When purchasing investment properties in South Carolina, one of the most crucial factors to consider is where these homes will be located. There are many cities in South Carolina that are perfect for rental investment, but we happen to really love the opportunity for property management in Columbia SC. Columbia is one of the most historic towns in the state and was an integral part of the mercantile economy during colonial times. If the historic charm does not convince you to invest in rental properties in Columbia, there are a few other factors that might!
- Lower Priced Homes- Columbia has been ranked as one of the top 25 most affordable places to live in the entire country. The average home price is 11% less than the national average with a median price of $164,200.
- Outdoor Recreation- Property management in Columbia SC can also manage vacation homes and short-term rentals which are nearly always full because of the great outdoor recreation Columbia has to offer.
- High Demand- Columbia has a steadily high demand for single-family rentals because the low cost of living and reasonable rent rates attract families from all over the state. Most neighborhoods in Columbia have a dense population and employment growth also which brings new people to the city.
- Buy from Snowbirds- Retirees who want to spend their winters somewhere warm often purchase small homes or condominiums in Columbia. When these people cannot travel any longer, they often look to get out from under these homes for cheap. Investors can scoop these properties up for great deals.
- Rent Yields Are High- Because homes are so affordable in Columbia, investors who can get low interest rates and great tax incentives can often see a much higher rent yield than other areas around the state. This means that the profit you make will be higher.
Buying property in Columbia SC is the best choice for first time investors looking to get into single-family home rentals. The key to success is having a top-notch property management in Columbia SC partnering with you to manage these homes.
If you are ready to discuss the opportunities property management in Columbia SC can offer your investments, call Scott Properties of the Midlands at 803-951-0702.