Build-to-rent communities are communities of single-family homes that are only available as rentals. These properties have the feel of regular single-family homes, but with the amenities and exterior maintenance that you’d find at an apartment complex.
Today I’ll discuss three key points to keep in mind as you consider build-to-rent housing:
1. Older generations are choosing to rent. Many people of retirement age who move to Arizona are making the decision to rent homes instead of buying them so they don’t have to deal with maintenance. They can still get the feel of a single-family home and take pride in their property like a homeowner.
2. Younger generations aren’t yet ready to buy. Many in the younger generations are in financial positions that make purchasing a home difficult. They want a stepping stone between renting an apartment and owning a home of their own, and the build-to-rent movement is a great middle ground.
3. They’re attractive investor opportunities. People tend to gravitate toward single-family homes over apartments for many reasons. Apartments, for example, have less privacy, share walls with other units, and just feel less homey. People in single-family homes tend to stay in their leases longer, whereas those in apartments tend to move more frequently. In addition, these properties are new construction, so as an investor who purchases one of these, you won’t have to deal with major maintenance issues for five to 10 years.
Overall, build-to-rent housing is an interesting trend that’s taking off in Arizona and across the U.S., and I only foresee it growing as time goes on.
If you’re thinking about buying, selling, or investing in real estate, don’t hesitate to reach out to me. I’d be happy to schedule you for a free consultation.