Micro apartments are a new real estate trend that is picking up steam, and fast.
So, could it be the highly profitable real estate investing niche you have been looking for?
The micro apartment trend is booming from coast to coast, from Massachusetts to Southern California, and it isn’t just about affordable housing or for those priced out of buying a home or on a tight budget.
Micro apartments typically range from 300 to 500 square feet and are a hot choice for young professionals and tech workers that are looking to waste less on housing that they spend little time in. Even ultra-wealthy millionaires are turning to them for more simplistic living in urban areas. At such desirable prices, why not grab one of these and have a homey crash pad waiting for you whenever you feel like jetting into New York City, San Diego or Miami?
These miniature apartments may not sound like they offer much living space, but innovative designs can offer incredible versatility and even allow for entertaining in just a few hundred feet. Many of them also offer access to more community facilities and activities right on your doorstep.
However, for the real estate investing crowd and those considering building or buying and selling micro apartments, watch out for lender restrictions on square footage and loan amounts or you could get caught short.
If you are considering taking advantage of this trend as a real estate investor, you’ll need to get in quick, as local government can restrict the number of these units allowed due to families who need room to maintain a growing population and to support long term economic growth.
Are you a fan of the micro apartment trend, and would you live in one?
