Pros and cons of investing in St Petersburg rental
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Are you thinking about investing in St Petersburg rental? Renting properties is one of the most profitable businesses in recent decades. However, you cannot buy the first property you come across and hope that it will bring you profit. You need to think about a lot of aspects. But most importantly, you need to find a place that is worthy of your investment. Luckily, Florida is packed with places that are suitable for this kind of business. But today, Big Man’s Moving Company FL is going to show you all the pros and cons of buying a property in St Petersburg and renting it. Let’s take a look at reasons why you should and why you should think well before you do.
St Petersburg is a fairly big place with a lot of opportunities when it comes to buying a property
St Petersburg is located in Pinellas County, Florida with a population of 261,338. It offers an urban-suburban mix feel with a lot of parks, beaches, restaurants, bars, and coffee shops. Even though it is considered the 4th best place to retire in the whole US, St Petersburg also has a large number of young professionals and families who live here.
Of course, besides above average schools, developed job market, safety, great weather, and low cost of living are the main reasons for this. Movers St Petersburg FL have noticed that this place is seeing an increase in inbound moves in recent years. So this may be the best time to invest in St Petersburg rental. Let’s take a look at the facts:
- Population – 261,338
- Median home value – $205,000
- Median rent – $1,116
Pros of investing in St Petersburg rental
The median home value in the US is $217,500. This means that it is fairly cheap to get a property in St Petersburg. And that is always one of the most important things to consider when investing in this kind of business. On the other hand, Median rent is higher than the national average. The median rent here is $1,116 and the national average is $1,062. This means that you can buy a property cheaply and rent it expensively. A perfect combination in this business.
And when you consider that last year this place had an appreciation rate of a staggering 10.2%, you will understand this is also a good long-term investment. Moreover, after hearing this fact you may consider moving there yourself. Just make sure that you hire good long distance movers Florida if you do.
Cons of investing in St Petersburg rental
Luckily there aren’t many cons of investing in St Petersburg properties. One of the things that someone may consider a downside is a cost of hiring property managers. They like to use the popularity of this place and ask for higher amounts to take care of your property. But you can easily beat this by hiring interstate movers Florida, moving here on your own, and taking care of your properties by yourself.
Why don’t you move here as well?
As you can see investing in St Petersburg rental has many pros and very few cons. That is why we undoubtedly recommend this place for your future investment. And not only that. We suggest you move here and enjoy St Petersburg, FL with your family as well.