Of all the different forms of investments out there, real estate has long been one of the more lucrative. Having an array of properties to sell or rent out can be a relatively easy way to make some money. And because it’s not too difficult, more and more people are jumping on the band wagon of Arizona real estate investing.
Like a lot of things in life, things aren’t always as transparent as they seem. The truth is, if you want to become a successful real estate investor it’s going to take some work.
To excel in Arizona real estate investing, you must become an expert in your art, and this usually comes with experience. Getting into the process, networking, trying different things, are all ways to gain experience.
Sometimes experience gained isn’t always about time. You can be a real estate investor for 30 years, but if you didn’t do much then you probably don’t have any real valuable experience. However, if you were a go getter and tried as much as possible, failed as soon as you could, then you’d come out much more experienced in a shorter amount of time.
Along with knowing when the right times to sell are, you must also consider budget. Budget is the ultimate factor that decides what is affordable, and how much you can eventually make.
For those living in Arizona with a deep pocket, there are some truly incredible areas to invest in the property market. Let’s go over the top 5 cities in Arizona with the highest average property price!
Just outside Scottsdale, AZ is Paradise Valley, the wealthiest neighborhood in Arizona. It’s a stunning part of the state, with average property prices around $3.35 million.
Stars such as Muhammad Ali, Alice Cooper, Alicia Keys and Michael Phelps have all lived in the area. It is one of the most desirable locations in Arizona and if you have a few million dollars in change, then this may be the next place for you to check out.
Around the corner from Paradise Valley is Scottsdale and there’s no shortage of luxury homes here either. You’ll find some incredibly beautiful properties in the area with an average price of around $989,000.
Much like Paradise Valley, many famous residents like Charles Barkley, Kurt Warner, and Emma Stone have made this area home.
There is a plethora of local amenities in Scottsdale, excellent schooling, and an arts festival noted as one of the finest in the country. Scottsdale is home to around a quarter of a million residents.
Just North of Phoenix is a perfect little peaceful town called Cave Creek. This is a fantastic area to invest in. Property values are an average of $830,000 and continues to rise as demand to live in the area increases.
This town has deep rooted history, with a variety of museums and original structures still in place from when Native-Americans first settled. The town is also famed for its former gold mining industry.
The homes in this area are generously spacious making them the perfect properties for those who want to feel like they live in a luxurious mansion-sized estate.
Just beside Cave Creek is Carefree, where you can find average housing values around $818,000.
It’s a small community with only around 3,000 residents. This makes is a popular place for those retiring. You’ll also find many people wanting to move out there for the hiking and lots of outdoor activities.
There are also several amenities including many gourmet restaurants making it a very desirable location for the elite.
Back towards the Scottsdale area we find Fountain Hills, AZ. It’s the 5th most expensive place to live in the state, with prices generally sitting around $760,000.
Fountain Hills has a population of around 22,000. In the middle of the town is a large fountain standing as a monument, shooting up to 560 feet tall.
Many people see Fountain Hills as a good investment to either retire into, rent out to older residents or even sell once the time is right.
In addition, the schooling district are fantastic and there’s plenty of space to get out away from the city to enjoy some nature.
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