Hey Friends, Today we are going to be telling you all about our favorite up and coming neighborhoods in Portland. They are the perfect place for you to invest! Check out this short video for all the details! If you are prefer to read the transcript, skip ahead!
The dream is to be in Irvington, or Laurelhurst, or Ladd’s Addition, but if you are looking for your first home, or an investment property, those neighborhoods may be out of reach. I also want to talk about some of the mistakes that people can make when it comes to buying in an up and coming area.
Make a Plan
When you are buying in an area that isn’t as established you need to think of it as a long term investment. The Portland Market has been in a quickly appreciating city for many years. While everyone has benefited from this appreciation, the “up and coming” areas did so a little slower than the rest of the city. We don’t want you to purchase a home and expect to have a huge return on your investment the following year. We will help you to come up with a 5 year or 10 year plan so you know exactly what you are getting into.
Trust Your Advisors
We will help to guide you so you can avoid any big missteps. I want to be sure that you don’t overpay for a home, or buy something that needs a ton of work. We will make sure that you are equipped with a market analysis for the areas that you want to seriously look in so you know what you should be paying for the houses we see. We will also use our years of experience to identify any inspection red flags.
Now that you know how to buy in an up and coming area, our favorites are….
I love St. Johns because they have such a strong sense of community, great restaurants and bars, and easy access to the rest of the city. This neighborhood has become more popular over the years, but it is still one of the most affordable places to live. You also get to be near the amazing Cathedral park!
I love the Foster-Powell neighborhood for many of the same reasons. Ever since Foster Rd went down to 2 lanes last year, we have been seeing a new boutique, cocktail bar, or coffee shop pop-up practically every other week! In addition, there is a really strong sense of community and many great neighborhood focused events. While prices are certainly increasing as many are realizing the great investment opportunity, you can still find homes that are affordable.
There are plenty of other areas that are still affordable, if you want to talk with us about your specific needs, definitely reach out to us and give us a call!
Do you want to take a look at our buyer or seller guides? You can download either of those here
We are always happy to share our resources with you and answer any of your real estate questions. Also, make sure to follow our blog for lots of great information and our favorite local bars and restaurants. Thanks so much for joining us today and we will talk to you soon!