How to Get the Biggest Bang for Your Buck in a Thriving Market

ESTATENVY breaks down what's hot in today's real estate now.

The 2018 housing market is hotter than ever, giving homeowners every reason to put their house on the market and get the most bang for their buck. According to MarketWatch, homeowners should look to sell their homes before the year 2020. And that’s exactly what the current trend exemplifies. Homes are selling fast - and for affordable prices. In a recent report from Zillow Group Inc., in 2017 the average U.S. home was on the market for 81 days before selling.

Although homes are selling quick, one segment of the market that isn’t doing so hot, so to speak, is the luxury homes market. According to Forbes, it’s not that Americans can’t afford this higher priced segment, the demand just isn’t there for luxury homes. In the housing market, excess inventory means lower prices. The abundance of luxury homes readily available for purchase means prices are driving down on these homes.

Houses aren’t the only hot sellers on the market at the moment. Apartments are also a great option for those who may not be ready to buy. Because of the new tax law implemented this past year, it is making it more expensive for homeowners to buy - giving consumers the chance to look favorably upon renting.

Chief Business Development Officer and leasing agent, Stephanie Spenner, says that she has noticed that clients will pay more to rent a place that suits their needs, versus buying.

Luxury apartments are also another option for those not ready to buy quite yet. If you might be confused on what exactly entails a luxury apartment, think amenities. These apartments maximize their appeal based on the lavish amount of amenities they can offer a client, such as a gym, pool, sauna etc. all included in the monthly rent price. This luxury apartment trend is highly influenced by millennials. For many, location and functional space are the most important factors when looking at where to rent. Luxury apartments often provide the specific niche market what they are looking for.