Eric McCandless/ABC
If you're looking for affordable, value-for-money properties, money expert Barbara Corcoran knows where to move.
The real estate mogul was recently a guest on “Elvis Duran and the Morning Show.” During her guest appearance, Corcoran Duran shared her top advice for successfully navigating the real estate market.
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If Florida is off the table, move here
As they discussed the real estate market, Duran discussed the massive migration boom to Florida during the COVID-19 pandemic. Now, Duran said, that real estate boom is spreading to other areas in Florida. If it's too late for potential buyers to invest in a home in Florida, where should they move to get great home value?
“Go anywhere that has a bad school district where the prices are really low,” Corcoran said. She added that this approach should only be taken by buyers who do not want to raise children and want to offer a home at a reasonable price.
“Go anywhere south except the hotspots,” Corcoran recommended. “There is always a cheap house to buy, always.”
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Is cheap living abroad legitimate?
Medha Gandhi, co-host of “The Elvis Duran Show,” asked Corcoran for her opinion on ultra-low-priced homes for sale abroad. Gandhi used the example of a small Italian village that sells a house cheaply, which the buyer only needs to renovate after purchasing. Are these offers a scam?
“It's not a scam… I actually traveled around Italy and saw these houses and went in and looked at them,” Corcoran said. “The problem is that no one lives in these cities. Why would you go to Italy to live alone?”
The best time to buy a house
While Corcoran was a guest on the show, Duran said he had never heard Corcoran say this wasn't a good time to buy a home.
The story goes on
“It's always a good time [to buy]Corcoran said. “I think the earlier you get into the market, the sooner you have a chip in the game.”
The purchase should also be more than just an investment.
“You only get one chance to live,” Corcoran said. “You're not just buying an investment, you're buying a house where you can raise your children, have a good time and cook in your kitchen. They want to gain a foothold in the market.”
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This article originally appeared on GOBankingRates.com: Barbara Corcoran says: “Forget Florida, move here to buy cheap houses.”