What are the Benefits of Buying a House with Cryptocurrencies?
As cryptocurrencies gain popularity and more people are using them to purchase everything from meals to real estate, many people want to know about the benefits of using them to purchase property.
While the use of cryptocurrencies like Bitcoin hasn’t become extremely wide spread in the real estate world, we are seeing more interest every day. As the use and money generated from these currencies continues to grow, we don’t see this trend going away any time soon.
If you have some cryptocurrencies and are looking to buy real estate, there are many advantages you should be aware of.
Making You More Attractive to Sellers
While the use of Bitcoin and other currencies is not common place in the real estate market, it is gaining steam. In many of the markets we work in, especially the San Francisco/Silicon Valley area, we’ve been dealing with low inventory and a hot seller’s market for the most part over the last couple of years.
Anything that makes you more attractive to sellers is something you should consider. And believe it or not, using cryptocurrencies to purchase a house could be just the thing to shoot you to the front of a seller’s consideration list.
- Speed of Transaction: When dealing with cryptocurrencies the exchange happens extremely quickly. Doing business in this medium is even faster than cash! If you are willing to pay this way you’ll have an advantage over other potential buyers using traditional loans or even cash.
- Less Hassle: If you’re dealing with international sellers especially, there is less hassle when paying with Bitcoin. Given the amount of foreign property owners in our neck of the woods, this is a very common occurrence.
- People Want Cryptocurrencies: A lot of people are looking for ways to get started with investing and using cryptocurrencies. Many are finding that one of the easiest ways to do so is to accept it while selling something they own.
Opening up to Different Sellers
By being one of the few buyers out there who is able and willing to pay for real estate with cryptocurrencies, you’re going to open yourself to sellers that might otherwise not have wanted to deal with you.
This could include international sellers who seem to be more comfortable using cryptocurrencies than sellers here. The growing list of those who have made their money (sometimes a lot of money) with cryptocurrencies would also be more interested in doing business with you. A lot of these people are bullish on cryptocurrency and don’t want to get out or have to worry about turning your cash back in to cryptocurrencies.
Reduce Your Volatility
While we’ve mostly focused on how using cryptocurrencies to buy a property would make you more attractive to certain sellers, there are some serious advantages for you directly.
Cryptocurrencies have a reputation for going up and down a lot, sometimes very quickly. Some experts are saying there is even a bubble in them now that is waiting to burst. So, instead of putting all of your eggs in one basket using cryptocurrencies to buy real estate would help you diversify and reduce the volatility.
Real estate has its ups and downs but even during the worse times we’ve never seen volatility like we do daily in cryptocurrencies. By converting your cryptocurrencies into something tangible and relatively less risky, you are making sure you won’t be hit too hard if something bad happens in the crypto market.
Have More Questions?
If you have more questions about how and when to use cryptocurrencies for real estate, or any other question for that matter, give Jamec Blue a call.
Jamec Blue has over $10 million in sales and with a host of happy clients, he’s the real deal. Give him a call at 510-541-7489 or visit https://calpre.com/today for more information.