With many investors now concerned about what the future will bring, the small, historic town of Galax in southwestern Virginia has been attracting lots of attention. Investing in Galax real estate is an option very much worth exploring, for a number of reasons.
Even when the stock market is booming, savvy investors are always considering other options. When the slightest bit of uncertainty sets in, other investors start fleeing equity markets in pursuit of safer havens.
Real estate has been a standby among informed investors for many years. Investing in the right types of properties in particularly promising markets is a long-proven recipe for generating outstanding returns.
A Quiet Market That is Ready to Rev Up
The population of Galax peaked with the 2010 census and then declined a bit. Like several other towns in surrounding Carroll County, that has helped Galax avoid the skyrocketing property-price appreciation that has since prevailed across so much of Virginia.
With a statewide market described as “very hot” by at least one online authority, the Commonwealth has become nearly unaffordable for many residents. Galax is still a place where the kinds of real estate bargains that once drew so many to Virginia are common.
People who find themselves priced out of larger markets tend to turn their attention to smaller ones. Galax is well-positioned to benefit from this sort of shift as Virginia inevitably keeps growing.
Investors who buy Galax real estate now can profit from this in at least two distinct ways. In addition to being able to get started affordably, they can expect their properties to perform well with regard to:
- Rents have been rising steadily across Galax in recent years, is a reflection of the city’s ongoing turnaround. This trend has developed recently enough that investors who become involved now can still take full advantage of it. Relative to the prices paid for rental properties, investors can expect healthier recurring income than in most cities.
- While properties in Galax are still highly affordable by statewide standards, that is bound to change. Once again, investors can expect to receive a lot for their money at the moment while enjoying plenty of potential for appreciation in the future.
There’s Still Time to Get in on the Ground Floor in Galax Real Estate
Combine these facts with the attractiveness of property as an investment in general, and there are some excellent reasons to look into Galax real estate. Take stock of how so many are now predicting higher levels of inflation, and buying an investment property in Galax looks like an even better option.