6 Reasons to invest in Southern California.
If you’re thinking of growing your income, real estate investments offer a lucrative opportunity. Besides earning income regularly from monthly rentals, the value of your real estate increases over time, given the inevitable property appreciation.
Southern California is an attractive property investment choice, given that it has the factors that make an area bankable.
1. Solid Economic Growth
Southern California is considered an attractive investment due to its robust economy supported by multiple industries in entertainment, technology, aerospace, biotech, and business services.
This contributes overall to a solid job market. This fact alone drives more property renters and buyers to settle here. Investors will do well to maximize this opportunity to generate more income.
As an investor, it is important to find economically stable regions; however, to get greater returns, signs of prolonged fiscal growth are imperative.
California is the most visited state in the United States due to its natural wonders, incredible cities, and impeccable beaches. People worldwide travel ceaselessly to enjoy the spectacular, renowned entertainment Southern California has to offer. People come in droves no matter the season, and it has continued to generate massive appeal.
Southern California is filled with a plethora of impressive tourism hotspots. Here are some of them:
Santa Monica Pier
Joshua Tree National Park
Death Valley National Park
San Diego Zoo
3. Population and Population Growth
Southern California is among the most populous in the country in terms of population growth, second only to New York City. As of 2019, it has a record of 23.8 million residents, captured by the U.S. Census. California experiences a .6% increase annually in population growth and almost 60% is found in Southern California.
A growing population translates to more rental housing demands. It also contributes to a stable supply of workers suitable for a thriving economy. Thus, real estate investors would find the potential of Southern California progressively growing.
4. Good, Local Education
If the demographics you’re aiming for in your Southern California rental are families, they won’t be disappointed with the notable army of schools and universities here. Depending on the specialization, they’ll find several law schools, graphic design schools, art schools, universities, and liberal art colleges.
Easy access to a quality education system is within reach. Parents can easily choose excellent public, private, and charter elementary and high schools for their kids.
5. Great Climate
With mild and pleasant weather all year round, visitors tend to come from snow-heavy cities. This further spikes up the demand for vacation rental homes during winter seasons. Residents and visitors can enjoy outdoor activities at any time of the year in this area.
Investors find the warm summers and mild winters of Southern California to be beneficial. This brings in more visitors who stay here for a few weeks.
6. Hot Real Estate Market
There’s high demand for Southern California real estate. In fact, property sales have risen for the 8th straight year. Buying interest shows strong figures considering the low mortgage interest for the year.
Prices have increased by 15% and the shortage of properties has further churned the property values up. It is a seller’s market at the moment.
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