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SFH investing- Buckeye AZ or San Tan Valley AZ
Hi all, just wondering what everyone's thoughts are on SFH investing in buckeye vs San tan valley, both cities are pretty booming right now, just wondering if one thinks more over the other over the next 5-10 years?
I can speak about Buckeye and the west Phoenix metro area. Buckeye has a ton of potential. It is a huge geographic city, almost 400 square miles. In the past 20 years it has gone from less than 6,000 people to more than 90,000. Granted, a lot of the city's geography is undeveloped desert, but the potential is there. With the completion of Loop 303 in Goodyear that connects I-10 to I-17, it opens up quicker access to the industry and jobs that TSMC and many other projects in the west valley have created. There is still talk of SR-30 (former proposed SR-801) that would connect L-303 to L-202. That would make the existing development north and south of I-10 more appealing.
The proposed 100,00 home Teravalis development north Buckeye has broken ground. This project is south of Sun City Festival. There was an issue there of having enough water, but I have not heard anything about that in a couple years. If Teravalis is successful then I suppose that other developments, businesses, schools and everything else would sprout up on land that could be developed. Water and infrastructure will be the big issues. Similar to Mariciopa, where SR-347 is the only way in and out, there could be similar issues in north Buckeye if the only road in and out is Sun Valley Parkway.
Isn't Buckeye a retirement community? Which isn't a bad thing. I noticed the lack of nearby stores. Long drive into Phoenix proper.
Quote from @Henry T.:
Isn't Buckeye a retirement community? Which isn't a bad thing. I noticed the lack of nearby stores. Long drive into Phoenix proper.
No, not a retirement community. It does have some 55+ communities in it, as most cities do. There are retail areas at Verrado, which includes a new Costco and near Sundance at I-10 and Watson. It used to be a long way from shopping, etc, but Goodyear, the city next door, has also blossomed.
I prefer San Tan Valley. Queen Creek has been booming the last few years and San Tan Valley will continue to see dramatic growth over the next decade. Plus, it is a very family driven demographic which leads to tenants staying in properties longer.
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I have a few clients and friends investing in San Tan. There's a ton of new development, stores, and shopping center going in over the next few years.
Personally I see San Tan growing more rapidly than Buckeye just with it being potentially a little closer to Chandler/Phoenix/etc. With more families out there you may get some better and long term renters as well.
- Contractor/Investor/Consultant
- West Valley Phoenix
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Admittedly I am new-er to the Valley, but from driving all over it, it seems that the West Valley is going crazy...they are building as fast as they can. 2 new chip factories and tilt-ups everywhere.
I'd bet on the West Valley if it were me....
What does the West Valley included? I'm just going to be moving there and am looking. Thank you!
Hey @Connor Amato Both Buckeye & San Tan Valley are great up-and-coming cities/economic hubs. One thing to think about is the type of economic development happening in both areas. Buckeye is attracting a ton of manufacturing plants while San Tan Valley is seeing an implant of professionals/growing families from Chandler, Mesa, and Gilbert. Due to the differences in the economic opportunities in the two areas, there's going to be a difference in rental rates. I'd forecast that the general trend of East Valley rent being higher than West Valley rents would remain the same. This will impact the cashflow potential of your investment.
- Contractor/Investor/Consultant
- West Valley Phoenix
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