Among their many plans for the new year, some may be hoping to purchase property, typically either a residence or a commercial investment. Each year brings new factors to consider when making what is often the largest single purchase of a lifetime, including the economic climate and cultural shifts. In examining the trends, real estate analysts have come up with some strategies that may be useful for those in Louisiana who may be in the market for a home or investment.
Advisors have long encouraged investors to include real estate in their portfolios because of its high performance and stability. Commercial real estate may be particularly valuable, especially if the investor is savvy and keeps up with trends, including the movement toward opportunity zones. Nevertheless, commercial investors should be aware of the continuing pressure that e-commerce places on brick-and-mortar stores, so investors are moving toward those enterprises, such as gyms and restaurants, that do not compete with e-trade.
As for residential purchases, the market is likely to see younger people buying homes in 2019. Baby boomers continue to downsize, selling large homes and moving to rentals. However, it will be interesting to see how the decisions of the government affect the real estate market. For example, immigration policies have driven up labor costs, which means new construction is becoming more expensive. Much of new residential construction includes communities established with rental properties surrounding popular amenities.
While the trends and movements of the real estate landscape may change from year to year, those who undertake a major purchase find one constant. They will have to deal with the complex and stressful process of a buy/sell transaction and the many related legal issues. Seeking advice from a Louisiana attorney can prove helpful to reaching one’s goal of a successful property investment.