Real estate is one of the best and most time-tested investment options that that you can involve yourself in. Experienced investors know that real estate can provide reliable income, tax deductions, and consistent growth in value. But you can only enjoy the full benefits of property ownership and leasing if you invest in the right location and neighborhood.
With close to 2 decades of experience helping property investors and managing rental property, we at the Level Property Management Group believe Fairhope is a great place to realize your investment dreams. To that end, we have compiled the following article to show any investor exactly why Fairhope is a great place for their invest investment.
A Growing Population
As a landlord, you should keep an eye on the growth of the population in the area you are investing in. Population growth usually precedes an increase in housing demand and giving you a chance to maximize the potential of your rental, bring in higher returns.
With this in mind, over the past decade Fairhope has experienced a burst in its population. This should be music to the ears of any real estate investor looking to invest in Fairhope real estate. As, if there was a time to invest in Fairhope, it is now.
A Vibrant Economy
A stable job can go along way to assure you that a renter can meet their financial obligations. Resulting in a more consistent stream of income for you.
The economy in Fairhope is quite diverse with a variety of industries including agriculture, construction, retail, transportation, and finance giving the city great economic stability. Thanks to the variety of employment options, the unemployment rate in Fairhope is down to single digits.
Buyer-Friendly Housing Costs
Compared to other forms of investment, the entry cost of real estate investment is high. Investors are always looking for affordable options so that they can start their real estate journey quicker. Fairhope fits this description completely.
The median cost of a home in Fairhope is substantially lower than the national average. So, you should be able to easily afford an investment property in Fairhope compared to if you were to invest in Huntsville, Birmingham, or Montgomery.
Range of Investment Options
In Fairhope, you are not limited to one type of real estate investment option. You have a wide range of real estate in Fairhope to choose from including detached housing, condos, townhouses, commercial properties and many more.
For those who would like an investment option closer to the action, you can consider downtown Fairhope. Here your main type of renters will be the professionals who prefer the entertainment options that are in close proximity.
You could also choose to invest in Fairhope’s suburban areas. The two notable types of investment options here are either bungalows or maisonettes (both are single-family residences). Multi-rental options are also available. Thanks to its location next to the bay, you can also invest in a beach-front property.
Thanks to the use of vacation rental applications such as Airbnb and Booking.com, investors have the option of choosing the short-term vacation route. You can also ask our experts at Level Property Management to advise you on the best amenities and fittings that will lure in those types of renters.
Plenty of Attractions and Activities
With the growth in Fairhope’s population along with the many businesses that are now finding a home here, amenities and attractions would not be fair behind. To this end, Fairhope has introduced many different attractions to keep its residents happy.
One notable mention is the Fairhope Private beach. While may might be required to pay an entry fee, the beach is well-maintained and offers many different entertainment options. You can fire up the barbeque and grill your own meat and after enjoying a game of volleyball or use of any of the other equipment on the private beach.
Low Cost of living
The discussion going around the country and the world over is the rise in cost of living. Inflation has surged leading to an increase in the cost of gas, utilities, and food. The rational renter will be looking into where they can cut costs and still enjoy quality housing.
Residents of Fairhope tend to pay less for transportation, healthcare, insurance, and utilities. The reduced cost of living allows them to make savings that can be channeled towards education and investments.
Renters are also considering housing options in places like Fairhope thanks to the implementation of work-from-home policies in companies.
Many Events in the Community
What makes Fairhope a target for families is the community events that are held throughout the year. They help new residents fit into the community and are also the perfect way for the residents to know one another.
Some of the worthwhile mentions include the Springs Arts & Craft Festival during the spring and the Lighting of the Trees which is held in November in preparation for Christmas. For both events, the city comes alive with visitors from the neighboring suburbs.
With its affordable housing, cost of living, and great location, it is no surprise that investors and are looking for opportunities in Fairhope. But that is not the only thing that you should consider. To grow your real estate investment, you must also be prudent and create reliable property management strategies for your rentals.
While some landlords prefer self-management, you need not go the same route. Unburden yourself by relying on the leading service provider in the region, Level Property Management Group.
We manage hundreds of rental properties in the region and have established ourselves as the go-to company for all things property. You can rely on us to offer you sound and professional advice to