Are you a new investor in the area, wondering if it’s wise to invest in the Chandler, AZ real estate market? Investing in real estate offers a person a great opportunity to maximize their ROI and diversity their investment portfolio!
Before you can make any decisions on where to invest, you need to dig further into trends to understand the market’s nature and what it has in store. Let’s take a look at some of the recent positive trends in the Chandler housing market.
This post will enlighten you on evidence-based reasons why you should invest in Chandler, Arizona’s real estate market, and benefit from strong returns.
The Ever-Growing Demand
Property investors are always advised to look for a market that is steadily growing. Phoenix, Arizona’s metro area, as a whole, has been growing consistently over the years and it appears that this trend is bound to continue.
The area has recently been a hub for real estate investment. The Chandler real estate market is still growing at a 2%-5% percent annual rate. The trend of rising values is expected to continue. If you are an experienced real estate investor, you might be able to enjoy higher ROIs through prudent investment in the right neighborhood.
If you are unaware of the ideal neighborhood in Chandler, you can contact the experienced team at Property Plus USA. Our experts know the region like the back of their hands. We will be able to offer you customized advice taking into consideration your financial obligations and investment goals.
Chandler has created a niche for itself as a tech hub with companies such as PayPal, NXP Semiconductor, and Intel setting up shops nearby. Other notable companies include Microchip Technology, Wells Fargo, and Northrop Grumman.
As a landlord or real estate investor, knowledge of a strong and attractive job market bodes well for you. This is because it means that more people will be drawn to the area and looking to rent.
Real estate investment earnings have outperformed the state average due to the growing IT job sector. As a result, it has attracted a large number of people to Chandler. This means you could potentially market your properties to both young professionals and families moving to the area for new job opportunities.
The Vast Student Market
There is a large student population in Chandler, which investors can choose to take advantage of this by leasing out space to the large pool of students. As a landlord, you can also lease out your space to students attending any universities in Chandlers or surrounding areas.
Make sure that if this is the tenant demographic you wish to target that you’re investing in properties that offer students attractive amenities, with easy access to transit systems to get them to and from campus.
Rental Laws in Arizona are Landlord-friendly
The state of Arizona has earned a reputation for being a landlord-friendly environment. This is especially true when compared to other high-performing states like California. An example of this is that a landlord has the right to recover the property if it appears that the tenant has departed. Whether a renter has broken the lease or has failed to pay the rent, eviction is straightforward.
When looking to buy an investment property, it’s comforting to know that there are laws in place protecting you and your rental business.
Market for Retirees
Students, vacationers, business workers, and young couples are not the only demographic that you can target by investing in Chandler’s real estate. There are a number of master-planned neighborhoods geared for elders. You can market your rental property ideally to those looking to escape the colder regions of North America and settle in a comfortable community with excellent weather.
Short-Term Rentals in a Hot Climate
There’s no shortage of attractions and activities in Chandler and the surrounding areas of Arizona. Because of this, there is a strong tourism market in the state. As an investor, you may consider buying a property for the purpose of marketing it as a short-term, vacation rental rather than a long-term one.
Be sure to brush up on all rental laws in the state to ensure that you’re complying will all provisions. If you’d like help doing so, contacting a property management company could prove to be beneficial.
Chandler’s Tax Burden Is Relatively Low
If you’re considering investing in Chandler real estate, the property tax rate should draw you in almost instantly. The amount of property taxes paid is averagely equal to less than a percent of home value. Property taxes, both state and municipal, total around $1100 per year.
Investing in Chandler real estate could be the best decision you make this year. Over the past few years, Chandler’s annual real estate appreciation rates have been relatively strong and investors have seen positive returns on their investments.
Whether you own one property or a large portfolio, it never hurts to have professional help. At Property Plus USA we offer property management and investment services in Chandler. Our experts maintain Chandler rental properties and keep them occupied by quality renters who look after the place and pay their rent on time.
Allow our management team to assist you in optimizing your earning potential and fulfilling your financial goals. Contact us today to learn more about our property management services!