California is widely known as one of the best places to look for prime real estate investments. It is constantly in high demand, and many are attracted to the climate in the area. Though there are extremely pricey areas, there are also smaller suburbs that have gained attention over the years for both their affordability and location.
A few years ago, it would have been a no-brainer to invest in small suburbs here, but the market is constantly changing. Taking a look at some of the most desirable areas in the state, this article will help identify if these areas are still good investment opportunities or just good places to find low-cost homes.
Russian Hill
An increasing number of young people are moving into the area of Russian Hill. It is packed with a lot of cafes, boutiques, and trendy stores that attract numerous professionals. The best part about it is that it offers a good balance because it is near the center but also a bit more secluded. This neighborhood is known to be peaceful but also near a lot of good restaurants and destinations.
Buying real estate in this area would be a good investment because it offers high quality of living. Even if you decide not to live in it, Russian Hill homes can be rented out and have high demand, which can be a good business opportunity. Based on analysis from last year, the area is still in high demand. In fact, the neighborhood saw a moderate increase in demand when compared to other San Francisco neighborhoods.
In the past, this area has been known for its high prices, with two-bedroom condominiums costing as much as two million dollars. Although prices appear to have dropped this year, experts mention that they saw an increase in interest, particularly from employees who got tired of living with their parents.
La Mesa
An area that is high on the list of family-focused couples is La Mesa. It is known as a safe and beautiful suburb area with a lot of natural landscapes. The area offers moderate climate, accessible areas, and walkable streets, which is what makes it a popular choice for those that have or want kids. One of the best things about it is that it is in close proximity to downtown San Diego.
One of the main benefits of buying property here is the low cost. Compared to other places in San Diego, La Mesa is relatively cheaper in both land and rent. It would be a worthy investment, especially if you are considering renting out the house or getting tenants. Statistics show that more than half of the residents there actually rent their homes.
Stockton
Stockton once ranked 20th on the 300 best real estate markets, and both buyers and sellers saw huge advantages from buying properties here. The city has a high appreciation rate, and a significant number of people there are renters. Appreciation rates in Stockton each year have always been higher than the national average.
A good reason demand in properties here is so high is due to its strong economic growth. The area is known for its rapid job growth; people from all walks of life live in this city. It has a simple shopping district with a fair amount of restaurants. Since the majority here are renters and property is affordable, this can be a good source of passive income.
However, one of its major issues is its high crime rate. Though it is in high demand for those looking for cheap places to stay near their jobs, some may be put off by its reputation.
Valle Vista
This area has been consistently added in Niche’s best neighborhoods to buy from. It is a quiet and simple suburb area that is known for its numerous cul-de-sac areas. Most of the people that go to this place usually buy to own as opposed to rent. The population is fairly small, and crime is usually harmless here.
The main perks of living here are the mountain view and weather. Compared to other parts, the summers are not as intense. It is a good option for those who want to live minimalistic as life here is not as exciting as other parts. However, there are enough stores around for a person’s basic needs. Valle Vista is a viable option if you are looking for an affordable place.
