Why Commercial Real Estate Investments are a Good Idea
The United States is still bouncing back from the recent recession, which is enough to make you hesitant about investing money anywhere that is not necessary to maintaining a good quality of life. However, because of the recent growth in the commercial real estate industry, now might be the best time to bite the bullet and make that investment. Just make sure you protect the property you purchase with Real Estate Insurance.
Currently, for examples, hotels seem to be the best investment in the New York real estate commercial sector. Because hotels, both full service hotels and limited service hotels, such as a Courtyard by Marriott generally, benefit the most from a stronger economy, now seems to be the ideal time to invest in them as the economy is just now beginning to fully recover to pre-recession levels.
In fact, in April of this year, hotel sales increased 27% from earlier in the year, making them a solid investment and outpacing the growth in another area of the commercial real estate sector, multifamily apartments, which are typically seen as the best investment in commercial real estate.
Even office spaces would be a solid investment choice for you as long as you protect your assets with New York real estate insurance. Many companies are moving away from the traditional office space in order to accommodate the amenities that the Millennials who are now joining the work force prefer. As more companies update their offices to reflect these preferences, the potential for return on an investment can only grow.
Despite still trying to recover fully from hard economic times, it is important to think of the best long-term financial decisions. It is entirely possible that the best choice for you is to look into acquiring some commercial real estate and New York real estate insurance to help achieve those long-term goals.