HOUSTON, Sept. 18, 2019 /PRNewswire-PRWeb/ -- People are living longer these days, yet Social Security isn't sufficient enough to accommodate the lifestyle people have grown accustomed to in their lives. "One's IRA may not be enough, either," said Gonzalez. "To bring in residual income in your retirement years, an investment property is key."
No matter what the economy is doing, no matter what is going on in the world, there are always people buying and selling real estate. "Real estate never depreciates," added Gonzalez. "I have only ever seen it increase in value. We aren't making any more land, and as the population increases, it is becoming a demand. The trend to smaller lots and homes going vertical is not just for city dwellers anymore."
Furthermore, Hurricane Harvey destroyed a lot of Houston homeowner's credit due to many losing their homes and rising foreclosures. This caused the local rental market to blow up. Meanwhile, people with means have been picking up these foreclosed homes and it has spiked the interest for the investment community.
"Since Harvey, Houston's flooded areas have seen many improvements, thus increasing property values. Homes (land) are being sold for more due to increased building costs and some areas have seen a 100% increase in the price per square foot sold and the gentrification of many Houston areas. The dirt is like gold now," noted Gonzalez.
Gonzalez stresses that real estate is always going to be strong, especially now that a plethora of people are relocating to Texas every day due to the strong local economy; the cost of living in Texas is still reasonable. "A lot of people are moving here and bringing money with them from the home that they sold, and can buy multiple properties here; one to occupy and another to provide the residual income. In Houston, you can still purchase a starter home for about $150,000," stated Gonzalez. "They can use that money to not only buy their own home, but investment properties, which would see them through their retirement."
For example, Gonzalez has many clients that have made a significant income through real estate. One example was a client who 30 years ago purchased a $200,000 property and recently sold it for $18 million. "I strongly believe that people that have the means to invest should consider real estate because it's less volatile than the stock market and we're not making any more land. Real estate is cyclical and with foreclosures coming soon, it's time to invest," advised Gonzalez. "For those who can't buy alone, they can join clubs and will then be a percentage owner. A normal person couldn't just invest a million dollars into a multi-million-dollar building, but they can get with a group to pull their funds together."
Gonzalez also helps people find investment properties and offers property management services. "I can also refer you to a financial advisor to help you manage all the rental money coming in," she concluded. "It is crucial to have a plan B for retirement, because Social Security income isn't going to be enough."
About Violet Gonzalez, Century 21 Olympian
Violet Gonzalez works with both buyers and sellers. Violet's aim is to guide her clients and provide them with the most honest and detailed information while helping them make the best choice for their home and/or commercial property. She makes buying, selling and leasing a hassle-free experience from start to closing. She serves zip codes 77000-77599. For more information, please call 713-570-6906, or visit violetsellsrealty.com.
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SOURCE Violet Gonzalez
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