more information than others. If your property has a searchable address, you may not need to include a map. If your property is simple “Lot X” having a map will help those looking for specific characteristics in a property.

Have a property that you’re looking to get extra exposure on? Whether it’s a home, land, commercial building or more, RealtyHive can help you find the right buyer for any type of real estate with Marketing Matters and Time-Limited Events!

How to Lose Money in Real Estate

We’ve talked about how you can make money in real estate, but what are some ways this investment can backfire? By knowing how people can lose money in real estate, you’ll be better prepared to make a good investment.

Market Downturns

This is one of the most well-known ways of how a good home purchase can turn into a bad real estate investment. The impacts of the 2008 housing market crash are still felt by many today.

The good news is that a housing bubble and subsequent bursts can be tracked. There are no guarantees, but even in the years leading up to 2008’s crash, many people were already nervous about where home prices were headed. Read up and stay informed on the state of the housing market to help make good real estate investments.

Bad Neighbors

While you might be able to put up with the Urkels and Kramers of the world, future buyers probably won’t. From nearby factories to neighbors who care little for their curb appeal, bad neighbors can negatively impact your home sale.

Bad History

A death in your house — even if occurring naturally, and even if from a previous owner — spooks people from wanting to buy. Unfortunately, there are enough horror movies to scare potential buyers from wanting a home with some, erm, history.

Going Over the Top

Rapper 50 Cent had to take around an 80% cut on his mansion. Michael Jordan still hasn’t sold his Chicago home. The more over-the-top your place, the more niche your buying market becomes. This inevitably lessens your chances of selling.

Some personalized details to your home are OK, but there’s a fine line between “unique” and “eccentric.” Before making any substantial changes, remember to think with a seller’s mindset — you won’t own this home forever.

Too ________

Too big, too much carpet, too many cobwebs, too little closet space, etc. Buyers are like Goldilocks — they want a property that’s juuuust right. Keep up on current trends to know what buyers are looking for

And remember — if there are things that bother you about your property, they’ll likely bother others. It’s better to make those changes now and increase your home’s value when it’s time to sell.

If you’re reading this list and wailing at all the boxes your home checks, don’t despair! RealtyHive offers time-limited events to make selling easier. Even if you’re ready to get rid of your home as-is, we’re the ones to call. Sell with RealtyHive for a stress-free process.

Here’s Why Selling a House in Fall Won’t “Leaf” You High & Dry

Depending where you live, telling people you’re selling your house in fall leads to a plethora of concerns. “Are you sure?” or “Are you desperate?” are some of the questions that will inevitably come your way.

But RealtyHive is here to tell otherwise. In most cases and most events, selling your home in the fall is A-OK.

RealQuick: Why do many think it’s bad to sell in the fall?

For a long time, the window to sell houses was unofficially in the spring and summer. As soon as you got to October, many believed it was better to hold off until the following spring to sell.

The reasons for this were intertwined. For a very long time, there were fewer buyers — it was more difficult to look at houses and move in winter, plus many families didn’t want to disrupt school schedules.

Fewer buyers meant lower sales prices, and it also meant longer waiting periods. Anyone who’s sold a house knows that an indefinite wait period throws a wrench into their own moving and buying plans. The result? Why wait months to sell when you can just plan on selling in spring?

What’s Changed Now

Because the market’s changed so much, the best time to sell a house is when you want to sell. Here’s why selling your house in the fall isn’t going to leave you high and dry for the next six months:

The market is still hot.

Anyone who pops on a real estate listing database can clearly see how many houses are up for sale. The demand to sell no longer wavers based on the season — and neither does the demand to buy. This means that prices will still be high, and your chances of selling for a fair price are good.

There could be fewer wintry worries.

Holding off until spring to sell your house means that you could face winter problems that require fixing — problems you wouldn’t have had to deal with, had you sold in the fall. Burst pipes, broken furnaces — no one wants to deal with that.

Not to mention, if you’re waiting to sell but already have another property, imagine shoveling two driveways. No one wants to shovel two driveways.

The photos will be so much better.

The better the photos, the better your chances of selling. And what looks better: a house surrounded by barren trees that looks sad and depressed like we all do come March (warm climates excluded)? Or a house that’s framed by crisp, autumnal trees with gorgeous leaves? 

Your fall photos > winter or early spring photos. Potential buyers will show greater interest in pictures that truly show the beauty of your home.

The holidays make time speed up.

Well, not scientifically, but when do November and December not seem to fly by? If you list and sell in fall, you could spend the holiday season in a brand new house instead of stressing over selling a few months later. For all we know, you could actually roast chestnuts over a built-in fireplace in your new home — but only if you list in the fall.

Fall is a time of letting things go. Just as the trees shed their leaves, it’s time for you to trust the season and list your home for sale. If you’re worried about selling in a timely manner, let our time-limited events work in your favor! With resources like Cashifyd offering cash back to sellers and a time-efficient selling process, RealtyHive does it all. List with us today!

How to Make Money in Real Estate

Making money in real estate seems to be on everyone’s mind. Whether you’re a current homeowner looking to expand your investments or a first-time buyer, it’s a good time to review the four ways you can make money from real estate.

#1: The Old-Fashioned 

Like many of our parents and grandparents, the Old-Fashioned way involves buying a house, investing in it (make necessary renovations, etc.), and hold onto it for decades.

The longer you hold onto your house, the greater chance you have for it to appreciate in market value. No matter what, if you’re planning on buying a house for yourself, plan on living in it for at least two years, but ideally at least five to seven to maximize your ROI. 

When You Won’t Make Money: In the ‘70s and ‘80s, cities in West Virginia and Montana were economic hotspots due to their mining industries. When the mines (and subsequent jobs) ran dry, so did the desire to live there. Owning in an area that could experience similar boom and bust puts you at risk.

#2: The Up-and-Coming

Buying a house in an up-and-coming city is a great way to make money in real estate. Cities like Boulder, Bozeman, and Coeur d’Alene have exploded with popularity in the past few decades. Those who bought properties years ago in cities that are now popular are looking at huge ROI when they decide to sell.

When You Won’t Make Money: It’s essential to find a city that’s on the cusp of real estate greatness. However, that city’s growth needs to fit your timeline (or vice versa). No one wants to be stuck in a city they think will be popular in five years, only for it to take decades.

#3: The Fixer Upper

Flipping houses has become one of the most popular ways to make money in real estate. Lower-priced houses nearly always need a lot of work. If you’re willing to make renovations, there’s a good chance you can sell your house for more than it was originally worth, and turn a profit as a result.

When You Won’t Make Money: Costly renovations, not selling fast enough, struggling to find buyers — these scenarios affect ROI potential. Closing fast on houses might net the best deal, but skipping a home inspection can lead to costly and unplanned expenses. 

#4: The Rental

Buying a house in a popular area and renting it out is a great source of passive income. Don’t get us wrong — it’s a lot of work to be a landlord. However, it’s nice to see your home turn a profit on a consistent basis. Plus, you still get the long-term benefits of owning a house.

When You Won’t Make Money: The Rental’s success is dependent on your ability to find renters. Any day your house isn’t being occupied is a day you’re losing money. Invest in an area that needs rentals, like owning near a big city or close to college campuses.

No matter what option you’re considering for making money from real estate, start your journey with RealtyHive! Find vacant land to build on, international properties, residential homes, and even commercial spaces in our listings today.