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There are a few good reasons to invest in real estate. Not only is owning a rental property a good way to increase your cash flow, it also increases the value of your investment portfolio.
Before you make such an investment, you need to take a couple things into consideration and choosing a location is at the top of the list. Let’s take a look at why California is a top choice for your real estate purchase.
Choosing to purchase real estate in a state like California is sure to set you up for success.
Why Is California An Ideal Place to Own Rental Property?
Desirable weather year-round
California’s southern coastal location makes it an ideal spot to both live and vacation. Boasting year-round Mediterranean-like weather, The Golden State is known for warm summers and mild winters. The average temperature hovers around 70℉ but the mountain regions offer a taste of all four seasons. Vacationers flock to the area during the summer months, making this a peak time for you rental property to generate income.
No Shortage of Natural beauty
Not only is California home to 840 miles of scenic coastline, it also houses one of the most diverse representations of ecosystems in the US. From sandy beaches and salt marshes to desert terrain and spectacular mountain ranges, California has no shortage of natural beauty.
California is also home to 9 national parks, including Death Valley and Yosemite, towering redwood forests like those seen at Sequoia National Park, and over 20 volcanoes, the most famous active site being at Lassen National Park. Its canyons and lush valleys are also a sight to behold, making this an ideal tourist destination for the avid adventurer.
Cultural Melting Pot
Another draw to California life is its cultural mosaic. No matter where you’re from, you can find yourself at home in any community. Since there’s people from nearly every ethnic background, there’s no true majority of any one group.
Californians describe their culture as being one of tolerance and acceptance. This is reflected in its rich architecture and art themes throughout its cities. There’s also no shortage of international cuisines to choose from and food trucks are speculated to have originated here.
Don’t forget about your surfers and celebrities either. Each piece of fabric is intricately woven to create what is one of the most diverse states in America.
Limited Housing Options
While some people might see this as a downfall, for someone investing in real estate, this works to your advantage. It boils down to supply and demand. Limited housing options means that if you can find yourself affordable real estate in California you shouldn’t have trouble finding a tenant.
Best Places To Own Real Estate In California
With all that California has to offer, it’s hard to imagine there’s a place that’s NOT worth investing in, but with the high cost of living and tax liabilities, you’ll want to consider one of these areas
Orange County is home to the famous Laguna and Newport beaches and the cities of Anaheim and Buena Park, home to Disneyland, you’ll want to take a look at homes in Stanton for the most affordable purchase prices.
Famously known for its celebrity population, LA County is home to Malibu, Beverly Hills, and Hollywood, but these cities shouldn’t be your top choice if you’re looking to invest in a rental property. Check out Lake Los Angeles for something a little more budget friendly.
As tempting as it may be to purchase real estate in the San Diego area, the cost of living is just as high here. Take a look at Blythe. The average cost of a home here is less than $165,000 and its proximity to Lake Havasu, Joshua Tree National Park, and the Salton Sea make it an attractive location to establish an Airbnb vacation home. Not only will your guests be able to take advantage of year-round summer, you’ll have your own amazing place to vacation as well.
Sure, it’s ideal to be near the ocean while on vacation, but don’t forget about the beautiful mountain scene. The city of Big Bear lies in the heart of the San Bernardino National Forest and is home to a 7 mile long lake, a famous mountain ski resort, and a quaint little tourist town. Real estate choices are limited, but you’re sure to see a significant return on your investment if you’re fortunate enough to find yourself a home here.
The bottom line is, no matter what your real estate goals are, you’re sure to find exactly what you’re looking for in the beautiful state of California.