An Industry Veteran Explains His Move to the Silicon Desert
I’ve concluded that Phoenix, Arizona, is one of the best places in the United States to invest in real estate. I’m so confident in this that I moved there! You may not always be able to invest where you live, but investing where other people want to live is a nearly failsafe move. Here, I’ve used the Phoenix area to highlight some things that consistently bring in the buyers.
Lots of Sunshine
Imagine living in Seattle for 40 years, as I did. There are only 71 days of full sunshine per year in Seattle. Some people will tell you that the number is 164, but they are counting any day with even 15 minutes of sunshine. Either way, that means there are far more non-sunny days than sunny ones.
Phoenix, on the other hand, is definitely sunny. After coming from Seattle, enjoying 211 completely clear and sunny days has been a welcome change. I’m not the only one to think so, either. In fact, in a 2014 study by WalletHub, Arizona weather was dubbed “third-best in the nation.”
In terms of real estate investing, buying property where people wish to buy makes a lot of sense. With Phoenix ranking in the top spots in the U.S. for happiness, it is a great place for investing in property.
Phoenix is for Foodies
I have never been to any city that has as many great places to eat as Phoenix. Even after four years, I am still finding excellent, “new to me” places to go with unique offerings, such as:
Farm to Table: These restaurants that serve food harvested just hours before being prepared. The great thing about these restaurants is that the menu changes seasonally, giving you a new experience each time.
Cowboy Steakhouses: If you like a large steak and the feeling of dining in a saloon, then one of the many cowboy steakhouses in the area will be perfect for you. Dinner may include live country music or other forms of entertainment.
Mexican: You’ve not tried great Mexican until you’ve tried restaurants in Phoenix. Whether you’re looking for creative, out-of-the-box fare or classic standbys, fancy dining or a hole-in-the-wall, we have it.
Coffee Shops, Ice Cream, and Bakeries: Despite the heat, coffee shops and espresso bars are still “hot” in Phoenix. Whether you want a good hot cup of coffee, a latte, or a cappuccino, you can find just what you want. Ice cream is also a “hot” commodity around town and one of the best ways to cool off while enjoying the beautiful sunshine.
Breakfast & Brunch: Whether you’re looking for a hearty farm breakfast or something natural and organic, there is something for you. On Sunday, some of the best places to find a great brunch are located at major hotels and resorts.
This is just the tip of the iceberg. No matter what you want, from European fare to comfort foods, Phoenix has what you are looking for.
Restaurants matter! According to a Nielsen Company survey, 62 percent of Millennials, the fastest growing group of real estate buyers in 2017, prefer to live in communities that are close to shopping and restaurants.
Although Phoenix has just about anything you want right within the city, people living here have the option of exploring. Here are several places within driving distance of Phoenix:
Mexico: Perfect for a quick international jaunt that is a mere three hours by car.
Flagstaff: Feeling the need for pine trees? Want to go snow skiing? The answer is just two hours away.
Sedona: A one and a half hours drive takes you to beautiful red rocks and hiking.
San Diego: If you want some Southern California nightlife, head west for five to six hours.
You know the oldest adage in real estate is “location, location, location.” With Phoenix so close to so many diverse locations, it becomes a great location for investing.
Few Traffic Problems
Phoenix has a traffic grid that works despite the metro area being the fifth-largest city in the United States.
This is another reason why people living in Phoenix are so happy. A study conducted by the University of Waterloo has shown that the shorter your commute to work, the higher your level of satisfaction with life. Due to the great traffic patterns in Phoenix, commute times are much less than other major cities.
Big City Amenities
Phoenix, as one of the largest cities in the United States, has the amenities people are looking for.
Sporting Events: Phoenix is one of only a dozen cities in the U.S. to have MLB (Diamondbacks), NHL (Coyotes), NFL (Cardinals), and NBA (Suns) teams. You can also enjoy soccer with Phoenix Rising, women’s basketball with Mercury, NASCAR, and college athletics with the Pacific 12’s Sun Devils and Wildcats.
Golf: Over a dozen courses right in Phoenix with dozens more within driving range.
Spring Baseball Training: 15 different MLB teams across ten stadiums all within driving distance of Phoenix.
Bowl Games: If you love football, then you’ll love that Phoenix is often home to bowl games, such as the Fiesta Bowl.
Auto Auctions: If you’re in the market for a vehicle, then you won’t want to miss the auto auctions in the area, such as Barrett Jackson, Payless, and Copart.
Since people want to live where they play, Phoenix is a great city for real estate investing.
Once I arrived in Phoenix, I realized that the move I already thought was nearly perfect for me was even better than I had imagined. You can’t always invest where you live, but sometimes things work out perfectly.