Portland is a very mature real estate market, and there are some really interesting real estate investment opportunities in the city. In this article our site owner Sean Robbins explains why you should invest in the city of Portland.
We also answer some common asked questions. Basically, this article works as a guide for everything related to Portland Real Estate Investment.
Is Buying a House in Portland, Oregon a good idea?
Is your career taking off, and you have always dreamed of owning a home? Maybe you were searching for articles about the ”best places to live in the USA”‘ and you came across Portland. Well, let me tell you, Portland is a great city to live in! We would recommend everyone buying a house here. In the long term, buying could be a lot more beneficial than renting.
There are several reasons why buying a house in Portland is a good idea:
Buying a house in Portland, Oregon is a good investment for several reasons:
- Portland real estate market is still growing (meaning the value of your home will increase over time)
- You will be able to leverage home equity (which you can use in future investments)
- It’s possible that you feel more secure owning a home instead of renting one
- You can be eligible for tax deductions
- Portland, Oregon is a great place to lie.
- You will build your net worth
In short, there are plenty of reasons why we think buying a house in this city is a right move. Of course, you should always watch your financial situation closely. Portland has been a very popular city in the last few years, and a lot of tech companies places their headquarters here. This means housing prices went up a lot.
That said, if you can afford it, it might be one of the best investments you will do in a long time.
The Portland Real Estate Market: What You Need to Know
A lot of people say the following “homeownership only makes sense if you know that the value of your property will increase”. That is true. You want to buy a home, with the knowledge that you can sell it for a profit in the future. Luckily, that’s what you get when you invest in a home in Portland.
Of course, like everything, there are no guarantees. We don’t know if the home values will continue to rise in the future or if we will experience another crisis or decline.
What we can do is loook at the statistics. Statistics show that the Portland real estate market will continue to grow over the long run. We can conclude that it is a still a wise option for those who are planning to buy a home in Oregon.
You can take a look at the below information:
The population of Portland will continue to increase by about 42% over the next two decades. Which means that Portland and its surrounding neighborhoods will have a total population of at least 3.5 million.
The residents that are working in the area also earn very well. The region has been able to grow its economy over the past decades. This means more and more people will buy a home. Those who currently don’t have a home yet, will own a home very soon.
There’s also a deficit in single-family homes seen over the next two decades. At least 1,300 additional homes will be needed to close this gap. Finally, this will translate in more demand for existing homes.