If you’re planning on making a property investment then your first decision should be where to purchase. Certain areas are always more profitable than others, and some just keep getting better. So where do you spend your hard earned money in the Seattle area? These property management tips should get you started on choosing the best places to purchase, own, or rent out property.
Bellevue
Bellevue was named the top 40 place to live in the United States by CNN in 2012. The small Seattle area town also has some of the best schools in the state, meaning that the area is attractive to families as well as students and workers. There are actually more people employed in the area than living there, but many of them would move to Bellevue if given the chance. Investing in higher end apartment complexes, condos, and family homes is almost guaranteed to be profitable, so long as the property is acquired or built for a reasonable price.
Kirkland
Kirkland is an attractive place to live for many people because it is just across the bridge from Seattle and is a very beautiful city. With its own shopping center, and a lot of very beautiful parks, the city has its own attractions, but very centrally located. Some of the benefits include that Kirkland is pretty much right on top of both Bellevue and Redmond. The area has plenty of jobs with the Microsoft headquarters located in Redmond, so there will almost always be tenants for housing rentals. Kirkland is also an attractive place for commercial property managers to move in because the locals love new stores that are located nearby.
Redmond
Redmond actually made CNN’s list of the top five best places to live in the United States in 2012 which is definitely a great reason to invest in property there. With the Microsoft headquarters stationed right there, property is very attractive to anyone who works for Microsoft meaning that family homes and condos are definitely in. Added to the fact that many high end job positions are in the area, rent is high and rises frequently. Property investors can also look for commercial property as locals often frequent nearby shops and businesses rather than driving to Seattle.
Issaquah
While not the most well-known city in the Seattle area, our Issaquah Property Managers know it is definitely one worth paying attention to. Forbes ranked Issaquah as the 89th fastest growing city in the United States and the 2nd fastest growing in Washington. That means more jobs, opportunities, and businesses are constantly sprouting up, which makes it very open to investment potential. An investment now could be much more valuable in ten years when the area has a stronger economy. For now, attractions include a zoo, local festivals, and various historical places that make Issaquah a culturally rich place to live.
Bothell
Bothell and Lynnwood tie for the last spot but, because Bothell is a little closer to downtown Seattle, it takes the top spot. The city is located near Kenmore and Woodinville and does have a portion of interstate 405 running through the area. However, with a median household income of $105,000 per year, the locals definitely have money to spend on your investments. Our Bothell Property Management team will help you have success with investing in property here.