The housing market in the San Francisco, San Mateo, and neighboring areas has seen constant fluctuation over the last year or so. Since the COVID-19 pandemic hit, the housing market crumbled, with rents plummeting to an all-time low. However, as the impact of the pandemic is subsiding, the Bay Area real estate market is quickly recovering.

Several people are eyeing the numerous real estate investment opportunities in the peninsula region. This warrants a thorough understanding of what your prospective tenants might look for while renting your property, as well as buying your property in a city that has significant demand. Here are a few key areas that you should keep in mind while purchasing your investment property.

In a developing neighborhood

Buying a property in developing neighborhoods of San Mateo, Marin, Napa, Sonoma and San Francisco counties sounds like a tough choice, but will eventually guarantee good returns. As things are falling back to their place, these housing values in these neighborhoods will likely go up higher than expected. As the current prices in these up-and-coming areas are low, you will get significant monetary gains in a few years.

Close to the best schools

As good schools are the topmost priority of every family, your property must be in a good school district. No parent wants to compromise with the quality of education their child is receiving, and the property will always stand secondary in this regard. Even during the pandemic when schools were conducted online, people valued living in a good school district. Therefore, as a property owner, you have to realize the impact good schools can have on the perceived value of your asset.

At a convenient distance from public transport

Every property-owner is on the lookout for a convenient property, which has all the necessary features available at walking distance. Your property might be an ideal rental, but people will need it to be situated in an accessible part of the town.

A lot of working people tend to commute to and from work using public transport. Make sure your county has a competent transport system, with ample buses and taxis covering all routes. If your property is not on the main road but is in a rather secluded location, it might not be a popular choice amongst potential renters.

Surrounding amenities

The demand for good amenities is surging rapidly as people want to upgrade their living standards. People need properties that are close to entertainment avenues as well as commercial districts.

Restaurants, shopping malls, clubs, bars, parks, a gym, etc. are some amenities that you should think about while purchasing a property. An ocean view property in the Bay Area can fetch a really high market price just for its view.

In an affordable market

After considering all the things that make a city and neighborhood ideal, you have to pick a property that is affordable. Many investors make the mistake of going over budget to buy the property and run out of money for household utilities and amenities. It is necessary to factor in the cost of the maintenance of the house as well as the upkeep of the amenities before you finalize your deal and buy the property.

Founded in 1982 in Marin County, Bayside Management has expanded to offer full-service San Mateo property management to the entire San Francisco Peninsula. We manage single-family properties, multi-unit complexes, commercial properties, and homeowner associations. Connect with us to discuss all your investment property-related queries.