Investing in an area that majority of the population own vs rent?
Hi guys,
I have been looking in areas where they fit the criteria of low crime, great school district, and nightlife...this is for a single-family home buying strategy, but I find that some areas near me that fit these criteria of top schools, places to live, etc. but have a low percentage of the population that rents vs actually own. A strategy I'm exploring is buying a SFH in a great area, live in it for a year (ideally rent out rooms while in it), and then rent it out to a family after I move out. Part of me thinks that owning a SFH in this area makes it so I have a product that has less supply and being in such a great area the demand won't be an issue. My concerns are one, using the house-hack strategy for the time I will be living in it, and two, also renting it after I plan to move out in areas that say 80% or more of the population owns vs rents. Do you have any experience with this SFH strategy and/or advice that I should consider when looking? When looking at the SFH strategy, would you suggest looking in good areas that are more towards young professionals or those with great school districts that attract families? Any response is much appreciated.