Are you looking to invest in St. Augustine, Florida real estate? Buying an investment property can help you earn passive income and when done right you could see impressive returns!
St. Augustine exudes an old-world charm being recognized as among the oldest cities in the US. It carries a wealth of history attracting a great number of tourists. A lot of people are also looking to establish roots in this Florida community. As a property investor, it’s smart to remain aware of what areas tenants are seeking to settle in. This allows you to choose the right properties to welcome renters.
Real estate investments allow you to generate passive income. It comes with regular monthly earnings and future profits when the property appreciates in value. That said, in order to succeed, you need to do your research to know which areas and types of properties will benefit your investment goals.
The aim is to spot an area where the economy is solid, the job market is strong, the quality of life is high and the rental market is robust. Investing in St. Augustine real estate is a great decision as it bears all of the above features.
In this article by Suncastle Properties, we’ll check the main reasons to purchase an investment property in St. Augustine, Florida. You’ll find out more about the contributing factors that led this city to be recognized for producing high investment returns.
As a property investor, St. Augustine is a worthy area for investments given its strong and steady economy. It has key sectors in retail, education, and hospitality that create solid jobs leading to a low unemployment rate in contrast to the national average. This encourages more people to live in the area for work, thus widening the prospective tenant pool.
The central location of St. Augustine makes it an attractive base. One can easily head to the big city of Jacksonville which also offers a lot of conveniences and exciting things to do. One can enjoy concerts, access to outdoor activities, and exciting sports events.
On the other side is Daytona which is home to lovely and popular beaches. Another popular area would be Orlando. It has a variety of shops, theme parks, and cool resorts that are only a short drive away.
You can capitalize on St. Augustine’s hot location as a real estate investor knowing that plenty of people will be seeking to rent here since amenities and urban conveniences surround you. If one needs to travel locally, a lot of equally exciting cities can be easily reached.
What drives St. Augustine’s local economy is its huge tourism industry. Owing to its rich history, beautiful beaches, premier golf courses, impressive natural landscapes, and fun attractions, more people are flocking to this area. Exciting cuisines and interesting shops can also be found here.
There’s something for everyone whether you prefer a laidback vacation at the beach, a cultural trip back exploring the region's history, or to delight in its modern amenities such as amusement parks, hip bars, or delightful music scene. In St. Augustine, you can find superb tourism hotspots. Some of the more famous ones include:
As a property investor, you can take advantage of St. Augustine’s reputation as a tourist magnet. You can build short-term rentals to respond to the needs of visitors wanting a rental place to enjoy their travel destination. Staying in resorts or hotels can be pricey and many tourists opt to book a charming rental unit.
With sunny days most of the year, St. Augustine is where snowbirds flock to enjoy the warmth and comfortable weather. Those living in cooler climates often look for places like St. Augustine to settle in to escape the cold. Blessed by a warm climate, St. Augustine quickly becomes the home of short-term renters who prefer to enjoy its beaches.
As an investor, targeting snowbirds as a demographic can be a lucrative rental marketing strategy. When they’re satisfied with your rental accommodation, they can even turn out to be regulars since they opt to stay in St. Augustine every time the cold season hits.
Families with kids check the presence of excellent schools before deciding to stay in an area. If you plan to target families as your tenants then St. Augustine is a worthy choice. The schools are commendable and have landed in top spots as the best school district in Florida. This makes St. Augustine attractive to families.
To ensure that you have regular renters, you must invest in an area where there’s a wide array of things to do. A place teeming with events, festivals, and attractions is often where people congregate. Here are just a few of the things to do in St. Augustine:
St. Augustine provides an excellent quality of life for its residents so this is an amazing opportunity for real estate investors. It has a strong local economy, booming tourism, proximity to major Florida cities, a great local climate, good local education, and plenty of local attractions. These factors make it a solid area to consider when looking to purchase an investment property.
If you’re a new real estate investor or are looking to expand your portfolio, it’s best to get in touch with a professional so you can make the right choice. Our team at Suncastle Properties will gladly help you manage your rentals. Contact us today to learn about our services!