Home Buying in Phoenix>Question Details

Drew, Home Buyer in Outside U.S.

Vacation property / short term rental property in phoenix - which area??

Asked by Drew, Outside U.S. Mon Feb 7, 2011

We've just started looking into getting a place in the Phoenix area - mostly as a vacation place but possibly as a short-term rental as well. We're thinking maybe Scottsdale (because it might be easier to rent out???); but what other areas should I be looking into as well. Price range: under $250K (preferably <$150K)/

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I've had many of my Canadian clients choose areas all around the valley based on the amenities they were seeking. There are some reasonably priced condos in North Scottsdale with fabulous amenities and a large Canadian community. Best of all they have on-site property management. One of the things I always recommend is to find out where your friends are buying, the reasons why and how they are enjoying it to see if those are options you want to look into. Glendale and Surprise have a lot of bang for the buck right now and the rents are good but, you do want to be careful about buying in an area like Surprise where there is a lot of over-saturation with investors. Also, think about how far away from the airport you are willing to go when choosing areas. Not everyone wants to have to drive 45 minutes after a long flight to get to their home.

If there is anything that my team can further help you with - don't hesitate to call.

Good luck,

Sandy Farmer
Realtor, GRI, CSSN
John Hall & Associates
homesales411.com
Web Reference: http://homesales411.com
0 votes Thank Flag Link Wed Feb 16, 2011
I am getting a lot of calls from short term renters who would like to be in Val Vista Lakes (Gilbert, on Val Vista, just south of the 60 freeway). There are lots of good options in the Valley, but this is one more to consider.
0 votes Thank Flag Link Thu Feb 10, 2011
Other great areas are Ahwatukee (in south Phoenix and on the south side of South Mountain) as well as Chandler and Gilbert, all located in the east valley. I had a client that had the same thought as you and didn't realize how great the other areas of the valley were until he read my blogs. Good luck!!
0 votes Thank Flag Link Wed Feb 9, 2011
Thanks for all the replies so far. It sounds like we might have other options besides Scottsdale. I think being close to golfing and shopping is a a great suggestion. What about Paradise Valley and North Phoenix? Is Glendale where they have spring training?

More about us:
My wife and I are in our 40's and we have a 7 year old son (so 55+ communities might not be for us). We live in Alberta, Canada. We'll probably only be able to come down during school holidays (ie. x'mas / spring break / or MAYBE part of summer if we can stand the heat). That's why we are entertaining the possibility of renting the place out as well, although we're still unsure whether we have what it takes to be landlords. As much as we prefer the privacy of a single house, I agree that condos / townhouses would make more sense with us being away most of the years. Are there reasonable property management services that would look after short term rentals / vacation rentals or regular maintenance of a house (yard work etc.)?

Thanks again for your help.
0 votes Thank Flag Link Tue Feb 8, 2011
Drew,
I would always make Scottsdale my first choice because it is always the most searched area for that type of use.
I would also look at the Ocotillo area of Chandler. When looking in Phoenix, I would try to stick close to the Biltmore area. The rule of thumb is to be close to lots of shopping, entertainment, and amenities. Having said that, the area near the San Tan Shopping that hmosphere as the same atmosphere as Kierland Commons is an emerging choice and provides great bang for the buck.

Call me any time,
Bob Dickinson
602-527-8086
0 votes Thank Flag Link Tue Feb 8, 2011
Hi, Drew ... active adult communities generally have worked well, so have locations inside golf subdivisions or near the sports arenas. That's what my Canadian clients have found to date.
0 votes Thank Flag Link Tue Feb 8, 2011
Good day to you Drew,

I think Scottsdale has been the common answer for many years. However, I am finding many of our clients find the downtown Phoenix region to be much more lively and fun.

Many exciting things are happening in downtown Phoenix, making it a wonderful choice. It is home to a tremendous variety of sports, arts and cultural activities. The light rail system makes it easy to get around without a car and the variety of locally owned, non-chain, restaurants is refreshing.

From a rental standpoint, downtown Phoenix is very strong. Downtown boast the strongest concentration of jobs in Arizona. (To me, jobs are the most important factor when looking for tenants who can pay rent.) The continued growth of the ASU downtown campus, expansion of the ASU/UofA Medical College and other significant businesses shifting operations downtown makes it a great place to own rental property.

In my opinion, Scottsdale is where it was and downtown Phoenix is where it is.
0 votes Thank Flag Link Mon Feb 7, 2011
Drew
I agree that Scottsdale is always a good choice but under $150,000 won't get you very much in Scottsdale. Between $150,000 and $250,000 will of course get you more, but there are areas that will get you quite a bit more and still have the ability to be rented out on a short term basis. It would depend upon when you plan to use the home and when you plan to rent it out as well. One example is that if you purchase close to where they have spring training you would want to rent the home out during that time and visit before that season begins....(the rents during spring training can get very high). Near golf courses and malls are good, mountain views are always nice for people that are here seasonally. There are certain areas that will draw tenants that will come out for less than a years lease leaving you the opportunity to use the home as a vacation home as well.

Condos will get you more than single family homes will and you won't have exterior upkeep which might make it easier on you while you are not using the property or it is not rented.

Please feel free to contact us and we can set up a free search for you to get an idea of the different areas that would be good for what you are looking for! Or feel free to use the free search on our website.

Best Regards,

Brenda

Brenda & Ron Cunningham
602-980-3133 / 602-499-0694
Recognized in the Phoenix Business Journal as one of the Top Realtors in the Valley (July 2010)
0 votes Thank Flag Link Mon Feb 7, 2011
The right place for you will depend on many other factors, not disclosed in your question, but Scottsdale is indeed a great area for investments and long term rental. For that purpose it is actually one of my favorite areas.


Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
http://www.SmartAZRealty.com
0 votes Thank Flag Link Mon Feb 7, 2011
Drew,

I am not sure what part of the world you are from however, I am working with multiple Canandian who Love Tramonto, Anthem and some places in the East and WEst Valley. I am aware of vacation homes that have regular cients.

I would be more than happy to guide you through the process!

Feel free to contact me direct if you have any other questions!

Lucinda TKach
0 votes Thank Flag Link Mon Feb 7, 2011
Drew

What are you personal requirements for the property? Will you be coming alone or with other couples or as one of my recent out of area wanted to bring the family. They wanted room for the kids and grand kids at a certain price which dictated the area to some degree. We found what they wanted at a great price after determining the need.

What would enter in for you?

Doug McVinua
HomeSmart

Arizona Homes for Sale by a Guy from Iowa
Web Reference: http://www.McVinua.com
0 votes Thank Flag Link Mon Feb 7, 2011
Hi, Drew. Scottsdale would actually be an excellent place to meet your needs, and there are actually some decent opportunties in the inder $150K range (many are "distressed property" sales...short sales and foreclosures). I am currently woking with three different Canadian clients, looking in the $100-150K range, as well as one from Colorado, who I will be out with tomorrow, looking in the $125-200K range. They, too are looking for second homes, but also with the option of renting them out. Understand that if you would be looking to make use of the condo during the winter months, that is also the prime rental season here in the area.

There are many things to consider, and I welcome the opportunity to consult with you, if you would like to contact me.

Kind Regards,
Bob Nachman
ABR,CDPE,CRS,ePRO,GRI,PMN,SRES,MBA
Certified Internet and Relocation Specialist
RE/MAX Excalibur
Bob@MoveToArizona.com
0 votes Thank Flag Link Mon Feb 7, 2011
Drew,

There are many areas of phoenix with great views and communities. If this is going to be a vacation spot for yourself I would get a price that I like and figure what amenities I would like and see if you can target a place that you would love, but also is an a great snowbird/short term rental area. Short term rentals that are near to shopping and golf courses always seem to do well. Your Realtor should be able to send you a list of possible areas in your price range....Good Luck and hope to see you in the valley soon...
0 votes Thank Flag Link Mon Feb 7, 2011
Hmmmm....the active adult communities are excellent places for vacation rentals because of the large amount of 55+ winter residents we get. For those that don't want to rent in a Sr community, make sure you purchase near a golf course/shopping area. Scottsdale is excellent but the $150K price tag would be really tough to meet - you're looking at a small, older condo. Love to help you - Bobbi bobbiburke@cox.net
0 votes Thank Flag Link Mon Feb 7, 2011
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