You have been thinking about investing in real estate for a while now but you don’t know where you should invest. Should you buy a rental in your home town? A college town? Why not invest in Bend real estate? Why not indeed? Here are our top seven reasons to buy a rental in Bend.
#7: You already vacation here. Owning a real estate investment in Bend could make part of your travel expenses to Bend tax deductible. Talk to your accountant.
#6: People want to live here regardless of the job market so finding tenants isn’t as dependent on the job market in Bend as it can be in other cities. Let’s face it, the job market in Bend isn’t the best in the state yet Bend’s population grew faster than all other areas of the state in 2011 and 2012.
#5: There is a large segment of the population in Bend that works in jobs related to tourism. Restaurants, golf courses, resorts, motels, breweries etc. These businesses are all a part of what makes Bend great but those jobs don’t always pay enough for someone to afford to buy a home. In our experience, service industry employees love to live in Bend where all the action is.
#4: 37% of the people who live in Bend rent the home they live in according to City-Data.com. That number is slightly higher than the national average and it appears that number will continue to grow as home ownership is at a 17 year low according to Reuters.
#3: Home prices are rising in Bend. The first quarter of this year was especially strong with the Bend real estate market out-pacing all but a few of the Metropolitan Statistical Areas (MSA) monitored by the Federal Housing Finance Agency.
#2: There is a lot of competition for rentals in Bend. This can be seen in Bend’s vacancy rates and our anecdotal evidence as a Bend property management company. According to a Survey conducted by the Central Oregon Rental Owners Association vacancy rates in Bend are at 2%.
…And the number one reason you should invest in Bend, Oregon real estate is:
Business Insider called Bend the best real estate market to be invested in for the next five years.