Scouting for a home to buy is an exciting journey yet profound at the same time. You get to choose your future house and neighborhood, so it should be a decision you will never regret later on in life.
In checking homes for sale, your first filter would probably be the property’s location. You want it to be accessible to your priorities and necessities for the current and future period.
In this article, we will talk about Orange Beach, Alabama, and why it is a place worth considering for your next home investment.
Investing in a residential real estate property is one sure thing that you can never go wrong with. It can require a higher capital than other types of investment, but this should be worth the return of investment and risks you can associate with it.
It also has a flexible purpose — you can use it for personal or commercial purposes such as short-term or long-term leases. Regardless, you may confidently expect a guaranteed return on the property.
Suppose you are particularly looking for a property in Orange Beach, Alabama. In that case, you are on the right track because the area has significant investment potential for you to take advantage of. Here are some of them!
Did you know that in 2020, Gulf Shores and Orange Beach took the number one and number two spots for Alabama’s most visited tourist attractions?
Yes, that’s correct. Officials from Alabama Tourism Department estimated that 6.1 million visitors traveled to Alabama’s beachfront attraction during the year.
It is not shocking news considering these two coastal towns have many exciting and thrilling attractions and places to visit, especially for people who crave adventure with nature.
In fact, it is an excellent destination for beach vacations with families since it provides a wide variety of activities, including fantastic dining experiences, excursions to see dolphins, golf course championship activities, fishing charters, and nature walks.
It makes homes for sale Gulf Shores, AL, also attractive aside from those Orange Beach Homes for sale by owner or a real estate developer.
Imagine that 6.1 million people are visiting the towns. You may utilize it as a chance to take your residential home for short-term rental for guests in town for only a few months.
Convinced to check out homes for sale Orange Beach, AL has to offer and make it rental ready? Check out https://theshorttermshop.com/orange-beach/ and inquire through their team of real estate professionals.
The monthly rent for an apartment in Orange Beach with one bedroom is an average of $1,602. There are a lot of factors that might affect the total amount of money needed to pay rent each month. These factors include the location, quality, and size of the rental property.
Compared to other cities in the state of Alabama, Orange Beach appears to have the highest average monthly rent, making it favorable for landlords who own residential property for lease in the area.
Adding to the statistics, there are 1,358 households in Orange Beach, Alabama, inhabited by renters, accounting for 44 percent of the total. At the same time, 1,668 residences are owned entirely.
Consider the potential return of investment if you invest even in single family homes for sale in Orange Beach, AL. With its high average monthly rental, the portion of people renting is already close to 50%, making the opportunity more attractive.
Homes for sale Orange Beach, AL, typically range from $27,700 to $14,000,000 in 2022. Further, as of the 2021 year-end, the median value of a house in the region was around $408,839. This is an improvement of 18.3% in comparison to the previous year’s numbers.
From the figures given, you can observe two things. First is the flexibility of your options on which home to buy because of the diverse price range. The second one is the expensiveness of the rates, especially if you plan to limit your spending on this investment.
Nonetheless, given the industry, you can expect these figures to continue to increase as years go by. So even if you will cash out a significant amount of money to buy a house in Orange Beach, you will eventually reap its benefits.
You can check out the Orange Beach, AL real-time real estate market for various city listings that are updated from time to time.
Apart from the investment potential the city offers, of course, you want to ensure that the place also has a good quality of life.
If your wise investor persona is already convinced to invest in a property in the city, there may be no better news than knowing that Orange Beach is also an excellent place to live.
In a poll conducted in 2021 by Niche, it was rated first among 190 of the greatest areas in Alabama to retire. Also, it ranked sixteenth overall among the finest suburbs in Alabama.
Homes for sale Orange Beach, AL are highly regarded because aside from being an excellent holiday destination, it also has good employment opportunities, various water sources, and commendable transportation access, among other considerations.
Aside from these, what other things do you look for in a town to live in?
If you want to make Orange Beach your home for good, you should probably look into the work options available in the surrounding region.
To give you an idea, the unemployment rate is now about 5.6 percent. This is lower than both the national and state averages. On the other hand, the growth rate is currently 1.78 percent, which is also good.
Further, the income of the typical household is 8% points greater than the national average, while the income per person is 26% points higher than the national average.
If you are curious which industries are especially in demand in the area, the tourism and hospitality sector contributes the lion’s share to the economy of the Orange Beach region.
The said sector includes arts, accommodations, restaurants, and recreation, which makes sense given the high-performing tourism in the city. In point of fact, these services are responsible for around 20% of the total revenue in the region.
Following closely after at 18.4% are the industries of education, healthcare, and social services, followed by construction, retail, finance, and real estate.
Indeed, the employment opportunities in the city are so broad that the chance of you being unemployed while living in Orange Beach is close to nothing.
The presence of a variety of different water sources is one of Orange Beach’s primary selling points. The many different waterways provide a wealth of entertainment opportunities to both the residents of the area and those who are just passing through.
Residents of this area not only get to take advantage of the warm waters of the Gulf of Mexico, but they also have access to various bodies of water which are all great for outdoor recreation.
In addition, many islands are scattered along the coast, providing boaters and jet skiers a welcome opportunity to take a break and slow down a little bit.
While you probably want access to a vehicle while you’re in the Orange Beach region, it’s not that difficult to move around. There are a few brief detours that you may take if you want your journey to have the impression of being more direct.
Foley or Downtown Pensacola, for one, are two examples of locations that may be a bit farther from the attractions you may wish to see. A few concealed passageways inside Gulf State Park will shorten the amount of time it takes you to go.
If you are not interested in bringing a car with you, Orange Beach and several of its nearby areas are connected by bus, thanks to the Baldwin Rural Area Transportation System. People do it because it makes commuting more straightforward and more convenient.
Also, during the weekdays, services such as dial-a-ride and senior services that give transportation to local elders so they may go to places such as grocery shops, medical appointments, and other sites are available.
The little suburban town of Orange Beach, which has a population of just over 6,000 people, is often regarded as one of the top locations to live in all of Alabama.
If you are in love with water and nature, Orange Beach, AL, should be a top choice for you. Aside from its attractive tourist destinations, it also has a positive quality of life, making your choice to live in the city wise.
From an intelligent investor’s point of view, its rental/lease opportunities and high valuation of properties are worth considering.
Regardless if you intend to live or use it entirely for commercial purposes, you may never go wrong with acquiring a house in Orange Beach, Alabama — provided that you do it right and wise.
Get help from a real estate professional to consult with your plans. Contact us at The Short Term Shop to learn more about the diverse team of real estate experts ready to be in service for you!
Hi! This is Ifama. I am a student and giving my services in SEO. I have a lot of experience in digital marketing. Travelling is my hobby and I love visiting different hilly areas and doing adventures.