Are you planning to buy real estate property in Spokane Washington? Are you ready to compete for tenants in a highly competitive market? Well, if you are up to the task, the next step is to make sure your property is located in areas that are loved by your ideal renters. It is worth noting that not all areas in Spokane have a high demand for rental homes. There are some areas preferred by renters than the rest due to their livability. If you are not familiar with Spokane real estate, it is important to do adequate research and identify the best areas to buy real estate property. To make your assignment easier, the following are the best places you need to consider when buying real estate in Spokane Washington.
This is the area bordering the Spokane River. The area is full of historic brick buildings ranging from lofts and condominiums. If you are looking for a relatively affordable area to buy real estate in Spokane, Guenther Management recommends downtown as the first place to consider. The area is livable with adequate social amenities such as restaurants, theaters, galleries, shops, parks and movie houses. There is also a good infrastructure in Downtown and moving around is easy throughout the year.
2. Spokane Valley
Spokane Valley is located east of Spokane near Liberty Lake. Property management Spokane Valley is not a problem, thanks to the professional property managers in the region. This is, therefore, a good place to buy a property if you intend to hire a property manager to take care of your investment. The area that was once a prime farmland has changed to a mix of suburban neighborhoods, industrial complexes, and retail centers. Spokane Valley also has several parks and green fields that make the area suitable for families.
3. The North Side
The North Side is a great neighborhood of Spokane and the real estate market is doing very well. Some of the major attractions in the North Side include Mt. Spokane State Park. Most of the properties in North Side are single-family homes, apartment communities, and retirement villages. The North Side is close to major shopping centers, several restaurants, pubs and business parks. If you are targeting homes for seniors looking for a cool place to spend their retirement, the North Side is the right place to buy property.
4. The South Hill
The South Hill is located south of Downtown between Krell Hill and U.S. 195. If you are looking for a place that is evergreen for the better part of the year, then South Hill is an ideal place for you. Properties in the South Hill are of different styles and represent the architectural growth of the city in the past decades. This area is home to many ducks that make the South Hill a fun place to live. Families in South Hill gather to feed ducks and spend some good time under the trees in the amazing parks of South Hill. If you are looking for newer properties to buy, then you should consider the Upper South Hill region. Here you will get newer homes, stores, shopping malls, eateries and a chain of restaurants. The South Hill is loved by working family people due to its quiet streets and its convenience to downtown.
5. Browne’s Addition
Browne’s Addition is located between the Spokane River and West of Maple Street. If you are planning to invest in some of the oldest residential properties in Spokane, this is the place to consider. Moreover, Browne’s Addition is the home for historic mansions, condominiums, and modern apartments. Some of the major attractions in Browne’s Addition include the Northwest Museum of Arts & Culture, Campbell House, and Coeur d’Alene Park among others.
6. South Perry
South Perry is located south of downtown surrounding Perry Street. If you are planning to buy a commercial property in Spokane, then South Perry is one of the places that you need to consider. The area is full of unique shops, eateries, urban rehab and fun neighborhood. There is a brewery, an herbal and natural food store, a coffee shop, pizza place and an auto garage in the region. South Perry has a small farmer’s market that makes it busy with activities throughout the year.
7. North Idaho/ Coeur d’Alene
North Idaho is about 30 minutes east of downtown Spokane and a home to quaint neighborhoods. The area is the home to several educational institutions such as the University of Idaho, Lewis-Clark State College, and North Idaho College. If you want to buy rental property targeting student tenants in Spokane, then North Idaho is the right place for you. North Idaho consists of both residential and commercial properties. The area is lively and busy with activities throughout the year.