Francisco “Kiko” Angulo is the Vice President of Global Development for REALOGY.
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The number of people who have asked me for help evaluating their properties throughout my life is probably higher than I care to confess. My real estate endeavors began as a broker in 1994, over 27 years ago, divulging just how old my career in real estate is (and how old I am).
A few weeks ago, I tested positive for Covid-19, which completely transformed my life. A friend recently inquired about the value of their property, which I usually respond to by weighing a few criteria and providing a numerical estimate of the home’s worth. Instead, I found myself on the verge of tears.
After the enormous relief that my Covid-19 symptoms showed up while I was in the comfort of my own home, I can’t help but evaluate the many ways owning a property can be beneficial.
Private Shelter
Covid-19 gave real estate professionals an opportunity to remember the importance of homeownership from a more personal perspective. Do you recall returning home after a long vacation and inhaling as much air as your lungs could take before letting out a loud sigh? You’re at ease. You’re at home. You have a sense of security. Your home is your shelter to share all emotions, from the most incredible happy moments to the stressful, sad situations.
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Owning a property has made me feel safe. Home is where I eat, cry, laugh and love. It was easy for someone who is so used to putting a numerical worth to properties to forget the great importance of homeownership as a private shelter — this year was a big reminder.
After a year where the entire planet experienced the importance of having a place to call home, it is of crucial importance that real estate professionals provide exceptional service to their clients. Home is your best place to reset and continue.
Rental Income
Another reason to get into real estate is purchasing with the idea to rent. Buying a home with the goal of renting it out on a monthly basis can be a very profitable financial strategy.
In my case, it has given me a greater sense of financial security. I rent to people I know and trust, and I make sure they’re encouraged to personalize the place. Everyone, whether they live in a rented or owned property, deserves to feel at home. Tenants are protecting my property, and they should be treated with respect so they can feel like part of the refuge.
While a rental real estate investment can be a fantastic method to increase your wealth, there are a few things to consider for it to work effectively. Understand the property’s expected return on investment (ROI), as well as the current housing market and your ability to keep it rented out.
If you’d rather entrust this task to a professional, there are a wealth of outstanding real estate experts who can assist you in better understanding each factor. The goal is no vacancies; stop the greed, and keep it rented.
Job Creation
I am a naturalized United States citizen and an incredibly grateful one. I value the American dream and have worked hard over the years to create opportunities for others.
Every time someone buys a home, a team of professionals comes together to make the process as easy and pleasant as possible for you. Thanks to the purchase of your home, jobs are preserved or created, and the American economy helps countless families continue to thrive.
Purchasing a property is a win-win situation in which someone enjoys home stability and everyone involved gets compensation for their hard work. I’m not suggesting that anyone buy a home to create jobs, rather, I’m pointing out that the social dynamic of homeownership allows for job creation to continue.
These are just a few distinct rational and emotional reasons I strongly encourage people who can afford to purchase a property to do so. At the end of the day, whether you’re doing it to increase your wealth or gain peace of mind, the purchase of a property is often the most expensive purchase a person makes in their lifetime. It is important to be crystal clear about why you’re doing it and understand the risks involved in the process. Contact your local real estate professional if you need further assistance.
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