Are you looking to invest in New Hampshire real estate?
New Hampshire is a lovely state to invest in given its stunning scenery and wealth of history. It also holds one of the top spots among the richest states in the US. Tourists flock to New Hampshire to experience and appreciate this impressive area.
Investing in New Hampshire real estate can lead to enjoying passive income earnings. Owning a rental property investment is a great source of income stream every month. A real estate investor can also take advantage of future property appreciation rates.
It should be kept in mind though that real estate markets’ performance varies. It’s, therefore, crucial to conduct proper research before investing your money. Evaluating an area for its job market, local economy, quality of life, and local attractions is necessary. In addition, a healthy rental market is a vital part of the assessment.
New Hampshire is a wise choice since it scores high in all the important factors mentioned above. For investors looking for profitable real estate, New Hampshire can be rewarding.
In this article by Keyrenter New England, we will list the top reasons to purchase an investment property in New Hampshire.
Why Invest in New Hampshire Rental Properties
Strong Local Economy
One factor that makes New Hampshire a good area to invest in is its strong and stable economy. Bolstered by its leading industries in health care, IT, and construction, New Hampshire has solid job growth. This attracts plenty of real estate investors and residents looking to rent a home.
Close Proximity to Boston
A lot of people work in Boston given that the salary grade is generally higher there. Still, they tend to prefer staying in areas like New Hampshire where the housing rental costs are cheaper. Investing in this area means having a ready set of renter demographics to target.
New Hampshire’s size also makes it ideal to commute as it’s relatively small. Renters would enjoy having the conveniences of the city within reach while at the same time, getting to keep their living expenses lower.
Absence of Sales Tax in New Hampshire
As a real estate investor, you can buy a property without a sales tax to think about. You can also easily market your New Hampshire rental to those looking for housing given that no sales tax leads to higher disposable income for the renters.
Access to Excellent Educational Institutions
New Hampshire has top-rated schools providing vast learning opportunities to its residents. Investing in a property here ensures that your renters can find worthwhile academic institutions to enroll their kids in.
One can find excellent educational institutions here such as the renowned Dartmouth and Philips Exeter Academy. These schools have always maintained their high ranking as top private academies in the US. The public schools in New Hampshire also provide an outstanding education to the children living in the state.
New Hampshire Natural Scenery
New Hampshire offers a serene and clean environment. High quality of life is easily available to people staying in this area. As a real estate investor, you can attract plenty of renters who wish to stay here for holidays or those looking to establish roots in an area with a relaxing nature backdrop.
It’s easy to find impressive forests, lakes, and mountains to enjoy. A wide variety of recreational pleasures at Lake Winnipesaukee presents itself to residents all year round. For skiing enthusiasts, Mount Washington is also available.
High Safety Level
Another benefit to purchasing New Hampshire real estate is the low crime rate in this state. Based on published data by SafeWise, the incidence of violence and property crime is far below the country’s average rate. Renters are naturally attracted to living in an environment where their personal safety is high. As a property owner, it’s also encouraging to learn that your property is protected.
Significant Employer Presence
Big companies have offices in New Hampshire. Some of them are UPS, Oracle, Fidelity, and BAE Systems. These employers attract a lot of people looking for secure and steady employment. As a real estate investor, this is one of the primary factors to consider when evaluating if a place can generate interest and a healthy rental market.
Top employers normally pay out competitive wages combined with amazing benefits. With a low unemployment rate, it’s easy to find good jobs in New Hampshire. Those who recently moved can find work in local stores and restaurants as well.
Ease of Purchasing Homes for Real Estate Investors
In New Hampshire, property investors can find it easy to invest in a property and convert it into a rental home. They can more easily afford the real estate and the lower annual property taxes in a couple of cities here. As an investor, you can find a lot of properties that match your budget.
The Bottom Line: New Hampshire Real Estate Investments
New Hampshire offers a great quality of life to its residents. Real estate investors can maximize their ROI thanks to this lucrative opportunity.
The state has a strong local economy, close proximity to Boston, absence of sales tax, access to excellent educational institutions, a high level of safety, significant employer presence, and provides ease of purchasing a property. All of these factors make for a better environment for real estate investors.
For those starting out in real estate investment, engage the services of expert professionals in the industry. It can help streamline the process of property purchase. It will also save you from experiencing the common mistakes of property investment. Thus, preventing you from losing your hard-earned money.
If you want help managing your investment properties, contact our team at Keyrenter New England today!